Management Consulting Salaries USA

Money Money Money. Money is why many of us wake up feeling motivated. Money is a key reason why we do the things that we do, spend the time that we spend, live the life how we live. Money makes people’s eyes shine with excitement and the money is why many people choose to go into management consulting with compensation going sky-high.

Consulting salaries typically consist of several components.

Base salary: If you don’t get fired. This part is guaranteed.

Sign on bonus: Only given once when you sign, so better use it wisely.

Year end bonus: Meant for quality performers.

Additional benefits: Retirement, Relocation, etc.

The table below shows consulting salaries for 11 major management consulting firms in the U.S. based on two levels: the fresh out of undergraduate level and the Post MBA slash Ph.D. level.

 

US Management Consulting Salaries

Company Name Undergraduate Level Post Graduate/MBA
Mckinsey

    Base: $83,000

Performance Bonus: up to $18,000

Total Cash (sum of above): up to $101,000

Retirement: 7% of annual compensation

Signing Bonus: $5,000

Relocation: $2-10,000

   Base: $152,500 (UK: £90,000)

Performance Bonus: up to $35,000

Total Cash (sum of above): up to $187,500

Retirement: up to $11,900

Signing Bonus: $25,000

Relocation: $2-9,000

BCG

Base: $84,000

Performance Bonus: up to $16,800

Total Cash (sum of above): $100,800

Retirement: Profit sharing deposited into 401k account

Profit Sharing: up to $4,400

Signing Bonus: $5,000

Relocation: $2-8,000

    Base: $147,000

Performance Bonus: up to $44,100

Total Cash (sum of above): up to $191,100

Retirement: No 401k match but profit sharing is deposited into 401k account

Signing Bonus: $30,000

Relocation: $2-8,000

Bain

    Base: $83,500 (UK: £45,500)

Performance Bonus: up to $12,525

Total Cash (sum of above): up to $96,025

Retirement: 4.5% of base + bonus into 401k, no contribution required

Signing Bonus: $5,000

Relocation: $2-8,000

Base: $148,000

Performance Bonus: up to $37,000

Total Cash (sum of above): up to $185,000

Retirement: 401k contribution up to $8,000

Signing Bonus: $25,000

Relocation: up to $8,000

Deloitte   Base: $88,000

Performance Bonus: up to $13,200 (15% of base)

Total Cash (sum of above): up to $101,200

Retirement: 6% match for 401k

Signing Bonus: $12,500

Relocation: up to $2-5,000

    Base: $145,000 (Canada MBA: C$125,000)

Performance Bonus: up to $31,900

Total Cash (sum of above): $176,900

Retirement: 25% match of first 6% into 401k

Tuition Reimbursement: Full 2nd year tuition for returning interns

Signing Bonus: $25,000

Relocation: $2,500 if local; up to $10,000 otherwise

Oliver Wyman Base Salary :$80,000

Performance Bonus: up to $16,000

Signing Bonus: $10,000

Relocation: up to $2,000

Base Salary: $135,000
LEK Base: $74,000

Performance Bonus: up to $14,800 (20% of base)

Total Cash (sum of above): up to $88,800

Signing Bonus: $7,500

Relocation: up to $2,500

Base: $150,000

Performance Bonus: up to $25,000

Total Cash (sum of above): $175,000

Retirement & Profit Sharing: up to $30,000

Signing Bonus: $25,000

Relocation: up to $5,000

Parthenon   Base: $92,000 (UK: £46,000)

Performance Bonus: up to $10,000

Total Cash (sum of above): up to $102,000

Signing Bonus: $10,000

Relocation: up to $2,000

Base: $170,000

Performance Bonus: up to $9,000

Total Cash (sum of above): up to $179,000

Signing Bonus: $35,000

Relocation: up to $2,000

PWC Base: $72,000

Performance Bonus: up to $10,800 (15% of base)

Total Cash (sum of above): up to $82,800

Signing Bonus: $5-10,000

Relocation: up to $2,000

  Base: $135-140,000

Performance Bonus: up to $27,000

Total Cash (sum of above): up to $167,000

Starting Bonus: $25,000

Relocation: up to $2,000

AT Kearney    Base: $75,000

Performance Bonus: up to $15,000

Total Cash (sum of above): up to $90,000

Retirement: 6% match for 401k

Profit Sharing: up to $7,200

Signing Bonus: $5,000

Relocation: up to $10,000

Base: $147,000

Performance Bonus: up to $44,100

Total Cash (sum of above): $191,100

Retirement: 401k contribution up to $8,000

Signing Bonus: $25,000

Relocation: up to $10,000

Accenture     Base: $77,500-85,000

Performance Bonus: up to $8,500 (10% of base)

Total Cash (sum of above): up to $93,500

Retirement: 6% match for 401k after 1st year

Stock: 15% discount of Accenture stock

Signing Bonus: $10,000

Relocation: up to $5,000

Base: $147,500

Performance Bonus: up to $44,400

Total Cash (sum of above): up to $191,900

Retirement: 6% match for 401k

Tuition Reimbursement: up to $80,000

Signing Bonus: $25,000

Relocation: up to $8,000

KPMG    Base: $68,000

Performance Bonus: up to $8,160

Total Cash (sum of above): up to $76,160

Signing Bonus: Rare

Relocation: up to $2,000

    Base: $145,000

Performance Bonus: up to $25,000

Total Cash (sum of above): $170,000

Signing Bonus: $25,000

Relocation: up to $5,000

 

Source: https://managementconsulted.com/            https://www.glassdoor.com/Salary/

 

Consulting salaries are sky high. But money shouldn’t be the only reason you choose consulting. For many of my friends, they are deliberately choosing management consulting as a career rather than other more lucrative industries such as software or technical engineer at a big tech firm because of the challenge that consulting entails and because of the doors that management consulting opens.

If money were the only concern, there are many more lucrative options out there. Investment banking analysts straight out of undergrad can get up to 120k to 150k USD their first year. Entry level software engineer at 22 years old at Google can receive 50k sign on bonus, 115k base, 10k year end bonus, and 60-70 Google stock (valued at more than 1k each) that is cashable at the end of the year, all in the first year.

But why should you still choose management consulting? Because management consulting open stores and lets you see industries and career opportunities that being software engineers cannot see. But at the end of the day, compared to most positions that you can get straight out of undergrad, management consulting is not a bad option even on the money side.

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