Determining the administration marketing consultant salary you presumably can anticipate to obtain, or more narrowly, a technique consultant salary, might be one of the defining components in deciding which firms you will apply to. That’s why we put in hundreds of hours of research every year to deliver you essentially the most up-to-date consultant salary information – anyplace.
This – to one of the best of our data – is the one firsthand report in the business containing current numbers obtained immediately from provide letters for an entry degree McKinsey salary, Boston Consulting Group salary, and stats from over 60 additional consulting corporations. So whether you’re in search of a Bain advisor salary, Deloitte marketing consultant salary, or details about niche boutique consulting companies, you’ve come to the house of probably the most up-to-date administration consulting starting salary numbers obtainable. Consulting Salaries Overview
NOTE: THE SALARIES IN THIS REPORT REFLECT STARTING BASE SALARIES FOR OFFERS WITH 2022 START DATES. OFFERS EXTENDED IN 2022 BUT WITH 2023 START DATES ARE HIGHER – OUR 2023 SALARY REPORT WILL REFLECT THOSE UPDATED FIGURES!
Welcome to 2022, and our updated administration consulting salaries report!
This is a big year: We enter the 3rd yr of the pandemic with hope that there is light at the end of the tunnel. The Winter Olympics happen in Beijing, the FIFA World Cup takes place in Qatar, and Queen Elizabeth II will have fun 70 years on the British throne.
It’s an enormous yr for the consulting business as well. 2021 saw companies grapple with the tightest world labor market in a long time at the facet of an explosion of demand for administration consulting companies.
This led to document income for so much of consulting corporations and a continued wave of M&A exercise, leading to double-digit business progress. However, this growth isn’t without potential peril. Future margins are at risk as firms continue to raise salaries with no commensurate rise in project rates. So far, margins have been protected by a decrease in operational costs (i.e., smaller office house, much less travel). Still, there is only a lot firms can reduce. The potential result? Without the normal increase in pricing power that business consolidation brings, we might even see firms start to shrink project groups or prioritize the hiring of cheaper pre-MBA expertise within the subsequent decade.
The M&A activity revealed two fundamental patterns. Large firms acquired boutique strategy houses in lieu of (or as nicely as to) organically building their own (ex: AlixPartners acquiring Galt & Co.). Strategy firms acquired specialist players to proceed to move additional downstream into provide chain, sustainability, digital, and implementation work (ex: McKinsey acquiring Material Economics).
What do you get if you put all of it together?
The Gap Between Top Firms and the Rest is Widening…
Established consulting firms drove a lion’s share of the general business progress by way of natural and inorganic means. This in flip allowed them to extend max compensation via efficiency bonuses and revenue sharing, as nicely as extend life-style perks like limitless PTO. At the same time, while the speed of progress for boutique firms elevated in comparison with 2020, a fragmented market of boutique players continued to be hurt by the resurgence of in-house strategy teams at massive firms.
…and the Staff are Staying Busy…
As demand for companies increases and journey demand remains depressed, marketing consultant utilization has risen to all-time highs.
…but There’s Still a Need for More Talent
Increased utilization and a good labor market have led to an unprecedented rate of exits from the business in the final 12 months. Combine that with the reality that consulting firms were already understaffed for the elevated demand they’re experiencing, and 2022 promises to be a banner year for consulting hiring.
Still, with more eager candidates than ever earlier than chasing the status and rising pay of a consulting job, the consulting job market remains extremely aggressive.
How has this impacted consulting salary trends?
After a 1-year blip, consulting salaries restarted the upward trajectory we now have turn into accustomed to. In the 14 years we have been overlaying salaries, this is the thirteenth year that starting salaries elevated.
While most historical consulting salary will increase have been within the 2-4% development range, this year’s enhance was closer to 10%, signaling the consequences of a tightening labor market and increased demand. However, this enhance was nonetheless lower than the increase we noticed in 2019.
Following a trend from the last 3 years, consulting companies have continued to increase hiring of specialists (bonus factors in case you have technical expertise), skilled hires, and candidates from non-target faculties.
In truth, simply 19% of McKinsey’s most recent intake was made up of direct MBA hires, and the firm employed analysts from over 370 universities. Still, targets drove most hiring, so if you’re from a non-target college, network now and apply early.
Below are salary figures for those becoming a member of administration consulting positions in 2022. The data comes from our interview prep clientswho obtained written job provides and firm representatives. The salary data is for those recruited straight from an undergraduate, master’s, MBA, or PhD program or those that had been hired at the similar degree. All salary figures are in U.S. dollars until otherwise said.
This is the only originally sourced information obtainable within the trade. Everyone else makes use of ours or uses outdated or arbitrarily averaged Glassdoor salary information, PayScale salary information, or Indeed salaries. Use or republication of this data is prohibited without the express written consent of Management Consulted.
All of the info and our expanded insights are included in the full downloadable report – get a copy free of charge below.
Salaries for Incoming Undergraduate & Master’s Full-Time Hires
Summary
Overall, salaries for incoming undergraduate & master’s college students have risen considerably after staying stagnant final yr. When evaluating consulting roles to those in trade on the same degree, there are few better choices in phrases of total comp. If compensation is crucial consider your agency preferences, look at corporations like Alvarez & Marsal, Galt & Co., Deloitte, McKinsey, Strategy&, BCG, Bain, Accenture Strategy, and Altman Solon. However, we recommend contemplating different components in your search as well, together with exit opportunities, firm culture, journey, and extra.
