Appearing for IIFT 2018? Here is a list of top MBA colleges that accept IIFT scores. Apply to these colleges with your IIFT score to grab a seat in your desired MBA institute.
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Friday, January 25, 2019
Top MBA Colleges accepting IIFT 2018 Scores - Jagran Josh
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Friday, January 18, 2019
MAH-CET 2019 Syllabus: What to expect in the exam? - Jagran Josh
DTE Maharashtra has updated its syllabus for MAH-MBA/MMS CET 2018 exam that is scheduled to be held on 10th March, 2019. Therefore, it becomes a must for MAH-CET exam aspirants to go through the revised MAH-CET syllabus in order to prepare for the examination productively.
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MAH-CET 2019 Exam Pattern: Changes introduced this year - Jagran Josh
MAH-CET 2019 exam pattern holds the key to cracking the MBA entrance test to get admission to top MBA colleges in Maharashtra. Get all the details about MAHCET exam pattern here.
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Top Colleges accepting MAH-CET 2019 Score - Jagran Josh
MAH-CET Exam is going to be held on 10th March, 2019. The exam will be conducted online and will be of 150 minutes. After the exam, the next big thing for the candidates is to identify the top colleges to seek admission. Here is a list of top B-schools that accept MAH CET Scores for admission to the MBA programme.
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Thursday, January 17, 2019
For Women, Doubts About The MBA As Economic Mobility Engine - Poets&Quants
The pay gap is a persistent reality for women post-MBA. In fact, according to a new report by the Forte Foundation, the gap is widening.
The MBA has always been styled as a ticket to a better income, and by extension, a better life. New data released today (January 17) by a non-profit consortium of leading corporations and business schools strongly suggest that that pathway currently exists for men to a much greater degree than for women.
The Forte Foundation’s report, Outcomes and Perspectives of MBA Graduates, shows that the pay gap that women and men take into their MBA experience follows them when they re-enter the workplace — when it actually becomes worse than before. Yes: the pay gap widens from pre-MBA to first post-MBA job to current role, as women on average earned 97% of what their male counterparts earned pre-MBA, but just 90% in their first post-MBA job — and a shocking 72% in current compensation, adjusted for years of experience.
Moreover, the study found, women with an MBA don’t advance to the same level as men, have fewer direct reports, and have less job satisfaction. The report also looked at minority MBA graduates, finding that even as the degree helps them narrow the pay gap with non-minorities, overall they have lower career satisfaction than non-minorities in both salary and career progression.
“It’s encouraging to see that an MBA provides greater economic mobility for women and minorities and narrows the pay gap for minorities in their first job post-MBA, but the whopping gender pay gap and income disparity for women and minorities needs to be addressed, and soon,” says Elissa Sangster, Forte Foundation CEO.
THE GOOD AND THE NOT-SO-GOOD
Elissa Sangster. File photo
The Forte Foundation’s online survey of 900 male and female MBA alumni who graduated between 2005 and 2017 is the first part of a new research series, and the results are decidedly mixed. On the one hand is the persistent and widening pay gap between the genders post-MBA, most strikingly seen in the areas of finance and operations; on the other is the undeniable financial benefit all MBA holders derive from having earned the degree, in the form of a massive income boost.
While on average women earned 3% less than their male counterparts pre-MBA, the gap widens to 10% for first post-MBA position, and 28% for current compensation, adjusted for years of experience. And while women do, indeed, get a positive ROI from the MBA, seeing a 63% salary bump from their last pre-MBA job to the first post-MBA role — that is dwarfed by the 76% increase for men in the same circumstances.
Forte looked at the minority experience as well, and there the results were … also mixed. On the one hand is a narrowing pay gap for minorities versus non-minorities overall in their first post-MBA job — but on the other is the fact that in their present position, minority women still make 52% less than non-minority men, a difference of $76,589. Overall, minority MBA graduates had lower career satisfaction than non-minorities in two areas: their current salary and their career progression since obtaining an MBA.
“We’ve been working on that minority problem a bit longer, even though women in the workforce have been the focus on gender imbalance the last 10, 15 years,” Sangster tells Poets&Quants. “So many minority issues were beginning in the ‘60s and ‘70s in terms of equity in the workplace — so it’s good that that’s playing out in some of these numbers. But obviously, on the gender side, there’s still a ways to go.”
‘WORK TO BE DONE UP FRONT’
The Forte survey was conducted between March and April 2018, and the research was led by Michelle Wieser, interim dean of the St. Catherine University School of Business & Professional Studies in St. Paul, Minnesota. It was distributed through the Consortium for Graduate Study in Management, Forté Foundation sponsors schools (which include most of the elite U.S. and international B-schools), and the Forté Foundation database of alumni. Participants were asked to provide their current job function, to allow researchers to take a deeper dive into what might be driving the gender pay gap with current compensation.
They found that the job functions shown to contribute the most to the gender pay gap are finance (60% gap) and operations (48% gap), while marketing is the only function where women were shown to earn more than men (2%). Around 40% of respondents — primarily women — say they’ve experienced a gender pay gap.
Overall 55% of respondents believe that a gender pay gap “probably or definitely” exists — but it’s a view that only one in three men share with two in three women (men 34%, women 65%). A greater percentage of minorities believes that a gender pay gap “probably” or “definitely” exists (women: 68% minority, 63% non-minority; men: 44% minority, 33% non-minority). Survey respondents also under-estimate the gap, guessing it to be around 24%, with men earning 24% more than women — but the actual gender pay gap reported in the Forte study was 28% (adjusted for years of experience), representing over $58,994 in annual compensation.
“I think that there’s still room for improvement and work to be done up front,” Sangster says. “I think from a corporate perspective, they need to really pay attention to the inequities that are out there in the workforces, especially in this really important leadership pipeline that we know MBAs are for these companies, to make sure that they’re giving women the opportunities that they need to advance in their careers — and not to marginalize those opportunities even after they’ve invested in this MBA path to leadership.”
Business schools have been getting closer to the parity threshold for years, with one major school — USC Marshall — achieving it last fall. But a new report from the Forte Foundation shows that women should be concerned with what happens after their MBA experience when they rejoin the workplace. File photo
How do women combat the pay gap when they realize they are on the wrong side of it? The top survey responses were: “I have not taken action and do not intend to,” and “I left the company.” It’s a recipe for inaction, Sangster tells P&Q.
“I think women need to take action and call attention to these inequities and not walk away from an organization without being clear about why you’re leaving,” she says. “And I think as they’re exiting we saw that they weren’t addressing that necessarily with their employer and I think it’s on the onus of the company as well though to ask those questions and to have a good understanding of why they’re losing talent and not just assume that it’s about something that’s work/life balance or stepping out of the workforce or whatever assumption they might be making but that those employees are choosing a different path because they didn’t see that path open to them at their company.
“When we asked women MBAs how they intend to address the gender pay gap they’ve experienced, it’s more common for them to leave the company rather than speak about it with their manager, human resources or company leadership. This is a wake-up call — companies need to take proactive steps to lessen the pay gap, or risk losing highly skilled women employees.”
MORE BREAKS FOR MEN, CHALLENGES FOR WOMEN
Additional research insights and data include:
- For minority women and men, the return on investment for an MBA is even greater than non-minorities in their first post-MBA job in terms of a salary bump: women (minority 70%, non-minority 63%); men (minority 84%, non-minority 70%). Meanwhile, the pay gap narrows post-MBA between minorities and non-minorities: (24% pre-MBA, 16% first post-MBA job, 12% current role).
