Does MBB US take into account experienced hires' previous consulting experience when determining the compensation and promotion timeline?

compensation Experienced Hire MBB promotion salary
New answer on May 17, 2022
8 Answers
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Anonymous A asked on May 15, 2022

I currently work at a tier 2 firm in the U.S. and am recruiting for MBB. If I receive offers, I'd join with about 11 months of experience from my current T2 firm. 

Do MBB take into account my experience when determining my compensation and promotion timeline? 

For example, if I join MBB, will I receive A2/AC2/BA2 pay after 1 month since I'll have 12 months of consulting experience? Will I be eligible for a promotion after 1 year, when I achieve 2 year of total consulting experience? 

I'm curious because if MBB doesn't adjust the compensation or promotion cycle, I'd receive more by staying at my current firm. 

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Ian
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replied on May 16, 2022
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Hi there,

If you have 11 months of experience, no then won't give you a promotion after 1 month - this isn't how it works at any company!

But, yes, when hiring you, they obviously do take into account your # of years experience when figuring out where to place you.

Once you're placed (junior associate, etc.) then you're put on a set salary. 

Promotion is performance-based.

Any questions you have on where you're starting and the general timeline for promotion can/should be asked directly to the recruiter!

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Udayan
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replied on May 16, 2022
Top rated McKinsey Case & PEI coach/Multiple real offers/McKinsey EM in New York /6 years McKinsey recruiting experience

Typically you will not be able to negotiate a higher base pay. This is because MBB pays everyone at the same level a standard salary to avoid any issues of discrimination etc. It is also because MBB looks at people from a cohort perspective when they are junior. 

The best option for you would be to negotiate a higher joining bonus if you feel you deserve more pay than your peers given your past experience.

Best,

Udayan

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Anonymous A on May 16, 2022

Thanks for the response, Udayan. Does this mean I would enter MBB as a first year Associate, rather than a second year Associate, so I'd be paid the entry level salary/base compensation for first years?

Udayan on May 16, 2022

That seems to be the most likely answer. But you can always ask HR what they think. I also think in general it's better to enter as a 1st year so you have some time to see how they work and adopt the culture of the firm.

Clara
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replied on May 16, 2022
McKinsey | Awarded professor at Master in Management @ IE | MBA at MIT |+180 students coached | Integrated FIT Guide aut

Hello!

Your previous experience (consulting and not) are taking into consideration for your offer. Then your progression for sure is influenced by that experience, in terms of experience and skills. 

Cheers, 

Clara

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Ken
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replied on May 16, 2022
Ex-McKinsey final round interviewer | Executive Coach

The experience will not translate I’m afraid.  For McK US, you would likely join as a BA which is already 18-24 months before becoming an EM where you will skip the Associate role.

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Francesco
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replied on May 16, 2022
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Hi there,

Q: Do MBB take into account my experience when determining my compensation and promotion timeline?

MBB take into account your experience in order to define the position you join (and related compensation). However, the promotion timeline after that is based on your performance after joining.

In terms of the position you join:

  • MBB don’t usually fully convert the previous work experience into MBB experience. That’s true even when you come from another MBB. I have a friend who was a manager in one MBB and had to move to another for family reasons. They asked him to do 6 months at the lower level before moving him to manager in the new firm, assuming good performance.
  • On the other hand, they may account for some seniority in some occasions. For example, if you have 2 years of experience, they may “convert” it to 1-year experience at MBB. This is office-dependent so it is difficult to provide exact conversion metrics.

In your case, given you may join after 11 months in a T2, I would expect they may either consider no seniority or 6 months for it.

Hope this helps,

Francesco

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Lucie
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replied on May 17, 2022
10+yrs recruiting & top BCG trainer & BCG Project leader & experienced hire & ICF coach

Hi there, 

based on your experience level, but most importantly your performance during the interviews, you will be offered a job with a certain seniority (e.g. Associate level 2, meaning, you can get promoted after a year no need 2 which is for entry level Associate). 

The salary and conditions are pretty standardized, and there is not much room to negotiate. The best option to negotiate is on your signing bonus (10-20%). 

Good luck!

Lucie

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Pedro
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replied on May 16, 2022
Bain | EY-Parthenon | Roland Berger | FIT | Market Sizing | Former Head Recruiter

They will consider your experience when defining the position where you start, but after that it is 100% dependent on your performance.

This means that they will consider giving you the A2/AC2/BA2 offer. If they don't, that means you will only be considered for a promotion in the next evaluation cycle (which is likely to be in 6 months).

In any case, it would be shortsighted to evaluate this move only from the pure short term financial perspective. I.e., even if you lose money in the short term, it could make sense to make the move anyway.

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Angelina
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replied on May 16, 2022
Digital Health start-up founder; ex-BCG; SDA Bocconi. Youtube: Angelina's Business World

Hi there,

This might vary from office to office, but my BCG office in Europe did not take into account prior consulting experience: e.g. candidate A fresh out of college, candidate B with 2 years industry experience, and candidate C with 1-2 years consulting experience would start off at the same point (an entry-level, associate, position) with the same compensation package and the same promotion timeline. 

The only wiggle room I can see is the signing bonus negotiation

In any case, the lack of discrimination should not deter you from accepting an MBB offer, as the image/exit options/learning advantages they offer will largely compensate for one lost year, which in the grand scheme of your career is really negligible.

Good luck! 

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Ian gave the best answer

Ian

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