2012 Management Consulting Salaries – Undergraduate, MBA, Interns, and More

We know this an important topic to you – we get tons of comments and emails from our readers wanting to know our updated numbers for consulting salaries.  Here, we’ve compiled data on management consultant salaries from sources with offers starting in 2012 from the following firms:

-Accenture (undergraduate and post-MBA) -A.T. Kearney (undergraduate U.S. and Canada) -Bain (undergraduate and post-MBA) -BCG (undergraduate and post-MBA) -Booz & Co (undergraduate) -Deloitte (undergraduate and post-MBA) -Ernst & Young (post-MBA) -Infosys (post-MBA) -L.E.K. (post-MBA) -McKinsey (undergraduate and post-MBA) -PwC (undergraduate) -Mercer (undergraduate and post-MBA; includes all areas – human capital, actuary) -Oliver Wyman (financial consulting and Dubai undergraduate)

Keep in mind, these are estimates for full-time jobs that start in the Fall of 2012.  If these don’t jive with your personal experience, we want to hear from you – add your comments at the bottom of the page.

We also included data on 2012 summer internships for those of you still a year out from full-time hire.  The consulting firms we have data on for summer internships are:

-McKinsey -Bain -BCG -Deloitte -A.T.Kearney -IMS -PwC -ZS Associates

Where it’s not otherwise stated, the salaries are for U.S. offices and are in USD.  Again – want to weigh in on how things are in different parts of the world?  All our data is posted anonymously, so feel free to post a comment below or share by email.

= = = = = First year out of undergraduate = = = = =

For Deloitte…

Signing Bonus: $10,000 Base: $70,000 Performance Bonus: DNK – – – – – Total compensation: $80,000 + Retirement & relocation: monthly retirement fund portion match, year-end 10% retirement fund contribution

For Accenture (MCDP)… Signing Bonus: $2-5,000 Base: $58-70,000 Performance Bonus: up to $5,000 – – – – – Total compensation: $65,000 + Retirement & relocation: Relocation $1,500 and up based on distance

For A.T. Kearney…(Canada figures in parentheses) Signing Bonus: $5,000 (Canada: $5,000) Base: $65,000 (Canada: $70,000) Performance Bonus: $9,750 (up to 15% of base salary) (Canada: $14,o00 – up to 20% of base salary) Profit Sharing: up to $6,500 (up to 10% of base depending on firm performance) – – – – – Total compensation: up to $86,250 Retirement & relocation: Firm matches 25% of your 401(k) contributions up to 6% of your pay. Relocation assistance depends on the distance between your office and your school residence: 51-800 miles = $5,000, and 801+ miles = $10,000.  (Canada: Relocation $3,000-$10,000)

For Bain… Signing Bonus: $5-7,000 Base: $70-75,000 Performance Bonus: up to $15,000 (20% of base salary) for your first year – – – – – Total compensation: $90,000 + Retirement & Relocation: 401(k) contribution of 4.5% of base + bonus, no contribution required. Relocation based on distance (e.g., $4,000 given for distance of 1,100 miles).

For Booz & Co in New York Signing Bonus: $5,000 Base: $72,000 Performance Bonus: up to $14,400/20% of base – – – – – Total compensation: up to $91,400 Retirement: $7,200/10% of base + up to $820/5.7% of bonus Relocation: $5-15,000

For Boston Consulting Group… Signing Bonus: $5,000 Base: $72,000 Performance Bonus: up to $16,200 (22.5% of base salary) Profit Sharing: up to $4,400 (expected to be 5% of sum of base salary and performance bonus) – – – – – Total compensation: up to $97,600 Retirement & Relocation: BCG contributes 15% of your base + bonus into your 401(k) retirement, and now requires employee contribution. Relocation based on distance (e.g., $2,000 given for distance of 120 miles).