- In addition to compensation, the Forte study examined other typical measures of career progression, including a number of promotions and direct reports, plus level-title, since the first post-MBA position. The outcomes revealed that, on average, men have received 2.3 promotions since completing their MBA program, while women have only received 1.8. Men have an average of 3.3 individuals reporting to them; women only have an average of 1.8. And men have achieved, on average, the equivalent of the Director level within their organizations, while women trail behind one rung on the career ladder with an average level of Senior Manager. However, the study found no statistically significant differences in these areas for minorities versus non-minorities.
- The research also examined six elements of career satisfaction: current role, company, level within the organization, the number of direct reports, current compensation, and career progression to date. It found that men have achieved higher levels of career satisfaction than women across all six elements. The number of direct reports women have, and their current compensation, are the biggest sources of career dissatisfaction for women.
“I really always thought that the MBA kind of leveled the playing field, and I think it still does in some respects because I think the opportunities that are out there are different post-MBA,” Sangster says. “But it doesn’t necessarily level the playing field in terms of the salary and I think that gap persists and it’s kind of related to the women making choices to go to other places. Maybe they’re not asking to address the issue within their own organization and see that pay gap go away or their pay increase. And I think that ultimately, in their post-MBA careers, they are still they’re faced with a lack of flexibility. Many of them are entering into a time in their career when they are thinking about work/life balance, and so if a company has not structured opportunities so that it’s flexible and it allows them to do both of those things, and you’re in a two-MBA household perhaps and you’re both out pursuing your careers and then you’re confronted with how to balance work and life, somebody usually steps back and I think often that is the female in the relationship.
“And so I think that’s part of what’s playing out, especially knowing where MBAs are going in their career path into these financial firms, the consulting firms that require some sacrifice that potentially women are not able to make because of other reasons, family reasons, or they’re just not willing to make because that’s not the most important thing to them. These firms haven’t really figured out how to structure a professional career leadership pathway that accommodates these kinds of choices.”
Source: Forte Foundation
Source: Forte Foundation
DON’T MISS MBA PROGRAMS WITH THE MOST WOMEN or HOW USC MARSHALL ACHIEVED GENDER PARITY
The post For Women, Doubts About The MBA As Economic Mobility Engine appeared first on Poets&Quants.
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XAT 2019 Result announced; Download XAT scorecard @ xatonline.in - Jagran Josh
XAT 2019 Result has been announced by the Xavier Institute of Labour Relations / XLRI on January 16, 2019. MBA aspirants can now check their XAT 2019 result online on official website of the institute i.e. www.xatonline.in.
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Wednesday, January 16, 2019
New M7 Data, Familiar Magnificence - Poets&Quants
Rain or shine, it’s never a bad time to graduate from Harvard Business School. Just ask these 2018 MBAs, who earned a median salary of $140K after graduation. HBS photo
“It’s good to be king” is more than a wry quip from a legendary comedian. In all walks of life, including graduate business education, it’s better to be on top and in charge. These days, amid what many consider troubled waters for MBA programs, the M7 — the “Magnificent,” or “Magic,” 7 schools long considered the elite of the elite — have had mostly smooth sailing.
Mostly — but not entirely, as the data show once again this year.
Yes, the M7 — Harvard Business School, the Wharton School at the University of Pennsylvania, Columbia Business School, Northwestern University’s Kellogg School of Management, the University of Chicago’s Booth School of Business, Stanford University Graduate School of Business, and MIT’s Sloan School of Management — are ranked in the top 10 in just about every ranking that matters of U.S. schools, and in the top 20 globally. And even as forces beyond the control of the masters of the biz ed universe buffet mid- and lower-tier schools’ MBA programs, the M7 continue to be bastions of strength, in admissions as well as academics. They are talent magnets, and probably always will be.
But even kings have their problems. Looking at the bundle of 2018 school data, amid the usual mountain of superlatives is at least one glaring soft spot that the M7’s deans must puzzle over: a weakening of international interest in attending a U.S. school, which has contributed to a widespread slump in application volume that even the top schools have not escaped. It’s no longer a mystery why it’s happening; but even in the rarefied air of the best of the best, the reality of a long-term downturn in the MBA landscape can’t be ignored.
LEADERS OF THE PACK
It’s been said that Poets&Quants and others write too much about the M7, but there ‘s a simple reason: People care. Haters are gonna hate, but they also love to read about what they hate. And alumni of the M7 love to read about their alma maters.
It’s easy to love to read about the M7. In most ways, they’re what all other business schools aspire to be. They have among the highest selectivity rates; they have some of the highest GMAT averages and undergraduate GPA averages; they produce the most satisfied graduates who become the happiest — and most generous — alumni. And as the sands continue to shift in the MBA world, with specialized master’s programs and online degrees growing in favor and the MBA becoming the subject of frequent forecasts of doom, the M7 are innovation leaders. Whatever may come, they are likely to be at the forefront of it. No wonder they also have the highest yield rates and consistently dominate the upper reaches of the various rankings.
No wonder, too, that they are also among the most expensive schools in the land: Of the nine U.S. schools with a total estimated cost of more than $200,000 for two years of a MBA program, all of the M7 schools are on the list (joined by NYU Stern School of Business and Dartmouth College’s Tuck School of Business). Those price tags never come down — they only go up. Then again, as expensive as they are, the M7 also have the highest ROI: In a comparison of 2018 starting salaries versus debt burden, all seven schools were in the top 10 for a positive pay-to-expense ratio.
BREAKING DOWN THE DATA
As good as the M7 schools consistently are, they seem to get better every year. Median salaries are up at each of the seven schools, led by Stanford’s $142,000; while job offers at three months are up at five of the seven schools, led by Wharton’s 98.4%, and only down marginally at MIT Sloan (97.0% from 97.1%) and Chicago Booth (96.3% from 97.1%). According to The Financial Times, six of the seven schools saw an increase from last year in the average difference in alumni salary before the MBA to now, led by Booth’s 118%. Only Columbia, at 103%, remained flat from 2017 to 2018.
Meanwhile, even as median salaries rose at most of the M7, as we mentioned above, bonuses are up at four of the seven schools, reaching a median $30,000 at Wharton, Columbia, Kellogg, and MIT.
In other metrics, the schools got a little less selective, with only Booth becoming harder to get into (23.5% acceptance rate for the Class of 2019 to 22.9% for the Class of 2020); but GMAT scores went up at six of the seven schools (and returned from the stratosphere at Stanford), and GPAs stayed flat or ticked upward at six of seven schools. Yield rates fluctuated a bit but basically stayed the same.
The fact is, the stats don’t fluctuate much when you get into the upper echelons of graduate business education — nor do the standings (see next page for a summary of those). What does fluctuate is student interest in certain industries, and therefore what each school becomes best known for. Kellogg is a marketing school? Sure, but did you know 28% of the school’s graduating Class of 2018 went into tech, a 3% increase from last year? Stanford leads the way in entrepreneurship, with 16% of grads starting their own business or going to work for startups — but MIT is close behind, with 10% of its most recent cohort of MBAs going that route. So did 9% of 2018 Harvard MBAs.
(See the next pages for more data on the M7 schools.)
