McKinsey & Company Mumbai Associate Salaries by 50+ Employees (Updated 2025)

1 - 8 years exp.

₹20.5 Lakhs - ₹66 Lakhs

Avg. annual salary

Monthly In-hand Salary

531% more than the average Associate Salary in Management Consulting Companies for 1 - 8 years of experience

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Salaries in different departments

Consulting Associate Salary 1 - 8 years exp. (11 salaries)	₹23 L/yr - ₹65 L/yr
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Strategic & Top Management Associate Salary 2 - 7 years exp. (5 salaries)	₹41 L/yr - ₹61.2 L/yr

Last Updated: 3 Apr 2025

Companies similar to McKinsey & Company for Associate in Mumbai

McKinsey & Company Associate Salary

1 - 8 years exp. (50 salaries)

₹20.5 L/yr - ₹66 L/yr

Company name	Avg Annual Salary	Open Jobs
PwC Associate Salary 0 - 8 years exp. (1.7k salaries)	₹5.3 L/yr - ₹20 L/yr 77% less	176 job openings
Ernst & Young Associate Salary 0 - 7 years exp. (317 salaries)	₹10.1 L/yr - ₹20 L/yr 76% less	38 job openings
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KPMG India Associate Salary 0 - 6 years exp. (77 salaries)	₹5.7 L/yr - ₹20 L/yr 75% less	1 job opening
Willis Towers Watson Associate Salary 0 - 6 years exp. (73 salaries)	₹2 L/yr - ₹6 L/yr 92% less
VISTRA INTERNATIONAL EXPANSION Associate Salary 1 - 9 years exp. (45 salaries)	₹2.5 L/yr - ₹5 L/yr 92% less
Deloitte Associate Salary 0 - 5 years exp. (43 salaries)	₹5.9 L/yr - ₹12.6 L/yr 83% less
Kearney Associate Salary 2 - 8 years exp. (36 salaries)	₹21 L/yr - ₹65 L/yr 9% less
Alvarez & Marsal Associate Salary 0 - 5 years exp. (25 salaries)	₹10 L/yr - ₹20 L/yr 73% less	2 job openings
BCG Associate Salary 0 - 4 years exp. (24 salaries)	₹9.1 L/yr - ₹27.2 L/yr 65% less
Bain & Company Associate Salary 0 - 5 years exp. (13 salaries)	₹13 L/yr - ₹25 L/yr 64% less	6 job openings
ZS Associate Salary 0 - 4 years exp. (12 salaries)	₹8 L/yr - ₹14.9 L/yr 73% less	1 job opening
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Gerson Lehrman Group Associate Salary 0 - 4 years exp. (8 salaries)	₹6.3 L/yr - ₹10 L/yr 84% less
Mercer Associate Salary 9 - 12 years exp. (6 salaries)	₹17 L/yr - ₹40 L/yr 34% less
Frost & Sullivan Associate Salary 0 - 2 years exp. (4 salaries)	₹4.8 L/yr - ₹6.5 L/yr 89% less
RSM US in India Associate Salary 1 - 3 years exp. (4 salaries)	₹5.5 L/yr - ₹11.9 L/yr 79% less	6 job openings

Associate salary at McKinsey & Company ranges between ₹20.5 Lakhs to ₹66 Lakhs per year for employees with experience between 1 year to 8 years. Salary estimates are based on 50 latest salaries received from various employees of McKinsey & Company.

Latest annual salaries shared by McKinsey & Company Associate in Mumbai

4d ago

₹32 Lakhs

7 years exp.

1w ago

₹65 Lakhs

8 years exp.

2w ago

₹60 Lakhs

2 years exp.

4w ago

₹56 Lakhs

4 years exp.

1mo ago

₹55 Lakhs

6 years exp.

1mo ago

4 years exp.

1mo ago

6 years exp.

1mo ago

3 years exp.

1mo ago

5 years exp.

1mo ago

6 years exp.

