Consulting Salaries and Working Hours Exposed - McKinsey, BCG, Bain, Big 4 etc.

In this video I expose consulting salaries and working hours. Do you know the consulting salaries and working hours at McKinsey, BCG, Bain, the Big 4 firms or any other consulting firm? Based on an exclusive data set collected by Mo Yang from ‪@ConsultingHumor‬, I conduct several analyses on what salaries you can expect in management consulting. Learn about management consulting salary and consulting salary progression from Analyst, to Associate to Project Lead. The consulting work-life-balance can also be tough. This video contains insights how the consulting life in a management consulting career really looks like. How much do consultants make?
Chapters
00:00 Consulting Insights
02:03 Download Full Data Set
02:30 Firms and Regions of Participants
03:06 Consulting Working Hours
04:18 Consulting Salary for Graduates
05:59 Consulting Salary for Associates
06:55 Consulting Salary for Project Leads
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Пікірлер: 207

  • @FirmLearning
    @FirmLearning2 жыл бұрын

    Download the full Consulting Data Set with Salary and Working Hours Insights: link.firmlearning.com/dataset

  • @TheGalo97

    @TheGalo97

    2 жыл бұрын

    Great video Heinrich! The link to download the data set doesn't seem to work anymore...

  • @laupeter4594

    @laupeter4594

    2 жыл бұрын

    What kind of a level are you at if you are an associate partner at EY Parthenon? Is it a salaried partner ? Equity partner ?

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    @@laupeter4594 not 100% sure of EY terminology, but AP is usually a salary partner / one level below equity

  • @doziee.1093
    @doziee.10932 жыл бұрын

    Heinrich never fails in his videos, the clarity and relevance are unmatched. Happy New Year!

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    Thanks for your kind comment and for watching Dozie, much appreciated! Best, Heinrich

  • @iqbalsulthan7616
    @iqbalsulthan76162 жыл бұрын

    Never have I come across a channel so rich with insights and information. Truly appreciate what you do and share!

  • @ProdLeo
    @ProdLeo2 жыл бұрын

    Wow this was actually very insightful, great video as usual, Heinrich!

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    Super happy to hear it is insightful - thank you for watching! Best, Heinrich

  • @carljacobi1998
    @carljacobi19982 жыл бұрын

    Great insights Heinrich! Currently studying in Spain and can definitely confirm your conclusions. From my personal contacts i know that average salary at MMB is in fact significantly lower than in Germany.

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    Hi Carl, thanks for your comment and sharing your insights from Spain. Indeed have hear similar things as well. All the best for your studies! Cheers, H

  • @uzigoat6934
    @uzigoat69342 жыл бұрын

    Fantastic data and presentation, much appreciated!

  • @healthgrowth4968
    @healthgrowth49682 жыл бұрын

    Great video, pretty cool insights, thanks for sharing! :)

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    Thanks for watching :)

  • @Gorlenius
    @Gorlenius2 жыл бұрын

    Very interesting, this is information not available elsewhere. Thanks for creating this video!

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    Agree, the data is pretty coo! Thanks for watching - H

  • @sebikokol4989
    @sebikokol49892 жыл бұрын

    Very insightful! Thank you very much, Heinrich!

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    Glad to hear. Thanks for watching Sebi! Best, Heinrich

  • @Nirbhey
    @Nirbhey2 жыл бұрын

    Brilliant analysis! Thank you for doing it 👍

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    Great to hear - thank YOU for watching Nirbhey! Best, Heinrich

  • @TheAvoHD
    @TheAvoHD2 жыл бұрын

    This was one of the juiciest video you ever published. Cheers mate!

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    Happy to hear it was interesting.. thanks for watching Henry!! Best, Heinrich

  • @shemeeraraother1556
    @shemeeraraother15562 жыл бұрын

    Thank you !! For sharing a big knowledge with us!!!

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    Glad to hear it is helpful. Thank YOU for watching Shemeera! Best, Heinrich

  • @christophergerald8424
    @christophergerald84242 жыл бұрын

    How to say you're poor without saying you're poor: I'm a consultant in Asia. Great work btw, really helpful for some of us to reevaluate some of our life's choices.

