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Management Consulting 
Salary Guide 2023

 

The Management Consulting industry is known for its competitive compensation packages and high earning potential. As the industry continues to evolve and grow, it is important to stay informed about the current salary trends and expectations for management consulting roles.

In this guide, we take a look at the salaries offered by some of the top Management Consulting firms in 2023. These salaries are for entry-level consultants, as well as more senior roles such as managers and Partners.

For Partner salaries, we have not included probationary or associate Partner which generally lasts for a period of two to three years depending on the firm. Partners at this level are renumerated at a much lower salary and compensation scheme until they pass their probationary period.

Lastly, it is important to note factors like location, role, and performance can impact compensation within the industry. All figures sourced are in USD.

Sources: LinkedIn, Glassdoor, current and former employees.

Firm

General Salary

Partner Salary

McKinsey & Company

Typically, entry-level consultants at McKinsey can expect to earn a base salary of around $90,000 to $120,000 per year, depending on their location and level of education. As they gain more experience and advance in their careers, this can increase to $150,000 to $250,000 or more for more senior consultants, including managers and partners.

Partners at McKinsey typically earn a salary in the range of $500,000 to $5 million or more per year. This figure can include base salary, bonuses, and other benefits.

Bain & Company

Typically, entry-level consultants at Bain can expect to earn a base salary of around $90,000 to $120,000 per year, depending on their location and level of education. As they gain more experience and advance in their careers, this can increase to $150,000 to $250,000 or more for more senior consultants, including managers and partners.

Partners at Bain & Company typically earn a salary in the range of $500,000 to $5 million or more per year. This figure can include base salary, bonuses, and other benefits.

Boston Consulting Group

Typically, entry-level consultants at BCG can expect to earn a base salary of around $90,000 to $120,000 per year, depending on their location and level of education. As they gain more experience and advance in their careers, this can increase to $150,000 to $250,000 or more for more senior consultants, including managers and partners.

Partners at BCG typically earn a salary in the range of $500,000 to $5 million or more per year. This figure can include base salary, bonuses, and other benefits.

Strategy&

Typically, entry-level consultants at Strategy& can expect to earn a base salary of around $80,000 to $100,000 per year, depending on their location and level of education. As they gain more experience and advance in their careers, this can increase to $120,000 to $200,000 or more for more senior consultants, including managers and partners.

Partners at Strategy& typically earn a salary in the range of $500,000 to $2 million or more per year. This figure can include base salary, bonuses, and other benefits.

Deloitte

Typically, entry-level consultants at Deloitte can expect to earn a base salary of around $70,000 to $90,000 per year, depending on their location and level of education. As they gain more experience and advance in their careers, this can increase to $100,000 to $200,000 or more for more senior consultants, including managers and partners.

Partners at Deloitte typically earn a salary in the range of $500,000 to $3 million or more per year. This figure can include base salary, bonuses, and other benefits.

PwC

Typically, entry-level consultants at PwC can expect to earn a base salary of around $70,000 to $80,000 per year, depending on their location and level of education. As they gain more experience and advance in their careers, this can increase to $100,000 to $150,000 or more for more senior consultants.

Partners at PwC typically earn a salary in the range of $500,000 to $3 million or more per year. This figure can include base salary, bonuses, and other benefits.

KPMG

Typically, entry-level consultants at KPMG can expect to earn a base salary of around $70,000 to $90,000 per year, depending on their location and level of education. As they gain more experience and advance in their careers, this can increase to $100,000 to $200,000 or more for more senior consultants, including managers and partners.

Partners at KPMG typically earn a salary in the range of $500,000 to $3 million or more per year. This figure can include base salary, bonuses, and other benefits.

EY

Typically, entry-level consultants at EY can expect to earn a base salary of around $70,000 to $90,000 per year, depending on their location and level of education. As they gain more experience and advance in their careers, this can increase to $100,000 to $200,000 or more for more senior consultants, including managers and partners.

Partners at EY typically earn a salary in the range of $500,000 to $3 million or more per year. This figure can include base salary, bonuses, and other benefits.

Microsoft (Consulting  Services)

The compensation for consultants at Microsoft is generally considered to be competitive with other technology and consulting firms. Entry-level consultants can expect to earn a base salary of around $70,000 to $90,000 per year, depending on their location, level of education and specific role. As they gain more experience and advance in their careers, this can increase to $120,000 to $200,000 or more for more senior consultants and managers.

 

AWS

Entry-level consultants can expect to earn a base salary of around $70,000 to $90,000 per year, depending on their location, level of education, and specific role. As they gain more experience and advance in their careers, this can increase to $120,000 to $200,000 or more for more senior consultants and managers.

 

Google (GCP Professional  Services)

Entry-level consultants can expect to earn a base salary of around $80,000 to $100,000 per year, depending on their location, level of education, and specific role. As they gain more experience and advance in their careers, this can increase to $150,000 to $250,000 or more for more senior consultants and managers.

 

BDO

Typically, entry-level consultants at BDO can expect to earn a base salary of around $50,000 to $70,000 per year, depending on their location and level of education. As they gain more experience and advance in their careers, this can increase to $80,000 to $150,000 or more for more senior consultants, including managers and partners.