It is reasonable to ask, especially when you genuinely prefer the lower-paying firm and the compensation difference is meaningful. The request should be framed as a discussion, not an ultimatum.

Campus and consulting offers can have standardized components, so the recruiter may have limited flexibility. That does not make the question inappropriate if you ask professionally.

Explain that you are excited about the firm, note that another offer is materially higher, and ask whether there is any flexibility in base, signing bonus, or another component.

Decide in advance whether compensation is actually a deal-breaker. If the firm cannot move, you should already know how much the work, office, and people are worth to you. Keep the answer anchored in the actual decision rather than trying to satisfy an imagined recruiter rule. For more detail, see the guide to choosing between consulting offers.

A polite ask seems fair when the gap is genuinely material.