Hello
I received an experienced hire associate offer at McKinsey. I was told intially by the recruiter that the base would be non negotiable. Is there scope to negotiate the signing bonus? Any risk in bringing that up?
Would appreciate any insights.
Hey there,
The base salary is standardised across consulting roles according to tenure and position, and yes - these are typically non-negotiable.
However, sign-on bonus and relocation assistance typically are and these fall under discretionary spend for many offices.
There is no risk in asking, the worst case scenario is you are told that it is not possible. However, there is a manner (respectful and professional) in which you could approach the HR and recruiting teams, and also present solid reasons (justifications) for why you could / should be awarded these bonuses.
I've helped many candidates from applying these tactics to get additional sign-on and relocation bonuses, even though at first they were not presented in the offer letters
All the best
Hi,
Congrats on the offer receipt- well done.
I think there's no risk in asking, but usually a signing bonus is given if you've completed an MBA or have competing offers.
Normal bonus (regular one paid out yearly) is typically not up to negotiation, to the best of my knowledge.
Best,
Maja
It doesn't hurt to ask, but you should be reasonable and manage your expectations. Do you have a counteroffer or incredibly specialized skills that are in high demand for that office/system? Compensation at MBB is very structured, and there is little room for negotiation.
One way to push for higher compensation is to negotiate leveling (i.e., tenure credit = timeline to Associate/EM promotion). Folks with directly related experience can sometimes shorten their promotion timeline and get a raise sooner. This is not the norm, so I wouldn't count on it either.
Hi there,
congratulations on the offer. Yes, it is true that the base salary is typically the same for each employee at the firm within the same country who is on that same seniority level. It is therefore not negotiable. The only way to increase that is to try to enter at a more senior role. But this is unlikely given that you already went through the interview process and the firm decided to offer you a certain role based on that.
What you can try to negotiate is the signing bonus and a potential relocation bonus. These are one-off payments of course. It is legitimate to at least ask for an increase within a reasonable range. The worst that can happen is that they say no - but they will not rescind the offer as a consequence.
Good luck
Hi there,
Congratulations on your offer! In terms of your question:
Q: Is there scope to negotiate the signing bonus? Any risk in bringing that up?
Yes, it is possible to negotiate a signing bonus, I coached candidates who did so. If you are polite and ask professionally about it, there is no real risk.
Normally the base salary for a given position is fixed for everyone. What you can usually negotiate is:
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).
Good luck!
Francesco
No room to negotiate on base. But if you have a competing offer, especially from other MBBs there is a good chance you can get a higher signing bonus.
No risk to get rejected unless you are a dick about it.
Hey!
If you’re considering discussing the signing bonus, approach it tactfully. Express your enthusiasm for the role and the company, and then politely ask if there’s any flexibility on the signing bonus considering your experience and market norms. It's unlikely you'll have much leverage with the base salary, but negotiating the signing bonus is usually less risky.
Always keep your request reasonable and be prepared to justify why you believe a higher signing bonus is warranted based on your skills and experience.
Good luck! Alessa:)
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