For forty years, we've been passionate about achieving better results for our clientsresults that go beyond financial and are uniquely tailored, pragmatic, holistic, and enduring. We help businesses run more effectively, navigate industry shifts and reach new markets. In other developed countries, the salary fluctuates around $80,000, while in developing nations such as India, the number is roughly $25,000-$30,000 (profit sharing not included). Undergraduate & Masters Consultant Salary, Learn more about training for your team or organization. At the same time, while the rate of growth for boutique firms increased YoY, the proliferation of in-house strategy groups at large corporations continues to limit the growth of a fragmented market of boutique players. Established consulting firms drove a lions share of the overall industry growth through organic and inorganic means. At this level, the average global Bain consultant salary is $165,000 a year, with a range of $147,000-204,000. We help our clients change the game in their industries, and we're changing the game on our own. Manager (S Consultant) bracket is between 55k -70k max. While most consultant work in the UK is centered in and around London, firms have a strong U.S. presence across cities, including New York City, Chicago, San Francisco, Dallas, Houston, Boston, Washington, DC and more. Other specialists and strategy consulting firms such as Newton Europe and Oliver Wyman pay their graduates healthy starting salaries with pay beginning at around 40,000 in the first year. 2022 saw firms grapple with the tightest global labor market in decades as demand for management consulting services remained strong. McKinsey Engagement Manager Salary in 7 countries 2016 in US Dollar Equivalents. It's fully expected that you'll use all or most of your allocation. Additional pay could include cash bonus, commission, tips, and profit sharing. The UK Consultant salary at MBB firms ranges from 90,000-93,000. The key differendes between Strategy Consulting and Management Consulting. Deloitte drives progress. There is no noticeable difference for IB and Biglaw. They are followed by the other top strategy firmsBain, McKinsey, and OC&C. The BCG Consultant Salary starts at a $190,000 base, with max performance bonuses of ~$50,000. Contribute to our Q&A forum and ask the community your question! The Applied Value Group combines Management Consulting, Private and Public Investments, and Social Responsibility. Combine this with the fact that consultings biggest competitors for talent Wall Street and Silicon Valley are conducting layoffs and slowing hiring because of the rising cost of capital, and these factors will put downward pressure on salary raises headed into the 2024 cycle. Thanks for the link James. Management Consultant Salary United States. Lets pay it forward! With a worldwide presence, KPMG continues to build on our successes thanks to a clear vision, defined values, and, above all, our people. Get into McKinsey. However, other BCG US locations, such as New York City and San Francisco, are significantly more expensive to live in than even London. Were trusted as an objective resource and critical partner by more than 15,000 organizations in more than 100 countries across all major functions, in every industry and enterprise size. employs more than 1,400 professionals across the Americas, Asia-Pacific, and Europe. Project leaders/managers are typically paid $200,000-$250,000. Take me straight to the first consultancy. Your data could be accessed by law enforcement without prior public trial in court. And no clue for some reason WSO converts the pound sign into PS! This has had the occasional effect of forcing layoffs. Big4: I would say standard hours are 9 to 6/7pm with busy seasons (8 to 10 weeks a year) you could be working until 11/12. Well in NYC, IB starts on the same base salary as consulting. But it isn't about dreaming, it's doing. McKinsey Engagement Managers in the US may earn up to $250,000 per year in salary, with $175,000 base and $77,000 performance bonus. If you are thinking of becoming a Consultant or planning the next step in your career, find details about, Deloitte Consultant salaries - 1,198 salaries reported, Accenture Consultant salaries - 859 salaries reported, PA Consulting Consultant salaries - 387 salaries reported, EY Consultant salaries - 346 salaries reported, Capco Consultant salaries - 290 salaries reported, Capgemini Invent Consultant salaries - 265 salaries reported, PwC Consultant salaries - 222 salaries reported, Boston Consulting Group Consultant salaries - 200 salaries reported, NHS Consultant salaries - 197 salaries reported, Capgemini Consultant salaries - 175 salaries reported, IBM Consultant salaries - 174 salaries reported, Newton Europe Consultant salaries - 174 salaries reported, Bain & Company Consultant salaries - 167 salaries reported, KPMG Consultant salaries - 162 salaries reported, FTI Consulting Consultant salaries - 156 salaries reported, JDX Consulting Consultant salaries - 153 salaries reported, FDM Group Consultant salaries - 149 salaries reported, Baringa Partners Consultant