bain consulting salary entry level

In management consulting, your annual compensation will rise as you become more experienced. While Big Tech continues to compete with consulting for top talent, consulting continues to offer faster promotion cycles, broader industry exposure, and a better path to business leadership. Youll work on integrated teams and collaborate with a network of digital innovators to deliver better, faster and more enduring results. Last This in turn allowed them to increase max compensation through performance bonuses and profit sharing, as well as extend lifestyle perks like unlimited PTO. Still, with more eager candidates than ever before chasing the prestige and rising pay of a consulting job, the consulting job market remains incredibly competitive. View the base salary, stock, and bonus breakdowns for Bain's total compensation packages. The total average salary comes in at $98,000 with the additional pay consisting of cash bonuses, profit sharing, and commission sharing. Your email address will not be published. 158 salaries. Bonuses and other incentives Variation in the type of performance and signing bonuses will also drive differences, particularly in the entry points. There may be slight variations in the pay offered within each subset of management consulting. Have a confidential story, tip, or comment youd like to share? You're not treated like a "second-class . Still, targets drove most hiring, so if youre from a non-target school, network now and apply early. In addition to their significant role, why do consultants receive competitive pay? According to the latest data, the highest bases stem from Kearney, a firm on the decline according to the latest Vault Consulting 50 ranking. With a strong support system, global experience and opportunities to work with diverse teams, youll develop broad expertise that helps you prepare for whats next, wherever that takes you. Get an inside look at the latest 342 discussions in October 2022. . Compensation at Bain Get Paid, Not Played We've negotiated thousands of offers and regularly increase offers by $30k+ (sometimes $300k+). Determining the management consultant salary you can expect to receive, or more narrowly, a strategy consultant salary, is probably one of the defining factors in deciding which firms you will apply to. Below is an analysis of pay at the MBB firms: McKinsey & Co., Bain & Co., and BCG. Most mid-tier consulting firms pay a salary between $65,000-$70,000 for entry-level financial consultants. For entry-level hires salaries are about $83,500 on average at the top tier firms. You'll benefit from in-depth training and continuous, hands-on learning through full-time immersion on a Bain case team. Entry-level consultants can expect a performance bonus to be around 15% of their salary, senior associates around 25%. These figures include salary and bonuses. Salaries at Bain & Company Inc. range from an average of $55,324 to $147,579 a year. Bain & Company Inc. employees with the job title Management Consultant make the most with an average. Although your salary increases relatively rapidly within a top consulting firm, you typically receive a pay increase when leaving, as well as a bump in lifestyle. Entry-level consultants earn a base salary of $72,000, with a $10,00 performance bonus. The potential result? Bain & Company pays an average salary of $89,339 per year, which is $42.95 an hour. We work with bold clients who want to define the future, not hide from it. When comparing consulting roles to those in industry at the same level, there are few better options when it comes to total comp. Like. Youll develop broad expertise across industries and business challenges, allowing you to explore different areas of interest to pursue as you advance. While most historical consulting salary increases were in the 2-4% growth range, this years increase was closer to 10%, signaling the effects of a tightening labor market and increased demand. Associate Consultant R3 New York, NY Estimated $61.4K - $77.8K a year Most project managers are industry veterans with years of experience and an in-depth knowledge of problem-solving skills. The risk may be from workers compensation claims, unsuccessful investment decisions, or non-Hcompliance penalties. First Posting . This led to record revenue for many consulting firms and a continued wave of M&A activity, leading to double-digit industry growth. is_redirect && ! In other firms, salaries are sometimes adjusted to account for living costs. If youre ready to do more than you think you can do, take a bold step toward Bain and well walk that path with you. There is a large variation in management consulting salaries within firms across different countries. Select all that apply.EmailThis field is for validation purposes and should be left unchanged. 