UPDATE: 2018 SALARIES ARE NOW AVAILABLE.

TO VIEW THE NEW, UPDATED FIGURES, CLICK HERE for 2018 salaries

Welcome to our Consulting Salary post – the kickoff to 2015!

As you’ve been busy popping bottles of champagne, watching the ball drop while fireworks shoot up in the background, or just flat-out ambitiously working through the New Year holiday, we here at Management Consulted have had our version of fun.

We’ve published new consulting videos, planned speaking tours to aid students and experienced hires for consulting recruiting, and created several surprises just for our MC subscribers. As done in previous years, we’ve also assembled salary information for those starting at consulting firms this year.

This year appears to be a promising year for the consulting industry in general as demand for consulting services around the world steadily increases. Revenues for the great majority of top consulting firms and for the consulting divisions within the Big 4 accounting firms has risen throughout the past year, and competition for talent beyond consulting is rising. With that, the compensation packages and demand for top-notch talent are on the rise as well.

Some consulting news quickly worth repeating is that PwC finalized their acquisition of Booz & Company in April 2014, renaming Booz & Company to Strategy& in the process. So far, Strategy& hasn’t integrated with the consulting division of PwC and operates as separate entity. EY also made a bold by acquiring Parthenon and, similar the aforementioned acquisition, Parthenon and EY operate separately.

Number hungry? Want to see the data for full-time consulting positions with offers starting in 2015? You’re in the right place! Over the past 6 months, we’ve accumulated compensation data from sources inside the following firms:

Accenture

A.T. Kearney

Bain & Company

The Boston Consulting Group (BCG)

Deloitte

Ernst & Young

IBM Global Business Services (IBM GBS)

IMS Consulting Group

Infosys

Kalypso

KPMG

L.E.K.

McKinsey & Company

Mercer

Oliver Wyman

PwC

Strategy&

ZS Associates

Our data is focused specifically on management consulting roles at the aforementioned firms which means the numbers for starting consulting roles are generally more accurate than those on Glassdoor, etc. (which often includes similar position titles but different functions in the same group).

If our figures don’t line up with your personal experience however, we’d love to hear from you. Add your comments at the end of the post with as much detail as you can share, or contact us directly. Your name will always be confidential.

The salary information is mostly for offices in the United States. We recognize, however, that a huge contingent of our subscribers are located around the globe – in India, Singapore, South Africa, Europe, and Asia Pacific. So if you’re you working at a major consulting firm in another part of the globe, we’d love to hear from you too! Again, all of our data is posted anonymously so feel free to share by posting a comment below or emailing us.

With that said, let’s get to the numbers you’ve patiently waited for:

= = = = = 1st Year Out of Undergraduate Program = = = = =

Accenture Undergraduate Salary

Signing Bonus: $3,000-10,000 (Canada: $10,000)

Base: $74,000 (Canada: $68,000)

Relocation: $2,000

Performance Bonus: up to $7,400 (10% of base)

– – – – –

Total Compensation: up to $93,400

Retirement: Match 6% for 401k

Tuition reimbursement: Available for MBA interns who go back full time, up to $50,000 per year.

A.T. Kearney Undergraduate Salary

Signing Bonus: $5,000 (Toronto: $5,000)

Base: $65,000 (Toronto: $70,000)

Relocation: $5-$10,000 (Toronto: $3-$10,000)

Performance Bonus: up to $9,750 (15% of base) (Toronto: up to 20% of base salary)

Profit Sharing: $6,500, up to 10% of base depending on firm performance

– – – – –

Total Compensation: up to $96,250

Retirement: Match 6% for 401k

Bain & Company Undergraduate Salary

Signing Bonus: $5-7,000

Base: $70-75,000

Relocation: $2-$8,000

Performance Bonus: up to $14,000

– – – – –

Total Compensation: up to $104,000

Retirement: 401k contribution of 4.5% of base + bonus, no contribution required.

