McKinsey salary for PhD new grad in Bay
Anybody knows how much McKinsey pays to new hire consultant with PhD in Bay area? Also what is the entry point with PHD or MBA? #consulting
Why would you do phd just to wear a suit and make shitty powerpoints
You realize rather late that you care more about TC than knowledge for its sake.
1. The PhD gives you credibility when working with Pharma clients 2. The career track kicked off by joining a management consulting firm is much better than the one kicked off by getting on the post doc treadmill imho
All consultants (MBA, JD, MD, PhD, experienced) come in around the same rate: Base: $165k Sign on bonus: $30k Annual bonus: $35k If you're coming in as something different like a data scientist, software engineer, expert of some sort, etc, it might be different, but that's where associates usually land. *The location doesn't matter. The consultants in Detroit/Cleveland get paid the same as the ones in SF/NYC
What’s the travel and wlb like for SWEs
Travel is non-existent according to my friend who joined a month ago, due to covid reasons. But otherwise you would spend a lot of time traveling, meeting clients etc. WLB sux if you don’t enjoy that lifestyle. If you do, then perfect fit for you.
Is it a generalist consultant position? If yes, pay depends on the level you are hired - fresh grad PhDs usually are hired as Jr. Associates and all JAs hired get paid exactly the same regardless of PhD or Industry hire. I think base is ~100-110k and TC of around 140-150k (Including 401k contribution) New MBAs are hired as Associates with base pay ~170k
That is not true, For generalist: Fresh PhD and MBA are hired at the same level at MBB in USA. ~150k base
Maybe the US hires PhDs as Associates directly - I could be wrong there. But in 2019, associates were given a base of $165k with a signing bonus of $30k https://poetsandquantsforundergrads.com/2020/01/21/consulting-pay-what-undergrads-and-mbas-earned-in-2019/