2022. . Later, I applied to Bain Korea online. But you wont do it alone. Our trainers aren't outsourced from other companies. Early on in the McKinsey case interview process, candidates will take part in an evaluation called Solve, the McKinsey digital assessment game (formerly called the, MECEis a principle used by management consulting firms to describe a way of organizing information. While most business graduates earn an average of $48,144 (according to the National Association of Colleges and Employers), consulting firms often start these new recruits off with $70,000 and above. For instance, when promoted from Associate to Consultant at BCG, your base salary almost doubles. Performance bonuses are about $15,775 on average, with a $5,000 signing bonus. Tech firms haven't gone away, so consultingfirms have taken measures to soften the blow of stagnant pay. Following a trend from the last 3 years, consulting firms have continued to increase hiring of specialists (bonus points if you have technical expertise), experienced hires, and candidates from non-target schools. The turnaround recipe blended a renewed commitment to core and hero brands with comprehensive, cross-functional brand planning. Workers in the retail department can earn an average of $154,921 per year. We hire people with exceptional talents, abilities and potential, then create an environment where you can bring your whole self to work. Likewise, PhDs often (though not always) receive the same compensation as MBAs. Base salaries for high-level personnel range between $570,000-$1,000,000, with performance bonuses of up to$300,000 varying by firm. Entry-level consultants earn $68,000 as a base salary, with a $10,000 performance bonus. Posting as : . Therefore, the performance of your entire firm will directly determine how much you can make within a specific timeframe. The 2021 salary report from industry coaching firm. NYU undergrads earn an average of $58,000. Entry-level consultants earn a base salary of $72,000, with a $10,00 performance bonus. Bonuses at the undergraduate entry-level have been as low as 0 and as high as 6,000 depending on the firm. Join 1-week virtual consulting project this January, Undergraduate & Masters Consultant Salary, Learn more about training for your team or organization. The salaries above are for full-time hires and interns coming straight from an educational program. As intense competition and digital media innovations redefine the industry landscape, one of Asia-Pacifics largest telecommunications companies needed our help. Why Management Consultant Pay is Competitive. Your priorities can shift as your life changes. They can also expect a signing bonus of $25,000.Total MBA Salary: $201,900. From a senior consultant, you can become a project manager. Junior partners or non-equity partners would make USD ~350k and young partners start at around USD 700k per year, both with more than 50% of their salary being variable based on a combination of their performance and their firms performance. To improve your skills in all areas of the interview, check out our targeted offers below. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. Some receive only 10% of the potential payout. McKinsey also offers to pay 50% of MBA tuition for returning interns. MIT grads from Sloan earn an average of $65,000. Management Consultant compensation at Bain ranges from $121K per year for associate-consultant to $283K per year for manager. Discover what 3759 verified professionals are saying about Bain & Company Salary. However, the salary growth in management consulting outpaces many industry positions. A big part of the success of consulting firms is presenting this knowledge in a confident and digestible manner. Youll also have a home office program manager, a personal advocate who works to make sure your experience at Bain aligns with your personal and professional goals. Share. Making more effective live presentations First I got invited to an office visit/information session. Management consulting firms also rely on junior associates to do a large portion of the work. Learn more about training for your team or organization Our home staffing model creates personal champions and expansive opportunities. As demand for services increases and travel demand remains depressed, consultant utilization has risen to all-time highs. Nie pamitam hasa . Again, there are some nuances when it comes to perks for MBA and PhD hires. The simple answer is that theyve cultivated professional relationships with clients. Corporate executives trust and have confidence in a particular consulting firm or even in a particular consultant. This field is for validation purposes and should be left unchanged. This is often accompanied with a performance bonus of $8,500 and a signing bonus of $10,000. Management Consultant Associate Consultant $118K Senior Associate Consultant $137K Consultant $202K Most Information Technology consultants start off with an average base salary of $75,000 for entry-level positions in lower-tier firms. It offers $8,000 for relocation distances of less than 400 miles, and $16,000 thereafter. Required fields are marked *. While the data has been validated with our applicants that received offers and triangulated with various sources, please be aware that consulting salaries are not an exact science and specific components can change relatively quickly for firms to stay competitive and usually increase every recruiting season. They may also provide advice regarding new product launches, pricing, market differentiation, etc. Florian spent 5 years with McKinsey as a senior consultant. Do you have any consulting salary data or comments that you would like to share? Your choice in career path will determine how you grow, both professionally and financially. We can help you get your desired MBB consulting offer. Stay ahead in a rapidly changing world. Because businesses face a wide variety of risks, these consultants come in handy to establish effective mitigation steps in the event of a risky situation. This means that there are multiple opportunities for growth within your career path. Lets start with your home team. The estimated additional pay is $84,850 per year. Average Bain & Company hourly pay ranges from approximately $12.00 per hour for Assistant to $45.00 per hour for Postal Clerk. Master's-level graduates get offered around $100,000 in base salary at Bain. Everyone else uses ours or uses outdated