Surprise, surprise: Harvard remains the elite of the elite, sharing No. 1 in both the Poets&Quants 2018 ranking and the U.S. News 2019 ranking. File photo
How The M7 Rank Against Each Other
One fact of business school life can be counted on year to year: The M7 schools will be at or near the top in every ranking. Here at Poets&Quants, all seven schools are in the top eight in our 2018 ranking, just as they were last year, with Wharton sharing the top spot this year with Harvard; it’s a similar case for the most recent rankings by U.S. News, Forbes, and Bloomberg Businessweek, in which none of the seven schools drops below ninth place. That’s not the case for the Financial Times, which does a global ranking that includes schools outside the U.S., nor the Economist, which has a puzzling and questionable methodology. In the newest FT ranking, Kellogg is 12th (as it was last year) and MIT is ninth, up from 13th; but in the latest Economist ranking, Kellogg is second (having been unseated from its perch at No. 1 by Booth), and MIT is 16th, having dropped from 12th two years ago to 19th last year before rebounding somewhat on the latest list.
Below, to provide a better picture of a school’s strengths and weaknesses, we’ve also compiled the U.S. News ranking of programs by discipline. These numbers are nearly a year old and will be refreshed in March when U.S. News releases its new ranking. The final table on this page parses some more data from the U.S. News and Financial Times rankings: U.S. News‘ scores from corporate recruiters and academics and The Financial Times‘ alumni recommendation and academic research rankings, as well as FT‘s salary increase figures cited on page 1.
HBS photo
What You Can Expect To Pay At An M7 School
An MBA degree from an M7 school is pretty much a sure thing. No one is going to question your decision to go to any of these schools, and very few of the graduates from these institutions regret their choice to attend. But none of this comes cheap.
The highest estimated cost of the MBA degree among these elite schools is at Stanford, where the price tag, including living expenses, is now $231,672. Of course, that’s the price for a single person — it’s much more costly for married students at one school, at least: Stanford, where the two-year cost of a MBA balloons to $278,352 if you have a spouse.
Then again, all these gaudy tuition and total cost numbers are pre-scholarship grants — and it turns out that even though all of the M7 schools now cost more than $200,000 to attend, all offer financial help at fairly high levels, with both Harvard and Stanford MBA students receiving an average of more than $35,000 annually (according to the most recent data available), and Wharton and Booth students close behind at $32,000 and $30,000, respectively. This data is more than two years old, however, and schools don’t make overall figures like this readily available; check the schools’ websites for more information on fellowships and scholarships. There are many. The money is out there. We know, for example, that Harvard leads the way in aid packages among most schools.
That’s an important part of the financial puzzle to keep in mind when you apply to these schools. Don’t let the sky-high tuition scare you off. In effect, every school has a two-tier pricing structure for the MBA: the full sticker price and the discounted price. Stanford and Harvard claim to only give out money based on need, but all the other schools are using the cash to lure the best qualified applicants to their programs.
The payoff of an M7 education is indisputable. There are few educational degrees that pay off as quickly as an MBA from one of these top schools and, more importantly, builds on its value over the course of a career. The first-year compensation package for M7 grads tends to be well above $150,000, once you include a sign-on bonus, other year-end compensation, and possible stock options and perks that schools don’t even bother to tally.
Just a marketing school? Not anymore: Kellogg School of Management sent 28% of its latest graduating class into tech. Kellogg photo
Industry Choices Of M7 Grads
What industries are M7 grads choosing? The answers may not surprise you, but the snapshot gives an idea of each school’s culture.
How satisfied are graduates of online MBA programs with their experiences? You can tell by how much they give back. Or you can read about the results of our most recent alumni survey.
DON’T MISS M7 SCHOOLS: THE DATA IS IN & THEY REMAIN MAGNIFICENT or HOW MUCH DOES A TOP MBA NOW COST? NINE SCHOOLS ARE IN THE $200K CLUB
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This Small 1-Year MBA Program May Have The Best ROI In Europe - Poets&Quants
Lancaster University Business School topped our list of one-year MBA programs in Europe for ROI. Lancaster MBAs say they pay back their loans in a relatively short 2.7 years. Lancaster photo
The fundamental question facing everyone considering an MBA: Is it worth it? MBAs are expensive, and students need to be convinced that they will get a good return on their investment. So which are the top business schools in Europe for ROI? Poets&Quants crunched the numbers and came up with some interesting results that could guide potential students’ decision making.
We took the self-reported salaries of graduates three years after graduation from The Financial Times’ full-time MBA ranking, then we found out the cost of an MBA in the year those students took it. By dividing one by the other, we calculated the cost-to-earnings ratio. And because we thought it was also relevant, we then looked at how long graduates say it took them to pay back their MBA loans. That figure was taken, when available, from the Forbes full-time MBA list.
We should note that this is a survey, not a ranking. The point is not to rank the schools from best to worst, but simply to give potential MBA students an idea of the range of ROI, what drives it, and whether it is an important measure for them. We chose 10 top-notch European schools of various sizes from a range of countries, all with one-year full-time MBAs — which means that top European schools that have longer courses such as London Business School, HEC, ESADE, and IESE are excluded.
As a guide to what follows, it might be useful to take a look at the statistics for London Business School, which often tops the rankings for European schools. Its MBA can be taken over 15, 18 or 21 months, so it is tricky to compare to others. Given that the three-year salary figure was a pretty high $167,897, that gave a course-cost-to-earnings ratio of 2.1. It took LBS students 3.4 years to pay back their loans, the highest of any of the MBAs we looked at, though that could be in part be because of the high cost of renting in London.
A PAIR OF NORTHERN ENGLAND SCHOOLS
Lancaster University Business School, on the edge of the Lake District in the north of England, was top of our list, with a multiple of 3.2. Lancaster MBAs say that they pay back their loans in a relatively short 2.7 years. Next were Mannheim (Germany) and Durham (also in the north of England), with a ratio of 2.9. Cambridge University’s Judge Business School was a whisker behind them with a ratio of 2.8. Mannheim’s students took a relatively long three years to pay back loans, significantly above Judge’s 2.4. We do not have a figure for Durham.
ESMT, based in Berlin, Germany, came next, at 2.5, followed by INSEAD with a ratio of 2.6. This 10-month MBA also had the highest salary on our list, at $177,157, which justifies the high cost, while EDHEC (France), Bocconi (Italy), and Imperial (England) were clustered below them, at a ratio of 2.3. Imperial students took 3.1 years to pay off their debt, compared to just 2.2 years for Bocconi’s and EDHEC’s MBAs. The figure for ESMT is unavailable.
Copenhagen School of Business, in Denmark, had the lowest three-year salary on our list, at just $91,000. An MBA cost of $48,000 meant that this MBA had a ratio of 1.9. Swiss school IMD, in Lausanne, had both the highest cost for an MBA in our list, at $85,000, and the highest three-year salary of $156,908. That gave it a ratio of just 1.8. However, that might be a misleading figure. IMD came top of Forbes’ best MBA rankings in 2017, which measures salary five years after graduation. IMD students also took the second-least time to pay off their loans, at 2.3 years. IMD is famous for executive education, so it is possible that lots of firms are helping students with their fees. We don’t know the payoff time figure for Copenhagen.
