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REVEALED: Bain, BCG, and McKinsey management-consulting salaries, from $90,000 entry-level roles to $375,000 partner positions

Published by Business Insider on Thu, 08 Jul 2021


<p><img src="https://static1.businessinsider.com/image/5f10a816aee6a850b37aceb4" border="0"></p><p></p><bi-shortcode id="summary-shortcode" data-type="summary-shortcode" class="mceNonEditable" contenteditable="false">Summary List Placement</bi-shortcode><p>The most elite consulting firms pay top dollar for talent, from entry-level roles on up.&nbsp;</p><p>The Boston Consulting Group, Bain, and McKinsey <a href="https://www.businessinsider.com/mckinsey-hiring-policy-2013-9">often hire from top schools</a> and have acceptance rates that can be even lower than those of the schools themselves: In 2018, McKinsey hired 8,000 people out of 800,000 applications, <a href="https://www.businessinsider.com/mckinsey-hiring-policy-2013-9">the company previously told Insider</a>. The firm steadily brought in another 8,000 in 2019. <a href="https://poetsandquants.com/2020/06/29/how-mckinsey-is-changing-its-mba-hiring-and-internship-strategy/" data-analytics-module="body_link" data-analytics-post-depth="20">Over 12%</a> of the 2019 hires came from MBA programs.</p><p>But the field is losing some of its allure, <a href="https://www.businessinsider.com/burnout-consulting-firms-deloitte-pwc-big-four-2021-4">as burnout</a> and concerns about social responsibility are changing the job market. Some firms made changes to <a href="https://www.businessinsider.com/which-consulting-and-accounting-firms-bonuses-perks-covid-big-3-2021-5">working conditions and perks</a> to further entice people to apply for roles.&nbsp;</p><p>Consultancies hire hundreds of foreign workers for their US offices. When US companies file paperwork for visas on behalf of current or prospective foreign workers, they're required to say how much base compensation the workers are offered. And every year, <a href="https://www.foreignlaborcert.doleta.gov/performancedata.cfm" data-analytics-module="body_link" data-analytics-post-depth="20">the Office of Foreign Labor Certification discloses this salary data in an enormous dataset</a>.&nbsp;</p><p>Insider analyzed the agency's first-quarter 2021 disclosure data for permanent and temporary foreign workers to shed light on what BCG, Bain, and McKinsey paid consultants at different rungs on the corporate ladder, from entry-level employees to partners. The jobs were based around the country.&nbsp;</p><p>Representatives for BCG, Bain, and McKinsey did not respond to requests for comment.</p><p>According to US Department of Labor documentation, the offered wages in the disclosure data are the minimum amounts companies provided in foreign labor certification applications for specific workers. The wages are based on the average compensation that similar employees in each given job, industry, and with comparable qualifications are paid, which is known as the "prevailing wage."&nbsp;</p><p>BCG and McKinsey listed two ranges for their prevailing wages, while Bain listed one salary.&nbsp;</p><p>Insider analyzed entries from the first quarter of 2021 specifically for roles related to management consulting, though the firms also listed numerous other jobs, like data scientist and engineer. Consultants can make many thousands of dollars in signing and annual bonuses, which are not reflected in this data.</p><h2>Bain</h2><p>For the US, Bain applied for 8 H-1B visas for these and other roles with the following average salaries:</p><ul><li><strong>Senior business systems analyst:</strong> $135,658</li><li><strong>Vice President:&nbsp;</strong>$160,000</li><li><strong>Senior manager:</strong> $175,000&nbsp;</li><li><strong>Consultant:</strong> $165,000</li><li><strong>Manager:</strong> $180,000</li></ul><h2>BCG</h2><p>For the US, BCG applied for 47 H-1B visas for these and other roles with the following average salaries.&nbsp;</p><ul><li><strong>Associate:</strong> $90,000 to $120,000</li><li><strong>Account based engagement manager:&nbsp;</strong>$130,000 to $155,000</li><li><strong>Associate director</strong>: $250,000 to $280,000</li><li><strong>Consultant:</strong> $165,000 to $195,000</li><li><strong>Data scientist:</strong> $120,000 to $160,000&nbsp;</li><li><strong>Digital technology manager:</strong> $150,000 to $180,000</li><li><strong>Digital design lead:</strong> $100,000 to $120,000</li><li><strong>Senior digital designer: </strong>$102,274 to $125,000</li><li><strong>Principal:</strong> $225,000 to $260,000</li><li><strong>Principal data engineer: </strong>$200,000 to $230,000</li><li><strong>Project leader:&nbsp;</strong>$195,000 to $225,000</li><li><strong>Senior data scientist: </strong>$165,000 to $195,000</li></ul><h2>McKinsey</h2><p>McKinsey applied for 150 visas with the following salary ranges for management consultants:</p><ul><li><strong>Analyst: </strong>$108,183.33</li><li><strong>Associate:</strong> $160,000 to $220,000</li><li><strong>Associate Partner:</strong> $200,000 to $260,000</li><li><strong>Consultant - Data Science:</strong> $139,200</li><li><strong>Data Analyst:</strong> $91,266.67</li><li><strong>Data Analyst, People Analytics and Measurement:</strong> $93,200</li><li><strong>Digital Specialist:</strong> $165,000</li><li><strong>Engagement Manager:</strong> $118,919.18 to $220,000</li><li><strong>Partner:</strong> $263,333.33 to $375,000</li><li><strong>Senior Analyst:</strong> $120,487.50</li><li><strong>Senior Business Analyst:</strong> $87,072.73 to $167,500</li><li><strong>Senior Digital Analyst:</strong> $130,000</li></ul><p><strong>SEE ALSO:&nbsp;<a href="https://www.businessinsider.com/accenture-cuts-consulting-jobs-promotes-less-loweres-revenue-outlook-2020-6" >Accenture is cutting US staff, and top execs just warned of more pain to come as the consulting giant promotes fewer people and looks to control costs</a></strong></p><p><strong>SEE ALSO:&nbsp;<a href="https://www.businessinsider.com/deloitte-is-laying-off-200-people-toronto-ai-consulting-audit-2020-5" >Deloitte just laid off 200 people in Toronto, with cuts to AI, consulting, and auditingshowing the knock-on effects as clients reassess their budgets for big projects</a></strong></p><p><strong>SEE ALSO:&nbsp;<a href="https://www.businessinsider.com/booz-allen-earnings-plans-buy-businesses-hire-more-staff-2020-7" >Government-focused consulting firm Booz Allen is hiring and gearing up for M&A, even as competitors cut costs and stay out of growth mode</a></strong></p><p><a href="https://www.businessinsider.com/bain-bcg-and-mckinsey-base-salaries-how-much-consultants-make-2020-7#comments">Join the conversation about this story &#187;</a></p> <p>NOW WATCH: <a href="https://www.businessinsider.com/kosher-passover-coca-cola-bottles-yellow-cap-bottle-soda-retail-food-drink-jewish-jews-2017-4">Why some Coca-Cola bottles have a yellow cap</a></p>
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