Sign-in bonus - experienced hires

Experienced MBB Sign on Bonus
New answer on Dec 15, 2020
7 Answers
1.3 k Views
Anonymous A asked on Dec 14, 2020

Hi everyone,

currently in process with all 3 MBBs (3-year consultant at a tier-2 company, a Big Four with a strong position in my home country). If I got an offer, my role would be downgraded from a confirmed senior consultant currently to Senior Associate (Bain or BCG) / Junior Associate (McK) according to the HR. My question is about the sign-in bonus. I expect, based on my firm bonus policy, to have a significant bonus (decided in May/ June for October 2021), especially that I have always been a top performer. I should leave before, if I got an MBB offer. Could this help me ask for a sign-in bonus ? In order to partly compensate for the bonus I won't get ...

Thank you

Overview of answers

Upvotes
  • Upvotes
  • Date ascending
  • Date descending
Best answer
Adi
Expert
Content Creator
updated an answer on Dec 14, 2020
Accenture, Deloitte | Precision Case Prep | Experienced Interviewer & Career Coach | 15 years professional experience

I dont want to stump you but sounds like you are doing very well in your current role and company. So why the urgency to leave now in this uncertain climate and downgrade in terms of position/level & salary? You must have very good reasons to do that i.e. significantly better opportunities in MBB and growth prospects in the location/country your are based. Or perhaps you are fed in your current company. I hope you have rearsched this well.

Definitiely ask for sign-on bonus option if thats common practice in your market, but best way will be to negotiate an appropriate level for example top end of associate perhaps? Show your experience & value clearly to HR and hiring managers and get in at the right level.

Sign-on bonus is a one off thing to adjust for the 1st year and then you are back to the lower salary grade from 2nd yr onwards. Think bigger...

(edited)

Was this answer helpful?
Anonymous A on Dec 15, 2020

Hi thank you for your answer. The context is uncertain, this is why I haven't made up my mind yet. The move won't happen before spring 2021, I am hoping we will have more visibility then. Yes, I am doing very well, but I definetely more challenge and MBB will allow me to get on higher scale projects on the industries I like the most :) It is quite a standard move for good performers actually in my country, even during covid times. In terms of salary, it will be the same, only loss I have is on the bonus I I won't get that I will try to compensate by the sign in bonus if I get an offer of course ! I will also try to have the higher role, but it is quite standardized in my country for non-MBB recruits... thank you !

Vlad
Expert
Content Creator
replied on Dec 14, 2020
McKinsey / Accenture Alum / Got all BIG3 offers / Harvard Business School

Hi,

Usually, you get a sign-on bonus as a consultant (Bain, BCG) or Associate (McKinsey). Your compensation with any of these companies would be higher than your comp in Big4, even as a top performer, so you will not lose that much money. In any case - it does not hurt to try

Best

Was this answer helpful?
Anonymous A on Dec 15, 2020

Thank you for your reply ! The salary will be the same actually even with the lower role. It is just that I won't get my 2021 bonus (for the 10 months I spent in my current company). On senior level, the bonus is quite significant, thus my question. Many thanks

Gaurav
Expert
Content Creator
replied on Dec 14, 2020
Ex-Mckinsey|Certified Career Coach |Placed 500+ candidates at MBB & other consultancies

Hello there!

Having prepared solid argumentation it could be possible for senior hires, yours seems like it.
Try to ask HR about it first, give your reasons, but make sure that it won't be taken as a demand.

You could negotiate about a more senior position instead, but keep in mind that you need to continue keeping your performance on top.

Was it helpful?

GB

Was this answer helpful?
Anonymous A on Dec 15, 2020

Thank you for your reply !

Ian
Expert
Content Creator
replied on Dec 14, 2020
MBB | 100% personal interview success rate (8/8) and 95% candidate success rate | Personalized interview prep

Hi there,

100%

This is negotiations 101! You have a valid/reasonable reason to ask for a larger bonus. Frame it in the right light (i.e. "I'm very interested in the role, but I just need to justify the fact that I will be giving up a signing bonus") and you should be good to go!

Make sure that they know you will sign on the dotted line if they can provide you with the bonus.

Was this answer helpful?
Anonymous A on Dec 15, 2020

Thank you for your reply !

Francesco
Expert
Content Creator
replied on Dec 15, 2020
#1 Coach for Sessions (4.000+) | 1.500+ 5-Star Reviews | Proven Success (➡ InterviewOffers.com) | Ex BCG | 9Y+ Coaching

Hi there,

You can try to negotiate – a signing bonus is one of the few things you may indeed be able to find an agreement on. There is no harm in asking.

Best,
Francesco

Was this answer helpful?
Clara
Expert
Content Creator
replied on Dec 15, 2020
McKinsey | Awarded professor at Master in Management @ IE | MBA at MIT |+180 students coached | Integrated FIT Guide aut

Hello!

First of all, if you had 3 years experience in Tier 2 Consulting, being a junior Associate + no MBA would not be a downgrade in McK, it would be the normal carreer path :)

Secondly, a priori I would tell you that indeed is something to put on the table -only once and if you get the offer, not before-.

However, also to be fully transparent, MBBs are known not to negotiate for an inch, since they have pretty well stablished positions and salaries associated.

Could you clarify the geography, that is another huge point?

Hope it helps!

Cheers,

Clara

Was this answer helpful?
Anonymous A on Dec 15, 2020

Thank you. Of course, I won't be asking for anything before getting an offer (if i get one). When I said downgrade, I meant compared to my former classmates who are at McK and now Associate (after less than 3 years). I am in France, and if I go to an MBB, I would be sacrificing a significant bonus (15k++). It is of course a small price to pursue my career goals. But, just in case, I try to compensate for this "bonus loss" with a sign-in bonus if I manage to get an offer :) Cheers

(edited)

Anonymous replied on Dec 15, 2020

Hi,

This is absolutely 100% a valid reason to ask for a sign on bonus. Just prepare data on the past bonuses that you received from your firm as a back up to the number that you asked.

Was this answer helpful?
0
Adi gave the best answer

Adi

Content Creator
Accenture, Deloitte | Precision Case Prep | Experienced Interviewer & Career Coach | 15 years professional experience
176
Meetings
13,431
Q&A Upvotes
87
Awards
5.0
70 Reviews