MBB Salary upgrades?

Question

Hello,

MBB’s starting salaries for 2021 MBAs seemed to be at $165K+bonuses, with BCG offering a little more. I have heard rumors that following GS’ salary bumps, consulting firms have been adjusting. Apparently, MBB would have added $20K to the base salaries, and (unconfirmed) Bain was going to give an extra month of compensation for the month of October.

Can people confirm, even anonymously, if this is true?

Answer 1

Hi there,

This is indeed an interesting question which is probably relevant for quite a lot of users, so I am happy to provide my perspective on it:

Based on the experiences of coachees of mine and my personal network, indeed, consulting companies seem to have increased compensation lately, at least in the US.
There could be several reasons for the increase which do not necessarily have to be related to the compensation increase with bulge bracket banks. Either way, it is good news for anybody starting/ continuing their career in consulting.

In case you want a more detailed discussion on what total compensation package to expect with your career entry, please feel free to contact me directly.

I hope this helps,

Hagen

Answer 2

Yes there is news of salary increases.

No it is not clear exactly how much, and where, for whom, etc.

Regardless, the salary growth that comes with promotions in consulting is always a better reward that the higher starting point itself.

Answer 3

BCG is 175k base starting Oct 1. I believe M and the other B are matching that.

ETA: This is for US, I'm not sure how other geographies are doing things.

Answer 4

Surely there is some bump in bases in some offices. Difficult to say how much and which offices.

Check fishbowl or glassdoor.

Answer 5

Hello,

I am unaware of precise amounts, but yes there has definitely been news of salary increases in consulting companies lately.

Answer 6

Hi!

I've also heard the rumor. I don't know more about the amount of the increase, the companies implementing it, etc.

Best,

Anto