Tier 1 vs Tier 2 Compensation (Manager level and above)

compensation
New answer on Jun 18, 2022
5 Answers
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Anonymous A asked on Jun 16, 2022

Hi,

Could someone validate the below numbers in the chart (I found it on the Q and A forum here), particularly for Manager level? The numbers are for Singapore but directionally I find it surprising that McK compensation is ~2.5x that of the Big 4. Is that a general trend across other geographies?

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Francesco
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replied on Jun 17, 2022
#1 Coach for Sessions (4.000+) | 1.400+ 5-Star Reviews | Proven Success (➡ InterviewOffers.com) | Ex BCG | 9Y+ Coaching

Hi there,

I am the author of the article, so happy to explain:

  • Data you are referring for Big 4 are from the non-strategy practice. That’s why you see division in EY and EYP or PwC and S&. Non-strategy roles pay less.
  • Data are taken from Glassdoor – so there may be some mistakes. I constantly update the article so if you have different data please feel free to share and I can provide other salaries data in Exchange.
  • Linked to the point above: some data points may not include bonuses or refer to the same seniority (data from Consultant or Sr. Consultant could be different), which could distort the results.

Having said that, comparing the 3 levels should give you a general understanding of the expected salary evolution and magnitude.

Please feel free to PM me if you want to know more about the methodology.

For those that want to check the full article here is the full link:

Top Consulting Firms Salaries in Singapore

Best,
Francesco

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Anonymous A on Jun 17, 2022

Thanks for clarifying. Your explanation makes sense and I would expect the delta b/w the two tiers to be lower (maybe 10-20%). Simply, because the difference between the talent profiles is not that big coming out of a business school.

(edited)

Francesco on Jun 17, 2022

Hi there, that was my expectation as well, but at least from the data collected so far it seems different ;) As mentioned, let me know if you find different data, happy to update the article and share other salaries in advance to thank you. Best, Francesco

Ian
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updated an answer on Jun 17, 2022
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Please don't trust glassdoor! These numbers are almost all wrong.

The MBB numbers are a bit more accurate.

But the Big4 (as you note)  are so far off the mark. From the data I have, the Big4 are all paid higher than what is shown here.

You have to remember that this is crowd-sourced…

So some of these data points have an N of one.

Think about how many people get hired in a year from a single city at a single company for a single role. Then think about how many might enter this salary into glassdoor. Then think how many might do so accurately).

Take all published salary numbers that are this granular with a grain of salt!

(edited)

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Clara
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replied on Jun 18, 2022
McKinsey | Awarded professor at Master in Management @ IE | MBA at MIT |+180 students coached | Integrated FIT Guide aut

Hello!

Being Francesco the author here, I would surely trust him very much. However, as he very well explains as disclaimer, these numbers come from sources that aren´t 1005 verified. 

however, I dont think you will get something much better unless you do a huge research. 

Hope it helps!

Cheers, 

Clara

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Kurt
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replied on Jun 16, 2022
Conducted over 100 interviews for grads, interns & experienced hires

Hi,

Overall it is normal and is reflected in the rates that these firms charge clients a $1 m project for a tier 1 can be $200k for big 4).

Oliver Wyman though seems very low to me (I was based in Singapore). It’s at least 1.5x what you have in your chart

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Anonymous A on Jun 17, 2022

Not really. I would actually not be surprised if Big 4 pay slightly higher than M/B/B for certain roles/teams (within consulting/advisory business)

Eishan
CoachingPlus Expert
replied on Jun 16, 2022
Helping consulting aspirants crack the case interview and achieve thier dream job. Bain I LBS MBA I Uber I Bloomberg

Hi, 

This seems about correct. The big4 pay in Singapore is really bad. the Analyst pay was around what my friends were making when they started at the Big4 firms, so I would say this is probably accurate. 

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Francesco gave the best answer

Francesco

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