Questions on Compensation at MBB (McKinsey, Bain, BCG)

Hi there,

1. Yes it is fixed at each level. 

2. It would be discussed when you have already passed interviews and they are offering you. 

3. There might be small room to discuss about sign-on bonus or entry level, but not very much. And level adjustment might not be a good thing - because you would have a shorter runway to the next level, could be a bit risky.  

Best,

Emily 

Hi there,

1) Is the salary fixed at each level, or does it vary depending on experience or background?

Normally the base salary for a given position is fixed for everyone. What you might be able to negotiate is:

• The signing bonus
• The relocation bonus
• The seniority you join

The easiest way to negotiate is to have an “opportunity cost”, ideally due to another offer (or, in the case of relocation, to actual costs present).

2) At what stage in the process is compensation typically discussed?

Normally they discuss the salary once they extend the offer.

3) And if someone receives an offer but their current salary is higher than the one offered, is there usually room for negotiation or flexibility (e.g., through signing bonuses or level adjustment)

It is possible to negotiate, but as mentioned, the base salary is normally the same for everyone. You might be able to negotiate the points mentioned before (signing bonus, relocation bonus, seniority).

Good luck!

Francesco

Just to add to the good answers you received above - the base salary is fixed at each level, but there is significant variation in bonus depending on performance.

High performers at manager-level or above can bring in a materially different income based on how well they have done in a given year.

Hi there,

First of all, congratulations on the progress in the application process with McKinsey, BCG, and Bain thus far!

I would be happy to share my thoughts on your questions:

• First of all, yes, your base salary and performance bonuses would be fixed.
• Moreover, you will find out about the offered compensation package once you successfully passed the interview process.
• Lastly, while base salary and performance bonuses are usually non-negotiable, you may consider negotiating a relocation bonus if applicable. However, level adjustments will no longer take place once the interview process has begun. You can find more on exactly this topic here.

You can find more on this topic here: How to succeed in the final interview round.

If you would like a more detailed discussion on how to best prepare for your upcoming (final round) interviews, please don't hesitate to contact me directly.

Best,

Hagen

Hi there! Let me take your questions one by one.

• Is the salary fixed at each level, or does it vary depending on experience or background?
  • Yes. Some offices do offer bonuses on signing the contract or with relocation. These tend to be negotiable.
• At what stage in the process is compensation typically discussed?
  • Offer.
• And if someone receives an offer but their current salary is higher than the one offered, is there usually room for negotiation or flexibility (e.g., through signing bonuses or level adjustment)?
  • Not really. That's where the MBBs rely on their brand to compensate for a potentially lower compensation (and the fact that career-progression and thus compensation increase is faster than with other companies).

Best,
Cristian