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) At McKinsey, Bain, and BCG, management consulting salaries are relatively flat across all offices within a country. Find out what management consultants earn in the UK! PA is an innovation and transformation consultancy. 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. Et dolores harum est sed sed debitis consequatur. We have taken data from PayScale as reference and listed down the average consulting salaries for freshers (i.e. Frontier Economics: We help companies with their biggest challenges market strategies, regulatory reviews, and competition inquiries. 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. Newton: Our approach is different deliberately. At the post-MBA level folks with an MBA, PhD, or ~7+ years work experience that jumps up quite a bit to ~85,000. 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. 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. 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. are we using "PS" to mean pounds sterling? We also use cookies and third-party tools to improve your surfing experience on preplounge.com. Top companies for Consultants in United Kingdom. Take me straight to the first consultancy. This field is for validation purposes and should be left unchanged. At MBB firms in the UK (Bain, McKinsey, and BCG), analyst salaries hover around 46,000. But still decent pay if you compare against the general street starting pay (medicine, engineering, FTSE 100 companies). Entry-level consultants at BCG can earn up to $112,500 per year, while senior consultants can make up to $215,500. At OC&C Strategy consultants we have more than 30 years of experience in unpicking the most complex business challenges with simple, uncommon sense. At MBB firms in the UK (Bain, McKinsey, and BCG), analyst salaries hover around 46,000. 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. Management Consultant Salary UK 2023. 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? Consultant salaries at FTI Consulting can range from 26,530 - 61,166 per year. The role is usually called either Consultant or Associate, depending on the firm. Top Consulting Firms Consulting Firms to Work For. Is compensation in the UK higher than in the U.S.? These industry-wide trends make jumping across the pond less likely for U.S.-based consultants, and more likely for UK-based consultants. Overall, consulting salaries are highly competitive compared to other industries. As the last two years of frenetic hiring catches up with the demand for services, overall consultant utilization has plateaued. Quae praesentium blanditiis nihil totam illo sed fugiat. (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. Maybe an odd weekend too during busy season. Likewise, PhDs often (though not always) receive the same compensation as MBAs. 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. But we are also experts in finance, statistical modeling, game theory, market research, and even the psychological side of economics. We believe that when our clients and society are stronger, so are we. Simon-Kucher & Partners is a global consulting firm specializing in TopLine Power, which encompasses strategy, marketing, pricing, and sales. However, more large companies are setting up their own in-house consulting and analytics operations. Generally, consulting full-time hires receive signing bonuses, relocation bonuses, end-of-year performance bonuses, and more. Below, well explore UK consulting salary data for different roles and companies. 15 reviews 13 salaries reported. We call this union of belief, motivation, and capability Abundant Thinking. 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. Ours is a world of opportunity. McKinsey & Company is a global management consulting firm. In addition, the pound was worth twice as much as the dollar as recently as 2010; salaries dont change with exchange rate, so UK salaries carry less value nowadays. Our servers are powered by electricity from renewable sources. What do you get when you put it all together? The average annual Junior Consultant salary (AKA Consulting Analyst salary) in the UK is a bit under 40,000. As strategies, technologies, and innovation collide, we turn complexity into opportunity. It gets auto-converted when I use the sterling denomination. As part of the PwC network, Strategy& helps clients solve their issues from strategy through to execution. Its a big year for the consulting industry as well. Baringa Partners is an independent business and technology consultancy. The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. The US pays its graduates the second-highest rate with a salary of $77,000 surprisingly paying a significant $13,000 more than the Middle East which has a reputation for paying high wages. Greenwich Associates is the leading global provider of data, analytics, and insights to the financial services industry. All of these firms pay generous bonuses to their juniors as well, akin to those paid in investment banking and c. 15,000 from year 1. This means that, within a regular time frame, employees are typically either offered a promotion or asked to seek employment elsewhere. Anyone work at Point B and want to share their experience or have any insight about salary for managing consultant? McKinsey & Company salary (2020) Up-to-date reports of McKinsey salary by position and location. The USA is not considered to have adequate data protection legislation. Current comp is 32800. What these figures do not account for is the income tax rate in each country. Don't forget tax rates are higher in the UK too. Deloitte Government & Public Services Undergraduate & Masters BCG (Boston Consulting Group) salary (2020) Comprehensive guide to BCG salary in 2020! 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. While most consultant work in the UK is centered in and around London, firms have a strong U.S. presence across cities, including New York City, Chicago, San Francisco, Dallas, Houston, Boston, Washington, DC and more. Simon-Kucher & Partners is regarded as the world's leading pricing advisor and thought leader. Americans, on average, work more hours with less time off than their UK counterparts. Rapid7 salary and other benefits for a consultant role (penetration tester)? Often, our interview prep clients will receive slightly higher job offers in tech than in consulting. 