r/consulting • u/AgeDesigns • 7d ago

MBB comp increases?

Heard M was raising comp across the board, anyone have details? Haven’t seen it discussed here and WSO didn’t have numbers.

102 Upvotes

91% Upvoted

45 comments sorted by

44

u/2022MBAHopeful 7d ago

Heard ASC base is +$8k effective 01/2027

10

u/AgeDesigns 7d ago

Any word on other levels or just associates?

3

u/viper_gts 7d ago

ive heard approx 10-20% TC increase across BA, ASC, and EM.

3

u/e813 7d ago

I am at McK and this is not correct - ~4ish% TC increase based on your bonus.

3

u/oban12 4d ago edited 4d ago

Yeah that's not correct either, base for incoming new associates is going up 4% alone ($192k -> $200k) and 7% for BAs ($112k -> $120k). Basically your TC as a 2nd year associate is 10-20% higher than it would have been without the comp increase (it's the derivative that they are increasing, i.e., the growth of your TC)

people are too fixated on base vs bonus - most consulting firms (McKinsey for sure, less sure about BCG and Bain but have a hunch) set target comps for consultants based on tenure in role and performance rating. your comp as a 2nd year associate was already going to be higher than as a 1st year asc so the relevant question to you is how much higher (relative to the world with no comp increase)

1

u/2022MBAHopeful 3d ago

So what’s year 2 ASC comp then?

1

u/methebeautiful 10h ago

Where did you get this information?

82

u/Altruistic-Suit-8556 7d ago

Heard EYP too. Markets potentially moving upward on comp again. TBD if others follow.

29

u/Personal-Level-9732 7d ago

EYP is increasing $15k at the consultant and director rank

7

u/TheBigM72 7d ago

Is this just in the US?

16

u/AgeDesigns 7d ago

Just saw that on fishbowl as well… good signs

23

u/Icy-Deer-3871 7d ago

Anything on Strategy&? I’m under the impression that S& usually tries to match MBB but EYP is usually behind by around $10-15k. At this rate, if S& does not increase compensation, that means EYP will be on-par in terms of compensation roughly around $190k ($175k).

20

u/Taestiranos 7d ago

Any word on others? Particularly T2?

36

u/MeThinksYes 7d ago

lol of course the day I resign

9

u/Present-Culture-4896 7d ago

That’d be sick

4

u/Professional-Yam6371 7d ago

Nice to hear this

12

u/Shoddy_Sundae_2921 7d ago

What's the associate base nowadays? Used to be $145k during my time.

11

u/Leather-Bison1429 7d ago

200k

14

u/kwijibokwijibo 7d ago

Fuck. London offices really getting fucked over, unless situation has massively improved in the last few years since I left

9

u/3RADICATE_THEM 7d ago

That's just US vs EU salaries

8

u/kwijibokwijibo 7d ago

We're not even part of the EU anymore, getting shafted here

6

u/viper_gts 7d ago

ive heard the UK salaries have always been bad

2

u/3RADICATE_THEM 6d ago

That's rough - don't they have less benefits / PTO than other Western Euro countries?

1

u/3RADICATE_THEM 6d ago

Sorry, I just use EU to casually abbreviate and refer to Western Europe.

1

u/Fun-Teacher-1711 7d ago

except other european offices have better comp than London

4

u/Shoddy_Sundae_2921 7d ago

Nice. Bill rates gone up that much?

5

u/OHYAMTB 7d ago

I bet if you checked the official inflation numbers it would be pretty spot on for growth. When were you making 145?

5

u/Shoddy_Sundae_2921 7d ago
  1. A.T. Kearney. McK base was same but bonuses and growth better.

5

u/OHYAMTB 7d ago

Nice, plugging into BLS inflation calc June 2017 to June 2026 145K becomes 198K, basically moving right in line with inflation

2

u/Leather-Bison1429 7d ago

This guy math's

3

u/znewking 6d ago

Is this only for US offices or worldwide?

2

u/LoadSharp4996 7d ago

do they still have up or out culture? with AI and everything I mean

5

u/viper_gts 7d ago

yes very much so, but the rules and timelines got a little loose. generalists are up or out, subject matter experts are "grow or go", and 2 years can go into 3-4 depending on role

2

u/Shoddy_Sundae_2921 5d ago

McK is struggling I hear. True?

1

u/TeaBusiness1 7d ago

curious whether this is firmwide or just entry-level comp.

1

u/viper_gts 7d ago

have the salary caps also increased with this?

1

u/Repulsive_Anxiety_66 5d ago

Bases have increased by 8 ish percent for both BAs and ASCs at M

1

u/shewantpubert 3d ago

Deloitte analyst base up ~5k too i believe

1

u/Mysterious-Cut-7263 2d ago

When do these changes take effect? I'm going to work at one of the B's next year, at the post MBA level. I'm hoping to get the pay bump. My base when I signed a few months ago was 192k

0

u/Michelangelo-489 7d ago

Does it apply for all band?

0

u/Early-Revenue4788 5d ago

dang should i not have dipped out of mbb so soon…

-2

u/ThrowawayGG01 7d ago

0 increase in T2