Based on offers made to our candidates in the Fall 2011 full-time recruiting, we present the ranges of packages offered. The sample size, 48, is large enough to offer a good approximation of all offers extended. Listeners are cautioned not to extend these numbers outside the USA, where salaries differ significantly. As expected, Accenture and Deloitte dramatically out-offered Bain, BCG and McKinsey.

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8 responses to Comparing 2011 MBA Salaries

  1. You are welcome Sam.


  2. Thanks Michael. That’s a fascinating insider’s perspective.


  3. Hi Sam,

    BCG however has more levels than McKinsey above principal. They have director, managing director, partner and senior partner. Practice responsibilities, legal structures and level of partnership determine this combination. Highest level is Senior Partner & Managing Director.

    A principal at both firms is a non-equity partner. A partner at McKinsey is a director. Bain’s titles are different, but more similar to McKinsey with less levels at the top.

    In my case, I left as a director which is an equity partner, but I spent most of my senior career as a principal. Though, even as a principal I sat on the operating committee and management committee. It was a way to fast track me and offer me exposure to the management of the firm. Yet, as a principal I did not have voting power. That only came as a director.


  4. Michael, thanks for clarifying. Does that mean that what McKinsey calls a Partner (next level above Associate Principal) is equivalent to what BCG calls a Principal (one level below what BCG calls Partner and Managing Director)? I’m also trying to figure out how the different titles at the different firms equate.


  5. SK,

    Principal is non-equity partner and these are US salaries. They are not emerging markets salaries. Associate principal is not a principal.

    Second, partner salaries are driven by the profit of the firm in that year and the partners’ percentage allocation of the firm’s profits.

    Principals do not share in profits.


  6. Hi Michael,

    I wonder if you can clarify my understanding of the salaries you quoted in the podcast for senior level consultants. In many of your podcasts and videos you seem to use the terms Principal and Partner interchangeably. In this podcast, you mention that Principals start off at $350k-$400k, with $500k being less common. My questions are as follows:
    1. When you say Principal in this context, do you mean what McKinsey refers to as Associate Principal and what BCG refers to as Principal, or do you mean Partner (but not BCG Senior Partner or McKinsey Managing Director)?
    2. You mentioned that Principals earn the figures quoted above as base salaries, and bonuses are $100k-$200k. Do the people at this level also earn profit share?

    Thanks for a useful and insightful podcast!

  7. You are welcome Dmitry. The numbers are slightly dated though so maybe add in about 2% per year for inflation.


  8. Very, very, very useful!

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