Landing a management consultant position at a top firm right out of college can result in a salary package topping $100,000 for the best employees — and more than $200,000 for recent MBAs.
But the first step toward securing such a coveted job is acing the internship. And at many prestigious consulting firms, interns are well compensated from the get-go — especially if they’re working on their MBAs.
Management Consulted, a company that helps candidates land consulting jobs, compiled data on some of the top-paying firms for interns. To determine these figures, it culled through information from clients, spoke with industry insiders, and pored over real offer letters from readers.
With typical internships lasting 10 weeks or more, Management Consulted found that undergraduates can expect to make in excess of $1,000 per week. Meanwhile interns working on their MBAs often command more than twice that amount.
Compensation for consulting interns
Bain & Company
Boston Consulting Group
Undergraduate: $31/hour; $47.50/hour for overtime
MBA: $28,450 + 2nd year MBA tuition reimbursement (up to $50,000)
IMS Consulting Group
Undergraduate: $11,000 + bonus
MBA: $11,250/month + $5,000 signing bonus
MBA: $2,600/week + up to $4,000 performance bonus
McKinsey & Company
Undergraduate: $33.50/hour, $50.25/hour for overtime
MBA: $11,000/month + $5,000 signing bonus