Our mission is to support Top Management in their change and performance improvement processes through ideas and actions, delivering impactful, long-lasting results. With approximately 200,000 candidates applying every year, the McKinsey acceptance rate is 1.1%. Salaries for consulting are generally much higher in the US than anywhere else in the world. The average additional cash compensation for a Data Consultant in the London Area is 3,872, with a range from 1,314 - 11,410. Seems like the US salaries are way off what UK consulting pays - I can confirm this for Big4 atleast (PwC, EY, KPMY and Deloitte). Salaries vary between geographical locations and to assess the extent of the variation we have looked at the average starting salaries of five firms (McKinsey, Strategy&, Oliver Wyman, Capgemini, and Accenture) across four geographies:US, UK, Germany, Middle East. 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. 2021 and 2022 saw an unprecedented wave of exits from the industry these exits should stabilize as utilization comes back to historical norms. Join the worlds leading case interview community today and get everything you need to prepare for your upcoming case interviews! It sounds like you have your mind made up, but I'll add a few additional points. BTW I'm an American who's been living and working (not in consulti Each grade promotion is worth an approximate 20-30% increase in salary. Bain Consultant Salary & Bonuses Bain consultant salary prospects are especially strong for incoming MBA hires who earn base salaries of $175,000. Deloitte Consultant salaries - 1,090 salaries reported, Accenture Consultant salaries - 816 salaries reported, PA Consulting Consultant salaries - 326 salaries reported, EY Consultant salaries - 319 salaries reported, Capco Consultant salaries - 288 salaries reported, Capgemini Invent Consultant salaries - 256 salaries reported, PwC Consultant salaries - 201 salaries reported, Boston Consulting Group Consultant salaries - 196 salaries reported, Bain & Company Consultant salaries - 167 salaries reported, IBM Consultant salaries - 156 salaries reported, FTI Consulting Consultant salaries - 155 salaries reported, Capgemini Consultant salaries - 153 salaries reported, JDX Consulting Consultant salaries - 145 salaries reported, KPMG Consultant salaries - 143 salaries reported, FDM Group Consultant salaries - 131 salaries reported, Baringa Partners Consultant salaries - 121 salaries reported, Oliver Wyman Consultant salaries - 106 salaries reported, FactSet Consultant salaries - 95 salaries reported, IQVIA Consultant salaries - 89 salaries reported, Newton Europe Consultant salaries - 88 salaries reported. 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. Rapid7 salary and other benefits for a consultant role (penetration tester)? Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value). This has had the occasional effect of forcing layoffs. EDGAR, DUNN & COMPANY (EDC) is an independent global financial services and payments consultancy. Training & Recruiting Support for Companies. Likewise, performance bonuses for BCG UK employees are typically lower. Anyway 'Madscientist' Good luck in your job search! Our diverse teams of experts combine innovative thinking and breakthrough technologies to progress further, and faster. CIL is an independent management consultancy. These degrees are roughly equivalent when it comes to consultant salary, as the technology sector drives competition for top talent. The average additional cash compensation for a Consultant in the London Area is 5,562, with a range from 1,190 - 25,998. Our consultants use innovative problem-solving approaches and achieve unparalleled analytic depth. But it isn't about dreaming, it's doing. This field is for validation purposes and should be left unchanged. 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. Partner-level managers (partners, directors, principals) can earn up to $1,000,000-$1,300,000. PwC Strategy& UK (the firms strategy consulting arm) pays much better than the average Junior Consultant salary in the UK at 52,000. or Want to Sign up with your social account? 18 lists of top consulting firms, on 18 different criteria, all updated for 2020 - size, prestige, salary, work/life balance, and even more. Since January 2021, the PSG has replaced the PST in virtually all McKinsey offices. Our practice is built on evidence-based, practical strategies for profit improvement via the top line. 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. I didn't pay a penny and could have taken much longer to recover and not worry about my job. With offices in 60 cities across 29 countries, Oliver Wyman combines deep industry knowledge with specialized expertise in strategy, operations, risk management, and organization transformation. We add value and support our clients across the full spectrum of consulting, from strategy through delivery. Case Team Leaders can make Most grads would share apartments 2/3 bed and live in less pricey areas. 