- Salary reports from Management Consulted, a careers resource website that helps graduates land consulting jobs, indicate that MBA graduate consultant salaries are getting higher.
- Business Insider analyzed Management Consulted's salary reports from 2015 to 2020 and found that leading consultancies have an average entry-level salary increase of nearly $40,000 for incoming MBA hires.
- Bain & Company alone increased their compensation package by nearly $60,000 since 2015.
- We've compiled a ranked list of consulting firms with the highest salary increases over the past five years based on six salary reports.
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Consultants can make high salaries, and their expertise continues to be in high demand.
Consulting firms hand pick young professional out of business school and offer them hefty salaries. While a recent college graduate can earn up to $130,600 right out of college, MBA graduates get drastic salary bumps and can make up to $170,000 in base salary alone - and that's not including bonuses and company covered expenses like relocation.
Management Consulted, a careers resource company that helps graduates land consulting jobs, has released salary reports from leading consultancies for more than six years. They based figures off information from clients, industry insiders, and offer letters. The company declined to give the exact number of salaries used to compile the data.
Business Insider compiled a ranking of firms with the highest salary increases for MBA grads in the past five years. From 2015 to 2020, these firms have an average salary increase of nearly $40,000. Bain & Company, for example, boosted their total potential pay by $57,250, from offering $195,000 in 2015 to $252,250 this year, according to Management Consulted's reports.
The potential total compensation includes the base salary, signing bonus, performance bonus, and compensation for relocation. The ranking is determined based on the calculated compensation from 2015 to 2020. It's also important to note that the numbers below are maximum possible salaries for business school graduates.
Click here for Management Consulted's most recent salary breakdown.
Here are the 10 firms with the highest starting salary increase for MBA graduates in the past five years, ranked lowest to highest.