BCG hires from top US business schools including MIT Sloan, Kellogg School of Management, and Columbia Business School, as well as internationally. You can find grads from the likes of INSEAD, London Business School, and Indian School of Business working at BCG's offices across the globe.
Along with the opportunity to work at the cutting-edge of business, a typical BCG consultant salary hits a lucrative six-figures.
Despite freezing freezing starting salaries in 2024, along with the other Big Three management consulting firms—Bain & Company and Boston Consulting Group—BCG remains among the leading firms in the industry when it comes to compensation.
BCG Consultant Salary & Bonus
One of the key attractions of joining the Boston Consulting Group is the BCG consultant salary prospects awaiting successful candidates. An incoming master’s hire can expect a starting base salary of $110,000 at BCG. Incoming MBA hires can expect a lucrative $190,000 per year as a starting salary. Interestingly, both salary packages are $2k lower than the equivalent for new starters at McKinsey and Bain.
That’s before the performance and signing bonuses that accompany annual salaries at the top consulting firms. Master’s graduates can expect a performance bonus of up to $22,000 and a signing bonus of $5,000. Their MBA peers joining BCG can earn a performance bonus of up to $50,000 and a signing bonus of $30,000.
According to Management Consulted, in top consulting firms you can typically expect a 10-to-20% increase in your base compensation and/or performance bonuses each year.
There is a steeper increase in compensation too when you’re promoted to the next level.
Master’s-level hires tend to come in at the BCG business analyst salary level while MBA hires come in at the BCG associate salary level.
Two-to-three years out of an MBA program, BCG manager salary prospects are around $220-to-$240,000 in base salary and $100-to-$140,000 in bonuses.
A BCG associate principal salary sits at around $275-to-$350,000, while BCG partner salary prospects start at around $375,000 and go up to $500-to-$700,000 for a senior partner with potential bonuses of over $500,000.
You’ll find similar colossal consultant salaries across all the Big Three consulting firms.
Joining BCG comes with added perks that make landing a job after graduation even more lucrative—in the past the firm has been listed among the world's best companies to work for by Glassdoor.
Master’s graduates can expect 15 days per year of paid time off—though this is the lowest among the Big Three. They also get up to $4,400 per year dropped into their 401k retirement account as part of a profit-sharing initiative for employees.
MBA hires are also given 15 days of paid time off a year at BCG. MBA hires can also expect an interest-free relocation payment, and $10,930 per year into their 401k retirement fund.
Business school grads turned BCG consultants interviewed by BusinessBecause say the firm looks for hires with broad business knowledge.
My department at BCG were looking for someone who could start immediately and I got my contract just after finishing my MBA. [To get a job at BCG] you need to possess the right amount of business knowledge and experience. It’s a prerequisite,.
How to get hired by BCG
Amber Grewal, managing director and partner of global recruiting at BCG, says she looks for consultant candidates who can show that they're driven by outcomes and the impact their work can have.
“[Show] how you think about the impact we can make for our clients, the impact we can make for the world, while being really passionate about driving impact and outcomes,” she advises.
BCG also prioritizes diversity during recruitment so that new hires are able to work in diverse teams that cut across several disciplines and functions upon entering the firm.
This focus on diversity means BCG values a broad array of competencies. While consultants need analytical and problem-solving skills, as well as strong communication abilities, there’s no one-size-fits-all approach to hiring BCG consultants.
“We look for people that will contribute to our strong culture of respect for an individual and being authentic, [these are] really core to our values of high integrity,” says Amber.
The data in this article was sourced from Management Consulted’s 2024 Consulting Salary Report. The salary figures in this article are for those joining management consulting positions in 2024. This article is updated annually.