Mck Signing bonuses

McKinsey
New answer on Feb 29, 2024
7 Answers
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Anonymous A asked on Feb 12, 2024

Hi All,

I have received a Mck offer and the HR said the only components of the package are:

- base offer

- yearly bonus

- pension scheme

 

I am surprised there is no signing bonus or relocation bonus. and can i negotiate?

P.S THIS is for an entry level position.

They said they don't negotiate for entry level so idk 

 

Appreciate your advice. 

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Francesco
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replied on Feb 15, 2024
#1 Coach for Sessions (4.000+) | 1.500+ 5-Star Reviews | Proven Success (➡ InterviewOffers.com) | Ex BCG | 10Y+ Coaching

Hi there,

Congratulations on the offer! In terms of your question:

Q: I am surprised there is no signing bonus or relocation bonus. And can I negotiate?

Normally you can negotiate the following with a consulting offer:

  1. The signing bonus
  2. The relocation bonus
  3. The level you join

The signing bonus is not offered in every country. If they said they don’t offer it, I would not recommend trying to include it.

If you have costs due to relocation, you may ask if they might cover them as a relocation bonus, if not done already.

From what you shared, the level you will join is not something you can negotiate.

Overall, if not done already, you might ask if they might cover the relocation cost. Unless you have another offer you consider equivalent (meaning: you would be indifferent between that firm and McKinsey) with better terms, I don't see much space to negotiate the other terms.

Best,

Francesco

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Cristian
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replied on Feb 13, 2024
#1 rated MBB & McKinsey Coach

Congrats on the offer, first of all!

Not all offices offer signing or relocation bonuses. My office also didn't offer one (sad :( )

To validate it, reach out to some of the new joiners from the office and ask them about their own experience of negotiating for the offer. I'm certain they will confirm what HR said. 

Since you're about to start soon in the Firm, sharing with you two articles that I wrote based on my learnings from my first years in consulting. Hope they help:

Best,
Cristian

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Adrien
Expert
replied on Feb 13, 2024
Ex-McKinsey interviewer & Senior Consultant | Harvard MBA

Hi,

Indeed, no sign-in bonus for entry-level constulants at McK. Mostly comes down to supply & demand: they hire 1% (public figure) of applicants; they do not need sign-ons to attract good profiles.

Different story for post-MBA/ experienced hires though, as such profile a little more tricky to attract.

Best,

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Udayan
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replied on Feb 12, 2024
Top rated McKinsey Case & PEI coach/Multiple real offers/McKinsey EM in New York /6 years McKinsey recruiting experience

Is this a first year BA role? 

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Anonymous A on Feb 13, 2024

Yes

Udayan on Feb 13, 2024

Typically for a 1st year BA you do not get relocation or signing bonus, but every office sets its own policy. It will be challenging and in my opinion it is not recommended to negotiate on a standard offer.

Ian
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replied on Feb 12, 2024
#1 BCG coach | MBB | Tier 2 | Digital, Tech, Platinion | 100% personal success rate (8/8) | 95% candidate success rate

Hi there,

Yes, for entry-level (no prior experience) you don't have much leverage. It is the ONE instance where I don't advise trying to negotiate.

Congrats on the offer though - well done!

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Florian
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replied on Feb 13, 2024
Highest-rated McKinsey coach (ratings, offers, sessions) | 500+ offers | Author of The 1% & Consulting Career Secrets

Hey there,

First of all, congrats on the offer! :-)

That is usually true in terms of salary+bonus+perks!

Relocation should be paid for, however. Are you moving cities/countries to your new office?

Cheers,

Florian

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Pedro
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replied on Feb 29, 2024
Bain | EY-Parthenon | Roland Berger | Market Sizing Expert | 30% discount in Feb & March

Depends on the office. 

But you can try your luck. My suggestion is to come up with a reason WHY YOU NEED that sign up bonus.

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Francesco gave the best answer

Francesco

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