For Mercer… Signing Bonus: DNK Base: $60,000 based on 40 hour work week Performance Bonus: no bonus, instead paid time and a half for all hours over 40 @ approximately $45/hour – – – – – Total compensation: Variable Retirement & relocation: DNK 

For McKinsey… Signing Bonus: $5,000 Base: $70,000 Housing: $5,000 Performance Bonus: none for BAs – – – – – Total compensation: $80,000 Retirement & relocation: 12% of total annual compensation, $3,000 relocation.

For PwC… Signing Bonus: $3-5,000 Base: $65,000 Performance Bonus:  10-15% first year, increases each year – – – – – Total compensation: $74,500 + Relocation: included in signing bonus

For Oliver Wyman – Financial Consulting (Dubai figures in parentheses)… Signing Bonus: $10,000 (Dubai: $2,000) Base: $75,000 (Dubai: $60,000) Performance Bonus: up to $15,000 (20% of base salary) for your first year, and 40% of base salary for your second year (guaranteed) (Dubai: 10% of base) – – – – – Total compensation: $100,000 Retirement & relocation: DNK (Dubai Housing Allowance: $15,000)

We’ve added figures for consulting salaries abroad as well:

Canada (in CAD):

  • For Oliver Wyman: $70,000 base + $10,000 signing bonus
  • For McKinsey: $70,000 base + $6,000 signing bonus + $10,000 to RRSP
  • For BCG: $72,500 base + $5,000 signing bonus
  • For Monitor: $67,000 base
  • For Accenture: $68,000 base + $10,000 signing bonus
  • For Accenture SI: $54,000 base + $3-5,000 signing bonus
  • For Deloitte: $60,000 + $3,000 signing bonus
  • For Deloitte TechStrat: $55,000 + $2,000 signing bonus
  • For ZS Associates: $75,000 + $5,000 signing bonus, performance bonus capped at 10% first year (then cap removed) + retirement matched 100%

EMEA (in euro):

  • For BCG in Amsterdam: €45,000 base, up to 15% bonus, €3,000 moving allowance
  • For Bain in Amsterdam: €42,000 base, up to 25% bonus, €4,000 moving allowance
  • For Booz in Amsterdam: €48,000 base, up to 15% bonus,
  • For M/B/B in Spain: €30-35,000
  • For Deloitte and PwC in Spain: €20-25,000
  • For McKinsey Research Analyst in Poland: €22,000 base
  • For McKinsey Consultant in Poland: €50,000 base
  • For Deloitte Consultant in Poland: €43-45,000 base
  • For Deloitte/PwC Manager in Poland: €67,000 base

(Average country salary in Poland: readers say it ranges from €10-17,000)


  • For Deloitte in New Zealand: NZD$44,000 base + NZD$2,000 signing bonus
  • For BCG in Australia: AUD$64,900 base + AUD$15,000 signing bonus

= = = = = First year out of MBA/grad programs = = = = =

For Bain… Signing Bonus: $20,000 Base: $135,000 Performance Bonus: up to $35,000 for your first year – – – – – Total compensation: $184,000 Retirement: 401(k) contribution up to $8,000

For BCG… Signing Bonus: $20,000 Base: $135,000 Performance Bonus: up to $40,000 for your first year Relocation: $2-5,000 depending on distance – – – – – Total compensation: at least $197,000 Retirement: up to $9,000/5% of bonus + salary is put into retirement fund, no contributions required Down the road: Project leaders at BCG (approximately 2-3 years out of B-school) were paid $185,000 base.

For L.E.K…. Signing Bonus: $25,000 Base: $135,000 Performance Bonus: up to $25,000 for your first year Relocation: $5,000 – – – – – Total compensation: at least $190,000 Retirement & profit sharing: up to $30,000

For McKinsey… Signing Bonus: $20,000 Base: $135,000 Performance Bonus: up to $35,000 for your first year Relocation: $2-9,000 depending on distance – – – – – Total compensation: at least $192,000 Retirement: up to $20,400/12% of bonus + salary is put into retirement fund, no contributions required

BCG and McKinsey post-grad/MBA salaries are almost identical – although McKinsey has a $10K lower base, they also have a $10K higher retirement contribution.