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    Glad to hear it is helpful Christopher. Yes can understand your perspective. Obvs living costs are lower though in most Asian countries, as might be taxes (though trust you are well aware). Thanks for watching! Best, Heinrich

  • @HimanshuSharma-oe4mk

    @HimanshuSharma-oe4mk

    2 жыл бұрын

    not really - gdp per capita in USA is 70,000 , while in india it is 2,000 dollars ... for USA even Mckinsey gives twice of per capita GDP , while for india it is 10 times. a 5 yr old project lead in USA leads a good life , while in India he lives a king life. in PPP terms one dollar is approx 20 rupees ( real exchange rate is 75 rupees per dollar ) , so the Mckinsey fresher getting 26,000 dollars will get - 520,000 dollars worth of lifestyle.

  • @dieglhix

    @dieglhix

    2 жыл бұрын

    @@HimanshuSharma-oe4mk explains why a lot of IT talent stay in India, must be great life.

  • @arjuntyagi5860

    @arjuntyagi5860

    Жыл бұрын

    It depends on purchasing power parity

  • @ayushvaishnav8859

    @ayushvaishnav8859

    10 ай бұрын

    you cant compare gdp per capita for consulting salaries those people are highly educated while there are millions of inidians who are not educated and earning very less so it is not justifiable @@HimanshuSharma-oe4mk

  • @SealableBags
    @SealableBags2 жыл бұрын

    Really interesting video Heinrich. Interesting to see what’s on the other side of the fence at some of these orgs and definitely gives some helpful context on longer term career goals. Speaking of which - only semi related, but I’m wondering if you’ve released any videos outlining individual contributor vs manager career tracks and the pros/cons of each at various career stages? I’m at a bit of a fork in the road myself, ultimately I’d like to go into management and have some opportunities that may come up over the coming months but I also highly value the ability to develop my skills further and take action as an IC. Anyways, great channel and all the best from Canada

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    Hi Derek thanks for watching and your question.. much appreciated! Did indeed not touch on these Important concepts in videos yet.. might do so in the future, thanks for suggesting! Best, Heinrich

  • @SealableBags

    @SealableBags

    2 жыл бұрын

    @@FirmLearning thank you for the response! For some added context: I’m currently working as a consultant and have relatively low tenure in my role (

  • @thepnn
    @thepnn2 жыл бұрын

    Very interesting! I can confirm the working hours as an intern in big 4 technology consulting

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    Great to hear, thanks for sharing your experiences! Best, Heinrich

  • @strange_and_random
    @strange_and_random2 жыл бұрын

    Dear Heinrich, thank you so much for all the insights and experience sharing! Fellow INSEADer (22J) here, by the way! As I am going into our P4, there is a little career/professional question I am contemplating right now (basically, an industry vs mbb for the same particular industry) and I was wondering if I could connect with you sometime to hear your perspectives and advice. Running a channel, your own business as well as teaching takes a huge amount of effort, so I would perfectly understand your decision and really (really!) appreciate all your time and feedback! Best regards, Tim

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    Hi Tim, sure thing always great to be in touch with fellow INSEADs :) Probably best to reach out via LinkedIn. Best, Heinrich

  • @JONATHANGHEBRETNSAIE
    @JONATHANGHEBRETNSAIE2 жыл бұрын

    Superb video! Cheers from Munich!

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    Thanks Johnny appreciate it - indeed great insights hidden in the data. Best from Munich as well ;) Heinrich

  • @amanlalshrestha4204
    @amanlalshrestha420411 ай бұрын

    Thank you Heinrich I really appreciate the work you have put in for a candidate like me. I am from Nepal and have been working in a boutique consulting firm for 3.5 years, I am planning to be based in Shanghai and get placed in one of the MBBs. Your work is inspiring. Thank you once again! 🙏

  • @KleinmeisterPang
    @KleinmeisterPang2 жыл бұрын

    Wow just wow .. this was very helpful. I will crunch the numbers tomorrow.

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    Great to hear. Yes, definitely lots of other insights hidden in the data :) Best, Heinrich

  • @mcdlr9197
    @mcdlr91972 жыл бұрын

    Such a cool Video! Keep it up;)

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    Thank you!

  • @filetmignon9978
    @filetmignon99782 жыл бұрын

    I know someone that worked as the president of a high-tech-photonics company for about 10 years, and is thinking of getting into some sort of management consulting or something similar. Would that be a good idea or is there a certain way to approach something like that?

