Consulting Salary: What McKinsey, BCG and Bain Pay New Hires

How much do McKinsey, BCG and Bain pay new hires?

Reported 2025 data puts US base pay at McKinsey, BCG and Bain at about $110,000-112,000 for undergraduate hires and $190,000-192,000 for post-MBA hires. MBA hires also report a $30,000 signing bonus and performance bonuses of up to $40,000-63,000. These are reported figures from industry surveys; none of the three firms publishes a salary scale.

The numbers below come from Management Consulted's Consulting Salaries Report 2026, as summarized by Poets & Quants in January 2026. The report draws on 2025 responses from consultants, students and some firms.

Reported 2025 US starting pay at MBB

The BCG undergraduate base is derived from the report's statement that Bain and McKinsey sit $2,000 above it. The undergraduate figures cover bachelor's and master's hires together, so a master's graduate in some offices may start slightly higher.

A European example: the UK

European offices pay less in absolute terms, and figures vary more between cities. PrepLounge's 2026 UK salary guide reports these MBB base salaries:

Treat these as directional. The same guide gives other ranges in different sections, and it does not state the year of the underlying data. When you hold an offer, the offer letter is the only number that counts.

European consulting salaries, including the Netherlands

Reported 2026 entry-level base pay at top strategy firms ranges from about €40,000-55,000 in Spain and Italy to CHF 100,000 or more in Switzerland. Amsterdam sits in the middle: McKinsey business analysts there report about €55,000-70,000 base, close to Paris and the Nordics and below Munich and Frankfurt. No firm publishes European pay scales, so every salary below is reported; the only official figure is the Dutch legal floor for non-EU hires.

Three cautions apply. The sources mix base salary and total compensation, so compare rows with the same pay basis only. The 2026 UK entry range sits above PrepLounge's undated £49,500-52,000, which shows how much reported figures vary. Cells without a reliable source are left out on purpose: no source gives a firm-level post-MBA figure for the Nordics, Spain or Italy. For Dutch visas, the 30% ruling and language requirements, see the guide to consulting jobs in the Netherlands.

Strategy consultants earn more than most other consultants

Strategy firms pay a premium at entry level. In 2011 I wrote about a UK salary survey that showed strategy consultants starting about 10% above peers in other consulting functions, and the pattern has held. The 2025 data shows Deloitte, PwC Strategy& and EY-Parthenon at about $100,000 base for undergraduate hires, roughly 10% below MBB, with wider gaps once bonuses are included.

The premium buys something specific: the most selective recruiting, faster promotion tracks and an exit network that pays off for decades. It also comes with the hours, which is why I have always seen the pay as compensation for workload as much as for talent. The guide to associate consultant hours shows what that workload looks like.

The five components of a consulting package

A consulting offer has more moving parts than a single salary number. Compare offers on all five.

1. Base salary. Standardized by office and entry level, and the largest component. Reviewed annually.
2. Signing bonus. A one-time payment on acceptance or start; $30,000 is the reported MBB figure for US MBA hires. Some firms claw it back if you leave within a set period, so read the terms.
3. Performance bonus. Paid annually, linked to individual ratings and sometimes firm results. The reported ranges above are maximums; a typical first-year bonus lands below the cap.
4. Relocation. A lump sum or reimbursed moving costs when you join an office outside your home city. Useful for candidates moving countries.
5. MBA sponsorship. After two to three years, strong performers can have business school paid by the firm. Management Consulted describes MBB sponsorship as full tuition plus a living stipend of $10,000-20,000, in return for at least two years back at the firm. The guide on whether you need a consulting MBA covers the trade-off.

Retirement contributions, health insurance and profit sharing (L.E.K., for example, reports profit sharing for undergraduates) add further value that rarely shows up in headline numbers.

How to compare two consulting offers

A worked example makes the comparison concrete. Suppose an undergraduate holds two US offers:

• Offer A (MBB): $112,000 base, up to $18,000 bonus, no relocation needed.
• Offer B (Big 4 strategy arm): $100,000 base, $10,000 signing bonus, up to $12,000 bonus.

First-year maximum cash: A is $130,000; B is $122,000. The gap looks modest. The larger difference shows up in year three, when MBB analysts compete for sponsored MBAs and promotion to associate, which in the US means a base near $190,000. Price that path, and the brand that comes with it, before you weigh the first-year number.

What you can negotiate in a consulting offer

At MBB, base salary is set per entry class and office and is reported as not individually negotiable. Movement happens on the signing bonus, the start date and relocation, and usually only when you hold a competing written offer. Tier-2 firms and Big Four strategy arms report more room on base. All figures in this section are reported by prep providers for 2026, mostly from US offers.

A four-step procedure keeps the conversation professional:

1. Thank the recruiter, confirm your interest and ask for the full package in writing.
2. List the items that matter to you, at most two, and the reason for each (a competing written offer, a move abroad, an exam date).
3. Ask once, by phone or video, and follow up in writing with the numbers agreed.
4. Decide within the deadline; if you need an extension for another final round, ask early and say when you will decide.

Points to settle for a Dutch offer. Three items are specific to the Netherlands and easy to miss:

1. The 30% ruling. The employer and employee must apply jointly, and an application filed within four months of the start date applies retroactively (RSM, 2025). Ask the firm in writing whether it will apply with you.
2. Timing of the 2027 change. From 1 January 2027 the maximum tax-free allowance falls from 30% to 27%, and the minimum salary rises to €50,436, or €38,388 for under-30s with a qualifying master's degree (RSM). Model your net pay at 27% if you start in 2027, and check transitional rules for earlier entrants with a tax adviser.
3. IND thresholds for non-EU hires. The offer must clear the IND salary threshold that applies to you: the table above shows the official 2026 amount for under-30s, and the Netherlands guide lists the others. The IND sets new amounts every 1 January, so check the figure for the year you start.

Stephan's note: When I coached candidates choosing between offers, the ones who were happiest five years later rarely chose on the first-year salary. They chose the firm where they would learn fastest and the people they wanted to work with.

Getting to the offer

Pay only matters once you have the offer, and the offer depends on your case performance and online assessment. The prep pack bundles all three of my books at roughly 40% off: the full interview guide plus two practice tests that train the exhibit reading and mental math every screening test rewards. Start with the consulting resume if you have not applied yet, then work through the case interview guide.