- October 30, 2026
- 3 min read
What can you earn at a Big Three consulting firm? McKinsey, Bain and BCG increase starting salaries
Starting salaries at the Big Three consulting firms of McKinsey, Bain, and Boston Consulting Group have increased for the first time since 2022, as hiring becomes more competitive
Molly Baker
Published in
Employers & Salaries
McKinsey, Bain, and BCG are increasing starting salaries for consultants for the first time since 2022 ©Web Summit
TL;DR
- The Big Three consulting firms, McKinsey, Bain, and Boston Consulting Group are increasing starting salaries for consultants by between $8,000 and $10,000
- This takes base pay for pre-MBA hires to $120,000, while starting salaries for post-MBA hires will be $200,000
- This marks the first time the Big Three have increased starting salaries since August 2022, driven by heightened competition
The Big Three management consulting firms—McKinsey, Bain, and the Boston Consulting Group—are increasing starting salaries for consultants by between $8,000 and $10,000, according to a new report by Management Consulted.
Based on salary data and verified by incoming consultant acceptance letters, the increase marks the first time the Big Three consulting firms, also known as MBB, have upped starting salaries since August 2022.
McKinsey, Bain, and BCG are often ranked among the best consulting firms to work for globally. Thanks to the diverse work opportunities they offer and sky-high MBA consulting salaries, they are among the most attractive companies for MBA and business master’s graduates.
While for a long period these firms would typically increase base pay year-on-year, MBB starting salaries froze for three consecutive years. This was largely due to slower growth across the industry following a boom period during the pandemic, as well as heightened competition for new hires from competitors in the finance and technology sectors.
However, competition for talent is increasing as tech and AI labs continue hiring, and strong demand across the consulting industry means starting salaries are increasing for 2027.
McKinsey, Bain, and BCG are increasing starting salaries for MBA consultants by between $8,000 and $10,000, bringing the starting salary for MBA hires at all three firms to $200,000.
Starting salaries for master’s graduates are also rising by $8,000 to $10,000, for a total base pay of $120,000 across the MBB. While base pay for MBA hires is increasing between four and five percent, starting salaries for pre-MBA talent is up by between seven and nine percent.
The first time the Big Three have increased starting salaries since 2022, this increase reflects strong demand for consulting services. Competition for talent is one of the biggest drivers of this demand, both from inside and outside the industry.
Within the consulting industry itself, MBB consulting salaries are becoming more competitive to stay ahead of other firms, including Deloitte, EY, and the rest of the Big Four—primarily accounting firms, but all with large professional services arms—and boutique consulting firms.
Competition is increasing across the wider hiring landscape. Following a sustained period of headcount reductions, tech firms are beginning to increase hiring, largely from the same MBA and master’s talent pool. Meanwhile, AI labs are now recruiting the same top talent as MBB.
A starting salary of $120,000 is top of the market for pre-MBA hiring, and higher pay may attract even more applicants. For MBA hires, the new base pay at all three firms is $200,000—however, hiring at many firms has shifted toward pre-MBA talent.
While this is good news for business master’s graduates looking to launch a career in consulting, this doesn’t necessarily mean the MBB are hiring fewer MBAs. Studying an MBA remains still a viable path into a career in consulting.
While AI has helped consultancies automate some tasks, elite consulting firms have said they will continue to hire business school graduates. McKinsey’s North American boss Erich Kutcher said the firm plans to hire 12% more new consultants in 2027, with 85 percent to 90 percent of hires continuing to come from campuses.
Based on salary data and verified by incoming consultant acceptance letters, the increase marks the first time the Big Three consulting firms, also known as MBB, have upped starting salaries since August 2022.
McKinsey, Bain, and BCG are often ranked among the best consulting firms to work for globally. Thanks to the diverse work opportunities they offer and sky-high MBA consulting salaries, they are among the most attractive companies for MBA and business master’s graduates.
While for a long period these firms would typically increase base pay year-on-year, MBB starting salaries froze for three consecutive years. This was largely due to slower growth across the industry following a boom period during the pandemic, as well as heightened competition for new hires from competitors in the finance and technology sectors.
However, competition for talent is increasing as tech and AI labs continue hiring, and strong demand across the consulting industry means starting salaries are increasing for 2027.
What are the starting salaries at McKinsey, Bain, and BCG?
McKinsey, Bain, and BCG are increasing starting salaries for MBA consultants by between $8,000 and $10,000, bringing the starting salary for MBA hires at all three firms to $200,000.
Starting salaries for master’s graduates are also rising by $8,000 to $10,000, for a total base pay of $120,000 across the MBB. While base pay for MBA hires is increasing between four and five percent, starting salaries for pre-MBA talent is up by between seven and nine percent.
The first time the Big Three have increased starting salaries since 2022, this increase reflects strong demand for consulting services. Competition for talent is one of the biggest drivers of this demand, both from inside and outside the industry.
Within the consulting industry itself, MBB consulting salaries are becoming more competitive to stay ahead of other firms, including Deloitte, EY, and the rest of the Big Four—primarily accounting firms, but all with large professional services arms—and boutique consulting firms.
Competition is increasing across the wider hiring landscape. Following a sustained period of headcount reductions, tech firms are beginning to increase hiring, largely from the same MBA and master’s talent pool. Meanwhile, AI labs are now recruiting the same top talent as MBB.
What does this rise mean for MBA and master’s students?
As base pay at McKinsey, Bain, and BCG increases, so does the competition to land a role at these top consulting firms.A starting salary of $120,000 is top of the market for pre-MBA hiring, and higher pay may attract even more applicants. For MBA hires, the new base pay at all three firms is $200,000—however, hiring at many firms has shifted toward pre-MBA talent.
While this is good news for business master’s graduates looking to launch a career in consulting, this doesn’t necessarily mean the MBB are hiring fewer MBAs. Studying an MBA remains still a viable path into a career in consulting.
While AI has helped consultancies automate some tasks, elite consulting firms have said they will continue to hire business school graduates. McKinsey’s North American boss Erich Kutcher said the firm plans to hire 12% more new consultants in 2027, with 85 percent to 90 percent of hires continuing to come from campuses.
Molly Baker
Published in
Employers & Salaries
Molly is a Writer and Content Producer for GMAC. She has an M.A. in Magazine Journalism and a B.A. in English Literature and Creative Writing from Cardiff University.
