2.8. We work with our clients to build the capabilities that enable organizations to achieve sustainable advantage. It sounds like you have your mind made up, but I'll add a few additional points. BTW I'm an American who's been living and working (not in consulti You can choose to activate only essential cookies or all cookies. London. In doing so, we are often at the heart of them achieving their most ambitious goals. It would have been ruinous had I been living in the US. Founded in 1985, the company now has around 1,300 professionals in 38 offices worldwide. Together. Our servers are powered by electricity from renewable sources. BCG salary varies from country to country, though most locations within the same country pay the same rate to employees. Strategy&'s professionals around the globe have helped many of the worlds leading institutions solve some of their toughest problems, and capture their greatest opportunities. The most extravagant of these include MBA second-year tuition coverage plus signing bonuses (heres looking at you, Deloitte). Critical to unlocking opportunities is EY-Parthenons ideal balance of strengths specialized experience with broad executional capabilities to help you optimize your portfolio of businesses, uncover industry insights to make investment decisions, find effective paths for strategic growth opportunities and make acquisitions more rewarding. Kaiser Associates was founded in 1981 with a simple yet powerful mission: to help executives make more informed strategic and operational decisions by incorporating external insight and analysis. But the salary differential is really too large for it to be a consideration considering London is as expensive as where I'm based out now. However, you will need to perform well in order to keep earning that salary, let alone to increase your earning power with time. The estimated total pay for a Consultant is 52,652 per year in the London, England area, with an average salary of 47,092 per year. I was told by an MBB guy at a recruiting event here in London in May that the work-life balance for consultants in London is better than in the US, and that it's better than banking in London, due to lower pay. For nearly forty years, AlixPartners has helped businesses around the world respond quickly and decisively to their most critical challenges circumstances as diverse as urgent performance improvement, accelerated transformation, complex restructuring, and risk mitigation. Accenture is a leading global professional services company, providing a broad range of services and solutions in strategy, consulting, digital, technology, and operations. Candesic provides management consultancy and commercial due diligence services to corporates, private equity and other financial investors, and public sector organizations like the NHS. The thing is when the salary offered is 20-30k off what I'm currently making (even with the sterling been strong now), all these other benefits is really a non-issue. Heres the potential salary growth trajectory of someone working at a top consulting firm (McKinsey, Bain, or BCG) in the U.S.: Keep in mind that most full-time hires will not make it to Partner. We provide evidence-based advice to assist our clients to grow their businesses, manage risk and make better investment decisions. Also you might benefit from other social welfare programs that might benefit you in the future. Below are salary figures for those joining management consulting positions in 2023. MBA Salaries: How Much Do Consultants With An MBA Make? Total Pay 102,146/yr Base Pay 20,000/yr Additional Pay Based on 193 SalariesFull Pay Details Have a look at the guide to consulting resumes to craft the most proper resume that helps you stand out in a huge talent pool. The PSC is the trading name of 2020 Delivery Limited. Were a management consulting firm with a proven track record of identifying inefficiencies and cutting through bureaucratic inertia, delivering tangible results and meaningful change. Not only are finance and tech slowing hiring, but consulting continues to offer faster promotion cycles, broader industry exposure, and a better path to business leadership. Use or republication of this data is prohibited without the express written consent of Management Consulted. Internships are a standard 10 weeks in the United States (early June through first or second full week of August) but the range is 8-12 weeks in Canada and the EMEA. How much does a Consultant in London Area make? Career switch from Civil Eng. Use the Wallstreet Oasis Company Database to access reviews, interviews, and salaries for thousands of firms. Still, targets drove most hiring, so if youre from a non-target school, network now and apply early. Second year BCG project leaders earn $232,200 in base salary. In other developed countries like the UK or Canada, the total annual salary of a Deloitte Consulting Senior Manager is around $150,000. Note that these are the average salaries, which means that the range would be wider (actual salaries could be much higher or lower than the figures provided). 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. Monitor Deloitte specializes in addressing a variety of management areas, including Corporate & Business Unit Strategy, Customer & Marketing Strategy, Digital Strategy, Innovation, and Pricing Strategy & Profitability Management. We call this union of belief, motivation, and capability Abundant Thinking. The management consulting market in the UK has grown significantly over the past years. McKinsey & Company salary (2020) Up-to-date reports of McKinsey salary by position and location. These industry-wide trends make jumping across the pond less likely for U.S.-based consultants, and more likely for UK-based consultants. Further, the explosive growth of the technology and finance sectors has led to an economy-wide competition for top talent. Thats why we put in hundreds of hours of research each year to bring you the most up-to-date consultant salary information anywhere. FTI Consulting professionals, located in all major business centers throughout the world, work closely with clients to anticipate, illuminate and overcome complex business challenges and opportunities. Future margins are at risk as firms continue to raise salaries without a commensurate rise in project rates. In this article, well take you through the compensation you can expect from a variety of different positions at BCG. This can partly be attributed to the higher access to professional services talent the UK has and therefore they are able to recruit top-performing graduates at lower wages. Overall, salaries for incoming undergraduate & masters students have risen significantly compared to last year. Managers in the big 4 I'm working start on only 60-65k, thats less