Schedule mock interviews on the Meeting Board, join the latest community discussions in our Consulting Q&A and find like-minded Interview Partners to connect and practice with!
Back to overview

McKinsey offer negotiation

Hi everyone, I've just received an offer for an Associate position at MCK and find out my package does not include a signing bonus. I asked HR and they said signing bonus is a case-by-case thing… Is this normal  (as I thought the package is standardized) and should I negotiate?

Thanks everyone for your advice!

7
2.9k
26
Be the first to answer!
Nobody has responded to this question yet.
Top answer
Moritz
Coach
edited on Apr 10, 2022
ex-McKinsey EM & Interviewer | 7/8 offer rate for 4+ sessions | High impact sessions + FREE materials & exercises

Hi there,

First of all, nicely done getting the offer! I loved being an Associate at McKinsey!

As for your question, it may be good to have a strategy in place prior to enquiring with HR - remember for next time.

Once you ask about signing bonus and accept HR's response that there isn't any in your case, you've essentially blown the opportunity to negotiate.

However, without having a solid BATNA and good arguments e.g. just graduated 1st from Harvard MBA cohort, you wouldn't have achieved much is my guess…

Best of luck for the role! You'll have a blast!

Ian
Coach
on Apr 07, 2022
Top US BCG / MBB Coach - 5,000 sessions |Tech, Platinion, Big 4 | 9/9 personal interviews passed | 95% candidate success

Hi there,

In general I am of the believe that you should almost always try to negotiate offers. That said, if you don't have other offers, don't have something to fall back on, feel like you “squeezed through” in the interviews, and/or worry that you might say/do something during negotiations that causes them to rescind the offer, then don't negotiate!

If you do negotiate, you need to stay polite and defend your ask/position. Ultimately, you might be able to get $5k-$10k bonus. It sounds like they've kind of already said “no”. It's up to you as to whether the risk is worth the reward.

Anonymous A
on Apr 08, 2022
Thanks Ian and everyone for your advice! I dont think I have much leverage to negotiate this time so will accept it. Happy enough that I got the offer ^^
Andi
Coach
edited on Apr 07, 2022
BCG 1st & Final Round interviewer | Personalized prep with >95% success rate | 7yrs coaching | Experienced Hires

Hi there,

congrats on your McK offer!

 

Sign-on bonus is by no means standard across Associate offers, and typically depends on different factors, such as…

  • Geography (it's standard in some countries, unheard of in others)
  • Post MBA vs not (more likely, if post-MBA role)
  • Past experience / incoming tenure; etc

 

If you try to negotiate, you will need to back up your position (not bargain for bargaining sake) - in an attempt to do so, suggest you… 

  1. understand from local HR, when a candidate would qualify for sign-on bonus to better understand the situation
  2. benchmark, whether peers / other people from your hiring cohort (if applicable) in resp. office received sign-on bonus. If the case, you can follow up and negotiate based on the benchmark. If not, it may be a long shot, honestly speaking.
  3. form your position on whether worthwhile, based on above

 

Feel free to share more context here or via PM - will make it easier for us coaches to give specific advice.

Regards, Andi

Matteo
Coach
on Apr 08, 2022
McKinsey & Company | Currently offering 1 free coaching session| Happy to PARTNER with you to get an offer from MBB

Hello, 

thanks a lot for the question. :) 

First of all big congratulations for your offer at McKinsey. 

Generally speaking, offers for Associate positions are not standard packages at the firm. They generally depends on 3 main factors

  • Seniority (e.g., past work experience) 
  • Post MBA vs not 
  • Geography 

I would suggest you to negotiate in a clever way and with a strong back up. In particular I can give you 3 main suggestions

  • Better understand the situation → Ask to HR what is the meaning of “case-by-case" and what are the main criteria used in order to qualify for the bonus
  • Benchmark with other peers (potentially within the same hiring slot) → It would be very useful to understand the main difference between you and some peers having the bonus
  • Build a strong position for a successful negotiation → Used a fact-based approach in order to negotiate. Leverage the previous 2 points. Moreover, do you have any other potential offer with higher salary? If yes, you can say that, always underlining that McKinsey would be your preferred choice 

Having said that, negotiation vs not really depends on your sensitivity, as well. For instance, if you think that your recruiting process has been very strong, negotiating it is for sure the best option. In the opposite case, I would think a bit more about it. 

To conclude, I would say that professionals can always negotiate offers. The most important thing is to do that in a respectful and honest way

Do not hesitate to reach out me in case of further questions! I am currently offering a free coaching session.  

Good luck!

Matteo

Udayan
Coach
on Apr 07, 2022
Top rated Case & PEI coach/Multiple real offers/McKinsey EM in New York /12 years recruiting experience

Sign on bonus in McKinsey is common after MBA in North American offices but for the BA role it is very rare. As mentioned earlier, it really depends on your geography and tenure as to whether you automatically qualify for it.

If you want to get a sign on bonus, you need to be a very strong candidate and ideally have other offers that pay a sign on bonus or have a higher salary for HR to be able to justify the payments.

 

Udayan

Deleted
Coach
on Apr 07, 2022
Experienced Consultant - Startup Exec|Ex-McK EM, Booz & Co. Consultant | INSEAD MBA

If you were interviewed as part of a larger intake (i.e., MBA graduating class intake) and they were offered a signing bonus I would definately express your discomfort and ask them to explain what was their reasoning for you being excluded: “It is my understanding that others were offered a signing bonus and I would like to understand what was the reasoning behind my offer and understand how my case was different."

If you were hired one-off (not part of a larger intake) and you do not have peers (e.g., classmates) that were interviewed alongside you and that were extended signing bonuses, you would be in a difficult spot to negotiate in my view. 

Lucie
Coach
on Apr 07, 2022
10+yrs recruiting & BCG Project leader

Hi there, 


usually, there is a signing bonus at MBB, and the more senior you are, the more likely you will get one, but there can be geographical differences. 


If they didn't offer you I would definitely reach out and ask, it is ok to be transparent. But salaries/packages are very standardized and they don't wait for you to ask for it, means there is likely no signing bonus. 


Good luck
Lucie
Was this answer helpful?

Similar Questions
Consulting
McKinsey PEI
on Apr 02, 2025
Global
7
2.5k
Top answer by
Deleted user
58
7 Answers
2.5k Views
+4
Consulting
Preparing for McKinsey PEI
on Jul 10, 2024
Global
7
5.0k
Top answer by
Nilay
Coach
Former McKinsey Sr Engagement Manager | Trained McKinsey interviewer (100+ interviews, 500+ coaching sessions)
116
7 Answers
5.0k Views
+4
Consulting
McKinsey feedback call after rejection
on Jun 19, 2024
Global
7
3.0k
Top answer by
Hagen
Coach
#1 recommended coach | >95% success rate | 8+ years consulting, 8+ years coaching and 7+ years interviewing experience
68
7 Answers
3.0k Views
+4