2024 Management Consulting Salaries Overview

Welcome to 2024, and our updated management consulting salaries report!

This is a big year: The United States will elect (or re-elect) a president, the Summer Olympics take place in Paris, and a total solar eclipse will be visible in much of North America.

It’s a big year for the consulting industry as well, as firms look to bounce back from a difficult year marked by declining demand, hiring freezes, layoffs, and starting salaries remaining flat.

What does this mean for you? If you can make it through the gauntlet that is consulting recruiting, it’s a great time to break into the industry. Comp should be on the rise in 2025, and the lifestyle is actually better than it was 5-10 years ago. How? Travel is down, utilization is coming down from pre-pandemic highs, and salaries are still significantly higher than 2019. Put it all together, on top of the professional development and exit opportunities, and that’s a pretty great value proposition for consulting.

Nervous about the consulting recruiting process, yet convinced the career path is right for you? We can help (and do help thousands of candidates per year). Work with us through our editing package – we’ll rewrite your resume and build you a networking strategy. Already have an interview? Let’s execute a personalized prep plan through 1:1 coaching.

Now, let’s get into some of the consulting salary trends we identified this year.

At both the pre-MBA and post-MBA entry levels, 2024 consulting salaries stayed flat compared to 2023. There are exceptions to the rule, as you’ll see in the report, but this is the first time in years we have seen overall starting salaries not increase at all from year-to-year.

This news is noteworthy for two reasons: first, this salary stagnation came amidst still elevated global inflation, delivering a purchasing power decrease to new consultants in 2024 compared to 2023. Second, salaries and bonuses stayed flat industry-wide, increasing the allure of “brand-name” firms who can offer candidates intrinsic career value beyond total compensation.

As we predicted last year, this year’s compensation inertia took place at both the pre-MBA and post-MBA entry levels and was most pronounced in the U.S. market. We did see salary growth in markets outside of the U.S., as many markets (e.g., Europe) begin to catch up to U.S. salaries, which have far outpaced global peers in recent years. Still, while many firms aim to achieve parity in purchasing power for employees across geographies, this isn’t often achieved, and the purchasing power of U.S. consultants is still stronger in 2024.

While firms kept base compensation flat, many went further – decreasing the total earning power of new consultants by decreasing the maximum performance bonuses they could earn. In addition, after recent updates to top-down compensation structures, raises this year were also lower. This tells us two things: first, many firms are using depressed raises as a tool to increase attrition, which has been lower than historical averages over the last year. Second, with slowdowns in traditional exit sectors (e.g., corporate strategy, PE), firms aren’t worried about too much talent leaving at once.

What do you get when you put it all together?

The Gap Between Top Firms and the Rest Remains Wide…

Established consulting firms drive a lion’s share of the overall industry growth through organic and inorganic means. This in turn allows them to dramatically outpace the competition in terms of the max compensation they offer (e.g., through performance bonuses and profit sharing), as well as extend lifestyle perks like unlimited PTO and limited travel. At the same time, boutique firms were hit harder by last year’s declining demand for services, and the proliferation of in-house strategy groups at large corporations continues to limit the growth of a fragmented market of boutique players.

…and the Staff are Less Busy…

Overall consultant utilization declined in 2023, which is why many firms conducted hiring freezes and layoffs, as well as lowering available performance bonuses.

Due to rebounding demand and greater consultant attrition, we expect utilization to increase in 2024. This should lead to decreased retention and a slight increase in hiring in 2025.

…yet Competition for Open Roles will be Fierce in 2024

As consultant utilization increases, services demand rebounds, and competition for talent heats back up between consulting and Wall Street/Silicon Valley, we should see more open roles and higher salary growth this year.

However, the competition for these open roles will be fierce. Demand for open consulting roles will far outpace the supply of open roles, as hiring is not going back to the frothy environment of 2021 and 2022. Combine this with the fact that consulting is still a “safer” option than banking and tech; 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.

However, if you can make it through the gauntlet that is consulting recruiting, there are rewards on the other side. Rising demand, increase competition for talent, and increasing consultant utilization should put upward pressure on salary raises headed into the 2025 cycle.

In the 16 years we have been covering salaries, this is the only the 2nd year that starting salaries did not increase.

While most historical consulting salary increases are in the 2-4% growth range, the last three years have brought us increases of ~10% YoY, signaling the effects of a tightening labor market and increased demand.

Accelerating a trend we first noticed five 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.

In fact, less than 20% of McKinsey’s most recent intake was made up of direct MBA hires, and the firm hired analysts from over 370 universities. Still, targets drove most hiring, so if you’re from a non-target school, network now and apply early.

Below are salary figures for those joining management consulting positions in 2024. The data comes from our interview prep clients who received written job offers and firm representatives. The salary data is for those recruited straight from an undergraduate, master’s, MBA, or PhD program or those that were hired at the same level. All salary figures are in U.S. dollars unless otherwise stated.

This is the only originally sourced data available in the industry. Everyone else uses ours or uses outdated or arbitrarily averaged Glassdoor salary data, PayScale salary information, or Indeed salaries. Use or republication of this data is prohibited without the express written consent of Management Consulted.

All of the data and our expanded insights are included in the full downloadable report – get a copy for free below.

Salaries for Incoming Undergraduate & Master’s Full-Time Hires

Summary

Overall, salaries for incoming undergraduate & master’s students have remained flat compared to last year. When comparing consulting roles to those in industry at the same level, there are few better options when it comes to total comp. If compensation is the most important factor in your firm preferences, look at firms like Alvarez & Marsal, Accenture Strategy, OC&C, Capital One Strategy Group, Bain, Oliver Wyman, IGS, BCG, McKinsey, and Analysis Group. However, we recommend considering other factors in your search as well, including exit opportunities, firm culture, travel, and more.

