As we reported last year, McKinsey & Co, the strategy consulting firm, has been busy recruiting for an analytics team under McKinsey Solutions, its data, technology and analytics unit. However, McKinsey Solutions isn't the firm's only home for engineering talent: McKinsey has 4,500+ technology staff globally, according to Caitlin Storhaug, its head of recruitment marketing and communications. That makes technologists around 17% of McKinsey's total employees.
How much will you earn as an engineer at McKinsey & Co? And what kind of jobs are you going to do?
Your role as an engineer at McKinsey will depend where in the business you work. Plenty of McKinsey's engineers work with clients to develop software solutions that solve client needs. Others work for specific McKinsey subsidiaries like Finalta (a financial services benchmarking company), Quantum Black its data and analytics subsidiary, or Wave, a program management platform that helps clients undertaking transformation programs.
McKinsey & Co. doesn't divulge salaries for its engineers. However, Paysa, a pay benchmarking website, says the average consulting engineer at the firm earns around $168k.
More accurate and granular figures are available from data provided by McKinsey itself when it applies for H1B visas for its staff. Based on last year's H1B hires, junior engineers at McKinsey can expect salaries of around $90k to $100k, rising to up to $120k for 'engineer II' staff, to $146k for senior engineers. This compares well to specialist engineering consultants: McKinsey hired a cloud consultant on an H1B visa on a salary of $115k in December, for example.
McKinsey's salaries are comparable, if slightly lower, than those offered in banks. Bank of America pays its experienced engineering juniors salaries of $114k in New York City, according to the H1B database. JPMorgan pays its experienced junior technologists around $120k.
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