consulting salaries london

The UK Consultant salary at MBB firms ranges from 90,000-93,000. a GDPR, to your data being processed in the USA. It sounds like you have your mind made up, but I'll add a few additional points. 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. The M&A activity revealed two basic patterns. Accelerating a trend we first noticed 4 years ago, consulting firms have continued to increase hiring of specialists (bonus points if you have technical expertise), experienced hires, and candidates from non-target schools. Top companies for Consultants in United Kingdom. are we using "PS" to mean pounds sterling? Some things that might account for this difference include a more comprehensive array of public services, such as healthcare, available in the UK. McKinsey and Bain both pay 90,000. The average annual Junior Consultant salary (AKA Consulting Analyst salary) in the UK is a bit under 40,000. There has been a wide proliferation of boutique consulting companies in recent years, but this has not hindered the growth of the top three firms: McKinsey, BCG, and Bain. Strategy&'s professionals around the globe have helped many of the worlds leading institutions solve some of their toughest problems, and capture their greatest opportunities. dunnhumby employs over 2,000 experts in offices throughout Europe, Asia, Africa, and the Americas working for transformative, iconic brands such as Tesco, Coca-Cola, Meijer, Procter & Gamble, Raley's, L'Oreal, and Monoprix. Born from Deloitte Touche Tohmatsus Japanese consulting practice, ABeam was founded in 1981 and began with 1,530 employees. 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. As always, your anonymity is guaranteed. Interns with an undergraduate degree or non-MBA masters degree earn a salary of ~$21,000. Contribute to our Q&A forum and ask the community your question! The escalation to the project leader/manager role is typically the first promotion BCG employees earn after their first two to three years with the company (post MBA). 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). Accenture Strategy Consultants in the UK have a salary that clocks in a bit lower at 83,000. Second, you can increase your take-home income by choosing an office location where the cost of living is lower(e.g. Learn more about the salary as a management consultant! We only work in public services and were passionate about making experiences and outcomes better for public service users your customers and patients. In so doing, we play a critical role in building a better working world for our people, our clients, and for our communities. 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. Everyone else uses ours or uses outdated or arbitrarily averaged Glassdoor salary data, PayScale salary information, or Indeed salaries. However, other BCG US locations, such as New York City and San Francisco, are significantly more expensive to live in than even London. Sure, youll learn a lot at BCG and have a prestigious name attached to your resume. Overall, consulting salaries are competitive within their country, often offering salaries 20%+ above the average for other professional service firms. Project Leaders have a maximum annual salary of $266,000; Principals and Partners may earn up to $1,150,000. 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. Lets get started. We believe the dramatic increase in pre-MBA salaries is a forerunner to this playing out in the industry over the next 10-15 years. 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). At the same time, while the rate of growth for boutique firms increased YoY, the proliferation of in-house strategy groups at large corporations continues to limit the growth of a fragmented market of boutique players. Overall, the consulting market has been undergoing a number of changes. However, more large companies are setting up their own in-house consulting and analytics operations. Overall, the state of the industry is strong. Are you interested in becoming a management consultant? Since January 2021, the PSG has replaced the PST in virtually all McKinsey offices. Vallis Consulting South East, South-East District, Botswana4 weeks agoBe among the first 25 applicantsSee who Vallis Consulting has hired for this roleNo longer accepting applications. The firm is headquartered in London, United Kingdom with additional offices in France, Spain, Italy, and India. I would choose McDonalds over the sell-side. - David Tepper. The consultancy is an independent partnership owned exclusively by 230 Partners. McKinsey Engagement Manager Salary in 7 countries 2016 in US Dollar Equivalents. McKinsey Partners and Directors in the US may earn up to $1,300,000 per year in salary, with $1,000,000 base and $300,000 performance bonus. Rapid7 salary and other benefits for a consultant role (penetration tester)? The highest salary for a Consultant in London Area is 78,412 per year. Germany leads the way paying salaries 23% higher than anywhere else and almost double the lowest paying country, the UK. Founded in 1990, The Berkeley Partnership is an independent management consultancy. Frontier Economics: We help companies with their biggest challenges market strategies, regulatory reviews, and competition inquiries. If you need more information please view the individual settings. employs more than 1,400 professionals across the Americas, Asia-Pacific, and Europe. 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. 3.7. It gets auto-converted when I use the sterling denomination. 