Boston Consulting Group (BCG) Undergraduate Salary

Signing Bonus: $5,000 (Canada: $8,000) (Aus: $15,000)

Base: $72,000 (Canada: $75,000) (Aus: $64,900) (Germany: €65,000)

Relocation: $2-$8,000 (Germany: €3-€10,000)

Performance Bonus: up to $16,200 (22.5% of base salary)

Profit Sharing: up to $4,400

– – – – –

Total Compensation: up to $105,600

Retirement: 15% of your base + bonus into your 401k, with employee contribution required.

Deloitte Undergraduate Salary

Signing Bonus: $10,000 (Canada: $5,000) (NZ: $2,000)

Base: $72,500 (Canada: $60,000) (NZ: $44,000) (UK: £34,500) (Germany: €45,000)

Relocation: $2,000-$5,000

Performance Bonus: up to $10,875 (15% of base) (UK: up to 5% for 1st year analysts)

– – – – –

Total Compensation: up to $98,375

Retirement: Match 6% for 401k

Ernst & Young Undergraduate Salary

Signing Bonus: $3-5,000

Base: $70,000

Relocation: $1,000 (2,000 miles +)

Performance Bonus: up to $2,000

– – – – –

Total Compensation: up to $78,000

Retirement: 2.5% total compensation contributed to 401k

IBM Global Business Services Undergraduate Salary

Signing Bonus: $7,000 (Canada: $5,000)

Base: $75,000 (Canada: $60,000)

Relocation: $3,000

Performance Bonus: up to $9,000 (12% of base)

– – – – –

Total Compensation: up to $94,000

Retirement: Match 5% for 401k

KPMG Undergraduate Salary

Signing Bonus: rare

Base: $60,000

Relocation: $2,000

Performance Bonus: up to $8,000

– – – – –

Total Compensation: up to $70,000

L.E.K. Undergraduate Salary

Signing Bonus: $7,500

Base: $73,000

Relocation: $2,500

Performance Bonus: Worldwide bonus up to $14,600 (20% of base)

– – – – –

Total Compensation: Up to $97,600

McKinsey & Company Undergraduate Salary

Signing Bonus: $5,000 (Canada: $6,000)

Base: $70,000 (Canada: 70,000) (Germany: €65,000)

Relocation: up to $3,000 (Germany: €3-€10,000)

Performance Bonus: $15,000-$18,000 (Now offered consistently across most U.S. offices)

– – – – –

Total Compensation: up to $96,000

Retirement: 7% of total annual compensation (Canada: $10,000 to RRSP)

Mercer Undergraduate Salary

Signing Bonus: $3,000

Base: $60,000 (based on 40 hour/week)

Relocation: $2,000

Performance Bonus: No bonus, instead paid time and a half for all hours over 40

– – – – –

Total Compensation: $65,000 + overtime

Oliver Wyman Undergraduate Salary

Signing Bonus: $10,000 (Canada: $10,000)

Base: $75,000 (Canada: $75,000)

Performance Bonus: up to $15,000 (20% of base salary) for 1st year, 40% of base salary for 2nd year (guaranteed)

– – – – –

Total Compensation: up to $100,000

Parthenon Undergraduate Salary

Signing Bonus: $10,000

Base: $90,000

Performance Bonus: up to $10,000

– – – – –

Total Compensation: up to $110,000

PwC Undergraduate Salary

Signing Bonus: $3-5,000

Base: $65,000 (Canada: $55,000)

Relocation: included in signing bonus

Performance Bonus: up to $9,750 (10-15%) (Canada: 5-15% discretionary)

– – – – –

Total Compensation: up to $79,750

Strategy& Undergraduate Salary

Signing Bonus: $5,000

Base: $72,000

Relocation: $5-15,000

Performance Bonus: up to $14,400 (20% of base)

– – – – –

Total Compensation: up to $106,400

Retirement: $7,200/10% of base + up to $820/5.7% of bonus

ZS Associates Undergraduate Salary

Signing Bonus: $5,500 (Canada: $5,000)

Base: $60,000 (Canada: $75,000)