 

consultant salary chart, consultant salaries, consulting salaries, management consulting salaries

 

Bain, BCG, and McKinsey Consulting Salaries

Bain & Company Undergraduate & Master’s Consultant Salary

Base:
$112,000 (Canada: C$100,000) (UK: £52,200)
Performance Bonus:
up to $22,500 (UK: up to £11,000)
Total Cash:
up to $134,500
Housing Allowance:
up to $5,000
PTO Vacation:
20 days
Raises:
UK: Access to regional performance bonus
Relocation:
$5,000
Retirement:
4.5% of base + bonus into 401k, no contribution required (UK: 9% of base salary)
Signing Bonus:
$5,000 (UK: £3,000)

Boston Consulting Group (BCG) Undergraduate & Master’s Consultant Salary

Base:
$110,000 (Canada: C$90,000) (Aus: A$67,000) (UK: £49,500) (Germany: €68,500) (India: INR 2,150,000)
Performance Bonus:
up to $22,000
Total Cash:
up to $132,000
Profit Sharing:
up to $4,400
PTO Vacation:
15 days
Relocation:
Interest-free loan
Retirement:
Profit sharing deposited into 401k account
Signing Bonus:
$5,000 (Canada: C$8,000) (Aus: A$15,000)

McKinsey & Company Undergraduate & Master’s Consultant Salary

Base:
$112,000 (Canada: C$100,000) (Hong Kong: $50,900)
Performance Bonus:
up to $18,000
Total Cash:
up to $130,000
Housing Allowance:
up to $5,000 (geo contingent)
PTO Vacation:
19 days
Relocation:
up to $10,000
Retirement:
7.5% qualified comp into 401k
Signing Bonus:
$5,000

Big 4 Consulting Salaries

Deloitte Consulting Undergraduate & Master’s Consultant Salary

Base:
$88,000-$95,000 (Master's: up to $105,000) (UK: £32,500-£49,000) (Canada: C$70,000) (Luxembourg: €53,000) (AUS: A$57,000)
Performance Bonus:
Master's: up to $26,250 (UK: up to £4,900) (Luxembourg: up to €2,000)
Total Cash:
up to $95,000 (Master's: up to $131,250)
PTO Vacation:
23 days
Relocation:
up to $2,500
Retirement:
25% match of first 6%
Signing Bonus:
up to $12,500 (Master's: $15,000) (Canada: C$5,000)

Deloitte S&A Undergraduate & Master’s Consultant Salary

Base:
$100,000
Performance Bonus:
Only after 3rd year (15% of base)
Total Cash:
up to $100,000
Retirement:
25% match for first 6% of individual contributions in 401k
Signing Bonus:
$12,500

Ernst & Young (EY) Undergraduate & Master’s Consultant Salary

Base:
up to $85,000 (Canada: C$70,000) (UK: £55,000) (Dublin: €32,000) (India: Rs 2,250,000) (South Africa: R 654,480)
Performance Bonus:
Real-time bonuses (UK: up to £1,200)
Total Cash:
up to $85,000
PTO Vacation:
Unlimited
Relocation:
up to $2,000
Retirement:
4% base salary match after first year
Signing Bonus:
up to $5,000 (Canada: C$3,000)

EY-Parthenon Undergraduate & Master’s Consultant Salary

Base:
$100,000 (Canada: C$75,000) (Singapore: S$72,000) (UK: £50,000)
Performance Bonus:
up to $22,000
Total Cash:
up to $122,000
PTO Vacation:
Unlimited
Raises:
$50,000 retention bonus in SSG after 3 years
Relocation:
up to $2,000
Signing Bonus:
$8,000 (Canada: C$3,000)

KPMG Undergraduate & Master’s Consultant Salary

Base:
$78,000-$90,000 (Canada: up to C$68,000) (UK: £29,150) (Dublin: €32,000)
Performance Bonus:
up to C$15,000 (Canada)
Total Cash:
up to $90,000
PTO Vacation:
30 days
Relocation:
up to $2,000 (Canada: up to C$2,000)
Retirement:
Match 50% (2.5%) if deposit 5%
Signing Bonus:
up to $10,000

PricewaterhouseCoopers (PwC) Undergraduate & Master’s Consultant Salary

Base:
$85,000 (Canada: C$72,000)
Total Cash:
up to $85,000
Signing Bonus:
$5,000 (Canada: C$5,000)

Strategy& Undergraduate & Master’s Consultant Salary

Base:
$100,000 (Canada: C$70,000) (UK: £52,000) (Aus: A$81,000) (Dubai: $70,000)
Performance Bonus:
up to $27,000 (Canada: up to C$14,000) (UK: up to £5,200)
Total Cash:
up to $127,000
PTO Vacation:
15 days
Relocation:
up to $2,000 (Dubai: up to $5,000)
Retirement:
25% of the first 4% (5 year vest)
Signing Bonus:
$5,000 (Canada: C$5,000) (UK: £6,000) (Aus: A$11,000) (Dubai: $10,000)

Notable Boutique Consulting Salaries

Accenture Strategy Undergraduate & Master’s Consultant Salary

Base:
$105,000 (Canada: C$95,000) (India: Rs 2,808,000)
Performance Bonus:
up to $30,000
Total Cash:
up to $135,000
PTO Vacation:
20 days
Relocation:
up to $2,500
Retirement:
6% match for 401k after first year
Signing Bonus:
$12,500 (Canada: C$10,000)
Stock:
15% discount on Accenture stock

Advancy Undergraduate & Master’s Consultant Salary

Base:
$100,000 (NYC)
Performance Bonus:
up to $15,000
Total Cash:
up to $115,000
PTO Vacation:
20 days
Relocation:
up to $3,000
Retirement:
5% match
Signing Bonus:
$4,000

Altman Solon Undergraduate & Master’s Consultant Salary

Base:
$95,000
Performance Bonus:
up to $14,250
Total Cash:
up to $109,250
PTO Vacation:
20 days
Retirement:
401k match up to 5% of total comp
Signing Bonus:
$10,000

Alvarez & Marsal Undergraduate & Master’s Consultant Salary

Base:
$85,000-$129,000 (CRG: $100,000)
Performance Bonus:
up to $51,000 (CRG: up to $100,000)
Total Cash:
up to $180,000
Retirement:
6% match
Signing Bonus:
$5,000

Analysis Group Undergraduate & Master’s Consultant Salary

Base:
$96,200
Performance Bonus:
up to $24,050
Total Cash:
up to $120,250
Retirement:
5% match
Signing Bonus:
$12,500

Booz Allen Hamilton Undergraduate & Master’s Consultant Salary

Base:
$75,000 (Dubai, Abu Dhabi, Doha, Beirut, Riyadh: $60-80,000)
Performance Bonus:
up to $4,000 (Dubai, Abu Dhabi, Doha, Beirut, Riyadh: $9-12,000)
Total Cash:
up to $79,000
Allowances:
40% of base paid in Dubai/Abu Dhabi/Doha; 30% in Riyadh
Relocation:
up to $5,000 (Dubai, Abu Dhabi: up to $15,000)
Retirement:
6% match for 401k (Dubai, Abu Dhabi, Doha, Beirut, Riyadh: 1 month of latest salary per year of service)

