How much does a McKinsey Engagement cost?

How much does a McKinsey Engagement cost?

The daily rate for a McKinsey associate partner working as engagement director ranges from $10,000 to more than $13,000, ahead of a McKinsey engagement manager’s daily rate of $9000 to $10,000 and the firm’s consultants (associate/business analyst) rate of between $660 to about $5500.

How much does McKinsey charge per week?

Hiring McKinsey is a famously expensive proposition, even when compared with its leading competitors. A single junior consultant — typically a recent college or business school graduate — runs clients $67,500 per week, or $3.5 million annually. For $160,000 per week, you get two consultants, the second one mid-level.

How much does a management consultant charge?

Management consultants charge between $100 to $350 per hour.

What is a typical consulting fee?

“The market rate” is the average price and range of pricing a typical customer will pay for your type of consulting service. If the average business consultant charges and receives $100 per hour, than the “market rate” is likely between $50 to $150 per hour.

How much does an engagement manager at McKinsey make?

McKinsey Engagement Managers in the US may earn up to $250,000 per year in salary, with $175,000 base and $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).

How much revenue does McKinsey make?

McKinsey is a management consulting firm with offices in 65 countries and annual revenue estimated at $10 billion; as a private corporation owned by high-level employees, it doesn’t disclose financial data.

How much do companies pay McKinsey?

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.

How are professional fees calculated?

To calculate an hourly rate, divide the cost of the project by the number of hours you will need to complete it. To do this, multiply the number of days you will take by 8, which are the approximate hours you are going to work per day.

Can you join McKinsey as an engagement manager?

Engagement Managers join our global offices and practices to work in teams and directly with our clients. When you join McKinsey as an Engagement Manager, you are joining a firm that will challenge you and invest heavily in your professional development.

What is the average salary of a McKinsey consultant?

McKinsey & Company Consulting Salary McKinsey 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.

What is the average consulting engagement value?

Here’s how the numbers break down for the average consulting engagement value: 1 22.24\% – $500-$2000 USD 2 18.25\% – $2001-$5000 USD 3 16.54\% – $5001-$10,000 USD 4 14.83\% – $20,001-$50,000 USD 5 12.74\% – $10,001-$20,000 USD 6 7.79\% – $100,000+ USD 7 7.60\% – $50,001-$100,000 USD

How much does it cost to hire a management consulting firm?

There is a pretty big range if you are hiring one of the Big 4 consulting firms (McKinsey, Booze Allen, Accenture, Deloitte) compared to a small boutique firm or an independent management consultant. You can expect the hourly rate to start at $350.

How much does a consulting firm make on a 12-week case?

For our example, let’s pick a simple round number to work with: $1,000,000. So, regardless of outcome, unless there is some rare breach of contract from the client or the firm waives the fee, the consulting firm will make $1,000,000 for this 12-week case. Now, let’s look at the cost side.