2.8. This led to record revenue for many consulting firms and a continued wave of M&A activity, leading to double-digit industry growth. We are committed consultants with adaptive intelligence. These degrees are roughly equivalent when it comes to consultant salary, as the technology sector drives competition for top talent. We work with leading organizations across the private, public and social sectors. Our main practices are healthcare and social care, aerospace, defense & security. You can always change your preference in the. Protiviti and our independently owned Member Firms provide consulting solutions in finance, technology, operations, data, analytics, governance, risk, and internal audit to our clients through our network of more than 75 offices in over 20 countries. 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. Clients are surprised at the breadth of our work. 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. Do you have any consulting salary data or comments that you would like to share? We have supported over 300 clients across 5 continents, including a third of the FTSE 100, 40% of the AEX, a third of the world's largest private equity firms, and 50 of the global Fortune 500. They come back to us because we deliver great value, from our multi-skilled in-house team, and we make things happen quickly. to CO..anyone done it ? BCG salary details differ between countries. Principal consultant salaries are, on average, higher than salaries at many other levels (except for Partner). 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. Using a top-down communication style across emails, meetings, and decks Additionally, workers have the opportunity to expand their professional network and undergo continuous on-the-job training to upskill and meet evolving client requirements. Sorry, you need to login or sign up in order to vote. Notice how the more senior you become at BCG, the variable proportion of your compensation makes up most of your take home pay. We help our clients realize their goals by applying our deep industry and functional expertise to understand and address their specific needs. Full-time. This dynamic isnt as strong in the UK and other markets. Next, lets take a look at a breakdown of BCG salaries by role. Our practice is built on evidence-based, practical strategies for profit improvement via the top line. At BCG, Consultant is the title for new hires who hold an advanced degree (MBA, PhD, JD, MD, etc.). At Cornerstone Research, we attribute our success to a unique combination of resources: a creative and energetic staff, cutting-edge technology and research, and our work with academic and industry experts. 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. 85% of our work is for clients choosing to work with us again. King's College Hospital NHS Foundation Trust. Together, we crack some of the largest and most complex challenges in the public and private sectors, by pinpointing and implementing the changes that will create the greatest impact. 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. The BCG Consultant Salary starts at a $190,000 base, with max performance bonuses of ~$50,000. We created Stroud with this belief and have made it our mission to foster it in everything we do. Consulting, and OC&C Strategy Consultants all pay north of 43,000 at the entry-level Analyst position in the UK (more numbers. 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. In NYC, fresh graduates in big 4 consulting start on 70+k and MBA SC hires start on 135k. 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. 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. Get into McKinsey. Graduate Management Consultant. Anyway 'Madscientist' Good luck in your job search! 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. PwC helps organizations and individuals create the value they're looking for. Simon-Kucher & Partners is regarded as the world's leading pricing advisor and thought leader. Cartesian provides strategic advice, project delivery, and technology solutions for the communications sector. Often, our interview prep clients will receive slightly higher job offers in tech than in consulting. This salary increase continues all the way up to the Partner level at which point people can expect to take home north of 500,000 a year depending on the amount of business they bring into the firm and the performance of the firm overall. 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. We believe that when our clients and society are stronger, so are we. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. We work hand in hand with our clients, delivering at the coalface. 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. 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). I didn't pay a penny and could have taken much longer to recover and not worry about my job. Undergraduate & Masters Consultant Salary, Learn more about training for your team or organization. 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 specialize in bespoke consulting services, not off-the-shelf me too process consulting. Like McKinsey and Bain, you can expect a BCG salary to increase by 10-20% every year. Bain Consultant Salary & Bonuses Bain consultant salary prospects are especially strong for incoming MBA hires who earn base salaries of $175,000. Finally, some employees lamented an inability to align available promotions and career development opportunities with their personal interests. Founded more than 30 years ago, L.E.K. Since 1965, clients have engaged CRA for our unique combination of functional expertise and industry knowledge, and for our objective solutions to complex problems. Medicspro. 30,000 - 40,000 a year. 