Bain, BCG, and McKinsey Consulting Salaries
Base:$112,000 (UK: £46,400) (Dubai: $85,000)Performance Bonus:as much as $22,500 (UK: as a lot as £11,000)Total Cash:as a lot as $134,500Housing Allowance:as much as $5,000PTO Vacation:20 daysRelocation:$5,000Retirement:four.5% of base + bonus into 401k, no contribution required (UK: 9% of base salary)Signing Bonus:$5,000 (UK: £3,000) (Dubai: $3,000)Base:$110,000 (Canada: C$90,000) (Aus: A$67,000) (Germany: €68,500) (India: INR 2,one hundred fifty,000)Performance Bonus:as a lot as $25,000Total Cash:up to $135,000Profit Sharing:as much as $4,400PTO Vacation:15 daysRelocation:up to $8,000 (Germany: as a lot as €10,000)Retirement:Profit sharing deposited into 401k accountSigning Bonus:$5,000 (Canada: C$8,000) (Aus: A$15,000)Base:$112,000 (Canada: C$90,000) (Sweden: SEK fifty five,000) (Turkey: $37,500) (KSA: $25,600)Performance Bonus:up to $20,000Total Cash:as much as $132,000PTO Vacation:19 daysRelocation:as much as $10,000Signing Bonus:$5,000 Big 4 Consulting Salaries
Base:up to $90,000 (Master’s: as a lot as $105,000) (UK: £32,500) (Luxembourg: €53,000)Performance Bonus:Master’s: up to $26,250 (Luxembourg: as a lot as €2,000)Total Cash:as a lot as $90,000 (Master’s: up to $131,250)PTO Vacation:23 daysRetirement:25% match of first 6%Signing Bonus:up to $12,500 (Master’s: $15,000)Base:$75,000 (GPS Tech: $85,000)Total Cash:as much as $75,000Retirement:25% match of first 6%Signing Bonus:$7,000 (GPS Tech: $12,000)Base:$90,000Performance Bonus:Only after third yr (15% of base)Total Cash:as a lot as $90,000Retirement:25% match for first 6% of particular person contributions in 401kSigning Bonus:$12,500Base:$70,000 (UK: £32,500)Total Cash:as a lot as $70,000Base:up to $85,000 (Canada: C$70,000) (UK: £55,000) (Dublin: €32,000)Performance Bonus:UK: as a lot as £1,200Total Cash:as much as $85,000PTO Vacation:UnlimitedRelocation:as a lot as $2,000Retirement:25% match as a lot as 6% (total of 1.5%)Signing Bonus:up to $5,000 (Canada: C$3,000)Base:$100,000 (Singapore: S$60,000) (UK: £50,000)Performance Bonus:up to $22,000Total Cash:up to $122,000PTO Vacation:UnlimitedRaises:$50,000 retention bonus in SSG after three yearsRelocation:up to $2,000Signing Bonus:$8,000KPMG Undergraduate & Master’s Consultant Salary
Base:$77,000 (Canada: C$68,000) (UK: £29,150) (Dublin: €32,000)Performance Bonus:up to C$15,000 (Canada)Total Cash:up to $77,000PTO Vacation:20 daysRelocation:as a lot as $2,000 (Canada: up to C$2,000)Retirement:Match 50% (2.5%) if deposit 5%Signing Bonus:up to $7,500Base:$72,000 (Dubai)Performance Bonus:up to $15,000Total Cash:as a lot as $87,000PTO Vacation:22 daysRelocation:as a lot as $4,000Base:$83,000 (Canada: C$65,000)Performance Bonus:Canada: as much as C$6,500Total Cash:up to $83,000Signing Bonus:$5,000 (Canada: C$5,000)Strategy& Undergraduate & Master’s Consultant Salary
Base:$100,000 (Canada: C$70,000) (UK: £52,000) (Aus: A$81,000) (Dubai: $70,000)Performance Bonus:as a lot as $27,000 (Canada: as a lot as C$14,000) (UK: up to £5,200)Total Cash:as a lot as $127,000PTO Vacation:15 daysRelocation:up to $2,000 (Dubai: up to $5,000)Retirement:25% of the primary 4% (5 yr vest)Signing Bonus:$5,000 (Canada: C$5,000) (UK: £6,000) (Aus: A$11,000) (Dubai: $10,000) Notable Boutique Consulting Salaries
Accenture Undergraduate & Master’s Consultant Salary
Base:$79,500 (Canada: C$70,000) (UK: £33,500) (Melbourne: A$67,000)Total Cash:as a lot as $79,500PTO Vacation:20 daysRetirement:6% match (Melbourne: A$6,700)Signing Bonus:$10,000 (UK: £5,000)Stock:15% discount on Accenture stockBase:$82,000Total Cash:up to $82,000Relocation:as much as $2,500Signing Bonus:$10,000Base:$87,000 (Canada: C$90,000)Performance Bonus:up to $26,100 (30% of base)Total Cash:up to $113,100PTO Vacation:21 daysRelocation:as a lot as $2,500Retirement:6% match for 401k after 1st yearSigning Bonus:$12,500 (Canada: C$10,000)Stock:15% low cost on Accenture stockAdvancy Undergraduate & Master’s Consultant Salary
