Hi guys, going through interviews at the moment and was trying to find information around how compensation differs between MBB firms and tier 2 firms - does anyone know a good source for this or can share some ranges based on their experience? Keen to understand how compensation differs from the consultant level and as you progress upwards..
MBB vs second tier compensation
This varies across geographies. As Guennal has said, the compensation will roughly start at the same level, but can diverge quite significantly at manager level +. In London, all major consultancies (to my knowledge) start at £40k-£45k base for pre-MBA positions and £80-90k for post-MBA positions. One area though where pay can differ significantly is bonus - while bonus might range from £6-10k+ at MBB in the first year, the comparable bonus at other firms is likely to be slightly lower.
However, some Tier 2 firms (e.g. Oliver Wyman) may pay their employees less on average than MBB, but really compensate top performers - so the best associates at Oliver Wyman might earn more than the best associates at Bain.
Glassdoor is accurate for US, Canada, UK. And directionally correct for other countries. Management consulted website also gives you a good idea of pay progression across levels.
hope it helps,
The first few years, they are roughly comparable - some boutiques may even pay you a little more. Compensation obviously isn't what MBB thinks you should join them for :)