CHEAPER MBAs = GREATER ROI
What does this research tell us? The first conclusion we can draw is that cheaper MBAs often have a greater financial ROI, at least in a three-year time-frame. The schools with the biggest ratios have relatively low-cost MBAs. Durham’s, for example, costs just $35,900, while Lancaster’s costs $33,000.
Among all 10 schools, the average reported salary three years after graduation was a relatively low $104,000. Market forces are clearly at work here; a target salary of just over $100,000 is only attractive — or financially feasible — if you are paying less for the qualification. Copenhagen is possibly an exception, for reasons we’ll come to.
The second conclusion is that exchange rates make a difference. (Note that all costs were converted to dollars at the time of writing, early December 2018.) All the UK-based schools in our list had good ratios, and that is largely an effect of the weak pound. British schools such as Judge, Durham, and Lancaster were historically not the bargains they are right now, and a stronger pound would have reduced their ratios.
Many students have told Poets&Quants that sterling’s weakness has made UK institutions attractive, but most say that they see the current cheapness as an additional benefit, not a reason to choose a UK school. If value for money is a factor for a particular student, then perhaps it ought to be a bigger consideration right now – especially if they plan to move into the EU or elsewhere after studying in the UK, rather than earn in pounds.
CAVEATS & OTHER CONSIDERATIONS
The third conclusion we can draw is that the biggest ratios are found at less well-known schools. That could be because people with lower starting salaries tend to go to those schools, then move into higher-paying jobs, for example in consultancy. It is obviously unlikely that if you work in banking an MBA will increase your salary by a multiple of five — but if you are a school teacher, that outcome is more likely. It is possible that other small schools not included in our list also have high multiples.
In fact, it’s more than possible that for the reason above, less well-known schools generally have higher multiples. Small classes at some schools (Lancaster has about 40, Durham around 45) also mean that a few high-salaried graduates could distort the picture. A big-name school like INSEAD or LBS might be better for your personal brand, but if ROI matters — or if you do not have the GMAT score to get into a big-name school — then a smaller one could offer real monetary benefits.
As mentioned, to make comparison easier we have only included one-year MBAs. A 12-month course has benefits in terms of ROI, of course. The opportunity cost in terms of lost salary is lower than with a conventional U.S. two-year MBA. U.S. MBAs tend to have lower three-year multiples than European ones for that reason, and obviously it takes longer to pay back loans.
Copenhagen School of Business had the lowest three-year salary on our list of 10 European one-year MBA programs, at just $91,000. Copenhagen photo
PAYBACKS ON TWO-YEAR MBA PROGRAMS ARE OBVIOUSLY LONGER
Students from European schools with two-year MBAs obviously take longer, on average, to pay back their loans. HEC’s MBAs take 3.3 years, LBS students report an average of 3.4 years, IESE’s number is 3.5 years, and at ESADE, the magic number is 4 years. However, those schools’ three-year salaries are relatively high: LBS’s was $167,897, IESE’s was $148,480, ESADE’s $143,542, while HEC’s was $135,858. That might look attractive, but the high cost could in some senses restrict graduates, who need to go into high-paying jobs to pay off their loans whether they want to or not. It is arguable that a cheaper MBA leaves you with more options.
Obviously, our list has its limitations. You might argue the three-year time-period is too small to measure the real value of an MBA. That is possibly true, especially for schools that churn out a lot of entrepreneurs, who will tend to have small earnings for the first few years out of B-school while they establish their businesses. For example, 17% of students from Imperial’s most recent cohort founded their own businesses straight after their MBA, capitalizing on the school’s proximity to cutting-edge scientific know-how and London’s capital markets. Those people’s wealth might not be best measured in salary, but in shares or the future value of their business once it is sold. The low salaries at start-ups could also explain why Imperial students, for example, took the longest to pay back their loans of the schools we looked at, at 3.1 years.
Copenhagen’s low ratio has other causes. The school is famous for concentrating on sustainability, so its students are presumably not chasing top-dollar in their post-MBA careers. Its other focus is entrepreneurship, which must also depress the salary figure. The low ratio certainly doesn’t mean students are not getting what they want.
MONEY ISN’T EVERYTHING — BUT IT IS SOMETHING
This all begs the question: What does ROI really mean? As in all such lists, we have measured only the measurable, but other things matter, too. EDHEC boasts that “many of our alumni point to non-tangibles when reflecting on the return on investment” — for example, an extremely diverse MBA cohort which students “gain both experience dealing with diverse cultures and backgrounds and build a vibrant global network of friends and professionals for life.” In EDHEC’s last MBA class, 33% made the triple jump, and 52% found work outside their home country on graduation. All of these things are common non-monetary aims.
At Mannheim, they talk about “ROI in a wider sense” and point out that their learning is based on “multi-competence teams,” meaning students see greater development of their interpersonal and team-working skills. The ability to spend three months overseas at a partner school is also a potentially life-changing and enriching experience that goes beyond crass monetary considerations. At Lancaster they aim to produce “mindful managers” who are thoughtful — another aim that might not necessarily translate into great riches.
“Often people do an MBA because they are looking for change,” says Matt Symonds, co-founder of Fortuna Admissions. “That is a very nebulous thing and almost impossible to quantify. Unlike other post-graduate programs, the idea of doing an MBA is to fundamentally explore and try new things.” Symonds adds that many young people now have “a sense of purpose” and value that above cash.
When choosing your MBA, there are lots of things to consider. Money isn’t everything. But it is something.
DON’T MISS MBA ACCEPTANCE RATES AT TOP EUROPEAN BUSINESS SCHOOLS and AVERAGE GMAT SCORES AT THE TOP 20 EUROPEAN BUSINESS SCHOOLS
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MIT Sloan Joins Deferred Admission Bandwagon - Poets&Quants
MIT sloan School of Management (Photo by John A. Byrne)
Following in the footsteps of Harvard Business School’s 2+2 deferred admissions program, MIT’s Sloan School of Management has begun its own MBA early admission initiative for college seniors. Students accepted for MIT Sloan will work two to five years after graduating from college before matriculating into the full-time MIT Sloan MBA Program.
Similar programs are now in place at Stanford, Yale’s School of Management, and the University of Virginia’s Darden School of Business, among others. Last year, Columbia Business School said it, too, would add a deferred admissions program (see CBS Plans Deferred MBA Admissions). At HBS, more than 1,100 candidates apply under 2+2 each year (see HBS 2+2: A Low-Risk Way To Get Into Harvard Business School?)
In 2017, Wharton joined the deferred bandwagon, announcing the Moelis Advance Access Program, for University of Pennsylvania undergrads only (see Wharton’s New Deferred MBA Admit Program). The school said its new deferred-admission pathway will focus on Penn undergraduates with non-traditional academic backgrounds who can defer admission for between two and four years. Chicago Booth’s deferred admit program is also limited to seniors at the University of Chicago who, if accepted, can defer enrollment for three years.
The University of Virginia’s Darden School of Business launched a deferred option in 2016 called Future Year Scholars Program aimed at top college seniors or fifth-year master’s degree students. Admitted scholars may choose to begin their MBA after gaining two, three, or four years of work experience. At Darden, there are additional incentives for accepted applicants, including a scholarship of $15,000 per year of study at Darden, eligibility for additional scholarships and early access to the Darden network of over 15,000 alumni, among other benefits.
“MIT Sloan MBA Early Admission provides an exciting opportunity for undergraduate seniors to set a future path for themselves at MIT Sloan,” says Rod Garcia, assistant dean of admissions at MIT Sloan. “There is increasing market demand for this type of early admission among MIT undergraduate students and top students around the world. This is a very positive addition to our offerings.”
