BCG Consultant Salary | What Could You Earn At The Boston Consulting Group?
Want to work for the Boston Consulting Group? Find out what BCG consultant salary prospects are for MBA and master’s graduates
Big Three consulting firm the Boston Consulting Group (BCG) is ranked among the best consulting firms to work for. BCG is also a major recruiter of MBA and business master's graduates.
BCG hires from top US business schools including MIT Sloan, Kellogg School of Management, and Columbia Business School, as well as internationally.
Along with the opportunity to work at the cutting-edge of business, a typical BCG consultant salary hits a lucrative six-figures. BCG consultant salaries have also risen for 2022, along with the other Big Three consulting firms.
BCG Consultant Salary & Bonus
One of the key attractions of joining the Boston Consulting Group is the BCG consultant salary prospects awaiting successful candidates. An incoming master’s hire can expect a starting base salary of $100,000 at BCG. Incoming MBA hires can expect a lucrative $175,000 per year as a starting salary.
That’s before the performance and signing bonuses that accompany annual salaries at the top consulting firms. Master’s graduates can expect a performance bonus of up to $25,000 and a signing bonus of $5,000. Their MBA peers joining BCG can earn a performance bonus of up to $43,750 and have a signing bonus of $30,000.
According to ManagementConsulted, in top consulting firms you can typically expect a 10-to-20% increase in your base compensation and/or performance bonuses each year.
There is a steeper increase in compensation too when you’re promoted to the next level. When you’re promoted from associate to consultant at BCG, your base salary almost doubles.
Total compensation for BCG’s new hires has grown year on year, according to ManagementConsulted. This total amount includes salary, performance bonus, and signing bonus. In 2019, master’s-level hires could expect a total compensation package of $111,000, which rose to $113,000 in 2021, before reaching $130,000 in 2022.
The same can be seen for MBA hires, whose total compensation was $231,000 in 2019 and now sits at $250,000 in 2022.
The typical career path at BCG begins with an associate position, before you become a consultant, then a project leader, a principal, then a partner.
Promotions to each of these roles brings with it a rise in compensation. The typical project leader salary—two years out of an MBA—is $200,000-to-$220,000 with a bonus between $90,000 and $130,000.
In top consulting firms, a senior project leader (four-to-five years out of an MBA) earns between $250,000 and $320,000 with a bonus between $120,000 and $220,000. The typical principal salary (six-to-eight years out of an MBA) is between $350,000 and $420,000 with a bonus of $350,000 to $550,000.