McKinsey 🐠 - Friend is interviewing for an Associate role in McKinsey’s implementation practice... what kind of annual raises can she expect in non-promotion and promotion years?

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Raises can vary from 10% to 40% but are independent of promotion. There is no financial incentive (from a base pay perspective) to get promoted to manager. The only incentive comes from larger bonuses when at promoted positions. But usually that can lag promotions by 6-12 months.

There usually are significant increases if promoted to AP or P.

There are also only 4 promotions: Engagement Manager, Associate Partner, and Partner. You can make partner as an associate in 4-8 years, with most people who achieve it doing it in 6-7 years.

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