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. Deloitte drives progress. Lol yes the graduate salary is really pretty crap for London standard of living. Luckily for you, the consulting industry has never been stronger. 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 At MBB firms in the UK (Bain, McKinsey, and BCG), analyst salaries hover around 46,000. Elixirr is a different type of consultancy. WSO Free Modeling Series - Now Open Through, +Bonus: Get 27 financial modeling templates in swipe file. 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. The role of associate principal and senior project leader is typically the second promotion for BCG employees post-MBA, occurring after four to five years. This is important to note, as you should be applying for the position the firm wants to hire you for. For the big 4 MC in London, whats the travel like? The average FTI Consulting salary ranges from approximately $50,576 per year for an Administrative Assistant to $431,359 per year for a Managing Director. Beyond the cultural differences between the U.S. and the UK, an important contrast is salary. 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. It is now estimated to be worth more than11 billion (Source: Consultancy.uk) - despite Brexit and the political uncertainty. Take me straight to the first consultancy. These numbers represent the 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. We believe in the power of ingenuity to build a positive human future in a technology-driven world. 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. Maybe an odd weekend too during busy season. 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. So far, margins have been protected by a decrease in operational costs (i.e., smaller office space, less travel). Second year BCG project leaders earn $232,200 in base salary. 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. Join the worlds leading case interview community today and get everything you need to prepare for your upcoming case interviews! BCGs summer internship program runs for 10 weeks. 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. 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. Candesic was founded in 2002 by Dr. Leonid Shapiro and Marc Kitten. A.T. Kearney is a partner-owned firm, committed to helping clients achieve immediate impact and growing advantage on their most mission-critical issues. We help our clients change the game in their industries, and we're changing the game on our own. With 2,400 employees working from 34 countries, we have successful operations in all major international markets. Manager (S Consultant) bracket is between 55k -70k max. Click here to see the total pay, recent salaries shared and more! Yes you get 25 working day annual leave as a fresh graduate which rises to 30 at managerial level. The Chartis Group is a comprehensive advisory and analytics services firm dedicated to the healthcare industry. Salaries estimates are based on 15573 salaries submitted anonymously to Glassdoor by a Consultant employees in London, England. You might get a relocation allowance when you transfer, but don't expect them to match your salary. We bring the big ideas, then we make them real. I'm probably (definitely) not going to stay in the UK long enough to collect a pension, so the insurance is essentially additional tax. The highest salary for a Consultant in London, England is 78,412 per year. We combine innovative thinking with unrivaled industry knowledge to deliver business consulting, digital, technology, and transformational services. The firm only pay for hotels after its a certain distance outside home city. What is the salary trajectory for a Consultant? Though I do get most of my weekends to myself. They often offer higher base salaries but the roles are more siloed and the promotion trajectory is slower. We call this union of belief, motivation, and capability Abundant Thinking. The first level of junior partner/principal is usually a BCG employees third promotion and occurs after six to eight years with the company. L.E.K. FGL Associates. We are comprised of uniquely experienced senior healthcare professionals and consultants who apply a distinctive knowledge of healthcare economics, markets, clinical models, and technology to help each client address their most pressing issues. When comparing consulting roles to those in industry at the same level, there are few better options when it comes to total comp. But you will also make a lot of money. Current comp is 32800. Future margins are at risk as firms continue to raise salaries without a commensurate rise in project rates. We add value and support our clients across the full spectrum of consulting, from strategy through delivery. 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. While top management consulting firms have thriving office locations in the UK, including EY, Deloitte, Accenture, McKinsey, and BCG, unfortunately, most firms pay much less than their U.S. counterparts. Below, well explore UK consulting salary data for different roles and companies. Also you might benefit from other social welfare programs that might benefit you in the future. 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. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. Entry-level consultants at BCG can earn up to $112,500 per year, while senior consultants can make up to $215,500. 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. 