Capital One Strategy Group Undergraduate & Master’s Consultant Salary

Base:
$106,000-$113,000 (geo-dependent)
Performance Bonus:
up to $6,600
Total Cash:
up to $119,600
PTO Vacation:
15 days
Relocation:
up to $3,000 (after tax)
Retirement:
4.5% match
Signing Bonus:
up to $20,000 (after tax)

ClearView Healthcare Partners Undergraduate & Master’s Consultant Salary

Base:
$92,500 (UK: £50,000)
Performance Bonus:
up to $10,000
Total Cash:
up to $102,500
PTO Vacation:
15 days
Relocation:
up to $2,500
Signing Bonus:
$7,500

Cornerstone Research Undergraduate & Master’s Consultant Salary

Base:
$97,000
Performance Bonus:
up to $10,000
Total Cash:
up to $107,000
Relocation:
100% of moving expenses; 4 nights in hotel while house hunting; all broker fees
Retirement:
50% match for first 6% of individual contributions in 401k
Signing Bonus:
up to $15,000

FTI Consulting Undergraduate & Master’s Consultant Salary

Base:
$88,000
Performance Bonus:
up to $12,000
Total Cash:
up to $100,000
Profit Sharing:
Overtime bonus: $45/hour > 36.5 hrs
PTO Vacation:
20 days
Relocation:
up to $2,000
Retirement:
$0.83 on $1 up to 6%
Signing Bonus:
up to $8,000

Investor Group Services (IGS) Undergraduate & Master’s Consultant Salary

Base:
$90,000
Performance Bonus:
up to $40,000
Total Cash:
up to $130,000
PTO Vacation:
15 days
Raises:
$15,000 base salary raise in Year 2
Relocation:
Included in signing bonus
Retirement:
3% match
Signing Bonus:
$7,500

Kearney Undergraduate & Master’s Consultant Salary

Base:
$100,000 (Canada: C$100,000) (Dubai: AED 600,000) (Romania: €46,200)
Performance Bonus:
up to $15,000 (Canada: up to C$15,000)
Total Cash:
up to $115,000
Profit Sharing:
up to $8,500
Relocation:
up to $10,000
Retirement:
3% matching on 6% contribution
Signing Bonus:
$10,000 (Canada: C$10,000)

L.E.K. Consulting Undergraduate & Master’s Consultant Salary

Base:
$95,000 (UK: £50,000) (Europe: €36,000)
Performance Bonus:
up to $3,000 (UK: up to £2,750) (Europe: up to €3,000)
Total Cash:
up to $98,000
Profit Sharing:
up to $19,600
PTO Vacation:
15 days
Retirement:
5% of profit share
Signing Bonus:
$10,000 (UK: £5,500)
Tuition:
up to $3,000 for returning interns

NERA Economic Consulting Undergraduate & Master’s Consultant Salary

Base:
$88,000
Performance Bonus:
Uncapped
Total Cash:
at least $88,000
Retirement:
4% base and 50% match up to 6%
Signing Bonus:
$20,000

OC&C Strategy Consultants Undergraduate & Master’s Consultant Salary

Base:
$110,000 (UK: £54,000)
Performance Bonus:
up to $25,000 (UK: up to £10,800)
Total Cash:
up to $144,500 with incentives
PTO Vacation:
20 days
Relocation:
up to $5,000
Retirement:
match up to 3.5% of salary
Signing Bonus:
$7,500 (UK: £7,000)

Oliver Wyman Undergraduate & Master’s Consultant Salary

Base:
$110,000 (Canada: $100,000)
Performance Bonus:
up to $18,700
Total Cash:
up to $128,700
PTO Vacation:
17 days
Relocation:
up to $2,000
Retirement:
50% of 6% match, 4% contribution after first year
Signing Bonus:
$10,000 (Canada: C$10,000)

Palm Tree LLC Undergraduate & Master’s Consultant Salary

Base:
$75,000
Performance Bonus:
up to $30,000
Total Cash:
up to $105,000

Simon-Kucher & Partners Undergraduate & Master’s Consultant Salary

Base:
$90,000 (Masters: $105,000) (Canada: C$75,000) (UK: £52,000)
Performance Bonus:
$8,100 - $9,450
Total Cash:
up to $99,450
PTO Vacation:
15 days
Relocation:
up to $2,000
Retirement:
3% match
Signing Bonus:
up to $5,000

Stax Undergraduate & Master’s Consultant Salary

Base:
$85,000-$90,000
Performance Bonus:
$10,000-$15,000
Total Cash:
up to $105,000
PTO Vacation:
Unlimited
Relocation:
U.S./U.K. rotations for high performers
Retirement:
4% of base 401K contribution
Signing Bonus:
$2,500

Wavestone Undergraduate & Master’s Consultant Salary

Base:
$81,000
Performance Bonus:
up to $3,240
Total Cash:
up to $84,240
PTO Vacation:
25 days
Relocation:
up to $5,000
Retirement:
5% 401k match
Signing Bonus:
$7,500

ZS Associates Undergraduate & Master’s Consultant Salary

Base:
$90,000 (Canada: C$85,000) (UK: £47,000) (Tokyo: ¥5,500,000)
Performance Bonus:
up to $9,000 (UK: up to £3,500)
Total Cash:
up to $99,000
Cost Of Living Adjustment:
up to $18,000
PTO Vacation:
15 days
Relocation:
up to $3,000 (Canada: up to C$3,000) (UK: up to £2,000) (Tokyo: up to ¥300,000)
Retirement:
3% match
Signing Bonus:
up to $8,000 (UK: £3,000)
Tuition:
up to $5,000

Other Boutique Undergraduate & Master’s Consultant Salary

AArete Undergraduate & Master’s Consultant Salary

Total Cash:
up to $73,500

Accenture Undergraduate & Master’s Consultant Salary

Base:
up to $86,000 (Canada: C$70,000) (UK: £33,500) (Melbourne: A$67,000)
Performance Bonus:
up to $8,600
Total Cash:
up to $94,600
PTO Vacation:
20 days
Retirement:
6% match after first year (Melbourne: A$6,700)
Signing Bonus:
$10,000 (UK: £10,000)
Stock:
15% discount on Accenture stock

