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Consulting Salaries

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Consulting Salaries [#permalink]

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New post 21 Dec 2014, 03:05
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Just thought I'd toss this here for anyone thinking of consulting as a career:

Latest information from Management Consulted - UPDATED 2015

= = = = = 1st Year Out of MBA/Grad Program = = = = =

Accenture MBA Salary
Signing Bonus: $35,000 (Canada: $15,000)
Base: $135,000 (Canada: $140,000)
Relocation: $8,000
Performance Bonus: up to $43,500 ($30K of which is MBA bonus and is only available in for your 1st year)
- – – – –
Total Compensation: up to $221,500
Retirement: 6% Employee Match
Tuition Reimbursement: up to $80,000 ($50,000 after taxes)
Vacation: 5 Weeks

A.T. Kearney MBA Salary
Signing Bonus: $20,000
Base: $140,000 (Germany: €80,000)
Relocation: $5,000 (Germany: €3-€5,000)
Performance Bonus: up to $33,500 (Germany: up to €16,000)
- – – – –
Total Compensation: up to $198,500 (Germany: up to €101,000)
Retirement: 401k contribution up to $8,000

Bain & Company MBA Salary
Signing Bonus: $25,000
Base: $135,000
Performance Bonus: up to $35,000
- – – – –
Total Compensation: up to $195,000
Retirement: 401k contribution up to $8,000

Boston Consulting Group (BCG) MBA Salary
Signing Bonus: $25,000
Base: $147,000
Relocation: $2-5,000 depending on distance
Performance Bonus: up to $42,000
- – – – –
Total Compensation: up to $219,000
Retirement: up to $9,000/5% of bonus + salary is put into retirement fund, no contributions required
Down the Road: Project leaders at BCG (~2-3 years out of B-school) were paid $165,000 base.

Deloitte MBA Salary
Signing Bonus: $35,000 ($25,000 if returning after internship) (Canada MBA: $5,000)
Base: $140,000 (Canada MBA: $95-100,000)
Relocation: up to $2,000
Performance Bonus: up to $35,000 (25% of base)
- – – – –
Total Compensation: up to $212,000
Retirement: .25 match of first 6% contributed for a total of 1.5%
Tuition Reimbursement: up to $50,000 + 2nd year tuition for returning interns

Ernst & Young MBA Salary
Signing Bonus: $25,000
Base: $140,000
Relocation: $5,000
Performance Bonus: up to $30,000
- – – – –
Total Compensation: up to $200,000

IMS Consulting Group MBA Salary
Signing Bonus: $25,000
Base: $125,000
Performance Bonus: up to $15,000
- – – – –
Total Compensation: up to $165,000

Infosys MBA Salary
Signing Bonus: $20,000
Base: $117,000
Relocation: $3,000 non-discretionary relocation (reimbursement for movers/storage)
Performance Bonus: up to $25,000
- – – – –
Total Compensation: up to $165,000
Retirement: DNK

Kalypso MBA Salary
Signing Bonus: $15,000
Base: $115,000
Performance Bonus: up to $15,000
- – – – –
Total Compensation: up to $145,000

KPMG MBA Salary
Signing Bonus: $15,000
Base: $130,000
Relocation: $2,000
Performance Bonus: up to $22,750
- – – – –
Total Compensation: up to $169,750

L.E.K. MBA Salary
Signing Bonus: $25,000
Base: $140,000
Relocation: $5,000
Performance Bonus: up to $25,000
- – – – –
Total Compensation: up to $195,000
Retirement & Profit Sharing: up to $30,000

McKinsey & Company MBA Salary
Signing Bonus: $25,000
Base: $140,000
Relocation: $2-9,000 depending on distance
Performance Bonus: up to $35,000
- – – – –
Total Compensation: up to $209,000
Retirement: up to $20,400/12% of bonus + salary is put into retirement fund, no contributions required

Overall BCG and McKinsey post-grad/MBA salaries are almost identical — although McKinsey has a lower base, they also have a higher retirement contribution.