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. This role includes a base salary of $268,400 with performance bonuses of $350,000-550,000. In NYC, fresh graduates in big 4 Newton: Our approach is different deliberately. In addition to that salary, the BCG consultant salary for MBAs and PhDs includes performance bonuses of up to ~$50,000, retirement contributions of up to $20,312 into 401(k) accounts, a signing bonus of $35,000, and up to $8,000 in relocation help. Utilization has decreased at some firms from the all-time highs we saw in 2021 and early 2022. EY-Parthenon is a strategy consultancy,committed to bringing unconventional yet pragmatic thinking together with our clients smarts to deliver actionable strategies for real impact in todays complex business landscape. 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. Et dolores harum est sed sed debitis consequatur. Cairneagle is a boutique strategy consultancy focused on education, media, and technology that has built a strong reputation for delivering rigorous, data-driven analysis and excellent value for money since our establishment in 2001. Based in London and New York, we work with many household names and global organizations helping them to develop strategies and transform their business. 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. Data processing in the USA: By clicking on "I accept", you also consent, in accordance with article 49 paragraph 1 sentence 1 lit. Each of these has seen annual revenue growth in excess of 10% for much of that time period. Many of BCGs US locations boast a significantly cheaper cost of living than London. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc, Construction, Repair & Maintenance Services. Total Pay 102,146/yr Base Pay 20,000/yr Additional Pay Based on 193 SalariesFull Pay Details Accenture is a leading global professional services company, providing a broad range of services and solutions in strategy, consulting, digital, technology, and operations. I suffered a pretty serious injury outside of work last year that saw me in the hospital for 5 days and off work for 2 months. Additional pay could include cash bonus, commission, tips, and profit sharing. However, when a masters student applies for a relevant technical position (e.g. Welcome to 2023, and our updated management consulting salaries report! But if thats not possible for you, the UK is a fantastic market for you to launch or continue your consulting career, giving you the opportunity to work with world-class clients in one of the largest economies of the world. But it isn't about dreaming, it's doing. So whether youre looking for a Bain consultant salary, Deloitte consultant salary, or information about niche boutique consulting firms, youve come to the home of the most up-to-date management consulting starting salary numbers available. You can fill out this anonymous formor send us an email. Technology firms also compete with consulting firms for talent. But the bottom line is that consulting salaries in the UK lag U.S. salaries in a significant way. Our servers are powered by electricity from renewable sources. 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. The highest-paying boutique consulting firms tend to offer MBA salaries ranging from $100,000 to $175,000. Founded in 1978, the firm is widely regarded as a trusted advisor to its clients, providing a full range of strategy consulting services, expertise, and market insight. Baringa Partners is an independent business and technology consultancy. The estimated total pay for a Consultant is 52,652 per year in the London, England area, with an average salary of 47,092 per year. Protiviti is a global consulting firm that delivers deep expertise, objective insights, a tailored approach, and unparalleled collaboration to help leaders confidently face the future. Research Executive. At this level, the average global Bain consultant salary is $165,000 a year, with a range of $147,000-204,000. Consultants are typically promoted (or asked to seek employment elsewhere) every 2-3 years. is_redirect && ! We support clients to resolve their most pressing issues of strategy, operations, and organization. Management Consultant Salary United States. Deloitte Consulting in the UK pays its consultants 91,000. It has more than 250 employees, and offices in 7 cities: Milan (headquarters), Turin, London, Rio de Janeiro, Buenos Aires, Shanghai, and Hong Kong. Most grads would share apartments 2/3 bed and live in less pricey areas. 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. Bain & Company is one of the world's leading business consulting firms. Currently at a T2 generalist firm and thinking of switching, but would be good to get a sense of comp progression (Glassdoor data seems incomplete). PwC Strategy& UK (the firms strategy consulting arm) pays much better than the average Junior Consultant salary in the UK at 52,000. Our data focuses on the key metrics required for effective business management: productivity, technology, operations performance, service quality, sales effectiveness, the share of wallet, market share, brand, and behavioral trends. 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. McKinsey Engagement Managers in the US may earn up to $250,000 per year in salary, with $175,000 base and $77,000 performance bonus. 18 lists of top consulting firms, on 18 different criteria, all updated for 2020 - size, prestige, salary, work/life balance, and even more. Work Email* Looking to land a position in management consulting? 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. 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. We are outcomes-focused, wanting to create lasting legacies through what we deliver and the way that we work. Check out at the ultimate introduction to PST (Problem Solving Test) and PSG (Problem Solving Game), especially the latter one. After ten or more years with the company, an employee may rise to the senior partner/director position. 