Hi all,
I have recently received an offer from one of the big 3 and I was wondering if it would be wise to negotiate the salary ?
I am being offered an entry level salary when I actually have 2 years experience with another big 3 consultancy firm. I am not sure if I will risk losing my offer by trying to negotiate.
Your input would be much appreciated.
Thanks,
Hi there,
first of all, congrats to your offer - that's a great achievement!
Regarding salary: at MBB, base salary for a given role is non-negotiable, as these are standardized. Same is true for performance bonus structure. The comp elements you CAN try to negotiate are typically the following
Similar to what Francesco mentioned, you should be well positioned to negotiate tenure (e.g. 6, 12 months), given you come with relevant prior experience. While no (substantial) direct impact on comp, it is a great lever to indirectly accelerate your salary + career progression.
Regarding risk of negotiating: it's fair game to ask. As long as you stay respectful and somewhat reasonable (always need back up your positions!), there is no risk that the firm will withdraw. Don't worry.
Hope this helps. If you have further questions or would like to learn more about how to best position for the negotiation, don't hesitate to reach out via PM.
Regards, Andi
(edited)
Hi there,
Congratulations on the offer!
Q: I am not sure if I will risk losing my offer by trying to negotiate
Unless you act in a completely irrational way (if you got an MBB offer, I would expect this to be unlikely), you are not going to lose an offer if you negotiate.
The base salary is normally non-negotiable in strategy consulting. However, you may be able to negotiate the following if you have valid reasons:
Usually the easier way to negotiate is to have an “opportunity cost” due to another offer, either from a competitor or your current employer. There may also be differences in what you could negotiate due to the country you are in.
If you want to learn more about negotiation, I would recommend “Never split the difference” by Chris Voss, which includes some great tips.
Best,
Francesco
Hi there,
As long as you do it right, you don't right your offer by negotiating (again, you have to do it right).
That said, negotiating on salary will be harder than negotiating on signing bonus which is what I would advise.
If you're nervous, it's worth investing in a coach for one session! If you think about the EV (expected value), the payout is definitely there.
Hi there and congratulations on your offer!
I agree with the previous respondents: you should definitely negotiate your signing bonus. I would also negotiate promotion schedule: I saw many BCG consulting out-performing their current roles because they joined from other consulting firms and were very efficient and experienced, but were stuck in the seemingly inflexible promotion schedule. While promotion timing is hard to influence when you are already in, it can be negotiated when signing the offer - this way, you can save yourself 1-2 years.
Good luck!
Dear candidate,
feel free to negotiate the bonus part, dont push too strongly, seem reasonable and mention key the key value add you would bring. The base salary is usually not negotiable unless you are able to secure a higher role (and by this lift your salary).
Best regards
