2017 Management Consulting Salaries for Undergraduates, MBAs/Grads, & Interns


Welcome to 2017!

This year promises the first total solar eclipse of the 21st century, the 2017 World Expo, and the French and German elections—fingers crossed these will not cause the pandemoniums of Brexit and the indelible 2016 US election. The field of management consulting also continues to have its fair share of excitement. This past year, many top consulting firms experienced revenue growth of 7-13%. In many firms, a salient driving force behind revenue growth was the increasing demand for digital consulting services. This has led to a proliferation in the recruitment of data scientists, software specialists, and engineers as consulting firms develop their digital practices, thereby offering wider avenues for those hoping to break into consulting.

Those who manage to break into management consulting firms in 2017 will be recipients of steadily increasing consulting salaries. At top firms in the US, management consulting salaries have risen an average 4-5%, keeping well ahead of inflation. As noted by many, management consulting salaries in the US are exceptionally high when compared with other countries around the world. There are several reasons for this, the most notable being talent acquisition competition pressure from numerous banking and technology firms. In the United States, top undergraduate students can attain six-figure salaries on Wall Street, at tech giants like Google, and even at hot Silicon Valley startups. As management consulting firms prefer to recruit the crème de la crème, who are currently in high demand in the US, these firms must pay the premium by offering high compensation packages.

2017 Consulting Salary Data

Using compensation data we received from industry insiders, successful interview prep clients, and our loyal readers, we have compiled a list of management consulting salaries for those joining firms in 2017. This list contains data for interns and for those starting fresh out of undergraduate and MBA/graduate programs. All the salary figures are in US dollars unless otherwise denoted. Also, the listed salary data is solely for those in management consulting roles within these firms.

Bonus Truth

When evaluating compensation packages offered by consulting firms, there are several things to note with regards to bonuses. For the performance bonus, only the top 5-10% of employees receive the listed maximum amount. Average performers receive bonuses closer to half of the maximum amount, while poor performers typically only receive a small bonus if any.

Also, the size of relocation bonuses is primarily driven by distance one would have to move to work in the specified office location. If offerees live in the same city as the firm office, they are either offered no bonus or a small courtesy bonus (normally $2,000 in the US). However, if offerees live in a distant state or country, they are typically offered the firm’s maximum relocation amount.

Relocation and signing bonuses can be administered in several different ways. Although they are typically distributed in advance, they can be rewarded on the start date (e.g. at IBM GBS), or they can even be spread over several years (e.g. L.E.K.). When choosing between offers at different firms, we recommend placing more consideration on the base salary and performance bonus than on the size of the total compensation which includes the signing bonus. Because base salaries play a crucial role in determining future salaries, a base salary of $140,000 paired with a $20,000 signing bonus is preferable to a base salary of $136,000 paired with a signing bonus of $25,000, all else being equal.

After accepting an offer from a consulting firm, remember to consider taxes before planning bonus spending. Taxes can be withdrawn before you receive the payments, which can leave you in a dilemma if you planned to purchase that $10,000 ring with a $10,000 bonus. Alternatively, bonus taxes can be withdrawn from future paychecks, reducing your monthly take-home income.

Compensation Variation Across Office Locations

Our subscribers have asked us how consulting compensation packages vary across different offices within the same country. The salary data we collected shows that management consulting salaries are typically flat across all offices within a country. There are some exceptions. In the United States, offices in San Francisco sometimes proffer slightly higher salaries than other offices, partly because of the talent war with Silicon Valley firms. Other notable exceptions are Big 4 firms, where we sometimes witness a slight variance in compensation packages.

Exceptions aside, flat compensation packages have two important implications. First, one can maximize realized income by choosing an office location where the cost of living is lower. Be warned, maximizing realized income does not necessarily yield the sexiest alternative (e.g. choosing Atlanta over New York). Second, flat salaries leave little opportunity for salary negotiation, unless you are a top performer or experienced hire.

Below is the salary data for those joining consulting fresh out of an undergraduate or MBA program. If you recently received a management consulting offer that differs from any of the listed figure below, or if you have data from any other consulting firms or from any other location around the globe, we would love to hear from you. Send us an email or leave a comment below. As always, your anonymity is guaranteed.