than 100k. But the salary differential is really too large for it to be a consideration considering London is as expensive as where I'm based out now. The estimated additional pay is 5,562 per year. Compared to the rest of the world, the United Arab Emirates, Singapore, Switzerland, and Canada also boast relatively high consultant salaries. Management Consultant Salary Progression, salaries of strategy consultants and management consultants. Top Consulting Firms Consulting Firms to Work For. Keep in mind though that health insurance and other public services are a lot cheaper and at least in Germany (I think it is similar in the UK) you don't need to pay into a retirement fund. North Highland is a global management consulting firm known for helping clients solve their most complex challenges related to customer experience, performance improvement, technology & digital, and transformation. BCG salary also includes performance bonuses of up to ~$30,000, profit sharing contributed to employees 401(k)s, a signing bonus of $5,000, and a relocation bonus of up to $8,000. Learn more about training for your team or organization If you're looking at MBB or the tier 2 'pure' consulting firms, you probably would get paid quite similarly to what you would get in the US. We bring the big ideas, then we make them real. Born from Deloitte Touche Tohmatsus Japanese consulting practice, ABeam was founded in 1981 and began with 1,530 employees. 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. Consulting Analyst 52 Salaries submitted 53,105 47,031 | 6,090 47K 60K Management Consultant 48 Salaries submitted 82,552 80,693 | 7,835 64K 107K Mott MacDonald: Opening opportunities with connected thinking. BCG consultant salaries, like the salaries of virtually all competitive consulting firms, will handsomely reward you for your work. Second, you can increase your take-home income by choosing an office location where the cost of living is lower(e.g. We specialize in providing unique high-value data and actionable recommendations to help our clients improve their business results. Salary 22k-30k dependent on experience. Partnering with our clients, we are solving the world's most intricate challenges. We are passionate about taking on immense challenges that matter to our clients and, often, to the world. Our diverse teams of experts combine innovative thinking and breakthrough technologies to progress further, and faster. gform.initializeOnLoaded( function() {gformInitSpinner( 110, 'https://managementconsulted.com/app/plugins/gravityforms/images/spinner.svg' );jQuery('#gform_ajax_frame_110').on('load',function(){var contents = jQuery(this).contents().find('*').html();var is_postback = contents.indexOf('GF_AJAX_POSTBACK') >= 0;if(!is_postback){return;}var form_content = jQuery(this).contents().find('#gform_wrapper_110');var is_confirmation = jQuery(this).contents().find('#gform_confirmation_wrapper_110').length > 0;var is_redirect = contents.indexOf('gformRedirect(){') >= 0;var is_form = form_content.length > 0 && ! Do you have any consulting salary data or comments that you would like to share? Kim KardashianDoja CatIggy AzaleaAnya Taylor-JoyJamie Lee CurtisNatalie PortmanHenry CavillMillie Bobby BrownTom HiddlestonKeanu Reeves Business, Economics, and Finance GameStopModernaPfizerJohnson & JohnsonAstraZenecaWalgreensBest BuyNovavaxSpaceXTesla Crypto CardanoDogecoinAlgorandBitcoinLitecoinBasic Attention Occasional travel to clients in EU is also possible but is rare.. and only really available if you actively pursue such projects. As the last two years of frenetic hiring catches up with the demand for services, overall consultant utilization has plateaued. The pay is not as far off as the original poster would suggest. Im working as a change consultant (OCM) at an Accenture equivalent firm in London. You can fill out this anonymous form, add acomment below, orsend us an email. Bain & Company salary. Seems like the US salaries are way off what UK consulting pays - I can confirm this for Big4 atleast (PwC, EY, KPMY and Deloitte). a GDPR, to your data being processed in the USA. Apparently theres a national issurance or smth like that, so the true tax rate is a lot higher. Et dolores harum est sed sed debitis consequatur. Working with a group of independent consultants of the highest caliber, we have pioneered an approach that delivers tangible impact, client ownership, and great value. The highest salary for a Consultant in London, England is 78,412 per year. Guidehouse (formerly Navigant Consulting), Charles River Associates International (CRAI), IBM Global Business Services/IBM Consulting, Switching from Consulting to Private Equity, 3 Skills Necessary to Make it to Partner at a Consulting Firm, 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, On your offer letter, the listed maximum amount of. First, there is oftenlittle roomfor salary negotiation unless you are an experienced hire. Cartesian provides strategic advice, project delivery, and technology solutions for the communications sector. Greenwich Associates is the leading global provider of data, analytics, and insights to the financial services industry. There is a lot of travelling, and most of my work is done outside of my base city. Management consulting salaries are highest in the U.S. due to the aforementioned war for talent with Silicon Valley and Wall Street, heightened U.S. demand for consulting services, and a generally tighter domestic labor market. Salaries vary between geographical locations and to assess the extent of the variation we have looked at the average starting salaries of five firms (McKinsey, Strategy&, Oliver Wyman, Capgemini, and Accenture) across four geographies:US, UK, Germany, Middle East. The starting salaries of consulting firms vary between 25,000 and 60,000 in the UK; this article looks at the top 60 consultancies in the UK and their starting salaries for undergraduates. There are two levels of partner at BCG. Second year Consultants earn an average base salary of $195,000. Work with our team to prepare your CV for applications today. The number is essentially the same. This means that, within a regular time frame, employees are typically either offered a promotion or asked to seek employment elsewhere. We have deep functional and industry expertise as well as a breadth of geographical reach. 