One 2019 report suggests that newly hired graduates at McKinsey earn a base salary of USD $85,000 (AUD $125,000, as of September 2019), with the company also offering up to $20,000 in bonuses and $2,000 to $10,000 in relocation assistance.
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.
Highest Paying Graduate Jobs In Australia (2023)
Elite consultancies like McKinsey and Boston Consulting Group, for example, are reportedly offering grads a starting salary exceeding $130,000 along with super, sign-on bonus, and performance bonus.
The average salary for Graduate Consultant is $68,000 per year in the Australia. The average additional cash compensation for a Graduate Consultant in the Australia is $3,000, with a range from $2,000 - $4,000.
Average graduate salaries at the Big 4
Graduate salaries at the Big 4 can vary depending on the service line you work in and the job you're doing. In a broad sense, you could expect to be earning anywhere between $45,000 and $75,000, but this can even be different from city to city.
Deloitte Salary FAQs
How does the salary as a Graduate Analyst at Deloitte compare with the base salary range for this job? The average salary for a Graduate Analyst is $69,128 per year in Australia, which is 13% higher than the average Deloitte salary of $61,000 per year for this job.
Average Australian Salaries in 2023
A taxable income that was $131,501 or higher was within the top 10% of earners in Australia last year. About 5% of taxpayers had incomes above $180,000. Someone who earned more than $253,066 was in the top 1%.
How does the salary as a Graduate Student at PwC compare with the base salary range for this job? The average salary for a Graduate Student is $68,500 per year in Australia, which is 14% higher than the average PwC salary of $60,000 per year for this job.
The estimated base pay is A$65,000 per year. The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role.
The average salary for a Graduate Consultant is $68,000 per year in Australia, which is 4% higher than the average KPMG salary of $65,000 per year for this job.
McKinsey & Company Consultant salary in India ranges between ₹ 13.5 Lakhs to ₹ 60.0 Lakhs with an average annual salary of ₹ 34.5 Lakhs. Salary estimates are based on 72 McKinsey & Company latest salaries received from various employees of McKinsey & Company.
The highest-paying job at McKinsey & Company is a Managing Director with a salary of ₹366.2 Lakhs per year. The top 10% of employees earn more than ₹47.55 lakhs per year. The top 1% earn more than a whopping ₹123.79 lakhs per year.
The average salary for a Junior Associate is $109,000 per year in Australia, which is 21% lower than the average McKinsey & Company salary of $138,750 per year for this job.
In terms of base pay, Bain and McKinsey both start at $192K, with the Boston Consulting Group (BCG) trailing close behind at $190K. That's a near 10% increase over last year, where MBB bases averaged $175K. For sign-on bonus, new MBA hires collect $30K at each firm.
It receives hundreds of thousands of job applications which means chances are slim that your application will be successful. However, if you have an excellent academic record, and can prove you have strong communication and analytical skills, you just might make the cut. The hiring process at McKinsey is quite intense.
McKinsey Consultant Salary & Bonuses
MBA graduates at McKinsey can earn performance bonuses up to $45,000, and a signing bonus of $30,000. For master's graduates, performance bonuses cap at $30,000, with a signing bonus of $5,000.
In that survey, which had a sample size of more than 130,000 recent graduates, those who studied dentistry had the highest full-time salary straight out of university at $100,000. The second highest paying graduate roles were in medicine, with a median salary of $79,000, followed by social work on $75,000.
Average KPMG Senior Consultant yearly pay in Australia is approximately $92,970, which is 8% below the national average.
The average graduates salary in Australia is $75,000 per year or $38.46 per hour. Entry-level positions start at $65,000 per year, while most experienced workers make up to $91,360 per year.
EY Salary FAQs
How does the salary as a Graduate Consultant at EY compare with the base salary range for this job? The average salary for a Graduate Consultant is $68,000 per year in Australia, which is 8% higher than the average EY salary of $62,750 per year for this job.
The typical ANZ Graduate Student salary is $68,500 per year. Graduate Student salaries at ANZ can range from $60,933 - $87,000 per year.
The highest paying jobs at Pwc are director, advisory project manager, requirements manager, and computer systems analyst. Director jobs at Pwc earn an average yearly salary of $171,913, Pwc advisory project manager jobs average $136,075, and Pwc requirements manager jobs average $133,242.
So if you're on $100k or more, congratulations, you're in the top 20% of Aussie income earners. If not, don't worry, you're in the good company of 80% of Aussies.
The average Australian would need to earn over $300,000 a year to consider themselves as officially "rich", new research has found.
Is $100,000 salary good in Australia? Given that 50% of the population is earning less than $79,800, a salary of $100,000 puts you in the top half.