Updated November 2026 · By Dr. Florian Smeritschnig, former McKinsey Senior Consultant
In 2027, MBB consultants in the US earn about $140,000 in total cash in their first year out of undergrad and $240,000 to $250,000 after an MBA, at McKinsey, BCG, and Bain alike. Managers make about $285,000 to $290,000, and the level just below Partner $360,000 to $420,000. Partners start at around $650,000 to $700,000 and can pass $1.5 million.
All three firms raised base pay for 2027, to $120,000 at undergraduate entry and $200,000 post-MBA. At entry, the raise mostly moved money from bonus into base, so first-year totals barely changed.
I spent 5 years at McKinsey & Company as a Senior Consultant. Since leaving, I have coached candidates to more than 700 offers in consulting recruiting, with many targeting MBB specifically. This guide puts the three firms side by side on total pay at every level, then breaks down what sits behind each number, what your first year looks like, how pay grows with each promotion, and what Partners earn. For one firm in depth, see our McKinsey, BCG, and Bain salary guides.
Key Takeaways
- Undergraduate entry: about $140,000 at all three firms, a $120,000 base plus a bonus of around $20,000. With the signing bonus, first-year cash is $150,000 to $155,000.
- Post-MBA: about $250,000 at McKinsey and $240,000 at BCG and Bain. The base is $200,000 everywhere, so the difference is all bonus.
- Engagement Manager, Project Leader, and Manager: $285,000 to $290,000. Still effectively a tie.
- The first real gap comes below Partner: about $420,000 for a McKinsey Associate Partner, $410,000 for a BCG Principal, and $360,000 for a Bain Associate Partner.
- Partners earn $650,000 to $1.5 million+, and Senior Partners up to $5 million+, almost all of it profit share.
MBB Salary by Level (US, 2027)
Total cash is base plus a typical annual bonus. Titles differ across the firms, so each row pairs the equivalent roles.
How to read the table:
- Base is fixed, the bonus moves. The bases come from the firms’ own job postings and 2027 offer letters. None of the three publishes a bonus target, so the bonus in each total is the typical figure. A strong year can pay 30 to 40% more than that.
- No city discount. BCG and Bain each post one entry base for all their US offices, and McKinsey one range that covers all of its US offices.
- Your first year pays more than the table because of the signing bonus (see below).
- Partner pay is a profit share, which is why the ranges are wide. It depends on the firm’s year and on each Partner’s own clients.
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What's Behind Each Total: Base and Bonus
At entry, base is the same at all three firms. Above that, the bonus decides most of the difference, and its share of your pay grows with every promotion:
What that split means for you:
- At entry, your offer is almost all base. A strong first year adds about $8,000, taking total cash to roughly $148,000.
- Below Partner, about a third of pay is bonus, and strong years swing it. McKinsey Associate Partners can see $180,000+ in bonus, BCG Principals $200,000+, and Bain Associate Partners $130,000+.
- The one bonus cap any MBB firm publishes is Bain's in Italy: up to 22% of base for Associate Consultants, 44% for Consultants, and 98% for Senior Managers. The figures are Italian, but the pattern is the same as in the US: the bonus share roughly doubles with each step up.
Which MBB Firm Pays the Most?
For the offers most readers are weighing, none of them. The three firms pay the same base at entry, and the totals stay within about $10,000 of each other until six to eight years in.
- Undergraduate entry: a tie at about $140,000.
- Post-MBA entry: McKinsey is about $10,000 ahead on typical bonus ($250,000 against $240,000), on the same $200,000 base. That's roughly $830 a month before tax.
- Manager: within $5,000 of each other.
- Below Partner: the first real gap. Bain's Associate Partner, at about $360,000, sits $50,000 to $60,000 below McKinsey's Associate Partner and BCG's Principal, because its typical bonus is $100,000 against $140,000 to $150,000.
- Partner: the ranges overlap, with Bain's floor slightly lower. At this level, your own book of clients matters more than the logo.
If you're choosing between MBB offers as a new graduate or an MBA, pay barely separates them. The gap opens at the level below Partner, and by then your performance and your client relationships count for far more than which of the three you joined. Office, practice, and the people you'll work with every day deserve more weight in the decision. For everything beyond pay, see McKinsey vs BCG vs Bain, and for how MBB compares with the Big 4, our Big 4 salaries guide.
Your First Year: Signing Bonus and Relocation
In year one, a signing bonus comes on top of base and bonus, and the firm covers your move:
| Undergraduate entry | Post-MBA entry | |
|---|---|---|
| Base | $120,000 | $200,000 |
| Typical bonus | About $20,000 | $40,000 to $50,000 |
| Signing bonus | $10,000 to $15,000 | $30,000 to $35,000 |
| First-year cash | $150,000 to $155,000 | $270,000 to $285,000 |
| Relocation (on top) | $5,000 to $15,000 | $5,000 to $15,000 |
Post-MBA, first-year cash is about $280,000 to $285,000 at McKinsey and $270,000 to $275,000 at BCG and Bain. The signing bonus is paid once, so from year two your pay is base plus bonus.