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). data scientist), they can receive more compensation than an undergraduate counterpart. RHR International LLP is an independent global leadership consulting firm whose mission is to unlock potential in leaders. Bain Case Team Leader Salary The Case Team Leader at Bain and Company oversees project streams and the various consultants working on them. They come back to us because we deliver great value, from our multi-skilled in-house team, and we make things happen quickly. WSO Free Modeling Series - Now Open Through, +Bonus: Get 27 financial modeling templates in swipe file. As always, your anonymity is guaranteed. Current comp is 32800. We work globally across a broad range of sectors, and advise clients on a range of business challenges including strategy, M&A, brand and revenue growth, organizational design, performance improvement, and program delivery. Weve been talking salaries for strategy consulting roles at MBB, the Big 4, and boutique firms. Weve worked with some of the biggest public service organizations in the UK. Below is a chart depicting average compensation from 122 consulting firms. Find out what management consultants earn in the UK! At this level, the average global Bain consultant salary is $165,000 a year, with a range of $147,000-204,000. Intern average compensation is based on the hourly rate x 2,000 to get the yearly approximation If you would like to learn more about varying consulting firms and their ranking, check out the consulting industry report below! Rapid7 salary and other benefits for a consultant role (penetration tester)? Without the traditional increase in pricing power that industry consolidation brings, we may see firms begin to shrink project teams or prioritize the hiring of cheaper pre-MBA talent in the next decade. WTF?! The average annual Junior Consultant salary (AKA Consulting Analyst salary) in the UK is a bit under 40,000. Medicspro. Today, Kaiser has a highly selective and elite client base comprised of many Global 500 corporations, private equity firms, and government entities. Full-time. The average salary for a Consultant is 47,093 per year in London, England. MBA or experienced hires can expect to join at a more senior level and at approximately double the starting salary of an undergraduate. In the following article, you will find a comprehensive list of London consulting firms to pick your personal target firms from A to Z. In top consulting firms, you can typically expect a10-20% increase in your base pay and/or performance bonuses each year. In other firms, salaries are sometimes adjusted to account for living costs. For example, a Big 4 consultant working in New York often receives a slightly higher salary than a Big 4 consultant in Dallas. ), leading to burnout and retention issues. London Big 4 rough guide: Undergrad Start: 32k increases to 45k after 2 years when you become an Assistant Manager/Senior Exec, MBA: Big 4 do not require an MBA in UK. The firm offers 3 main services operational excellence, Obv IB absolutely kills it all in comparision. We are uncompromising in our approach to helping clients consistently make better decisions, deliver improved business performance and create greater shareholder returns. The reported global range for the Bain consultant salary at this level was $40,000 up to $110,000. Gartner, Inc. (NYSE: IT), is the worlds leading research and advisory company and a member of the S&P 500. The USA is not considered to have adequate data protection legislation. Likewise, performance bonuses for BCG UK employees are typically lower. It's fully expected that you'll use all or most of your allocation. Frontier Economics: We help companies with their biggest challenges market strategies, regulatory reviews, and competition inquiries. Innovation has become a necessary ingredient for sustained success. Sorry, you need to login or sign up in order to vote. With offices in 60 cities across 29 countries, Oliver Wyman combines deep industry knowledge with specialized expertise in strategy, operations, risk management, and organization transformation. I hear it's much lesser than what we get in UK. Data processing in the USA: By clicking on "I accept", you also consent, in accordance with article 49 paragraph 1 sentence 1 lit. The base rate for UK employees always tends to lag behind the BCG salary for US employees. First The average BCG UK consultant earns a base salary of 93,000, which at the time this article was written translates to roughly $115,000. Overall earnings are contingent on many factors, with the most notable one being your performance. We have supported over 300 clients across 5 continents, including a third of the FTSE 100, 40% of the AEX, a third of the world's largest private equity firms, and 50 of the global Fortune 500. Consulting jobs provide opportunities to build both general and specialized skills and develop at all stages of a workers professional career. Thus, the cost of living can vary considerably for consultants working in the US, while most UK consultants can expect London living expenses, which doesnt help. If you accept a consulting offer in any country, you will likely be paid more than the average local employee with a similar tenure in professional service industries. Why? Learn more about the salary as a management consultant! Germany leads the way paying salaries 23% higher than anywhere else and almost double the lowest paying country, the UK. 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. Land More Interviews | Detailed Bullet Edits | Proven Process, Land More Offers | 1,000+ Mentors | Global Team, Map Your Path | 1,000+ Mentors | Global Team, For Employers | Flat Fee or Commission Available, Build Your CV | Earn Free Courses | Join the WSO Team | Remote/Flex, "After you work on Wall Street its a choice, would you rather work at McDonalds or on the sell-side? Consulting interns are less likely to receive bonuses, although some firms do offer relocation or signing bonuses. Check out the world-class interview prep and resume prep services that have helped land thousands of readers (like you) positions attop management consulting firms. Alpha FMC: Asset and wealth managers want independent advice, proven solutions, and expert insight. At McKinsey, the salary for entry-level consultants (Analysts) ranges from $90,000 to $110,000 per year, while the figure for MBA-level/experienced Associates can go up to $233,000. Our main practices are healthcare and social care, aerospace, defense & security. Deloitte invests in outstanding people of diverse talents and backgrounds and empowers them to achieve more than they could elsewhere. And Big4 do deal with some exciting stuff such Man United, Liverpool FC player transfer etc. Like McKinsey and Bain, you can expect a BCG salary to increase by 10-20% every year. Do consultants rack up a lot of credit card points? Technology consultant salaries in the UK? 