For Deloitte… Signing Bonus: $35,000 Base: $130,000 Performance Bonus: DNK Relocation: $0-10,000 depending on distance (e.g. new hire who moved 200 miles was given $5,000) – – – – – Total compensation: at least $165,000 Retirement: monthly retirement fund portion match, year-end 10% retirement fund contribution

For Accenture… Signing Bonus: $33,000 Base: $132,000 Performance Bonus: DNK Relocation: DNK – – – – – Total compensation: at least $165,000 Retirement: DNK

For Mercer… Signing Bonus: DNK Base: $85,000 Performance Bonus: up to $17,000/20% of base – – – – – Total compensation: at least $102,000 (does not include signing bonus) Retirement & relocation: DNK

For Infosys… Signing Bonus: $20,000 Base: $117,000 Performance Bonus: DNK – – – – – Total compensation: $140,000 + Retirement & relocation: $3,000 non-discretionary relocation ( reimbursement for movers/storage)

For Ernst & Young… Signing Bonus: $20,000 Base: $120,000 Performance Bonus: DNK – – – – – Total compensation: at least $140,000 Retirement & relocation: DNK

No word yet on whether or not Deloitte still covers your second year of B-school tuition just for signing after a summer internship…any updates?

One reader confirmed:  “Yes, Deloitte still pays for the 2nd year of b-school if you are a Summer Associate there and sign on full-time.”

= = = = = Summer Internships = = = = =

Unless otherwise noted, these are salary figures for the duration of the internship:

A.T.Kearney: $11,000 Accenture MBA: $11,000 + $4,000 relocation – NY and Chicago BCG: $11,000 Bain: $11,500 Deloitte (S&O/Tech/HC): $10,800 + bonus IMS: $11,000 + bonus L.E.K.: $11,000 PwC: $27.50/hour + overtime (and 1 week trip to Disney World) McKinsey: $10,500 ZS Associates: $11,000

Some perspective

Compared to 2011 consulting salary levels, most of the compensation data is pretty flat…which reflects the fact that hiring numbers were depressed for a few years and competition for top talent from other industries (including Banking) have been weak.  We’d expect to see some pickup in 2013 however – many firms have higher targets going into fall recruiting.

As always, we would love to share compensation data if you have it for other firms, regions and seniority levels.  We will directly update this post as the data comes in, and it’s all posted anonymously.  Thanks in advance!

Any questions about compensation?  Curious about how it stacks up to other industries?  Any surprises?  Leave your feedback below…

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  • Cerise

    PwC full time post-undergrad:
    Base: 65k
    Signing: 3-5k (depending on relocation, I believe)
    Bonus: 10-15% first year, increases each year

  • Deloitte Hire

    Yes- Deloitte still pays for the 2nd year of b-school if you are a Summer Associate there and sign on full-time.

  • Guest

    McK offers $3000 relocation assistance on top of what’s listed above

  • Guest

    What region is this?

  • Cerise


  • FNG

    are MBB salaries supposed to be consistent across offices and individuals or are they variable? I ask because I’m starting soon and apparently getting shorted a few thousand.

  • Mollyelizabeth88

    Graduating from a Chicago school next week. Starting this fall with a mid tier firm. Can confirm both Accenture and Booz & Co match the BCG figures listed here although both applied various weights to individual and firm performance to assess performance bonus. I don’t remember retirement contributions but can check if interested. Based on feedback from case prep friends salaries across all firms MBB and the rest are pretty close. A big differentiator though is whether your firm has hit their firm performance targets. The ones I interviewed with had in recent years.

  • Cerise

    I believe they vary slightly across offices. At least, I know the Big 4 firms have variation across offices.

  • Intern

    What does DNK mean?

  • Intern

    Does Not Know, right?

  • Guest

    B4 have significant differences across markets, but are always lower than MBB/Booz/etc.