Accenture Federal Undergraduate & Master’s Consultant Salary

Base:
$82,000
Total Cash:
up to $82,000
Relocation:
up to $2,500
Signing Bonus:
$10,000

Advisory Board Company Undergraduate & Master’s Consultant Salary

Base:
$68,500
Total Cash:
up to $68,500
PTO Vacation:
23 days

Alpha FMC Undergraduate & Master’s Consultant Salary

Base:
$90,000 (Canada: C$104,000)
Performance Bonus:
up to $15,000
Total Cash:
up to $105,000
Profit Sharing:
Canada: C$15,000
PTO Vacation:
20 days
Signing Bonus:
$5,000 (Canada: C$6,250)

Analysys Mason Undergraduate & Master’s Consultant Salary

Base:
£48,000
Performance Bonus:
up to £4,800
Total Cash:
up to £52,800
Signing Bonus:
£4,000

Arthur D Little Undergraduate & Master’s Consultant Salary

Base:
$90,000
Performance Bonus:
up to $15,750 (target: $9,000)
Total Cash:
up to $105,750 (target: $99,000)
PTO Vacation:
Unlimited (min 22 days)
Retirement:
up to 6% of full comp
Signing Bonus:
$10,000

Artisan Healthcare Consulting Undergraduate & Master’s Consultant Salary

Base:
$81,000
Performance Bonus:
up to $20,250
Total Cash:
up to $101,250
PTO Vacation:
15 days
Signing Bonus:
$5,000

Atkins Global Undergraduate & Master’s Consultant Salary

Base:
£32,000
Total Cash:
£32,000
Signing Bonus:
£2,500

Avanade Undergraduate & Master’s Consultant Salary

Base:
$82,000
Performance Bonus:
up to $1,640
Total Cash:
up to $83,640
PTO Vacation:
20 days
Retirement:
6% match
Signing Bonus:
$2,500

Avencore Undergraduate & Master’s Consultant Salary

Base:
$100,000
Performance Bonus:
up to $25,000
Total Cash:
up to $125,000
PTO Vacation:
21 days
Relocation:
up to $10,000
Signing Bonus:
$15,000

Bates White Economic Consulting Undergraduate & Master’s Consultant Salary

Base:
$105,000
Performance Bonus:
Spot bonuses
Total Cash:
at least $105,000
PTO Vacation:
20 days
Raises:
Salary and promotion review every 6 months
Retirement:
5% contribution to profit share, subject to vesting
Signing Bonus:
up to $12,500

BearingPoint Undergraduate & Master’s Consultant Salary

Base:
$70,000
Total Cash:
up to $70,000
Signing Bonus:
$5,000

Beghou Consulting Undergraduate & Master’s Consultant Salary

Base:
$80,000
Performance Bonus:
Eligible after first full calendar year
Total Cash:
up to $80,000
PTO Vacation:
18 days
Retirement:
Max 3.5% match
Signing Bonus:
$10,000

Berkeley Research Group Undergraduate & Master’s Consultant Salary

Base:
$77,000
Performance Bonus:
up to $15,400
Total Cash:
up to $92,400
Signing Bonus:
$5,000

Brattle Group Undergraduate & Master’s Consultant Salary

Base:
$78,000
Performance Bonus:
up to $15,000
Total Cash:
up to $93,000
Signing Bonus:
$15,000

Bronner Group, LLC Undergraduate & Master’s Consultant Salary

Base:
$62,500
Performance Bonus:
up to $5,000
Total Cash:
up to $67,500
PTO Vacation:
18 days
Retirement:
No match

Cambridge Associates Undergraduate & Master’s Consultant Salary

Total Cash:
$68,000

CapCo Undergraduate & Master’s Consultant Salary

Base:
$75,000
Total Cash:
up to $75,000
PTO Vacation:
17 days
Signing Bonus:
$10,000

Capgemini Undergraduate & Master’s Consultant Salary

Base:
$68,000
Total Cash:
up to $68,000
Signing Bonus:
$5,000

Capgemini Invent Undergraduate & Master’s Consultant Salary

Base:
$85,000 (UK: £51,000)
Performance Bonus:
N/A
Total Cash:
up to $85,000
Signing Bonus:
$5,000

Carlisle & Co Undergraduate & Master’s Consultant Salary

Base:
$86,000
Total Cash:
up to $86,000
Signing Bonus:
$5,000

CBPartners Undergraduate & Master’s Consultant Salary

Base:
$70,000
Performance Bonus:
up to $10,500
Total Cash:
up to $80,500
Signing Bonus:
$2,000

CCC Intelligent Solutions Undergraduate & Master’s Consultant Salary

Base:
$72,100
Performance Bonus:
up to $7,000
Total Cash:
up to $79,100
PTO Vacation:
18 days
Retirement:
$.50 on $1 up to 6%

CCG Catalyst Undergraduate & Master’s Consultant Salary

Total Cash:
up to $75,000

cg42 Undergraduate & Master’s Consultant Salary

Total Cash:
up to $86,250

Charles River Associates International (CRAI) Undergraduate & Master’s Consultant Salary

Base:
$95,000
Performance Bonus:
up to $20,000
Total Cash:
up to $115,000
PTO Vacation:
25 days
Relocation:
up to $2,000
Signing Bonus:
$10,000

Chartwell Consulting Undergraduate & Master’s Consultant Salary

Base:
£48,000
Performance Bonus:
up to £13,000
Total Cash:
up to £61,000
PTO Vacation:
25 days
Signing Bonus:
£5,000

CIL Management Consultants Undergraduate & Master’s Consultant Salary

Base:
$80,000
Performance Bonus:
up to $8,000
Total Cash:
up to $88,000
PTO Vacation:
17 days
Relocation:
up to $5,000
Retirement:
4.5% match

Citeline Undergraduate & Master’s Consultant Salary

Base:
$90,000
Total Cash:
up to $90,000
PTO Vacation:
20 days
Retirement:
3% match

Cognizant Undergraduate & Master’s Consultant Salary

Base:
up to $73,000
Total Cash:
up to $73,000
PTO Vacation:
15 days
Raises:
$5,000 bonus after 1st 30 days; $5,000 bonus after 1st year
Retirement:
50% match up to 6%
Signing Bonus:
$5,000

