Our ethos: People 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. 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. Additionally, workers have the opportunity to expand their professional network and undergo continuous on-the-job training to upskill and meet evolving client requirements. The lowest salary for a Consultant in London Area is 28,284 per year. BCG Consultant Salary. Overall, consulting salaries are highly competitive compared to other industries. Our unmatched combination of expert-led, practitioner-sourced, and data-driven research steers clients toward the right decisions on the issues that matter most. Candesic was founded in 2002 by Dr. Leonid Shapiro and Marc Kitten. Deloitte Consulting in the UK pays its consultants 91,000. Boston Consulting Group (BCG) is a global management consulting firm and the worlds leading advisor on business strategy. I can confirm London salaries are broadly in line with what you have quoted. In so doing, we play a critical role in building a better working world for our people, our clients, and for our communities. We interrogate a problem until we find its root. The lowest salary for a Consultant in London, England is 28,284 per year. 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 Project Leaders have a maximum annual salary of $266,000; Principals and Partners may earn up to $1,150,000. We also use cookies and third-party tools to improve your surfing experience on preplounge.com. 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. Our mission is clear. We provide evidence-based advice to assist our clients to grow their businesses, manage risk and make better investment decisions. This has had the occasional effect of forcing layoffs. Using a top-down communication style across emails, meetings, and decks In this article, well take you through the compensation you can expect from a variety of different positions at BCG. You can always change your preference in the, 2. We bring the big ideas, then we make them real. 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. This could be nuisance at times. 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. There is a lot of travelling, and most of my work is done outside of my base city. Parthenon joined Ernst & Young LLP on August 29, 2014. BCG gets extremely positive reviews overall from past employees, with an average score of 4.3 stars out of 5. 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. Our collaborative and efficient approach helps clients reduce costs, and manage risk and regulatory change while increasing revenues. Project leaders/managers are typically paid $200,000-$250,000. Founded more than 30 years ago, L.E.K. Beyond those benefits, positive reviews also focus on the culture of innovation and the stimulating challenges associated with working at BCG. We search out the connections others fail to make, to unlock creativity and deliver better outcomes for the lives we touch every day. 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. Together. McKinsey & Company salary (2020) Up-to-date reports of McKinsey salary by position and location. This is important to note, as you should be applying for the position the firm wants to hire you for. Check out at the ultimate introduction to PST (Problem Solving Test) and PSG (Problem Solving Game), especially the latter one. Occasional travel to clients in EU is also possible but is rare.. and only really available if you actively pursue such projects. The starting salaries of consulting firms vary Keep in mind though that health insurance and other public services are a lot cheaper and at least in Germany (I think it is similar in the UK) you don't need to pay into a retirement fund. Learn more about the salary as a management consultant! Lets pay it forward! Interns with an MBA or a PhD earn a salary of ~$36,500. Bain consultant salary ranges from a maximum of $122,500 for junior Associate Consultants, to a $226,500 for senior Consultants. 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. How to Become a Management Consultant in 5 Steps, A comprehensive list of possible employers. The consultancy is an independent partnership owned exclusively by 230 Partners. Based in London and New York, we work with many household names and global organizations helping them to develop strategies and transform their business. (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. 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. Its clear that if youre in it for the money, working in the U.S. is the place to be for consultant salaries. 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). We go deep to unlock insight and have the courage to act. Interested in company salary figures? Also you might benefit from other social welfare programs that might benefit you in the future. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value). L.E.K. Oliver Wyman is a global leader in management consulting. At MBB firms in the UK (Bain, McKinsey, and BCG), analyst salaries hover around 46,000. 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. 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. You can choose to activate only essential cookies or all cookies. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. First Below, well explore UK consulting salary data for different roles and companies. Clients are surprised at the breadth of our work. One common refrain is the clich that you can have a baby for only $20 in copays. The role is usually called either Consultant or Associate, depending on the firm. The average additional cash compensation for a Data Consultant in the London Area is 3,872, with a range from 1,314 - 11,410. 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. Since 1965, clients have engaged CRA for our unique combination of functional expertise and industry knowledge, and for our objective solutions to complex problems. 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. a GDPR, to your data being processed in the USA. Our people are agile thinkers, cut from different clothes but united by a relentless curiosity and desire to solve problems. Salaries estimates are based on 15573 salaries submitted anonymously to Glassdoor by Consultant employees in the London Area. BCG data scientists earn an average salary of $108,000, with top earners paid over $140,000 a year. 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. Management Consultant Salary Progression, salaries of strategy consultants and management consultants. 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. Eden McCallum is redefining management consulting. Each of these has seen annual revenue growth in excess of 10% for much of that time period. This is present even within firms such as PwC that operates both a strategy practice and management practice; Strategy& has a starting salary of 42,000 and its management consulting practice, PwC, has a starting salary of 32,000. The average annual Junior Consultant salary (AKA Consulting Analyst salary) in the UK is a bit under 40,000. We combine innovative thinking with unrivaled industry knowledge to deliver business consulting, digital, technology, and transformational services. Were an international consulting firm, but weve never seen size as an end in itself. 