  • @ChristianSoschner
    @ChristianSoschner2 жыл бұрын

    Great insights. Thanks for sharing

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    Hi Christian, thanks super happy to hear it is helpful! Best, Heinrich

  • @Nick-iq7yi
    @Nick-iq7yi2 жыл бұрын

    Great Video, now I have a better data basis for my next job interview.

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    That is awesome - how your interviews go well. All the best Nick! Heinrich

  • @shivamchugh3312
    @shivamchugh33122 жыл бұрын

    Hi, Nice video and presentation. It would have been great if the salary number of Accenture, EY Parantheon and Strategy & were also captured in the video, would have given a comrehensive insight.

  • @sankarshanaachar1741
    @sankarshanaachar17412 жыл бұрын

    Awesome video as always! Just a clarification, does total compensation in USA mean salary of any nationality working in USA or does it mean the total compensation of Americans

  • @elliottvelch6763
    @elliottvelch67632 жыл бұрын

    Hi Heinrich, love your videos. Would you please comment on the hurdles that must be overcome to get into consulting a few years after you’ve graduated college? I am a 2020 grad who did not become interested in consulting until senior year (far too late). I get the impression from your videos that one must get it right early in college or it is highly improbably one will break in. Thanks in advance.

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    Hi Elliott, thanks for your comment! Yes, have a video about "experienced hires" on my ideas list for quite some time. Will create it at some point, so stay tuned :) Best, Heinrich

  • @yashvashistha7804
    @yashvashistha78042 жыл бұрын

    Great video man!

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    Thanks Yash

  • @ok0806
    @ok08062 жыл бұрын

    Superb content… huge respect…I would like to have guidance regarding how a fresher candidate can get into consulting services (full time job and internships) really looking forward to it ❤️

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    Hi Omkar, thanks for watching, happy to hear it is helpful. Actually, I have lots of videos on exactly this topic on the channel (what are consulting firms looking for in young graduates, how to prepare for consulting / case interviews etc.) Feel free to browse around in the Firm Learning video library :) Best, Heinrich

  • @aryanbhardwaj3662
    @aryanbhardwaj36622 жыл бұрын

    Terrific content and love your accent.

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    Thanks Aryan, very kind of you! All the best, Heinrich

  • @jp25425
    @jp254252 жыл бұрын

    I find it weird how BCG salaries in the US seem lower than the rest of MBB when BCG is always regarded for best compensation.

  • @nick4430
    @nick44302 жыл бұрын

    Is the UK comparable to Germany? Any notable differences?

  • @rohanmathilagath2537
    @rohanmathilagath25372 жыл бұрын

    Hi Heinrich, What Bachelor degree would you recommended someone interested in Management consulting to do? Also should you earn a MBA before joining consulting or while in consulting? Thanks

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    Hi Rohan, MBA is not necessary, consulting firms hire most people directly out of undergrad. Business degree is probably the safest bet, though in principle especially the MBB firms hire from all undergraduate subjects (as long as the rest of your profile meets the criteria). Best, Heinrich

  • @josepierobon4704
    @josepierobon47042 ай бұрын

    quick question...do Consultants get overtime payment (in most cases)? Because with all those extra hours they make (50+ to 60+ hours a week) and good base salary if they get OT payment it is a significant amount of money. If the OT is not paid then actually the payment they are receiving by the hour is not that high.

  • @the-brand
    @the-brand2 жыл бұрын

    Appreciate the insights. And, yes, these are pretty accurate from the U.S. side.

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    Thanks for confirming! Appreciate it. Best, Heinrich

  • @choupi0645
    @choupi06452 жыл бұрын

    Great video!!

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    Thank - appreciate you watching! Best, Heinrich

  • @lolzorkont
    @lolzorkont2 жыл бұрын

    Very insightful. Amazing he was able to do a survey like that. Those are some valuable contact and input. Good salary for sure, but you have to put in many many hours.

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    Fully agree. Especially on the entry levels, hourly salary is not great, but of course if quickly improves over time. Best! Heinrich

  • @lolzorkont

    @lolzorkont

    2 жыл бұрын

    @@FirmLearning Yeah indeed it does improve quick over time. But something that does not improve i believe is the working hours. No matter how high you will always work long hours. Even as a partner or senior partner. I think the exprience you get at the firm especially without covid is great tho.

