The most elite consulting firms pay top dollar for talents, from entry level roles and up.
Boston Consulting Group, Bain and McKinsey often hire from top schools and have acceptance rates that may be even lower than those of the schools themselves: In 2018, McKinsey hired 8,000 out of 800,000 applications, according to the company at past. The company consistently brought in another 8,000 in 2019. More than 12% of 2019 recruitments came from MBA programs.
But the field is losing some of its charm as social responsibility concerns change the job market. Some companies have made changes to working conditions and privileges to further entice people to apply for roles.
Consultants hire hundreds of foreign workers for their US offices. When US companies apply for a visa on behalf of current or future foreign workers, they are required to state how much basic compensation the workers are being offered. And every year, the External Employment Certification Office reveals these payroll data in a huge data set.
Insider analyzed the agency’s first quarter of 2021 revelations for permanent and temporary foreign workers to shed light on what BCG, Bain and McKinsey consultants paid at different levels at the corporate scale, from logins to partners. Jobs were based across the country.
Representatives of BCG, Bain and McKinsey did not respond to requests for comment.
According to the US Department of Labor, the salaries offered in the disclosure data are the minimum amounts provided in foreign job certification applications for specific employees. Wages are based on the average compensation paid by similar workers in any given job, industry and similar qualification, known as the “prevailing wage”.
BCG and McKinsey reported two series for their current salaries, while Bain listed one salary.
Insider analyzed holdings from the first quarter of 2021 specifically for management-related roles, although companies also listed many other jobs, such as data scientist and engineer. Advisors can make many thousands of dollars in sign-ups and annual bonuses, which are not reflected in this data.
For the US, Bain applied for 8 H-1B visas for these and other roles with the following average salaries:
For the US, BCG applied for 47 H-1B visas for these and other roles with the following average salaries.
McKinsey has applied for 150 visas with the following salary ranges for management consultants: