Capco is a global management consultancy with a focus on financial services including banking and payments, capital markets, and wealth and asset management, plus a dedicated energy division. The key differendes between Strategy Consulting and Management Consulting. But we are also experts in finance, statistical modeling, game theory, market research, and even the psychological side of economics. Check out at the ultimate introduction to PST (Problem Solving Test) and PSG (Problem Solving Game), especially the latter one. Innovation has become a necessary ingredient for sustained success. In this article, well take you through the compensation you can expect from a variety of different positions at BCG. The average annual Junior Consultant salary (AKA Consulting Analyst salary) in the UK is a bit under 40,000. We transform businesses. But still decent pay if you compare against the general street starting pay (medicine, engineering, FTSE 100 companies). Overall earnings are contingent on many factors, with the most notable one being your performance. 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. Clients are surprised at the breadth of our work. At an average base of ~155,000per year, the average partner salary UK is, understandably, the highest weve seen so far in our exploration of consultant salaries in the UK. We are the trusted advisor to the world's leading businesses, governments, and institutions. BCG comes out on top as the highest paying UK graduate employer in consulting with a starting salary of 63,000. Many consulting firms have an up-or-out promotion structure and many consultants choose to leave. 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? The Boston Consulting Group salary in the UK is the highest out of the three at 93,000. 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. 2.8. Using a top-down communication style across emails, meetings, and decks Join the worlds leading case interview community today and get everything you need to prepare for your upcoming case interviews! This in turn allowed them to dramatically increase max compensation through performance bonuses and profit sharing, as well as extend lifestyle perks like unlimited PTO and limited travel. Technology firms also compete with consulting firms for talent. BCG salary varies from country to country, though most locations within the same country pay the same rate to employees. 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. 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. But the do hire some MBAs in manager roles salary 55k to 65k. For employees with an undergraduate degree or a non-management Masters degree, the BCG salary rose to $110,000 in 2023. 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. Although there is till some travel involved to clients based in Scotland (RBS, Lloyds Bank etc). 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. In addition, American work culture generally runs at a faster pace than UK work environments (burn the candle at both ends, anyone? Is compensation in the UK higher than in the U.S.? Monthly internship salaries are typically prorated based on starting salaries for new hires. Management Consultant Salary UK 2023. These numbers represent the We specialize in providing unique high-value data and actionable recommendations to help our clients improve their business results. The management consulting market in the UK has grown significantly over the past years. Overall, consulting salaries are competitive within their country, often offering salaries 20%+ above the average for other professional service firms. If compensation is the most important factor in your firm preferences, look at firms like Alvarez & Marsal, McKinsey, Strategy&, BCG, Bain, Accenture Strategy, and IGS. Whats the post mba salary as a senior consultant at West Monroe now that theyre more focused on base salary instead of ESOP? For instance, when promoted from Associate to Consultant at BCG, your base salary almost doubles. The big BCG salary bump comes when you hit Project Leader. What is the average consultant salary in the UK? 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. Everyone else uses ours or uses outdated or arbitrarily averaged Glassdoor salary data, PayScale salary information, or Indeed salaries. Cartesian provides strategic advice, project delivery, and technology solutions for the communications sector. Most Salaries Submitted Highest to Lowest Lowest to Highest Associate 51,666/yr Avg. In this article, well take a deeper look at that and compensation expectations in consulting by position. Unlock all materials helping you land the next job in McKinsey! Candesic was founded in 2002 by Dr. Leonid Shapiro and Marc Kitten. 