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    @@lolzorkont Agree! Working hours will not get significantly better over time. Though more salary at constant working hours means higher hourly wage ;) Best, H

  • @anshumayuri
    @anshumayuri2 жыл бұрын

    It was informative.Thank you so much Requesting you to make one video on the marketing what's the average salary and which demographics have the highest demand

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    Hi Anshu, thanks for your comment. Yes, might prepare additional analyses in the future. Stay tuned! Best, Heinrich

  • @mbbconsultinghacks
    @mbbconsultinghacks2 жыл бұрын

    Also can confirm the hours for BCG - totally in line with what I experienced there :)

  • @shalsteven
    @shalsteven2 жыл бұрын

    12hrs/day. Does it make a bad impact for health in the long term?

  • @joshcastillio8507
    @joshcastillio85072 жыл бұрын

    I just signed an offer at Deloitte consulting for $90k base and a 12.5k signing bonus. Seems significantly different from what’s shown in the data

  • @ammu.live100
    @ammu.live1002 жыл бұрын

    Sir I'm an English speaker and I'm planning to move to Germany or other European countries and work as management consultant. My problem is language. Sir do people working in MBB consulting in Germany usually communicate and work in Germany language only. Despite of the fact that there our people from different countries working there. Please reply 🙏🏼

  • @82ndmi
    @82ndmi2 жыл бұрын

    Hi Hi! I'm four years into working for a Saas platform spun off from a fortune 50 for 4billion this year. I went from BDR>partnerships>customer success> people leader at the manager level with a team of 6 leading Sales operations and strategy in tandem with our PMO office, my team is half implementation engineers, half Customer success with a target of both growing account revenue and building new operational processes that will be published to support and customer facing wikis. on the side I also run an erg and a veteran training program that works with our partners to create a job pipeline for veterans with our partners. Other experience is 9 years NSA targeting analyst/joint special forces/arabic linguist. 1 year grocery pricing analyst. 1 year education sales. my question is, do I have skill gaps or could I possibly move into consulting at a level that will beat my 140k targeted pay given these numbers?

  • @drshell2
    @drshell22 жыл бұрын

    Very interesting

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    Find it quite interesting as well - thanks for watching Sharma! Best, Heinrich

  • @srgutierrez4812
    @srgutierrez48122 жыл бұрын

    Great Video! I have been working for a strategy consulting boutique for 2 years now, and was planning for a move to an MBB, would you recommend doing an MBA?

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    Hi! An MBA can help to get into MBB, though usually only if it is from one of the international top schools. Though would not do an MBA only for the goal to break into MBB. Even a Harvard MBA is no guarantee to get into MBB, you will be quite salty if you spent all the time and money just for this goal and it does not work out in the end. Best, Heinrich

  • @mirmirov9527
    @mirmirov95272 жыл бұрын

    Hello Heibrich. I have just got a working student job at kpmg in the advisory.is it a good a start for joining MBB after graduation?

  • @mbbconsultinghacks
    @mbbconsultinghacks2 жыл бұрын

    Salaries are also creeping up slowly both in the UK where they bumped pay up by 5k recently, and in the US where they bumped it up from 90 to 100k. This is for MBB... they are afraid of losing us to big tech (which has already happened in my case :P)

  • @shalsteven

    @shalsteven

    2 жыл бұрын

    Big tech? Software engineer you mean?

  • @gamersforeverr
    @gamersforeverr2 жыл бұрын

    I've always been intrigued by the salary difference between Europe and the U.S., considering EU citizens are taxed more. The living expenses in large U.S. cities (NYC, Boston, ...) don't surpass those in European ones (London, Paris, Munich, ...) enough to justify the gap, which leads me to believe it lies in the market (U.S. graduates finish school with high student debt, based on the business school rankings one can argue the candidate pool is more competitive in the U.S., high-performing students have more job opportunities, etc.). How does that play out considering McKinsey employees are staffed internationally (you're effectively part of the same "big office" travelling worldwide and working on equal difficulty projects), yet the salaries are quite different (180k = 10k$/mo in NYC post-tax, vs. 125k = 6,8k$/mo in Munich post-tax - disclaimer: loose calculation, can mostly vary based on insurance, but I assume McK offers packages for their employees in the U.S. that aren't calculated in the salary)? EDIT: Also, thanks for the video - insightful as always! :)