  • ABC

    LOL, Poland’s average salary is more like EUR 10k (gross)

  • Pfitzjr

    Since I saw housing included in McKinsey BA, I just wanted to point out that BCG provided relocation bonuses for Associates as well. Don’t know what the cap was, but my bonus came out to $2k for about a 100 mile move for office in the SE.

  • No name


    Zs associates full time
    BA position

    Base 75000
    Signing bonus 5000
    First year performance 10%
    match retirement saving by 100%

  • No name

    Relocation fee 2500
    Bonus cap of 10% removed after one year

  • Simon

    Are those monthly Summer Internship salaries for both MBAs and undergrads? 
    They seem considerably higher than the FT undergrad salaries. Is that the norm in consulting?
    BCG: $11,000 x 12 = $132,000 — base salary, using summer internship monthly rate.BCG: $72,000 — base salary, first year out of undergrad

  • Funny_guy_right_here

    Then why did you answer? har-de-har-har

  • Bobobob

    Do MBB firms offer differing pay across different MBA schools even if they are headed to start in the same office and region?

  • Guest

    ATK Canada –  
    Signing: 5,000
    Performance: Up to 20% (14,000)
    Relocation: 3,000-10,000

  • Analyst

    Few math mistakes on the Booz & Co numbers:

    1) 20% of 72k is not $12k but rather $14.4k.  This brings the 1st year total for Booz up to $91.4 (less relocation, retirement)

    2) 10% retirement off of $72k is not $6k but rather $7.2k

    3) 5% off maximum bonus is $820 not $684

  • Guest

    For associate (post-undergrad) at BCG, I also got 4k in relocation, which pushes total possible to $101.6k.  $4k is the max — depends on how far you live.

  • Guest

    Any idea on location pay difference? Houston vs NY vs San Fran?

  • jennyrae

    Hi – Location pay differences differ across firms…some firms have a one-firm standard status (Bain is a typical example), but others give cost-of-living adjustments. Readers – any other input?

  • Guest

    ACN – SF
    Base: 70K
    Signing Bonus: 8K
    Relocation: 4K
    Performance: 4%
    Match 6% for 401k

  • Guest

    Accenture MBA summer internship (monthly): 1100 USD + 4000 relocation fee – NY & Chicago

  • Guest

    oops i meant 11000 not 1100 for accenture mba internship

  • Guest


    Is this senior business analyst or entry BA?

  • Focused77

    Hi. Great work! I have a request/comment. Is there any way we can get PhD starting salaries? I would want to see the “financial” difference btwn MBAs/PhDs. Thank you!

  • Guest

    MBB firms offer the same pay regardless of your school.

  • Amina

    Do have any data about the UK? London in particular. Thanks!

  • Guest

    BCG Australia for Associate (entry-level)
    Sign-up bonus: A$ 15,000
    Annual Salary: $A 64.900
    Bonus: no idea yet :)
    Relocation: available, but I did not use it

  • Deloitte Analyst 2011

    Deloitte Consulting in NZ: 44k NZD base
    Signing bonus: 2k NZD

  • Dwkelly83

    Just got done interviewing with Deloitte for Life Sciences consulting role last Friday.  They indicated moving ahead with offer and I am looking for it in writing.  Will contact with data once I have it in.

    Experienced hire, grad degree in healthcare admin from top MHA school.

    This blog is incredibly useful as so far it’s sounding like they intend to low-ball.

  • Jinny

    Currently at Deloitte as a SS. Interns are paid hourly with overtime, full time usually not. I’m probably coming out of my summer with ~14,000? That being said, your math is wrong. Internships are roughly 2.5 months; 11,000 is full salary for internship. Full times also get benefits that interns don’t get. Fitness subsidies, PTO, etc. 

  • Steven

    For the summer internship salary information, is that for undergrad consulting summer internships or MBA consulting summer internships. I know from my business school’s employment data, those numbers seem a bit low for MBA consulting summer internship pay for 10 weeks but they seem accurate for the undergraduate consulting summer internship pay.