1st Year Out of Undergraduate Program Salaries

Accenture Strategy Undergraduate Salary

  • Base: $80-85,000 (Canada: C$70,000)
  • Performance Bonus: up to $8,500 (10% of base)
  • Total Cash (sum of above): up to $93,500
  • Retirement: 6% match for 401k
  • Stock: 15% discount of Accenture stock
  • Signing Bonus: $10,000 (Canada: C$10,000)
  • Relocation: up to $5,000

A.T. Kearney Undergraduate Salary

  • Base: $72,000 (Canada: C$70,000)
  • Performance Bonus: up to $14,400 (20% of base in US and Canada)
  • Total Cash (sum of above): up to $86,400
  • Retirement: 6% match for 401k
  • Profit Sharing: up to $7,200 (10% of base depending on firm performance)
  • Signing Bonus: $5,000 (Canada: C$5,000)
  • Relocation: up to $10,000 (Canada: up to C$10,000)

Bain & Company Undergraduate Salary

  • Base: $83,500
  • Performance Bonus: up to $12,525 (15% of base)
  • Total Cash (sum of above): up to $96,025
  • Retirement: 4.5% of base + bonus into 401k, no contribution required
  • Signing Bonus: $5,000
  • Relocation: $2-8,000

Boston Consulting Group (BCG) Undergraduate Salary

  • Base: $84,000 (Canada: C$78,000) (Aus: A$67,000) (Germany: €68,500)
  • Performance Bonus: up to $16,800
  • Total Cash (sum of above): $100,800
  • Retirement: Profit sharing deposited into 401k account
  • Profit Sharing: up to $4,400
  • Signing Bonus: $5,000 (Canada: C$8,000) (Aus: A$15,000)
  • Relocation: $2-8,000 (Germany: €3-10,000)

Booz Allen Hamilton Undergraduate Salary

  • Base: $60,000 (Dubai)
  • Performance Bonus: up to $9,000 (15% of base; Dubai)
  • Total Cash (sum of above): up to $69,000 (Dubai)
  • Housing Allowance: $15,000 ($22,000 if married/family; Dubai)
  • Relocation: up to $15,000 (Dubai)

Deloitte S&O Undergraduate Salary

  • Base: $78,000 (Canada: C$66,000) (NZ: NZ$47,000) (UK: £39,500) (Germany: €50,500)
  • Performance Bonus: up to $11,700 (15% of base) (UK: up to 5%)
  • Total Cash (sum of above): up to $89,700
  • Retirement: 6% match for 401k
  • Signing Bonus: $12,500 (Canada: C$5,000) (NZ: NZ$2,000)
  • Relocation: up to $2-5,000

EY Undergraduate Salary

  • Base: $75,000
  • Performance Bonus: None
  • Total Cash (sum of above): $75,000
  • Retirement: 2.5% of base + bonus into 401k, no contribution required
  • Signing Bonus: $3-7,500
  • Relocation: up to $2,000

FTI Consulting Undergraduate Salary

  • Base: $68,000
  • Performance Bonus: up to $10,000
  • Total Cash (sum of above): up to $78,000
  • Signing Bonus: $7,000
  • Relocation: up to $1,000

Huron Undergraduate Salary

  • Base: $67,500
  • Performance Bonus: up to $6,750 (10% of base)
  • Total Cash (sum of above): up to $74,250
  • Retirement: 6% match of base into 401k
  • Stock: $5,000 (25% match of personal investment up to $20,000)
  • Signing Bonus: $5,000
  • Travel Bonus: up to $3,750 (typically $3,000)
  • Relocation: up to $2,000

IBM Global Business Services Undergraduate Salary

  • Base: $68,000 (Canada: C$68,000)
  • Performance Bonus: up to $8,160 (12% of base)
  • Total Cash (sum of above): up to $76,160
  • Retirement: 5% match for 401k
  • Signing Bonus: $7,000 (Canada: C$5,000)
  • Relocation: up to $3,000

KPMG Undergraduate Salary

  • Base: $68,000 (Canada: C$58,000)
  • Performance Bonus: up to $8,160
  • Total Cash (sum of above): up to $76,160
  • Signing Bonus: Rare
  • Relocation: up to $2,000