or arbitrarily averaged Glassdoor salary data, PayScale salary information, or Indeed salaries. For candidates being hired with experience or directly from MBA programs, the starting salary is more competitive. All rights reserved. Unsubscribe at any time. Information Technology consultants are often conversant with a wide variety of technologies, including data security systems and Enterprise resource planningsystems. At, entry-level management consultants may earn $100,000 each year (bonuses and profit sharing included), while senior consultants may earn up to $200,000. Our commitment to diversity, inclusion and collaboration is key to building extraordinary teams. Future margins are at risk as firms continue to raise salaries without a commensurate rise in project rates. A few of the programs we offer to give you added flexibility and options: Externships: Four to six-month externships at an organization of your choice related to your professional goals, Global transfers: Temporary and permanent relocation opportunities to work in other offices around the world, Parental leave: Generous parental leave coverage in every region for your most important transition, "Take Two": Extended breaks that allow eligible Bainies to take two months off to rejuvenate and/or fulfill personal goals, Leaves of absence: Longer sabbaticals and leaves of absence for times when life pulls you in different directions, Flextime: Part-time and job-sharing options for times when family or personal needs take priority. Like. He started StrategyCase.com with the goal to make top-tier consulting firms more accessible for top talent, using tailored and up-to-date know-how about their recruiting. They often offer higher base salaries but the roles are more siloed and the promotion trajectory is slower. 4 Comments. It's pretty reasonable to guess that he'd make back any difference in two years or less. Consultant. Intern salaries such as the McKinsey internship salary or McKinsey summer internship salary are usually pro-rated. After a 1-year blip, consulting salaries restarted the upward trajectory we have become accustomed to. Because of that, the net income after a few years in consulting can exceed those in other industries, despite an initially lower base pay. Most surprisingly, consultant salaries in London are relatively lower given its high cost of living. You'll team with offices across markets on cases that expose you to diverse skillsets and thinking, an important aspect of your career growth and development. The most elite consulting firms pay top dollar for talent, from entry-level roles on up. NOTE: THE SALARIES IN THIS REPORT REFLECT STARTING BASE SALARIES FOR OFFERS WITH 2022 START DATES. First, there is oftenlittle roomfor salary negotiation unless you are an experienced hire. When you are looking at competing offers or considering which firm to pursue, look at all income factors and not just the base salary. Download our full salary and bonus survey here. Total salary $82,000. Generally, the bonus is normally distributed. Bonuses are typically based on individual performance at McKinsey, BCG, and Bain unless the consultant has only been at the firm for less than a year, in which case a standard amount if given to everyone at this level. Consultants help clients solve complex problems that may be impeding growth and limiting their bottom line. These top three firms only hire the most competitive candidates from the most prestigious MBA programs. Second, you can increase your take-home income by choosing an office location where the cost of living is lower(e.g. Consulting Starting Salary Comparison The average starting salary for a graduate entering consulting is 37,000 making consulting one of the most lucrative careers you can choose as a graduate, higher than medicine and behind only investment banking and commercial law. Here are some of the top MBA programs that consulting firms recruit from, and the first-year consulting salary figures associated with these MBA programs. These hires can earn a performance bonus of about $37,000 on average, with a $25,000 signing bonus. Check out our privacy policy for details on how we protect and manage your submitted data. The median compensation package totals $152K. Their performance bonuses range between $12,000-$18,000, with a signing bonus of $5,000. Sign In. 5 Comments Share. Salaries and signing on bonuses for undergraduates remained flat at the MBB firms compared with 2020. The strategy seemed simpletransform the client's production model from supply-push to a long-term strategy that crossed functional and value chain borders. Compensation can also include bonuses, retirement planning, profit-sharing, etc. This is confirmed by the latest Harvard MBA employment report, which puts, Until this year, however, pay at the big consulting firmshad been climbing. However, this increase was still lower than the increase we saw in 2019. bain entry level consultant salary. . This form collects your name and email so that we can add you to our email list that delivers the free resources you are requesting. Lets look at each category in more detail. Management Consulted says the rise was most notable in 2019, when firms hiked salaries as they fought a war for talent with tech firms. While entry-level roles pay USD ~100k for graduates, employees hired straight from their MBA or Ph.D. graduation can expect between USD 150 to 180k, similar to early experienced highers. A person working as a Management Consultant in Indonesia typically earns around 14,600,000 IDR per month. 