Hello,
I recently accepted an offer at McK ME at the Associate level. Could someone shed any light on what the performance bonus would be like as a percentage of the base? I’ve heard it’s around 10% but would like to hear from people here what it actually could be.
Thank you very much!
PS: It’s not in the contract since it’s dependent on performance. But I guess 75% of consultants would probably get the same bonus %, so I’m curious how much that is.
(edited)
Hi there,
It's a bit of a mistery how the bonus is actually calculated since they take into account not only your performance, but also your tenure, as well as the performance of the Firm / region in that year. Anyway, on a high-level it's 5-15%. Additionally, McKinsey has a ‘severance pay’ which is an annual ‘extra’ 1-month salary for all those who are still in the firm after the 1st of December.
Hello!
This is the type of question that you should talk to with HR in the process of signing the offer (and negotiating). Reach out to them better, since they are going to be the only ones to give you the right and adequate number.
Cheers,
Clara
Hi there,
Just last week one of my ME candidates got an offer. I can't disclose the %, but what I can say is he successfully negotiated the performance bonus (adjusted the cap). He got a few other big deal changes put in as well (which I also won't divulge), but suffice to say: you should negotiate. Happy to help teach you the techniques I taught him if you're unsure as to how to do this.
For non-partner consultants it ranges from 0-35% of your base salary based on your rating at the end of year peformance review.