Credera Undergraduate & Master’s Consultant Salary

Base:
up to $90,000
Performance Bonus:
up to $18,000
Total Cash:
up to $108,000
PTO Vacation:
25 days
Signing Bonus:
$10,000

Crowe LLP Undergraduate & Master’s Consultant Salary

Base:
up to $86,000
Total Cash:
up to $86,000
PTO Vacation:
Unlimited
Retirement:
$0.50 on the $1 for first 5% (2.5% match)
Signing Bonus:
up to $7,500

Dalberg Global Development Advisors Undergraduate & Master’s Consultant Salary

Base:
UK: £32,196
Total Cash:
up to £32,196

DeciBio Consulting Undergraduate & Master’s Consultant Salary

Base:
$86,000
Total Cash:
up to $86,000

Deloitte Government & Public Services Undergraduate & Master’s Consultant Salary

Base:
$82,000 (GPS Tech: $88,000)
Total Cash:
up to $82,000
Retirement:
25% match of first 6%
Signing Bonus:
$7,000 (GPS Tech: $12,500)

Deloitte Tech Undergraduate & Master’s Consultant Salary

Base:
$70,000 (UK: £32,500)
Total Cash:
up to $70,000
Signing Bonus:
$7,500

Ducker Carlisle Undergraduate & Master’s Consultant Salary

Base:
$86,000
Total Cash:
up to $86,000
Signing Bonus:
$5,000

Efficio Consulting Undergraduate & Master’s Consultant Salary

Base:
$85,000
Performance Bonus:
up to $12,750
Total Cash:
up to $97,750
PTO Vacation:
25 days
Retirement:
3.5% match

Gallup Consulting Undergraduate & Master’s Consultant Salary

Base:
$55,000
Performance Bonus:
up to $10,000
Total Cash:
up to $65,000
PTO Vacation:
Unlimited

Gartner Undergraduate & Master’s Consultant Salary

Base:
$76,000
Performance Bonus:
up to $1,900
Total Cash:
up to $77,900
PTO Vacation:
22 days
Raises:
Performance bonus up to 12% of base after 2 years
Relocation:
up to $5,000
Retirement:
5% match

Grant Thornton Undergraduate & Master’s Consultant Salary

Base:
$86,400
Total Cash:
up to $86,400
PTO Vacation:
Unlimited
Retirement:
4% match
Signing Bonus:
$2,000

Guidehouse (formerly Navigant Consulting) Undergraduate & Master’s Consultant Salary

Base:
$77,000
Performance Bonus:
up to $6,160
Total Cash:
up to $83,160
Retirement:
3% match
Signing Bonus:
$5,000

Huron Consulting Undergraduate & Master’s Consultant Salary

Base:
$75,000
Performance Bonus:
up to $7,500
Total Cash:
up to $82,500
PTO Vacation:
Unlimited
Retirement:
6% match
Signing Bonus:
$5,000

Infosys Undergraduate & Master’s Consultant Salary

Total Cash:
up to $61,000
Signing Bonus:
$4,000

Insight Sourcing (Acquired by Accenture) Undergraduate & Master’s Consultant Salary

Base:
$83,720
Total Cash:
up to $83,720

IQVIA Consulting Services Undergraduate & Master’s Consultant Salary

Base:
$90,000
Performance Bonus:
up to $6,300
Total Cash:
up to $96,300
PTO Vacation:
25 days
Signing Bonus:
$7,500

IRI Growth Consulting Undergraduate & Master’s Consultant Salary

Base:
$72,000
Performance Bonus:
up to $7,200
Total Cash:
up to $79,200
PTO Vacation:
Unlimited
Signing Bonus:
$5,000

Kaiser Associates Undergraduate & Master’s Consultant Salary

Base:
$87,000 (DC)
Total Cash:
up to $87,000 (DC)
PTO Vacation:
15 days
Relocation:
up to $8,700
Retirement:
25% match up to 8%
Signing Bonus:
$3,000

Kalypso Undergraduate & Master’s Consultant Salary

Base:
up to $70,050
Fixed Allowance:
+ $45/billable hour
Performance Bonus:
up to $3,500
Total Cash:
up to $73,550
Retirement:
3% of total comp
Signing Bonus:
up to $2,500

Kenway Consulting Undergraduate & Master’s Consultant Salary

Base:
$90,000
Performance Bonus:
up to $22,500
Total Cash:
up to $112,500
PTO Vacation:
Unlimited
Relocation:
up to $5,000

Kepler Cannon Undergraduate & Master’s Consultant Salary

Base:
$85,000
Performance Bonus:
$5,000
Total Cash:
up to $90,000
PTO Vacation:
15 days
Relocation:
up to $3,000
Retirement:
8% of base salary

Kroll (formerly Duff and Phelps) Undergraduate & Master’s Consultant Salary

Base:
$75,000
Performance Bonus:
up to $3,000
Total Cash:
up to $78,000
Relocation:
up to $6,000
Signing Bonus:
$5,000

Kx Advisors Undergraduate & Master’s Consultant Salary

Base:
$76,500
Performance Bonus:
$7,650
Total Cash:
up to $84,150
PTO Vacation:
15 days

Mars & Co Undergraduate & Master’s Consultant Salary

Base:
$95,000
Total Cash:
up to $95,000
PTO Vacation:
20 days
Relocation:
up to $5,000
Retirement:
.50 match of each $1 up to 4%
Signing Bonus:
$5,000

Mercer Management and HR Consulting Undergraduate & Master’s Consultant Salary

Base:
up to $77,000
Performance Bonus:
Unlimited overtime available
Total Cash:
up to $77,000 + overtime
PTO Vacation:
20 days
Retirement:
4% of base and 50% up to 6% of base after 1st year
Signing Bonus:
$7,500

Monitor Deloitte Undergraduate & Master’s Consultant Salary

Base:
$72,000 (Dubai)
Performance Bonus:
up to $15,000
Total Cash:
up to $87,000
PTO Vacation:
22 days
Relocation:
up to $4,000

Newton Europe Undergraduate & Master’s Consultant Salary

Base:
UK: £45,000
Total Cash:
UK: up to £45,000

NTT Data (Formerly Carlisle & Gallagher) Undergraduate & Master’s Consultant Salary

