Dear community hi.
Do you know whether there is a wide range of salary levels on the same grade (e.g. within McK Consultant) or it's more or less the same salary on each grade? E.g. are there any salary sub-grades for BA/SBA/Consultan/EM, etc?
I know that in BIG4, as an example, you may be Manager Year-1, Manager Year-2, Manager Year-3 with quite different salary level.
Thank you!
In a given region, salaries on a given level are typically not far apart. Both across the firms (e.g. a MCK Associate earns roughly the same as a BCG Consultant and a Bain Consultant) and between sub tenures (e.g. annual escalation without a promotion is typically ~10%). You'll see larger swings, once you move to Associate Partners or Partners of course where base payment is only a small fraction of overall comp.
One difference exists though: Compensation on all levels is massively dependent on location. For example post tax comp in Dubai can be nearly double to that in European countries.
Hi there,
Within the same grade salaries are identical. Now, where this changes is sign-on bonus and annual bonus. The range for bonuses is quite wide, so this is where total comp can fluctuate a fair bit. Additionally, not sure if you count this as it's own "grade", but "Junior Consultant" or JC exists which is essentially halfway between Associate and Consultant (in terms of tenure, tier, and pay)
Dear A,
There is no difference within the grade. Difference might be on bonuses, and depending on the geography.
Best,
André
Hello,
This is a characteristic of McKinsey: Salary does not change within the same tenure in different years, at least for most of the countries.
This is different from BCG or Bain, where salaries can change every year even without a promotion.
Best,
Luca
For BCG and Bain, the salary would be different within each grade, according to the "tenure" in the grade. i.e. manager-1 and manager-2 is different.
But all people within the same grade and same tenure would be paid the same base salary. I.e. all manager-1 have the same base salary. Bonus always dependent on performance.