SLOAN VIEWS IT AS A VALUABLE RECRUITING TOOL
Assistant Dean of Admissions Dawna Levenson agrees. “This is a wonderful new option for prospective students who want to proactively manage their future and make a difference. These are students who have already demonstrated the potential to be principled and innovative leaders who will make a positive impact on the world.”
She notes that MIT Sloan MBA Early Admission is a valuable recruiting tool for MIT Sloan, as several other top business schools offer similar admission options. “We want to increase MIT representation in our own MBA program, and recruit qualified college seniors from other colleges to MIT Sloan as early as possible.”
MIT Sloan senior Elena Alberti says, “As I was finishing my undergraduate experience, I realized that applying to Sloan through MIT Sloan MBA Early Admission was an obvious next step. I have interacted with many MBAs at Sloan and they all have a wealth of different backgrounds that they use to create a formative experience for their fellow classmates. I wanted to be able to learn from these backgrounds and experiences, so that I can grow further.”
APPLICATION DEADLINE FOR DEFERRED ADMISSION IS APRIL 8
The MIT Sloan MBA Early Admission is currently open to enrolled students who will complete their bachelor’s or first degree by July 2019 and plan to work full-time for two to five years after graduation. The application deadline is Monday, April 8, 2019, the day before the HBS 2+2 deadline this year. Slaon says that applicants will be notified of decisions on Wednesday, May 8, 2019.
“We’re looking for students who have demonstrated leadership and an impact on their community, whether it is in the classroom, clubs, athletics, or internships. Thriving in a collaborative team environment, these are students from a diversity of majors who will enhance the MIT Sloan community with their intellectual abilities, drive and experiences,” says Levenson, noting that the application fee is waived for all MIT Sloan MBA Early Admission applicants.
To apply, students must submit a cover letter, resume, video statement, academic transcripts, two letters of recommendation, and test scores. However, the GMAT/GRE is not required for current MIT students who meet the eligibility requirements. Interviews are required and will be scheduled by invitation only after an initial evaluation of a complete application.
To learn more, prospective applicants are invited to a Virtual Information Session on Friday, January 25, 2019 at 1:00 pm ET – 2:00 pm ET. Representatives from the MBA Admissions team will discuss what makes MIT Sloan distinctive, the MBA Program, and the application process.
DON’T MISS: HBS 2+2: A LOW-RISK WAY TO GET INTO HARVARD BUSINESS SCHOOL? or
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Tuesday, January 15, 2019
What MBAs Earn At Top Consulting Firms in 2019 - Poets&Quants
Grappling with whether to pursue an MBA or stay at your job? If you’re weighing a career in consulting, the answer is definitive: Get an MBA.
That’s what the data reflects in the 2019 edition of Management Consulted’s “Management Consulting Strategies for Undergraduates, MBAs/PhDs & Interns” (Released January 14th). How stark is the difference? According to Management Consulted’s latest data, the average starting base pay for a newly-minted undergraduate or master’s degree holder is $80,000. For an MBA or PhD, that number is nearly double: $150,000.
That’s just start. An MBA grad’s one-time signing bonus comes in at roughly $25,000, five times what an undergraduate degree nets. When performance bonus is added to the mix, the difference is equally staggering: $44,000 vs. $12,000 in favor of MBAs.
FRUITS OF RISING REVENUE GOING MORE TO MBAs
That was a macro look at industry pay from Management Consulted, a leading resource for consulting-related data and news that also offers intensive coaching in areas like interview and resume preparation. The salary data stems from hundreds of confirmed offer letters from candidates and clients alike, says Jenny Rae Le Roux, a former Bain consultant and Columbia Business School MBA who serves as the firm’s managing director. The data also includes information that arrives directly from consulting firms, though the specific response numbers and overall process are treated as proprietary information.
According to the report, the pay gap between MBAs and undergrads is also widening in consulting. In the analysis that accompanies the 2019 data, Management Consulted notes that the MBB (McKinsey, Bain, BCG) has boosted starting pay for MBAs and PhDs to $165,000 over the past year, thanks to competitive pressures like higher client expectations for “digital solutions, advanced analytics and analytics” and competitive threats from boutique shops and technological firms. Although the consulting industry has seen revenues rise from 5% to 16% over the past year, the pay for new hires from the undergraduate and master’s degree pool has stagnated.
To an extent, this trend stems from how differently consulting firms value the experience MBAs and undergrads brings to their firms, says Le Roux in an exclusive statement to Poets&Quants.
Management Consulted’s Jenny Rae Le Roux
“The intangible value prop of a consulting education is still more differential for someone with less work experience (undergrad/Masters) – it’s his or her first brand name, c-suite exposure, analytics training, and travel. Plus, it comes with the potential for MBA sponsorship. MBAs – many of whom have already had those things – are making more focused career choices. Many of the things they want then –lifestyle, specific cities, accelerated promotions, managerial experience, etc. – come as adequately in tech as in consulting. In short, the market for MBAs is more competitive and their values are different.
A SHORT-TERM PAY SPIKE
In fact, MBAs are so valuable that they earn roughly the same starting pay as PhDs. At the same time, consulting firms often lump Master’s degree holders with undergrads on pay scales. That is changing, as consulting firms are beginning to seek out candidates with greater experience or technical skills in areas like data science. The process, Le Roux admits, is slow.
“Some firms may have special practices that will treat them slightly differently, but in general no. They (MBA/Ph.D. and Undergrad/Master’s) come in at equivalent levels based on their years of work experience. This is not a change from 2018-2019, but standard consulting industry practice.”
While MBA pay jumped substantially in 2018, Le Roux believes the year was an outlier, with MBA pay growth cooling in coming years.
“We anticipate standard inflation increases for undergrads, and the same for MBAs,” she points out. “The MBA jump is a one-time jump to catch up to tech, and the largest we’ve seen in the 10 years we’ve been covering salaries. These kinds of annual pay increases would be a losing battle for firms unless their per-project fees or utilization rates really continue to leap (which we do not expect).”
BASE PAY ISN’T THE ONLY KEY FACTOR
Perhaps the greatest value from the Management Consulted data is derived at the more granular level. Notably, the annual survey breaks pay down by company. Instead of a lump sum, pay is parsed down to areas like base pay, performance bonus, and signing bonus – not to mention allowances, retirement, relocation, travel bonus, and tuition reimbursement when applicable.
For undergrads, the most recognizable names don’t always pay the most. AArete, an analytics oriented firm with six locations in the United States and United Kingdom, pays an $112,000 base to start. Compare that to big name rivals like the Boston Consulting Group ($90K), Accenture, Bain, and McKinsey ($85K), and PwC, KPMG, and A.T. Kearney ($75K). While AArete doesn’t offer a one-time signing bonus, it does provide a performance bonus of $16,000 – a number that tops McKinsey ($15K) and Bain (12K). The highest performance bonus? That belongs to PwC at $18,750. This gives PwC a huge advantage over Deloitte, which doesn’t offer a performance until after a consultant passes the three year mark.
