Negotiating McKinsey Offer after switching countries

salary negotiation
New answer on Aug 05, 2022
8 Answers
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Anonymous A asked on Jul 30, 2022

Hi prep lounge community, 

I received an offer from McKinsey USA, but given my need for VISA sponsorship and the long delays and low approval rates for H1-B visas, it was decided that I'd be hired into a non-US office, and potentially transfer into the USA later. The possibility exists that I could stay in the new country permanently, assuming I like it there.

I just reviewed the new offer and it's significantly different from the US offer - lower in almost every category, in some cases, by a significant amount. I'm already taking a net pay cut, as I'm moving from a country where living expenses are significantly lower, and my salary will be about the same after taxes. 

So, I know salaries are non-negotiable. I'm aware that career (and hence salary) progression is much faster than the industry I'm in, so I can get over that. But I was relying on the large signing bonus to somewhat offset that in years 1 and 2 until the first promotion, but the performanc  and signing bonus in this offer I received from the other country are much lower. Anyone have experience negotiating those aspects of compensation, especially in a context where you already received an offer from a different country?

Thanks in advance for your help!

 

 

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Ian
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replied on Jul 30, 2022
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Hi there,

Say this: “I was relying on the large signing bonus to somewhat offset that in years 1 and 2 until the first promotion, but the performance and signing bonus in this offer I received from the other country are much lower”

Despite some other commentary there is a science to this :). Do the math to figure out the exact difference in salary over 2 years. Then ask for that number in signing bonus. Provide the reasoning above.

They may counter, but you should at least get a bump.

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Anonymous A on Jul 30, 2022

That's exactly what I came up with for the approach I'd take. Haven't done the specific math yet, but I will essentially compare 3 calculations, current earnings, offer 1, and offer 2, to view total financial compensation (since things like vacation and healthcare are pretty comparable and not the issue) to clearly explain the rationale. I'll come back and post an update after I get a response. The main contact is with HR. I'm assuming that's who I'm broaching this topic with, correct? That's who sent the offer and she said to let her know if I had questions. I assume this qualities.

Clara
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replied on Jul 31, 2022
McKinsey | Awarded professor at Master in Management @ IE | MBA at MIT |+180 students coached | Integrated FIT Guide aut

Hello!

I have worked in Amazon both Europe and US and the difference was -50%, literally… Feel free to reach out if you want to further discuss, since I found some room for negotiation. 

Cheers, 

Clara

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Sofia
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replied on Aug 05, 2022
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Hello,

Salaries are negotiable to some extent! I would reach out to HR, say that you are excited about the offer, and then politely explain exactly what you have said here and see whether there is any room for negotiation.

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Florian
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replied on Aug 01, 2022
#1 rated McKinsey Case and PEI Coach | 5 years at McKinsey | Mentorship Approach | 120+ McK offers in 18 months

Hey there,

Transparency is key in these situations. Communicate exactly what you have done here + support it with concrete data. I would highlight the given facts to your new local HR. There might be some room to negotiate.

Fingers crossed!

Cheers,

Florian

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Cristian
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replied on Jul 31, 2022
#1 rated and most recommended McKinsey Coach | 97% success rate (tracked) | Honest feedback: no sugar-coating

Hi there, 

I would explain to them precisely what you wrote here. Situations were the compensation is negotiated are rather the exception than the rule, but it's worth trying out especially if you have a special context such as yours. 

Best,

Cristian

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Pedro
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replied on Jul 30, 2022
Bain | EY-Parthenon | Roland Berger | FIT | Market Sizing | Former Head Recruiter

You have some room to negotiate, but there isn't a lot of science to it. You'll have to ask for a higher sign up bonus or relocation support, and explain your reasoning. They have a bit of flexibility, and given the shortage of talent they may be willing to adjust their offer. Just understand that it is a bit, not a lot.

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Ken
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replied on Jul 30, 2022
Ex-McKinsey London final round interviewer

I've seen several cases for McKinsey US vs. London.  Unfortunately there isn't much leeway where the Firm tends to see it as them doing you a favour by giving you an option to still join.  It's also worth noting that entry level BA/ASC salaries have a very small spread.  If I were in your shoes, I would ask for the same sign on bonus (as the US) and see if they can give you a (small) bump, especially if you are a strong candidate whom they are keen on.

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Anonymous A on Jul 30, 2022

Ah, sorry, forgot to mention I'm joining as an experienced hire. Thanks for your comments. Much appreciated.

Francesco
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replied on Jul 30, 2022
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Hi there,

Congratulations on the offer!

As you said, the base salary is normally non-negotiable in strategy consulting. However, you may be able to negotiate:

  • The signing bonus
  • The relocation bonus
  • The seniority you join 

The easier way to negotiate is to have an “opportunity cost” due to another offer. Technically, your previous offer is not a real opportunity cost as you cannot join in the US if you want, but you can definitely bring that point.

If you want to learn more about negotiation, I would recommend “Never split the difference” by Chris Voss, which includes some great tips.

Hope this helps,

Francesco

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Anonymous A on Jul 30, 2022

Since I'm joining as an experienced hire, I can do the opportunity cost conversation, based on my current earnings, rather than a theoretical other offer.

Ian gave the best answer

Ian

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