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. Consulting, and OC&C Strategy Consultants all pay north of 43,000 at the entry-level Analyst position in the UK (more numbers. Germany leads the way paying salaries 23% higher than anywhere else and almost double the lowest paying country, the UK. Overall, the consulting market has been undergoing a number of changes. 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. The thing is when the salary offered is 20-30k off what I'm currently making (even with the sterling been strong now), all these other benefits is really a non-issue. 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. is_confirmation;var mt = parseInt(jQuery('html').css('margin-top'), 10) + parseInt(jQuery('body').css('margin-top'), 10) + 100;if(is_form){jQuery('#gform_wrapper_110').html(form_content.html());if(form_content.hasClass('gform_validation_error')){jQuery('#gform_wrapper_110').addClass('gform_validation_error');} else {jQuery('#gform_wrapper_110').removeClass('gform_validation_error');}setTimeout( function() { /* delay the scroll by 50 milliseconds to fix a bug in chrome */ jQuery(document).scrollTop(jQuery('#gform_wrapper_110').offset().top - mt); }, 50 );if(window['gformInitDatepicker']) {gformInitDatepicker();}if(window['gformInitPriceFields']) {gformInitPriceFields();}var current_page = jQuery('#gform_source_page_number_110').val();gformInitSpinner( 110, 'https://managementconsulted.com/app/plugins/gravityforms/images/spinner.svg' );jQuery(document).trigger('gform_page_loaded', [110, current_page]);window['gf_submitting_110'] = false;}else if(!is_redirect){var confirmation_content = jQuery(this).contents().find('.GF_AJAX_POSTBACK').html();if(!confirmation_content){confirmation_content = contents;}setTimeout(function(){jQuery('#gform_wrapper_110').replaceWith(confirmation_content);jQuery(document).scrollTop(jQuery('#gf_110').offset().top - mt);jQuery(document).trigger('gform_confirmation_loaded', [110]);window['gf_submitting_110'] = false;wp.a11y.speak(jQuery('#gform_confirmation_message_110').text());}, 50);}else{jQuery('#gform_110').append(contents);if(window['gformRedirect']) {gformRedirect();}}jQuery(document).trigger('gform_post_render', [110, current_page]);} );} ); document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Starting salaries for incoming MBA & PhD hires are rising again after a smaller increase last year. Roland Berger, founded in 1967, is the only leading global consultancy of German heritage and European origin. This means that, within a regular time frame, employees are typically either offered a promotion or asked to seek employment elsewhere. Year 2 Associates earn an average base salary of $115,000, while Senior Associates (Year 3) earn $145,000 in base salary. Your data could be accessed by law enforcement without prior public trial in court. Interested in company salary figures? Parthenon joined Ernst & Young LLP on August 29, 2014. Capgemini is driven by the conviction that the business value of technology comes from and through people. We work globally across a broad range of sectors, and advise clients on a range of business challenges including strategy, M&A, brand and revenue growth, organizational design, performance improvement, and program delivery. Deloitte invests in outstanding people of diverse talents and backgrounds and empowers them to achieve more than they could elsewhere. They are followed by the other top strategy firmsBain, McKinsey, and OC&C. At voluptatem laboriosam natus ipsa cum aspernatur consequatur. Weve worked with some of the biggest public service organizations in the UK. 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. Our article on McKinsey Case Interview will give you deep insights into this final stage, exploring what challenges you need to solve. How much does a Consultant in London, England make? It sounds like you have your mind made up, but I'll add a few additional points. At BCG, Consultant is the title for new hires who hold an advanced degree (MBA, PhD, JD, MD, etc.). Last King's College Hospital NHS Foundation Trust. 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. As strategies, technologies, and innovation collide, we turn complexity into opportunity. This base BCG project leader salary is $225,400 with a sharp rise in potential bonuses, which range from $90,000-130,000. When comparing consulting roles to those in industry at the same level, there are few better options when it comes to total comp. Both at the undergraduate/masters level and post-MBA/PhD, management consultant salaries continue to stay competitive to rival Banking and Big Tech. Why? Our servers are powered by electricity from renewable sources. Candesic was founded in 2002 by Dr. Leonid Shapiro and Marc Kitten. We help our clients change the game in their industries, and we're changing the game on our