Base:$100,000 (NYC)Performance Bonus:as much as $15,000Total Cash:up to $115,000PTO Vacation:20 daysRelocation:up to $3,000Retirement:5% matchSigning Bonus:$4,000Base:$95,000Performance Bonus:as a lot as $14,250Total Cash:up to $109,250PTO Vacation:20 daysRetirement:401k match up to 5% of whole compSigning Bonus:$10,000Base:$105,000 (Dallas/Houston: $70,000)Performance Bonus:as much as $40,000Total Cash:up to $155,000Retirement:6% matchSigning Bonus:$10,000 (Dallas/Houston: $5,000)Base:$80,000Performance Bonus:as much as $12,000Total Cash:up to $92,000Base:$75,000 (Dubai, Abu Dhabi, Doha, Beirut, Riyadh: $60-80,000)Performance Bonus:as a lot as $4,000 (Dubai, Abu Dhabi, Doha, Beirut, Riyadh: $9-12,000)Total Cash:as much as $79,000Allowances:40% of base paid in Dubai/Abu Dhabi/Doha; 30% in RiyadhRelocation:up to $5,000 (Dubai, Abu Dhabi: as much as $15,000)Retirement:6% match for 401k (Dubai, Abu Dhabi, Doha, Beirut, Riyadh: 1 month of latest salary per yr of service)Base:$85,000Performance Bonus:N/ATotal Cash:up to $85,000Base:$85,000Performance Bonus:as a lot as $10,000Total Cash:up to $95,000PTO Vacation:15 daysRelocation:as a lot as $2,500Signing Bonus:$7,500Base:$85,000Performance Bonus:$8,500Total Cash:up to $93,500Relocation:100 percent of transferring bills; 4 nights in resort while house hunting; all broker feesRetirement:50% match for first 6% of individual contributions in 401kSigning Bonus:$15,000Base:as a lot as $80,000Total Cash:as a lot as $80,000Profit Sharing:Overtime bonus: $45/hour > 36.5 hrsPTO Vacation:20 daysSigning Bonus:up to $7,000Base:$85,000Performance Bonus:as a lot as $60,000Total Cash:as much as $145,000Base:$75,000Performance Bonus:as a lot as $5,000Total Cash:up to $80,000Base:$75,000Total Cash:as much as $75,000Retirement:5% matchSigning Bonus:$5,000Kearney Undergraduate & Master’s Consultant Salary
Base:$85,000Performance Bonus:as a lot as $12,750Total Cash:up to $97,750Profit Sharing:as a lot as $8,500Relocation:as a lot as $10,000Retirement:as a lot as 6% baseSigning Bonus:$5,000Base:$95,000 (UK: £47,500) (Munich: €36,000)Performance Bonus:up to $3,000Total Cash:as a lot as $98,000Profit Sharing:up to $19,600PTO Vacation:15 daysRelocation:as much as $2,500Retirement:5% of profit shareSigning Bonus:$10,000 (UK: £5,000)Tuition:up to $3,000 for returning internsMars & Co Undergraduate & Master’s Consultant Salary
Base:$87,500Total Cash:as a lot as $87,500PTO Vacation:20 daysRelocation:as a lot as $5,000Retirement:.50 match of every $1 up to 4%Signing Bonus:$5,000Base:$100,000 (UK: £54,000)Performance Bonus:up to $20,000 (UK: as much as £10,800)Total Cash:up to $132,500 with incentivesPTO Vacation:20 daysRelocation:as much as $5,000Retirement:match up to three.5% of salarySigning Bonus:$7,500 (UK: £7,000)Base:$100,000 (Canada: $85,000) (UK: £43,000) (Amsterdam: €58,000) (Singapore: S$90,000)Performance Bonus:up to $10,000 (Amsterdam: up to €27,000)Total Cash:as much as $110,000PTO Vacation:17 daysRelocation:as much as $2,000 (Singapore: S$10,000)Retirement:3% matchSigning Bonus:$10,000 (Canada: C$10,000) (UK: £7,000) (Singapore: S$15,000)Base:$80,000Performance Bonus:up to $7,200PTO Vacation:15 daysRelocation:as much as $2,000Retirement:3% matchSigning Bonus:$5,000Wavestone Undergraduate & Master’s Consultant Salary
Base:$75,000Performance Bonus:as a lot as $3,750Total Cash:as a lot as $78,750PTO Vacation:25 daysRelocation:as a lot as $5,000Signing Bonus:$5,000Base:$75,000-$86,000 (geo contingent)Total Cash:up to $91,000 (geo contingent)PTO Vacation:UnlimitedRetirement:6% of salary 401(k) match and ESOPSigning Bonus:up to $7,500Base:$90,000 (Canada: C$85,000) (Tokyo: ¥5,500,000)Performance Bonus:as much as $9,000Total Cash:up to $99,000Cost Of Living Adjustment:as much as $18,000PTO Vacation:15 daysRelocation:up to $3,000 (Canada: as much as C$3,000) (Tokyo: up to ¥300,000)Retirement:3% salary match for 401kSigning Bonus:up to $8,000Tuition:as a lot as $5,000 Other Boutique Undergraduate & Master’s Consultant Salary
AArete Undergraduate & Master’s Consultant Salary
Base:$68,500Total Cash:up to $68,500Base:$85,000Total Cash:up to $85,000Base:$81,000Performance Bonus:up to $20,250Total Cash:up to $101,250PTO Vacation:15 daysSigning Bonus:$3,000Avencore Undergraduate & Master’s Consultant Salary
Base:$100,000Performance Bonus:up to $25,000Total Cash:up to $125,000PTO Vacation:21 daysRelocation:up to $10,000Signing Bonus:$15,000Base:$77,000Performance Bonus:as a lot as $15,400Total Cash:as much as $92,400Base:$78,000Performance Bonus:as much as $15,000Total Cash:up to $93,000CapCo Undergraduate & Master’s Consultant Salary
Base:$75,000Total Cash:up to $75,000PTO Vacation:17 daysSigning Bonus:$10,000Capgemini Undergraduate & Master’s Consultant Salary
Base:$68,000Total Cash:up to $68,000CBPartners Undergraduate & Master’s Consultant Salary
Base:$70,000Performance Bonus:as a lot as $10,500Total Cash:as much as $80,500cg42 Undergraduate & Master’s Consultant Salary
Base:$87,000Total Cash:up to $87,000PTO Vacation:25 daysRelocation:up to $2,000Signing Bonus:$15,000Crowe LLP Undergraduate & Master’s Consultant Salary
Base:$83,000Total Cash:up to $83,000PTO Vacation:UnlimitedSigning Bonus:$7,500Gartner Undergraduate & Master’s Consultant Salary
