Key Insights
- McKinsey, BCG, and Bain now pay a U.S. first-year base of $120,000 for pre-MBA hires and $200,000 for post-MBA hires starting in 2027.
- Based on MC's annual salary data, it's the first MBB starting salary increase since 2022. The new figures are verified through 2027 candidate offer letters.
- Competition for talent is driving the raise: big tech and AI labs are hiring again, and consulting firms are competing with each other as demand stays strong.
- Other consulting firms now have to decide whether to match MBB pay as they set 2027 offers, and raising entry pay squeezes the levels above it.
For the past few years, the story about consulting has been one of decline – hiring freezes and AI coming for the junior work that used to fill project teams.
McKinsey, BCG, and Bain just told that story to "hold my beer." All three firms raised U.S. starting base salaries for the 2027 class, to $120,000 for pre-MBA hires and $200,000 for post-MBA hires. Based on MC's annual salary data, it's the first MBB increase since August 2022.
Salaries rise when firms have to fight harder for the same people. Competition for consulting talent is heating up again, from big tech and AI labs hiring again, and from consulting firms competing with each other as demand stays strong across the industry.
None of the three firms announced the raise. MC verified the new numbers through candidate offer letters with 2027 start dates, submitted for our 2027 Consulting Salary Report. All three firms now pay exactly the same base at both entry levels.
How much did MBB starting salaries increase?
Pre-MBA base pay rose $8,000 to $10,000 (7% to 9%), and post-MBA base pay rose $8,000 to $10,000 (4% to 5%). BCG posted the largest increase at both levels because it started $2,000 behind McKinsey and Bain.
| Firm | Level (title) | Previous base | 2027 base | Increase |
|---|---|---|---|---|
| McKinsey | Pre-MBA (Business Analyst) | $112,000 | $120,000 | +$8,000 (7.1%) |
| Bain | Pre-MBA (Associate Consultant) | $112,000 | $120,000 | +$8,000 (7.1%) |
| BCG | Pre-MBA (Associate) | $110,000 | $120,000 | +$10,000 (9.1%) |
| McKinsey | Post-MBA (Associate) | $192,000 | $200,000 | +$8,000 (4.2%) |
| Bain | Post-MBA (Consultant) | $192,000 | $200,000 | +$8,000 (4.2%) |
| BCG | Post-MBA (Consultant) | $190,000 | $200,000 | +$10,000 (5.3%) |
U.S. first-year base salary only. Performance and signing bonuses are separate.
For context on the rest of the pay ladder, see our breakdowns of McKinsey salary, BCG salary, and Bain salary by level.
Why did McKinsey, BCG, and Bain raise salaries now?
Strong demand for consulting services is part of the story. The bigger driver is competition for the same candidates, and it's coming from inside and outside the industry.
"The death of consulting has been greatly exaggerated. – Namaan Mian, COO, Management Consulted
Tech and AI labs are hiring again
After two years of layoffs, big tech is adding people again. Top tech companies were hiring about 20% more software engineers in May 2026 than a year earlier, and Google had 62% more engineering roles posted, according to The Pragmatic Engineer.
AI labs like OpenAI and Anthropic barely registered with job seekers three years ago. Now they recruit the same top talent MBB wants, from new grads to experienced professionals – and a pre-IPO equity offer is hard for any base salary to match.
Consulting firms are competing with each other
Demand is strong across the industry. When Tier 2 firms, the Big 4, and boutiques all have work to staff, they chase the same candidates, and the top of the market has to stay ahead.
"The death of consulting has been greatly exaggerated," says Namaan Mian, COO of Management Consulted. Raising base pay is one more sign the industry is growing.
The raise was also overdue
MBB used to raise starting pay much more often than once every four years. And U.S. prices are up about 13% since the last increase in August 2022, according to the Bureau of Labor Statistics, so the new numbers close part of that gap.
Pre-MBA hires got the bigger bump
Every firm added roughly the same dollars at both levels, which means pre-MBA hires got the bigger percentage bump. That fits a shift we've tracked for several years: leaner project teams, more AI-assisted delivery, and a heavier reliance on pre-MBA hires over more expensive MBA talent. If your staffing model leans on early-career consultants, the best of them become worth paying for.
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Join Black Belt →What does the MBB raise signal for the consulting industry?
MBB moved as a bloc
Three firms landed on the same two numbers for the same start class. Before this cycle, MBB base pay was spread across a $2,000 range at each level. Now $120,000 and $200,000 is the price of entry for top consulting talent, and the round numbers make that benchmark easy for every candidate to remember.
The firms raised base pay, the permanent cost
Since the 2021–2022 hiring surge, firms have mostly adjusted pay through bonuses, which can flex up or down with performance and the economy. Base salary doesn't flex. It carries forward every year and compounds through every promotion raise built on top of it.
Our read: committing to a higher base is a bet that demand for MBB consultants will hold. A firm bracing for a slowdown would more likely have reached for a bonus.
"$120,000 and $200,000 is the price of entry for top consulting talent.
Other firms now have to decide whether to match MBB
Tier 2 strategy firms, the Big 4, and boutiques are setting 2027 offers right now, and they'll be compared against $120,000 and $200,000. A firm that keeps pay flat falls further behind MBB while it competes for the same candidates.
Raising entry pay creates a second problem: compression up the ladder. If first-year base rises $10,000 and second-year pay doesn't move, the gap between levels shrinks – and the people who notice first are the consultants a firm most wants to keep.
For consulting firm leaders
Setting 2027 compensation at your firm?
MC builds tailored compensation benchmarking for consulting firms – your pay compared to the peers and levels that matter to you, covering base, bonus, signing bonus, and profit sharing. Data comes directly from firms and verified candidate offer letters.
Schedule a 15-minute call →What does the MBB salary increase mean for candidates?
Undergrad and master's candidates
$120,000 is now the top of the market for pre-MBA base pay. A bigger prize doesn't add seats. Firms are still hiring selectively, and higher pay will pull even more applicants into MBB recruiting.
If you're weighing an offer from another firm, $120,000 is the reference point to know before you negotiate.
MBA candidates
$200,000 is the new post-MBA base at all three firms. The catch: MBA intakes at many firms have been shrinking as they shift hiring toward pre-MBA talent. The pay went up, and the class size didn't.
Experienced hires
Entry-level pay sets the floor that every level above it is priced against. When you negotiate a lateral offer, find out which level you're being mapped to first – that decision drives your base more than any line item you negotiate later.
2027 Consulting Salary Report
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Next year's candidates will recruit for offers built on these numbers – and more of them will be competing for the same seats. Preparation is the part you control. Join Management Consulted's Black Belt program to work with a team that has helped over 15,000 candidates break into top-tier consulting.
Frequently asked questions
McKinsey, BCG, and Bain pay a U.S. first-year base salary of $120,000 for pre-MBA hires and $200,000 for post-MBA hires starting in 2027. All three firms pay the same base at both levels.
The new base salaries apply to 2027 start dates.
MBB last raised starting base pay in August 2022. Post-MBA base rose from $175,000 to $190,000–$192,000, and pre-MBA base at McKinsey and Bain rose to $112,000. The 2027 increase is the first base pay increase since then.
No. The $120,000 and $200,000 figures are base salary only. MBB packages also include performance and signing bonuses, which we'll cover in the 2027 Consulting Salary Report.
MC is collecting verified 2027 offer data now and will publish firm-by-firm numbers in the 2027 Consulting Salary Report in January.