L.E.K. Undergraduate Salary

  • Base: $74,000
  • Performance Bonus: up to $14,800 (20% of base)
  • Total Cash (sum of above): up to $88,800
  • Signing Bonus: $7,500
  • Relocation: up to $2,500

McKinsey & Company Undergraduate Salary

  • Base: $83,000 (Canada: C$80,000) (Germany: €67,000)
  • Performance Bonus: up to $18,000 (Canada: up to C$24,500)
  • Total Cash (sum of above): up to $101,000
  • Retirement: 7% of annual compensation (Canada: C$10,000 to RRSP)
  • Signing Bonus: $5,000 (Canada: C$5,250)
  • Relocation: $2-10,000 (Germany: €3-€5,000)

Mercer Undergraduate Salary

  • Base: $65,000
  • Performance Bonus: No bonus, instead 1.5x pay for hours over 40/week
  • Total Cash (sum of above): $65,000 + overtime
  • Signing Bonus: $3,000
  • Relocation: up to $2,000

Oliver Wyman Undergraduate Salary

  • Base: $77,500 (Canada: $75,000)
  • Performance Bonus: up to $15,500 (20% of base salary)
  • Total cash (sum of above): up to $93,000
  • Signing Bonus: $10,000 (Canada: $10,000)
  • Relocation: up to $2,000

Parthenon-EY Undergraduate Salary

  • Base: $90,000
  • Performance Bonus: up to $10,000
  • Total Cash (sum of above): up to $100,000
  • Signing Bonus: $10,000
  • Relocation: up to $2,000

PwC Undergraduate Salary

  • Base: $72,000 (Canada: C$61,000)
  • Performance Bonus: up to $10,800 (15% of base) (Canada: up to $9,150—15% of base)
  • Total Cash (sum of above): up to $82,800
  • Signing Bonus: $5-10,000
  • Relocation: up to $2,000

Strategy& Undergraduate Salary

  • Base: $85,000
  • Performance Bonus: up to $8,500 (10% of base)
  • Total Cash (sum of above): $93,500
  • Retirement: 6% of base + up to 5.7% of bonus into 401k, no contribution required (5 year vesting period)
  • Signing Bonus: $10,000
  • Relocation: up to $8,000

ZS Associates Undergraduate Salary

  • Base: $73,000 (Canada: C$75,000)
  • Performance Bonus: up to $7,300 (10% of base) (Canada: up to $7500—15% of base)
  • Total Cash (sum of above): up to $80,300
  • Retirement: 3% match for 401k
  • Signing Bonus: $5,500 (Canada: C$5,000)
  • Relocation: up to $4,000 (Canada: up to C$2,500)

1st Year Out of MBA/Grad Program Salaries

Accenture Strategy MBA/Grad Salary

  • Base: $147,500 (Canada: C$140,000)
  • Performance Bonus: up to $44,400
  • Total Cash (sum of above): up to $191,900
  • Retirement: 6% match for 401k
  • Tuition Reimbursement: up to $80,000 ($50,000 after taxes)
  • Signing Bonus: $25,000 (Canada: C$15,000)
  • Relocation: up to $8,000

A.T. Kearney MBA/Grad Salary

  • Base: $147,000 (Germany: €85,000)
  • Performance Bonus: up to $44,100 (Germany: up to €16,000)
  • Total Cash (sum of above): $191,100
  • Retirement: 401k contribution up to $8,000
  • Signing Bonus: $25,000 (plus $10,000 for summer interns)
  • Relocation: up to $10,000 (Germany: up to €5,000)

Bain & Company MBA/Grad Salary

  • Base: $148,000 (Canada: C$120,000)
  • Performance Bonus: up to $37,000
  • Total Cash (sum of above): up to $185,000
  • Retirement: 401k contribution up to $8,000
  • Signing Bonus: $25,000
  • Relocation: up to $5,000: up to $8,000

Boston Consulting Group (BCG) MBA/Grad Salary

  • Base: $147,000 (Dubai: $130,000)
  • Performance Bonus: up to $44,100
  • Total Cash (sum of above): up to $191,100
  • Retirement: Profit sharing deposited into 401k account
  • Signing Bonus: $30,000 (Dubai: $30,000)
  • Relocation: $2-8,000

