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Joining McK with 2 years experience - salary

Anonymous A asked on Sep 02, 2018 - 5 answers

Quick question: I received an offer in Germany after having worked in a small consultancy for two years. I would Start similar to someone fresh from Uni holding a M. Sc. (Fellow) and also get the same salary. The Partner told me there is no room for negotiation and I find it unreasonable not to have a higher salary despite having worked for two years. Any thoughts / experiences? Thank you!

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Francesco replied on Sep 03, 2018
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Hi Anonymous,

first of all congratulations for your offer! Did they mention if you can have a faster growth to Associate? If not, such proposal is a bit unusual, as normally in these cases you have the opportunity (related to your performance) for a faster promotion to the next level. Having said that, if you don't have an alternative MBB offer there is probably no space for negotiation.

Best,

Francesco

Guennael
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replied on Sep 03, 2018
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My experience matches what Francesco and Vlad describe. I was an experienced hire, 6 years out of MBA when I joined BCG - yet joined at the same level and comp as every other MBA out there. I think you might have a chance for special treatment if you come with a very specific expertise that the consultancy desperately needs right now; this doesn't seem to be your case however. Here are a few things I'd urge you to keep in mind:

1. Vlad pointed it out, career progression is very fast (and salary will jump by 10-15%/year for the foreseable future - before accounting for promotions)

2. Focus on what really matters (become more valuable); compensation will take care of itself

3. Base comps are typically standardized; if you are a rock star, your bonus will be better and promotions will come as soon as you are eligible. This has huge value, well beyond a paltry 5% bump they might give you right now

4. They can always pull the offer. Ok to ask for a little more at first, but don't rock the boat, be appreciative of the offer and don't be a jerk

5. If you really are 100% focused on how much you make and how that compares to others, you might be in the wrong line of work

Anonymous A replied on Sep 03, 2018

Thanks for the replies guys.

@ Vlad, i only partially agree since this salary is fixed for approx 2 years, maybe even 3 if I decide to take a leave. Next year, this would be a downgrade compared to what i make now at a very small firm with less working hours... Of course there is more to it, but im focusing purely on the annual salary here.

@ Francesco, thanks first of all. What you mention is exactly what i would've expected but the plan is 21 month as fellow as usual. I have my final round at BCG coming up and a friend told me that they would also put me on an entry position but most likely give me a "credit" for two years experience. That would result in a slightly higher starting salary.

Believe me - once are there you will have no time to reflect on the money — Vlad on Sep 10, 2018 (edited)

Vlad
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replied on Sep 02, 2018
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Hi,

McKinsey does not negotiate the salaries and they are very standardized. Don't worry about this - the career progression is pretty fast there.

Best

Anonymous B replied on Sep 04, 2018

Congrats on your offer! I hope things went well with BCG as well. Any tips on the interview process here in Germany? Also, what languages were your interviews conducted in? I've heard it's about 70% German, 30% English, is that fairly accurate? Thanks in advance!

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