Concerning position, tasks, perks, salary etc.
Ex-BCG Principal | 8+ years consulting experience in SEA | BCG top interviewer & top performer
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What is the difference between Partners, Principals, Directors at MBB consulting firms?
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Hi,
I'll share a POV from a BCG perspective. The position progression is as follows:
Principal/"Partner" → Managing Director & Partner → Managing Director & Senior Partner
The key differences
- Tasks
- Generally, the key difference between Principal and MDP is the KPI
- MDPs biggest KPI is sales generation / revenue
- Other KPIs that are different include building up practice area, building up your junior partner network (if you are an MDSP)
- Principals at BCG are still expected to deliver/execute projects
- Salary
- Salary rises significantly once you become an MDP
- Perks
- At least where I am from, MDPs do get to fly business class, but not for the Principals
Hope this helps to clarify!
Principal - in practice the same as manager, but as this is the gateway position to the partner promotion, they sometimes do partner-level work. They have a stable salary with a variable bonus.
Partner - they sell the cases, typically have several assignments at any given time, and they oversee projects. Their involvement varies - sometimes you would see a partner daily on your project, sometimes you would see them once a month or even less frequently.
Director - a "super partner". They sometimes oversee junior partners, act as ultimate experts and sometimes they manage functional areas of expertise (e.g. Global head of Airlines Practice at Bain would typically be a Director).
Regarding salary, for principals it's a set salary with a bonus, for partners and directors the variable element is much higher. Although it depends on several factors, a partner can expect to make at least upwards of £150K plus bonus. There are rare cases when partners/directors earn about £1M and more. It is mainly driven by how much business they bring in.
Cheers!
Michal
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