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Strategy Consulting: Which are the best paying firms?


The elite strategy consultancy firms tend to be secretive when it comes to salaries, relying on their reputation to attract top talent. Most graduates assume that salaries across all 3 "MBB" (McKinsey, The Boston Consulting Group and Bain & Company) firms are similar. However, our analysis shows that there are distinct differences in consultant's pay across these prestigious consultancy firms:



Round 1 - Salaries: Bain are lagging behind when it comes to salary, paying the average senior consultant only 75,000 in annual salary compared to McKinsey and BCG's 82,000 median salary.


Round 2 - Bonuses: surprising gaps open up when bonuses are added to the mix, with Bain paying out bonuses averaging 28,000 - more than three times the size of bonuses at McKinsey! Bain clearly believes in the power of performance-related bonuses as incentives for their employees. While McKinsey's stellar reputation probably allows them to pay slightly less than their peers.


And the winner is... Bain is the best paying consulting firm with a generous bonus policy which put them well ahead in the final ranking with total compensation 12,000 higher than McKinsey. BCG lands in the middle, with higher salaries than Bain, and higher bonuses than McKinsey.M.


Consultancy

Base Salary

Bonus

Total Compensation

McKinsey & Company

82,000

9,000

91,000

BCG Boston Consulting Group

82,000

15,500

97,500

Bain & Company

75,000

28,000

103,000

Pay Data from this article comes from 668 Senior Strategy Consultants working in the UK.

 

Emolument provides bonus and salary statistics based on data submitted directly by professionals like you. It is free, anonymous, and already a trusted tool for thousands of professionals worldwide. Are you paid enough? Click here to find out now.


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