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Another good one
Waiting for BCG R1 results…. 😕
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That is a terrible idea. I imagine they’re similar- just go with whichever group they vibe with more
BCG’s comp is usually a bit higher, but McK allows for faster trajectory. But neither should make a decision. Go with culture and fit every day as the primary decision maker. I can’t stress this enough. This is especially true if your cousin plans to stay in the industry.
Agree with some of the comments that comp will not be a differentiator. At entry levels, firms in the same tier don’t meaningfully differentiate on comp because it’s not worthwhile. The comment that McKinsey allows a faster trajectory is not factually accurate (but accurate from an advertising perspective) so your cousin should not make a decision based on that either.
Besides culture and fit, he should consider how each firm has publicly demonstrated the way they live up to their values. That is, if he’s considering a long term career in consulting (>5 years). If he’s looking for a shorter duration he would not be making a mistake going with either even if one of them may be a slightly better answer. Both are prestigious firms
Finally, if he gets an offer at both, you should re-ask the question to get more perspective.
It allows a faster trajectory for a small percentage of folks - perhaps that is more factually correct 😊 For the average person, there is no meaningful difference in trajectory pace.
Similar enough that it should not be a factor in the decision. Ours is usually pro-rata of our full time offer which would put it at $32k for 10 weeks.
I get that but I’m saying any difference is absolutely immaterial. Anyways, haven’t seen an offer letter this year, but $32k would be consistent with how we’ve always set it relative to the FT offer. And McK being the same would be completely consistent with all available observations.
BCG. at internship level it doesn’t matter. At associate level it does. BCG has more loose expense policy, and will pay for out of state tax. So savings could be as high as 10%
Choosing based on internship comp is not smart. BCG net comp is higher though you can be a partner at McK faster.
Nm. Found it in 1 Google. Not sure I like your cousin’s prospects...
https://managementconsulted.com/consulting-salaries/2019-management-consulting-salaries-for-undergraduates-mbas-phds-interns/
Thanks. He is not just making a decision based on compensation. This is for his informational purpose. He found the Google link but wanted it validated here.
Decide based on who gives the best swag. Don’t pimp yourself out for a pleather notepad and a stress ball.