BCG Salaries & Working Hours Exposed 😱 (ISB MBA)
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- Опубліковано 19 жов 2024
- What huge salaries and long hours do management consultants draw at Mckinsey, BCG, Bain?
In this video, I discuss actual numbers for hours and salaries for the consultants ranging from Mckinsey & Co, BCG, Bain & Co., Kearney to Bog 4 (PWC, EY, Deloitte), etc.
So stay tuned till the end to even know a partners' salary!
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Shatakshi is Co-CEO of 🚩Global Governance Initiative (MBA program recently featured by Poets & Quants), an Ex- 🚩Boston Consulting Group, BCG, management consultant, a 🚩writer, and former public policy advisor in 🚩Tony Blair Institute for the Middle East region.
She has been also felicitated with The Most Promising Women Leader 2021 award by ET and
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She will be uploading daily content on 🚩career advancement, 🚩personal finance, and 🚩productivity hacks. Be sure to subscribe to the channel to get notified whenever she uploads the video.
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Video Transcript-
In this career insights article, I will be uncovering a topic that has generated curiosity in the minds of most management consulting enthusiasts- the work and the reward. Before I begin, you must be mindful of the fact that salaries and hours vary in accordance to roles and geographies. And hence, in this article I will be majorly talking of consulting industry in India.
1. Hours
The hours have a high probability of fluctuating. And that's why it is particularly hard to put a single number to it. Each project brings forth its own demands, causing a variation in the hours. Few consultants tend to clock more than 70 hours a week or few as low as 50 hours a week. These consulting hours are typically based upon your team, case partner, case timeline, problem statement and, of course, the client. Hence, simply put, it is a volatile time frame.
For providing you some clarity, I am splitting the companies ecosystem into 2 categories :-
Category A includes premium consulting firms such as BCG, McKinsey, Bain and akin
Category B includes Big 4, namely: Deloitte, Ernst and Young, KPMG and PwC
On an average, 70% consultants in category A clock around 60-70 hours/week.
On the other end of the spectrum, the Big 4 consultants clock 50-60 hours/week.
This is not inclusive of the airport travel and on road time, which in itself is substantive and can be tiresome.
These ball park hours are representative of working 5 day work week. Thus, it comes as a surprise that the intensity of the work load tends to get over-shadowed by the rather picturesque lifestyle. Therefore, it is advised that the extent of world load is definitely something that each aspirant, such as you, must consider and prepare for as you take the next steps.
2. Salaries
With great work comes great rewards. Moving onto the more exciting and anticipated section- the salaries.
It is no secret that the management consulting gets its ostentatious name from these exuberant perks and salaries. Here, we discuss the roles and their subsequent recompense.
To begin with you must know the hierarchy of positions in the firm:
1. Analyst,
2. Consultant,
3. Managers and
4. Partner.
A typical undergraduate gets the role of an analyst in MBB. As referenced before, from a Category A consulting firm, these analysts earn about 13-15 Lakhs per annum, inclusive of the bonus. I do know that this is a promising number for one to kick start your career and utilize the launch pad that management consulting brings.
Moving up the hierarchy, onto the consultants. They are typically post graduates, bagging about 28-33 lakhs per annum. It can be noted that IIMs tend to get a lower package than ISB since an average IIM graduate has lesser work experience. Though, in the grander scheme of things, the difference between the net evaluations is minute and insignificant.
Higher up the pyramid, the manager (mid layer professional) can draw around 70-80 lakhs per annum. The point to note for you is that though the bonus could be as high as 100%. The rewards get better as you come closer to the apex.
Jumping to the very top, the partner ( senior layer professional) checks in an average base salary of 1.2-1.8 Crores per annum...
![SALARIES & HOURS of Banker VS Consultant Exposed 🤯[Ex, BCG] - Applicable for Mckinsey/Bain/Goldman](http://i.ytimg.com/vi/O9K0SyOaM9M/mqdefault.jpg)
On a totally related note, become part of the most disruptive GGI Fellowship to get in management consulting/development consulting here (recently featured by Poets & Quants also) - www.globalgovernanceinitiative.org/
i have seen many people in linkedin they got associate role directly after undergrad from it b d
Hey - I have recently joined consulting from Audit (Due Diligence practice of a big four) and was researching for the role, that’s when I came across your content. Safe to say, it’s very useful, relatable and insightful. Great job. Way to go
I am not generalising but now a days In IT industry most employees are really work less than 45 hrs a week & getting salary more or less the same as MBB consultant.
