The trio have delivered one of the biggest salary increases for new MBA hires in more than two decades.
| McKinsey, Bain and Boston Consulting Group have unveiled one of the biggest rounds of pay rises for new hires in more than two decades, as inflation, booming demand for advice and a tight labour market force the trio of consultancies to
“The last time the consulting industry had this level of salary inflation was around the dot.com boom in 1999-2000,” said Fiona Czerniawska, chief executive of Source Global Research, a consulting sector analyst. Corporate law firms have also been locked in an aggressive pay war. Consultants are improving pay and other benefits in response to increasing competition in “a very hot talent market”, said Keith Bevans, partner and head of consultant recruiting at Bain.
Candidates now pay more attention to other benefits but pay is “definitely the biggest factor” in enticing recruits, said Namaan Mian, chief operating officer at Management Consulted, which advises students applying for jobs in the sector.
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