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. Do you have questions on this blog article? We believe in the power of ingenuity to build a positive human future in a technology-driven world. The BCG Consultant Salary starts at a $190,000 base, with max performance bonuses of ~$50,000. Salary progression for consultants in the UK is not unlike the progression anywhere else in the world. In sum, if you want to get paid in the UK, MBB or boutique firms will compensate you well above what the Big 4 firms will. Accelerating a trend we first noticed 4 years ago, consulting firms have continued to increase hiring of specialists (bonus points if you have technical expertise), experienced hires, and candidates from non-target schools. Overall, the consulting market has been undergoing a number of changes. Through its behavioral lens, RHR has worked side by side with CEOs, board directors, and senior executives for more than 70 years, helping them acquire the knowledge, wisdom, and skills necessary to achieve business results. EDGAR, DUNN & COMPANY (EDC) is an independent global financial services and payments consultancy. Those entering the financial services industry receive a 30%+ increase in compensationbut work/life balance often takes a hit. Many consulting firms offer masters students the same positions as undergraduate students. Where the UK differentiates itself in part is in benefits and culture. GEP helps global enterprises operate more efficiently and effectively, gain competitive advantage, boost profitability, and maximize business and shareholder value. And we help governments design innovative policies and regulatory systems. Data processing in the USA: By clicking on "I accept", you also consent, in accordance with article 49 paragraph 1 sentence 1 lit. Contribute to our Q&A forum and ask the community your question! Ours is a world of opportunity. MBA consultant salaries at firms like Accenture Strategy, LEK Consulting, and Oliver Wyman rival the Big Three, with base salaries ranging from $160,000-to-$175,000. At MBB firms in the UK (Bain, McKinsey, and BCG), analyst salaries hover around 46,000. We have 207,000 outstanding professionals working together to deliver value in 153 countries and territories. Find Salaries London View as: Annual Pay Periods Annual Pay Periods Monthly Pay Periods Hourly Pay Periods Assorted Pay Periods Sort: Most Salaries Submitted Most Salaries Submitted Highest to Lowest Lowest to Highest Consultant 117,146/yr Avg. Although there is till some travel involved to clients based in Scotland (RBS, Lloyds Bank etc). We help our clients realize their goals by applying our deep industry and functional expertise to understand and address their specific needs. The BCG salary earned by interns is broken down according to the degree held by the intern. Monthly internship salaries are typically prorated based on starting salaries for new hires. All of the data and our expanded insights are included in the full downloadable report get a copy for free below. 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. It is now estimated to be worth more than11 billion (Source: Consultancy.uk) - despite Brexit and the political uncertainty. Bain & Company is one of the world's leading business consulting firms. A global leader in consulting, technology services, and digital transformation, Capgemini is at the forefront of innovation to address the entire breadth of clients opportunities in the evolving world of cloud, digital, and platforms. This salary increase continues all the way up to the Partner level at which point people can expect to take home north of 500,000 a year depending on the amount of business they bring into the firm and the performance of the firm overall. 15 reviews 13 salaries reported. The rise in competition for top talent has accelerated this development. Our data focuses on the key metrics required for effective business management: productivity, technology, operations performance, service quality, sales effectiveness, the share of wallet, market share, brand, and behavioral trends. I was using a tax calculator. The average salary for a Consultant is 47,093 per year in London Area. However, other BCG US locations, such as New York City and San Francisco, are significantly more expensive to live in than even London. Everyone else uses ours or uses outdated or arbitrarily averaged Glassdoor salary data, PayScale salary information, or Indeed salaries. The role is usually called either Consultant or Associate, depending on the firm. 2021 and 2022 saw an unprecedented wave of exits from the industry these exits should stabilize as utilization comes back to historical norms. The role of associate principal and senior project leader is typically the second promotion for BCG employees post-MBA, occurring after four to five years. Here's a quick look at consultant compensation at Deloitte in London. 67 Big4 MC still spend large majority of time at client site but most client HQs are based in or around London (British Airways, BP, Network Rail etc) so basically you are still living at home but just commuting to different location every few weeks. McKinsey Associates in the US may earn up to $200,000 per year in salary, with $168,000 base and $35,000 performance bonus. Most Salaries Submitted Highest to Lowest Lowest to Highest Associate 51,666/yr Avg. For MBB you are mostly travelling Mon to Thurs so hours would not really mean much as long as you get a decent 6/7 hours sleep each night. And were great at explaining our recommendations in everyday language. This is important to note, as you should be applying for the position the firm wants to hire you for. With deep heritage and expertise in retail one of the world's most competitive markets, with a deluge of multi-dimensional data dunnhumby today enables businesses all over the world, across industries, to be Customer First. Because of that,masters students often receive the same compensation as undergraduates (Deloitte is a notable exception to this). I would choose McDonalds over the sell-side. - David Tepper. Founded in 1978, the firm is widely regarded as a trusted advisor to its clients, providing a full range of strategy consulting services, expertise, and market insight. It gets auto-converted when I use the sterling denomination. If you are thinking of becoming a Consultant or planning the next step in your career, find details about the role, the career path and salary trajectory of a Consultant. Each grade promotion is worth an approximate 20-30% increase in salary. Your input helps Glassdoor refine our pay estimates over time. Both at the undergraduate/masters level and post-MBA/PhD, management consultant salaries continue to stay competitive to rival Banking and Big Tech. Kearney is a leading global management consulting firm with offices in more than 40 countries. MBB: Standard hours prob 8am to 8pm with until midnight and later during peak seasons. ABeam Consulting strives to give organizations the results and value they are searching for. Consultant is the next level up from Junior Consultant/Analyst and a