I would say more than what MBAs are getting...
These days it is tech that is ruling.
Yup. I have 4 years of experience in AI and I work approx 30 - 35 hours in a week and earn more
This is 100% correct. These consulting jobs may sound good and "prestigious" but really they suck the soul out of those working in these fields. Work volume is very high and expectations that you should work 10-11 hours are pretty common. In my opinion, the pay is not commensurate with the stress that you have to go through. In contrast, IT jobs generally pay pretty well and don't require you to sell your soul.
@@kd6931-w2m hi bro..can you contact me i need some information regarding AI?
@@amitsrivastava9190 You can dm me on LinkedIn...search for my name along with nlp
Entry level salary in tech for firms which expects 60-70 hrs work(i.e. HFTs) is more that 60 lpa. Surely, it's the time to be in tech! Even faangs of the world pay either more or similar to mbb with much better wlb.
Agreed
Yes i aggreed
This is age of it .IT is future
It's totally depends upon the person for which organization he/she wants to work for.
WLB differs for diff project in MBB and it's not everyone's cup to tea to work for MBB
I have been a part of your linkedln network and seen many of your posts, didn't knew you made so many videos, I'll go through them and comment in forthcoming videos as to what I want to see.
Keep sharing your experiences and skill set.
my dad is a rikshaw driver and he works all day no weekend off and he works for approximately 60+ hrs
he goes in the morning at 8 am and returns back to home at 9 am
so I assume it to be more than 60+
so i m a CA aspirant and i want to get into IB or consulting
and i can work for 80+ hrs bcauz my dad has worked all his life to educate us and i can not give an excuse that i don't want to work for 60+hrs if I get the job
Btw CA aur Consulting IB pura alag alag field hai 🙂🙂🙂
@@akshaykumarvyas thanku brother for your generous reply
But it is not only about the physical stress it is also about the mental stress created due to a very small income approx 10-15 k
He has to in these 10-15k saved in a month allocate it to our education me and my small brother
Provide all other expenses like classes school daily household expenses and we could go on
For a very small small hope which is we as normal child's could grow earn a living from doing work not as a rickshaw wala or any other labour work but as well educated people who definitely could sustain mental stress bcauz it is there job to do so he does not wants us to earn through physical means but earn through our intellect
By the the way in CA we do study 10-12 hrs a day every day with a huge pressure of the exams which would definitely be less than the pressure of work
@@akshaykumarvyas thanku brother for the generous reply
This time I'll cut it short
I'll take care of my health by exercising everyday and also I'll try to maintain my work life balance
So thanku my friend 😃😃
Niice drive there brother
Keep grinding
No MBA can be ever compared to CA..... You have chosen the best thing for yourself....in front of CA, MBA is a mere joke..... Ye saari degrees eg. MBA, BBA, business analysts etc. Ekk taraf aaur CA ekk taraf...... These all degrees even if combined together... Can't match the greatness of chartered accountancy course 🔥🔥🔥CA's can work in an MBA domain... But an MBA can never ever work in CA domain........
Hi Shatakshi. Love your content. Could you please throw some light on oppurtunities for CA's in BCG and also the industrial training offered by BCG for CA final students
Would be quite helpful for many CA students, if you make a video on possibilities of CAs in consulting domain...
Only 1-2 CA in or coupls gets job in consulting ... Even They only interview the rank holders....
Getting job as a ca in bcg is next to impossible only handful / rankers would get
Finally found someone who talks both pros and cons of consulting bcz most of the people boast only salary and didn't mention about working hours
Thanks a lot mam 😊
Moral : avoid consulting career despite the tempting pay
54% of the CTC is what you get in hand. idk but i feel like companies today inflate their CTC to lure employees.
Its great to see you here shatakshi👍Bang on
I've often heard about "spikes" that consulting brands look for. Could you please elaborate this from a MBB point of view? And while I'm aware that MBBs hire from IIMs, IITs and ISB in India, what is a way you would recommend to get into MBBs from tech consulting to management consulting?
A big Yes!! ❤
I'm coming to this "The Elite Group!!"
So glad you are on UA-cam!! Following you on LinkedIn for a while now. Keep up the great content ❤😊
Thank you for being so transparent!
Thank You for such an honest Video!
Had one request. Can you comment on the average hike/appraisal cycle and percentage?Also some colour on the work or process thay goes behind getting yourself a promotion?