salaries - 123 salaries reported, Oliver Wyman Consultant salaries - 106 salaries reported, FactSet Consultant salaries - 95 salaries reported, the role, the career path and salary trajectory of a Consultant. Many employees, of course, focus on the material benefits of BCG employment: the high salary, travel opportunities, luxurious office conditions, etc. Though I do get most of my weekends to myself. As always, your anonymity is guaranteed. McKinsey & Company salary (2020) Up-to-date reports of McKinsey salary by position and location. Notice how the more senior you become at BCG, the variable proportion of your compensation makes up most of your take home pay. BTW I'm an American who's been living and working (not in consulting but looking to get into it) in London for nearly 5 years, and not looking to move back anytime soon. Known for our hands-on approach, industry expertise, and resolve, Proudfoot delivers an agile workforce, improves performance, expands profitability, and propels top-line growth for our clients. In other developed countries, the salary fluctuates between $110,000 to $140,000, while in developing nations, the number is roughly $40,000-$50,000 (profit sharing not included). Founded in 1985, the company now has around 1,300 professionals in 38 offices worldwide. GEP helps global enterprises operate more efficiently and effectively, gain competitive advantage, boost profitability, and maximize business and shareholder value. We are committed consultants with adaptive intelligence. Simon-Kucher & Partners is regarded as the world's leading pricing advisor and thought leader. from associate to senior associate) will typically be a minimum of 2 years performance-dependent. Full-time. Location work from home. The EY consultant salary UK at the junior consultant level The PSC is the trading name of 2020 Delivery Limited. Based in London and New York, we work with many household names and global organizations helping them to develop strategies and transform their business. I was using a tax calculator. The USA is not considered to have adequate data protection legislation. This is the only originally sourced data available in the industry. Bain & Company is one of the world's leading business consulting firms. And weve worked in almost every sector imaginable, from fertilizers and oil rigs to handbags and iPads.or connect to a database. The rise in competition for top talent has accelerated this development. Next, lets take a look at a breakdown of BCG salaries by role. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. Also I know a few companies even pay accomm costs if you are moving on a secondment for a max of 6 months, may be worth looking into that? We only work in public services and were passionate about making experiences and outcomes better for public service users your customers and patients. Beyond those benefits, positive reviews also focus on the culture of innovation and the stimulating challenges associated with working at BCG. The biggest factor in deciding which career to choose or firm to join is salary. Beyond the cultural differences between the U.S. and the UK, an important contrast is salary. FGL Associates. 3.7. Greenwich Associates is the leading global provider of data, analytics, and insights to the financial services industry. Masters-level graduates get offered around $100,000 in base salary at Bain. Its a big year for the consulting industry as well. WSO depends on everyone being able to pitch in when they know something. The lowest salary for a Consultant in London Area is 28,284 per year. Interested in company salary figures? If you need more information please view the individual settings. Most grads would share apartments 2/3 bed and live in less pricey areas. We have 207,000 outstanding professionals working together to deliver value in 153 countries and territories. Parthenon joined Ernst & Young LLP on August 29, 2014. Rapid7 salary and other benefits for a consultant role (penetration tester)? This includes Atlanta, Houston, Philadelphia, and other metropolitan areas. Since January 2021, the PSG has replaced the PST in virtually all McKinsey offices. Innovation has become a necessary ingredient for sustained success. BCG Gamma is a division of BCG focusing on data science and advanced analytics. choosing Atlanta over San Francisco). First Again, keep in mind that this is base salary only, and is an average across firms. Thanks for the link James. Seems like the US salaries are way off what UK consulting pays - I can confirm this for Big4 atleast (PwC, EY, KPMY and The Chartis Group is a comprehensive advisory and analytics services firm dedicated to the healthcare industry. ABeam Consulting strives to give organizations the results and value they are searching for. 178,883per year. As we attempt to provide quality compensation data to our readers, we appreciate any data that you share. The typical FTI Consulting Consultant salary is 40,220 per year. One common refrain is the clich that you can have a baby for only $20 in copays. The average starting salary for a graduate entering consulting is 37,000 making consulting