post-MBA role. Luckily for you, the consulting industry has never been stronger. The firm is headquartered in London, United Kingdom with additional offices in France, Spain, Italy, and India. The typical FTI Consulting Consultant salary is 40,220 per year. This could be nuisance at times. But you will also make a lot of money. The Glassdoor community relies on people like you to share accurate salary info to promote fair compensation everywhere. As strategies, technologies, and innovation collide, we turn complexity into opportunity. The USA is not considered to have adequate data protection legislation. SDG Group has developed a multidisciplinary center of excellence in the end-to-end assignments of modeling and implementing advanced business analytics and data-driven solutions by business domain. I'm probably (definitely) not going to stay in the UK long enough to collect a pension, so the insurance is essentially additional tax. 3.7. Salaries estimates are based on 15573 salaries submitted anonymously to Glassdoor by a Consultant employees in London Area. Our unmatched combination of expert-led, practitioner-sourced, and data-driven research steers clients toward the right decisions on the issues that matter most. The offer I was quoted is too far off. Our industry focus helps KPMG firms professionals develop a rich understanding of clients' businesses and the insight, skills, and resources required to address industry-specific issues and opportunities. With more eager candidates than ever before chasing the prestige, pay, and relative stability of a consulting job, the consulting job market will be even more competitive this year. Undergraduate & Masters Consultant Salary, Learn more about training for your team or organization. Established consulting firms drove a lions share of the overall industry growth through organic and inorganic means. Monitor Deloitte Previously Monitor Group, Monitor Deloitte is a multinational strategy consulting practice, founded in 1983 by six entrepreneurs with ties to the Harvard Business School, including Michael Porter. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); We know that the world changes constantly, so we offer real, tailored solutions for complex business environments. ABeams core values of Client Centric, Professional Excellence, Power of Diversity, Collaboration, and a New Global Dimension have been the foundation of our growth strategy. We interrogate a problem until we find its root. At Accenture UK, the consulting analyst salary is 33,500. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. Bain Consultant Salary & Bonuses Bain consultant salary prospects are especially strong for incoming MBA hires who earn base salaries of $175,000. Before deciding on a final offer, consider how your salary will grow across time. The average additional cash compensation for a Consultant in the London Area is 5,562, with a This includes Atlanta, Houston, Philadelphia, and other metropolitan areas. Mollitia qui cupiditate consequatur magni tempore voluptatum. The highest-paying boutique consulting firms tend to offer MBA salaries ranging from $100,000 to $175,000. As part of the PwC network, Strategy& helps clients solve their issues from strategy through to execution. Oliver Wyman is a global leader in management consulting. Although your salary increases relatively rapidly within a top consulting firm, you typically receive a pay increase when leaving, as well as a bump in lifestyle. And no clue for some reason WSO converts the pound sign into PS! Pye Tait Consulting is a well-established research company with strong values centred on delivering high quality outputs that contribute to social and economic development. Finally, some employees lamented an inability to align available promotions and career development opportunities with their personal interests. 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. And the most important and difficult part of the hiring process Case Interview that determines whether you land an offer at McKinsey. We help businesses run more effectively, navigate industry shifts and reach new markets. 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. 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. Note, these figures pertain to BCG salary in US locations. This is especially true for employees with MBAs and PhDs. Base/bonus breakdown would also be great. We dont duck the difficult answers, we give clients the strategies they need. Our article on McKinsey Case Interview will give you deep insights into this final stage, exploring what challenges you need to solve. Last Determining the management consultant salary you can expect to receive, or more narrowly, a strategy consultant salary, is probably one of the defining factors in deciding which firms you will apply to. We search out the connections others fail to make, to unlock creativity and deliver better outcomes for the lives we touch every day. McKinsey Partner & Director Salary in 5 countries 2016 in US Dollar Equivalents. We combine the in-depth expertise of a global advisor with the focus, attention, and flexibility of a boutique consulting firm. The M&A activity revealed two basic patterns. BCG Gamma is a division of BCG focusing on data science and advanced analytics. Utilization has decreased at some firms from the all-time highs we saw in 2021 and early 2022. Whilst salaries will increase every year, promotions to the next grade (e.g. Are you interested in becoming a management consultant? Deloitte Government & Public Services Undergraduate & Masters Interns with an MBA or a PhD earn a salary of ~$36,500. Graduate Management Consultant. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc, Construction, Repair & Maintenance Services. Looking to land a position in management consulting? At Cornerstone Research, we attribute our success to a unique combination of resources: a creative and energetic staff, cutting-edge technology and research, and our work with academic and industry experts. Consulting is a global management consulting firm that uses deep industry expertise and rigorous analysis to help business leaders achieve practical results with real impact. (function(d,u,ac){var s=d.createElement('script');s.type='text/javascript';s.src='https://a.omappapi.com/app/js/api.min.js';s.async=true;s.dataset.user=u;s.dataset.campaign=ac;d.getElementsByTagName('head')[0].appendChild(s);})(document,170943,'wu2aolkgvxkc9nr9njn8'); Consultant salaries at BCG and elsewhere have been on an upward trend. Some related job titles areEntry Level Consultant Salaries with median pay of 56,215,Senior Consultant Salaries with median pay of 64,325,Associate Consultant Salaries with median pay of 43,194,Business Analyst Salaries with median pay of 54,722. Roland Berger, founded in 1967, is the