I'm in Chicago, working for a local firm, earning $126,000 a year as a Principal. How much more do MBB firms pay for this role?

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No one can tell you since we don’t know what your local firm titles translate to. You have to describe your role and responsibilities first. Principal/Partners at MBB earn 700-3 million.

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A lot more. The range varies a bit because MBB AP, BCG P, and Bain SM and AP are all slightly different in seniority. But at least $300k and up to $500k+ (impossible to consistently earn that much because if you're clipping that much then you're gonna just become a Partner/MD)

Slalom?

My brother/sister-in-Christ, most firms pay their post-MBA more money than that. What level is “principal” at your firm because most of us are “partner” level or in the case of BCG, it’s higher than an engagement manager role.

What does that title mean? How many years of experience generally? Is this above project/engagement leader or below? Salary suggests the latter for sure.

Probably more!

At major strategy consulting firms like McKinsey & Company, Boston Consulting Group, and Bain & Company, a principal‑level (often called Associate Partner or equivalent) total compensation in the U.S., including base, performance bonus, and any equity or profit‑sharing, is generally much higher than $126,000 and commonly ranges into the high‑six‑figures ($300,000 + annually) depending on firm, office, and performance. Senior manager and principal salaries at these firms regularly place median compensation around $240,000–$400,000+ in major markets like Chicago, with variation by experience and bonus structure

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