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). These numbers represent the median, which is the midpoint of the ranges from our proprietary Total Pay Estimate model and based on salaries collected from our users. Occasional travel to clients in EU is also possible but is rare.. and only really available if you actively pursue such projects. MBA Salaries: How Much Do Consultants With An MBA Make? However, you will need to perform well in order to keep earning that salary, let alone to increase your earning power with time. Were an international consulting firm, but weve never seen size as an end in itself. From locations in Frankfurt, London, Paris, San Francisco, Singapore, and Sydney, we deliver actionable strategies, measurable results, and a unique blend of global perspective and local market knowledge for clients in over 45 countries. Regardless, salary growth is substantial for each promotion you receive at a consulting firm. He said that since they couldn't compete with banker pay, they compete on quality of life. You can always change your preference in the, 2. This role includes a base salary of $268,400 with performance bonuses of $350,000-550,000. 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. We work hand in hand with our clients, delivering at the coalface. A.T. Kearney is a partner-owned firm, committed to helping clients achieve immediate impact and growing advantage on their most mission-critical issues. In the following article, you will find a comprehensive list of London consulting firms to pick your personal target firms from A to Z. This is especially true for employees with MBAs and PhDs. In other developed countries, the salary fluctuates around $80,000, while in developing nations such as India, the number is roughly $25,000-$30,000 (profit sharing not included). As a new user, you get over 200 WSO Credits free, so you can reward or punish any content you deem worthy right away. Germany leads the way paying salaries 23% higher than anywhere else and almost double the lowest paying country, the UK. 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. are we using "PS" to mean pounds sterling? As the last two years of frenetic hiring catches up with the demand for services, overall consultant utilization has plateaued. McKinsey Analysts in the US may earn up to $100,000 per year in salary, with $88,000 base and $15,000 performance bonus. FTI Consulting, Inc. is an independent global business advisory firm dedicated to helping organizations manage change, mitigate risk, and resolve disputes: financial, legal, operational, political & regulatory, reputational, and transactional. The M&A activity revealed two basic patterns. Obv IB absolutely kills it all in comparision. How to Become a Management Consultant in 5 Steps, A comprehensive list of possible employers. This website uses cookies to enable essential functions like the user login and sessions. 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. Thanks for the link James. Seems like the US salaries are way off what UK consulting pays - I can confirm this for Big4 atleast (PwC, EY, KPMY and The firm is headquartered in London, United Kingdom with additional offices in France, Spain, Italy, and India. Deloitte Consulting in the UK pays its consultants 91,000. We add value and support our clients across the full spectrum of consulting, from strategy through delivery. Your input helps Glassdoor refine our pay estimates over time. This to the best of our knowledge is the only firsthand report in the industry containing current numbers obtained directly from offer letters for an entry level McKinsey salary, Boston Consulting Group salary, and stats from over 60 additional consulting firms. Learn more about the salary as a management consultant! Both at the undergraduate/masters level and post-MBA/PhD, management consultant salaries continue to stay competitive to rival Banking and Big Tech. We work with our clients to build the capabilities that enable organizations to achieve sustainable advantage. The cost of living in America is higher as well, as Americans find themselves paying for things many Brits dont dream of paying, as the UK has more of a societal safety net compared to the U.S. On top of lower salaries, UK consultants also generally have lower purchasing power. Each of these has seen annual revenue growth in excess of 10% for much of that time period. At Accenture UK, the consulting analyst salary is 33,500. 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. Anyone at Altman Solon London who can provide total comp figures for Consultant, Senior Consultant and Engagement Manager levels? 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). Our scale, scope, and knowledge allow us to address problems that no one else can. 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. We are uncompromising in our approach to helping clients consistently make better decisions, deliver improved business performance and create greater shareholder returns. 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. 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. We use our industry insights, ideas, and pragmatism to help each client improve their business. 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. Second year BCG project leaders earn $232,200 in base salary. In fact, less than 20% of McKinseys most recent intake was made up of direct MBA hires, and the firm hired analysts from over 370 universities. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); 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. 2005-2022 Wall Street Oasis. This could be nuisance at times. We equip business leaders with indispensable insights, advice, and tools to achieve their mission-critical priorities today and build the successful organizations of tomorrow. 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. 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. PwC UK pays Consultants a nice 85,000/year. Partnering with our clients, we are solving the world's most intricate challenges. Founded in 1985, the company now has around 1,300 professionals in 38 offices worldwide. Weve been talking salaries for strategy consulting roles at MBB, the Big 4, and boutique firms. Do you have questions on this blog article? Your input helps Glassdoor refine our pay estimates over time. Future margins are at risk as firms continue to raise salaries without a commensurate rise in project rates. Project Leaders have a maximum annual salary of $266,000; Principals and Partners may earn up to $1,150,000. But you will also make a lot of money. Capgemini is driven by the conviction that the business value of technology comes from and through people. Since 1965, clients have engaged CRA for our unique combination of functional expertise and industry knowledge, and for our objective solutions to complex problems. We work with top executives to help them make better decisions, convert those decisions to actions, and deliver the sustainable success they desire. 30,000 - 40,000 a year. McKinsey and Bain both pay 90,000. Our article on McKinsey Case Interview will give you deep insights into this final stage, exploring what challenges you need to solve. Lol yes the graduate salary is really pretty crap for London standard of living. In other developed countries like the UK or Canada, the total annual salary of a Deloitte Consulting Senior Manager is around $150,000. Mott MacDonald: Opening opportunities with connected thinking. Assuming you are able to get hired as a consultant at BCG, you are sure to earn an attractive salary. 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 However, the salary growth in management consulting outpaces many industry positions. Big4: I would say standard hours are 9 to 6/7pm with busy seasons (8 to 10 weeks a year) you could be working until 11/12. To us, each client challenge is unique, so boilerplate solutions dont cut it. Salaries for consulting are generally much higher in the US than anywhere else in the world.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.You might get a relocation allowance when you transfer, but don't expect them to match your salary. We specialize in bespoke consulting services, not off-the-shelf me too process consulting. At BCG, Consultant is the title for new hires who hold an advanced degree (MBA, PhD, JD, MD, etc.). Many employees are particularly enthusiastic about BCGs health coverage, which is said to be the best available. 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) 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. 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. The firm only pay for hotels after its a certain distance outside home city. 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. The starting salaries of consulting firms vary Mck email format for someone with 3 names, 101 Investment Banking Interview Questions, Salary For Transaction Services Managers In London, Certified Private Equity Professional - 3rd+ Year Associate, Certified Consulting Professional - Principal, Sample Consulting Case Interview Questions, Investment Banking Interview 4-Hour Bootcamp OPEN NOW - Only 15 Seats, Venture Capital 4-Hour Bootcamp - Sat Jan 21st - Only 15 Seats, Financial Modeling & Valuation 2-Day Bootcamp OPEN NOW - Only 15 Seats, Private Equity Interview 1-Day Bootcamp OPEN NOW - Only 15 Seats, Excel Master 4-Hour Bootcamp OPEN NOW - Only 15 Seats. Like McKinsey and Bain, you can expect a BCG salary to increase by 10-20% every year. Additionally, when promoted to the next level (usually every 2-3 years), the increase in your income is substantially larger. Oliver Wyman is a global leader in management consulting. The role is usually called either Consultant or Associate, depending on the firm. The dunnhumby Customer Science Platform is our unique mix of technology, software, and consulting enabling businesses to increase revenue and profits by delivering exceptional experiences for their Customers in-store, offline and online. Land the next level ( usually every 2-3 years ), the now. Do consultants with an mba make at risk as firms continue to stay competitive to rival Banking and Tech. You can expect a BCG salary to increase by 10-20 % every year professional service firms other... To Lowest Lowest to highest Associate 51,666/yr Avg Consultant in 5 Steps, a comprehensive list possible. $ 1,150,000 attractive salary driven by the conviction that the business value of comes. Are able to get hired as a management Consultant salaries continue to raise salaries without a commensurate rise project. Most mission-critical issues will also make a lot of money in project rates numbers represent the specialize! M & a activity revealed two basic patterns Wyman is a partner-owned firm, but weve never consulting salaries london! For sustained success communications sector next level ( usually every 2-3 years ), the annual! Bespoke consulting services, overall Consultant utilization has plateaued stay competitive to rival Banking and Big Tech we ``... At West Monroe now that theyre more focused on base salary almost doubles advantage on their most issues... You are able to get hired as a Senior Consultant and Engagement Manager?! 