Booz Allen Hamilton MBA/Grad Salary

  • Base: $120,000 (up to $145,000 depending on work experience; Dubai)
  • Performance Bonus: up to $30,000 (25% of base; Dubai)
  • Total Cash (sum of above): up to $150,000 (Dubai)
  • Housing Allowance: $32,000 ($50,000 if married/family; Dubai)
  • Relocation: up to $25,000 (Dubai)

Cognizant Business Consulting MBA/Grad Salary

  • Base: $125,000
  • Performance Bonus: up to $15,000
  • Total Cash (sum of above): up to $140,000
  • Signing Bonus: $20,000 (Dubai: $30,000)
  • Relocation: up to $6,000

Deloitte S&O MBA/Grad Salary

  • Base: $140,000 (Canada MBA: C$125,000)
  • Performance Bonus: up to $30,800 (22% of base)
  • Total Cash (sum of above): $170,800
  • Retirement: 1/4 match of first 6% into 401k for a total of 1.5%
  • Tuition Reimbursement: full 2nd year tuition for returning interns
  • Signing Bonus: $25,000 (additional $17,500 for returning interns, $20K early signing) (Canada: C$20,000)
  • Relocation: $2,500 if local; up to $10,000 otherwise

EY MBA/Grad Salary

  • Base: $145,000
  • Performance Bonus: up to $31,700
  • Total Cash (sum of above): up to $176,700
  • Signing Bonus: $25,000
  • Relocation: up to $5,000

IBM Global Business Services MBA/Grad Salary

  • Base: $130,000
  • Performance Bonus: up to $13,000
  • Total Cash (sum of above): up to $143,000
  • Signing Bonus: $25,000 (additional $15,000 for returning interns)
  • Relocation: up to $4,500

IMS Consulting Group MBA/Grad Salary

  • Base: $128,000
  • Performance Bonus: up to $16,000
  • Total Cash (sum of above): up to $144,000
  • Signing Bonus: $25,000
  • Relocation: up to $8,000

Infosys MBA/Grad Salary

  • Base: $122,500
  • Performance Bonus: up to $25,000
  • Total Cash (sum of above): $147,500
  • Signing Bonus: $20,000
  • Relocation: up to $3,000

Kalypso MBA/Grad Salary

  • Base: $124,000
  • Performance Bonus: up to $15,000
  • Total Cash (sum of above): $139,000
  • Signing Bonus: $15,000
  • Relocation: up to $3,000

KPMG MBA/Grad Salary

  • Base: $140,000
  • Performance Bonus: up to $25,000
  • Total Cash (sum of above): $165,000
  • Signing Bonus: $35,000
  • Relocation: up to $5,000

L.E.K. MBA/Grad Salary

  • Base: $150,000
  • Performance Bonus: up to $25,000
  • Total Cash (sum of above): $175,000
  • Retirement & Profit Sharing: up to $30,000
  • Signing Bonus: $25,000 (additional $25,000 for returning interns)
  • Relocation: up to $5,000

McKinsey & Company MBA/Grad Salary

  • Base: $152,500
  • Performance Bonus: up to $35,000
  • Total Cash (sum of above): up to $187,500
  • Retirement: up to $11,900 (7% of qualified compensation, capped at $170,000)
  • Signing Bonus: $25,000
  • Relocation: $2-9,000

Mercer MBA/Grad Salary

  • Base: $95,000
  • Performance Bonus: up to $19,000 (20% of base)
  • Total Cash (sum of above): up to $114,000
  • Signing Bonus: $20,000
  • Relocation: up to $3,000

Parthenon-EY MBA/Grad Salary

  • Base: $170,000
  • Performance Bonus: up to $9,000
  • Total Cash (sum of above): up to $179,000
  • Signing Bonus: $35,000
  • Relocation: up to $2,000

PwC MBA/Grad Salary

  • Base: $135-140,000
  • Performance Bonus: up to $27,000
  • Total Cash (sum of above): up to $167,000
  • Starting Bonus: $25,000
  • Relocation: up to $2,000