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. 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. Welcome to 2023, and our updated management consulting salaries report! At Accenture UK, the consulting analyst salary is 33,500. Further, the explosive growth of the technology and finance sectors has led to an economy-wide competition for top talent. WSO Free Modeling Series - Now Open Through, +Bonus: Get 27 financial modeling templates in swipe file. 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 Your data could be accessed by law enforcement without prior public trial in court. Consultants on the pre-2003 contract Clinical excellence awards 2021 (existing LCEAs) 2021 local clinical excellence awards (LCEAs) The single unit for awards granted 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. Top companies for Consultants in United Kingdom. Full-time consulting offers are nice, but bonuses have the potential to take your comp from good to great. They are followed by the other top strategy firmsBain, McKinsey, and OC&C. Most surprisingly, consultant salaries in London are relatively lower given its high cost of living. 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. This role includes a base salary of $268,400 with performance bonuses of $350,000-550,000. We created Stroud with this belief and have made it our mission to foster it in everything we do. The Glassdoor community relies on people like you to share accurate salary info to promote fair compensation everywhere. Case Team Leaders can make 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. But it isn't about dreaming, it's doing. Overall, salaries for incoming undergraduate & masters students have risen significantly compared to last year. There is a clear divide between the starting salaries of strategy consultants and management consultants with a pay gap of around 10,000. Why? 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. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. In London, fresh graduates start on only 32k which is equivalent to 50k. See you on the other side! RHR International LLP is an independent global leadership consulting firm whose mission is to unlock potential in leaders. We use our industry insights, ideas, and pragmatism to help each client improve their business. 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. Weve been talking salaries for strategy consulting roles at MBB, the Big 4, and boutique firms. Well-known boutique firms Oliver Wyman, L.E.K. 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. But still decent pay if you compare against the general street starting pay (medicine, engineering, FTSE 100 companies). 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. 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 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. PwC UK pays Consultants a nice 85,000/year. And no clue for some reason WSO converts the pound sign into PS! You cant out-innovate the market. 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. 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. We are passionate about taking on immense challenges that matter to our clients and, often, to the world. Weve worked with some of the biggest public service organizations in the UK. This increase was on par with the last major increase we saw in 2019. Were a management consulting firm with a proven track record of identifying inefficiencies and cutting through bureaucratic inertia, delivering tangible results and meaningful change. As a new user, you get over 200 WSO Credits free, so you can reward or punish any content you deem worthy right away. You can fill out this anonymous form, add acomment below, orsend us an email. Economics is (nearly) everywhere and the economists toolkit is large. Research Executive. This field is for validation purposes and should be left unchanged. Many employees are particularly enthusiastic about BCGs health coverage, which is said to be the best available. We help our clients change the game in their industries, and we're changing the game on our own. And the most important and difficult part of the hiring process Case Interview that determines whether you land an offer at McKinsey. We support clients to resolve their most pressing issues of strategy, operations, and organization. Your data could be accessed by law enforcement without prior public trial in court. Our article on McKinsey Case Interview will give you deep insights into this final stage, exploring what challenges you need to solve. However, this growth is not without potential peril. 67 Many consulting firms offer masters students the same positions as undergraduate students. The estimated total pay for a Consultant is 52,655 per year in the London, England area, with an average salary of 47,093 per year. All of the data and our expanded insights are included in the full downloadable report get a copy for free below. WTF?! He said that since they couldn't compete with banker pay, they compete on quality of life. Current comp is 32800. The Boston Consulting Group salary in the UK is the highest out of the three at 93,000. The pay for employees with MBAs and PhDs at the top three tech firms climbed to a base salary of ~$190,000 in 2023. The average salary for Consultant is 47,093 per year in the London Area. This is the only originally sourced data available in the industry. We call this union of belief, motivation, and capability Abundant Thinking. Do you have any consulting salary data or comments that you would like to share? 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. Because of that, the net income after a few years in consulting can exceed those in other industries, despite an initially lower base pay. 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. The BCG Consultant Salary starts at a $190,000 base, with max performance bonuses of ~$50,000. Whats the Difference Between Strategy and Management Consulting? 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. Utilization has decreased at some firms from the all-time highs we saw in 2021 and early 2022. This led to record revenue for many consulting firms and a continued wave of M&A activity, leading to double-digit industry growth. 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. Before deciding on a final offer, consider how your salary will grow across time. Well in NYC, IB starts on the same base salary as consulting. Each listed company includes a short profile with useful information at one glance, such as glassdoor ratings and average salaries. This website uses cookies to enable essential functions like the user login and sessions. At MBB firms in the UK (Bain, McKinsey, and BCG), analyst salaries hover around 46,000. Maybe an odd weekend too during busy season. But the bottom line is that consulting salaries in the UK lag U.S. salaries in a significant way. 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. It gets auto-converted when I use the sterling denomination. At the post-MBA level folks with an MBA, PhD, or ~7+ years work experience that jumps up quite a bit to ~85,000. Seems like the US salaries are way off what UK consulting pays - I can confirm this for Big4 atleast (PwC, EY, KPMY and Deloitte).
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