Relocation: $4,000 (Canada: $2,500)

Performance Bonus: up to $6,000 (Canada: 1st year capped at 10% then removed)

– – – – –

Total Compensation: up to $75,500

Retirement: Match 3% for 401k

Here are a few more pre-MBA consulting salaries in EMEA:

For BCG in Amsterdam: €45,000 base, up to 15% bonus, €3,000 moving allowance

For Bain in Amsterdam: €42,000 base, up to 25% bonus, €4,000 moving allowance

For Booz in Amsterdam: €48,000 base, up to 15% bonus

For M/B/B in Spain: €30-35,000

For Deloitte and PwC in Spain: €20-25,000

For McKinsey Research Analyst in Poland: €22,000 base

For McKinsey Consultant in Poland: €50,000 base

For Deloitte Consultant in Poland: €43-45,000 base

For Deloitte/PwC Manager in Poland: €67,000 base

= = = = = 1st Year Out of MBA/Grad Program = = = = =

Accenture MBA Salary

Signing Bonus: $35,000 (Canada: $15,000)

Base: $135,000 (Canada: $140,000)

Relocation: $8,000

Performance Bonus: up to $43,500 ($30K of which is MBA bonus and is only available in for your 1st year)

– – – – –

Total Compensation: up to $221,500

Retirement: 6% Employee Match

Tuition Reimbursement: up to $80,000 ($50,000 after taxes)

Vacation: 5 Weeks

A.T. Kearney MBA Salary

Signing Bonus: $20,000

Base: $140,000 (Germany: €80,000)

Relocation: $5,000 (Germany: €3-€5,000)

Performance Bonus: up to $33,500 (Germany: up to €16,000)

– – – – –

Total Compensation: up to $198,500 (Germany: up to €101,000)

Retirement: 401k contribution up to $8,000

Bain & Company MBA Salary

Signing Bonus: $25,000

Base: $135,000

Performance Bonus: up to $35,000

– – – – –

Total Compensation: up to $195,000

Retirement: 401k contribution up to $8,000

Boston Consulting Group (BCG) MBA Salary

Signing Bonus: $25,000

Base: $147,000

Relocation: $2-5,000 depending on distance

Performance Bonus: up to $42,000

– – – – –

Total Compensation: up to $219,000

Retirement: up to $9,000/5% of bonus + salary is put into retirement fund, no contributions required

Down the Road: Project leaders at BCG (~2-3 years out of B-school) were paid $165,000 base.

Deloitte MBA Salary

Signing Bonus: $35,000 ($25,000 if returning after internship) (Canada MBA: $5,000)

Base: $140,000 (Canada MBA: $95-100,000)

Relocation: up to $2,000

Performance Bonus: up to $35,000 (25% of base)

– – – – –

Total Compensation: up to $212,000

Retirement: .25 match of first 6% contributed for a total of 1.5%

Tuition Reimbursement: up to $50,000 + 2nd year tuition for returning interns

Ernst & Young MBA Salary

Signing Bonus: $25,000

Base: $140,000

Relocation: $5,000

Performance Bonus: up to $30,000

– – – – –

Total Compensation: up to $200,000

IMS Consulting Group MBA Salary

Signing Bonus: $25,000

Base: $125,000

Performance Bonus: up to $15,000

– – – – –

Total Compensation: up to $165,000

Infosys MBA Salary

Signing Bonus: $20,000

Base: $117,000

Relocation: $3,000 non-discretionary relocation (reimbursement for movers/storage)