Base:
$84,000
Total Cash:
up to $84,000
Signing Bonus:
$10,000

Optum Consulting Development Program Undergraduate & Master’s Consultant Salary

Base:
$81,000
Total Cash:
up to $81,000
PTO Vacation:
23 days
Retirement:
Up to 4.5% match on 6% employee contribution
Signing Bonus:
$3,000

Oxbow Partners Undergraduate & Master’s Consultant Salary

Base:
UK: £45,000
Performance Bonus:
UK: up to £11,250
Total Cash:
UK: up to £56,250
PTO Vacation:
25 days

PA Consulting Group Undergraduate & Master’s Consultant Salary

Base:
UK: £36,000
Performance Bonus:
UK: up to £4,000
Total Cash:
UK: up to £40,000
PTO Vacation:
UK: 25 days
Signing Bonus:
UK: £1,000

Peloton Consulting Group Undergraduate & Master’s Consultant Salary

Base:
$64,000
Performance Bonus:
up to $3,200
Total Cash:
up to $67,200
Signing Bonus:
$1,000

Plural Strategy Undergraduate & Master’s Consultant Salary

Base:
$80,000
Performance Bonus:
up to $20,000
Total Cash:
up to $100,000
PTO Vacation:
15 days
Retirement:
4% match of total comp
Signing Bonus:
$5,000

Porsche Consulting Undergraduate & Master’s Consultant Salary

Base:
$90,000
Performance Bonus:
up to $4,500
Total Cash:
up to $94,500
PTO Vacation:
15 days
Retirement:
6% match

Prescient Healthcare Group Undergraduate & Master’s Consultant Salary

Base:
$85,000
Total Cash:
up to $85,000
PTO Vacation:
20 days
Retirement:
4% match

Prophet Undergraduate & Master’s Consultant Salary

Base:
$92,000
Performance Bonus:
up to $10,120
Total Cash:
up to $102,120
PTO Vacation:
20 days
Relocation:
up to $2,000
Signing Bonus:
$8,000

Protiviti Undergraduate & Master’s Consultant Salary

Base:
up to $75,000
Performance Bonus:
up to $3,000
Total Cash:
up to $78,000
Signing Bonus:
$5,000

Putnam Undergraduate & Master’s Consultant Salary

Base:
$75,000
Performance Bonus:
up to $7,500
Total Cash:
up to $82,500
Signing Bonus:
$5,000

Reference Point Undergraduate & Master’s Consultant Salary

Base:
$95,000
Performance Bonus:
up to $13,800
Total Cash:
up to $108,800

Rios Partners Undergraduate & Master’s Consultant Salary

Base:
$60,000
Total Cash:
up to $60,000

Riveron Undergraduate & Master’s Consultant Salary

Base:
$105,000
Performance Bonus:
up to $20,000
Total Cash:
up to $125,000

RSM (formerly McGladrey) Undergraduate & Master’s Consultant Salary

Base:
up to $75,500
Performance Bonus:
up to $2,640
Total Cash:
up to $78,140
PTO Vacation:
Unlimited
Signing Bonus:
up to $5,000

Sendero Consulting Undergraduate & Master’s Consultant Salary

Total Cash:
$65,000

Slalom Consulting Undergraduate & Master’s Consultant Salary

Total Cash:
up to $72,000

SSA & Company Undergraduate & Master’s Consultant Salary

Total Cash:
up to $103,500

Targus Consulting Undergraduate & Master’s Consultant Salary

Base:
$88,400
Performance Bonus:
up to $18,000
Total Cash:
up to $106,400
PTO Vacation:
30 days
Raises:
$12,500 retention bonus after 2 years
Retirement:
4%
Signing Bonus:
$5,000

Teneo Undergraduate & Master’s Consultant Salary

Base:
$90,000
Performance Bonus:
up to $15,000
Total Cash:
up to $105,000
PTO Vacation:
Unlimited
Signing Bonus:
$5,000

The Dedham Group Undergraduate & Master’s Consultant Salary

Base:
$95,000
Performance Bonus:
up to $9,500
Total Cash:
up to $104,500

The Keystone Group Undergraduate & Master’s Consultant Salary

Base:
$100,000
Total Cash:
up to $100,000

Third Horizon Consulting Undergraduate & Master’s Consultant Salary

Total Cash:
up to A$56,500

Triage Consulting Group (now Cloudmed) Undergraduate & Master’s Consultant Salary

Base:
$55,000
Performance Bonus:
up to $2,500
Total Cash:
up to $57,500
PTO Vacation:
20 days
Retirement:
2% match
Signing Bonus:
$600

West Monroe Undergraduate & Master’s Consultant Salary

Base:
$75,000-$96,500 (geo contingent)
Performance Bonus:
up to $3,860
Total Cash:
up to $100,360 (geo contingent)
PTO Vacation:
Unlimited
Retirement:
6% of salary 401(k) match and ESOP
Signing Bonus:
up to $7,500
Stock:
Option to purchase shares

Wilson Perumal & Company Undergraduate & Master’s Consultant Salary

Base:
$120,000 (Master's)
Performance Bonus:
up to $24,000 (Master's)
Total Cash:
up to $144,000 (Master's)
PTO Vacation:
15 days
Retirement:
3% guaranteed, up to 6% match

World Wide Technology (WWT) Undergraduate & Master’s Consultant Salary

Base:
$90,000
Performance Bonus:
$10,000 guaranteed
Total Cash:
up to $100,000
Profit Sharing:
3-5%
Signing Bonus:
$5,000

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Salaries for Incoming MBA & PhD Full-Time Hires

Summary

Starting salaries for incoming MBA & PhD hires also remained flat. Outside of finance, post-MBA compensation packages are the highest in consulting out of any industry. Not only is hiring in finance and tech only slowly picking up, but consulting continues to offer faster promotion cycles, broader industry exposure, and a better path to business leadership. The highest paying firms at the post-MBA/PhD level are Kearney, Alvarez & Marsal, AlixPartners, Bain, Accenture Strategy, Analysis Group, PwC Strategy&, Oliver Wyman, BCG, and EY-Parthenon.