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    Great thoughts, thanks for sharing! Agree that US salaries seem to be higher, surely not only on entry levels but even more significantly for leadership roles / C-level. While living costs in Paris or London might be more comparable to NYC, SF etc., would argue that living costs in Germany (even Munich, Berlin) are significantly lower. Taxes will definitely make a difference though. Agree that likely insurance etc. was not included in the data by most respondents. Thanks for watching! Best, Heinrich

  • @ChraToooX

    @ChraToooX

    2 жыл бұрын

    I agree with you the most part, but, as Heinrich mentioned, the wage on the client side differs a lot from what I can tell. Just look at the wage difference in C-level positions in the US and Germany. Cannot comment on the US side that much (except for the higher wage in general) but in Germany you do have some laws that e.g. state that the wage of CEO has to be somewhat comparible to his work and the performance of the business in the opinion of the supervisory board, §87AktG. I mean just comparing the wage of Tim Cook and Herbert Diess reveals that German business won‘t pay consultants as much and therefore their salary is a lot lower.

  • @beverhart58

    @beverhart58

    2 жыл бұрын

    Salaries are higher in the US because clients are more willing to pay higher rates

  • @glennquagmire9572

    @glennquagmire9572

    2 жыл бұрын

    125k$ are about 5,9k$/mo in Germany post tax what from my experience is quite comparable.

  • @Retumn98716

    @Retumn98716

    2 жыл бұрын

    You must be very delusional to think that COL of any major city is comparable to German cities. But especially NYC - dude, I saw people paying 2.5k for a shitty 1 room apartment with cockroaches and no kitchen in NYC. Even though Munich is very expensive, you could live like a king already as a single spending 2.5k on rent. Everything else is also much cheaper .. I remember my travels to the US and just how expensive everything was particularly good quality veggies, meat, milk etc I would say MBB salaries give you a better living standard in German at the beginning. However, I also agree that US has more lab option like payoff with salaries really outpacing the more senior you get. Then again … once you have children in the US you need that Delta again to pay everything which is already included in taxes in Germany.

  • @playmakerpe8174
    @playmakerpe81742 жыл бұрын

    I imagine those amounts are before taxes. Is there a huge difference between taxes in US and London?

  • @hindhanifi5478
    @hindhanifi54782 жыл бұрын

    Hi, What do you think a good salary is for entry level consultant at Deloitte Canada ?

  • @musafasih3615
    @musafasih36152 жыл бұрын

    Hi Heinrich, amazing video! Quick question: are firms like McKinsey less likely to hire candidates having prior experience in small to medium sized companies?

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    Hi Musa, in principle the fact alone that you worked for a small / medium sized company will not disqualify you to get into MBB / McKinsey. Of course ideally you did something at this company that was "impressive" or in any other way relevant to the work of consulting firms. Best! Heinrich

  • @musafasih3615

    @musafasih3615

    2 жыл бұрын

    @@FirmLearning thank you, much appreciated 🙏

  • @Pweber8888
    @Pweber88882 жыл бұрын

    Hey Heinrich, just found your content. Awesome timing. I just started my MBA and looking to get into consulting. However, it's not a target university by far, but it's a program that takes place in 4 different countries incl. USA. (no business background), do I have good chances for big 4 you think? Much appreciated

  • @sanguinor5609

    @sanguinor5609

    2 жыл бұрын

    You’ll defiantly get big 4 my guy. They’re not that hard to get into. Defiantly give MBB a go if you’re heading in with an MBA. It all comes down to networking at the end of the day so don’t cut yourself short.

  • @Pweber8888

    @Pweber8888

    2 жыл бұрын

    @@sanguinor5609 sweet thanks for the reassurance ❤️❤️

  • @sanguinor5609

    @sanguinor5609

    2 жыл бұрын

    @@Pweber8888 I got Deloitte after winning a case study competition so you’ll be fine.

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    Hi Patrick, of course do not know the details of your profile, but Big 4 sounds quite reasonable indeed. Regarding Tier 2 or MBB, would always just try if you are interested. Nothing to lose ;) Best, Heinrich

  • @user-qh9vh2vs7f
    @user-qh9vh2vs7f2 жыл бұрын

    Heinrich spilling the tea for us

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    Indeed this is a topic that needs much more transparency. Thanks for watching!

