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Consulting Salaries For MBA & Master’s Graduates

What salary can you earn at top consulting firms like Deloitte, Bain, BCG & McKinsey? Find out in our breakdown of consulting salaries for MBA and master’s graduates

Mon Jan 22 2024

From the Big Three management consulting firms—Bain, BCG, and McKinsey—to the likes of Deloitte, EY, and KPMG, consulting firms are among the largest recruiters of MBA and business master’s graduates, offering impressive six-figure salaries.

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 top company to work for worldwide, according to Glassdoor, Bain's consultant salary prospects are very promising for MBA graduates. 

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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