 

consultant salary chart, consultant salaries, consulting salaries, management consulting salaries, mba salaries

Bain, BCG, and McKinsey Consulting Salaries

Bain & Company MBA & PhD Full-Time Hires

Base:
$192,000 (Canada: C$190,000) (UK: £97,000) (Paris: €112,000) (Singapore: S$184,000) (MEX: $124,000)
Performance Bonus:
up to $63,000 (UK: up to £20,000) (Singapore: up to S$73,800)
Total Cash:
up to $255,000
Profit Sharing:
Up to 20% of base and bonus vesting after 3 years
PTO Vacation:
25 days
Relocation:
$8,000 for under 600 miles; $15,000 for over 600 miles
Retirement:
401k contribution up to $8,000 (UK: up to £10,000)
Signing Bonus:
$30,000 (Canada: C$30,000) (UK: £15,000) (Singapore: S$40,300)

Boston Consulting Group (BCG) MBA & PhD Full-Time Hires

Base:
$190,000 (Canada: C$199,500) (UK: £93,000) (Australia: A$160,000) (Dubai: $135,000) (Spain: €82,200) (Brazil: R$399,000) (India: INR 2,800,000) (Saudi Arabia: SAR768,000)
Performance Bonus:
up to $50,000 (Canada: up to C$69,800) (UK: up to £17,300) (Australia: up to A$61,600) (Dubai: up to $60,750) (India: up to INR 6,000,000)
Total Cash:
up to $240,000
PTO Vacation:
15 days
Relocation:
Interest-free loan
Retirement:
$10,930 into 401k (UK: up to 9% match) (Australia: A$16,000)
Signing Bonus:
up to $30,000 (Canada: C$26,000) (UK: up to £15,000) (Australia: up to A$40,000) (Spain: €20,000) (India: INR 2,000,000)

McKinsey & Company MBA & PhD Full-Time Hires

Base:
$192,000 (Canada: C$200,000) (UK: £90,000) (Hong Kong: $110,000) (Riyadh: $160,000)
Performance Bonus:
up to $40,000 (Canada: up to C$70,000)
Total Cash:
up to $232,000
Housing Allowance:
up to $5,000 (geo contingent)
PTO Vacation:
19 days
Relocation:
up to $10,100 (Canada: up to C$12,000)
Retirement:
7.5% qualified comp into 401k (Canada: C$14,000)
Signing Bonus:
$30,000 (Canada: up to C$45,000)
Tuition:
50% 2nd year tuition reimbursement for returning interns

Big 4 Consulting Salaries

Deloitte Consulting MBA & PhD Full-Time Hires

Base:
Italy: €105,000

Deloitte S&A MBA & PhD Full-Time Hires

Base:
$175,000 (Toronto: C$105,000) (Calgary: C$100,000) (Mexico City: MXN700,000)
Performance Bonus:
up to $43,750 (Mexico City: up to MXN35,000)
Total Cash:
$218,750
Relocation:
up to $10,000
Retirement:
25% match of first 6% into 401k (a total of 1.5%)
Signing Bonus:
$30,000 ($20,000 contingent on signing early) (Canada: C$15,000)
Tuition:
Full 2nd year tuition for returning interns

Ernst & Young (EY) MBA & PhD Full-Time Hires

Base:
$175,000 (Canada: C$110,000)
Performance Bonus:
Real-time bonuses
Total Cash:
up to $175,000
PTO Vacation:
Unlimited
Relocation:
up to $5,100
Retirement:
4% base salary match after first year
Signing Bonus:
$30,000 (half paid at signing, half at start date)

EY-Parthenon MBA & PhD Full-Time Hires

Base:
$175,000 (UK: £95,000)
Performance Bonus:
$26,250 to $52,500
Total Cash:
up to $227,500
PTO Vacation:
Unlimited
Relocation:
up to $5,100
Retirement:
25% match up to 6% (1.5% total) after 1 year
Signing Bonus:
$30,000 (plus $10,000 early signing; half paid at signing, half at start)

KPMG MBA & PhD Full-Time Hires

Base:
$145,000 (Canada: C$120,000)
Performance Bonus:
up to $17,400
Total Cash:
up to $162,400
PTO Vacation:
30 days
Relocation:
up to $10,000
Retirement:
Match 50% (2.5%) if deposit 5%
Signing Bonus:
up to $35,000

PricewaterhouseCoopers (PwC) MBA & PhD Full-Time Hires

Base:
$175,000
Performance Bonus:
up to $40,000
Total Cash:
up to $215,000
Retirement:
25% match up to 6%; 1% immediate separate contribution
Signing Bonus:
$30,000 paid at start of work

Strategy& MBA & PhD Full-Time Hires

Base:
$190,000 (Amsterdam: €95,000)
Performance Bonus:
up to $60,000 (Amsterdam: up to €20,000)
Total Cash:
up to $250,000
PTO Vacation:
20 days
Relocation:
Amsterdam: up to €5,000
Retirement:
4% automatic (no match required); 25% match up to 6% in a separate account
Signing Bonus:
$30,000 (Amsterdam: €20,000)

Notable Boutique Consulting Salaries

Accenture Strategy MBA & PhD Full-Time Hires

Base:
$175,000 (Canada: C$160,000) (UK: £83,000)
Performance Bonus:
$40,000 (all 1st years out of MBA) + $15,000 for top performers (UK: £10,000)
Total Cash:
up to $230,000
PTO Vacation:
20 days
Relocation:
up to $10,000
Retirement:
6% match for 401k
Signing Bonus:
$35,000 + $17,500 early sign on for returning interns (Canada: C$25,000) (UK: £31,500)
Tuition:
Up to $80,000 tuition reimbursement for returning interns ($50,000 after taxes)

AlixPartners MBA & PhD Full-Time Hires

Base:
$180,000
Performance Bonus:
at least $60,000 (uncapped)
Total Cash:
at least $240,000
PTO Vacation:
22 days
Relocation:
up to $5,000
Retirement:
3.75% of total comp after Year 1
Signing Bonus:
$35,000 + $10,000 for returning interns

Altman Solon MBA & PhD Full-Time Hires

Base:
$170,000
Performance Bonus:
up to $42,500
Total Cash:
up to $212,500
PTO Vacation:
25 days
Retirement:
401k match up to 5% of total comp
Signing Bonus:
$30,000

Alvarez & Marsal MBA & PhD Full-Time Hires

Base:
$175,000
Performance Bonus:
$52,500-$87,500
Total Cash:
up to $262,500
Profit Sharing:
Active after 1st year
Retirement:
6% match
Signing Bonus:
$25,000