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. CIL is an independent management consultancy. All of the data and our expanded insights are included in the full downloadable report get a copy for free below. Combining unmatched experience and specialized skills across more than 40 industries and all business functionsunderpinned by the worlds largest delivery networkAccenture works at the intersection of business and technology to help clients improve their performance and create sustainable value for their stakeholders. We work with our clients to build the capabilities that enable organizations to achieve sustainable advantage. We bring the big ideas, then we make them real. Javelin Group helps clients improve their competitiveness by anticipating and responding to the rapid changes in customer shopping habits and retail technologies. or Want to Sign up with your social account? In so doing, we play a critical role in building a better working world for our people, our clients, and for our communities. BearingPoint is an independent consulting firm with European roots and global reach. McKinsey and Bain both pay 90,000. 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. Before deciding on a final offer, consider how your salary will grow across time. Overall, the consulting market has been undergoing a number of changes. 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. Principal consultant salaries are, on average, higher than salaries at many other levels (except for Partner). The BCG Consultant Salary starts at a More firms are starting to offer returning interns a larger signing bonus than full-time counterparts who interned somewhere else. In this article, well take a deeper look at that and compensation expectations in consulting by position. If you need more information please view the individual settings. The firm only pay for hotels after its a certain distance outside home city. Its clear that if youre in it for the money, working in the U.S. is the place to be for consultant salaries. Whats the post mba salary as a senior consultant at West Monroe now that theyre more focused on base salary instead of ESOP? The biggest factor in deciding which career to choose or firm to join is salary. Finally, some employees lamented an inability to align available promotions and career development opportunities with their personal interests. At McKinsey,the salary for 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. We question everything and apply thoughtful and rigorous analysis to each challenge, issue, and opportunity. Below is a chart depicting average compensation from 122 consulting firms. Other top boutiques will generally pay between 80,000-90,000. Interns with an undergraduate degree or non-MBA masters degree earn a salary of ~$21,000. The BCG Consultant Salary is one of the primary reasons to consider applying for a position at the Boston Consulting Group. McKinsey Analysts in the US may earn up to $100,000 per year in salary, with $88,000 base and $15,000 performance bonus. 85% of our work is for clients choosing to work with us again. Partner-level managers (partners, directors, principals) can earn up to $1,000,000-$1,300,000. There are two levels of partner at BCG. Mollitia qui cupiditate consequatur magni tempore voluptatum. 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. Things like free healthcare and tougher labour law don't sound that valuable until you need to use them. There is a large variation in management consulting salaries within firms across different countries. Monthly internship salaries are typically prorated based on starting salaries for new hires. We help our clients realize their goals by applying our deep industry and functional expertise to understand and address their specific needs. BCG salary at this stage includes a base rate of $252,900, with performance bonuses from $120,000-220,000. 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. Our article on McKinsey Case Interview will give you deep insights into this final stage, exploring what challenges you need to solve. 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. The rise in competition for top talent has accelerated this development. For employees with an undergraduate degree or a non-management Masters degree, the BCG salary rose to $110,000 in 2023. Kim KardashianDoja CatIggy AzaleaAnya Taylor-JoyJamie Lee CurtisNatalie PortmanHenry CavillMillie Bobby BrownTom HiddlestonKeanu Reeves Business, Economics, and Finance GameStopModernaPfizerJohnson & JohnsonAstraZenecaWalgreensBest BuyNovavaxSpaceXTesla Crypto CardanoDogecoinAlgorandBitcoinLitecoinBasic Attention 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 have 207,000 outstanding professionals working together to deliver value in 153 countries and territories. The UK is where consultants will always earn the least amount of money with both gross and net salary being bottom by a significant margin. We help executive boards to truly understand this and then work with them to ensure their business model can respond effectively to disruptive market forces. This has two important implications. Luckily for you, the consulting industry has never been stronger. Each grade promotion is worth an approximate 20-30% increase in salary. 2.8. With a worldwide presence, KPMG continues to build on our successes thanks to a clear vision, defined values, and, above all, our people. 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. Training & Recruiting Support for Companies. 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. Because of that, the net income after a few years in consulting can exceed those in other industries, despite an initially lower base pay. Sorry, you need to login or sign up in order to vote. These degrees are roughly equivalent when it comes to consultant salary, as the technology sector drives competition for top talent. Oliver Wyman is a global leader in management consulting. This is important to note, as you should be applying for the position the firm wants to hire you for. BCG data scientists earn an average salary of $108,000, with top earners paid over $140,000 a year. 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. The longer you stick around (or are allowed to stick around, given that many firms have up or out policies) the more money youll make. The reported global range for the Bain consultant salary at this level was $40,000 up to $110,000. There is a clear divide between the starting salaries of strategy consultants and management consultants with a pay gap of around 10,000. Teneo (formerly Credo): We look at everything through the eyes of the CEO, working with the leaders of Fortune 500 and FTSE 100/250 companies, the leading private equity houses, and major public-sector organizations. 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. Learn more about training for your team or organization 2022 saw firms grapple with the tightest global labor market in decades as demand for management consulting services remained strong. 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