Sign-in bonus - experienced hires

Question

Hi everyone,

currently in process with all 3 MBBs (3-year consultant at a tier-2 company, a Big Four with a strong position in my home country). If I got an offer, my role would be downgraded from a confirmed senior consultant currently to Senior Associate (Bain or BCG) / Junior Associate (McK) according to the HR. My question is about the sign-in bonus. I expect, based on my firm bonus policy, to have a significant bonus (decided in May/ June for October 2021), especially that I have always been a top performer. I should leave before, if I got an MBB offer. Could this help me ask for a sign-in bonus ? In order to partly compensate for the bonus I won't get ...

Thank you

Answer 1

I dont want to stump you but sounds like you are doing very well in your current role and company. So why the urgency to leave now in this uncertain climate and downgrade in terms of position/level & salary? You must have very good reasons to do that i.e. significantly better opportunities in MBB and growth prospects in the location/country your are based. Or perhaps you are fed in your current company. I hope you have rearsched this well.

Definitiely ask for sign-on bonus option if thats common practice in your market, but best way will be to negotiate an appropriate level for example top end of associate perhaps? Show your experience & value clearly to HR and hiring managers and get in at the right level.

Sign-on bonus is a one off thing to adjust for the 1st year and then you are back to the lower salary grade from 2nd yr onwards. Think bigger...

Answer 2

Hi,

Usually, you get a sign-on bonus as a consultant (Bain, BCG) or Associate (McKinsey). Your compensation with any of these companies would be higher than your comp in Big4, even as a top performer, so you will not lose that much money. In any case - it does not hurt to try

Best

Answer 3

Hello there!

Having prepared solid argumentation it could be possible for senior hires, yours seems like it.
Try to ask HR about it first, give your reasons, but make sure that it won't be taken as a demand.

You could negotiate about a more senior position instead, but keep in mind that you need to continue keeping your performance on top.

Was it helpful?

GB

Answer 4

Hi there,

100%

This is negotiations 101! You have a valid/reasonable reason to ask for a larger bonus. Frame it in the right light (i.e. "I'm very interested in the role, but I just need to justify the fact that I will be giving up a signing bonus") and you should be good to go!

Make sure that they know you will sign on the dotted line if they can provide you with the bonus.

Answer 5

Hi there,

You can try to negotiate – a signing bonus is one of the few things you may indeed be able to find an agreement on. There is no harm in asking.

Best,
Francesco

Answer 6

Hi,

This is absolutely 100% a valid reason to ask for a sign on bonus. Just prepare data on the past bonuses that you received from your firm as a back up to the number that you asked.

Answer 7

Hello!

First of all, if you had 3 years experience in Tier 2 Consulting, being a junior Associate + no MBA would not be a downgrade in McK, it would be the normal carreer path :)

Secondly, a priori I would tell you that indeed is something to put on the table -only once and if you get the offer, not before-.

However, also to be fully transparent, MBBs are known not to negotiate for an inch, since they have pretty well stablished positions and salaries associated.

Could you clarify the geography, that is another huge point?

Hope it helps!

Cheers,

Clara