  • @DMDRPBHU
    @DMDRPBHU2 жыл бұрын

    How to get into consulting with data science background

  • @AZNGoSu
    @AZNGoSu2 жыл бұрын

    I think you should have done US only for the comp breakdown as regional variances make the data points hard to understand

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    Hi, yes agree the regional splits are very important. Though I did include the salary splits to the right of the charts? Also check out the full data set to drill down into all individual countries :) Bestm Heinrich

  • @tomraynor5664
    @tomraynor56642 жыл бұрын

    Not sure how the data was compiled, but the earnings figures for Consultants / Associates in the US for BCG are way off. Base salary for Consultant 1 (first year consultant post-MBA/advanced degree) is $175K; with all bonuses it's closer to $200K and higher than McK or Bain. Source: current BCG consultant (but feel free to double check my numbers from looking online, on Fishbowl etc.).

  • @varunreddy280
    @varunreddy2802 жыл бұрын

    Hey thank you for the efforts ...! I just want an important suggestion from you Which specialization should I pick in MBA for getting into Consulting- IT/Analytics or Operations Thank you in advance ...!

  • @ayushvaishnav8859

    @ayushvaishnav8859

    10 ай бұрын

    do you got your answer if yes kindly reply

  • @ajb229
    @ajb2292 жыл бұрын

    I will check out those UK data points :-) The averages don’t tell you all that much given such a diverse range eg USA vs India.

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    Yes, agree that it is important to look at the individual countries. Best! Heinrich

  • @vanessastella2594
    @vanessastella25942 жыл бұрын

    I got an offer for an internship from EY and KPMG (Germany). EY salary is 1.850€/ month. KPMG on the other hand only 1.100€/month because the internship is less than 4 months

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    Hi Vanessa, interesting thanks for sharing! Best, Heinrich

  • @JohnDoe-ry9bu
    @JohnDoe-ry9bu2 жыл бұрын

    Could somebody maybe explain to me why there is such a big difference between US and EU (Germany) salaries?

  • @jerryn9690

    @jerryn9690

    Жыл бұрын

    USA always pays more than Europe. USA is a larger market with higher revenues

  • @davids3477
    @davids34772 жыл бұрын

    quite interesting... but often a very small number of data points, and self reported, so we may see some quite strong deviations in real life!

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    Hi David, yes agree that the data is not perfect. Best! Heinrich

  • @kunalbhardwaj3108
    @kunalbhardwaj31082 жыл бұрын

    How much a manager (Big 4 Advisory) would earn ?

  • @WilliamRandomUploads
    @WilliamRandomUploads2 жыл бұрын

    Accurate with good insights 🔥👌🏼 But Asia countries big 4 are way behind lol

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    Thanks for confirming William! Great to hear. Best! Heinrich

  • @vinitpatel0510
    @vinitpatel05102 жыл бұрын

    I'm a consultant with BCG India and I think comps are 1.6x of what the surveys have captured.

  • @b.c.rontal3459
    @b.c.rontal34592 жыл бұрын

    Hallo Heinrich, ist 33 zu alt für Consultingeinstieg?

  • @kurtgidley9464
    @kurtgidley94642 жыл бұрын

    So, while you're studying your MBA you keep getting paid?

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    More or less, yes (plus contribution to your tuition). Best, Heinrich

  • @davidbasler1695
    @davidbasler16952 жыл бұрын

    From a Swiss Big4 perspective , the working hours seem reasonable and the salaries are a bit lower than in the US

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    Hi David, thanks for your insights! Yes agree, Swiss salaries definitely higher than in Germany. Best, Heinrich

  • @rayvinjamuri3913
    @rayvinjamuri39132 жыл бұрын

    Bain and BCG total compensation for ACs and Associates in the US is ~136-138k. Not sure why the data is so off here because MBB will typically pay very similar across the board at the junior levels. In fact, I believe BCG is known to typically pay a few thousand higher than both.

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    Hi Ray, interesting, thanks for sharing! Best, H

  • @leohuang6142
    @leohuang61422 жыл бұрын

    How about Accenture?

  • @infinity_growth
    @infinity_growth2 жыл бұрын

    love from India Heinrich!

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    Thanks Arko, much appreciated! Best, Heinrich

  • @Snakebloke
    @Snakebloke Жыл бұрын

    What I'm learning here, is, MBB is paid the most, but the working hours are toxic as hell. Big4 are paid less, but normal hours - probably still toxic. I'll take even less pay in a less stressful environment please.