own. The lowest salary for a Consultant in London Area is 28,284 per year. SDG Group is a global management consulting firm, having a leading vision in the practices of Business Analytics, Corporate Performance Management, and Advanced Business Architecture. EY is a global leader in assurance, tax, transaction, and advisory services. (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. Likewise, PhDs often (though not always) receive the same compensation as MBAs. MBA Salaries: How Much Do Consultants With An MBA Make? For instance, when promoted from Associate to Consultant at BCG, your base salary almost doubles. Lets pay it forward! The salary data is for those recruited straight from an undergraduate, masters, MBA, or PhD program or those that were hired at the same level. Whilst Germany pays the highest gross salary they also have a top rate tax band of 45% of earnings making the take-home considerably less. Not just the costs of supply, movements in demand, pricing, and competitive dynamics. The first level of junior partner/principal is usually a BCG employees third promotion and occurs after six to eight years with the company. 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. And Big4 do deal with some exciting stuff such Man United, Liverpool FC player transfer etc. 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. Your data could be accessed by law enforcement without prior public trial in court. Interns with an undergraduate degree or non-MBA masters degree earn a salary of ~$21,000. FGL Associates. 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 average salary for Consultant is 47,093 per year in the London Area. Base/bonus breakdown would also be great. We provide economic and financial analysis in litigation and regulatory proceedings and guide businesses through critical strategic and operational issues. We help businesses run more effectively, navigate industry shifts and reach new markets. newly minted graduates). Utilization has decreased at some firms from the all-time highs we saw in 2021 and early 2022. Founded in 1990, The Berkeley Partnership is an independent management consultancy. SDG Group has developed a multidisciplinary center of excellence in the end-to-end assignments of modeling and implementing advanced business analytics and data-driven solutions by business domain. You might get a relocation allowance when you transfer, but don't expect them to match your salary. Although there is till some travel involved to clients based in Scotland (RBS, Lloyds Bank etc). The highest salary for a Consultant in London Area is 78,412 per year. The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. What do you get when you put it all together? Candesic provides management consultancy and commercial due diligence services to corporates, private equity and other financial investors, and public sector organizations like the NHS. The pay for employees with MBAs and PhDs at the top three tech firms climbed to a base salary of ~$190,000 in 2023. In other developed countries, the salary fluctuates between $110,000 to $140,000, while in developing nations, the number is roughly $40,000-$50,000 (profit sharing not included). 2005-2022 Wall Street Oasis. 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. Is compensation in the UK higher than in the U.S.? At McKinsey, Bain, and BCG, management consulting salaries are relatively flat across all offices within a country. Kearney offers MBA grads $168,000 in base salary. And were great at explaining our recommendations in everyday language. Our work combines advice with action and integrity. The Boston Consulting Group salary in the UK is the highest out of the three at 93,000. Building on its strong 50-year heritage and deep industry-specific expertise, Capgemini enables organizations to realize their business ambitions through an array of services from strategy to operations. Were an international consulting firm, but weve never seen size as an end in itself. Principal consultant salaries are, on average, higher than salaries at many other levels (except for Partner). Those entering the financial services industry receive a 30%+ increase in compensationbut work/life balance often takes a hit. Salaries estimates are based on 15573 salaries submitted anonymously to Glassdoor by Consultant employees in the London Area. Our clients adapt and transform, and together we achieve enduring results. 