Base:$76,000Performance Bonus:as a lot as $1,900Total Cash:up to $77,900PTO Vacation:22 daysRaises:efficiency bonus up to 12% of base after 2 yearsRelocation:as much as $5,000Retirement:4% matchBase:$75,000Total Cash:as much as $75,000PTO Vacation:18 daysRelocation:$2,000Base:$75,000Performance Bonus:as a lot as $4,200Total Cash:as a lot as $79,200 (Dublin: up to €30,000)PTO Vacation:Flexible Time OffRetirement:4% matchBase:$80,000Performance Bonus:as much as $8,000 (opportunity for more)Total Cash:$88,000PTO Vacation:15 days + 6 sick days + 3 group service daysRetirement:4.5% matchSigning Bonus:$8,000Tuition:Eligibility after 1 yr of employmentInfosys Undergraduate & Master’s Consultant Salary
PTO Vacation:15 daysRetirement:3% matchBase:$72,000Performance Bonus:up to $7,200Total Cash:as a lot as $79,200PTO Vacation:UnlimitedSigning Bonus:$5,000Base:$87,000 (DC)Total Cash:as a lot as $87,000 (DC)PTO Vacation:15 daysRelocation:as a lot as $8,700Retirement:25% match as a lot as 8%Signing Bonus:$3,000Kalypso Undergraduate & Master’s Consultant Salary
Base:as a lot as $70,050Fixed Allowance:+ $45/billable hourPerformance Bonus:as a lot as $3,500Total Cash:up to $73,050Retirement:3% of complete compSigning Bonus:up to $2,500Base:$85,000Performance Bonus:$5,000Total Cash:up to $90,000PTO Vacation:15 daysRelocation:as much as $3,000Retirement:8% of base salaryBase:$75,000Performance Bonus:up to $3,000Total Cash:as a lot as $78,000Relocation:as much as $6,000Signing Bonus:$5,000Base:$76,500Performance Bonus:$7,650Total Cash:up to $84,150Base:C$75,000Performance Bonus:up to C$3,750Total Cash:as much as C$78,750Total Cash:$68,000 + overtimeBase:$64,000Performance Bonus:up to $3,200Total Cash:as a lot as $67,200Protiviti Undergraduate & Master’s Consultant Salary
Base:$75,000Performance Bonus:up to $7,500Total Cash:as a lot as $82,500Base:$60,000Total Cash:as much as $60,000Total Cash:as much as C$45,000Total Cash:up to $103,500Total Cash:up to A$56,500Base:$55,000Performance Bonus:up to $2,500Total Cash:as much as $57,500PTO Vacation:20 daysRetirement:2% matchSigning Bonus:$600 Work With The Experts To Land A Consulting Offer
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Salaries for Incoming MBA & PhD Full-Time Hires
Summary
Starting salaries for incoming MBA & PhD hires are rising once more after staying stagnant last yr for the primary time in a decade. Still, outdoors of finance, post-MBA compensation packages are the very best in consulting out of any trade. While Big Tech continues to compete with consulting for high talent, consulting continues to offer sooner promotion cycles, broader industry publicity, and a greater path to enterprise leadership. The highest paying corporations on the post-MBA/PhD stage are AlixPartners, Strategy&, EY-Parthenon, McKinsey, Accenture Strategy, BCG, Altman Solon, OC&C Strategy, Bain, and Oliver Wyman.
Bain, BCG, and McKinsey Consulting Salaries
Base:$192,000 (UK: £90,000) (Switzerland: CHF 286,000) Performance Bonus:as a lot as $41,250 (UK: up to £20,000)Total Cash:up to $233,250PTO Vacation:25 daysRelocation:$8,000 for under 400 miles; $16,000 for over 400 milesRetirement:401k contribution as much as $8,000 (UK: as a lot as £10,000)Signing Bonus:$30,000 (UK: £15,000) (Switzerland: CHF 35,000)Base:$190,000 (Canada: C$199,500) (UK: £93,000) (Australia: A$160,000) (Spain: €82,200) (India: INR 2,800,000)Performance Bonus:as a lot as $50,000 (Canada: up to C$69,800) (UK: up to £17,300) (Australia: as a lot as A$61,600) (India: up to INR 6,000,000)Total Cash:up to $240,000PTO Vacation:15 daysRelocation:$2-8,000 (Australia: as a lot as A$7,500)Retirement:$10,930 into 401k (UK: up to 9% match) (Australia: A$16,000)Signing Bonus:as much as $30,000 (Canada: C$26,000) (UK: as much as £15,000) (Australia: as a lot as A$40,000) (Spain: €20,000) (India: INR 2,000,000)Base:$192,000 (Canada: C$200,000) (UK: £90,000) (Hong Kong: $114,000)Performance Bonus:as much as $45,000 (Canada: as a lot as C$70,000) (Hong Kong: as much as $26,000)Total Cash:as much as $237,000PTO Vacation:19 daysRelocation:as a lot as $10,100Retirement:7.5% into 401k (Canada: C$14,000) (Hong Kong: $19,000)Signing Bonus:$30,000 (Canada: C$30,000) (Hong Kong: as much as $16,800)Tuition:50% 2nd 12 months tuition reimbursement for returning interns Big four Consulting Salaries