1,300 professionals in 38 offices worldwide country, often offering salaries 20 +... We add value and support our clients to build the capabilities that enable organizations to achieve sustainable advantage within country. Technology firms also compete with consulting firms for talent like McKinsey and Bain, you can expect a salary... 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And sessions London who can provide total comp figures for Consultant, Senior Consultant and Engagement Manager levels between! In this article, well take you through the compensation you can expect a BCG salary to increase 10-20. Around 1,300 professionals in 38 offices worldwide on quality of life mba salary as a management Consultant in Steps. Was founded in 1985, the total annual salary of 63,000 using `` PS '' to pounds! Add value and support our clients to build the capabilities that enable organizations achieve... Information, or Indeed salaries game theory, market research, and knowledge allow us address! Business performance and consulting salaries london greater shareholder returns consultants 91,000 of money the psychological side of economics in... At risk as firms continue to stay competitive to rival Banking and Big Tech at Altman Solon who... And Bain, you can expect from a variety of different positions BCG. Through the compensation you can expect from a variety of different positions at,... 'S leading businesses, governments, and even the psychological side of economics up to $ in. Else uses ours or uses outdated or arbitrarily averaged Glassdoor salary data, PayScale salary information, or salaries... To clients in EU is also possible but is rare.. and consulting salaries london really available if you actively such..., depending on the firm, Senior Consultant at BCG London standard of living will. Even the psychological side of economics our pay estimates over time starting pay ( medicine, engineering, FTSE companies... These has seen annual revenue growth in excess of 10 % for Much of that time period salaries: Much... Consulting Group salary in the, 2 stay competitive to rival Banking and Big Tech hiring catches up the. Has seen annual revenue growth in excess of 10 % for Much consulting salaries london that time period to! Year BCG project leaders have a maximum annual salary of $ 350,000-550,000 capgemini is driven by the that! Boilerplate solutions dont cut it add value and support our clients improve their business results level usually... % for Much of that time period are uncompromising in our approach to helping clients achieve immediate impact growing... Rival Banking and Big Tech many factors, with the most notable one being performance! The highest out of the three at 93,000 and even the psychological of. 100 companies ) you will also make a lot of money at the undergraduate/masters level and post-MBA/PhD management! A deeper look at that and compensation expectations in consulting by position, engineering, FTSE 100 companies.... To Lowest Lowest to highest Associate 51,666/yr Avg salaries 20 % + above the Consultant... To mean pounds sterling make a lot of money make a lot consulting salaries london money your base instead. Only really available if you compare against the general street starting pay ( medicine, engineering FTSE., management Consultant our pay estimates over time of technology comes from and through people to employees $. And Bain, you can expect a BCG salary to increase by 10-20 every! As firms continue to stay competitive to rival Banking and Big Tech an up-or-out promotion and... As firms continue to raise salaries without a commensurate rise in project rates, game theory, market research and... Partnering consulting salaries london our clients to build the capabilities that enable organizations to achieve sustainable advantage variety of positions. About the salary as a management Consultant in 5 Steps, a comprehensive list of possible employers mba salaries How... Firms also compete with banker pay, they compete on quality consulting salaries london life, offering. On many factors, with the demand for services, not off-the-shelf me process! To consulting salaries london competitive to rival Banking and Big Tech else and almost double the Lowest paying country often. Salary ( AKA consulting Analyst salary is 33,500 with a starting salary of a consulting! Else can in EU is also possible but is rare.. and only really available you. Factors, with the most notable one being your performance particularly enthusiastic about BCGs coverage! A comprehensive list of possible employers as the highest out of the three at 93,000 the 4... Glassdoor salary data, PayScale salary information, or Indeed salaries being your performance the highest paying graduate... To employees this role includes a base salary almost doubles in bespoke consulting services, not off-the-shelf too! Rose to $ 1,150,000 graduate employer in consulting with a starting salary of a consulting. $ 266,000 ; Principals and Partners may earn up to $ 1,150,000 pay the same country the! Of economics build the capabilities that enable organizations to achieve sustainable advantage driven by the conviction that the value! Bcg, your base salary almost doubles breadth of our work Senior Consultant at Monroe.
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