- PhD, MD, and JD hires join at the post-MBA level, on the same base as MBA hires. Their signing bonus is sometimes higher.
- Experienced hires are paid by the level they enter at. Our experienced hires guide covers which level that's likely to be.
- Interns are paid at close to the full-time rate. The firms' US postings list $108,000 a year for McKinsey's undergraduate interns and $189,000 for its MBA interns, $200,000 for BCG's MBA interns, and $16,000 a month for Bain's MBA Summer Associates. Our McKinsey, BCG, and Bain internship guides cover the programs.
Signing bonuses and relocation don't appear in any of the firms' postings. They're in your offer letter, and that's where to check them. If you're weighing an offer, Consulting Career Secrets covers negotiation and your first months on the job.
The 2027 MBB Salary Increase
All three firms raised first-year base pay for 2027. McKinsey moved first, in August 2026, and applied the new base to candidates who had already signed, including summer interns converting to full-time. BCG's postings carry the new figures from January 1, 2027, and Bain's postings show them as well. Offer letters for 2027 start dates show the same step at all three.
| Firm and level | Previous base | 2027 base | Change |
|---|---|---|---|
| McKinsey Business Analyst | $112,000 | $120,000 | +$8,000 |
| McKinsey Associate | $192,000 | $200,000 | +$8,000 |
| BCG Associate | $110,000 | $120,000 | +$10,000 |
| BCG Consultant | $190,000 | $200,000 | +$10,000 |
| Bain Associate Consultant | $112,000 | $120,000 | +$8,000 |
| Bain Consultant | $192,000 | $200,000 | +$8,000 |
BCG's raise is the largest because it started $2,000 lower at both levels. For 2027, the three firms are level on base.
What the raise did to total pay
At entry, total cash stayed at about $140,000: base went up $8,000 to $10,000, and the typical bonus came down by about the same. Post-MBA, McKinsey's typical total rose to about $250,000, while BCG and Bain stayed near $240,000 with a smaller bonus.
That's still a better offer. A dollar of base is worth more to you than a dollar of target bonus. Base is guaranteed, it's what mortgage lenders underwrite against, every later raise compounds on it, and it's the number your next employer anchors on when you leave.
Two things to ask your recruiter: the target and the maximum bonus that come with the new base, and, if your letter still shows the old number, whether an updated letter is coming.
The raise is a US adjustment. London, Sydney, and the continental European offices run on their own pay cycles, and nothing has been confirmed for them.
Benefits and Retirement
Beyond cash, the three packages differ most in retirement and health costs:
| Benefit | McKinsey | BCG | Bain |
|---|---|---|---|
| Retirement | "A generous retirement contributions program" | Profit Sharing and Retirement Fund: a yearly contribution whether you contribute or not | 401(k) with a yearly employer contribution that grows with your years of service |
| Health premiums | Medical, mental health, dental, and vision coverage | $0 for employees, spouses, and children | Bain pays 100% of individual employee premiums |
| Parental leave | Parental leave and family planning benefits | Paid parental leave, plus reimbursement for egg freezing, surrogacy, and adoption | 21 weeks for all parents |
| MBA sponsorship | For strong Business Analysts | For strong Associates | For strong Associate Consultants |
On paper, BCG's health terms are the most generous of the three, and Bain is the only one that states the length of its parental leave. Sponsorship terms (tuition, return commitment) are in the offer, not the postings. Our MBA sponsorship guide covers how each program works.
MBB Salary Progression: How Pay Grows With Each Promotion
| Level | Typical time at level | Total pay (US, 2027) | Step up from the level below |
|---|---|---|---|
| Undergraduate entry | About 2 years | $140,000 | |
| Post-MBA entry | 2 to 3 years | $240,000 to $250,000 | +$100,000 to $110,000 |
| Manager | 2 to 3 years | $285,000 to $290,000 | +$40,000 to $50,000 |
| Below Partner | 2 to 4 years | $360,000 to $420,000 | +$70,000 to $130,000 |
| Partner | Several years | $650,000 to $1.5M+ |
Two typical paths:
- Undergraduate hire, promoted on schedule: about $140,000 in year one, rising to $240,000 to $250,000 by year four at the post-MBA level.
- MBA hire: $270,000 to $285,000 in year one with the signing bonus, rising to $360,000 to $420,000 at the level below Partner by year six to eight.
The first promotion is by far the biggest jump in pay. After that, steps get smaller in base and larger in bonus.
Time to Partner: roughly 10 to 12 years from undergraduate entry and 8 to 10 years after an MBA. Fewer than 1 in 10 entering analysts make Partner. The pyramid narrows at every level, most sharply between manager and the level below Partner. That's where the job shifts from running the work to winning it. All three firms run an up-or-out system, and most people who leave do so by choice, at the point that sets up their next step.
How Much Do MBB Partners Make?
MBB Partners earn about $650,000 to $1.5 million+ a year. The base floor is around $500,000 at McKinsey and BCG and $450,000 at Bain, and the rest is profit share. Senior Partners earn $1.5 million to $5 million+ at McKinsey and BCG and $1.2 million to $4 million+ at Bain. Those with the largest client portfolios at top offices reach $3 million to $5 million.
