GoofyHamster
GoofyHamster

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

Post image
15mo ago
QuirkyPretzel
QuirkyPretzel
EY15mo

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?

JumpyPenguin
JumpyPenguin

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

GoofyHamster
GoofyHamster
Swiggy15mo

Nope, don't need a 4 - just a 3 upwards

JumpyPenguin
JumpyPenguin

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

SqueakyPenguin
SqueakyPenguin
Student15mo

What kinda work do you do at Bain??

JumpyPenguin
JumpyPenguin

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

PeppyQuokka
PeppyQuokka
Nomura15mo

This structure is applicable for Associate Consultants as well ? Do they get these type of bonuses as well ?

JumpyPenguin
JumpyPenguin

Yep, everyone has a performance bonus component

FluffyNugget
FluffyNugget
Plivo15mo

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 ?

GoofyHamster
GoofyHamster
Swiggy15mo

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

FluffyNugget
FluffyNugget
Plivo15mo

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.

JumpyHamster
JumpyHamster

Unpopular opinion, LLMs will displace a good chunk of consultants.

SwirlyPenguin
SwirlyPenguin

Logically they should, along with a large chunk of SDE jobs as well. Probably will happen over the next 5-6 years

JumpyHamster
JumpyHamster

Yes, the first signs is lower hiring of freshers.

What other second order effects you see?

SparklyNugget
SparklyNugget

Is this percentage of the base salary OR percentage of annual total bonus entitlement (like in Law firms)?

GoofyHamster
GoofyHamster
Swiggy15mo

Its % of the performance bonus

PeppyQuokka
PeppyQuokka
Nomura15mo

What is the pay structure for a MBB consultant straight out of IIM A/B/C. What is the fixed pay and bonus breakup?

GoofyHamster
GoofyHamster
Swiggy15mo
WigglyUnicorn
WigglyUnicorn
Meesho15mo

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

DancingBoba
DancingBoba

Can you help me understand what type of work do you do? Also, do you develop technical skills like data analytics?

GoofyHamster
GoofyHamster
Swiggy15mo

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 🤷

BouncyCupcake
BouncyCupcake

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.

Discover more
Curated from across
Layoffs
by BubblyBurritoProduct Owner

Increment this year?

Since we are seeing a lot of layoffs, a lot of companies are using this as an excuse to provide less increment this year. Interested to know what sort of increments are you’ll getting this year and how much did you get last year?

Top comments
user

I got a good hike this year. Around 34% mostly because I got promoted and my hike in the previous year was shit. I wo...

user

28% Base shifted from 7 to 9, Grinding DSA , need to shift asap for 14+ base, Recommendation of companies with pytho...