Has management consulting lost its shine?
I am an Ex McK BA, joined them out of B school 10 yrs ago. Met a few MBB folks recently and leart about their comp range which is significantly lower than tech ladder comp for most big techs. MBB use to pay top of market back in the days so i was surprised that an L5 PM for example makes as much as a Principle lebel management consultant at McKinsey, BCG or Bain. Are consulting companies not competitive enough now?
When did it ever have shine? ๐
2010-2016. Everyone in my engg school (top in country) wanted to join management consulting.
No one at my eng school (2007, also top in US) wanted to go there. Only business school bros. That being said tech pay was also peanuts back then ($60-$80k)
When I went to college and graduated in 2007, I wanted to get into consulting bc it paid well. I remember reading US News with rankings for MBA programs and wanted to get into Stanford as average salary for graduates were like $120K/year or something. How things have changed so quickly. I didnโt go to Stanford nor did I get MBA. Just lucked into Tech and have been here for about 10 years. Weโll see how long this lasts.
TC?
$650k
Yoe/ level? Are you swe?
Consulting was never a good career outside of making it to partner level, so top 5%. But if you are good enough to be in top 5%, tech will pay you way more.
I've never seen a consulting company be helpful other than to make more work for themselves. So I mean how much are they really worth?