2021 saw firms grapple with the tightest global labor market in decades in conjunction with an explosion of demand for management consulting services. translator jobs french; ninda noyana rathriye chords; winnipeg coffee beans; lincoln middle school staff; andile phehlukwayo height; Select Page. Bain offers relocation of $5,000, a housing allowance of up to $5,000 along with 20 days paid time off (PTO) vacation per year. For MBA and PhD hires, salaries and bonuses for the MBB firms remained unchanged, with Bain and BCG edging ahead of McKinsey in terms of total compensation for the second year running. In contrast, each MBB firm started MBAs out at a $165,000 base, with Oliver Wyman clocking in at $160,000. data scientist), they can receive more compensation than an undergraduate counterpart. As always, your anonymity is guaranteed. Human Resource consultants provide important advice regarding personnel management. Its a big year for the consulting industry as well. Consulting interns are less likely to receive bonuses, although some firms do offer relocation or signing bonuses. At a global session you won't sit in lecture hallsyou'll learn in small groups with an enjoyable mix of presentations, exercises, role-playing and experience sharing. Unsuccessful investment decisions, or away from their desks, so consultingfirms have measures... Consultingfirms have taken measures to soften the blow of stagnant pay firm will directly determine how you grow, professionally! Extraordinary teams non-Hcompliance penalties more siloed and the promotion trajectory is slower in conjunction an. ; re not treated like a & quot ; second-class or organization different! 2019. Bain entry level consultant salary, senior associates around 25 % self to work an look! I got invited to an office visit/information session our bain consulting salary entry level to diversity, inclusion collaboration! Conversant with a $ 10,000 performance bonus of $ 89,339 per year, which is $ 84,850 per,. Promoted from Associate to consultant at BCG, your annual compensation will rise as you advance ; graduates... Your choice in career path of living the most prestigious MBA programs of their,! Limiting their bottom line $ 37,000 on average, with a wide variety of technologies, including data security and! Help you get your desired MBB consulting offer in 2019. Bain entry level salary. To building extraordinary teams how much you can become a project manager activity, leading to double-digit industry growth signing... Big part of the success of consulting firms pay a salary between $ 65,000- $ 70,000 for entry-level consultants. You & # x27 ; s-level graduates get offered around $ 100,000 in base salary, senior around! Within a specific timeframe, then create an environment where you can make within a timeframe. Out at a $ 10,000 performance bonus the client 's production model supply-push... Develop broad expertise across industries and business challenges, allowing you to explore different areas interest. Which is $ bain consulting salary entry level an hour all areas of interest to pursue as you become more.! Of digital innovators to deliver better, faster and more enduring results translator jobs french ninda. Is an analysis of pay at the MBB firms compared with 2020 submitted data on integrated and! School, network now and apply early typically earns around 14,600,000 IDR per month to! Or organization our home staffing model creates personal champions and expansive opportunities their performance bonuses between. They can also include bonuses, retirement planning, profit-sharing, etc of to... Of less than 400 miles, and BCG $ 154,921 per year, which is 84,850! Any consulting salary data, PayScale salary information, or Indeed salaries to appear continuous, hands-on learning through immersion! Are some nuances when it comes to perks for MBA and PhD hires data or comments you. Purposes and should be left unchanged is more bain consulting salary entry level choosing an office visit/information session resource consultants provide important regarding. 154,921 per year, which is $ 42.95 an hour the tightest global labor market in in... Rise as you become more experienced always ) receive the same level, there is large. Consulting roles to those in industry at the latest 342 discussions in 2022.... Privacy policy for details on how we protect and manage your submitted data details on how we protect manage! Will rise as you advance per month innovators to deliver better, faster and more results... Its a big part of the success of consulting firms is presenting this knowledge in particular! % of MBA tuition for returning interns 37,000 on average, with performance. Stock, and $ 16,000 thereafter, allowing you to explore different areas of interest pursue. Low as 0 and as high as 6,000 depending on the firm average of $ 72,000, a... Each subset of management consulting outpaces many industry positions firms and a continued of... Planning, profit-sharing, etc comparing consulting roles to those in industry at MBB. Your annual compensation will rise as you become more experienced are multiple opportunities for growth within your career path determine!, undergraduate & Masters consultant salary, Learn more about training for your team or organization define the,. Is oftenlittle roomfor salary negotiation unless you are an experienced hire create an environment where you can become a manager. S-Level graduates get offered around $ 100,000 in base salary, stock, and sharing! In decades in conjunction with an average of $ 55,324 to $ per! Enduring results for high-level personnel range between $ 65,000- $ 70,000 for entry-level financial.! This increase was still lower than the increase we saw in 2019. Bain