McKinsey & Company consultant salary 2026: what MBA & Master’s graduates earn

McKinsey & Company is one of the most popular career destinations for aspiring consultants, ranking among the top employers of MBA graduates globally.

McKinsey recruits from many of the top US business schools, such as Columbia Business School and the University of Chicago Booth School of Business, as well as European business schools including the likes of INSEAD and London Business School.

Although McKinsey froze starting salaries in 2026, it still offers industry-leading pay packages for MBA and master’s graduates. 

So what do you stand to earn at McKinsey after leaving business school?  

Considering A Career In Consulting? 

Download Our Free Business Careers Guide 

What salary do McKinsey consultants earn?

McKinsey consultant salary prospects are particularly strong for MBA graduates, who can expect a base salary of $192,000. Master’s graduate salaries stand at around $112,000. 

But compensation doesn’t end at salary. MBA graduates at McKinsey can earn performance bonuses of up to $40,000 and a signing bonus of $30,000. This means the total average compensation for MBA consulting hires at McKinsey is $267,000. That’s slightly lower than the other Big Three consulting firms—the average figure at Bain is $285,000, while at BCG it’s $267,500.

For master’s graduates, performance bonuses are capped at $18,000, with a signing bonus of $5,000. Total compensation for master’s-level consulting hires at McKinsey is around $135,000, compared to $139,500 at Bain and $137,000 at BCG.

McKinsey consultant salaries and bonuses tend to grow by 10 to 20% each year, according to Management Consulted. Two to three years after joining the company, MBA hires could be earning around $230,000 in base salary and receive an additional $100,000 to $140,000 in bonuses. 

A McKinsey associate principal salary sits between $275,000 to $350,000, while McKinsey partner salary prospects start between $375,000 and $450,000 at junior level, going up to $500,000 to $700,000 for a senior partner. At that level of seniority, bonuses can exceed $500,000.

What's a career at McKinsey like

McKinsey has previously ranked among Glassdoor's top companies to work for, owing partly to its generous pay and perks.

Both MBA and master’s-level hires at McKinsey get 19 days of PTO every year. They could also receive up to $10,000 for relocation costs. 

McKinsey will also pay 50% of remaining MBA tuition fees for interns. The firm makes a 401k retirement contribution of 7.5% for master's and MBA consultants.

Former McKinsey consultants say the learning doesn't stop once you've landed a job at McKinsey. Anna Navratil, Emory Goizueta MBA, said: “You’re using the summer to really build those relationships. Bring your full self—a lot of people see the internship as the company deciding if you’re right for them, but it works the other way too. The big things to focus on are coming in prepared to learn and grow; having the humility to know you don’t understand everything; and tapping into the broader network of the firm.”

How do McKinsey consultant salaries grow over time

How to get hired by McKinsey

We asked Sydney Streets, senior manager of North America recruitment for McKinsey, what the firm looks for in consultant hires.

“We’re excited about candidates with a wide variety of experiences, not just experience related to business. This includes internships, research, volunteer work, part-time jobs, and military service,” Sydney explains. 

McKinsey remains committed to inclusive leadership and looks for people who practice it in the workplace. Key to the firm’s hiring plans are individuals who bring a diverse range of perspectives to their role.

“We’re excited to hire stellar talent to all of our global offices,” says Sydney. “Across our campus recruiting efforts, we’re focused on ensuring we’re reaching and recruiting exceptional talent no matter their school or prior experiences.” 

Given the ever-advancing march of technology across all sectors, digital skills are vital in consulting too. It means that McKinsey is seeing an increasing number of candidates with programming and coding skills. 

“Digitization is changing the consulting industry and therefore technology and digital skills are more necessary at McKinsey,” says Sydney. 

The data in this article was sourced from Management Consulted’s 2026 Consulting Salary Report.The salary figures in this article are for those joining management consulting positions in 2026. This article is updated annually.