2022 saw firms grapple with the tightest global labor market in decades as demand for management consulting services remained strong. Btw what is standard annual leave in the US? Deloitte invests in outstanding people of diverse talents and backgrounds and empowers them to achieve more than they could elsewhere. Entry-level Consulting Salaries for Freshers The most extravagant of these include MBA second-year tuition coverage plus signing bonuses (heres looking at you, Deloitte). 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. Consultants here specialize in AI and machine learning. We're a network of firms in 157 countries with more than 223,000 people. Thats significantly lower than the average US BCG consultant salary of $165,000. We help businesses run more effectively, navigate industry shifts and reach new markets. BCG Gamma is a division of BCG focusing on data science and advanced analytics. This has had the occasional effect of forcing layoffs. 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). We combine the in-depth expertise of a global advisor with the focus, attention, and flexibility of a boutique consulting firm. Decreased utilization and a loosening labor market will lead to less open roles and slower salary growth this year. CVA is a boutique strategy consulting firm with a global reach, operating out of 18 offices in Europe, the US, and the Asia-Pacific region. We are shaping the future. Our servers are powered by electricity from renewable sources. We work with top executives to help them make better decisions, convert those decisions to actions, and deliver the sustainable success they desire. Greenwich Associates is the leading global provider of data, analytics, and insights to the financial services industry. As always, your anonymity is guaranteed. We interrogate a problem until we find its root. And no clue for some reason WSO converts the pound sign into PS! For entry-level roles that means folks coming right out of undergraduate/MS programs the average base salary for consultants in the UK is around ~40,000. In addition, American work culture generally runs at a faster pace than UK work environments (burn the candle at both ends, anyone? I have a few friends working at Big4 and MBB consulting, and the hours are better than banking but still pretty serious. BCG offers between $2k and $8k, while McKinsey upped its allowance slightly to a from associate to senior associate) will typically be a minimum of 2 years performance-dependent. He said that since they couldn't compete with banker pay, they compete on quality of life. In short, there has never been a more lucrative time to become a consultant. 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. Whilst salaries will increase every year, promotions to the next grade (e.g. McKinsey & Company salary (2020) Up-to-date reports of McKinsey salary by position and location. Why? We have 207,000 outstanding professionals working together to deliver value in 153 countries and territories. Many consulting firms offer masters students the same positions as undergraduate students. Learn more about training for your team or organization Wow NYC salaries are significantly higher, if what you are quoting for US is correct. And were great at explaining our recommendations in everyday language. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value). Recently, I was thinking of gaining some international exposure by moving to London. McKinsey & Company is a global management consulting firm. Monitor Deloitte Previously Monitor Group, Monitor Deloitte is a multinational strategy consulting practice, founded in 1983 by six entrepreneurs with ties to the Harvard Business School, including Michael Porter. Select all that apply.CommentsThis field is for validation purposes and should be left unchanged. At McKinsey,the salary for 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. Is consulting less mainstream in London? FTI Consulting professionals, located in all major business centers throughout the world, work closely with clients to anticipate, illuminate and overcome complex business challenges and opportunities. 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. 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. Regardless, salary growth is substantial for each promotion you receive at a consulting firm. Some said the work could be stressful, though most negative reviews noted the stress tends to come from problematic clients, as opposed to problems internal to BCG. Were an international consulting firm, but weve never seen size as an end in itself. Salaries estimates are based on 15573 salaries submitted anonymously to Glassdoor by a Consultant employees in London Area. Value Partners is a Management Consulting and Digital firm, founded in Milan in 1993. 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. We search out the connections others fail to make, to unlock creativity and deliver better outcomes for the lives we touch every day. Don't forget tax rates are higher in the UK too. BCG Digital Ventures is a division of BCG focused on startup incubation and corporate investment. a GDPR, to your data being processed in the USA. The average salary for Consultant is 47,093 per year in the London Area. Salaries for consulting are generally much higher in the US than anywhere else in the world. This is especially true for employees with MBAs and PhDs. 