  • @iklaseksambi5812
    @iklaseksambi58122 жыл бұрын

    Wait a minute! In India the whole scenario is different. MBBs and other Consulting firms hire entry level consultants after MBA in India unlike for rest of the world where entry level consultants are pre MBA undergrads.

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    Hi Iklas, trust you will have a better understanding of the Indian market than me. Though heard several times that MBA degrees in India do not require work experience - is this correct? If yes, then Indian MBAs are more comparable to European Master programs which are typically pre-experience as well and which (in Europe) are the biggest feeders into junior MBB roles. Cheers! H

  • @sairangans8427

    @sairangans8427

    2 жыл бұрын

    Yes, in India, MBA is referred to as PGP in management, and freshers are comparatively more when compared to students with work-ex

  • @Alejandro-mo4pt
    @Alejandro-mo4pt2 жыл бұрын

    And what about the partners?

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    Data set contains some data on Partner level as well, feel free to check it out! ;)

  • @opnspa55
    @opnspa552 жыл бұрын

    Germany salaries are too low when it comes to consulting as compared to the USA

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    Definitely lower indeed :) Best, Heinrich

  • @ilililililil3939
    @ilililililil39392 жыл бұрын

    Mega Video Heinrich! Vielleicht kannst du deine Reichweite nutzen und eine ähnliche Umfrage für Deutschland machen

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    Ja gute Idee! Allerdings enthält der Datensatz schon jetzt sehr viele Deutsche Datenpunkte, schau ihn dir gerne mal an. Vllt. mache ich in Zukunft aber auch mal etwas in diese Richtung. LG! Heinrich

  • @opnspa55
    @opnspa552 жыл бұрын

    In Germany can one work as a consultant in two different companies?

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    Hi, well in theory it is possible to have two independent labor contracts. Though in practice can hardly imagine that any of the major consulting firms will allow it (besides the fact that it will be almost impossible, just regarding the workload). Best! Heinrich

  • @christianschmidt-hansen5994
    @christianschmidt-hansen59942 жыл бұрын

    I love how German this guy is

  • @SDY274

    @SDY274

    2 жыл бұрын

    “ConZALting”

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    ;) Thanks for watching Christian! Best, Heinrich

  • @ConsultingHumor
    @ConsultingHumor2 жыл бұрын

    Ayy!

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    Thanks for putting all of this together! #transparency

  • @anonymousgamerfifa12
    @anonymousgamerfifa122 жыл бұрын

    Data seems flawed. Bain definitely doesn’t lag Mck by that much in India and BCG easily pays more than both.

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    Might be some outliers affecting the averages, full data set is available for review 👍

  • @jefftX
    @jefftX2 жыл бұрын

    What’s conzalting?

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    ;) Thanks for watching Jeff! Best, Heinrich

  • @JuanJuan-fp8kq
    @JuanJuan-fp8kq2 жыл бұрын

    Hey cool videos, but have you tried saying conSulting instead of conZZZulting? Jokes aside, great content btw, many thanks!

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    Hi Juan, thanks definitely many things I can work on regarding my pronunciation ;) Best, Heinrich

  • @rosecolouredglasses
    @rosecolouredglasses2 жыл бұрын

    Aw, Heinrich, keep it classy! No need to sensationalize and use the word "leak."

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    Agree, thanks for the feedback! Frankly, whenever I use a picture that is a little bit more "aggressive" like this one, the video does tend to perform significantly better on KZread (being suggested to more people, getting more views etc.). Do not want to create super clickbaity content though, so definitely a fine line to balance on. Best! Heinrich

  • @harpcourt
    @harpcourt Жыл бұрын

    surprised these base salaries quite low

  • @Lyonezz
    @Lyonezz2 жыл бұрын

    I can for sure tell you that all data about germany are fake. No deloitte senior associate or accenture senior associate gets around 100K €. I worked for both companies. The salary for seniors is around 55K

  • @user-jw6ny1bl6m
    @user-jw6ny1bl6m Жыл бұрын

    so if the data is correct. this means that while overall compensation in MBB is higher than the big 4 by 70%, on an hourly basis, there is only 7% difference🤡🤡🤡🤡🤡.