I believe you're doing quite well for yourself and sometimes when its left in surplus try hiring a good editor
Shatakshi - Would suggest to invest in a decent mic as video's voice quality is not part with the content, atleat till ~ 4 min mark
Please make in depth video on how to prepare and Management consulting roles. Also if someone as good Data Analytics domain knowledge will it be an additional benefit to get into Management consulting?
Great content. Keep going!!
~33LPA and ~1.5 LPM, For some reason I can't put the math or logic behind this. I also read a comment abt no stocks and pensions included.
I am still thinking how it got to 1.5lpm
Remove tax
I interacted with Bechtel once while doing a job,I thought they have good salaries ! It was a mirage
No offence to anyone but really surprised to see the salaries of these so called "top firms". A good software job or a software job in an investment banking firm pays pretty much the same salary , even more in many cases and the hours of work might be lesser because 60-65 is the maximum that is expected out of you. And these are just BE/BTech graduates with some 5-6 years of experience. So no offence but these big firms need to up their salaries if they still want to be called as "premium" employers.
I wasn't aware that IT pays similar. Good for them :)
Sure tarun, same will be communicated to MBB HR teams
Software engineers generally get 3.5 lakh per annum during their initial years. One has to work their ass off on DS and languages to get into product based companies. At the end, job security decreases with age. MBB people get into higher management roles by 8-10 years.
Wow very refreshing , keep it up
Hi shatakshi, nice content!
Can you please make video about business analyst in big 3?
Came here because of the video Title, but fuck that, I just absolutely love your tattoo 💯
Its a very poor salary for people working 60-70 hours a week. You can easily make at least 40% more than this at a good tech company while working 40 hours a week and having a life. I have seen quite a few people who receive "pay correction" when they joined from MBB companies to any of the top tech major. Also tech firms give you stock options which over a period of years is more than your entire net worth. MBB gives you no such choices. In a nutshell you can make more money, have better work life balance and work on interesting stuff while working at a Tech major than at an MBB firm.
Haha, hold the gloves of young doctors working in india with poor infrastructure and rowdy patients, for peanuts
I really like your tatoo...❤😂😂
Hi Shatakshi, is it actually possible to transition to management consulting from data science? Especially at an age like 31? Or is it a must to do an MBA?
All these rules and boundaries have been created by so called “know-it-all” gurus to make you feel - it is not possible. The world is created by people no smarter than you - please go ahead and explore what you love the most - even if you are 85. All the best.
Try for MBA in the usa
@@MrSpoiltbratt great words.
Data scientists can be a much more successful profession than Consulting, Try to grow in that if you can...It might lead you to great success, If not...Then go for MBA from a top b School,Your work ex would get you a healthy package
@@bhavaykalra5805 both are successful professions. No bias plz
Could you please make video on the other departments as well? Such as Admin, HR & So on?
1.5 lakhs in hand with 33 lakhs CTC.. that's pretty low..
Thanks a lot for this.
Hi Satakshi, I am currently doing my MBA with a Specialization in Marketing management. I was exploring transition possibilities into consulting. At 30, do you think it's worth a go..my main area of experience being in Sales and Marketing?
To explore transition possibilities from Marketing to Consulting. In my opinion, it's a wise decision to go into Consulting. I don't think age matters. However, for this you better book and pay for 1 on 1 with Shatakshi or Finance with Sharan or Hrithik Mehlawat or anyone you know who can guide you while transitioning into Consulting.
Hi @Shatakshi, I am 29 years old and I am preparing for my gmat exam . Do you think MBA from ISB will be valuable for me?
Hi Avinash, it really depends upon your goals. ISB is primarily a consulting and PM feeder school. If you want to go there, then yes. But lets say you want to explore private equity, venture capital, then it will be tricky. Of course , that doesn't mean that consulting offer post ISB will be a piece of cake either :)
Mam why inhand is less at 1.5l per month where ctc is 30lpa
Does 1.5 lpa goes to pension nps taxes or does it includes company shares stocks
No, 1.5L doesnt include pension or stocks
@@Shatakshi.Sharma So do you get Stocks as part of your CTC ?
Good explanation mam
Hi I'm Ariful Islam leeton im software engineer and members of the international organization who and members of the international telecommunications
Did you do the PGP program at ISB Hyderabad? Would you suggest it to someone who’s looking to progress in his Consulting career? Also is it the equivalent of doing an MBA from any other university?? Thanks
Does BCG hire for business analyst role?? Like McKinsey and BAIN??
Quite informative.Can u pls give an idea how is the growth trajectory n how much time it takes for an Analyst to reach a Manager or Partner level
It typically takes 9-12 years for an analyst to reach a Partner in MBB atleast. Can be earlier in Big 4 I believe.
