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Consulting firms freeze starting salaries in bid to shore up profit

McKinsey and BCG among those holding pay at last year’s levels as growth slows
McKinsey pays a base salary of $192,000 for a new recruit from business school, according to Management Consulted

The world’s most prestigious consulting firms have frozen US starting salaries for new graduates, as a war for talent that sent pay soaring after the pandemic gives way to tougher competition for jobs.

McKinsey and BCG are among the firms holding salaries at 2023 levels for undergraduate and MBA students taking up positions next year, according to people familiar with the matter.

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