Bonus entry level roles consulting

Question

Hi,

I have recently received an offer from a top strat consulting house and there was no mention whatsoever of a bonus in the contract, not even discretionary. However, some employees had told me they had received a bonus at the end of the year.

Is it possible to receive a bonus, even if this was not mentioned in the contract?
Do consulting firms (e.g. MBB) tend to pay bonuses to entry-level employees (e.g. associate, business analyst)? In those istances, is this possibility specifically mentioned in the contract or is it not, and you could just be 'surprised' at the end of the year?

Many thanks!

Answer 1

Hi,
first of all congratulations for the offer :) Have you got a 3/6-month contract or the full standard one? In the former case, bonuses are never included.
Not every firm has bonuses for entry-level consultants (e.g. most of the McK offices do not have bonuses for BA), but if your future colleagues will have it for 2019 you can be sure.

Hope it helps,
Antonello

Answer 2

Hello,

It's really weird, usually the bonus is specifically mentioned in the contract. The percentage and conditions can vary a lot from one company to the other, but every consulting firm has a "bonus" program to reward his employees.

Anyway, if you have friends inside the same compant that receive the bonus, you will receive at 99% the same treatment. I would suggest to talk with HR about it, it's something that you can openly discuss with them.
Feel free to contact me for additional information about specific companies.

Best,
Luca

Answer 3

Hello!

Congrats!

First of all, it would be best for this particular case to talk with the people who are already in that company. Those are the ones who will guide you best.

In my case, Mckinsey Iberia, bonus is not said in the initial contracts -for BAs I am speaking- since it´s linked to the performance after the year. Hence, a "Tracking +" BA will be given more money than a "tracking" BA and less than a "distinctive" BA. Furthermore, bonus is not that big part of the fixed -this changes from associate onwards, when it starts being a considerable amount of money-.

Hope it helps!

Cheers,

Clara