one of the most lucrative careers you can choose as a graduate, higher than medicine, and behind only investment banking and commercial law. Still, targets drove most hiring, so if youre from a non-target school, network now and apply early. We are outcomes-focused, wanting to create lasting legacies through what we deliver and the way that we work. Are you interested in becoming a management consultant? Not sure how this compares to consulting hours in NYC? We interrogate a problem until we find its root. The cost of living in America is higher as well, as Americans find themselves paying for things many Brits dont dream of paying, as the UK has more of a societal safety net compared to the U.S. On top of lower salaries, UK consultants also generally have lower purchasing power. Often, our interview prep clients will receive slightly higher job offers in tech than in consulting. Requirements vary widely by industry, with workers being compensated more for higher education and specialization. Technology firms also compete with consulting firms for talent. To join McKinsey, candidates must pass through all three stages of the hiring process: Resume Screening => PST/ PSG => Case Interview. Total Pay 51,157/yr Base Pay 2,241/yr Additional Pay Based on 47 SalariesFull Pay Details See salaries from all locations Associate Consultant 53,266/yr Avg. This is a big year: Charles III will be coronated as King of the United Kingdom and other Commonwealth realms, India is projected to surpass China as the worlds most populous country, the FIFA Womens World Cup takes place in Australia & New Zealand, and the Cricket World Cup takes place in India. He said that since they couldn't compete with banker pay, they compete on quality of life. Using a top-down communication style across emails, meetings, and decks Partnering with our clients, we are solving the world's most intricate challenges. Strategy firms acquired specialist players to continue to move further downstream into supply chain, sustainability, digital, and implementation work (e.g., Bain acquiring supply chain consultancy Proxima). newly minted graduates). Training & Recruiting Support for Companies, 2 Rounds of Edits each on 1 Resume and 1 Cover Letter, All access pass: 500+ cases, 10K+ math/structure drills, 9 video courses, 12 chatbot cases. Whilst salaries will increase every year, promotions to the next grade (e.g. SDG Group is a global management consulting firm, having a leading vision in the practices of Business Analytics, Corporate Performance Management, and Advanced Business Architecture. They often offer higher base salaries but the roles are more siloed and the promotion trajectory is slower. Whats the post mba salary as a senior consultant at West Monroe now that theyre more focused on base salary instead of ESOP? There is a large variation in management consulting salaries within firms across different countries. Mott MacDonald: Opening opportunities with connected thinking. Because of that, the net income after a few years in consulting can exceed those in other industries, despite an initially lower base pay. The number is essentially the same. Bain & Company salary. I would say my hours are more similar to MBB in London. 67 Learn more about training for your team or organization At McKinsey, Bain, and BCG, management consulting salaries are relatively flat across all offices within a country. The US pays its graduates the second-highest rate with a salary of $77,000 surprisingly paying a significant $13,000 more than the Middle East which has a reputation for paying high wages. Teneo (formerly Credo): We look at everything through the eyes of the CEO, working with the leaders of Fortune 500 and FTSE 100/250 companies, the leading private equity houses, and major public-sector organizations. EY is a global leader in assurance, tax, transaction, and advisory services. CIL is an independent management consultancy. Data processing in the USA: By clicking on "I accept", you also consent, in accordance with article 49 paragraph 1 sentence 1 lit. Most surprisingly, consultant salaries in London are relatively lower given its high cost of living. Anyway, I've decided to stay in NYC for at least a bit more. Protiviti and our independently owned Member Firms provide consulting solutions in finance, technology, operations, data, analytics, governance, risk, and internal audit to our clients through our network of more than 75 offices in over 20 countries. Btw what is standard annual leave in the US? At Accenture UK, the consulting analyst salary is 33,500. The average salary for a Consultant is 47,093 per year in London Area. These degrees are roughly equivalent when it comes to consultant salary, as the technology sector drives competition for top talent. Vacation allowance is much more generous, usually in the 25 to 30 day range, plus about 10 public holidays. We question everything and apply thoughtful and rigorous analysis to each challenge, issue, and opportunity. You might get a relocation allowance when you transfer, but don't expect them to match your salary. 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