However, salaries are set to stagnate in 2024 as many firms, including the Big Three, have opted to keep MBA consulting salaries at 2023 levels. That follows economic challenges due to several factors, including high inflation rates and decreasing demand for consultancy services.
Despite this, while pursuing an MBA or master’s program comes at a significant cost, if you’re considering a consulting career after business school you’ll still likely make a swift return on your investment.
McKinsey & Company and Bain & Company, which offer the highest overall compensation packages among the Big Three, each offer base salaries of around $192,000 per annum. Bain also offers performance bonuses of up to $63,000 to MBA graduates, while at McKinsey the figure is $40,000.
Here, we roundup the headline stats for consulting salaries for MBA and master’s graduates at some of the world’s biggest consulting firms, from Management Consulted’s 2024 Consulting Salary Report.
You can find out more information about the specific consulting firms by clicking through to the links below.
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The Big Three
Bain & Company
The Big Three, also known as MBB, all offer base consultant salaries of at least $190k, with Bain offering a total of $192,000. The firm also offers...
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