I would like to know if there is any possibility of having a sign-in bonus for a consultant position at BCG (preparing my last round with Munich office).
Sign-on bonuses are NOT the norm in Germany and are mostly reserved to experienced professionals. At least that is how it was a couple of years ago (I have not heard that this has changed though!). What you get with BCG is usually a lump-sum payment to cover moving expenses, but it is not comparable to a real sign-on bonus. Post MBA entry positions are still standard entry positions for MBB in Germany, and the offer will be similar to PhD degree holders (who are the majority in Germany compared to MBAs and who do not have tuition to repay).
That being said, there might be excpetions for on-campus recruiting from the worlds top MBA schools (HBS etc.) - but this is pure speculation.
Cheers, Sidi
In my experience this depends on the entry-level you're targeting. I can tell as a post-MBA hire, there is a sign-on bonus, but it's actually done in a way that it lowers your tuition (so you don't get the cash). It was all very standard, and not negotiable. In general, at the more junior levels of MBB consulting, the rules are not very extendable, so there is little room for negotiation. This was my experience in Paris and London anyway. You can check the temperature, but don't push too hard for it, because in the broader scheme of things, a sign-on bonus doesn't represent all that much (and it can reflect poorly on you if you insist too much).
Good luck!
W*
I asked around and actually, I think Sidi is right - sign-on bonuses are not the norm for post-MBA hires in Germany. I had previously assumed that, given Germany is one of the most mature consulting markets in the world, this would be the same as in the US or the UK. I have also heard that a sign-on bonus can be negotiated, but mainly for experienced hires.
Hope this can help clear up your questions!
Hi,
Best
To answer your questions simply:
- There will definitely be a (quite significant) signing bonus, but as Wouter says this might be paid out directly to your business school to reimburse tuition
- It is non-negotiable (everyone receives the same exact salary and bonus)
Is this also true in Germany (the signing bonus)? All the research I've done about it lists signing bonuses for every country except Germany...
Congrats on getting to the second round! Do you have any tips? I'll be applying to firms in a month or so and BCG is my top choice...what has the timeline been for your application process? Any advice/tips would be much appreciated!!
And I was wondering about this too--I'm in grad school know and can only work part-time so it'll be financially difficult to move to a new city/get set up/etc. unless I could get a signing bonus or moving-sum. I know this is the norm in the US, but I haven't found any information for signing bonuses in Germany and have been wondering if it's even a thing here!
Thank you for this comment! Everywhere I read about the signing bonuses but I'd never heard of that here in Germany so wanted to double check. It's good to hear they do cover moving expenses if need be though...I'm a grad student applying for after I graduate and I wouldn't have the funds to move/set up straight away in a new city before my first paycheck. Thanks again!