Why are consulting firms so touchy on the salary issue?

After a couple of weeks of work at an MBB firm, I still can't get a firm grasp of the firm's raises and salary levels and different seniority levels! You try to talk to people about it and no-one wants to divulge information. HR is tight-lipped as well. All my fellow undergrad consultants are wondering the same thing.

Can we create some kind of chart with input from fellow Wallstreetoasis members?

Analyst:

1st year - 65K base + 5K EOY bonus + 15K signing and other incentives
2nd year - salary increase ranging from 15-25% - 75K base + 10K bonus
3rd year - salary bump to 110-115K + bonus of 15-25K

Associate

1st year - 120K base + ~30-40K in bonuses/other incentives
2nd year - 130K base + ~30-35K in bonuses/other incentives

Manager/EM level

1st year - 170K base + 30-70K bonus

after that, I have no clue!

How do you fare in terms of salary increase if you're an average performer? 10%? 15%? 30%? What about distinctive performer?

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Comments (17)

Dec 5, 2007 - 1:10pm

As you can tell from the numbers you've already given, working at McKinsey is not a way to "make a killing."

_______________________________________ http://www.drmarkklein.blogspot.com/
Best Response
Dec 5, 2007 - 2:59pm

They will always be relatively secretive about it, but at some point you should see a progression / est. comp chart. Below are some figures I recall from the MBB where I used to work (note: these are from late '05 / early '06):

1st year analyst: $60K base + $6K EOY target (for any year, top bucket gets 1.5x target, second bucket gets 1.3x target and the rest get 1.0x); I am not including signing bonuses / other related comp

2nd year analyst: $70K base + $12K EOY target w/ same performance-based adj.

3rd year analyst: $85K base + $24K EOY target w/ same performance-based adj. (note: does not include business school sponsorship and other bonuses available to those accepting a b-school offer)

4th year or 1st year post MBA consultant: $125K base + $40K EOY target w/ same performance-based adj.

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Dec 5, 2007 - 9:16pm
ghosht:
first.the.dots.because.my.spacebar.broke(im.home.sick.today)

does.anyone.know.of.bankers.making.a.switch.to.Management.consulting....postMBA...or..otherwise?..........monetarily.the.incentive.seems.low........but.then.again.consulting.seems.to.pay.better.than.fortune.500

If true, this is pretty entertaining.

Personally, I'd go with underscores before using periods. Your post reads like a telegram.

Dec 6, 2007 - 3:20am

why.do.consulting.if.it.has.same.hours.as.banking.but.with.less.pay?...ppl.say.work.is.more.interesting.but.i.don't.buy.it

btw.my.spacebar.works.fine.i.just.think.this.is.fun

Dec 6, 2007 - 9:46pm

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