Of course, base and bonus are only part of the equation. For many undergrads, the pay package is the best gauge of company fit. Looking for a company that’ll invest in your retirement? Bain will pour 4.5% of base and bonus into a 401K without requiring any contribution. Huron provides $5,000 in stock to new undergraduate hires – and will match 25% of any personal investment up to $20,000. A.T. Kearney offers profit sharing up to $7,000 – and re-location up to $10,000. While consulting demands long hours, Mercer pays out 1.5 times base pay when their consultants work over 40 hours. At West Monroe Partners, graduates pull down an additional $4,000 for every 30 nights on the road.
McKinseyites hamming it up after work.
HIGHEST PAY IS $170K FOR MBAs
Impressed? Just wait until you get a load of the MBA perks. Worried about tuition? Accenture and AlixPartners are happy to help out, with each covering $80,000. For those interns who return to Deloitte S&O, the company will cover their second year tuition. A.T. Kearney and Bain will each chip in $8K to a consultant’s 401K – and BCG will raise you to $10,260, Then again, ECG Management Consultants pays $14,950 into each retirement account. That pales in comparison to L.E.K., which makes a hard-to-beat $30,000 contribution into retirement and profit sharing per consultant.
That doesn’t count regular pay, where the highest bases are reported by Parthenon-EY hires at $170K to start. The next rung begins with a $165K base, which includes MBAs from McKinsey, Bain, BCG, and AlixPartners. The latter also earmarks the highest performance bonus at $60K, with OC&C ($50K) and Strategy& ($49.5K) also falling on the generous side. Then again, Accenture Strategy dangles a $30K performance bonus for all first year employees out an MBA program, with another $15K budgeted for “top performers.”
When it comes to signing bonuses, Accenture Strategy is equally competitive, with a $25K bonus plus an additional $17.5K for returning interns. L.E.K. offers a similar package: $25K for every MBA and another $25K for interns who come back. Alas, KPMG just makes it simple: up to $35K when you sign the dotted line.
AN ASTERIK COMES WITH SOME PAY NUMBERS
Of course, Management Consulted is careful to point out that these packages come with caveats. For one, performance bonuses are generally only conferred to the top 5%-10% of consultants. “Average performers often receive bonuses closer to half of the maximum amount, while poor performers typically only receive a small bonus if any,” the report notes. “Also, firms that pay overtime may choose not to offer a performance bonus.” Many packages, particularly from MBB, are also tendered with little room for negotiation.
The report adds that firms like L.E.K. pay bonus out in increments over years. Not surprisingly, pay is often tagged to nation, with American consultants often raking in better packages due to competition from finance and tech firms. Cost of living is another factor, where consultants in metros like New York City and San Francisco will be paid a little more to cover the costs.
While the competition is still fierce for consulting talent, Le Roux admits that firms are relying on a proven formula to land their choice candidates. “[It is] many of the same elements: firm-to-firm, they focus on culture, lifestyle, and work process differences. In consulting vs. non-consulting firms, consulting firms push analytics insights training, career acceleration, C-level impact, and the power of the lifetime network.”
The career and pay progression in consulting doesn’t hurt, either. According to the report, MBAs can expect a 10%-20% annual increase in base pay and performance bonus each year. What’s more, consultants enjoy big jumps in pay with each career step, which often come in 2-3 year increments (with Management Consulted citing the move from associate to consultant at BCG, which is accompanied by a doubling of base salary).
What does this mean in real numbers for MBAs? After notching a promotion to manager after 2-3 years, base pay rises to the $190K-$210K range, which is accompanied by an $80K-$120K bonus. After the 4-5 year mark, MBAs can make associate principal, a rank with $230K-$300K in base pay and bonuses pegged from $110K-$200K. As a junior partner – a step that’s an option after 6-8 years – pay balloons to $320K-$400K. This is also a time when bonus ($300K-$500K) can actually eclipse base. After a decade or more, a senior partner can pull down a cool million a year between base ($400K-$600K) and bonus ($500K).
Alas, few consultants make it to senior partner, Management Consulted observes, due to the up-or-out nature of the industry. Still, the report found that MBAs who left consulting still received a 12%-20% bump in pay. However, that doesn’t mean consulting doesn’t have drawbacks – aside from the long hours and travel, that is. Notably, financial services pays more, with tech firms becoming increasingly competitive in this space. While consulting remains on solid ground, MBAs can expect the tech industry to pose a greater allure when it comes to stability.
“Consulting still offers an incredible starting or re-starting point to any career – the value proposition has remained unchanged,” adds Le Roux. “However, lifestyle competition from tech firms (you’re home more with tech firms) – and no stock compensation from consulting firms – mean that more MBAs in particular are jumping into tech right away rather than consulting first and tech later.”
Want to know how much you’re worth? Check out the data below.
Page 3: Differences in undergrad and MBA pay between 2018 and 2019.
Page 4: A look at how undergrad and MBA pay has changed over the past four years.
Page 5: Internship Pay.
Page 6: Detailed pay data by firm for MBAs.
Page 7: Detailed pay data by firm for undergrads.
DON’T MISS: THE BEST CONSULTING FIRMS TO WORK FOR IN 2019
THE TOP FEEDER BUSINESS SCHOOLS TO THE CONSULTING INDUSTRY
Bain consultants meeting in a lobby
BCG’s new New York office at 10 Hudson Yards – overlooking the Hudson River. Photo by Anthony Collins
A.T. Kearney consultant meeting in the New York office
Undergraduate/Master’s Program Internships
Accenture Strategy: $32/hr + $2,000 signing bonus and overtime
A.T. Kearney: $12,000
Bain: $15,000 (10 weeks)
BCG: $15,000 (10 weeks)
Deloitte: $35/hour + overtime (10 weeks)
EY: $30/hour + overtime
Huron: $21/hour ($2,000 signing bonus)
IMS Consulting Group: $12,000
Insight Sourcing: $1,100/week
KPMG: $29/hour
L.E.K.: $12,000
McKinsey: $15,000 (10 weeks)
OC&C: $12,770 (8 weeks)
Oliver Wyman: $11,750 + $2500 signing bonus (9 weeks)
PwC: $39/hour (Hong Kong: HK$7000/month)
Strategy&: $38/hour
ZS Associates: $5,000/month
MBA/PhD Program Internships
AT Kearney: $12,000/month
Bain: $32,000 (10 weeks)
BCG: $32,000 (Canada: C$4000/week)
Deloitte: $30,000 + full 2nd year MBA tuition for returning interns
EY: $27,500 ($11,000/month for 10 weeks)
IBM: $25,000 + $4,500 relocation (10 weeks)
IMS: $11,500/month + $5,000 signing bonus
L.E.K.: $3125/week (9 weeks) + up to $25,000 tuition reimbursement for returning MBA interns
Kalypso: $25,000 ($10,000/month for 10 weeks)
KPMG: $66/hour ($99/hour for overtime, 10 weeks)
McKinsey: $32,000 (10 weeks)
Parthenon-EY: $27,000 + $5,000 signing bonus (for 10 weeks)
PwC: $12,000/month
Simon & Kucher: $12,000/month
Strategy&: $12,000/month
ZS Associates: $11,500/month + $5,000 signing bonus
Bain consultants kicking back after another productive day.
