Business analysts are what entry-level consultants are known as at companies like McKinsey. To deliver research and insights to clients, business analysts collaborate with colleagues and consultants in teams. They frequently hold degrees in business, economics, or a similar subject and are recent graduates. Business analysts at McKinsey are renowned for their superior analytical capabilities and capacity for teamwork.
It is commonly known that McKinsey pays its consultants quite generously. The typical base income for a business analyst at McKinsey is $83,000 per year, according to Glassdoor. In addition to performance bonuses and other perks, this is offered. Along with other incentives, McKinsey also provides complimentary meals, gym memberships, and other lifestyle advantages.
Associates are the term used by BCG for entry-level consultants. Associates collaborate in groups with managers and other consultants to offer clients insight and recommendations. They frequently hold degrees in business, economics, or a similar subject and are recent graduates. BCG associates are renowned for their capacity for teamwork and problem-solving.
Although an MBA is not a requirement to work at BCG, it is strongly advised. When evaluating candidates for consulting employment, BCG places a high weight on advanced degrees and related professional experience. BCG seeks people from a variety of backgrounds and experiences because it also appreciates diversity.
In conclusion, depending on the company, entry level consultants are often referred to as associates or analysts. For those looking to pursue a career in consulting, these positions serve as the entry point. Business analysts at McKinsey receive excellent compensation, with an average yearly income of $83,000. Although an MBA is not a requirement to work at BCG, it is strongly advised. Ultimately, when looking for people for consulting employment, both organizations prize analytic skills, problem-solving prowess, and teamwork.