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 Management Consulting, Discussion: the industry & interviews

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feynman
post Dec 22 2015, 10:34 PM

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QUOTE(cannyeo @ Dec 22 2015, 01:58 PM)
McKinsey - 5,000 basic for fresh grad provided entry via their summer internship
Boston and Bain - 5,000 to 6,000

Those earning between 8-10k would be senior associate consultant.
On what sense that fresh grad can be on that pay grade? I'm abit curious.
(I'm not giving baseless statements here. To protect the person, I censored most of the details)

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However, there are some exception for Doctorates or Master Grad.
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MBB is likely to pay more than that. This is based on deduction. Perhaps 8-9k for a business analyst role, for people just out of university. Of course, in Malaysia, that would probably mean 1-5 people recruited per year as opposed to the US or Europe where you will see 15+ or more per office. Also remembering that MBB are private partnerships, compensation can be as high as they want as long as the partners agree to it......this can't really happen in their competitors who are publicly listed.

A competitor who is usually not regarded as a peer to MBB has this range for entry-level compensation and this is only for strategy roles.

As to why they can be on that pay grade?....Well......they try to put a structure in situations that are ambiguous and grey. Not many people can do that given the fluidity of the situation, even senior executives in industry struggle with that. We read the news in that so many graduates struggle to even express themselves......business analysts at MBB are already coaching middle management of a firm on the way forward to a problem. So is the pay grade justified?

This post has been edited by feynman: Dec 22 2015, 10:35 PM
feynman
post Dec 22 2015, 10:53 PM

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QUOTE(Fiona Chin @ Dec 22 2015, 10:39 PM)
Is got MBA higher chance go do management consulting? My MBA not high class but still good. How many pay for 9 years already work? Hear is more good than banking cost no need work many OT.
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Unless it's an Harvard MBA or similar, it's pretty much pointless. 9 years of work doesn't mean a thing if it wasn't gained within consulting. That said, if that 9 years is spent on something specialised, say analytics, then it may mean something. If it was just some random experience in industry, it is not worth much.

If the experience is not relevant, the entry points will be the lowest level or one level above. For anything above, unless you are hired as a subject matter advisor or have more than 5-7 years of consulting experience, you won't be at the case team lead/principal/manager levels.

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