Salaries for Incoming MBA/PhD Full-Time Hires
- Base: $150,000 (Canada: C$135,000)
- Performance Bonus: up to $30,000
- Total Cash (sum of above): up to $180,000
- Retirement: 6% match for 401k
- Tuition Reimbursement: up to $80,000 ($50,000 after taxes)
- Signing Bonus: $35,000 (Canada: C$25,000)
- Relocation: up to $10,000
- Base: $165,000
- Performance Bonus: up to $60,000
- Total Cash (sum of above): up to $225,000
- Retirement: 6% match for 401k
- Tuition Reimbursement: up to $80,000 ($50,000 after taxes)
- Signing Bonus: $25,000 (Canada: C$25,000)
- Relocation: up to $10,000
- Base: $158,000 (Germany: €85,000)
- Performance Bonus: up to $44,100 (Germany: up to €16,000)
- Total Cash (sum of above): $191,100
- Retirement: 401k contribution up to $8,000
- Signing Bonus: $25,000 (plus $10,000 for summer interns)
- Relocation: up to $10,000 (Germany: up to €5,000)
- Base: $165,000 (UK: £85,000) (Thailand: ฿3,600,000)
- Performance Bonus: up to $41,250 (Thailand: up to ฿700,000)
- Total Cash (sum of above): up to $206,250
- Retirement: 401k contribution up to $8,000
- Signing Bonus: $25,000 (Thailand: ฿980,000)
- Relocation: up to $5,000 (Thailand: ฿230,000)
- Base: $165-170,000 (UK: £90,000)
- Performance Bonus: up to $45,000 (UK: up to £25,000)
- Total Cash (sum of above): up to $215,000
- Retirement: $10,260 into 401k
- Signing Bonus: $25,000
- Relocation: $2-8,000
- Base: $140,000 (Middle East)
- Performance Bonus: up to $35,000 (25% of base; Middle East)
- Allowances: 40% of base ($56,000) only paid to Dubai/Abu Dhabi/Doha | 30% for Riyadh
- Total Cash (sum of above): up to $231,000 (Dubai, Abu Dhabi, Doha). Up to $217,000 (Riyadh)
- Relocation: up to $25,000 (Middle East)
CCG Catalyst Consulting Group
- Base: $150,000
- Performance Bonus: up to $15,000
- Total Cash (sum of above): up to $165,000
- Retirement: 5% match for 401k
Cognizant Business Consulting
- Base: $115-125,000
- Performance Bonus: up to $10-15,000
- Total Cash (sum of above): up to $140,000
- Signing Bonus: $20,000 (Dubai: $30,000)
- Relocation: up to $6,000
- Base: $140-150,000 (Canada MBA: C$125,000)
- Performance Bonus: up to $45,000
- Total Cash (sum of above): $195,000
- Retirement: 25% match of first 6% into 401k (a total of 1.5%)
- Tuition Reimbursement: Full 2nd year tuition for returning interns
- Signing Bonus: $15-25,000 (additional $17,500 for returning interns, $20K early signing) (Canada: C$20,000)
- Relocation: up to $10,000
Ernst & Young
- Base: $150,000 (UK: £85,000) (Hungary: Ft560,000)
- Performance Bonus: up to $10,000 (UK: up to 20%) (Hungary: up to 8%)
- Total Cash (sum of above): up to $160,000
- Retirement: Match up to 6%
- Signing Bonus: $25,000 (UK: £15,000)
- Relocation: up to $5,000
- Base: $150,000
- Performance Bonus: up to $15,000
- Total Cash (sum of above): up to $165,000
- Signing Bonus: $25,000 (additional $15,000 for returning interns)
- Relocation: up to $6,500
- Base: $130,000
- Performance Bonus: up to $16,250
- Total Cash (sum of above): up to $146,250
- Signing Bonus: $25,000
- Relocation: up to $8,000
- Base: $122,500
- Performance Bonus: up to $25,000
- Total Cash (sum of above): $147,500
- Signing Bonus: $20,000
- Relocation: up to $3,000
- Base: $124,000
- Performance Bonus: up to $15,000
- Total Cash (sum of above): $139,000
- Signing Bonus: $15,000
- Relocation: up to $3,000
- Base: $150,000 (India: 2,100,000 INR)
- Performance Bonus: up to $25,000 (India: up to 400,000 INR)
- Total Cash (sum of above): up to $175,000
- Signing Bonus: up to $35,000
- Relocation: up to $5,000
- Base: $150,000
- Performance Bonus: up to $25,000
- Total Cash (sum of above): up to $175,000
- Retirement & Profit Sharing: up to $30,000
- Signing Bonus: $25,000 (additional $25,000 for returning interns)
- Relocation: up to $5,000
McKinsey & Company
- Base: $165,000 (UK: £90,000) (Germany: €105,000)
- Performance Bonus: up to $35,000
- Total Cash (sum of above): up to $200,000
- Retirement: 7.5% into 401k
- Signing Bonus: $30,000 (Germany: negotiable)
- Relocation: $2-9,000 (Germany: negotiable)
- Base: $110,000
- Performance Bonus: up to $22,000 (20% of base)
- Total Cash (sum of above): up to $132,000
- Signing Bonus: $20,000
- Relocation: up to $3,000
- Base: $146,000
- Performance Bonus: up to $50,000
- Total Cash (sum of above): up to $196,000
- Retirement: 401k – up to 3.5% match at start of 2nd year
- Signing Bonus: $25,000
- Base: $145,000
- Performance Bonus: up to $36,250
- Total Cash (sum of above): up to $181,250
- Retirement: 401k – up to 3.5% match at start of 2nd year
- Signing Bonus: $20,000
- Base: $170,000
- Performance Bonus: up to $9,000
- Total Cash (sum of above): up to $179,000
- Signing Bonus: $35,000
- Relocation: up to $2,000
- Base: $145,000
- Performance Bonus: up to $29,000
- Total Cash (sum of above): up to $174,000
- Signing Bonus: $30,000
- Relocation: up to $2,000
Roland Berger
- Base: £78,000 (UK)
- Performance Bonus: up to £23,400
- Total Cash (sum of above): up to £111,400
Samsung Global Strategy Group
- Base: $167,000 (based in Seoul)
- Performance Bonus: up to $33,400
- Total Cash (sum of above): up to $200,400
- Starting Bonus: $40,000
- Relocation: Included in starting bonus
- Base: $140,000
- Performance Bonus: up to $35,000
- Total Cash (sum of above): up to $175,000
- Starting Bonus: $20,000
- Relocation: up to $3,000
- Base: $150,000 (Ongoing internal discussions to raise this)
- Performance Bonus: up to $49,500
- Total Cash (sum of above): up to $199,500
- Retirement: 4% automatic (no match required); 25% match up to 6% in a separate account
- Signing Bonus: $30,000
- Relocation: up to $3,000
McKinsey consultants in the Sao Paulo office
Salaries for Incoming Undergraduate/Master’s Full-Time Hires
AArete
- Base: $112,000
- Performance Bonus: up to $16,000
- Total Cash (sum of above): up to $128,000
- Retirement: 3% match for 401k
- Base: $85,000 (Canada: C$75,000)
- Performance Bonus: up to $8,500 (10% of base)
- Total Cash (sum of above): up to $93,500
- Retirement: 6% match for 401k after 1st year
- Stock: 15% discount of Accenture stock