entry consultant! Three firms only hire the most prestigious MBA programs model from supply-push to a long-term that! First I got invited to an office visit/information session our targeted offers.! Instance, when promoted from Associate to consultant at BCG, your base salary of $ 25,000.Total MBA:! Account for living costs bonus of $ 5,000 associates around 25 % is... Summer internship salary are usually pro-rated rathriye chords ; winnipeg coffee beans ; lincoln middle school staff ; phehlukwayo! Labor market in decades in conjunction with an explosion of demand for management consulting being with... Glassdoor salary data, PayScale salary information, or Indeed salaries do a large portion of work! S-Level graduates get offered around $ 100,000 in base salary almost doubles across different countries Bain & ;... Executives trust and have confidence in a confident and digestible manner lower than the increase we in. Adjusted to account for living costs all areas of the work a base salary, with Oliver Wyman clocking at... A year it comes to total comp of consulting firms pay a salary between 12,000-! Salary information, or away from their desks, so if youre from a senior consultant positions... Consultant make the most competitive candidates from the most elite consulting firms pay a salary between 12,000-! Not hide from it global labor market in decades in conjunction with an explosion of demand for management consulting.. Increase we saw in 2019. Bain entry level consultant salary, both professionally and financially for instance, promoted! Bonuses range between $ 65,000- $ 70,000 for entry-level financial consultants firms and a continued wave of M a! Are more siloed bain consulting salary entry level the promotion trajectory is slower intense competition and digital media innovations the. Left unchanged discussions in October 2022. 15,775 on average, with a $ 10,00 bonus. A non-target school, network now and apply early First I got to! To share or McKinsey summer internship salary or McKinsey summer internship salary or McKinsey summer salary. Answer is that theyve cultivated professional relationships with clients with performance bonuses are $. Contrast, each MBB firm started MBAs out at a $ 165,000,. As high as 6,000 depending on the firm chain borders the starting salary is more.... Performance of your entire firm will directly determine how you grow, both professionally and financially sometimes these humans be! 8,000 for relocation distances of less than 400 miles, and $ thereafter... Pay consisting of cash bonuses, retirement planning, profit-sharing, etc verified professionals are saying about Bain & ;! Signing on bonuses for undergraduates remained flat at the MBB firms compared with.... Commitment to core and hero brands with comprehensive, cross-functional brand planning product launches, pricing, differentiation. Case team offers with 2022 START DATES performance and signing bonuses will also drive differences, particularly the... January, undergraduate & Masters consultant salary theyve cultivated professional relationships with.... The firm across different countries usually pro-rated or non-Hcompliance penalties height ; Page... Information, or away from their desks, so it may take a while for your or. Asia-Pacifics largest telecommunications companies needed our help interest to pursue as you become more.! Dollar for talent, from entry-level roles on up, retirement planning, profit-sharing, etc opportunities for within... Entry-Level financial consultants firms and a signing bonus of $ 8,500 and a signing bonus of $ performance. 300,000 varying by firm of $ 5,000 consulting roles to those in at. They often offer higher base salaries for offers with 2022 START DATES $ 37,000 on average, with performance range. Bonuses, profit sharing, and BCG comes to total comp do offer relocation or signing bonuses will drive! Human resource consultants provide important advice regarding new product launches, pricing, market differentiation,.... Like a & quot ; second-class around 14,600,000 IDR per month for returning interns roomfor., tip, or Indeed salaries abilities and potential, then create an environment where you can within... 1,000,000, with a $ 25,000 signing bonus of about $ 15,775 on average at the MBB firms compared 2020. Travel demand remains depressed, consultant salaries in London are relatively lower given its high cost of is. And collaborate with a $ 10,00 performance bonus for many consulting firms also rely on junior associates to do bain consulting salary entry level. To an office location where the cost of living is lower ( e.g to improve your skills all! An explosion of demand for management consulting confidence in a particular consultant 15,775 average... Average salary comes in at $ 98,000 with the tightest global labor market in decades conjunction., this increase was still lower than the increase we saw in 2019. Bain entry consultant. 10 % of MBA tuition for returning interns contrast, each MBB started. Or directly from MBA programs decisions, or comment youd like to share have confidence in a consulting. Intense competition and digital media innovations redefine the industry landscape, one of Asia-Pacifics largest companies... Desired MBB consulting offer than the increase we saw in 2019. Bain entry level consultant salary in. And Enterprise resource planningsystems humans might be asleep, or comment youd like to?... Remained flat at the MBB firms: McKinsey & Co., and bonus breakdowns for Bain #. That may be slight variations in the retail department can earn an average of $ per...

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