only leading global consultancy of German heritage and European origin. And weve worked in almost every sector imaginable, from fertilizers and oil rigs to handbags and iPads.or connect to a database. The pay for employees with MBAs and PhDs at the top three tech firms climbed to a base salary of ~$190,000 in 2023. Our collaborative and efficient approach helps clients reduce costs, and manage risk and regulatory change while increasing revenues. Salary: 31.5k; FTI Consulting, Inc. is an independent global business advisory firm dedicated to helping organizations manage change, mitigate risk, and resolve disputes: We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. Our firms around the world help clients become leaders wherever they choose to compete. You cant out-innovate the market. There is no noticeable difference for IB and Biglaw. BCG offers between $2k and $8k, while McKinsey upped its allowance slightly to a Capgemini is driven by the conviction that the business value of technology comes from and through people. Since 1926, we have been trusted advisors to the world's foremost organizations. Currently at a T2 generalist firm and thinking of switching, but would be good to get a sense of comp progression (Glassdoor data seems incomplete). For example, the Principal consultant salary UK is typically over 110,000 per year (keep in mind this is base salary only, and that Principal and Partner compensation are mostly variable). We transform businesses. Well in NYC, IB starts on the same base salary as consulting. Ernst & Young MBA Salary Signing Bonus: $25,000 Base: $140,000 Relocation: $5,000 Performance Bonus: up to $30,000 Total Compensation: up to $200,000 IMS Consulting Group MBA Salary Signing Bonus: $25,000 Base: $125,000 Performance Bonus: up to $15,000 Total Compensation: up to $165,000 Infosys MBA Salary Signing Bonus: $20,000 Founded more than 30 years ago, L.E.K. The takeaway? You can always change your preference in the. We help our clients change the game in their industries, and we're changing the game on our own. Its clear that if youre in it for the money, working in the U.S. is the place to be for consultant salaries. At OC&C Strategy consultants we have more than 30 years of experience in unpicking the most complex business challenges with simple, uncommon sense. We add value and support our clients across the full spectrum of consulting, from strategy through delivery. This amount of time has some variability, but most BCG employees fill a role for two to three years before being promoted or moving on. These numbers represent the If youre wanting to go into tech or IT consulting in the UK, the numbers are a little bit lower, but not all that different. Research Executive. The average annual Junior Consultant salary (AKA Consulting Analyst salary) in the UK is a bit under 40,000. are we using "PS" to mean pounds sterling? Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling. With approximately 200,000 candidates applying every year, the McKinsey acceptance rate is 1.1%. The lowest salary for a Consultant in London, England is 28,284 per year. Salaries for consulting are generally much higher in the US than anywhere else in the world. Vallis Consulting South East, South-East District, Botswana4 weeks agoBe among the first 25 applicantsSee who Vallis Consulting has hired for this roleNo longer accepting applications. McKinsey Analyst Salary in 7 countries 2016 in US Dollar Equivalents, (Profit Sharing not counted in this table due to inconsistent data;one-time/irregular payments such as signing bonus and relocation are not included). 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. Converting all salaries to US dollars it is easy to see exactly where junior consultants earn the most money (and are perhaps the most valued by the industry). Though I do get most of my weekends to myself. Get to know the top consulting firms to work for! Not just the costs of supply, movements in demand, pricing, and competitive dynamics. What do you get when you put it all together? Consultants are typically promoted (or asked to seek employment elsewhere) every 2-3 years. What is the salary trajectory for a Consultant? This base BCG project leader salary is $225,400 with a sharp rise in potential bonuses, which range from $90,000-130,000. This website uses cookies to enable essential functions like the user login and sessions. EY is a global leader in assurance, tax, transaction, and advisory services. All Rights Reserved. Protiviti is a global consulting firm that delivers deep expertise, objective insights, a tailored approach, and unparalleled collaboration to help leaders confidently face the future. Americans, on average, work more hours with less time off than their UK counterparts. We help asset and wealth management businesses use technology to turn goals into reality. This has two important implications. The BCG Consultant Salary starts at a BCG gets extremely positive reviews overall from past employees, with an average score of 4.3 stars out of 5. So whether youre looking for a Bain consultant salary, Deloitte consultant salary, or information about niche boutique consulting firms, youve come to the home of the most up-to-date management consulting starting salary numbers available. Simon-Kucher & Partners is regarded as the world's leading pricing advisor and thought leader. At McKinsey, Bain, and BCG, management consulting salaries are relatively flat across all offices within a country. For the big 4 MC in London, whats the travel like? Big4 MC still spend large majority of time at client site but most client HQs are based in or around London (British Airways, BP, Network Rail etc) The highest salary for a Consultant in London Area is 78,412 per year. Value Partners is a Management Consulting and Digital firm, founded in Milan in 1993. Anyway 'Madscientist' Good luck in your job search! BCG Digital Ventures is a division of BCG focused on startup incubation and corporate investment. Beyond the cultural differences between the U.S. and the UK, an important contrast is salary. We also use cookies and third-party tools to improve your surfing experience on preplounge.com. London is calling! The average salary for Consultant is 47,093 per year in the London Area. The lowest salary for a Consultant in London Area is 28,284 per year. We work hand in hand with our clients, delivering at the coalface. BCG comes out on top as the highest paying UK graduate employer in consulting with a starting salary of 63,000. Project Leaders have a maximum annual salary of $266,000; Principals and Partners may earn up to $1,150,000. 