Consulting in SG
 

Hi, not from MBB but from a tier 2 strat house and have a few friends from MBB and in the industry. Hence, happy to hear any updated entry-level salaries over here.

Mckinsey ~ 5.6k / month
BCG ~5.8k / month
Bain ~6.7k / month

Oliver Wyman ~8k / month (not sure about this, just heard from a colleague over a chat)
S& ~6.3k / month
Accenture Strategy ~ 5.6k / month
EY-Parthenon ~4k / month
No info on ATK & Monitor Deloitte

EY - Aug 2017 my friend went into TAS - Operations, 2.9k. Two months later got revised to 3.5k, but heard increment was based on sub-function/line of service/performance.
PwC - 4k (1st year no bonus/increment) -> 2nd year 4k (w bonus)
Deloitte - 3.5k (Not Monitor Deloitte)
KPMG - not sure, heard its quite low
Accenture (Management / Tech Consulting) - 4.3k (incl. allowance of 300 for transport)
Cognizant/Capgemini ~ 3.8k

As a consultant moves up the ladder, bonus will become an integral part of his/her salary.

MBB does not pay the best for entry-level graduates because people just flock to them regardless of salary. Tier 2s, on the other hand, have to "buy talent". Give me a 30% pay cut and i'll still move to MBB any day.

Cheers ~

hey mate, this conversation sounds familiar. Are you from LSE?

is it a good idea pay wise to do a mid career switch to management consulting?

depends on your age bah.

pay is good. but lifestyle sucks. 4 days a week travelling. long hours.

kinda difficult for someone with family and kids.

most MBB consultants move out after 2-3 years.

not to mention the lack of career stability. the up or out kind sucks. but usually then again, MBB consultants don't have a problem getting jobs elsewhere

hey man thanks for this, seems quite accurate.. maybe for your update from my own exp in SG

Mckinsey 5.8k / month
ACN (TC/MC) 4.2k including 300 transport
ACN Strat 5.4k
KPMG 3k (last i heard)

Starting salary - about 7k a month before bonus

Travel - expect to travel every week Monday to Thursday unless you are fortunate enough to be on a local case

Does it make sense to do it? Yes if you are fresh graduate. It's good exposure, pays relatively well, and you can use it as a step to other jobs. Few people start and end their careers in consulting though - too much burnout and people usually want to move on after a few years of making slide decks.

What does it take to get in? Pass the resume screening which means top grades from top overseas or local Universities. When invited for interviews pass successive rounds of tough case interviews. Overall perhaps less than 5 percent who submit their resumes get an offer at a mbb

Source: been there done that at one of the mbb

Quick question, while all the starting salaries quoted seem very attractive, what would the long term progression and earning potential be for someone in say consulting?

Even if you were to start at 6 or 7k for example, would the difference in pay be as significant in the long term? For example a consultant with 8 yrs of exp versus someone in banking with 8 yrs of exp.

Lol of course if you are stuck doing all the low level grunt wor!

Most people who join MBB fresh out of under grad do it for the career prospects. Money starts to get more interesting most MBA. After 2 years as analyst and 2 years of MBA, you come back to 12-13k monthly as associate (in Mck). As an EM (which is 2 years after Associate), you get ~250-300k annual. AP gets 300-500k and as a Partner (which is 8-10 years after graduating including MBA time) you are looking at 700k-1.2m annual comp. Which is pretty decent even if these people can probably get more working in finance or tech.

Consulting pay for fresh graduates are listed here

Wow

s://goodguydan.com/graduate-programmes-income/