Hello!
A couple of months ago I accepted an offer from McKinsey to start as an associate in early 2024 in one of the US offices. I was wondering if anyone knows when they are going to pay me the signing bonus and the relocation fee.
Is it inappropriate if I ask the recruiter about the payment timeline?
You usually get both with your first or second paycheck - about a month from your start date. So yes unfortunately you will most likely have to wait till you join.
yes it is totally appropriate to ask the recruiter to double check.
Hi there,
congrats regarding the offer!
Signing and relocation typically is paid within the first month of you joining the company, but typically not before you join - this creates incentives for offerees to not revoke.
Suggest you kindly check with HR, what the specific policy of your local office is, as exact terms vary by office.
Hope this helps.
Regards, Andi
Hi there,
Q: Is it inappropriate if I ask the recruiter about the payment timeline?
If that was not specified in the contract it is totally fine to ask, in particular for the relocation fee given you might need planning in advance for that.
Good luck!
Francesco
Hi there,
Congrats!
Typically they pay it just before you start - a few weeks beforehand.
But feel free to also check in with HR.
You can tell them something along the lines that you are planning on relocating soon and wanted to know when the relocation and signing bonus will be paid so you can plan the move accordingly.
This way it doesn't sound that instrumental.
If you're just starting in consulting, here are two guides that will help you become a distinctive consultant in your first year:
Best,
Cristian
(edited)
Hi there,
This should be stated in the contract.
MBA's get the signing bonus shortly after they sign. Most other hires get it after the 1st month on the job.
Relocation $ might be given earlier, and maybe be something you can push on.
You can absolutely ask the recruiter!