Mercer MBA Salary
Signing Bonus: $20,000
Base: $87,000
Performance Bonus: up to $17,000 (20% of base)
- – – – –
Total Compensation: up to $124,000
Retirement: DNK

The Parthenon Group MBA Salary
Signing Bous: $35,000
Base: $170,000
Relocation: $2,000
Performance Bonus: up to $9,000
- – – – –
Total Compensation: up to $216,000

PwC MBA Salary
Signing Bonus: $25,000 (+$10,000 if you interned)
Base: $140,000
Relocation: $2,000
Performance Bonus: up to $27,000
- – – – –
Total Compensation: up to $194,000
Retirement: DNK

Strategy& MBA Salary
Signing Bous: $25,000
Base: $135,000
Relocation: $3,000
Performance Bonus: up to $33,750
- – – – –
Total Compensation: up to $196,500
Retirement: 10% of salary

=====================================================

MBA Internships
AT Kearney MBA: $11,000/month
Bain MBA: $26,000 (10 weeks)
BCG MBA: $27,000
Deloitte MBA: $28,450 + 2nd year MBA tuition reimbursement (up to $50,000)
IMS MBA: $11,000/month + $5,000 signing bonus
L.E.K. MBA: $2600/week + up to $4,000 performance bonus
McKinsey MBA: $28-29,500 (10 weeks)
Parthenon Group MBA: $27,000 + $5,000 signing bonus (for 10 weeks)
PwC MBA: $60/hour
Strategy& (formally Booz & Co.) MBA: $11,250/month
ZS MBA: $11,000/month + $5,000 signing bonus

=====================================================

Also, here's a link to a survey that looked at the industry more generally, and what people make after they leave consulting:
https://charlesaris.com/wp-content/uplo ... y-2014.pdf

Last edited by EnigmaD on 24 Mar 2015, 10:27, edited 1 time in total.

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Current Student
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Joined: 03 Apr 2014
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Kudos [?]: 24 [0], given: 46

Location: United States
Concentration: Strategy, Technology
GMAT 1: 750 Q50 V41
WE: Engineering (Aerospace and Defense)
Re: Consulting Salaries [#permalink]

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New post 21 Dec 2014, 20:15
This is fantastic, thanks!

Kudos [?]: 24 [0], given: 46

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Joined: 07 Jan 2013
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GMAT 1: 710 Q45 V41
GMAT 2: 700 Q45 V41
GPA: 3.64
WE: Corporate Finance (Consumer Products)
Re: Consulting Salaries [#permalink]

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New post 22 Dec 2014, 12:15
BCG is up to 147k base and M & B are expected to follow next year if not now.

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Re: Consulting Salaries [#permalink]

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New post 22 Dec 2014, 12:19
goinggolfing wrote:
BCG is up to 147k base and M & B are expected to follow next year if not now.


Are you sure? What school? I only got $140K and that's supposed to be US wide...

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Current Student
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Joined: 07 Jan 2013
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GMAT 1: 710 Q45 V41
GMAT 2: 700 Q45 V41
GPA: 3.64
WE: Corporate Finance (Consumer Products)
Re: Consulting Salaries [#permalink]

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New post 22 Dec 2014, 12:25
its second hand info - here's where I read that.

http://www.wallstreetoasis.com/forums/c ... fer-thread

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Re: Consulting Salaries [#permalink]

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New post 22 Dec 2014, 12:38
goinggolfing wrote:
its second hand info - here's where I read that.

http://www.wallstreetoasis.com/forums/c ... fer-thread


Interesting... thanks! I'll ask around. If anyone else wants to contribute new info, please feel free!

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Re: Consulting Salaries [#permalink]

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New post 22 Dec 2014, 15:21
wow, great stuff thanks!

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Joined: 11 Jan 2013
Posts: 47

Kudos [?]: 12 [0], given: 4

Concentration: Entrepreneurship, Strategy
GMAT 1: 760 Q51 V41
GPA: 3.55
WE: Consulting (Energy and Utilities)
Re: Consulting Salaries [#permalink]

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New post 17 Jan 2015, 10:41
At least for MBB, there are some mistakes (too low). but close enough to get the picture.

