Do signing bonuses exist in European MBB offices?

salary negotiation western europe
New answer on Jan 28, 2021
9 Answers
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Anonymous A asked on Jan 27, 2021

Hi everyone,

I kept reading on mostly North America blogs that the offer should comprise a base salary, perfomance bonus as well as a signing bonus. I just got an offer from an MBB in Western Europe but it doesn't mention any signing bonus. Is that because it's not a thing in Europe? How much room do I have to negotiate for one?

I'm an advanced degree candidate if that is relevant.

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Clara
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replied on Jan 27, 2021
McKinsey | Awarded professor at Master in Management @ IE | MBA at MIT |+180 students coached | Integrated FIT Guide aut

Hello!

That is odd, since for sure hiring bonuses exist in Europe.

It could be related to the position you are applying to. For MBA grads and above, this is the case for sure.

Hope it helps!

Cheers,

Clara

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Antonello
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replied on Jan 27, 2021
McKinsey | MBA professor for consulting interviews

Hi,

Very interesting question.

I think the most appropriate approach would be to talk to HR.

Best,

Antonello

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Ian
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replied on Jan 27, 2021
MBB | 100% personal interview success rate (8/8) and 95% candidate success rate | Personalized interview prep

Hi there,

Europe 100% offering signing bonuses. However, it depends on your role+entry point.

If you're coming from an MBA, signing bonuses are pretty much automatic. Furthermore, if you're an experience hire (i.e. getting poached from another job) there should be a signing bonus attached.

I would very much advise you to attempt to negotiate a signing bonus. This can come in the form of the "excuse" of relocation costs, annual bonus from existing company, switching costs, etc. etc.

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Florian
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updated an answer on Jan 28, 2021
#1 rated McKinsey Case and PEI Coach | 5 years at McKinsey | Mentorship Approach | 120+ McK offers in 18 months

Hey there,

Signing boni do exist, however, if you enter with 'less than' an MBA or Ph.D. / or 3+ years previous work experience you will likely not be entitled to them.

As always, for every salary-related question give HR a quick call.

Congrats on your offer! :-)

Cheers,

Florian

(edited)

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Ken
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replied on Jan 27, 2021
Ex-McKinsey London final round interviewer

For Europe, it can be firm and location dependent. For example McKinsey London offers a sign on bonus for advanced degree professionals (as well as other entry points). It never hurts to ask but if it is not standard then you will need a good reason to negotiate (e.g., competing MBB offer with higher salary).

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Henning
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replied on Jan 27, 2021
Bain | passed >15 MBB interviews as a candidate

Hi A! That typically depends on your entry point. For MBA hires, there is definitely a sign-on bonus. For candidates that enter on an junior position there is typically no bonus. For other entries (industry hire, PhD, etc. there might be room to negotiate, but it's not default). Hope that helps - although maybe not what you wanted to hear.

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Gaurav
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replied on Jan 27, 2021
Ex-Mckinsey|Certified Career Coach |Placed 500+ candidates at MBB & other consultancies

Hi there,

they definitely exist in Europe.

  1. may dependon the office and the company
  2. may depend on your education and the position you're applying to
  3. You can talk to HR and ask

Congrats on your offer!

Cheers,

GB

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Vlad
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replied on Jan 27, 2021
McKinsey / Accenture Alum / Got all BIG3 offers / Harvard Business School

Hi,

They exist for sure if you are applying as an MBA grad. You should check with a recruiter. Experienced hires can also get them in certain cases

Best

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Denis
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replied on Jan 28, 2021
Ex-Bain 5 yrs | Goldman Sachs Investment Banker NYC | MBA Chicago Booth | Passed > 13 MBB > 20 IB interviews

Hi,

signing boni certainly exist for MBA students - quite generous too!

Best,
Denis

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Clara gave the best answer

Clara

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