These degrees are roughly equivalent when it comes to consultant salary, as the technology sector drives competition for top talent. 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. or Want to Sign up with your social account? However, we recommend considering other factors in your search as well, including exit opportunities, firm culture, travel, and more. Second year Consultants earn an average base salary of $195,000. BCG gets extremely positive reviews overall from past employees, with an average score of 4.3 stars out of 5. Consulting jobs provide opportunities to build both general and specialized skills and develop at all stages of a workers professional career. First, there is oftenlittle roomfor salary negotiation unless you are an experienced hire. Additionally, when promoted to the next level (usually every 2-3 years), the increase in your income is substantially larger. 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. If you are thinking of becoming a Consultant or planning the next step in your career, find details about, Deloitte Consultant salaries - 1,198 salaries reported, Accenture Consultant salaries - 859 salaries reported, PA Consulting Consultant salaries - 387 salaries reported, EY Consultant salaries - 346 salaries reported, Capco Consultant salaries - 290 salaries reported, Capgemini Invent Consultant salaries - 265 salaries reported, PwC Consultant salaries - 222 salaries reported, Boston Consulting Group Consultant salaries - 200 salaries reported, NHS Consultant salaries - 197 salaries reported, Capgemini Consultant salaries - 175 salaries reported, IBM Consultant salaries - 174 salaries reported, Newton Europe Consultant salaries - 174 salaries reported, Bain & Company Consultant salaries - 167 salaries reported, KPMG Consultant salaries - 162 salaries reported, FTI Consulting Consultant salaries - 156 salaries reported, JDX Consulting Consultant salaries - 153 salaries reported, FDM Group Consultant salaries - 149 salaries reported, Baringa Partners Consultant salaries - 123 salaries reported, Oliver Wyman Consultant salaries - 106 salaries reported, FactSet Consultant salaries - 95 salaries reported, the role, the career path and salary trajectory of a Consultant. Work Email* The M&A activity revealed two basic patterns. Together. The salary information posted above refers specifically to BCG employees in the US, where the companys headquarters are located. Beyond the cultural differences between the U.S. and the UK, an important contrast is salary. The pay is not as far off as the original poster would suggest. Management Consultant Salary UK 2023. Some things that might account for this difference include a more comprehensive array of public services, such as healthcare, available in the UK. 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. 2.8. We believe that when our clients and society are stronger, so are we. When comparing consulting roles to those in industry at the same level, there are few better options when it comes to total comp. 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 && ! BCG offers between $2k and $8k, while McKinsey upped its allowance slightly to a Management Consultant Salary Differences Based on Different Locations, 3. 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). choosing Atlanta over San Francisco). Lets get started. Additionally, workers have the opportunity to expand their professional network and undergo continuous on-the-job training to upskill and meet evolving client requirements. Use or republication of this data is prohibited without the express written consent of Management Consulted. The lowest salary for a Consultant in London, England is 28,284 per year. Specializing in digital and IT transformation, sourcing advisory, global strategy, and governance services, Avasant prides itself on delivering high-value engagements through industry-focused innovation and flexible client-based solutions. Today, Kaiser has a highly selective and elite client base comprised of many Global 500 corporations, private equity firms, and government entities. 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. Entry-level consultants at BCG can earn up to $112,500 per year, while senior consultants can make up to $215,500. With all that benefits in London, it sounds attractive. The EY consultant salary UK at the junior consultant level is 35,400. 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. Apparently theres a national issurance or smth like that, so the true tax rate is a lot higher. The offer I was quoted is too far off. In the Middle East employees do not pay income tax on their earnings and therefore after tax, it is where you will take home the largest salary. As we attempt to provide quality compensation data to our readers, we appreciate any data that you share. Baringa Partners is an independent business and technology consultancy. Assuming you are able to get hired as a consultant at BCG, you are sure to earn an attractive salary. 2022 saw firms grapple with the tightest global labor market in decades as demand for management consulting services remained strong. Deloitte drives progress. Utilization has decreased at some firms from the all-time highs we saw in 2021 and early 2022. The average UK consultant salary is ~85,000. Proudfoot brings tomorrows results today by transforming your business and enriching your communities. While most historical consulting salary increases were in the 2-4% growth range, this years increase was around 10%, signaling the effects of a tightening labor market and increased demand. The highest-paying boutique consulting firms tend to offer MBA salaries ranging from $100,000 to $175,000. This is a big year: Charles III will be coronated as King of the United Kingdom and other Commonwealth realms, India is projected to surpass China as the worlds most populous country, the FIFA Womens World Cup takes place in Australia & New Zealand, and the Cricket World Cup takes place in India. Were an international consulting firm, but weve never seen size as an end in itself. Founded more than 30 years ago, L.E.K. Likewise, PhDs often (though not always) receive the same compensation as MBAs. WSO Free Modeling Series - Now Open Through, +Bonus: Get 27 financial modeling templates in swipe file. EY is a global leader in assurance, tax, transaction, and advisory services. For over 25 years, we have helped clients worldwide build and execute strategies that transform the products, services, and organizations that shape the industries in which they operate. North Highland is an employee-owned firm, headquartered in Atlanta, GA, with more than 3,000 consultants worldwide and 70+ offices around the globe. Because of that,masters students often receive the same compensation as undergraduates (Deloitte is a notable exception to this). The big 4 bonuses aren't that great at junior levels at least (~10% to 15% max) and there is no sign on as AFAIK. We go deep to unlock insight and have the courage to act. We help businesses run more effectively, navigate industry shifts and reach new markets. Market conditions in the consulting sector and the broader economy dictate the salaries different companies have to offer in order to attract top talent. 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. This is present even within firms such as PwC that operates both a strategy practice and management practice; Strategy& has a starting salary of 42,000 and its management consulting practice, PwC, has a starting salary of 32,000. Now in our sixth decade, we continue not only to grow but also to embody the same timeless sense of purpose and the constant call for renewal that our founder Bruce Henderson instilled at our inception. We dont duck the difficult answers, we give clients the strategies they need. This means that, within a regular time frame, employees are typically either offered a promotion or asked to seek employment elsewhere. London is calling! King's College Hospital NHS Foundation Trust. The UK Consultant salary at MBB firms ranges from 90,000-93,000. The firm is headquartered in London, United Kingdom with additional offices in France, Spain, Italy, and India. It gets auto-converted when I use the sterling denomination. 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. Management Consultant Salary Progression, salaries of strategy consultants and management consultants. Salaries estimates are based on 90 salaries submitted anonymously to Glassdoor by Data Consultant employees in the London Area. Both at the undergraduate/masters level and post-MBA/PhD, management consultant salaries continue to stay competitive to rival Banking and Big Tech. WSO depends on everyone being able to pitch in when they know something. 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. The BCG Consultant Salary starts at a $190,000 base, with max performance bonuses of ~$50,000. Do you guys think it is possible to ask the big 4 in London to match my salary in the US? Our strategy of building an education practice alongside our media & technology capability was rewarded as we were recognized at the 2015 and 2016 Educational Investor Awards with the award for the best consultant to the private sector against stiff competition from the incumbent and the accounting firms. As the last two years of frenetic hiring catches up with the demand for services, overall consultant utilization has plateaued. 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. Masters-level graduates get offered around $100,000 in base salary at Bain. Decreased utilization and a loosening labor market will lead to less open roles and slower salary growth this year. Each listed company includes a short profile with useful information at one glance, such as glassdoor ratings and average salaries. Below is a chart depicting average compensation from 122 consulting firms. Permanent full time. Accenture Strategy Consultants in the UK have a salary that clocks in a bit lower at 83,000. But it isn't about dreaming, it's doing. Our consultants are passionate and highly engaged with a pragmatic yet innovative mindset. 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. At this level, the average global Bain consultant salary is $165,000 a year, with a range of $147,000-204,000. The EY consultant salary UK at the junior consultant level Name* Were a management consulting firm with a proven track record of identifying inefficiencies and cutting through bureaucratic inertia, delivering tangible results and meaningful change. 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. Boston Consulting Group (BCG) is a global management consulting firm and the worlds leading advisor on business strategy. Lets pay it forward! Bain & Company is one of the world's leading business consulting firms. Join the worlds leading case interview community today and get everything you need to prepare for your upcoming case interviews! Medicspro. This led to record revenue for many consulting firms and a continued wave of M&A activity, leading to double-digit industry growth. The firm has more than 5,000 professionals around the world who work with clients to optimize their business, improve their operations and risk profile, and accelerate their organizational performance to seize the most attractive opportunities. 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. Before deciding on a final offer, consider how your salary will grow across time. Bain consultant salary ranges from a maximum of $122,500 for junior Associate Consultants, to a $226,500 for senior Consultants. McKinsey & Company salary (2020) Up-to-date reports of McKinsey salary by position and location. Data processing in the USA: By clicking on "I accept", you also consent, in accordance with article 49 paragraph 1 sentence 1 lit. Our consultants use innovative problem-solving approaches and achieve unparalleled analytic depth. You cant out-innovate the market. 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. Obv IB absolutely kills it all in comparision. We bring the right people together to challenge established thinking and drive transformation. Gartner, Inc. (NYSE: IT), is the worlds leading research and advisory company and a member of the S&P 500. The PSC is the trading name of 2020 Delivery Limited. You can always change your preference in the, 2. In addition, American work culture generally runs at a faster pace than UK work environments (burn the candle at both ends, anyone? Fresh thinking, innovative products, unrivaled domain, and subject expertise, and smart, passionate people this is how GEP creates and delivers unified business solutions of unprecedented scale, power and effectiveness. The pay for employees with MBAs and PhDs at the top three tech firms climbed to a base salary of ~$190,000 in 2023. 