McKinsey ASC Salary Progression?

Question

Hi PrepLounge Family!

Does anyone know what % of base + bonus or total compensation increase one should expect after their first year as an Associate (making $175K base)? Does the raise come a full calendar year after your hire date or beginning of actual calendar year (i.e., Jan2023).

TIA!

Answer 1

Hello Tia,

Thanks for your question!

Typically base salary raises at the same level (before promotion) come at the beginning of the calendar year and are more to adjust for Inflation (historically +2 / 3% of base).

For Bonus, the % of bonus typically increases between ASC year 1 and year 2 - target bonus typically is increased by +30/40% (e.g. from 20% to 30%)

Cheers,

Nicolas

Answer 2

Hello,

This is going to vary by office location. Generally raises come at the beginning of the calendar year.

Answer 3

Hi there,

You should just ask!

HR both knows and readily provides this info. At firm-wide each year these numbers are revealed. Or, you can just ask your fellow coworkers! It's going to depend on the region, time period, etc.

Answer 4

Hi, Based on my knowledge from friends working there, the starting salary range for an associate is around $70-80k... (read entire answer)

Hi, Based on my knowledge from friends working there, the starting salary range for an associate is around $70-80k as base salary, On top of which you get a housing allowance... (read entire answer)