Experience wise McKinsey & Company Associate salaries in Mumbai

Last Updated: 3 Apr 2025

Experience	Avg Annual Salary
1 year (AmbitionBox Estimate)	₹45 L/yr - ₹57.5 L/yr
2 years (9 salaries)	₹23 L/yr - ₹60 L/yr
Login to view exact salary
3 years (10 salaries)	₹20.5 L/yr - ₹66 L/yr
4 years (12 salaries)	₹30 L/yr - ₹63 L/yr
5 years (7 salaries)	₹37 L/yr - ₹61.2 L/yr
6 years (4 salaries)	₹44 L/yr - ₹56.5 L/yr
7 years (4 salaries)	₹32 L/yr - ₹55 L/yr
8 years (AmbitionBox Estimate)	₹48.7 L/yr - ₹53.9 L/yr

View all

Similar Designation salaries in McKinsey & Company

Senior Associate Salary

(12 salaries)

₹24 L/yr - ₹72 L/yr

Senior Consultant Salary

(9 salaries)

₹20 L/yr - ₹47.22 L/yr

Associate Consultant Salary

(8 salaries)

₹18 L/yr - ₹56 L/yr

Top skills at McKinsey & Company for Associate

Bank Reconciliation General Accounting Finance P2P Invoice Processing

Salary related reviews for McKinsey & Company

4.2

Rated by 2 employees for salary & benefits

Associate (working remotely)

Full Time

Project & Program Management Department

2.0

• posted on 28 Jul 2023

5.0

for Salary and Benefits

Likes

Great benefits and salary. Smart people

Salary - Excellent

+1 more

Dislikes

Shoving people under the bus is something that happens recurrently, there is no coaching, people will change huge demands just because they want to and you have to be able to deliver. WLB is non existing. People are always sick or burnout

Company culture - Poor

+1 more

Junior Associate in Mumbai

Full Time

Consulting Department

1.0

• posted on 09 Jun 2024

5.0

for Salary and Benefits

Likes

Good salary and benefits, specifically for the consulting path

Salary - Excellent

Dislikes

Up or out culture where progression depends on having “sponsors” within the Firm who are willing to staff you; in fact, there is no other way to get staffed on projects except finding these sponsors since there are so few projects (most are lost to BCG, some never come due to deteriorating quality)

Job security - Bad

+4 more

Manager in New Delhi

Full Time

Finance & Accounting Department

2.0

• posted on 26 Mar 2024

5.0

for Salary and Benefits

Likes

Pay and benefits

Salary - Excellent

Dislikes

Disgusting work culture. Too much politics at mid to senior level. You need to gang up to survive in this company. There is a condescending attitude towards new hires. They firmly believe that they are doing a favour to you by hiring you. They even cut your designation when hiring to prove as if they are some sort of God. The environment is like the movie Hunger games. If you don’t have support of the big group or some senior partner, even the smallest mistake will be viewed very harshly and rudely. They will create a situation where you will be compelled to resign. Everyone is in survival mode to protect the “partner compensation” during this current global economic situation. They will not bat an eye to give a poor rating to highly capable and highly experienced people on some silly excuse. Then they will claim that the person didn’t meet the performance standards. The entire 360 degree review system here is a facade. It can be manipulated to save you hide or send you to the gallows.

Skill development - Bad

+5 more

Financial Associate in Chennai

Full Time

Finance & Accounting Department

5.0

• posted on 24 Aug 2023

4.0

for Salary and Benefits

Likes

...re is impressive. And you can work in a very flexible setup. It is hybrid model. Free meal pass is provided every month apart from salary.cab pick up and drop available. Colleagues are fun and supportive.

Salary - Good

+6 more

Dislikes

Very competitive environment. Need to upgrade your skills to survive. Hike percentage is low on yearly basis.