50-60 hrs ..... unbelievable
Management consulting mein ghus jaao bas set hai life is the whole crux of the channel !
Beside All 3 Top Consulting firm,do pharma Companies also have consulting firm?And what is the job there and salary and working hours ?plz reply mam
Pharma company have huge R &D division and yes they hire consultants with pharmacy/ research background + MBA degree.
It is very confusing sure but it is very common.
Esp from college like ISB etc
Hi Shatakshi, hope you are doing well!
I am looking towards Financial Analyst role in RTR process at BCG but didn't got any response yet! Could you please help out in connecting to HR?
Hi Ma'am
I'm a MBA Graduate and currently working as NetSuite consultant.. What is your opinion about this job, does it provide me opportunity to grow?
Dude this question u should ask ur friends or people in ur company who have been there longer than u. Only they can give u the right answer as they have much experience in that firm
I m 41.
Not from elite b schools
But wish to get high paying job
I have been trying since the age of 26 27 but IT industry is full of backdoor entries.
Please help
Noted. Will have ministry of labour and employment get in touch with you to arrange job for you in the MBB
Hi Shatakshi,
How consultants manage 60-70 hrs/week?
Because I think these hours are too much for a person to handle on daily basis.
I am an engineering graduate and I work in the construction sector. I work almost 70 to 80 hours for the last 19 yrs. Always I feel that the working hours in consulting are far better than construction sector. I am not generalizing that all personnel in construction work these many hours/week. But mostly who work in subcontracting construction companies are exposed to a minimum of 70 hrs.
@@arulmurugan265do you have health problems ?
It's nothing compared to how many hours an IB analyst/associate needs to work 80-100hr/week are a common feature. Compared to that 60-70hr is very manageable. It's basically 12hrs a day and also you are not working the entire day, their are breaks involved
Thank You.
Mam, what is eligibility criteria for recruitment as consultant during MBA?
Good info
can u please add upi or wallets as payment options at GGI, will make it user friendly and faster for applicants
Mam, I am koushik Ganguly from kolkata in India. I have done my MBA from eiilm kolkata, now I am about 38 I have keen interest get a management consulting industry, I have experience on sale now now I am interested to enter management consulting job, may I enter may consulting job at stage or age
@6:41 Shocking truth ...
Hi Shatakshi,How are you? I have a very silly question, which college is good ISB Hyderabad or IIM AHMEDABAD.
Hi Shatakshi, Expecting a reply from your side. Thank you.
IIM Ahmedabad for sure
Hi Everyone
Right now, I am persuing CA FInal and having exam this year
And not have any experience in BIG 4 yet
Can anyone can guide me how I can grow myself and get the job kn these giant management consultancy firm
Thank u in advance
How much would a rank holder in CA course earn in bcg ?
It's 50 crs. You can retire after working for 1 year
First he needs to be in bcg... It's almost impossible for CA's to be there
Amazing video, but voice is too low
Let me see what best can be done. Thanks for letting me know.
The EM and Partner Salary you quoted is including or excluding bonus?
If this is excluding bonus, then are we saying in 2-3 years a consultant becomes an EM, salary increases from 33l to 140l ? 4x in 3 yrs?
Hey shatakshi i am an engineering student from tier lets say 1.5 college its brand value is pretty good but it is not obviously iit or bits how can i enter into consulting or management also i am right now preparing for deffered mba
Can you please detail about a Treasury, The role and pay?
Nice video..Now I won’t do MBA..
plz tell me what is the working hour in abroad... of mba consultant job
Bhaiya hmara govt job hi shi hai😂😂
Tu Marathi ahea ka???
What was your salary spike next year?
what are your views on sap management consultant.
Yes
Does consultant have week leave?!
Fight off your demons🔥🔥
These jobs are not for everyone
Beautiful
What about managing director?
those are rookie hours
Sure will get MBB partners to work for more hours
Mam i need a carrier advice from you can u pls help
It's better than ca. 😉😂
Definitely everyone preparing for ca, medicine, journalism, science should prepare for 30 L rs. Job in BCG
too much work oof
Mam are you doing 2nd mba and if yes then which business school
Hi Ammu, not sure how you got this idea. No, Im an ISB MBA graduate with a Harvard exchange
4:13
ma'am you are cute
Babe comes to the UK you'll be earning around 100k GBP per annum.
Peanuts when you adjust for cost of living
@@shyampsunder2003 also tax☠️
2:02/