Base:as a lot as $135,000 (Canada: C$83,000) (UK: £91,000)Performance Bonus:as a lot as $25,650 (UK: as a lot as £4,050)Total Cash:up to $160,650PTO Vacation:25 daysRelocation:as much as $5,000Retirement:25% match of first 6% into 401k (a whole of 1.5%)Signing Bonus:$15,000 (Canada: C$7,500)Base:$128,000Performance Bonus:up to $7,600Total Cash:as much as $135,600Base:$117,000Performance Bonus:as a lot as $22,230Total Cash:as much as $139,230Relocation:up to $5,000Signing Bonus:$15,000Base:$160,000Performance Bonus:up to $32,200Total Cash:$192,200Retirement:1.5% match of first 6% into 401kBase:$165,000 (Toronto: C$105,000) (Calgary: C$100,000) (Mexico City: MXN700,000)Performance Bonus:up to $41,250 (Mexico City: up to MXN35,000)Total Cash:$206,250Relocation:up to $10,000Retirement:25% match of first 6% into 401k (a complete of 1.5%)Signing Bonus:$30,000 ($20,000 contingent on signing early) (Canada: C$15,000)Tuition:Full 2nd yr tuition for returning internsBase:$160,000Total Cash:$160,000Base:$175,000Performance Bonus:up to $26,250Total Cash:up to $201,250PTO Vacation:UnlimitedRelocation:up to $5,000Retirement:Match up to 6%Signing Bonus:up to $30,000Base:$175,000Performance Bonus:$26,250 to $52,500Total Cash:as much as $227,500PTO Vacation:UnlimitedRetirement:25% match as a lot as 6% (1.5% total) after 1 12 months Signing Bonus:$30,000 (plus $10,000 early signing)KPMG MBA & PhD Full-Time Hires
Base:$145,000Performance Bonus:as a lot as $17,400Total Cash:as much as $162,400PTO Vacation:30 daysRelocation:up to $10,000Retirement:Match 50% (2.5%) if deposit 5%Signing Bonus:as a lot as $35,000Base:S$145,000 (Singapore)Performance Bonus:as a lot as S$17,000Total Cash:up to S$162,000PTO Vacation:20 daysRetirement:S$25,000Signing Bonus:S$12,000Base:$165,000 (UK: £85,000) (Amsterdam: €60,000)Performance Bonus:as much as $40,000 (UK: up to £10,000) (Amsterdam: as much as €8,000)Total Cash:up to $205,000Retirement:25% match up to 6%; 1% quick separate contributionSigning Bonus:$30,000 paid at begin of work (UK: £5,000)Base:$190,000 (Amsterdam: €95,000)Performance Bonus:up to $60,000 (Amsterdam: up to €20,000)Total Cash:up to $250,000PTO Vacation:20 daysRelocation:Amsterdam: as a lot as €5,000Retirement:4% computerized (no match required); 25% match as much as 6% in a separate accountSigning Bonus:$30,000 (Amsterdam: €20,000) Notable Boutique Consulting Salaries
Base:$135,000Performance Bonus:as much as $9,450Total Cash:as a lot as $144,450Retirement:6% match for 401kSigning Bonus:$10,000Base:$175,000 (Canada: C$160,000) (UK: £83,000)Performance Bonus:$40,000 (all 1st years out of MBA) + $15,000 for prime performers (UK: £10,000)Total Cash:up to $230,000PTO Vacation:21 daysRelocation:as much as $10,000Retirement:6% match for 401kSigning Bonus:$35,000 + $17,500 early signal on for returning interns (Canada: C$25,000) (UK: £31,500)Tuition:Up to $80,000 tuition reimbursement for returning interns ($50,000 after taxes)Base:$170,000Performance Bonus:no less than $60,000 (uncapped)Total Cash:a minimum of $230,000PTO Vacation:22 daysRelocation:as much as $5,000Retirement:three.75% of complete comp after Year 1Signing Bonus:$30,000 + $10,000 for returning interns (Canada: C$25,000)Base:$170,000Performance Bonus:up to $42,500Total Cash:up to $212,500PTO Vacation:25 daysRetirement:401k match as a lot as 5% of whole compSigning Bonus:$30,000Base:$125,000Performance Bonus:up to $50,000 (40% of base)Total Cash:up to $175,000Base:$175,000Performance Bonus:up to $43,750Total Cash:as a lot as $218,750PTO Vacation:15 daysRetirement:5% matchSigning Bonus:$45,000Base:$130,000 (Middle East)Fixed Allowance:40% of base ($52,000; Middle East)Performance Bonus:up to $32,500 (25% of base; Middle East)Total Cash:up to $214,500Raises:$10K base salary bump after Year 1; another $10K base salary bump after Year 2 (Middle East)Relocation:up to $25,000 (Middle East)Base:$155,000Performance Bonus:as much as $7,750Total Cash:as much as $162,750Base:$115,000Performance Bonus:as much as $17,500Total Cash:up to $132,500PTO Vacation:15 daysRelocation:up to $2,500Retirement:2.5% match of base salarySigning Bonus:$2,500Base:$140,000Performance Bonus:up to $15,000Total Cash:as much as $155,000PTO Vacation:10 daysRetirement:50% match as a lot as 6%Signing Bonus:up to $35,000Base:$135,000Performance Bonus:as much as $40,250Total Cash:up to $175,250PTO Vacation:20 daysSigning Bonus:$30,000Base:$145,000Performance Bonus:as a lot as $55,000Total Cash:up to $200,000PTO Vacation:20 daysRetirement:$8,000Base:$155,000Total Cash:as a lot as $155,000Base:$120,000Performance Bonus:up to $8,400Total Cash:as a lot as $128,four hundred (UK: up to £55,900)PTO Vacation:25 daysSigning Bonus:$10,000 (UK: £3,500)Base:$168,000 (Canada: C$153,000) (Germany: €85,000) (Dubai: AED570,000)Performance Bonus:as much as $42,000 (Canada: as a lot as C$45,900) (Germany: up to €16,000) (Dubai: up to AED90,000)Total Cash:as a lot as $210,000PTO Vacation:18 daysRelocation:as a lot as $10,000 (Canada: C$5,000) (Germany: as much as €5,000)Retirement:401k contribution as a lot as $8,000Signing Bonus:$25,000 (plus $10,000 for summer time interns). Canada: C$20,000. Dubai: AED90,000Base:$185,000 (PhD: $152,500)Performance Bonus:up to $25,000 (PhD: as much as $18,000)Total Cash:as much as $210,000 (PhD: up to $170,500)Profit Sharing:as much as $42,000 (PhD: as much as $34,100)PTO Vacation:15 daysRetirement:5% of profit shareSigning Bonus:$30,000 (PhD: $15,000)Tuition:as much as $25,000 for returning internsBase:$175,000Performance Bonus:as a lot as $60,000Total Cash:up to $260,000 with incentivesRelocation:up to $7,500Retirement:match as much as 3.5% of salarySigning Bonus:$25,000Base:$160,000Performance Bonus:as a lot as $32,000Total Cash:up to $192,000PTO Vacation:17 daysRetirement:401k – as a lot as 3.5% match at start of 2nd yearSigning Bonus:up to $45,000Base:$160,000 (UK: £78,000)Performance Bonus:up to $32,000 (UK: up to £23,400)Total Cash:up to $192,000 (UK: up to £111,400)Base:$150,000 (PhD: $115,000)Performance Bonus:up to $36,000 (PhD: up to $20,700)Total Cash:as a lot as $186,000PTO Vacation:15 daysSigning Bonus:$20,000 (PhD: $10,000)Base:$135,000Performance Bonus:as much as $27,000Total Cash:up to $163,000PTO Vacation:25 daysRelocation:up to $5,000Signing Bonus:$25,000Base:as a lot as $149,500 (geo contingent)Performance Bonus:common 7% base salaryTotal Cash:as much as $165,000 (geo contingent)PTO Vacation:UnlimitedSigning Bonus:$10,000Base:$136,000Performance Bonus:as much as $47,600Total Cash:up to $183,600PTO Vacation:15 daysRelocation:as much as $10,000Retirement:3% guaranteed, up to 6% matchBase:$175,000 (PhD: $117,500)Performance Bonus:as a lot as $30,000 (PhD: up to $11,750)Total Cash:up to $205,000Cost Of Living Adjustment:up to $17,400PTO Vacation:15 daysRelocation:as a lot as $5,000Signing Bonus:$30,000 (PhD: $10,000)Tuition:2nd 12 months tuition reimbursement for returning MBA interns Other Boutique MBA & PhD Full-Time Hires
Base:$140,000Performance Bonus:as a lot as $30,000Total Cash:as a lot as $170,000Signing Bonus:up to $15,000Base:$142,000Performance Bonus:up to $42,600Total Cash:as much as $184,600PTO Vacation:20 daysSigning Bonus:$25,000CapCo MBA & PhD Full-Time Hires
Base:$128,000Performance Bonus:up to $30,000Total Cash:up to $158,000PTO Vacation:22 daysRetirement:3% matchSigning Bonus:$25,000Base:$145,000Total Cash:as a lot as $145,000Base:up to C$99,000Total Cash:as a lot as C$99,000Base:$110,000 (PhD)Performance Bonus:as a lot as $16,500 (PhD)Total Cash:as a lot as $126,500 (PhD)Relocation:as a lot as $2,500Signing Bonus:$10,000 (PhD)Base:up to $160,000Total Cash:as a lot as $160,000 MBA & PhD Full-Time Hires
Base:$160,000Total Cash:as much as $160,000PTO Vacation:15 daysRetirement:3% matchBase:as much as $180,000Total Cash:up to $180,000Base:$135,000Performance Bonus:as much as $13,500Total Cash:up to $148,500PTO Vacation:15 daysSigning Bonus:$25,000Total Cash:up to $120,000Base:$116,000Performance Bonus:as a lot as $12,000Total Cash:as much as $128,000Total Cash:as a lot as $117,000 Base:$155,000 (India: INR 1,780,000)Performance Bonus:India: as much as INR 100,000Total Cash:up to $155,000 (India: as a lot as INR 1,880,000)Base:$80,000Total Cash:up to $80,000Base:$120,000Performance Bonus:up to $15,600Total Cash:up to $135,600 PTO Vacation:18 days + 3 community service daysRetirement:four.5% matchSigning Bonus:$10,000Total Cash:up to $132,250 (S&O Practice)PTO Vacation:UnlimitedRetirement:6% matchSigning Bonus:$10,000Base:$137,500Performance Bonus:as much as $34,375Total Cash:as much as $171,875PTO Vacation:20 daysRelocation:$3,000Retirement:4%Signing Bonus:$10,000Base:$150,000Performance Bonus:up to $45,000Total Cash:as much as $195,000PTO Vacation:15 daysRetirement:3% matchSigning Bonus:$30,000Base:$140,800Performance Bonus:up to $7,040Total Cash:as much as $147,840PTO Vacation:15 daysRetirement:3% matchSigning Bonus:$20,000Base:up to $123,625Total Cash:up to $123,625Total Cash:as a lot as C$121,000Metyis MBA & PhD Full-Time Hires