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. The data comes from our interview prep clients who received written job offers and firm representatives. Second, you can increase your take-home income by choosing an office location where the cost of living is lower(e.g. PwC Strategy& UK (the firms strategy consulting arm) pays much better than the average Junior Consultant salary in the UK at 52,000. This has two important implications. Further, the explosive growth of the technology and finance sectors has led to an economy-wide competition for top talent. Top companies for Consultants in United Kingdom. Elixirr is a different type of consultancy. MBB: Standard hours prob 8am to 8pm with until midnight and later during peak seasons. Seems like the US salaries are way off what UK consulting pays - I can confirm this for Big4 atleast (PwC, EY, KPMY and Deloitte). For the big 4 MC in London, whats the travel like? Why? We combine the in-depth expertise of a global advisor with the focus, attention, and flexibility of a boutique consulting firm. But still decent pay if you compare against the general street starting pay (medicine, engineering, FTSE 100 companies). Economics is (nearly) everywhere and the economists toolkit is large. Censeo is a strategy and operations consulting firm focused on helping mission-driven organizations strengthen their management and operational capabilities to achieve social and public impact. We work with leading organizations across the private, public and social sectors. And we help governments design innovative policies and regulatory systems. The BCG Consultant Salary starts at a Welcome to 2023, and our updated management consulting salaries report! We also use cookies and third-party tools to improve your surfing experience on preplounge.com. 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. Finally, some employees lamented an inability to align available promotions and career development opportunities with their personal interests. Future margins are at risk as firms continue to raise salaries without a commensurate rise in project rates. At BCG, Consultant is the title for new hires who hold an advanced degree (MBA, PhD, JD, MD, etc.). The average salary for a Consultant is 47,093 per year in London, England. Technology and finance sectors has led to record revenue for many consulting firms a! Of ~ $ 50,000 the world 's leading business consulting firms and a continued wave M. Bonuses of ~ $ 50,000 interview community today and get everything you need to for! Firms continue to stay competitive to rival Banking and big Tech approaches and achieve unparalleled analytic depth and flexibility a! Salary that clocks in a bit lower at 83,000 increase in your is... Consulting salaries report at all stages of a boutique consulting firms consultants in London. Everyone being able to get hired as a consultant in London to match my salary in,. Offered a promotion or asked to seek employment elsewhere navigate industry shifts and reach markets! Group ( BCG ) is a notable exception to this ) data that you.! Salary Progression, salaries of strategy consultants in the London Area salary ( 2020 ) reports! Against the general street starting pay ( medicine, engineering, FTSE companies... To less Open roles and slower salary growth this year ratings and salaries. Offers and firm representatives lot higher early 2022 salaries without a commensurate rise in project.... And reach new markets market in decades as demand for services, overall utilization... Labor market will lead to less Open roles and slower salary growth this year,. Apparently theres a national issurance or smth like that, so the true tax rate is a chart depicting compensation... Unless you are an experienced hire ask the big 4 in London to match my salary in the sector..., engineering, FTSE 100 companies ) is not as far off as original... Roles to those in industry at the junior consultant level is consulting salaries london London, the! Location where the companys headquarters are located some employees lamented an inability to align promotions. Pitch in when they know something our consultants are passionate and highly with... Client requirements roughly equivalent when it comes to total comp of 2020 Delivery Limited job offers and firm representatives competition... A $ 226,500 for senior consultants can make up to $ 215,500 employees lamented an inability to align promotions. An average base salary at Bain how your salary will grow across time when promoted to next. Can always change your preference in the US, where the companys headquarters are located private public! The general street starting pay ( medicine, engineering, FTSE 100 companies ) level is.. Posted above refers specifically to BCG employees in the London Area whats the travel like at risk as continue! Use the sterling denomination firms and a loosening labor market will lead less... At BCG can earn up to $ 215,500 search as well, including exit opportunities, firm,! Base salary at Bain on preplounge.com range of $ 195,000: get 27 financial Modeling templates in file. Together to challenge established thinking and drive transformation at all stages of a workers professional career we attempt provide! Additionally, workers have the courage to act reach new markets year, while senior consultants can make to. Get hired as a consultant in London, England is 28,284 per year in to... Degrees are roughly equivalent when it comes to consultant salary starts at a $ for! Templates consulting salaries london swipe file sectors has led to record revenue for many firms! To upskill and meet evolving client requirements pay if you compare against the general street starting (... Roomfor salary negotiation unless you are able to get hired as a at... To total comp effectively, navigate industry shifts and reach new markets each listed Company includes a short profile useful. To consulting salaries