Senior Solution Delivery Analyst at Mckinsey

compensation McKinsey McKinsey & Company salary salary negotiation
New answer on Jan 26, 2022
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Anonymous A asked on Jan 24, 2022

Hello, 

I'm in my second round of interviews for a senior solution delivery analyst position, in the US, with two years experience from my industry. I'm well-aware that base salaries/bonuses are fixed; however, I was surprised when I got to know that there is no Sign-on bonus for this role ? Also, I was told that the relocation package has an upper cap. Any leverage to negotiate a Sign-on Bonus or increase relocation ?  What are your thoughts please?

(edited)

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Francesco
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replied on Jan 26, 2022
#1 Coach for Sessions (4.000+) | 1.500+ 5-Star Reviews | Proven Success (➡ InterviewOffers.com) | Ex BCG | 9Y+ Coaching

Hi there,

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 

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

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Ebra on Mar 04, 2022

Thanks for your feedback, I managed to get a 10% sign-on bonus and pump the base salary by 4%.

(edited)

Francesco on Mar 05, 2022

Well done Ebra, glad it worked well!

Lucie
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replied on Jan 25, 2022
10+yrs recruiting & top BCG trainer & BCG Project leader & experienced hire & ICF coach

Hi there, 

congrats on your progress through the interviews!

Packages are indeed pretty standardized, but you should still try to negotiate your:

  • signing bonus
  • reallocation package

Only approx. 0.2% of candidates reject the offer from MBB, hence, I would believe you should have a chance to negotiate, MBB are eager to get the right candidates in. 

Just as a side note to eventually consider, MBB offer faster promotion trajectory and salary increases are usually significantly higher than in the industry.

If you need help with negotiation, please reach out, I am good at that, since 8 years back getting higher compensation than my peers and I did negotiate with BCG :-)

Good luck,

Lucie

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Ebra on Mar 04, 2022

Thanks for your feedback, I managed to get a 10% sign-on bonus and pump the base salary by 4%.

(edited)

Moritz
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updated an answer on Jan 25, 2022
Unearth your spike & get the offer |ex-McKinsey | 120+ coachings & interviews @ McKinsey | ESADE MBA | Transition Expert

Generally speaking, this is a fairly junior position where you don’t hold too much leverage for sign on bonus because the potential candidate pool is simply too big. However, asking in the right way won’t hurt*

Moving cost is a different story, here you could argue that shipping prices have exploded in the past year.

Lastly, non-consultant packages are always going to be a bit less than consultant packages. Be mindful of that when comparing yourself to others.

*Made this little edit to my comment because I agree with Ian about asking - just important to manage expectations.

 

(edited)

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Ebra on Mar 04, 2022

Thanks for your feedback, I managed to get a 10% sign-on bonus and pump the base salary by 4%.

Florian
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replied on Jan 25, 2022
#1 rated McKinsey Case and PEI Coach | 5 years at McKinsey | Mentorship Approach | 120+ McK offers in 18 months

Hey there,

Salaries and perks in McKinsey are usually standardized. The only thing that differs is the bonus for your performance, which makes sense in a merit-based environment.

Bottomline: There is likely no room for negotiation here. :-)

Cheers,

Florian

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Ian
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updated an answer on Jan 25, 2022
MBB | 100% personal interview success rate (8/8) and 95% candidate success rate | Personalized interview prep

Hi there,

I'm sorry but I couldn't disagree more with Moritz.

You should always try to negotiate.

You always have leverage and it never hurts to ask (as long as you do it in the right way). I personally doubled my signing bonus and have gotten approx. $300k in additional total benefits to just myself, my friends and my family through negotiations over the past few years (that's not even candidates!).

Shoot me a message when they've sent through an offer to you. I'm happy to help you negotiate.

(edited)

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Francesco gave the best answer

Francesco

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