What are the average salaries for MBA graduates in consulting?

Question

Prateeksha Manral · Accepted Answer

MBA graduates in consulting earn some of the highest salaries in the industry. Compensation varies based on the firm, location, and experience level. Here&rsquo;s a breakdown of average salaries for MBA graduates in consulting at top firms.
Base Salary for MBA Graduates in ConsultingMost top consulting firms offer a base salary of $175,000 to $200,000 for MBA hires in the United States. Salaries in Europe and Asia may be slightly lower.
Performance Bonuses and Other BenefitsIn addition to the base salary, consultants earn performance-based bonuses, signing bonuses, and other benefits:

Performance Bonus: $35,000 to $60,000
Signing Bonus: $25,000 to $30,000
Relocation Stipend: Provided by some firms
Retirement and Profit Sharing: Available at select firms

Salaries at Top Consulting Firms
Here&rsquo;s what MBA graduates can expect at leading consulting firms:
1. McKinsey & CompanyBase Salary: $192,000Performance Bonus: Up to $45,000Signing Bonus: $30,000
2. Boston Consulting Group (BCG)Base Salary: $190,000Performance Bonus: Up to $50,000Signing Bonus: $30,000
3. Bain & CompanyBase Salary: $192,000Performance Bonus: Up to $50,000Signing Bonus: $30,000
4. Deloitte ConsultingBase Salary: $175,000Performance Bonus: Up to $40,000Signing Bonus: $30,000
5. PwC Strategy&Base Salary: $175,000Performance Bonus: Up to $45,000Signing Bonus: $30,000
6. EY-ParthenonBase Salary: $175,000Performance Bonus: Up to $45,000Signing Bonus: $25,000
7. KPMG AdvisoryBase Salary: $170,000Perormance Bonus: Up to $40,000Signing Bonus: $25,000
8. Accenture StrategyBase Salary: $175,000Performance Bonus: Up to $40,000Signing Bonus: $25,000
9. Oliver WymanBase Salary: $190,000Performance Bonus: Up to $50,000Signing Bonus: $30,000
10. Roland BergerBase Salary: $160,000 to $175,000Performance Bonus: Varies by regionSigning Bonus: Around $25,000
Total Compensation for MBA Graduates in ConsultingAdding base salary, bonuses, and other incentives, the total first-year earnings for MBA graduates at top consulting firms can range from $200,000 to $250,000.
 If you&rsquo;re considering a career in consulting, strong problem-solving skills and case interview preparation will help you land a role with a top firm.

Vishal Keshav M · Answer

MBA graduates entering consulting can expect total first-year compensation of $200,000 - $270,000+, which includes base salary and performance bonuses. Here&rsquo;s a breakdown of base salaries at top firms:
MBB (McKinsey, BCG, Bain) &ndash; Top Strategy Consulting Firms

McKinsey & Co.: $192,000 + bonuses (~$80,000)
Boston Consulting Group (BCG): $195,000 + bonuses (~$80,000)
Bain & Co.: $192,000 + bonuses (~$80,000)

Big 4 Consulting & Tier 2 Strategy Firms

Deloitte Strategy & Operations: $165,000 + bonuses (~$40,000)
PwC Strategy&: $165,000 + bonuses (~$40,000)
EY-Parthenon: $170,000 + bonuses (~$45,000)
KPMG Strategy: $160,000 + bonuses (~$40,000)
Oliver Wyman: $175,000 + bonuses (~$50,000)
Roland Berger: $160,000 + bonuses (~$40,000)

Salary Growth Post-MBA
Senior Consultant (2-3 years post-MBA): $250,000 - $300,000+Manager/Project Leader: $300,000 - $500,000+Partner/Director (10+ years post-MBA): $1M+
Want to maximize your MBA&rsquo;s ROI and land a top consulting job? Get a free strategy session with expert guidance!

Hema A · Answer

So if you're looking at consulting after an MBA, the salary can be pretty good! On average, MBA grads in consulting can earn anywhere between $120,000 to $160,000 a year in the U.S. at top firms like McKinsey,Deloitte,PwC,BCG, or Bain. These firms usually offer base salaries around $150,000 to $170,000, and then there are bonuses and profit-sharing that can bring the total closer to $200,000 or more.

If you&rsquo;re looking at consulting in Europe or other regions, it&rsquo;s a bit lower but still great. In places like London, you're looking at around &pound;80,000 to &pound;100,000 base salary, with bonuses that can push it higher.
The salary can depend on a few things like the firm, location, and your experience level. But overall, consulting after an MBA can be very rewarding financially!