And with increasing demand for management consultants, elite firms are doling out hefty compensation packages to stay competitive and attract top talent. In fact, at many places, the base pay for MBAs starts at $140,000 — more than $60,000 higher than the starting salaries that many candidates earn right out of college. On top of that, salaries for these positions are on the rise, up as much as 5% in the past year.
Management Consulted, a company that helps candidates land consulting jobs, compiled the top salaries earned by graduates in their first year out of business school at 18 leading consulting firms. To determine these figures, it culled through data from clients, spoke with industry insiders, and pored over real offer letters from readers.
It's important to note that these represent maximum salary packages, not average compensation. Typically, only the top employees receive the full amount, with most employees earning significantly less.
Read on to see the consulting firms in which MBAs are raking in the big bucks, ranked by total compensation:
18. Mercer
Total compensation: up to $137,000
Signing bonus: $20,000
Base: $95,000
Relocation: up to $3,000
Performance bonus: up to $19,000
17. Kalypso
Total compensation: up to $157,000
Signing bonus: $15,000
Base: $124,000
Relocation: up to $3,000
Performance bonus: up to $15,000
16. Cognizant Business Consulting
Total compensation: up to $163,000
Signing bonus: $20,000
Base: $120,000
Relocation: up to $8,000
Performance bonus: up to $15,000
15. Infosys
Total compensation: up to $170,500
Signing bonus: $20,000
Base: $122,500
Relocation: up to $3,000
Performance bonus: up to $25,000
14. IBM Global Business Services
Total compensation: up to $172,500
Signing bonus: $25,000
Base: $130,000
Relocation: up to $4,500
Performance bonus: up to $13,000
13. IMS Consulting Group
Total compensation: up to $177,000
Signing bonus: $25,000
Base: $128,000
Relocation: up to $8,000
Performance bonus: up to $16,000
12. PwC
Total compensation: up to $194,000
Signing bonus: $25,000
Base: $135,000 to $140,000
Relocation: up to $2,000
Performance bonus: up to $27,000
11. L.E.K.
Total compensation: up to $197,500
Signing bonus: $25,000
Base: $142,500
Relocation: up to $5,000
Performance bonus: up to $25,000
10. Strategy&
Total compensation: up to $204,900
Signing bonus: $25,000
Base: $152,000
Relocation: up to $3,000
Performance bonus: up to $24,900
9. KPMG
Total compensation: up to $205,000
Signing bonus: $35,000
Base: $140,000
Relocation: up to $5,000
Performance bonus: up to $25,000
8. EY
Total compensation: up to $206,700
Signing bonus: $25,000
Base: $145,000
Relocation: up to $5,000
Performance bonus: up to $31,700
7. Bain & Company
Total compensation: up to $215,000
Signing bonus: $25,000
Base: $148,000
Relocation: up to $5,000
Performance bonus: up to $37,000
6. Parthenon-EY
Total compensation: up to $216,000
Signing bonus: $35,000
Base: $170,000
Relocation: up to $2,000
Performance bonus: up to $9,000
5. Deloitte
Total compensation: up to $221,250
Signing bonus: $25,000
Base: $149,000
Relocation: up to $2,500 if local; $10,000 otherwise
Performance bonus: up to $37,250
4. McKinsey & Company
Total compensation: up to $221,500
Signing bonus: $25,000
Base: $152,500
Relocation: $2,000 to $9,000
Performance bonus: up to $35,000
3. Accenture Strategy
Total compensation: up to $224,900
Signing bonus: $25,000
Base: $147,500
Relocation: up to $8,000
Performance bonus: up to $44,400
2. A.T. Kearney
Total compensation: up to $226,100
Signing bonus: $25,000
Base: $147,000
Relocation: up to $10,000
Performance bonus: up to $44,100
1. Boston Consulting Group
Total compensation: up to $229,100
Signing bonus: $30,000
Base: $147,000
Relocation: $2,000 to $8,000
Performance bonus: up to $44,100
