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Salary Negotiation

McKinsey
New answer on Feb 21, 2021
11 Answers
1.4 k Views
Anonymous A asked on Feb 03, 2021

Hello everyone,

I have an interview scheduled with Mckinsey and have a question regarding Salary.

Are the salaries at Mckinsey fixed or do I have to negotiate?

Right now I am working in India and I compared my salary to the data which is available on Glassdoor and found out that my salary is very low. Now in the interview, will the interviewer ask me the salary which I am earning in my current role and on basis of that they will pay me?

How should I negotiate?

(edited)

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Best answer
Ken
Expert
replied on Feb 03, 2021
Ex-McKinsey final round interviewer | Executive Coach

Assuming you are applying for an entry-level consultant role (i.e., BA, JASC, ASC), you will not be asked about your current salary as it is pretty much fixed. If there is a substantial difference between your current and proposed salary then there might be a little room for negotiation with the sign-on bonus. The other exception is if you are a lateral hire from another consultancy where they might be willing to start you with a 2nd year salary to manage the difference (e.g., manager from tier 2 joining as an associate).

Good luck!

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Vlad
Expert
replied on Feb 03, 2021
McKinsey / Accenture Alum / Got all BIG3 offers / Harvard Business School

Hi,

First of all, McKinsey salaries are not negotiable. Secondly, they will not ask about your current salary, don't worry

Best

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Florian
Expert
Content Creator
replied on Feb 03, 2021
Highest-rated McKinsey coach (ratings, offers, sessions) | 500+ offers | Author of The 1% & Consulting Career Secrets

Hey there,

McKinsey salaries (esp at lower levels of the hierarchy) are fixed. Your previous salary has no impact and won't be a topic of discussion during the interview.

Good luck!

Cheers,

Florian

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Antonello
Expert
Content Creator
replied on Feb 03, 2021
McKinsey | NASA | top 10 FT MBA professor for consulting interviews | 6+ years of coaching

Hi, congrats on the offer! I confirm the salary is fixed and there will be some bonuses depending on the role and the office

Best,
Antonello

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Clara
Expert
Content Creator
replied on Feb 03, 2021
McKinsey | Awarded professor at Master in Management @ IE | MBA at MIT |+180 students coached | Integrated FIT Guide aut

Hello!

Congrats! I guess this means you have the offer in the hand.

I am surprised that you even have this conversation, since most of the times salary is standard and fixed.

Can you clarify your tenure?

Cheers,

Clara

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Anonymous replied on Feb 03, 2021

Hi A,

first of all, congrats on gettin the interview!

I agree with the other coaches: McKinsey salaries in the consulting space are definitely fixed (+ there is a variable bonus component, which you cannot negotiate either).
Also, I have not heard of anyone being asked about their current salary.

Hope this helps. Cheers,

Jonas

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5
Udayan
Expert
Content Creator
replied on Feb 03, 2021
Top rated Case & PEI coach/Multiple real offers/McKinsey EM in New York /12 years recruiting experience

McKinsey has a standard salary structure for all roles (with minor exceptions for back office roles) for every office. You do not need to worry about negotiating salary.

Best,

Udayan

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Gaurav
Expert
Content Creator
replied on Feb 03, 2021
#1 MBB Coach(Placed 750+ in MBBs & 1250+ in Tier2)| The Only 360 coach(Ex-McKinsey + Certified Coach + Active recruiter)

Hi there,

The salaries in McKinsey are fixed, so no need to worry about it!

Good luck for your interview!

Cheers,

GB

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Ian
Expert
Content Creator
replied on Feb 03, 2021
#1 BCG coach | MBB | Tier 2 | Digital, Tech, Platinion | 100% personal success rate (8/8) | 95% candidate success rate

Hi there,

You won't be able to negotiate on salary and it's fixed (i.e. they won't ask you for your current pay). In terms of negotiating, you can try to get a better signing bonus...I doubled mine so happy to talk through what to do here!

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Anonymous replied on Feb 03, 2021

Agree with the other posts. Salaries are fixed and there is no room to negotiate. If you're an experienced hire and joining at a more senior tenure, there might be room to negotiate a sign-on bonus.

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Raj
Expert
Content Creator
replied on Feb 21, 2021
FREE 15MIN CONSULTATION | #1 Strategy& / OW coach | >70 5* reviews |90% offers ⇨ prep-success.super.site | MENA, DE, UK

Is this an entry-level role? If so, compensation is fixed and consistent across all firms

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Ken gave the best answer

Ken

Ex-McKinsey final round interviewer | Executive Coach
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