Bain adjusts its bonus compensation payout
While actual bonus amount hasn't changed, they've adjusted the % for high performers. 4 raters were previously paid 150% and 5 raters were paid 200%
Not like I had motivation to work hard enough for a 4 anyway but now it's not even worth much lol
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This seems not as bad as the reduction that McKinsey has seen - 50% reduction basis what I read recently in their bonuses
Is 4 mandatory for promotions?
Yep definitely not as bad for sure, I wonder if McKinsey has really seena 50% cut of their entire bonus or just the profit linked component (Bain doesn't have this) - I guess time to reach out to some Mck friends :P
Nope, don't need a 4 - just a 3 upwards
Love how they tried to mask it under a "Congratulations for your hard work" kinda mail 😂
Also low key annoyed to announce this at the end of your performance review, they should've ideally made it effective next year onwards
What kinda work do you do at Bain??
Can be super wide ranging - really depends on the project and client you get assigned to. Each project can be anywhere between 3 months to a year
For eg, right now I'm working for an eCom client helping them with their growth strategy
This structure is applicable for Associate Consultants as well ? Do they get these type of bonuses as well ?
Yep, everyone has a performance bonus component
Not really getting how big the hit is. Like can u give example of ur compensation and what bonus u were expecting but what u’ll get instead ?
You're right, it isn't a big hit for most employees.
But for 5 rater (someone who really outperformed), they would know receive say a 15L bonus vs a 3 rater still gets 10L. In the previous system, outperformers would get a 20L bonus
Woah didn’t know 2 digit bonuses are even possible. Idk the base u guys are getting but a bonus is still a bonus - there’s no guarantee of same or more profit just like stock price.
Unpopular opinion, LLMs will displace a good chunk of consultants.
What is the pay structure for a MBB consultant straight out of IIM A/B/C. What is the fixed pay and bonus breakup?
This should help - https://share.gvine.app/aHkkxqE7CdBwXJXS8
Just to clarify, the percentages being talked about are not on base pay. For a fixed pay of 25LPA, target bonus is 5lakhs. If you get 3 rating, you get 100% of 5Lakhs. If you get 5 rating you get 150% of 5 lakhs = 7.5Lakhs.
McK bonus was cut at 3 rating the most - target bonus reduced by 50%
10-20% cut for us too. Partners and above looking at a 40% hit on their pay
Can you help me understand what type of work do you do? Also, do you develop technical skills like data analytics?
Like target bonus itself was revised or the % payout?
Don't care too much for the partners since they are ultimately responsible for getting in the business 🤷
Are the CTCs quoted for consultants inclusive of the bonus component or is the bonus a separate part?
Shitty marketing of the comp value if it's the first.