How do salary bands at biotech consulting firms (ZS associates, Clearview, Putnam associates etc.) comparable to MBB?

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Boutiques start lower by ~30-40% initially. Had offers from 2 of the life science boutiques. Starting all-in for a PhD level candidate (base, bonus, 401k, signing bonus, relocation) was ~130k. Far less travel and much closer to the science, though. Putnam places its PhDs a step below MBA level, so not sure how comp is for MBA, but my uneducated guess would be ~150-170k.

ZS is a bit different - PhD starts a level below MBA, have heard comp is in the 110-130k range. MBA not far below MBB and standardized, believe it’s something like 200k (10-15% below) all-in.

I’m not sure how this progresses as time passes but I’d imagine the gap widens a bit.

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Can confirm 130k+ for experienced PhD comp at ZS

ZS post-mba base was $145K in 2018. With sign up bonus and other items, close to $200K in the first year

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Pay bands are generally higher than B4 but lower than MBB. As reference, Huron LS MBAs make $150k vase plus $20-$25k signing and ~20% bonus. They come in one level higher than PhDs. It’s good but definitely not close to MBB. Newly minted managers (one level higher than MBA) are around $170-$190 base plus 25% bonus.

Re the convo about MBA comp specifically I think Putnam / ClearView’s MBA base is lower not because they pay less than market in general, but because they don’t specifically recruit on b school campuses (correct me if I’m wrong) and therefore don’t have distinct market rate MBA salaries. The few MBAs they hire (they favor PhDs) also come in at the PhD level (so one level and salary band lower than firms that hire on campus).

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So an MBA with considerable YOE in healthcare would join in one level below Consultant ? :/

It is hard to compare but since levels are hard to match. However, I would say base salaries are ~$20-30k lower. But the big difference is bonus %s. MBB is double the %s

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At ClearView the total compensation (base+bonus) bands are lower than MBB. Good thing is that historically the target bonus has always been paid in full to 99% of staff, so folks effectively think of it as salary. If you have specific questions about any title, I’m happy to elaborate.

And what is the MBA offer at clearview and ZS?

By all in, I meant salary + bonus not other stuff like signing, relocation, and 401 K

I had an offer from Putnam out of B school (top 10) It was insultingly low. Otherwise seemed like a great boutique.

This was back in like 2014. Hell no I didn’t take that offer. Went to another boutique and left after 6-7 years to an industry role.

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