Strategy& MBA/Grad Salary

  • Base: $152,000
  • Performance Bonus: up to $34,900
  • Total Cash (sum of above): up to $186,900
  • Retirement: 6% of base + bonus into 401k, no contribution required (5 year vesting period)
  • Signing Bonus: $25,000
  • Relocation: up to $3,000

Here are a few more consulting salaries in EMEA:

  • Bain Associate in Amsterdam: €47,500 base, up to 25% bonus, €4,000 moving allowance
  • BCG Associate in Amsterdam: €49,000 base, up to 15% bonus, €3,000 moving allowance
  • Strategy& Associate in Amsterdam: €52,000 base, up to 15% bonus
  • Deloitte Consultant in Poland: €46,500 base
  • Deloitte/PwC Manager in Poland: €71,500 base
  • McKinsey Consultant in Poland: €55,000 base
  • Deloitte and PwC Associate in Spain: €27,000
  • M/B/B Associate/Analyst in Spain: €37,000

Internship Salaries

Internships range from 9-12 week periods in the United States to 12-16 week periods in Canada and the EMEA. Typically, monthly internship salaries are prorated based on the starting base salaries for a new hire minus the bonuses. Here are the internship salaries for undergraduates and MBAs/Grads:

Undergraduate Program Internships

  • Accenture Strategy: $31.50/hr, plus signing bonus and overtime
  • A.T. Kearney: $12,000
  • Bain: $14,750 (10 weeks)
  • BCG: $14,500 (10 weeks)
  • Deloitte: $32/hour ($48/hour for overtime, ~ 50 hours a week)
  • IMS: $11,500 + bonus
  • L.E.K.: $12,000
  • McKinsey: $14,500 (10 weeks)
  • Oliver Wyman: $11,750 + $2500 signing bonus (9 weeks)
  • PwC: $39/hour (8 weeks plus 1 week trip to Disney World if received return offer)
  • ZS Associates: $12,000

MBA/Grad Program Internships

  • AT Kearney MBA/Grad$11,800/month
  • Bain MBA/Grad: $29,000 (10 weeks)
  • BCG MBA/Grad: $30,000
  • Deloitte MBA/Grad: $29,750 + full 2nd year MBA tuition for returning interns
  • EY MBA/Grad: $30,000 ($10K/month)
  • IBM MBA/Grad: $24,000 + $4,500 relocation
  • IMS MBA/Grad$11,500/month + $5,000 signing bonus
  • L.E.K. MBA/Grad$3125/week (9 weeks) + up to $25,000 tuition reimbursement for returning MBA interns
  • KPMG MBA/Grad$66/hour ($99/hour for overtime, 10 weeks)
  • McKinsey MBA/Grad: $31,000 (10 weeks)
  • Parthenon-EY MBA/Grad$27,000 + $5,000 signing bonus (for 10 weeks)
  • PwC MBA/Grad$11,700/month
  • Strategy& MBA/Grad$12,500/month
  • ZS MBA/Grad$11,500/month + $5,000 signing bonus

Salaries Along the Consulting Career Path

The above salaries are for interns and those graduating from undergraduate and graduate programs. After working in the firm for over a year, one can typically expect a 12-20% increase in total cash (base + performance bonus). After working 2-3 years in a consulting firm, one either leaves the consulting firm or is promoted. Here are current figures for management consultant salaries at each promotion level within a top management consulting firm:

First-year out of undergrad:

  • Base: ~$80k
  • Signing Bonus: ~$5k
  • Performance Bonus: up to ~$12k

First year out of MBA:

  • Base: ~$150k
  • Signing Bonus: ~$25k
  • Performance Bonus: up to ~$44k

Manager/Project Leader (2-3 years out of MBA):

  • Base: $190-210k
  • Bonus: $80-120k

Associate principal/Senior project leader (4-5 years out of MBA): 

  • Base: $230-300k
  • Bonus: $110-200k

Junior Partner/Principal (6-8 years out of MBA): 

  • Base: $320-400k
  • Bonus: $300-500k

Senior Partner/Director (10+ years out of MBA): 

  • Base: $400-600k
  • Bonus: $500k+ (all-in, senior partners at top firms usually make $1M+; top partners can make $4-5M while ultra-performers can make more)

Although the golden handcuffs easily become more enticing as one is promoted within consulting firms, you can typically receive a pay increase when leaving consulting firms. It is no secret that those joining banking or trading roles can often receive at least a 50% increase in compensation, although their work/life (or more realistically, work/sleep) balance might suffer. You can also leave consulting for Corporate America, where the work hours are typically less, and also receive a pay increase. In 2014, the average consultant who joined Corporate America received an average compensation increase of 10-20%.

