Do McKinsey experienced associate hires receive the same sign-on bonus as post-MBA associate hires?

Question

Clara · Accepted Answer

Hello!

Don´t agree with most of the answers. 

For instance in McK, it´s pretty standarized by country. 

Associates have a clear job description, carreer progression and salary. And this does not get negotiated. I am 100% sure of this. 

Could be that in upper levels some negotiation goes on, sure. But no at the associate level. 

Cheers, 

Clara

Ian · Answer

Generally MBA hire defaults to a higher initial bonus offer, but you can always negotiate.

For example, if the office is offering a lower $ amount than is industry standard, you can flag this. Or, if you're coming from a company where you'll be giving up stock/401k match vesting, losing a bonus, or have to move home, you can ask if they can provide equivalent compensation.

Gelöscht · Answer

I'd say it's all about negotiations and the strength of your negotiation position. A friend of mine has got an offer as an experienced associate. He was moving from a competing firm in the industry that was in demand at McKinsey at that point of time. So, he got very modest sign-on in the offer, but managed to multiply in by 3 during negotiations.

Emily · Answer

Hi there,

You can always try to negotiate. No harm in asking. 

Even if you don't get the same, I don't think this would impact your decision much, right? At the end of day, it is a small amount compared to all the future upsides (incl exit options) you can get from being McK consultant. 

Best,

Emily

Vlad · Answer

Hi,

There is no bonus for experienced hires by default. For example, if you are +1 year from post MBA, chances are high you'll not get one. However, you can always negotiate that part. It'll be easier if you have some relevant expertise (e.g. Digital)

Best

Udayan · Answer

Typically yes. Obviously there are usual caveats such as each office's individual policy and what you can negotiate

Luca · Answer

Hello,

Sign-on bonus for new hires depends on several factors like:


	Previous position and salary
	Experience in consultancy
	Penalties to be paid to your previous company (e.g. lock-in after MBA)
	Other offers received in the same period


This is not something clear and structured as the standard salary that you will get, but it is more like a real negotiation (and depends also on your negotiation skills :) ).
Regarding your specific question, I would say that a post MBA has more "negotiation power" than an experienced hire, so he will be usually take an higher sign-on bonus (especially if there are lock-in agreements with previous companies).

Best,
Luca

Gelöscht · Answer

Dear A ,

Yes. You're right. The bonus is the same, because you are graded equally on the same position. 


Best,
André