  • @BGWee
    @BGWee2 жыл бұрын

    These are IB hours almost for like half the salary…

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    Big difference to IB: weekends are free ;) Cheers, H

  • @toplock4046

    @toplock4046

    2 жыл бұрын

    Can confirm that IB hours are all 80+ hours. With the boutiques usually 100+

  • @BGWee

    @BGWee

    2 жыл бұрын

    @@toplock4046 Do you work in IB? Do you not regret going into a sector with such insane hours?

  • @MRFLOPPYmr
    @MRFLOPPYmr2 жыл бұрын

    Why is everyone trying to get into consulting?😂 Get into sales. Far more freedom, far less working hours plus comparable salary 🤷‍♂

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    Agree that Sales offers some great opportunities with significantly better lifestyle (e.g AE roles at fast-growing SaaS companies). Though I would argue that the learning curve is more attractive in consulting (of course depends on the exact sales role). You can still move into an AE / Enterprise Sales role after a few years at MBB. Best! Heinrich

  • @jasperr8

    @jasperr8

    2 жыл бұрын

    Same Burnout if not more? You're the one pressured in the company no other, right? I've got some sales qualities and experiences, experience with project contracts and networking. Currently CFO of a 80 person student Consultancy in addition to finishing my degree. I've always lacked an understanding of where the path of sales would lead career wise. Head of sales sometime? I can not wrap my head around the cognitive challenges I could conquer. Also I feel like the product has influence on me. I've always read employers want people with x experience in their certain surrounding market. I've switched from hierarchically working on the level of lawyer to starting a bachelor's that led me to consulting, now finishing in my late 20s. I like the diverse challenges. Which sales position can offer me this at this moment with my background ?

  • @jasperr8

    @jasperr8

    2 жыл бұрын

    @@FirmLearning which would be those fast growing SaaS companies? I feel like starting directly in sales without having had any full-time sales job is too much of commitment. Also the idea of having to close deals is nerve wrecking atm.

  • @gabrielslater2739
    @gabrielslater27392 жыл бұрын

    commenting for the algorithm...

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    That is aweseome - much appreciated Gabriel, thank you! Best, Heinrich

  • @vicluu8026
    @vicluu80262 ай бұрын

    After looking at how much consultants make in their first year, I am so glad that I did not pick this career path.

  • @FirmLearning

    @FirmLearning

    Ай бұрын

    What career path did you choose?

  • @CalexBudz
    @CalexBudz2 жыл бұрын

    Mmm yes. Conzitant

  • @emmablair6312
    @emmablair63122 жыл бұрын

    oh wow

  • @tmokorie7649
    @tmokorie76492 жыл бұрын

    Nicest guy with the worst accent ever. Very insightful and useful. Great work buddy!!

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    ;) thank you for watching, appreciate it! All the best - H

  • @gewissenruhinsider3583
    @gewissenruhinsider35837 ай бұрын

    Alter hörst du dich deutsch an😂😂. Trotzdem gutes Video👌🏼

  • @another_youtube_bot4400
    @another_youtube_bot44002 жыл бұрын

    That’s way too many hours for not enough money…

  • @anmolmishra3635
    @anmolmishra36352 жыл бұрын

    From india

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    Thanks for watching Anmol! Best, Heinrich

  • @mayurdutta2375
    @mayurdutta23752 жыл бұрын

    The US and Indian comparison my lord 🥲

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    Indeed..!

  • @oxidalpha6350
    @oxidalpha6350 Жыл бұрын

    Not worth in germany. You have much higher salary with 1-3 burger restaurants or coffee/bars with much less effort.

  • @oxidalpha6350

    @oxidalpha6350

    Жыл бұрын

    @@JoaoAlmeida29453 junior maybe 50-70k? Im not sure. As senior 130-160k? But in germany it doesent matter you have to high taxes here. From the 130k you will get 6k every month after taxes for that much stress and responsibility. Doesent worth. You can easly reach this salary with small restaurant in 1 week.

  • @allensvideo4108
    @allensvideo41082 жыл бұрын

    Dude...you sound like Arnold

  • @Michael-vf2mw
    @Michael-vf2mw2 жыл бұрын

    "Conzighting"

  • @boahgeil465
    @boahgeil4652 жыл бұрын

    Glad that I do not work in a consulting company. i prefer less working hrs and more money lol

  • @Resistance_is_futile1337
    @Resistance_is_futile13372 жыл бұрын

    Accidenture 💩

  • @FirmLearning

    @FirmLearning

    2 жыл бұрын

    🤓