As a 29 soon to be MBA grad I will be obviously applying to both, and others of course. My topic is rather general - the title merely taking the best of the two groups. The salary difference is vast. Having had ex buddies that last year started at both: Mck for an associate was about 95k complete package, GS was about 140k! The hours were more at GS - but more travel at Mck. And if you go 4 years down the line, the pay gap widens drastically. So why the huge gap? 15 years ago, top strat was in line with top IB... has it now become a tier two job?

Peter,I am in the same boat as you; but on the undergraduate level.I will start in MC most probably.1. 140K in NY/London is the same as 95K in Dallas, Lisbon, etcetera... (That said, I think GS pays more including bonuses.)2. From what people tell me IB at undergrad level should be avoided at all cost. There are limits to slavery. Post-MBA IB may be worth it.3. BCG and Bain care more about work/life balance than McKinsey does.Good luck. And btw, you can not go wrong as long as you stay within first tier in either IB or MC.

wow! do you really earn that much post MBA? Or does that include sign on bonus etc...

I think the standard package for an IB Associate MBA would be about 60+ 60+sign on so yeah that's probably what they make.Why you wouldn't just go in to sales and trading, make the same and have a life god only knows.

you say... 'And if you go 4 years down the line, the pay gap widens drastically.' I'm sorry but earning 95K or 140K at the age of 29 is alot of money and more than what many people will earn in a lifetime so stop being so greedy and appreciate what has been offered to you....I also hope you will do much for the community....:p

A few comments. Firstly i am talking in sterling. Secondly, to the above poster, its not that life has GIVEN me. I have worked infinitely hard at everything i have done - trust me these jobs ( which i still have not got) do not just fall into your lap. And if you studied economics you would see that the high salary is an EFFECT of my positive contribution to the economy and society. ( this comment is obviously Pandora's second box)A VP 4 ( 30 years old) can make up to 600k on average a year. but the profit and share accretion he generates for millions of people is enormous.

Hi Peter,Not trying to annoy you, like the other little poster.I disagree with your statement "the high salary is an EFFECT of my positive contribution to the economy and society". It can be argued that you are wrong from an economics point of view using standard arguments about non-perfect markets and non-efficiency in its pricing structure.If you take a look at non-economic arguments, such as sociology or philosophy (especially the marxist and postmodern strands respectively), well... they can be quite hard on you regarding the reasons of such a high salary. Just a note, I hope this doesn't diverge the initial topic you raised in this subject.

Call me old fashioned but I tend to go for a job that is going to challenge me and interest me. Be this IB, MC or teaching.

Compensation is a poor proxy for value added, especially when you have enough power to engage in rent seeking behaviour.What can I say? It's good to be king.

Forget all that 'you should be grateful for what you've got' nonsense. Chase the dollar, get rich, retire young and live very very well.