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Joined: 12 Aug 2014
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GPA: 3.91
Re: Consulting Salaries [#permalink]

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New post 20 Feb 2015, 10:57
What cities do these salaries apply to? I'm guessing they would be different based on the area one gets a position in?

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New post 20 Feb 2015, 11:40
hopeful101candidate wrote:
What cities do these salaries apply to? I'm guessing they would be different based on the area one gets a position in?



In the US at most of these places the salaries are set nationally. You get the same amount in San Fran as you do in Minneapolis.

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New post 20 Feb 2015, 12:27
Cubsfan87 wrote:
hopeful101candidate wrote:
What cities do these salaries apply to? I'm guessing they would be different based on the area one gets a position in?



In the US at most of these places the salaries are set nationally. You get the same amount in San Fran as you do in Minneapolis.


Didn't know that! Those are great numbers in that case..

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Re: Consulting Salaries [#permalink]

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New post 19 Mar 2015, 06:46
A few questions for people who are pursuing a career in consulting post-MBA:

I've done some basic research on numerous consultants' LinkedIn profiles and noticed that a large number of them have a background in engineering/technology. How important do you think is it to have this background to have a successful career in consulting? I understand that IT consultants would definitely need this background to be successful in their field, but what about general strategy management consultants? Do you feel that not having a tech/engineering background is a disadvantage?

After my MBA, I'm hoping to land a consulting gig at one of the 'Big 4'. How prominent do you think these companies are at the so-called trans-elite schools (Georgetown, Emory, Kelley, Rice)? I see quite a few of their MBA graduates end up in Big 4 consulting positions, but are these the same positions that are earning the salaries mentioned above (ie. $120k - $135k base, etc.)? When I do a glassdoor search for the salaries for these positions, they seem to be closer to the $90k - $100k mark.

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New post 24 Mar 2015, 10:27
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Updated with latest 2015 numbers, as well as internship numbers.

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Re: Consulting Salaries [#permalink]

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New post 24 Mar 2015, 10:32
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hopeful101candidate wrote:
A few questions for people who are pursuing a career in consulting post-MBA:

I've done some basic research on numerous consultants' LinkedIn profiles and noticed that a large number of them have a background in engineering/technology. How important do you think is it to have this background to have a successful career in consulting? I understand that IT consultants would definitely need this background to be successful in their field, but what about general strategy management consultants? Do you feel that not having a tech/engineering background is a disadvantage?

After my MBA, I'm hoping to land a consulting gig at one of the 'Big 4'. How prominent do you think these companies are at the so-called trans-elite schools (Georgetown, Emory, Kelley, Rice)? I see quite a few of their MBA graduates end up in Big 4 consulting positions, but are these the same positions that are earning the salaries mentioned above (ie. $120k - $135k base, etc.)? When I do a glassdoor search for the salaries for these positions, they seem to be closer to the $90k - $100k mark.


I don't think there is a consistent background for consultants. In my class, there are ex-consultants, bankers, pianists, lots of teachers, family business, etc. You get an interview with your resume and/or networking. After that, it's primarily about how you perform in the case.

I think for Big 4 consulting firms, their online salary numbers may be a bit muddled because they have so many other positions. I know this is the case for Deloitte. However, the statistics above should be correct for the post MBA roles. That being said, there is often regional variation by city for Big 4 firms, as opposed to MBB which is uniform across the US.

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Re: Consulting Salaries [#permalink]

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New post 25 Mar 2015, 12:09
QiuYidio wrote:
hopeful101candidate wrote:
A few questions for people who are pursuing a career in consulting post-MBA:

I've done some basic research on numerous consultants' LinkedIn profiles and noticed that a large number of them have a background in engineering/technology. How important do you think is it to have this background to have a successful career in consulting? I understand that IT consultants would definitely need this background to be successful in their field, but what about general strategy management consultants? Do you feel that not having a tech/engineering background is a disadvantage?

