MBB offer call

Hi there,

Q1: I anticipate a fixed + variable salary without sign-in or relocation bonuses, considering the norms in my European location. Do you think there is room for negotiation?

Salary (both fixed and variable) is standardized by tenure at MBB so unfortunately you can't negotiate anything there. On the other hand, you have more space to negotiate the sign-in bonus, specially with your experience.

Additionally, I'm hesitant due to concerns about the job's fast-paced and stressful nature, fearing it might impact my mental health and that I won't be able to keep up. I've read multiple feedbacks on platforms like Glassdoor and here as well, raising some doubts. Any suggestions on better preparing for the job or addressing these concerns? Your insights would be valuable.

Platforms like Glassdoors collect feedback mainly from unhappy employees. It is true that the demand level is higher than in other companies but do not worry for something you don't know if it will happen to you yet.

Several reflections on how to manage mental health at MBB:

• Reflect frequently (weekly if possible) on your operating model, your stress levels and how you feel. Take action to manage this early on
• Who you work with is the most important lever to manage your mental health. Meet a lot of people and push to work with whoever you feel comfortable and share similar values
• Protect three things as if your life depends on it: enough sleep, healthy food and regular sports. Make this your number one priority over work

Good luck on your new role!

Alberto

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Check out my latest case based on a real MBB interview: Sierra Springs

Hi there,

First of all, congratulations on the offer!

I would be happy to share my thoughts on your situation:

• First of all, regarding salary negotiation, it's important to understand that while consultiung firms have structured salary bands, there's often some flexibility for compensation-related benefits and one-time bonuses. I have written an article exactly on that which you may find here: Consulting Salaries in Germany.
• Moreover, it's understandable to be concerned about the pace and stress associated with consulting roles. To better prepare, focus on developing a robust support network, both professionally and personally. This network can provide advice, share coping strategies, and offer an outlet for stress. Additionally, improving time management and prioritization skills can significantly help manage workload and stress levels.

If you would like a more detailed discussion on your specific situation, please don't hesitate to contact me directly.

Best,

Hagen

Woohoo! Congrats on the offer! Well done!

What to expect/prepare

A personal, genuine call that's there for you. Ask what you need to know. Be ready to answer salary expectations of course.

Prepare your BATNA. Prepare your counter-offer + response to their responses to your counter offer.

Get a Coach

30 minutes with a coach to make sure negotiations are optimal…sounds like $ well spent. I've negotiated every offer I've received….just the BCG one I negotiated to get $20k more.

Room for NEgoation?

Yes. Always. Especially for an external hire. Get professional support to make sure you're doing it right.

Preparing for Job.

Here's some reading to help:

Consulting Survival Guide - Tips for Your Consulting Career
 

The Pros and Cons of Working at a Top Consulting Firm

Hi there,

Congrats! :-)

What to expect?

A friendly call where the recruiter guides you through the contract, and starting dates, and answers your questions.

Is there room for negotiation?

Only if you have to relocate. That's when a relocation allowance should be paid out. For all other things, in Europe, it is fixed.

How to prepare for the job?

I wrote a book on that topic. It's called Consulting Career Secrets and is available on Amazon. The objective of the book is to help new hires prepare for the job, find their footing in the industry quickly, and make it a long-term sustainable career.

Last week, I did a live session in collaboration with PrepLounge on the topic as well. You can watch it on the official PrepLounge YouTube Channel: 

https://www.youtube.com/watch?v=4VK8wL_xsmQ

All the best for your start. Exciting times ahead!

Cheers,

Florian

Congrats! This is a cool achievement. 

Regarding the salary, MBBs have fixed bases for the generalist roles. They sometimes negotiate the base if you're going in as a specialist / expert. 

What you can negotiate in most cases is the signing bonus or the relocation bonus. Please reach out to a few new joiners from your target office to find out whether this is something they offer and whether they have any tips on how to negotiate with them. 

In the call with HR, ask questions about the role and the offer. It's an introductory / welcoming call. It's not an evaluation. 

In terms of how to prepare for the job, I wrote two articles on this that you might find useful which contain my learnings from being in McKinsey:

• Expert Guide: How to Become A Distinctive Consultant
• Expert Guide: How to Manage for Lifestyle in Consulting

Best,
Cristian

Hi, 

Congrats on the offer! Here are some quick thoughts:

Negotiating salary

• At MBB, salaries are fixed across tenure/bands
• This means that everyone will get the same base pay + subject to the same variable range
• The most I've heard of is negotiating a sign-on bonus especially if you are not coming from MBA, but this is purely the firm's discretion whether or not to give it to you

Concerns about keeping up with the job

• This is a real concern that you have raised, and something that many consultants (including myself) struggled with
• A few things I think could help
  • Develop a growth mindset early
  • Build a strong support network of peers and friends
  • Seeing a therapist is also something that can be very useful
  • Lastly, recognize that the job is not the be all and end all

All the best!

Hey, congrats on the offer!

Regarding salary negotiation: usually, you don't have much room here since the grade you're offered is determined based on your interview performance. However, you can possibly negotiate a sing-in / relocation bonus. I suggest you speak with someone on the inside in order to figure out if that's possible.

Regarding your on-the-job performance: I suggest you find a mentor within the firm who's willing to both guide you and stick up for you. Consulting is a people's business.

Good luck,
Nick

1. Salary (fixed+variable) is fixed. Don't waste your time negotiating that. You can try to negotiate other things: relocation, sign up bonus, etc. But you have to provide a reason why you NEED those to be different or higher.

2. If you don't keep up… you leave, you ask for some time off, etc. Don't fret about it beforehand. My only suggestion would be to make sure you sleep at least 6 hours every night, unless it is a really critical week.