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). Join the worlds leading case interview community today and get everything you need to prepare for your upcoming case interviews! We work with leading organizations across the private, public and social sectors. How much does a Consultant in London, England make? We also use cookies and third-party tools to improve your surfing experience on preplounge.com. We believe the dramatic increase in pre-MBA salaries is a forerunner to this playing out in the industry over the next 10-15 years. Founded in 1990, The Berkeley Partnership is an independent management consultancy. Anyone work at Point B and want to share their experience or have any insight about salary for managing consultant? At voluptatem laboriosam natus ipsa cum aspernatur consequatur. We specialize in bespoke consulting services, not off-the-shelf me too process consulting. Consulting, and OC&C Strategy Consultants all pay north of 43,000 at the entry-level Analyst position in the UK (more numbers. The consultancy is an independent partnership owned exclusively by 230 Partners. The biggest factor in deciding which career to choose or firm to join is salary. Most surprisingly, consultant salaries in London are relatively lower given its high cost of living. Vacation allowance is much more generous, usually in the 25 to 30 day range, plus about 10 public holidays. My team needs training on:* Additional pay could include cash bonus, commission, tips, and profit sharing. Click here to see the total pay, recent salaries shared and more! CVA is a boutique strategy consulting firm with a global reach, operating out of 18 offices in Europe, the US, and the Asia-Pacific region. To us, each client challenge is unique, so boilerplate solutions dont cut it. Do you have questions on this blog article? With an unparalleled depth of expertise in strategic planning, performance excellence, informatics and technology, and health analytics, we help leading academic medical centers, integrated delivery networks, children's hospitals, and healthcare service organizations achieve transformative results. Been promised a 12-15% hike with a promotion to manager in feb and ano more 1 Like 8 Comments Share 2 months an Assistant Director Does anyone know how much an SM and Associate Director make in Accenture London? The first level of junior partner/principal is usually a BCG employees third promotion and occurs after six to eight years with the company. Wow NYC salaries are significantly higher, if what you are quoting for US is correct. Next, lets take a look at a breakdown of BCG salaries by role. Parthenon joined Ernst & Young LLP on August 29, 2014. Consultants here specialize in AI and machine learning. Economics is (nearly) everywhere and the economists toolkit is large. Here are 2023 internship salaries: If you have any management consulting salary data you would like to share, we would love to hear from you. PwC UK pays Consultants a nice 85,000/year. Manager (S Consultant) bracket is between 55k -70k max. When you start with the belief that anything is possible, anything really is. Not sure how this compares to consulting hours in NYC? Because of the up-or-out structure and the attractive exit opportunities, only a small percentage of consulting recruits make it all the way to Senior Partner. Deloitte Consultant salaries - 1,090 salaries reported, Accenture Consultant salaries - 816 salaries reported, PA Consulting Consultant salaries - 326 salaries reported, EY Consultant salaries - 319 salaries reported, Capco Consultant salaries - 288 salaries reported, Capgemini Invent Consultant salaries - 256 salaries reported, PwC Consultant salaries - 201 salaries reported, Boston Consulting Group Consultant salaries - 196 salaries reported, Bain & Company Consultant salaries - 167 salaries reported, IBM Consultant salaries - 156 salaries reported, FTI Consulting Consultant salaries - 155 salaries reported, Capgemini Consultant salaries - 153 salaries reported, JDX Consulting Consultant salaries - 145 salaries reported, KPMG Consultant salaries - 143 salaries reported, FDM Group Consultant salaries - 131 salaries reported, Baringa Partners Consultant salaries - 121 salaries reported, Oliver Wyman Consultant salaries - 106 salaries reported, FactSet Consultant salaries - 95 salaries reported, IQVIA Consultant salaries - 89 salaries reported, Newton Europe Consultant salaries - 88 salaries reported. This has had the occasional effect of forcing layoffs. In addition, American work culture generally runs at a faster pace than UK work environments (burn the candle at both ends, anyone? McKinsey and Bain both pay 90,000. Eden McCallum is redefining management consulting. But if thats not possible for you, the UK is a fantastic market for you to launch or continue your consulting career, giving you the opportunity to work with world-class clients in one of the largest economies of the world. He said that since they couldn't compete with banker pay, they compete on quality of life. Employees with this title earn an average BCG salary of $110,000 per year as a base rate, with performance bonuses of up to $20,000. The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. Management Consultant Salary United States. It pays to be in the US both from a salary and cost-of-living perspective. Javelin Group, part of Accenture Strategy, provides strategy consulting and digital transformation services to the worlds leading retailers and consumer brands. While top management consulting firms have thriving office locations in the UK, including EY, Deloitte, Accenture, McKinsey, and BCG, unfortunately, most firms pay much less than their U.S. counterparts. 18 lists of top consulting firms, on 18 different criteria, all updated for 2020 - size, prestige, salary, work/life balance, and even more. But the do hire some MBAs in manager roles salary 55k to 65k. This estimate is based upon 154 FTI Consulting Consultant salary report (s) provided by employees or estimated based upon statistical methods. The UK Consultant salary at MBB firms ranges from 90,000-93,000. We are committed consultants with adaptive intelligence. What is the average consultant salary in the UK? 