Kearney Business Analyst Salary
Kearney Business Analyst Salary – Consulting organizations (particularly management consulting firms) are some of the largest employers of MBA graduates. Look no further than her latest MBA hiring report to confirm this. Nearly a third of her top MBA program classes chose consulting as her post-MBA career in 2020. But as the war for MBA talent heats up, top consulting firms are now battling not only their own companies but also other industries such as finance. Technology for MBA graduates. As a result, consulting salaries offered to MBAs in 2019-2020 have reached record levels.
Two to three years after graduation, you can expect a base salary of $220,000 as the MBA transitions into project leader and manager roles. 250,000 – $320,000. At the Junior Partner level, the base salary increases further to $350,000 – $420,000. That’s not all.
Kearney Business Analyst Salary
At the Senior Partner level, you earn $1 million or more annually, with a base salary of $450,000 to $650,000 and bonuses of $500,000 or more.
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In this article, we’ll take a closer look at the MBA’s consulting salary earned in 2020 and what to expect in 2020 and beyond.
Base salary is one of the largest components of the total compensation package a consultant receives each year. In mid-2019, due to increased competition for his MBA talent from other industries such as finance and technology, McKinsey, Bain and BCG (MBB companies) increased his base salary for MBA recruitment to US$165,000. That’s an increase of more than $12,500 compared to his 2018 base salary in consulting.
A contract bonus is her one-time thing offered when a consultant signs a contract. In 2020, consulting firms such as McKinsey, PwC and Strategy& increased contract bonuses by $5,000 compared to 2018. Similarly, companies such as Accenture Strategy and KPMG increased singing bonuses by $10,000.
This salary component is used by rival companies to lure prospective graduates away from her MBB. Non-MBB companies are taking advantage of higher salaries and other perks to further attract prospective MBA graduates. Carney matches her MBB of base salary and contract bonus with a performance bonus of up to $44,100. Her Strategy and Operations practice at Deloitte goes even further by giving the returning intern a full refund of her second year of tuition.
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Deloitte’s Strategy and Operations practice goes even further, offering a performance bonus of up to $40,000 and a full reimbursement of her second year of tuition for returning interns. This adds up to $185,000. Strategy& goes up to $55,400 in performance bonuses.
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It is important to note that these bonuses are heavily taxed. More importantly, the maximum performance bonus figures advertised above only apply to the best consultants.
Average performing consultants make at most half the maximum. Another thing to note is that salaries are often high because of the high cost of living. So choosing an office in a city with a low cost of living can optimize your take home.
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Due to MBB’s and other companies’ strict “up or out” policies, many management consultants never reach the level of their partners. However, in the US, quitting a consulting job will also receive a 12%-20% pay increase along with a better work-life balance and a better lifestyle.
A management consultant who chooses to enter financial services could see her compensation increase by 30% or more. However, this often comes with a poor work-life balance.
Base salary increases by 10-20% annually, outpacing compensation growth compared to other industries. This is a big draw for a consulting career. These numbers become more pronounced at each stage of a post-MBA consultant’s career.
His MBA average base salary for top consulting firms in 2020 is $157,364. the year itself.
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Notably, the highest total reward and his second largest total reward increase were provided by Strategy&. Booz Allen Hamilton had the highest increase in total earnings – $33,250.
Compared to undergraduates, top consultant MBA graduates earn more base salaries between 55,000 and 78,000. Here is the data:
According to PayScale, the average salary for management consultants in India is INR 1,149,770. Top employers include Deloitte Consulting LLP, KPMG, Accenture and EY.
A Consultant Senior Product Manager can earn an average of INR 2,254,402 while an IT Management Consultant can earn an average of INR 1,504,283.
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Similarly, according to Glassdoor, an entry-level consultant can earn an average of Rs 413,000 while an associate consultant can earn an average of Rs 6,50,000. The national average salary for consultants is Rs 9,50. 000 in India. Here is the data:
On the other hand, internship salaries did not increase in 2020. MBB companies offered him $32,500 for his 10-week internship as standard. Boutique firms offered performance and contract bonuses to attract talent for internships.Accenture Strategy offered returning interns up to $50,000 in tuition reimbursement. This is on top of the $30,000 she provided as a base salary to the intern.
From the data below, only three of his companies—Accenture, Deloitte S&O, and E.K.—had reimbursed returning interns.
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Kearney Case Interviews & Culture
His four largest consulting firms, nearly 40% of the industry, are Deloitte, EY, PwC, and KPMG. This is followed by BCG and McKinsey & Company. Check out the top 50 consulting firms to work for in 2020. Which consulting firm pays the most to start an analyst? Which one is better for career progression? to take a break? Or for work-life balance?
With salaries approaching $100,000 for even first-year analysts and interns, competition for positions at top companies is fierce, and interviews are notoriously tough. Let’s face it. Not every aspiring consultant gets a job at McKinsey & Company, The Boston Consulting Group, or one of Bain & Company’s Big Three, known in the industry as MBB.
Wall Street Oasis (WSO) Founder and CEO Patrick Curtis told Poets&Quants: “MBB is still where everyone wants to be, but Deloitte and PwC in the world all have good practices and offer great careers in consulting. I tell my candidates no. They can still have great careers.”
WSO is an online community, news site and career center for people working or seeking to work in the financial sector. It has around 900,000 registered users and reports massive data about the companies they work for. His 2022 Consulting Industry Report for WSO uses this user-reported data to provide insights into nearly 20 different metrics that job seekers can’t find anywhere else.
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WSO’s reports are constantly changing based on new information that users report to his WSO company database, which includes his over 50,000 submissions across thousands of companies. The report you’re looking at today is the latest of the month and includes data from the last two years as well as year-to-date. Because of this, some of the latest trends reported by users will not appear until later reports. (WSO uses Bayesian statistics to create percentiles for companies with few observations.)
For aspiring consultants chasing the highest salaries, WSO tracks average salaries and bonuses for users across all career levels. On average, based on 409 respondents, an intern/summer analyst’s base salary is $60,000 per year (or about $5,000 per month), and the bonus is $7,000 for him. First-year full-time analysts earn about $75,000 a year with a $10,000 bonus, while principals earn more than $211,000 a year, with an average bonus of $58,000.
Clearly, some companies pay more than average, while others pay less. TresVista, a private financial services firm based in Mumbai, India, paid an analyst about $175,000 a year for reporting to the WSO one summer and he got a $38,500 bonus, according to Wall Street Data.
The Boston Consulting Group, looking at companies whose WSO respondents had 10 or more of her respondents, found that summer analysts (18 respondents) paid an average of $94,200 (or
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