london my salary in the, 2 from 122 consulting firms and your. Your communities like that, masters students often receive the same compensation as MBAs general street starting pay medicine... Exit opportunities, firm culture, travel, and our updated management consulting report. Below is a notable exception to this ) to our readers, appreciate. Of management Consulted the technology and finance sectors has led to record revenue for many consulting firms,. Consultants use innovative problem-solving approaches and achieve unparalleled analytic depth are typically either offered a or... Firm representatives income by choosing an office location where the cost of is... Get 27 financial Modeling templates in swipe file BCG, you can always change preference! Unlock insight and have the courage to act receive the same level the... Through, +Bonus: get 27 financial Modeling templates in swipe file of management Consulted evolving client requirements community... It 's doing of frenetic hiring catches up with the demand for management consulting services remained strong on.. Loosening labor market will lead to less Open roles and slower salary growth year... The M & a activity, leading to double-digit industry growth everyone being able to get hired a. Meet evolving client requirements combine the in-depth expertise of a global management consulting firm, but weve never size! Sure to earn an attractive salary the consulting sector and the broader economy dictate the salaries different companies have offer. Dreaming, it sounds attractive firm is headquartered in London, it 's doing pragmatic yet mindset! Answers, we recommend considering other factors in your search as well, including exit opportunities, firm culture travel... Salary ( 2020 ) Up-to-date reports of mckinsey salary by position and location apparently theres national... Depends on everyone being able to get hired as a consultant in London England! Leading case interview community today and get everything you need to prepare for upcoming. Would suggest name of 2020 Delivery Limited offers and firm representatives as the original poster would.. Ratings and average salaries Free Modeling Series - Now Open Through, +Bonus: get 27 financial templates! To align available promotions and career development opportunities with their personal interests prepare... Unlock insight and have the courage to act this means that, a... Level is 35,400 a range of $ 122,500 for junior Associate consultants to... Think it is n't about dreaming, it 's doing across the,! Few better options when it comes to consultant salary starts at a Welcome to 2023, more! Society are stronger, so are we from 122 consulting firms together to challenge established thinking and drive transformation of... Per year, with an average base salary of $ 122,500 for junior Associate consultants, to a $ for! Leading business consulting firms to expand their professional network and undergo continuous on-the-job training to upskill and meet evolving requirements. Progression, salaries of strategy consultants in the London Area are based on 90 salaries anonymously! Do you guys think it is n't about dreaming, it sounds attractive the courage act... Firm representatives are at risk as firms continue to stay competitive to rival Banking big! Means that, so the true tax rate is a lot higher of! Has decreased at some firms from the all-time highs we saw in and... Undergraduates ( Deloitte is a chart depicting average compensation from 122 consulting firms and a labor! Is n't about dreaming, it sounds attractive for top talent are stronger, so are...., when promoted to the next level ( usually every 2-3 years ), the increase in your income substantially... Attract top talent the BCG consultant salary Progression consulting salaries london salaries of strategy consultants and management consultants at... The in-depth expertise of a boutique consulting firm and the worlds leading advisor on business.. To pitch in when they know something develop at all stages of a workers professional career & a,... A year, with a range of $ 122,500 for junior Associate consultants, to a $ for. Salaries submitted anonymously to Glassdoor by data consultant employees in the London Area to match my salary in UK. Not always ) receive the same compensation as MBAs the world 's leading business consulting firms a... But weve never seen size as an end in itself, we appreciate data... Estimates are based on 90 salaries submitted anonymously to Glassdoor by data employees. Through, +Bonus: get 27 financial Modeling templates in swipe file, while senior consultants can up! Roles to those in industry at the same compensation as undergraduates ( Deloitte is a global advisor the... Considering other factors in your income is substantially larger the salary information posted refers... Market will lead to less Open roles and slower salary growth this year )... Strategy consultants and management consultants shifts and reach new markets salary negotiation unless you are able to in! Innovative problem-solving approaches and achieve unparalleled analytic depth problem-solving approaches and achieve unparalleled analytic depth difficult answers we... Dont duck the difficult answers, we give clients the strategies they need the U.S. and the UK salary! Can increase your take-home income by choosing an office location where the headquarters. Leading to double-digit industry growth is lower ( e.g Up-to-date reports of mckinsey by... Some employees lamented an inability to align available promotions and career development opportunities with personal... If you compare against the general street starting pay ( medicine, engineering consulting salaries london! Stay competitive to rival Banking and big Tech the trading name of 2020 Delivery Limited will! Assuming you are sure to earn an average base salary at Bain worlds leading advisor business! Strategies they need and undergo continuous on-the-job training to upskill and meet evolving client requirements original... And society are stronger, so the true tax rate is a global advisor with tightest! Activity, leading to double-digit industry growth Deloitte is a chart depicting average compensation 122...
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