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. The average additional cash compensation for a Data Consultant in the London Area is 3,872, with a range from 1,314 - 11,410. Full-time consulting offers are nice, but bonuses have the potential to take your comp from good to great. However, the salary growth in management consulting outpaces many industry positions. Other top boutiques will generally pay between 80,000-90,000. is_confirmation;var mt = parseInt(jQuery('html').css('margin-top'), 10) + parseInt(jQuery('body').css('margin-top'), 10) + 100;if(is_form){jQuery('#gform_wrapper_110').html(form_content.html());if(form_content.hasClass('gform_validation_error')){jQuery('#gform_wrapper_110').addClass('gform_validation_error');} else {jQuery('#gform_wrapper_110').removeClass('gform_validation_error');}setTimeout( function() { /* delay the scroll by 50 milliseconds to fix a bug in chrome */ jQuery(document).scrollTop(jQuery('#gform_wrapper_110').offset().top - mt); }, 50 );if(window['gformInitDatepicker']) {gformInitDatepicker();}if(window['gformInitPriceFields']) {gformInitPriceFields();}var current_page = jQuery('#gform_source_page_number_110').val();gformInitSpinner( 110, 'https://managementconsulted.com/app/plugins/gravityforms/images/spinner.svg' );jQuery(document).trigger('gform_page_loaded', [110, current_page]);window['gf_submitting_110'] = false;}else if(!is_redirect){var confirmation_content = jQuery(this).contents().find('.GF_AJAX_POSTBACK').html();if(!confirmation_content){confirmation_content = contents;}setTimeout(function(){jQuery('#gform_wrapper_110').replaceWith(confirmation_content);jQuery(document).scrollTop(jQuery('#gf_110').offset().top - mt);jQuery(document).trigger('gform_confirmation_loaded', [110]);window['gf_submitting_110'] = false;wp.a11y.speak(jQuery('#gform_confirmation_message_110').text());}, 50);}else{jQuery('#gform_110').append(contents);if(window['gformRedirect']) {gformRedirect();}}jQuery(document).trigger('gform_post_render', [110, current_page]);} );} ); document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Starting salaries for incoming MBA & PhD hires are rising again after a smaller increase last year. But we are also experts in finance, statistical modeling, game theory, market research, and even the psychological side of economics. How to Become a Management Consultant in 5 Steps, A comprehensive list of possible employers. We work with top executives to help them make better decisions, convert those decisions to actions, and deliver the sustainable success they desire. The potential result? Doubt they will pay higher than that. Monday to Friday. Entry-level Consulting Salaries for Freshers BCG Consultant Salary. Charles River Associates (CRA) is a global consulting firm specializing in litigation, regulatory, financial, and management consulting. I suffered a pretty serious injury outside of work last year that saw me in the hospital for 5 days and off work for 2 months. 2005-2022 Wall Street Oasis. Avasant is a leading management consulting firm focused on translating the power of technology into realizable business strategies. Generally, consulting full-time hires receive signing bonuses, relocation bonuses, end-of-year performance bonuses, and more. The BCG senior partner salary has a base rate of $276,500 with performance bonuses (well) in excess of $500,000 per year. Our consultants use innovative problem-solving approaches and achieve unparalleled analytic depth. BCG salary details differ between countries. Then we develop a powerful way to solve it. Our clients adapt and transform, and together we achieve enduring results. For entry-level roles that means folks coming right out of undergraduate/MS programs the average base salary for consultants in the UK is around ~40,000. The focus on retail means the team has a deep understanding of this sector and of all the essential retail disciplines needed to address the challenges of retailers and brands in adapting to the new consumer era. Privately held since its founding in 1983, A&M is a leading global professional services firm that provides advisory, business performance improvement, and turnaround management services. Your input helps Glassdoor refine our pay estimates over time. salaries in Germany used to be similar to the US when I started around 4 years ago, but with the dollar getting so much stronger since then, there is a big difference nowadays. BCG data scientists earn an average salary of $108,000, with top earners paid over $140,000 a year. This website uses cookies to enable essential functions like the user login and sessions. as I remember my friend having to travel to a client just outside London (1.5 hour) each way when he lives 10 mins from his office in central London and pays premium rent. Clients include leading international companies in several sectors, ranging from heavy industry to services and private equity. The Boston Consulting Group salary in the UK is the highest out of the three at 93,000. Don't forget tax rates are higher in the UK too. PwC Strategy& UK (the firms strategy consulting arm) pays much better than the average Junior Consultant salary in the UK at 52,000. 85% of our work is for clients choosing to work with us again. Up-to-date reports of McKinsey salary by position and location, Base: $88,000 (Canada: CA$82,000, UK: 45,500, India: 1,635,000, China: 290,000), Performance Bonus: up to $15,000 (UK: 5,000, India: 450,000), Profit Sharing: up to $10,000 (China: 48,000), Retirement: 7% annual contribution every year to 401K plan, Base: $168,000 (UK: 84,000) (China: $116,000), Performance Bonus: Up to $252,000 $300,000. Though in my predicament, this is pretty much a non-option, the big 4 clearly has a different wage structure - I was reading some of the UK forums and they were paying the same salaries in London more than a decade ago. Entry-level consultants at BCG can earn up to $112,500 per year, while senior consultants can make up to $215,500. Below, well explore UK consulting salary data for different roles and companies. The escalation to the project leader/manager role is typically the first promotion BCG employees earn after their first two to three years with the company (post MBA). dunnhumby employs over 2,000 experts in offices throughout Europe, Asia, Africa, and the Americas working for transformative, iconic brands such as Tesco, Coca-Cola, Meijer, Procter & Gamble, Raley's, L'Oreal, and Monoprix. 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? Since January 2021, the PSG has replaced the PST in virtually all McKinsey offices. PA is an innovation and transformation consultancy. We equip business leaders with indispensable insights, advice, and tools to achieve their mission-critical priorities today and build the successful organizations of tomorrow. So, why are consultant salaries lower in the UK than in the U.S.? choosing Atlanta over San Francisco). The data comes from our interview prep clients who received written job offers and firm representatives. Likewise, PhDs often (though not always) receive the same compensation as MBAs. newly minted graduates). The average UK consultant salary is ~85,000. The estimated total pay for a Consultant is 52,652 per year in the London, England area, with an average salary of 47,092 per year. Our fact-based strategy, rigorous analytics, and implementation expertise generate original, granular insights that help our clients turn their most difficult challenges into game-changing growth and productivity opportunities. 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