Base:£75,000Performance Bonus:up to £15,000Total Cash:as much as £90,000Base:$90,000Performance Bonus:as much as $10,800Total Cash:as a lot as $100,800Base:$100,000Performance Bonus:as a lot as $50,000Total Cash:as much as $150,000Total Cash:as a lot as C$180,000Base:$120,000Total Cash:up to $120,000Base:$135,000Performance Bonus:as a lot as $13,500Total Cash:up to $148,500PTO Vacation:20 daysRetirement:as a lot as 4% matchBase:$120,000 (UK: £58,000)Performance Bonus:up to $25,000 (UK: up to £5,800)Total Cash:as a lot as $145,000PTO Vacation:25 daysSigning Bonus:$10,000 (£8,000)Base:as much as $175,000 (geo-contingent)Total Cash:up to $175,000Base:$142,000Performance Bonus:as a lot as $15,000Total Cash:as much as $157,000Base:$125,000Performance Bonus:as much as $30,000Total Cash:up to $155,000Base:$140,000Performance Bonus:as a lot as $28,000Total Cash:as much as $168,000Base:$100,000Performance Bonus:up to $10,000Total Cash:as much as $110,000Xynteo MBA & PhD Full-Time Hires
Base:£105,000Performance Bonus:up to £20,000Total Cash:up to £125,000PTO Vacation:28 daysRetirement:8% match Internship Salaries
Internships are a standard 10 weeks in the United States (early June by way of first or second full week of August) however the range is 8-12 weeks in Canada and the EMEA. Monthly internship salaries are typically prorated based mostly on starting salaries for brand spanking new hires. Here are 2022 internship salaries:
Undergraduate & Master’s Program Internship Salaries
* Accenture: $32/hr + $2,000 signing bonus
* Accenture Strategy: $32/hr ($48/hr overtime) + $2,500 signing bonus
* Altman Solon: $18,000
* Alvarez & Marsal: $25/hour + extra time
* Arthur D Little: $12,000
* Bain & Company: $19,038
* Booz Allen Hamilton: $24/hr
* Boston Consulting Group (BCG): $17,300
* Cornerstone Research: $13,730
* Deloitte Consulting: $37/hour + overtime
* Deloitte Government & Public Services: $31/hour
* EY-Parthenon: $45/hour + $2,000 signing bonus
* FTI Consulting: $30/hour
* Guidehouse (formerly Navigant Consulting): $35/hr + $2,000 signing bonus
* Huron Consulting: $30/hour + $2,000 signing bonus
* IQVIA Consulting Services: $12,000
* IRI Growth Consulting: $19/hr + $1,000 signing bonus
* Kearney: up to $15,000 (Canada: C$5,000) (Germany: up to €5,000)
* KPMG: $17,000
* L.E.K. Consulting: $16,650
* McKinsey & Company: $15,000 (Canada: C$17,692)
* Mercer Management and HR Consulting: $27/hr with $1,000 housing assistance
* Oliver Wyman: $14,250 (9 weeks)
* Otto & Company: €12,500
* PricewaterhouseCoopers (PwC): up to $39/hour + up to $3,000 signing bonus
* Strategy&: $48/hour + additional time
* West Monroe: $36/hour
* ZS Associates: $11,538
MBA & PhD Program Internship Salaries
* Accenture: $33,461
* Accenture Strategy: $33,563 + $5,000 relocation (UK: £13,270)
* AlixPartners: $80/hour (target $34,000) + 1.5x additional time + $3,000 signing bonus
* Bain & Company: $32,000 (Canada: C$35,769)
* Boston Consulting Group (BCG): $31,730 (Canada: C$40,000) (UK: £15,000)
* Deloitte Consulting: $30,750 + $2,500 signing bonus
* Deloitte SSA: $30,000
* Ernst & Young (EY): $35,000 + $5,000 signing bonus
* EY-Parthenon: $35,000 + $5,000 signing bonus
* FTI Consulting: $45/hour
* Gartner: $24,500
* GEP Worldwide: $15,000 + as much as $2,500 efficiency bonus
* IQVIA Consulting Services: $11,500/month + $5,000 signing bonus
* Kearney: $28,a hundred
* KPMG: $66/hour ($99/hour for overtime)
* L.E.K. Consulting: $31,950
* McKinsey & Company: $33,750 (UK: £16,400 + as much as £5,000 relocation bonus)
* NERA Economic Consulting: $17,300/month + $1,250 bonus
* Strategy&: $31,730 (Dubai: $25,000)
* West Monroe: $65/hour
* ZS Associates: $31,730 + $5,000 signing bonus + potential COL adjustment/relocation bonus
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Management Consulting Salary Insights
Management Consulting Bonuses
Full-time consulting provides are nice, however bonuses have the potential to take your comp from good to nice. Generally, consulting full-time hires obtain signing bonuses, relocation bonuses, end-of-year efficiency bonuses, and more. Consulting interns are less likely to obtain bonuses, although some companies do provide relocation or signing bonuses.
More companies are starting to provide returning interns a bigger signing bonus than full-time counterparts who interned elsewhere. The most extravagant of those embody MBA second-year tuition coverage plus signing bonuses (here’s looking at you, Deloitte).
When analyzing these bonuses, there are 5 things you should bear in mind:
1. Value base salary greater than signing and relocation bonuses. Your salary throughout your 2nd (and sometimes 3rd) 12 months at the firm is usually a perform of your preliminary base salary. All else held equal, we might recommend selecting a base salary of $82,000 with a $5,000 signing bonus over base salary of $80,000 with a $7,500 signing bonus.
