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McKinsey & Company I’ve been working at ZS in technology consulting for healthcare clients for 4.5 years now and looking to transition to either McKinsey or BCG.
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It's in all likelihood not a raise. You go up a level, which is at a higher pay grade (like from 1st year analyst to second). The entire pay scale gets adjusted once in a while for competitiveness/inflation reason. In practice it means every year your pay probably goes up 6-12%.
C1 has it, except it’s more like 20%. And you’re only there (below manager) for a couple years (up or out)
McK1- without a promotion it’s 20% per year? Wow
It's always a promotion. Remember, up or out. Also, 20%? Like... 140 to 168 in salary in a year post-MBA? Doubt :P
But I mean if it takes 2 years to go to the next level, there would be a year where there’s no promotion... am I missing something?
No, you're not. Yes technically there's a year where you get your 10K or whatever raise without a promo. That's because the promos give you a larger increase (like from analyst to associate). However, it's still up or out. If you're awful you're still not making it, you need to be at least mediocre.