All questions tagged salary - Consulting Q&A - PrepLounge.com

Hi there,

Glassdoor can be a good source for you to check salaries for specific offices.

Cheers
Serhat

Hi,

The salary is non-negotiable. Pls check the glass-door for numbers.

Best

MBB does not ask you for salary expectations

Best

Hi Anonymous,

it is not true that you need to put your salary expectations on every application in Germany. It is common practice in most industry corporations, but NOT with large strategy consulting firms. Speaking for MBB, it is definitely not part of what is asked for and you should not include it in your application letter! The salary is standardized anyway.

Cheers, Sidi

Hi Anonymous,

speaking for MBB:

• Conditions are fixed and identical across all cities in Germany (non-negotiable for fresh university graduates)
• You get a lump-sum relocation allowance (you could call this relocation bonus)
• Starting salary around 70-75k for master level ("Fellow" at McK / "Associate" at BCG), around 100-110k for PhD/Top-MBA level ("Associate" at McK, "(Junior) Consultant" at BCG).
• Possibility for firm car (or corresponding mobility package as an alternative at McK) on top. Here the policies differ a bit across the firms.

Hope this helps!

I don't think you have tax attorneys here, so no-one is truly qualified to answer. As a consultant, you won't have much time to figure it out anyway... just hire a professional, your company should be able to help with that.

Hi A,

Glassdoor will give you an estimate.
Mind that salary is different across regions.

Kind regards,
Egor

Is the question still relevant? If so, I am happy to share my views as a gp Alumnus

Hi Anonymous,

first of all congratulations for your offer! Did they mention if you can have a faster growth to Associate? If not, such proposal is a bit unusual, as normally in these cases you have the opportunity (related to your performance) for a faster promotion to the next level. Having said that, if you don't have an alternative MBB offer there is probably no space for negotiation.

Best,

Francesco

No - salaries are standardised and this would not be asked.

This varies across geographies. As Guennal has said, the compensation will roughly start at the same level, but can diverge quite significantly at manager level +. In London, all major consultancies (to my knowledge) start at £40k-£45k base for pre-MBA positions and £80-90k for post-MBA positions. One area though where pay can differ significantly is bonus - while bonus might range from £6-10k+ at MBB in the first year, the comparable bonus at other firms is likely to be slightly lower.

However, some Tier 2 firms (e.g. Oliver Wyman) may pay their employees less on average than MBB, but really compensate top performers - so the best associates at Oliver Wyman might earn more than the best associates at Bain.

Hey Levente,

As you may imagine, consultants are not supposed to share concrete information on salary levels, however you can get a good glimpse of them in websites such as glassdoor.

That said, I can share with you a couple of insights: salaries differ (significantly) from office to office (in part to compensate for differences in standard living costs, but not only); there is indeed an interesting jump from BA to Associate levels, but again for all roles there is a considerable difference in jumps across offices (btw, the biggest jump should be to Partner though!)

Hope this helped out

50-60k Euro + 10% bonus

Hi Anonymous,

as mentioned by others, the main thing you can negotiate is your entry level in the firm (eg Senior Associate with 12 months to Consultant vs 6 months to Consultant). It would be very difficult to negotiate a different standard salary for a fixed seniority level, as this would create inequality in the firm. On the other hand, if you can negotiate a higher initial entry level, this should bring a higher salary or faster promotion track without creating imbalance in the company, thus would be feasible.

You can definitely try to negotiate your entry level in the firm. The degree of negotiation depends obviously on how valuable you can be for the company (usually the more senior, the more valuable). In any case, you should be aware that with a higher level, expectations on your performance will also be higher.

Best,

Francesco

Hope answer to this is not too late. Offer is similar to C level for regular deloitte. There is room for negotiation. Source: asked Deloitte Digital acquaintances.

Hi Anonymous,

McKinsey has a very rigorous salary structure. As an incoming Associate you will be compensated the same as any other associate. The only exception would be if you were hired as an Expert.

I don't have direct experience but a good friend of mine worked there for a little while and had a very positive experience.

- SALARY: Lower than the MBB but competitive with other companies of the industry

- EXIT OPTIONS: After the period at Horvath, he had the chance to move to one of the MBB

- AMOSPHERE: He found it very good, definitely more relaxed than in the MBB. He forced good and long lasting relationships with colleagues. Some consultants specifically choose Horvath over the MBB for the better lifestyle that it allows

Hi,

Based on my experience:

• Big4 companies pay more than in other countries since in Dubai taxes are not deducted
• Big3 companies pay the same since they adjust the net compensation to match across most of the countries (excl some regions in Africa, etc)

Good luck!

It depends on the firm. MBB hire PhDs/JDs/MDs at post-MBA level so the salary is same as MBA graduates. They are hired at McK at associate level and at BCG and Bain at consultant level.

The salary depends largely on the office and geographic location. For example, in the US, it is around $150K + up to 20% of base salary as performace bonus + sign on bonus.

Masters are hired at entry level read Business Analyst at McK or Associate at BCG but at a higher cohort than an undergrad. So the pay is a bit better than undergrads.

Tier-2 firms (OW, BAH, RB, Strategy&, etc.) tend to hire PhDs at a lower level than MBA grads.