Consulting Management MBB Benefits US offices

Question

Hello - Let's take it an extra mile beyond case practice and interview questions. Benefits are an integral part of any job offer. What do MBB offer their consultants (aside from benefits on flights and hotels):

- Does the company pay for a phone (apparently consultants use their personal phones for business needs) ? do they offer any discounted car insurance?

- I am assuming that they -for sure- offer medical plans and 401K benefits.

- And what about vacations: how many paid time off do they offer for fresh hires (# days)?

Thanks.

Answer 1

Hello!

Indeed, those are also important details.

Disclaimer, consulting is not the best paid job in the word in USD/h, but it boots your career in a way that you can monetize for many many years. That is also something to include in the "economic" analysis!

Anyway, to your points:

Yes, of course. It´s a tool for work
Yes, amazing coverage that I have not found outside consulting honestly
This 100% depends on the location. Each office has their own policies following the market. However, it´s not bad -provided holidays are later respected and you don´t work as a minion from the beach-.

Best,

Clara

Answer 2

1) Yes they provide you with a work phone, plan+data included.

Generally you can choose if you want two (i.e. use your phone for work + personal, or carry around 2 phones. I opted for the latter). If you opt for the latter, some let you buy it off them on the cheap after 2 years.

The phone you get depends on what's in stock and the luck of the draw (I got lucky with an iPhone X around when it was released...others were less lucky)

They also provide headpgones, chargers, etc.

2) Correct - good benefits here

3) ~15 but it really depends on which MBB and the office

Answer 3

Hi there,

typical benefits include:

401k
Health insurance
Office Equipment (phone, computer) and related plans
Travel policy alternatives (travel to other destinations instead of going back home for equivalent amounts)
All points related to travel and card expenditure
Various kind of discounts with partners (depends on the office)
With certain seniority: car usage

Vacation days depend on the country as they are subject to national regulation.

Best,

Francesco

Answer 4

Hi Anonymous,

(specifically speaking for McKinsey)

1) Yes

2) One of best plans you can get

3) Depending on office/country - in most legislations I am aware of, labour laws specify the amount of days off, and obviously McKinsey respects that.

Hope that helps - if so, please be so kind and give it a thumbs-up with the green upvote button below!

Robert

Answer 5

Dear A,

The benefits vary largely from office to office, but they will most probably will include paid phone calls. Actually you should be provided the corporate phone (probably iPhone of the latest model), you will also insured medically and receive a retirement plan insurance. Paid vacation differs from office to office - from 14 up to 28 days (in Germany, for example). Some locations also offer corporate cars, which is pretty common in Central Europe. Other locations, like the Middle East, are also offering an apartment allowance, basically paying partly for you flat.

Hope, it helps,
If you need any help or further advice, would be happy to help you.

Best,
André