The opportunity to work with the world’s leading management consulting firms – including McKinsey, Boston Consulting Group and Bain & Co. – is the driving motivation behind many students’ decision to embark on an MBA.
Management firms have actively scoured the top MBA programs for talent for decades and paid handsomely to lock in good people. Securing an entry-level job at one of these firms will expose MBA graduates to some of the most interesting and exciting work in the corporate world.
The 2018 MBA News MBA Motivations & Aspirations Survey found more than 1-in-4 MBA graduates would like to work in management consulting once they have graduated.
US firm Management Consulted, which helps clients secure jobs in the management consulting field, has just released a report on what these firms are paying for incoming MBA and PhD graduates.
The research shows that despite increasing competition from Big Tech, salaries for incoming MBA and PhD hires continues to skyrocket.
“Outside of finance, post-MBA compensation packages are the highest in consulting out of any industry,” the report said.
“While Big Tech continues to compete with consulting for top talent, consulting continues to offer faster promotion cycles, broader industry exposure, and a better path to business leadership.”
The report shows MBA and PhD graduates are paid about $US165,000 as a base salary with various bonuses sometimes taking the full remuneration to more than $US200,000.
At Boston Consulting Group in Australia the base salary was $160,000 with performance bonuses of more than $60,000. Including superannuation ($16,000) and signing bonuses BCG consultants can make more than $275,000 in the first year.
Foe the full list visit Management Consulted website.