Partner pay depends on two things: how the firm did that year, and how much client work the Partner brings in. That's why the ranges are so wide, and why two Partners elected in the same year can earn very different amounts.
The structure is also changing at McKinsey. According to the Financial Times, McKinsey has been working on a partner pay overhaul called Project Acorn, which shifts part of Partner pay from annual cash toward equity and keeps more of it inside the firm for longer. It doesn't change how the levels below Partner are paid.
MBB Salaries Outside the US
London is among the best-paying offices outside the US. Typical total cash:
| Level | McKinsey | BCG | Bain |
|---|---|---|---|
| Undergraduate entry | £75,000 to £85,000 | £70,000 to £80,000 | £70,000 to £78,000 |
| Post-MBA entry | £150,000 to £170,000 | £140,000 to £160,000 | £135,000 to £150,000 |
Elsewhere:
- Canada: McKinsey posts a base of C$100,000 for Business Analysts and C$200,000 for Associates, and BCG C$110,000 for Associates and C$210,000 for Consultants.
- Continental Europe: roughly half to three-quarters of US pay, with Switzerland closest to US levels. Italy is lower still: McKinsey and Bain both post a base of €45,000 at entry and €85,000 post-MBA.
- Middle East: base around 80 to 90% of US levels in dollar terms, and in the UAE there's no personal income tax, so take-home pay often beats Europe.
- Singapore and Hong Kong: closer to US levels in dollar terms than most European offices.
- Latin America: roughly 40 to 55% of US pay.
Outside the US, your offer letter is the first reliable number for your office, so ask your recruiter early. For where each firm has offices, see the McKinsey, BCG, and Bain office guides.
Frequently Asked Questions
What is the MBB starting salary in 2027?
For undergraduate hires in the US, the base is $120,000 at McKinsey, BCG, and Bain, and total cash with the typical bonus is about $140,000. With the signing bonus, first-year cash is $150,000 to $155,000. Post-MBA hires start at a $200,000 base and $240,000 to $250,000 in total.
How much do MBB consultants make?
In the US, MBB consultants earn about $140,000 in total cash at undergraduate entry, $240,000 to $250,000 after an MBA, $285,000 to $290,000 as managers, and $360,000 to $420,000 at the level below Partner. Partners earn $650,000 to $1.5 million+.
Which MBB firm pays the most?
At the levels most candidates recruit for, none of them. All three pay a $120,000 base at undergraduate entry and $200,000 post-MBA. McKinsey's typical post-MBA total is about $10,000 higher on bonus. The first real gap comes below Partner, where Bain's Associate Partner earns about $360,000 against $410,000 to $420,000 at BCG and McKinsey.
Did MBB firms raise salaries for 2027?
Yes. McKinsey, BCG, and Bain all raised first-year base pay to $120,000 for undergraduate hires and $200,000 for post-MBA hires, up from $110,000 to $112,000 and $190,000 to $192,000. McKinsey moved first in August 2026. At entry, the typical bonus came down by about the same amount, so total cash stayed near $140,000.
How much do MBB Partners make?
MBB Partners earn about $650,000 to $1.5 million+ a year, on a base floor of $450,000 to $500,000 plus profit share. Senior Partners earn $1.2 million to $5 million+. Pay depends on the firm's year and on the Partner's own client work.
Do MBB salaries differ by US office?
Not at entry. BCG and Bain each post one entry base for all their US offices, $120,000 for undergraduates and $200,000 post-MBA, and McKinsey posts one range covering all of its US offices.
How much do MBB firms pay in London?
Typical total cash in London is about £70,000 to £85,000 at undergraduate entry and £135,000 to £170,000 post-MBA, with McKinsey at the top of both ranges and Bain at the bottom. The 2027 US raise hasn't been confirmed for London.
The Bottom Line
MBB pay for 2027 comes down to this: about $140,000 at entry, $240,000 to $250,000 after an MBA, and $360,000 to $420,000 at the level below Partner. The three firms sit close enough that pay shouldn't decide which offer you take.
The table is the same for everyone at a level. What differs is whether you get the offer, and that comes down to skills you can measure and build. A rejection doesn't settle it either: based on my experience, around 1 in 5 MBB consultants got in on their second try.
You can't grade yourself, though. Find out where you actually stand. Take the StrategyCase 2-minute diagnostic → It shows which case skills are ready and which aren't. If you want a plan from there, book a free 15-minute intro call.
Related Guides
- McKinsey Salary by Level
- BCG Salary by Level
- Bain Salary by Level
- McKinsey vs BCG vs Bain
- Big 4 Salaries
About the author: Dr. Florian Smeritschnig is the founder of StrategyCase.com and a former McKinsey Senior Consultant who evaluated candidates for the firm. Since 2020 he has delivered 2,300+ mock interviews and coaching sessions, and his clients have secured 700+ consulting offers, 340 of them at McKinsey, BCG, and Bain. He is the author of three books on consulting interviews and careers, including The 1%: Conquer Your Consulting Case Interview.