Performance Bonus: up to $25,000

– – – – –

Total Compensation: up to $165,000

Retirement: DNK

Kalypso MBA Salary

Signing Bonus: $15,000

Base: $115,000

Performance Bonus: up to $15,000

– – – – –

Total Compensation: up to $145,000

KPMG MBA Salary

Signing Bonus: $15,000

Base: $130,000

Relocation: $2,000

Performance Bonus: up to $22,750

– – – – –

Total Compensation: up to $169,750

L.E.K. MBA Salary

Signing Bonus: $25,000

Base: $140,000

Relocation: $5,000

Performance Bonus: up to $25,000

– – – – –

Total Compensation: up to $195,000

Retirement & Profit Sharing: up to $30,000

McKinsey & Company MBA Salary

Signing Bonus: $25,000

Base: $140,000

Relocation: $2-9,000 depending on distance

Performance Bonus: up to $35,000

– – – – –

Total Compensation: up to $209,000

Retirement: up to $20,400/12% of bonus + salary is put into retirement fund, no contributions required

Overall BCG and McKinsey post-grad/MBA salaries are almost identical — although McKinsey has a lower base, they also have a higher retirement contribution.

Mercer MBA Salary

Signing Bonus: $20,000

Base: $87,000

Performance Bonus: up to $17,000 (20% of base)

– – – – –

Total Compensation: up to $124,000

Retirement: DNK

The Parthenon Group MBA Salary

Signing Bous: $35,000

Base: $170,000

Relocation: $2,000

Performance Bonus: up to $9,000

– – – – –

Total Compensation: up to $216,000

PwC MBA Salary

Signing Bonus: $25,000 (+$10,000 if you interned)

Base: $140,000

Relocation: $2,000

Performance Bonus: up to $27,000

– – – – –

Total Compensation: up to $194,000

Retirement: DNK

Strategy& MBA Salary

Signing Bous: $25,000

Base: $135,000

Relocation: $3,000

Performance Bonus: up to $33,750

– – – – –

Total Compensation: up to $196,500

Retirement: 10% of salary

= = = = = Summer Internships = = = = =

Summer internships range from a short 10-week period (par for the course in the U.S.) to a longer 16-week period (more popular in Canada and EMEA). In general, the monthly pay is prorated based on the starting base salary for a new hire. The below are total salary figures for the internship, and are for undergrads unless otherwise noted:

Undergraduate Internships

A.T.Kearney: $11,000

Bain: $12,500 (10 weeks)

BCG: $13,500 (10 weeks)

Deloitte: $31/hour ($47.50/hour for overtime), ~ 50 hours a week

IMS: $11,000 + bonus

L.E.K.: $11,000

McKinsey: $12,500

Oliver Wyman: $11,250 + $2500 signing (9 weeks)

PwC: $33.50/hour, $50.25 for overtime (8 weeks plus 1 week trip to Disney World)

ZS Associates: $11,000

MBA Internships

AT Kearney MBA: $11,000/month

Bain MBA: $26,000 (10 weeks)

BCG MBA: $27,000

Deloitte MBA: $28,450 + 2nd year MBA tuition reimbursement (up to $50,000)

IMS MBA: $11,000/month + $5,000 signing bonus

L.E.K. MBA: $2600/week + up to $4,000 performance bonus

McKinsey MBA: $28-29,500 (10 weeks)

Parthenon Group MBA: $27,000 + $5,000 signing bonus (for 10 weeks)

PwC MBA: $60/hour

Strategy& (formally Booz & Co.) MBA: $11,250/month

ZS MBA: $11,000/month + $5,000 signing bonus

Conclusion

Altogether, things are looking promising this year for those starting in consulting. In comparison to 2014, salaries appear to be on the rise – although probably not as fast as you prospective consultants would hope. Consulting is being crowded by top offers in tech – Facebook, Google and other top Silicon Valley firm compensation packages eclipse the value we’ve shared above. Still, the consulting value proposition – rotational insight and CEO influence – balance out the bigger dollars in tech and finance.

If you are considering working in a consulting firm this year and have questions about the interview process, resumes, networking, or anything else related to consulting, we’re here to help. Don’t hesitate to email us or book a Power Half Hour with one of our ex-MBB staff.

Have a great 2015 and best of luck!

P.S. We’d like to share compensation data for as many firms, regions, and levels of seniority as possible. If you’re a new hire for 2015, you can help us do that. Add your comment below or send us an email. Anonymity guaranteed.