After my MBA, I'm hoping to land a consulting gig at one of the 'Big 4'. How prominent do you think these companies are at the so-called trans-elite schools (Georgetown, Emory, Kelley, Rice)? I see quite a few of their MBA graduates end up in Big 4 consulting positions, but are these the same positions that are earning the salaries mentioned above (ie. $120k - $135k base, etc.)? When I do a glassdoor search for the salaries for these positions, they seem to be closer to the $90k - $100k mark.


I don't think there is a consistent background for consultants. In my class, there are ex-consultants, bankers, pianists, lots of teachers, family business, etc. You get an interview with your resume and/or networking. After that, it's primarily about how you perform in the case.

I think for Big 4 consulting firms, their online salary numbers may be a bit muddled because they have so many other positions. I know this is the case for Deloitte. However, the statistics above should be correct for the post MBA roles. That being said, there is often regional variation by city for Big 4 firms, as opposed to MBB which is uniform across the US.


Thanks! Can you comment on salary raises each year? What are raises typically like? How similar to or different from finance/i-banking positions?

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Are you referring to salary increases when you are within the firm? Or general trends in starting salary from year to year.

Posted from my mobile device

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New post 25 Mar 2015, 18:22
QiuYidio wrote:
Are you referring to salary increases when you are within the firm? Or general trends in starting salary from year to year.

Posted from my mobile device


General trends in salary from year to year. What does a typical raise for a first year Senior Consultant to a second year look like? $10k, x% of previous year's salary, etc.?

Also, from what I have read, the next step up from Senior Consultant would be Manager/Engagement Manager and I believe starting salaries for that position were between $175k - $200k depending on the firm. Is that correct?

Thanks so much QiuYidio! And congrats on attaining a position at MBB! That's amazing!

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Re: Consulting Salaries [#permalink]

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New post 26 Mar 2015, 00:59
QiuYidio wrote:
hopeful101candidate wrote:
A few questions for people who are pursuing a career in consulting post-MBA:

I've done some basic research on numerous consultants' LinkedIn profiles and noticed that a large number of them have a background in engineering/technology. How important do you think is it to have this background to have a successful career in consulting? I understand that IT consultants would definitely need this background to be successful in their field, but what about general strategy management consultants? Do you feel that not having a tech/engineering background is a disadvantage?

After my MBA, I'm hoping to land a consulting gig at one of the 'Big 4'. How prominent do you think these companies are at the so-called trans-elite schools (Georgetown, Emory, Kelley, Rice)? I see quite a few of their MBA graduates end up in Big 4 consulting positions, but are these the same positions that are earning the salaries mentioned above (ie. $120k - $135k base, etc.)? When I do a glassdoor search for the salaries for these positions, they seem to be closer to the $90k - $100k mark.


I don't think there is a consistent background for consultants. In my class, there are ex-consultants, bankers, pianists, lots of teachers, family business, etc. You get an interview with your resume and/or networking. After that, it's primarily about how you perform in the case.

I think for Big 4 consulting firms, their online salary numbers may be a bit muddled because they have so many other positions. I know this is the case for Deloitte. However, the statistics above should be correct for the post MBA roles. That being said, there is often regional variation by city for Big 4 firms, as opposed to MBB which is uniform across the US.


I can only speak to Deloitte but, like MBB, it pays the same to incoming MBA hires at all offices. I imagine this will remain the case as long as NY and SF remain the most preferenced locations.

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Re: Consulting Salaries [#permalink]

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New post 02 Apr 2015, 21:46
Does anyone know if travel is reduced as one becomes more senior? Or vice versa?

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New post 07 May 2015, 17:37
hopeful101candidate wrote:
Does anyone know if travel is reduced as one becomes more senior? Or vice versa?


That really depends on the area you specialize in, the projects available in your local economy and also the partners you know. It does get easier when you move up the chain in terms of location preference because you will have more say. However, if you specialized in an area where your local economy does not have the project, then you will most likely be travelling for work.

It really comes down to how you plan your career and how you navigate your career once your in a firm.

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Re: Consulting Salaries   [#permalink] 07 May 2015, 17:37
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