Business Presentation Specialist in Bangalore / Bengaluru

Full Time

Customer Success, Service & Operations Department

2.0

• posted on 07 Jan 2023

2.0

for Salary and Benefits

Likes

desk job. good start for a fresher

Job security - Good

Dislikes

...ality its a biased place. those who the manager likes will move to better roles. salary and Hike is less when compared to same profiles on other companies

Salary - Poor

+4 more

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Salary Discussions, Hike & Promotions

My current CTC is ₹7,80,660, which includes a ₹1,32,000 night shift allowance, and my monthly take-home pay is ₹72,133. I have received a new job offer with a CTC of ₹10,67,231, a monthly take-home pay of ₹83,333, and 192 restricted stock units (each valued at $60, vesting 25% after one year and quarterly thereafter). This new position is closer to my home and does not involve night shifts. The offer letter is attached. I have also requested a ₹95,000 monthly salary increase and am awaiting their response. Could someone advise me on whether I should accept the new offer or remain in my current role?

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McKinsey & Company Associate Salary FAQs

What is the salary of Associate at McKinsey & Company in Mumbai?

The average salary of a Associate at McKinsey & Company in Mumbai typically ranges from ₹20.5 Lakhs to ₹66.0 Lakhs per year, depending on experience (from 1 year to 8 years).

The top 10% of Associate in Mumbai at McKinsey & Company earn more than ₹60.0 Lakhs per year, and the top 1% earn over ₹66.0 Lakhs per year. Associate Salaries at McKinsey & Company can be higher or lower depending on factors such as the specific team, level of experience, and additional benefits like bonuses and stock options.

These estimates are based on salary data submitted by 50+ McKinsey & Company employees in India.

What is the estimated take home salary of a Associate at McKinsey & Company in Mumbai?

The estimated take-home salary of a Associate at McKinsey & Company in Mumbai typically ranges from ₹2,95,597 to ₹3,07,288 per month. This is based on the average salary range of ₹20.5 Lakhs to ₹66.0 Lakhs per year for employees with experience ranging from 1 year to 8 years.The take-home salary is calculated after accounting for standard deductions such as taxes, provident fund (PF), and insurance. Salary estimates are based on 50+ salaries received from various employees of McKinsey & Company. Check how we calculate in-hand salary with our in-hand salary calculator.

What are the key skills required to be a Associate at McKinsey & Company in Mumbai?

To be a Associate at McKinsey & Company in Mumbai, the key skills required include:

- Bank Reconciliation
- General Accounting
- Finance
- P2P
- Invoice Processing

These skills are highly valued at McKinsey & Company and are crucial for successful performance in a Software Engineering role.

What is the salary of a Associate in companies similar to McKinsey & Company in Mumbai?

The salary of a Associate at companies similar to McKinsey & Company in Mumbai varies, depending on the role, experience, and company size. Here are the typical salary ranges:

Kearney	₹21.0 Lakhs to ₹65.0 Lakhs per year
Mercer	₹17.0 Lakhs to ₹40.0 Lakhs per year
Bain & Company	₹13.0 Lakhs to ₹25.0 Lakhs per year
BCG	₹9.1 Lakhs to ₹27.2 Lakhs per year
ZS	₹8.0 Lakhs to ₹14.9 Lakhs per year

These companies, which operate in similar sectors, offer competitive salaries, although the range can vary based on the company and individual experience levels.

How the salary growth look like for a Associate at McKinsey & Company in Mumbai?

The salary growth for a Associate at McKinsey & Company in Mumbai depends on factors such as experience, performance, and promotions. On average, a Associate in Mumbai can expect the following growth trajectory at McKinsey & Company:

Experience	Average Salary Range
1 year	₹45.0 Lakhs to ₹57.5 Lakhs per year
2 years	₹23.0 Lakhs to ₹60.0 Lakhs per year
3 years	₹20.5 Lakhs to ₹66.0 Lakhs per year
4 years	₹30.0 Lakhs to ₹63.0 Lakhs per year

and so on.

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McKinsey & Company Associate Salaries in Mumbai

McKinsey & Company Associate salary in Mumbai ranges between ₹20.5 Lakhs to ₹66 Lakhs with an average annual salary of ₹. Salary estimates are based on 50 McKinsey & Company latest salaries received from various employees of McKinsey & Company.