My bonus at Deloitte was supposed to be 16%. They blame market conditions, covid, etc, etc and I basically get 4% every year. I was considered a top performer (5/5). Question- are bonuses actually paid out at McKinsey? Joined 3 weeks ago.

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Yes they are. My offer letter mentioned a bonus “up to” a specific number. This would be for distinctive performance (only ~5% get this). Most people are well performing, which is ~half of the distinctive bonus.

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Officially - you need to have a spike in each of the six dimensions of the Leadership Development Model (LDM)

Unfortunately, it can be a bit subjective and is more on how you sell your story/value prop to firm leadership.

It’s more objective to get the 2nd highest rating (~15% get it, 75% of distinctive bonus).

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For what it's worth for others reading this thread, the figures quoted in Bain offers are the typical performance bonuses. You can receive more as a top performer so this is slightly different than M&B.

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What is the target for PL?

I would assume the answer for all of MBB is yes since it’s true at BCG. Also going to go out on a limb and say the % is higher for each role and performance rating.

What level and geography?

I would check how McK does the % in the offer letter. For us the % listed is top performers and target bonus is half.

OP meaning only top performers get the bonus on the offer letter, "meets expectations" aka most people will get half

So I can assume I’ll get half the bonus paid out

Yes

I got my full bonus last year based on my ranking. That did not change. Base salaries went up less than other years

If I’m an average performer is my bonus gonna be half at McKinsey?

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