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. At Accenture UK, the consulting analyst salary is 33,500. Do you have questions on this blog article? Well-known boutique firms Oliver Wyman, L.E.K. Management Consultant Salary UK 2023. or Want to Sign up with your social account? The EY consultant salary UK at the junior consultant level is 35,400. Get to know the top consulting firms to work for! Other top boutiques will generally pay between 80,000-90,000. We are passionate about taking on immense challenges that matter to our clients and, often, to the world. Top Consulting Firms Consulting Firms to Work For. Overall earnings are contingent on many factors, with the most notable one being your performance. Engagement Managers typically earn around $250,000, while Partners and Directors can earn up to $1,300,000.Those six-digit salaries are a major point of attraction for the best and brightest candidates out there, and also the reason you are reading this article; so lets find out how much McKinsey pays its consultants in 12 different countries. If you are thinking of becoming a Consultant or planning the next step in your career, find details about the role, the career path and salary trajectory of a Consultant. The offer I was quoted is too far off. Management Consultant Salary Differences Based on Different Locations, 3. The average salary for a Consultant is 47,093 per year in London Area. 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. 67 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. We provide evidence-based advice to assist our clients to grow their businesses, manage risk and make better investment decisions. As strategies, technologies, and innovation collide, we turn complexity into opportunity. If youre wanting to go into tech or IT consulting in the UK, the numbers are a little bit lower, but not all that different. The reported global range for the Bain consultant salary at this level was $40,000 up to $110,000. What is the average consultant salary in the UK? We are the trusted advisor to the world's leading businesses, governments, and institutions. Since 1926, we have been trusted advisors to the world's foremost organizations. In the following article, you will find a comprehensive list of London consulting firms to pick your personal target firms from A to Z. Weve been talking salaries for strategy consulting roles at MBB, the Big 4, and boutique firms. To us, each client challenge is unique, so boilerplate solutions dont cut it. My team needs training on:* This is the only originally sourced data available in the industry. Compared to the rest of the world, the United Arab Emirates, Singapore, Switzerland, and Canada also boast relatively high consultant salaries. We know that the world changes constantly, so we offer real, tailored solutions for complex business environments. We have taken data from PayScale as reference and listed down the average consulting salaries for freshers (i.e. In this article, well take a deeper look at that and compensation expectations in consulting by position. You can choose to activate only essential cookies or all cookies. 40% above about 45K, and 45% above 150K. In London, fresh graduates start on only 32k which is equivalent to 50k. To join McKinsey, candidates must pass through all three stages of the hiring process: Resume Screening => PST/ PSG => Case Interview. The Glassdoor community relies on people like you to share accurate salary info to promote fair compensation everywhere. 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. Our consultants use innovative problem-solving approaches and achieve unparalleled analytic depth. Career switch from Civil Eng. Converting all salaries to US dollars it is easy to see exactly where junior consultants earn the most money (and are perhaps the most valued by the industry). 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. 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. Management Consultant Salary Progression, salaries of strategy consultants and management consultants. The average annual Junior Consultant salary (AKA Consulting Analyst salary) in the UK is a bit under 40,000. Where the UK differentiates itself in part is in benefits and culture. If you need more information please view the individual settings. The base rate for UK employees always tends to lag behind the BCG salary for US employees. Quae praesentium blanditiis nihil totam illo sed fugiat. Join the worlds leading case interview community today and get everything you need to prepare for your upcoming case interviews! All salary figures are in U.S. dollars unless otherwise stated. How much does a Consultant in London Area make? 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. 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. Because of the up-or-out structure and the attractive exit opportunities, only a small percentage of consulting recruits make it all the way to Senior Partner. 2005-2022 Wall Street Oasis. 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. Overall, consulting salaries are highly competitive compared to other industries. We have offices in London, Amsterdam, and Zurich. Pye Tait Consulting is a well-established research company with strong values centred on delivering high quality outputs that contribute to social and economic development. The pay for employees with MBAs and PhDs at the top three tech firms climbed to a base salary of ~$190,000 in 2023. Ours is a world of opportunity. Kearney offers MBA grads $168,000 in base salary. I have a few friends working at Big4 and MBB consulting, and the hours are better than banking but still pretty serious. Big4: I would say standard 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. We use our industry insights, ideas, and pragmatism to help each client improve their business. BTW I'm an American who's been living and working (not in consulting but looking to get into it) in London for nearly 5 years, and not looking to move back anytime soon. McKinsey Analysts in the US may earn up to $100,000 per year in salary, with $88,000 base and $15,000 performance bonus. Many consulting firms have an up-or-out promotion structure and many consultants choose to leave. The starting salaries of consulting firms vary 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. 