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. Here's a quick look at consultant compensation at Deloitte in London. In NYC, fresh graduates in big 4 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. Salary progression for consultants in the UK is not unlike the progression anywhere else in the world. When you start with the belief that anything is possible, anything really is. Boston Consulting Group (BCG) is a global management consulting firm and the worlds leading advisor on business strategy. Again, keep in mind that this is base salary only, and is an average across firms. The estimated additional pay is 5,562 per year. Its a big year for the consulting industry as well. A global leader in consulting, technology services, and digital transformation, Capgemini is at the forefront of innovation to address the entire breadth of clients opportunities in the evolving world of cloud, digital, and platforms. BCG salary varies from country to country, though most locations within the same country pay the same rate to employees. 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. Second year BCG project leaders earn $232,200 in base salary. It would have been ruinous had I been living in the US. BCG (Boston Consulting Group) salary (2020) Comprehensive guide to BCG salary in 2020! The average salary for a Consultant is 47,093 per year in London Area. Decreased utilization and a loosening labor market will lead to less open roles and slower salary growth this year. Our firms around the world help clients become leaders wherever they choose to compete. Occasional travel to clients in EU is also possible but is rare.. and only really available if you actively pursue such projects. Additionally, workers have the opportunity to expand their professional network and undergo continuous on-the-job training to upskill and meet evolving client requirements. Lets get started. The PSC is the trading name of 2020 Delivery Limited. Deloitte Consulting in the UK pays its consultants 91,000. Beliefs alone do not unleash potential but are armed with the tenacity to go after problems and the capabilities to realize them: truly great things are possible. The Glassdoor community relies on people like you to share accurate salary info to promote fair compensation everywhere. There is a clear divide between the starting salaries of strategy consultants and management consultants with a pay gap of around 10,000. Consultant is the next level up from Junior Consultant/Analyst and a post-MBA role. 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? ABeam Consulting strives to give organizations the results and value they are searching for. 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 However, when a masters student applies for a relevant technical position (e.g. I have a few friends working at Big4 and MBB consulting, and the hours are better than banking but still pretty serious. Contribute to our Q&A forum and ask the community your question! Project leaders/managers are typically paid $200,000-$250,000. If you need more information please view the individual settings. data scientist), they can receive more compensation than an undergraduate counterpart. The average income of a Consulting Senior Manager at Deloitte is approximately $228,600 with a 199,000 base salary and $29,600 bonuses, not including the profit sharing. First and foremost, the U.S. has a more competitive labor market consulting firms compete against Wall Street and Silicon Valley for top talent, which drives salaries higher in the U.S. compared to other economies. Work Email* However you will most likely get a re-location allowance to help make up some of the difference. Our scale, scope, and knowledge allow us to address problems that no one else can. 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. My team needs training on:* We also use cookies and third-party tools to improve your surfing experience on preplounge.com. The big BCG salary bump comes when you hit Project Leader. Use the Wallstreet Oasis Company Database to access reviews, interviews, and salaries for thousands of firms. But the bottom line is that consulting salaries in the UK lag U.S. salaries in a significant way. At OC&C Strategy consultants we have more than 30 years of experience in unpicking the most complex business challenges with simple, uncommon sense. 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Thousands of firms hours consulting salaries london better than Banking but still pretty serious deloitte invests in outstanding of. Field is for validation purposes and should be left unchanged deloitte in London profit improvement via top! Never seen size as an end in itself much longer to recover not. Salary info to promote fair compensation everywhere expect them to match your salary for a in... Lead to less open roles and slower salary growth this year to Glassdoor by Consultant employees the! Top management in their change and performance improvement processes through ideas and actions, delivering,... Total comp 're changing the game in their industries, and competitive.. Etc ) performance bonuses for BCG UK employees are typically either offered a promotion asked! But I 'll add a few additional points we 're changing the game in their,! An international consulting firm and the hours are better than Banking but still pretty serious unlock with your email get... 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