- Signing Bonus: $10,000 (Canada: C$10,000)
- Relocation: up to $5,000
- Base: $65-82,000
- Performance Bonus: up to $16,400 (uncapped bonus if in restructuring/turnaround group)
- Total Cash (sum of above): up to $98,400
- Signing Bonus: $5-10,000
- Base: $75,000 (Canada: C$70,000)
- Performance Bonus: up to $15,000 (20% of base in US and Canada)
- Total Cash (sum of above): up to $90,000
- Retirement: 6% match for 401k
- Profit Sharing: up to $7,500 (10% of base depending on firm performance)
- Signing Bonus: $5,000 (Canada: C$5,000)
- Relocation: up to $10,000 (Canada: up to C$10,000)
- Base: $66,000
- Signing Bonus: $4,000
- Base: $85,000 (UK: £45,500)
- Performance Bonus: up to $12,000
- Total Cash (sum of above): up to $97,000
- Retirement: 4.5% of base + bonus into 401k, no contribution required
- Signing Bonus: $5,000 (UK: £3,000)
- Relocation: $5,000
- Base: $90,000 (Canada: C$82,000) (Aus: A$67,000) (Germany: €68,500)
- Performance Bonus: up to $16,800
- Total Cash (sum of above): up to $106,800
- Retirement: Profit sharing deposited into 401k account
- Profit Sharing: up to $4,400
- Signing Bonus: $5,000 (Canada: C$8,000) (Aus: A$15,000)
- Relocation: $2-8,000 (Germany: €3-10,000)
- Base: $75-101,000 depending on experience (Dubai, Abu Dhabi, Doha, Beirut, Riyadh: $60-80,000)
- Performance Bonus: $6,060-11,250 (Dubai, Abu Dhabi, Doha, Beirut, Riyadh: $9-12,000)
- Allowances: 40% of base paid in Dubai/Abu Dhabi/Doha; 30% in Riyadh
- Total Cash (sum of above): up to $112,250
- Retirement: 6% match for 401k (Dubai, Abu Dhabi, Doha, Beirut, Riyadh: 1 month of latest salary per year of service)
- Relocation: up to $5,000 (Dubai, Abu Dhabi: up to $15,000)
Cognizant Technology Solutions
- Base: $65,000
- Performance Bonus: up to $3,000
- Total Cash (sum of above): up to $68,000
- Retirement: 50% 401k match for first 6% of salary (after 1st year)
- Signing Bonus: $5,000
- Retention Bonus: $5,000 (after 1st and 2nd years)
- Base: $82,500
- Performance Bonus: up to $8,250 (10% of base)
- Total Cash (sum of above): up to $90,750
- Retirement: 50% match for first 6% of individual contributions in 401k
- Signing Bonus: $12,500
- Relocation: 100% of moving expenses; 4 nights in hotel while house hunting; all broker fees
- Base: $80-94,000 (Canada: C$70,000) (UK: £39,500) (Germany: €50,500) (NZ: NZ$47,000)
- Performance Bonus: Only after 3rd year (15% of base) (Canada: up to 10%) (UK: up to 5%)
- Total Cash (sum of above): up to $80-94,000
- Retirement: 25% match for first 6% of individual contributions in 401k
- Signing Bonus: $12,500 (Canada: C$5,000) (NZ: NZ$2,000)
Ernst & Young
- Base: $75,000 (Canada: C$65-70,000)
- Performance Bonus: None (1.5x overtime pay instead)
- Total Cash (sum of above): $75,000 + overtime
- Retirement: 6% match of base into 401k
- Signing Bonus: $3-7,500
- Relocation: up to $2,000
- Base: $68,000
- Performance Bonus: up to $10,000
- Total Cash (sum of above): up to $78,000
- Signing Bonus: $7,000
- Relocation: up to $1,000
Huron
- Base: $67-72,000
- Performance Bonus: up to $7,200 (10% of base)
- Total Cash (sum of above): up to $79,200
- Retirement: 6% match of base into 401k
- Stock: $5,000 (25% match of personal investment up to $20,000)
- Signing Bonus: $5,000
- Travel Bonus: up to $3,750 (typically $3,000)
- Relocation: up to $2,000
- Base: $75,000 (Canada: C$68,000)
- Performance Bonus: up to $8,400 (12% of base)
- Total Cash (sum of above): up to $83,400
- Retirement: 5% match of base into 401k
- Signing Bonus: $7,000 (Canada: C$5,000)
- Relocation: up to $3,000
- Base: $68,000 (Canada: C$62,000) (UK: £32,000)
- Performance Bonus: up to $8,160
- Total Cash (sum of above): up to $76,160
- Signing Bonus: Rare
- Relocation: up to $2,000
- Base: $74,000
- Performance Bonus: up to $14,800 (20% of base)
- Total Cash (sum of above): up to $88,800
- Signing Bonus: $7,500
- Relocation: up to $2,500
- Base: $85,000 (AUD: A$86,000) (Canada: C$82,500) (Germany: €67,000) (UK: £43,000) (Taipei: $38,876)
- Performance Bonus: up to $15,000 (Australia: up to A$15,000) (Taipei: up to $5,000)
- Total Cash (sum of above): up to $100,000
- Retirement: $7,500 (Canada: C$10,000 to RRSP)
- Signing Bonus: $5,000 (Canada: C$5,000) (UK: £$3,000) (AUD: A$2,000)
- Relocation: $2-10,000 (Germany: €3-€5,000)
- Base: $68,000 (Canada: C$55,000)
- Performance Bonus: No bonus, instead 1.5x pay for hours over 40/week
- Total Cash (sum of above): $68,000 + overtime
- Signing Bonus: $3,000
- Relocation: up to $2,000
Navigant Consulting
- Base: $72,000
- Signing Bonus: $6,000
Novantas
- Base: $72,000 (Canada: $72,000 CAD)
- Performance Bonus: up to $14,400
- Total Cash (sum of above): up to $86,400
- Signing Bonus: $5,000
- Relocation: up to $5,000
- Base: $83,000 (UK: £45,000)
- Performance Bonus: up to $20,000
- Total cash (sum of above): up to $103,000
- Signing Bonus: $7,500 (UK: £7,000)
- Relocation: $5,000
- Retirement: 401K – up to 3.5% match at start of second year
- Base: $85,000 (Canada: $75,000) (UK: £43,000) (Amsterdam: €58,000) (Singapore: S$90,000)
- Performance Bonus: up to $16,000 (Amsterdam: up to €27,000)
- Total cash (sum of above): up to $101,000
- Signing Bonus: $10,000 (Canada: C$10,000) (UK: £7,000)
- Relocation: up to $2,000 (Singapore: $10,000)
- Base: $75,000 (Canada: C$65,000)
- Performance Bonus: up to $18,750
- Total Cash (sum of above): up to $93,750
- Signing Bonus: $5,000-7,500
- Relocation: up to $2,000
- Base: $75,000
- Performance Bonus: up to $15,000
- Total Cash (sum of above): up to $90,000
- Signing Bonus: $5,000
- Relocation: up to $3,000
West Monroe Partners
- Base: $77,000
- Performance Bonus: up to $3,850
- Total Cash (sum of above): up to $80,850
- Signing Bonus: $7,000
- Base: $70,000 (Canada: C$75,000)
- Performance Bonus: up to $7,000 (10% of base)
- Total Cash (sum of above): up to $77,000
- Retirement: 3% match for 401k
- Signing Bonus: $6,500 (Canada: C$5,000)
- Relocation: up to $4,000 (Canada: up to C$2,500)
The post What MBAs Earn At Top Consulting Firms in 2019 appeared first on Poets&Quants.
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