Consulting Starting Salary Starting consultant compensation is 20 higher than four years ago However that is little comfort to those entering the industry in 2024 At both the pre MBA and post MBA entry levels 2024 consulting salaries stayed flat compared to 2023 There are exceptions to the rule as you ll see in the report but this is the first time
McKinsey Company consulting salary 2023 Read more McKinsey Salaries Benefits McKinsey s salary for junior level consultants likely ranges from 100 000 to 140 000 per year while the figure for MBA level experienced Associates can be over 200 000 Engagement managers typically earn around 300 000 400 000 while Partners and Directors can earn up to 1 000 000 The COVID 19 pandemic brought on a big freeze in salaries in the consulting industry as participants cut costs bringing to an end the generous pay rises of precedng years The 2021 salary report from industry coaching firm Management Consulted shows that salaries at the top three firms McKinsey Bain and Boston Consulting Group BCG
Consulting Starting Salary
Consulting Starting Salary
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Total pay range 91K 170K yr 122K yr Median total pay Pay breakdown 67K 125K yr Base pay 24K 45K yr Additional pay The estimated total pay for a Consultant is 121 649 per year with an average salary of 89 216 per year These numbers represent the median which is the midpoint of the ranges from our proprietary Total Pay The average Consultant salary in the United States is 108 936 as of July 29 2024 The range for our most popular Consultant positions listed below typically falls between 64 637 and 153 235 Keep in mind that salary ranges can vary widely depending on many important factors including position education certifications additional skills and the number of years you have spent in your
Accenture provides a competitive range of 92 000 to 100 000 with bonuses up to 40 000 Oliver Wyman offers salaries from 154 000 to 231 000 with potential bonuses up to 18 700 and Kearney stands out with a salary range of 168 000 to 252 000 accompanied by potential bonuses up to 15 000 The average salary for a Management Consultant is 96 759 in 2024 Base Salary 67k 155k Bonus 2k 23k Profit Sharing 1k 17k Commission 10 39k
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The average Boston Consulting Group salary ranges from approximately 47 963 per year estimate for a DEI Assistant to 625 671 per year estimate for a Senior Partner The average Boston Consulting Group hourly pay ranges from approximately 21 per hour estimate for a Data Entry Clerk to 189 per hour estimate for a Principal Boston Associate Partner 7 8 years 240 255K 155K 65 395 405K Source CaseCoach Associate Partner includes BCG s Principal and Partner levels In addition to base salaries the table above shows the bonus awarded to an average performer at each level
A management consultant compensation package includes A base salary A one time sign on bonus An annual performance bonus and A one time relocation payment depending on company policy and circumstances The first thing to note is that a management consultant salary is typically non negotiable at the base salary level KPMG Starting Consultant Salary For Those With An MBA or PhD Total Annual Compensation up to 175 000 Consistent with broader industry trends consultant salaries at the post MBA level have gone up faster than post undergraduate consultant salaries However both have increased steadily given increased competition for talent
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Consulting Starting Salary - The Big Three management consulting firms McKinsey Bain and the Boston Consulting Group are increasing starting salaries for MBA consultants by 15 to 17 000 in 2023 according to a new report by ManagementConsulted Total compensation packages for MBA consultants at the Big Three consulting firms also known as MBB are substantially up