  • Guest

    E&Y (undergrad)
    Base: $68k
    No signing bonus.
    Performance bonus unknown.

  • Guest

    So weekly pay for MBA summers is $275?

  • Guest

    E&Y advisory?

  • Jason

    Did you change your figures?  Saw these a week ago, and thought you listed both McK and BCG for post mba as $209K total comp.  Appreciate if the figures/intel have changed and why.

  • AliceJohnson

    Thanks for this nice and valuable post i like it.

    management for schools

  • pharmaExp

    What should my expectations be heading into management consulting mid-career? 15 years in biotech, vc, pharma including customer-facing with MBA (top 100) and cancer PhD (top 10). Will they want me for a SME? I can’t find listings with remotely my experience – is it only through networking that I can get in?

  • pharmaExp

    How did that work out?

  • ventjock

    I’d like to hear about your offer. I am obtaining my grad degree at a top health admin program (MPH program)/top 25 university. I have 3 years of work clinical experience within healthcare and completing a summer internship at a top healthcare system (think Hopkins, Mayo, Kaiser, Mass Gen) doing internal strategy consulting.

  • Georgetown Grad

    ACN – DC
    Base: 67K
    Signing Bonus: 8K
    Relocation: 2K
    Performance: 4%
    Match 6% for 401k
    Total: At least 77,000

  • Guest

    ACN pays for second year too. Does anyone know if you can cash it out

  • TuckMBA

    Another datapoint – A friend of mine at Tuck summered with The Parthenon Group. His total summer internship compensation was $35,000 (bonus + base). 

  • TuckMBA

    *for 10 weeks

  • Guest


    ZS Associates full time
    Out of undergrad (Associate)

    Base 60k
    Signing 5.5K
    First Year Bonus (avg.) 6K
    Retirement Match – up to 3%
    Relocation: 4K

  • hswoo.lse

    Deloitte UK – London
    Graduate (Undergraduate)

    Bonus: N/A
    Bonus: Performance based up to 5% for 1st year analysts and 2nd year analyst unknown.

  • CDN

    I’m a graduate student at an Ivy (not MBA). I was Deloitte Canada summer student. It was a 16 week internship with a prorated yearly salary of $58,000. It also included overtime and health insurance. I received a full time offer for summer 2013 of $70,000, plus a $5,000 signing bonous.

  • david

    how much emphasis is placed on where you get your mba?

  • Ross MBA

    Accenture also provides tuition reimbursement up to $50,000 – The added benefit here is that they gross it up, so depending on your tax bracket it will be in the $60-65K range.

  • Ross MBA

    …should mention that Accenture’s tuition reimbursement is available for MBA interns who go back full time

  • Romney2012

    Any information/data yet from Summer 2012 offers for Fall 2012 full-time?

  • Romney2012


  • EuropeGrad

    A.T. Kearney business graduate student (MSc, not MBA):
    Base: €65,000
    Bonus: 10-15%
    Car: BMW 3 series, Audi A4, Mercedes C-class etc.
    Plus benefits (retirement, relocation, health etc)

    Associate (PhD without experience):
    Base: €80,000
    Bonus: around 20%
    Car: same

    McKinsey, BCG etc pay the same base, slightly differ in bonus and car. Deloitte etc pay significantly less (around €45-50,000 base).

  • techwarrior

    Well I make 180k base plus 20k bonus so paying 200k for an EMBA from Wharton is NOT worth it.

  • DTTL

    Deloitte 2012 Summer internship:
    $30/h + $45/h overtime for 10wks -> $12-16k

    Deloitte 2013 Full time:
    $72.5k base
    $10k signing bonus
    6% 401k matching

  • Guest

    E&Y Advisory (Undergrad) NYC:
    base: 68k
    signing bonus: 5k
    performance bonus: up to 2k
    relo: DNK
    retirement: 2.5% 401k contribution of total compensation

  • Guest

    Mckinsey BA US
    base: 70k
    bonus: 5K
    housing: 5k
    relocation: up to 3k

  • freshman

    Excuse my ignorance, but I would like to spsecify – if all figures discussed here are gross or net (of profit tax and other respective accruals)?

