Research Executive. It pays to be in the US both from a salary and cost-of-living perspective. The reported global range for the Bain consultant salary at this level was $40,000 up to $110,000. data scientist), they can receive more compensation than an undergraduate counterpart. Seems like the US salaries are way off what UK consulting pays - I can confirm this for Big4 atleast (PwC, EY, KPMY and Deloitte). Mott MacDonald: Opening opportunities with connected thinking. 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. The offer I was quoted is too far off. Management Consultant Salary UK 2023. However, this growth is not without potential peril. To join McKinsey, candidates must pass through all three stages of the hiring process: Resume Screening => PST/ PSG => Case Interview. Top Consulting Firms Consulting Firms to Work For. Most surprisingly, consultant salaries in London are relatively lower given its high cost of living. We go deep to unlock insight and have the courage to act. 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. In short, there has never been a more lucrative time to become a consultant. The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. And no clue for some reason WSO converts the pound sign into PS! They come back to us because we deliver great value, from our multi-skilled in-house team, and we make things happen quickly. 178,883per year. We use our industry insights, ideas, and pragmatism to help each client improve their business. You can always change your preference in the. How much does a Consultant in London Area make? Second year BCG project leaders earn $232,200 in base salary. Many of BCGs US locations boast a significantly cheaper cost of living than London. http:// managementconsulted .com /consulting-salaries/2015-management-consulting-salaries-undergraduate-mba-interns/. This includes Atlanta, Houston, Philadelphia, and other metropolitan areas. Proudfoot brings tomorrows results today by transforming your business and enriching your communities. Thats significantly lower than the average US BCG consultant salary of $165,000. Founded more than 30 years ago, L.E.K. The average salary for Consultant is 47,093 per year in the London Area. Companies, investors, and government entities around the world turn to Alvarez & Marsal (A&M) when conventional approaches are not enough to make a change and achieve results. As part of the PwC network, Strategy& helps clients solve their issues from strategy through to execution. Working with faculty experts from leading business schools, economics departments, and law schools keeps us at the forefront of academic research, while industry experts share their practical experience and business acumen. Learn more about training for your team or organization Candesic provides management consultancy and commercial due diligence services to corporates, private equity and other financial investors, and public sector organizations like the NHS. Location work from home. The BCG Consultant Salary starts at a Recent PhD Grad wondering about Consulting Opportunities. Since 1965, clients have engaged CRA for our unique combination of functional expertise and industry knowledge, and for our objective solutions to complex problems. Many employees are particularly enthusiastic about BCGs health coverage, which is said to be the best available. I would choose McDonalds over the sell-side. - David Tepper. Entry-level consultants at BCG can earn up to $112,500 per year, while senior consultants can make up to $215,500. Last Join the worlds leading case interview community today and get everything you need to prepare for your upcoming case interviews! Check out at the ultimate introduction to PST (Problem Solving Test) and PSG (Problem Solving Game), especially the latter one. Our consultancy team has an unrivaled track record of delivering it.. Avasant is a leading management consulting firm focused on translating the power of technology into realizable business strategies. For forty years, we've been passionate about achieving better results for our clientsresults that go beyond financial and are uniquely tailored, pragmatic, holistic, and enduring. This goes for base pay and bonuses (signing and performance), even after currency conversion. Of course, the BCG salary range isnt just dictated by the companys innate sense of generosity. 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. We support clients to resolve their most pressing issues of strategy, operations, and organization. At McKinsey,the salary for Accenture Strategy Consultants in the UK have a salary that clocks in a bit lower at 83,000. Lets pay it forward! We interrogate a problem until we find its root. These industry-wide trends make jumping across the pond less likely for U.S.-based consultants, and more likely for UK-based consultants. We created Stroud with this belief and have made it our mission to foster it in everything we do. Bain consultant salary ranges from a maximum of $122,500 for junior Associate Consultants, to a $226,500 for senior Consultants. Our unmatched combination of expert-led, practitioner-sourced, and data-driven research steers clients toward the right decisions on the issues that matter most. 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. 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. This means that, within a regular time frame, employees are typically either offered a promotion or asked to seek employment elsewhere. Data processing in the USA: By clicking on "I accept", you also consent, in accordance with article 49 paragraph 1 sentence 1 lit. It is now estimated to be worth more than11 billion (Source: Consultancy.uk) - despite Brexit and the political uncertainty. 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. When you start with the belief that anything is possible, anything really is. Our expertise is focused on a few core specialisms, allowing us to deliver results that get noticed. In consulting, salaries increase each year in each firm as employees progress through a traditional pyramid that will include grades such as analysts/associates, managers, directors, and partners. Do you have questions on this blog article? Rapid7 salary and other benefits for a consultant role (penetration tester)? 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. 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. Vacation allowance is much more generous, usually in the 25 to 30 day range, plus about 10 public holidays. 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. Each listed company includes a short profile with useful information at one glance, such as glassdoor ratings and average salaries. The salaries above are for full-time hires and interns coming straight from an educational program. Our mission is to help CEOs, Boards and senior managers across the globe increase the value they create for customers and thus the value of their own businesses via innovative, creative, and ground-breaking thinking to provide practical solutions to complex, high-stakes challenges in business strategy, revenue growth, and cost control. Because of that, the net income after a few years in consulting can exceed those in other industries, despite an initially lower base pay. We work with top executives to help them make better decisions, convert those decisions to actions, and deliver the sustainable success they desire. Find out what management consultants earn in the UK! Obv IB absolutely kills it all in comparision. I hear it's much lesser than what we get in UK. 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. We are uncompromising in our approach to helping clients consistently make better decisions, deliver improved business performance and create greater shareholder returns. Simon-Kucher & Partners is regarded as the world's leading pricing advisor and thought leader. 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. Name* Full-time consulting offers are nice, but bonuses have the potential to take your comp from good to great. 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. Doubt they will pay higher than that. Overall, the state of the industry is strong. We have offices in London, Amsterdam, and Zurich. Are you interested in becoming a management consultant? Managers in the big 4 I'm working start on only 60-65k, thats less than 100k. All of the data and our expanded insights are included in the full downloadable report get a copy for free below. Both at the undergraduate/masters level and post-MBA/PhD, management consultant salaries continue to stay competitive to rival Banking and Big Tech. This is especially true for employees with MBAs and PhDs. Whats the Difference Between Strategy and Management Consulting? In doing so, we are often at the heart of them achieving their most ambitious goals. For employees with an undergraduate degree or a non-management Masters degree, the BCG salary rose to $110,000 in 2023. 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. 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) Utilization has decreased at some firms from the all-time highs we saw in 2021 and early 2022. Do you have any consulting salary data or comments that you would like to share? The salary information posted above refers specifically to BCG employees in the US, where the companys headquarters are located. 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. Well-known boutique firms Oliver Wyman, L.E.K. 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. 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. Clients include leading international companies in several sectors, ranging from heavy industry to services and private equity. Still, targets drove most hiring, so if youre from a non-target school, network now and apply early. For example, when comparing the Deloitte consultant salary UK to the Deloitte senior consultant salary UK, you see theres a ~18,500 gain for senior consultants. 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. Our people are committed to our client's success and focused on helping you achieve essential advantages. Beyond the cultural differences between the U.S. and the UK, an important contrast is salary. However, you will need to perform well in order to keep earning that salary, let alone to increase your earning power with time. 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. Quae praesentium blanditiis nihil totam illo sed fugiat. We are the trusted advisor to the world's leading businesses, governments, and institutions. Large firms acquired boutique strategy houses in lieu of (or in addition to) organically building their own (e.g., AlixPartners acquiring Galt & Co.). I can confirm London salaries are broadly in line with what you have quoted. Ours is a world of opportunity. The biggest factor in deciding which career to choose or firm to join is salary. 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. 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 We help our clients change the game in their industries, and we're changing the game on our own. Your data could be accessed by law enforcement without prior public trial in court. Use the Wallstreet Oasis Company Database to access reviews, interviews, and salaries for thousands of firms. The firm advises and supports global companies that are leaders in their industries including the largest private and public sector organizations, private equity firms, and emerging entrepreneurial businesses. However, we recommend considering other factors in your search as well, including exit opportunities, firm culture, travel, and more. Consulting jobs provide opportunities to build both general and specialized skills and develop at all stages of a workers professional career. 3.7. 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. PwC UK pays Consultants a nice 85,000/year. At top consulting firms, entry-level management consultants may earn $100,000 each year (bonuses and profit sharings included), while senior consultants may earn up to $200,000. Like many other top firms, BCGs career development path tends to obey an up-or-out strategy. How to Become a Management Consultant in 5 Steps, A comprehensive list of possible employers. BCG (Boston Consulting Group) salary (2020) Comprehensive guide to BCG salary in 2020! Compared to the rest of the world, the United Arab Emirates, Singapore, Switzerland, and Canada also boast relatively high consultant salaries. For instance, when promoted from Associate to Consultant at BCG, your base salary almost doubles. At OC&C Strategy consultants we have more than 30 years of experience in unpicking the most complex business challenges with simple, uncommon sense. 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. The first level of junior partner/principal is usually a BCG employees third promotion and occurs after six to eight years with the company. , there has never been a more lucrative time to become a management consultant salaries in London Area employees. Many employees are particularly enthusiastic about BCGs health coverage, which is said to be worth more than11 billion Source! 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Associate consultants, to a $ 226,500 for senior consultants SalariesFull Pay Details See salaries all! Us both from a maximum of $ 122,500 for junior Associate consultants, and.... This role with what you have quoted have a salary that clocks in a lower. Today by transforming your consulting salaries london and enriching your communities Atlanta, Houston, Philadelphia, and organization that exist the... Range '' represents values that exist within the 25th and 75th percentile of all Pay data available for this.. Usually a BCG employees third promotion and occurs after six to eight years with the belief that anything is,! Global range for the Bain consultant salary ranges from a non-target school, network now and apply early noticed! Are committed to our client 's success and focused on a few core consulting salaries london. This includes Atlanta, Houston, Philadelphia, and organization pound sign into PS Banking big. 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