Compensation

Hi can someone explain YOY raises McKinsey? I’ve heard that PY (prior year) base + PY bonus = new base. Is there any truth to that?

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That’s my understanding. And year end bonus = performance-based total comp target - full year base received. It’s not really a bonus; it’s a true up.

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Better for the McK peeps to provide more detail. This was about as far as I got during sell weekend.

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Prior year total comp doesn't become your new base - that would be exponential growth and makes no sense since we don't bill exponentially. But you should expect total comp yoy to increase, unless there's been an unforeseen impact to business a la global pandemics.

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Most mck consultants can make partner in 7-9 years, so it’s a bit steeper than that

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There isn’t a rigid formula like that. But it’s a lot and the trajectory is steep.

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Can you share a bit more detail?

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