  • Guest

    is that for undergrad or master student?

  • 123

    Accenture MBA Full-Time Consultant

    Base: 135K
    Signing Bonus: 35K
    Performance Bonus: Up to 30K
    Relocation: 8K

  • kaBOOM

    Where are you guys seeing the Deloitte retirement info? I’m looking at their benefits page and the match looks like only 1.5% total for 6% invested (1:4)? I also do not see anything about a 10k end of year contribution that is discussed in the article above.

  • Guest

    What region is this?

  • Kms

    Is there any information available for Europe First Year Out MBA? I’m 27 doing IT consulting in Germany without an MBA and earning 65k

    plus 15% with 25 vacation days and 13 public holidays. I’m considering pursuing an MBA now, but these numbers make the value proposition poor

  • HYP2013

    I can confirm the Oliver Wyman numbers posted above for GMC- NY – 2013.

  • 1234

    This is the number for SF, not sure about other offices.

  • Guest

    The 2013 numbers are accurate. I am confused about 401k matching as the website mentions $.25/dollar through the first 6%…

  • MBA13

    Yeah Deloitte does only match 25% of the 6% of your salary for 401k. Not sure where these guys got the retirement thingy. The 401k sucks ar deloitte and so does AIP bonus thing. There is no mention of target bonus etc in the offer letter. Deloitte needs to bump its numbers if it is competing with MBB (if they think they do)

  • MD1

    Just accepted my Deloitte offer, and I can confirm that these numbers are accurate (I received 72.5k base, + 10k signing).

  • Trakkih

    Offer for BCG Internship in Summer 2013: $12,500

  • Question

    I assume this is B-school, not undergrad summer internship?

  • Guest

    What office is this in?

  • Aleks

    For McKinsey Consultant in Poland: €50,000 base
    Is it for the 1st year out of undergrad?

  • D.GConsulted

    PwC in Canada is $55,000 in Canada (western region) with discretionary 5-15% bonus for undergrad w. no experience.

  • Guest

    For undergrad or master’s?

  • Ajax

    Salary depends on many variables. However, can anyone provide evidence or at least a good argument for starting salary at a Deloitte or Booz Allen Hamilton given the following profile: Professional has 7+ years of professional experience (private and public sector), an MPA degree, but no certifications or security clearance. This person will be in management consulting for Federal clients (Treasury, HHS) focused on organizational efficiency or change management issues. What’s your starting salary estimate?

  • Matt Beglinger

    This is a great resource, thanks for posting.

  • Analyst

    Accenture MCDP – Chicago, Washington D.C.

    Base: $70,000
    Signing: $8,000
    Performance: 10% of base (expected)

    Accenture MCDP – Atlanta:

    Base: $68,000
    Signing: $8,000
    Performance: 10% of base (expected)

  • ff

    i think Dubai numbers are higher, at least from the people I’ve spoken with. they also have no taxes so take home pay is very nice.


    Add to your figures for Accenture (MBA/grad. 1year out)
    Performance Bonus: 30,000
    Relocation: 10,000

  • Gassbags

    I’ve read online that some people earn a starting salary of only 32k from consulting. I don’t know what companies they work for nor do I know how big they are. Is this typical or are these people who graduated from a top 100 university with a major in art history.

  • Guest

    I’m interested in changing careers but have an MBA. Want to be a consultant. What would the salary be like for me?

  • smartyp

    I just received similar offer, but for summer associate in life sciences. $8750/month + $2500 relocation

  • jennyrae

    Right. Do Not Know.

  • jennyrae

    You will have to network extensively, and with the right firms for your background. Contact us directly through our form at the top of the page if we can help you further. You have your work cut out for you, but nothing is impossible.

  • Guest

    MBA or undergraduate?

  • workinman

    Accenture as an experienced MBA consultant.

    Base $145K, no signing bonus.