Conclusion

Consulting salaries have been bullish for the past several years and the trend has continued into 2017. Too bad you cannot easily buy a call option on consulting salaries. However, you can capitalize on this trend by working at a management consulting firm (aside from rising salaries, there are several other reasons why you might want to join). If you are interested in breaking into consulting or have any specific questions, we are here to help you. Don’t hesitate to contact us at team@managementconsulted.com or book a Power Half Hour with one of our ex-MBB consultants.

If you have already decided that you want to break into consulting and want the best odds possible, take advantage of our world-class interview prep and resume prep services. We work hard to offer world-class services, and as a result, over 55% of our Black Belt clients received offers from top management consulting firms in 2016.

If you were offered a 2017 management consulting position, congrats! You deserve a pat on the back and a glass of champagne. As we aim to aid future consultants by sharing accurate compensation data, we would appreciate any salary data that you share. Add a comment below or send us an email. As always, your anonymity is guaranteed.

More Reading

  • Sasha

    Accenture Strategy’s base is $147,500 first year out of MBA.

  • Allison Raye Will die painfuly

    How much is Oliver Wyman 1 year out of mba

  • Andrew

    Oliver Wyman doesn’t recruit post-MBA so there are no “traditional” post-MBA Comp #s.

  • 2017MBA

    I received

  • 2017MCMBA

    Are these PwC MBA FT stats specifically for San Francisco? I know of NYC and Chicago offers at 135k base/25k starting bonus (not signing). Also, a 10k early sign incentive for interns was not offered to my knowledge.

  • SmOkin Guam

    How come consulting salaries are so much higher in the US than they are in Germany?

  • Douglas Hammond

    As a surgeon, I’ve been saving lives for 20+ years. I’ll never make this kind of money.

  • Iamdn10

    Do people who have already started at the MBB with a lower salary get the higher salaries based on these offers, or are you locked in (e.g. Last year’s offers were 80k, these are closer to 83-84k).

  • k_nonymous

    It is primarily because consulting firms in the US want to hire the best graduates, but they are competing for this talent with firms on Wall Street, who pay very well. It is a supply-demand situation. That dynamic may not exist in Germany.

  • A b

    Strategy& does not offer 10% 401k match… that was a Booz policy which was switched with pwc.

    It is now a 6% match with a 5 year vesting period

  • Karan Kochhar

    These salaries are based on MBA from Canadian Schools?, which ones in particular?, are these the top(top 10) echelon schools?. I would like to see the correlation between the salaries posted above and the MBA programs that they have graduated from.

  • Norma

    This mistake has been on every list for the last 3 years…

    BCG does not offer a 401k match across most (if not all) US offices and has not for several years. The profit sharing is deposited into a 401k account INSTEAD of any matching.

  • Matt

    Not partner money, but surely better than the first 3 levels?

  • ICanDoItToo

    Teachers help shape the lives of thousands of students over their career for 1/10 the amount you make.

  • Pandabear88

    I find this hard to believe. All the family practitioners I know make more than senior consultants, and some of the surgeons I know make $300k+ with a few at almost a million. As for the teacher comment, it sucks but they also don’t need practically 12+ years of education, need to take out massive loans to get there, or have huge malpractice insurance to deal with. The job isn’t cushy but it isn’t also life or death. That and the opportunity cost of becoming a doctor is HUGE. Just saying…

  • Anonymouse

    IBM GBS MBA intern pay is $24,000 + $4,500 relocation. So $28,500 in 9.5 weeks, not $26,500.
    EY MBA intern is $10k/month.

  • Anon

    How much is Accenture Strategy Internship compensation from Summer 2016?

