McKinsey & Company Potential offer at McK, experienced hire (17 YOE but no generalist consulting background) coming in as EM in their solutions practice. I was told the TC base + bonus was 180K.. Likely offer $180K base, 15% bonus, asked for sign on bonus - don’t know a number yet.. is this standard within the range? What else can you negotiate and how much? Relocation expenses? Any inputs/advice to negotiate better appreciated.. McKinsey & Company
Be clear about what you’re signing up for, and what not.
Solutions means lower comp, slower trajectory, and generally at times a second class feeling.
It also means that you’re across multiple clients at the same time (vs staffed to just one) and thus have the opportunity (and the duty) to own your work plan, much more than an EM would.
If done right, this can offer you a good work life balance.
It also means no up or out (rather grow or go), ie less personal stress.
All of this may make for a very good package, or you may hate it - but for sure it is different than a generalist’s experience.
D3, because you get more control over what you commit to, and until when.
I am just so pleasantly surprised how helpful other Mck folks have been on this thread to advise OP and help him evaluate the offer. Just based on that I can see how different McKinsey is compared to big 4 (speaking from 10 YOE at Deloitte).
No worries
Mentor
17 YOE and 180k base at the EM level? HELL no
That’s a low base for 17 YOE
That’s an average 2nd year associate’s TC (180 + 15%). It’s a ludicrous offer for an EM with that much experience.
I don’t think we negotiate, but I would definitely try
I would not take that
2nd year after MBA.
Op, are you an expert hire for technical consulting ? Or coming in for general consulting?
Will be in their Periscope solutions under M&S practice.. not the generalist track.
Depends on where the 17 years were but seems low
Why the mention for India?
You should be able to get more
How do you negotiate? The recruiter has been upfront about the range for this role..Glassdoor and other sites aren’t helpful to drill into to get more data
Seems pretty low for a 17 yoe
Fo reference, I have 1 YOE and negotiated a 10K sign on bonus with a big 4 firm. Look to really drive that and your salary up.
That’s great. I have asked for sign on and willing to sign a voluntary to share my current RSUs and what I’ll be leaving on the table when I leave (un-vested)
Are you on expert partner track ? I assume that’s a yes . 180k in NY is very low . If it was in Cleveland, I could say try it for better exit opportunities.
In the short term (next 1-2years) switching is not worth it.
Think long term as you evaluate this decision. If you will be on a partner track and can potentially make it to partner in 5-6 years (2 years as EM, 2 years as AP, 1 year buffer at each level) then it’s worth switching.
Your comp as a partner will be >$500k (please validate this number) and even more with bonus, profit sharing, etc (potentially $600-750k all in as 1st year partner) as a partner. >500k will go a long way in Dallas/Chicago. You will have direct access to C-suite of top firms as a McK partner which will open more C-level exit opportunities.
Disclaimer- Not trying to be overly optimistic as partnership is not guaranteed and you will need to work hard for earning it.
How much is your current comp? Do you foresee better offers in the near future at your current org/competitors?
If you are getting a 20-30% bump then take it. McK salaries/bonuses grow at more than those in the industry. You stay at McK for 2-3 years build your network, get the brand name and exit with even better offers. You can also switch tracks after 1 year at the firm.
I honestly doubt that unless you bring a very solid reasoning you can easily switch at EM level.
An integrative EM has a very specific toolkit, which you likely won’t bring and will find hard to learn (because you won’t be working in a path that teaches you).
From what I’ve seen, track changes towards integrative are done at a lower level, and at the EM level usually go the other way (from integrative into solutions or other roles).
Wow that’s low
For 17 YOE? Of course that’s low
What’s your comp right know?