McKinsey Salary 2023: The Ultimate Guide

At McKinsey, the salary for entry-level consultants (Analysts) ranges from $90,000 to $110,000 per year, while the figure for MBA-level/experienced Associates can go up to $233,000. Engagement Managers typically earn around $250,000, while Partners and Directors can earn up to $1,300,000.

Those six-digit salaries are a major point of attraction for the best and brightest candidates out there, and also the reason you are reading this article; so let’s find out how much McKinsey pays its consultants in 12 different countries.

McKinsey Analyst salary

McKinsey Analysts in the US may earn up to $100,000 per year in salary, with a $88,000 base and a $15,000 performance bonus. In other developed countries, the salary fluctuates around $80,000, while in developing nations such as India, the number is roughly $25,000-$30,000 (profit sharing not included).

McKinsey Analyst salary (2020)

• Base: $88,000 (Canada: CA$82,000, UK: £45,500, India: ₹1,635,000, China: ¥290,000)
• Performance Bonus: up to $15,000 (UK: £5,000, India: ₹450,000)
• Profit Sharing: up to $10,000 (China: ¥48,000)
• Retirement: 7% annual contribution every year to 401K plan
• Signing Bonus: $5,000 (UK: £3,000)
• Relocation: $2,000-10,000
• Total Annual Salary: up to $113,000

McKinsey Analyst salary (2016)

McKinsey Analyst Salary in 7 countries – 2016 – in US Dollar Equivalents

(Profit Sharing is not counted in this table due to inconsistent data; one-time/irregular payments such as signing bonuses and relocation are not included)

McKinsey Associate salary

McKinsey Associate salary (2020)

McKinsey Associates in the US may earn up to $200,000 per year in salary, with a $168,000 base and a $35,000 performance bonus. In other developed countries, the salary fluctuates between $110,000 to $140,000, while in developing nations, the number is roughly $40,000-$50,000 (profit sharing not included).

• Base: $168,000 (UK: £84,000) (China: $116,000)
• Performance Bonus: up to $35,000
• Profit Sharing: up to $30,000
• Retirement: 7.5% into 401k
• Signing Bonus: $30,000
• Relocation: $2,000-9,000
• Total Annual Salary: up to $113,000

McKinsey Analyst salary (2016)

McKinsey Analyst Salary in 7 countries – 2016 – in US Dollar Equivalents

(Profit Sharing is not counted in this table due to inconsistent data; one-time/irregular payments such as signing bonuses and relocation are not included)

McKinsey Engagement Manager salary

McKinsey Engagement Managers in the US may earn up to $250,000 per year in salary, with a $175,000 base and a $77,000 performance bonus. In other developed countries, the salary fluctuates between $170,000 to $200,000, while in developing nations, the number is roughly $80,000 to $100,000 (profit sharing not included).

McKinsey Engagement Manager salary (2020)

• Base: $175,000
• Performance Bonus: Up to $77,000
• Profit Sharing: $30,000
• Total Annual Salary: up to $282,000

McKinsey Engagement Manager salary (2016)

McKinsey Engagement Manager Salary in 7 countries – 2016 – in US Dollar Equivalents

(Profit Sharing not counted in this table due to inconsistent data;
one-time/irregular payments such as signing bonus and relocation are not included)

McKinsey Partner & Director salary

McKinsey Partners and Directors in the US may earn up to $1,300,000 per year in salary, with a $1,000,000 base and $300,000 performance bonus.

McKinsey Partner & Director salary (2020)

• Base: $572,000 – $1,000,000
• Performance Bonus: Up to $252,000 – $300,000
• Total Annual Salary: up to $1,300,000

McKinsey Associate Partner salary (2016)

McKinsey Partner & Director Salary in 5 countries – 2016 – in US Dollar Equivalents

(Profit Sharing is not counted in this table due to inconsistent data; one-time/irregular payments such as signing bonus and relocation are not included)

How to get into McKinsey?

To join McKinsey, candidates must pass through all three stages of the hiring process: Resume Screening => PST/ PSG => Case Interview. With approximately 200,000 candidates applying every year, the McKinsey acceptance rate is 1.1%.

Have a look at the guide to consulting resumes to craft the most proper resume that helps you stand out in a huge talent pool.

Check out the ultimate introduction to PST (Problem-Solving Test) and PSG (Problem-Solving Game), especially the latter one. Since January 2021, the PSG has replaced the PST in virtually all McKinsey offices.

And the most important and difficult part of the hiring process is Case Interview that determines whether you land an offer at McKinsey. Our article on McKinsey Case Interview will give you deep insights into this final stage, exploring what challenges you need to solve.