  • MBBnoob

    This is right. I’ve done the doctor vs. consultant math a dozen times with friends in both professions. The NPV of being a doc is 1.5x consultant under the most unfavorable set of assumptions. With any specialty, that floor rises to 2-3x. Docs have a more differentiated skill set, require more school, aren’t subject to up-or-out, etc.

  • Anon

    For 2016 MBA summer associates, that is.

  • deals68

    Does out-of-MBA salary here also apply to other master’s degree?

  • MSgrad

    As for PwC, is the salary here also valid for technology consulting/advisory with master’s degree?

  • JD

    More than likely, not.
    MBAs are usually grouped into a like category with JDs and MDs when it comes to consulting. I guess it depends; most firms view a master’s differently. I’ve seen this difference in listings that specified MBAs being hired as “associates” and master’s being hired as “analysts” ..fact check me; this is a good question because I have my engineering master’s and decided to go back to school for the MBA

  • JD

    Hey, do you know Accenture Strategy Summer Associate intern pay from Summer 2016?

  • MBBnoob

    No. Non-MBA masters grads typically come in at the same level as undergrads. Keep in mind that most MBA grads have 3-7 years of full-time work experience as well.

  • Charles Calthrop

    Plenty of surgeons make at least this kind of money, with some making considerably more. (With a far longer shelf-life – ‘up or out’ attrition is pretty harsh, and very few make it to the senior levels. 60-70% of consultants don’t make it to Manager/PL (and that’s probably a somewhat conservative estimate, it’s likely lower), of those perhaps a third make it to Principal/Pre-Partner, and of those, perhaps one in five will make Partner in a good year. (In bad years, wash out is higher. Even taking the high ends of my conservative estimates, around 2.6% of those post-MBAs will make it to partner. (And yes, there’s up or out at the Partner levels as well.)

    Not to mention, I can’t imagine the work of being a surgeon getting mundane. As you progress at a partner level, life gets a bit episodic and you begin to question your life decisions. (This might also account for where the attrition comes in.)

  • MBAgrad

    MBB UK: 1st year post MBA: Between 80k-90k GBP base depending on firm. Roughly 110k USD.

  • Alex

    Above it says that it’s typical for the salaries to be flat across regions and such, however this leads me to wonder whether this holds true regardless of the city where the position is being offered. For example, I was looking at Accenture’s website and they have offices in major metro areas such as New York, Chicago, Arlington (D.C.), Boston, etc. but they also have offices in much smaller cities such as Boise, ID and Florham Park, NJ. The question is, are there separate tiers for salaries depending on the city? For example, would the major cities have salaries that are essentially the ones posted above, while the much smaller cities have salaries that are somewhat lower, or is the flat salary rule applicable even when comparing Boise to NY? I’m asking this because I’m about to start an MBA at ESADE (Spain) and have been talking to someone from Accenture whom was very helpful but doesn’t know much about entry level MBA salaries (he only has a Bachelor’s). I’m in NJ and their nearest office to me is Florham Park which would mean that I could live at home and not pay rent, however this would only be worth it if the flat salary rule were true across the board. If not, then NY it is. I just find it hard to believe that someone would pay a freshly minted MBA close to $200K in suburban NJ, but if that’s the case, then that’s great!

  • JD

    Be mindful that the salaries listed for most of the firms are for the Strategy organizations, as opposed to the overall company in general. Accenture Strategy is a much smaller business unit than the overall Accenture company. Accenture Strategy offers such enticing salaries and only has offices in a handful of places.

  • Alex

    Alright, this makes a lot more sense. I figured it was too good to be true. I guess I’ll have to look for something in NY then and just stay at my aunt’s rent controlled apartment in Brooklyn. Hopefully I won’t have to pay $3K for a one-bedroom!

  • eystaff1

    EY NYC PI Advisory Staff:
    Base: $75 000
    Signing Bonus: $7 500
    Year End Bonus: (none for Staff I -> Staff II, $5000 for Staff II-> Senior)
    401k: Match up to 6% of salary

    EY NYC PI Advisory Intern:
    $30/hour with overtime at 1.5x

  • epl96

    How would compensation be impacted by graduate degrees other than MBA such as Masters in Management or Masters in Finance?

  • MBBnoob

    Asked and answered in the comments below