2. On your supply letter, the listed maximum amount ofthe performance bonus usually goes to the top 5-10% of performers. Average performers often receive bonuses nearer to half of the utmost amount, whereas poor performers typically solely obtain a small bonus if any. Also, companies that pay additional time may select not to offer a efficiency bonus.
three. The measurement ofthe relocation bonusis primarily pushed by the space out of your university to the office location. If you reside in the same city as the office, you’re generally provided no bonus or a smaller bonus (~$2,000 within the U.S.). However, should you stay in a distant state or nation, you would possibly be typically provided the firm’s maximum relocation bonus quantity.
four. Relocation and signing bonuses are commonly distributedsoon after signing your contract. However, they might be distributed in your start date (e.g., at IBM GBS) or given in increments over a number of years (e.g., L.E.K.).
5. Bonuses are normally taxed. Uncle Sam loves your bonuses and will make certain to get his share. So don’t overlook to account for taxes when planning your bonus spending (or saving). Taxes could also be deducted when receiving bonus payments or they may be withdrawn from future paychecks, putting a small momentary dent in your future month-to-month earnings.
Salary Growth Along the Management Consulting Career Path
The salaries above are for full-time hires and interns coming straight from an educational program. Before deciding on a last supply, contemplate how your salary will grow throughout time. Often, our interview prep clients will receive slightly greater job provides in tech than in consulting. However, the salary progress in management consulting outpaces many trade positions. Because of that, the web income after a couple of years in consulting can exceed these in other industries, despite an initially lower base pay.
In top consulting companies, you possibly can usually expect a 10-20% increase in your base pay and/or efficiency bonuses each year. Additionally, when promoted to the subsequent stage (usually each 2-3 years), the increase in your revenue is substantially larger. For occasion, when promoted from Associate to Consultant at BCG, your base salary nearly doubles. Here’s the potential salary development trajectory of someone working at a top consulting agency (McKinsey, Bain, or BCG) in the U.S.:
Consultant Salary Growth Trajectory:
First-year out of Undergrad/Master’s program:
* Base: ~$100k
* Signing Bonus: ~$5k
* Performance Bonus: as a lot as ~$30k
First 12 months out of MBA/PhD program:
* Base: ~$175k
* Signing Bonus: ~$30k
* Performance Bonus: up to ~$45k
Manager/Project Leader (2-3 years out of MBA/PhD) program:
* Base: $ k
* Bonus: $ k
Associate Principal/Senior Project Leader (4-5 years out of MBA/PhD) program:
* Base: $ k
* Bonus: $ k
Junior Partner/Principal (6-8 years out of MBA/PhD) program:
* Base: $ k
* Bonus: $ k
Senior Partner/Director (10+ years out of MBA/PhD) program:
* Base: $ k
* Bonus: $500k+
Keep in thoughts that virtually all full-time hires will not make it to Partner. Many consulting companies have an “up-or-out” promotion structure – and lots of consultants select to go away. Those who perform exceptionally are given the chance to be promoted, while poor performers are encouraged to hunt employment elsewhere. Because of the up-or-out construction and the engaging exit alternatives, solely a small share of consulting recruits make all of it the way in which to Senior Partner. Regardless, salary growth is substantial for every promotion you obtain at a consulting firm.
Salaries When Exiting Management Consulting
Although your salary will increase comparatively rapidly inside a prime consulting agency, you typically obtain a pay enhance when leaving, in addition to a bump in way of life. In the united states, the average consultant who accepts an business position receives a 12-20% improve in pay and a better work-life balance. Those getting into the financial services industry obtain a 30%+ increase in compensation—but work/life balance often takes successful.
Large Consultant Salary Variation Across International Offices
There is a big variation in administration consulting salaries within firms across totally different international locations. Management consulting salaries are highest in the U.S. due to the aforementioned competition with Silicon Valley and Wall Street. Compared to the rest of the world, the United Arab Emirates, Singapore, Switzerland, and Canada also boast comparatively excessive advisor salaries. Most surprisingly, advisor salaries in London are relatively lower given its high price of dwelling.
Overall, consulting salaries are competitive inside their nation, often offering salaries 20%+ above the common for different skilled service corporations. If you settle for a consulting provide in any country, you’ll likely be paid greater than the average local employee with a similar tenure in skilled service industries.
Small Consultant Salary Variation Across Domestic Offices
At McKinsey, Bain, and BCG, administration consulting salaries are comparatively flat throughout all workplaces within a rustic. This has two essential implications. First, there could be oftenlittle roomfor salary negotiation unless you may be an skilled rent. Second, you presumably can increase your take-home earnings by selecting an workplace location the place the value of dwelling is decrease (e.g. selecting Atlanta over San Francisco).
In other firms, salaries are typically adjusted to account for living prices. For example, a Big four advisor working in New York often receives a slightly larger salary than a Big 4 marketing consultant in Dallas.
Consultant Salaries for Master’s and PhD Students
Many consulting firms provide master’s students the same positions as undergraduate college students. Because of that,master’s students typically receive the same compensation as undergraduates (Deloitte is a notable exception to this). However, when a master’s student applies for a related technical place (e.g. information scientist), they’ll receive more compensation than an undergraduate counterpart. Likewise, PhDs typically (though not always) obtain the same compensation as MBAs. This is essential to note, as you ought to be making use of for the position the agency desires to hire you for. Consultant Salary Summary
Overall, the state of the business is robust. Both at the undergraduate/master’s degree and post-MBA/PhD, management marketing consultant salaries continue to remain competitive to rival Banking and Big Tech.
Overall, consulting salaries are extremely aggressive compared to other industries. One notable exception is finance, where salaries are greater but work-life steadiness is often worse. Technology corporations additionally compete with consulting firms for talent. They typically provide larger base salaries however the roles are more siloed and the promotion trajectory is slower.
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