2021 and 2022 saw an unprecedented wave of exits from the industry these exits should stabilize as utilization comes back to historical norms. BCG salary at this stage includes a base rate of $252,900, with performance bonuses from $120,000-220,000. 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. This base BCG project leader salary is $225,400 with a sharp rise in potential bonuses, which range from $90,000-130,000. Guidehouse (formerly Navigant Consulting), Charles River Associates International (CRAI), IBM Global Business Services/IBM Consulting, Switching from Consulting to Private Equity, 3 Skills Necessary to Make it to Partner at a Consulting Firm, 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, On your offer letter, the listed maximum amount of. MBA Salaries: How Much Do Consultants With An MBA Make? Find more details in our comprehensive consulting salaries report. We question everything and apply thoughtful and rigorous analysis to each challenge, issue, and opportunity. Project leaders/managers are typically paid $200,000-$250,000. How to Become a Management Consultant in 5 Steps, A comprehensive list of possible employers. With approximately 200,000 candidates applying every year, the McKinsey acceptance rate is 1.1%. Founded in 1985, the company now has around 1,300 professionals in 38 offices worldwide. Roland Berger, founded in 1967, is the only leading global consultancy of German heritage and European origin. Salary 22k-30k dependent on experience. Lets pay it forward! The big BCG salary bump comes when you hit Project Leader. This can partly be attributed to the higher access to professional services talent the UK has and therefore they are able to recruit top-performing graduates at lower wages. Our clients adapt and transform, and together we achieve enduring results. 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 && ! Second year Consultants earn an average base salary of $195,000. One notable exception is finance, where salaries are higher but work-life balance is often worse. Beyond those benefits, positive reviews also focus on the culture of innovation and the stimulating challenges associated with working at BCG. 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. Likewise, PhDs often (though not always) receive the same compensation as MBAs. 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. 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). Modus Enterprise Consulting London +1 location 1,500 - 2,000 a month Part-time + 1 Monday to Friday Management consulting administrator will be responsible for providing administrative 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. 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. For example, a Big 4 consultant working in New York often receives a slightly higher salary than a Big 4 consultant in Dallas. Its a big year for the consulting industry as well. Not just the costs of supply, movements in demand, pricing, and competitive dynamics. 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. At MBB firms in the UK (Bain, McKinsey, and BCG), analyst salaries hover around 46,000. Occasional travel to clients in EU is also possible but is rare.. and only really available if you actively pursue such projects. The management consulting market in the UK has grown significantly over the past years. Gartner, Inc. (NYSE: IT), is the worlds leading research and advisory company and a member of the S&P 500. Economics is (nearly) everywhere and the economists toolkit is large. At the post-MBA level folks with an MBA, PhD, or ~7+ years work experience that jumps up quite a bit to ~85,000. This amount of time has some variability, but most BCG employees fill a role for two to three years before being promoted or moving on. 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. But the do hire some MBAs in manager roles salary 55k to 65k. 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. BCG consultant salaries, like the salaries of virtually all competitive consulting firms, will handsomely reward you for your work. Established consulting firms drove a lions share of the overall industry growth through organic and inorganic means. The lowest salary for a Consultant in London Area is 28,284 per year. Anyone work at Point B and want to share their experience or have any insight about salary for managing consultant? 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. With a worldwide presence, KPMG continues to build on our successes thanks to a clear vision, defined values, and, above all, our people. Below is a chart depicting average compensation from 122 consulting firms. For nearly forty years, AlixPartners has helped businesses around the world respond quickly and decisively to their most critical challenges circumstances as diverse as urgent performance improvement, accelerated transformation, complex restructuring, and risk mitigation. 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.

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