Analysis Group MBA & PhD Full-Time Hires

Base:
$190,000
Performance Bonus:
up to $47,500
Total Cash:
up to $237,500
PTO Vacation:
15 days
Retirement:
5% match
Signing Bonus:
$45,000

Booz Allen Hamilton MBA & PhD Full-Time Hires

Base:
$130,000 (Middle East)
Fixed Allowance:
40% of base ($52,000; Middle East)
Performance Bonus:
up to $32,500 (25% of base; Middle East)
Total Cash:
up to $214,500
Raises:
$10K base salary bump after Year 1; another $10K base salary bump after Year 2 (Middle East)
Relocation:
up to $25,000 (Middle East)

ClearView Healthcare Partners MBA & PhD Full-Time Hires

Base:
$125,000
Performance Bonus:
up to $25,000
Total Cash:
up to $150,000
PTO Vacation:
15 days
Relocation:
up to $2,500
Retirement:
2.5% match of base salary
Signing Bonus:
$20,000

FTI Consulting MBA & PhD Full-Time Hires

Base:
$180,000 (FTI Delta, Dubai: $162,000)
Performance Bonus:
up to $40,250 (FTI Delta, Dubai: up to $60,000)
Total Cash:
up to $230,250
PTO Vacation:
20 days
Retirement:
$0.83 on $1 up to 6%
Signing Bonus:
$30,000 (FTI Delta, Dubai: $20,000)

Investor Group Services (IGS) MBA & PhD Full-Time Hires

Base:
$175,000
Performance Bonus:
Starting at $43,750 (no cap)
Total Cash:
$218,750+
PTO Vacation:
15 days
Signing Bonus:
$30,000

Kearney MBA & PhD Full-Time Hires

Base:
$188,000
Performance Bonus:
up to $65,800
Total Cash:
up to $253,800
PTO Vacation:
18 days
Relocation:
up to $10,000
Retirement:
3% matching on 6% contribution
Signing Bonus:
$25,000 (plus $10,000 for summer interns)

L.E.K. Consulting MBA & PhD Full-Time Hires

Base:
$185,000 (PhD: $152,500) (UK: £85,800)
Performance Bonus:
up to $25,000 (PhD: up to $18,000)
Total Cash:
up to $210,000 (PhD: up to $170,500)
Profit Sharing:
up to $42,000 (PhD: up to $34,100)
PTO Vacation:
15 days
Retirement:
5% of profit share
Signing Bonus:
$30,000 (PhD: $15,000) (UK: £5,000)
Tuition:
up to $25,000 for returning interns

OC&C Strategy Consultants MBA & PhD Full-Time Hires

Base:
$180,000
Performance Bonus:
up to $60,000
Total Cash:
up to $270,000 with incentives
Relocation:
up to $7,500
Retirement:
match up to 3.5% of salary
Signing Bonus:
$25,000

Oliver Wyman MBA & PhD Full-Time Hires

Base:
$190,000 (PhD: $125,000)
Performance Bonus:
up to $36,100 (PhD: $30,000 after first year)
Total Cash:
up to $226,100
PTO Vacation:
17 days
Retirement:
50% of 6% match, 4% contribution after first year
Signing Bonus:
$30,000 + up to $15,000 early signing

Palm Tree LLC MBA & PhD Full-Time Hires

Base:
$125,000
Performance Bonus:
up to $50,000
Total Cash:
up to $175,000

Roland Berger Strategy Consultants MBA & PhD Full-Time Hires

Base:
$160,000 (UK: £78,000)
Performance Bonus:
up to $32,000 (UK: up to £23,400)
Total Cash:
up to $192,000 (UK: up to £111,400)
Signing Bonus:
$35,000

Simon-Kucher & Partners MBA & PhD Full-Time Hires

Base:
$170,000 (PhD: $125,000)
Performance Bonus:
up to $40,800 (PhD: up to $22,500)
Total Cash:
up to $210,800
PTO Vacation:
15 days
Relocation:
up to $2,000
Signing Bonus:
up to $25,000 (PhD: up to $10,000)

Stax MBA & PhD Full-Time Hires

Base:
$150,000
Performance Bonus:
up to $37,500
Total Cash:
up to $187,500
PTO Vacation:
Unlimited
Raises:
Equity award after Manager promotion
Retirement:
4% match
Signing Bonus:
$15,000

Wavestone MBA & PhD Full-Time Hires

Base:
$150,000
Performance Bonus:
up to $12,000
Total Cash:
up to $162,000
PTO Vacation:
25 days
Relocation:
up to $5,000
Retirement:
5% 401k match
Signing Bonus:
$30,000

ZS Associates MBA & PhD Full-Time Hires

Base:
$175,000 (PhD: $117,500)
Performance Bonus:
up to $30,000 (PhD: up to $11,750)
Total Cash:
up to $205,000
Cost Of Living Adjustment:
up to $17,400
PTO Vacation:
15 days
Relocation:
up to $5,000
Signing Bonus:
$30,000 (PhD: $10,000)
Tuition:
2nd year tuition reimbursement for returning MBA interns

Other Boutique MBA & PhD Full-Time Hires

Accenture MBA & PhD Full-Time Hires

Base:
$130,000
Performance Bonus:
up to $2,600
Total Cash:
up to $132,600
PTO Vacation:
20 days
Retirement:
6% match after first year

Alexander Group MBA & PhD Full-Time Hires

Base:
$155,000
Performance Bonus:
up to $15,000
Total Cash:
up to $170,000
Signing Bonus:
up to $20,000

Bellwether Education Partners MBA & PhD Full-Time Hires

Base:
$132,000
Performance Bonus:
up to $6,563
Total Cash:
up to $138,563
PTO Vacation:
15 days
Retirement:
4% match
Signing Bonus:
$10,000

Brattle Group MBA & PhD Full-Time Hires

Base:
$142,000
Performance Bonus:
up to $42,600
Total Cash:
up to $184,600
PTO Vacation:
20 days
Signing Bonus:
$25,000

CapCo MBA & PhD Full-Time Hires

Base:
$145,000
Performance Bonus:
up to $30,000
Total Cash:
up to $175,000
PTO Vacation:
22 days
Retirement:
3% match
Signing Bonus:
up to $25,000

Capgemini Invent MBA & PhD Full-Time Hires

Base:
$155,000 (UK: £80,000)
Performance Bonus:
up to $7,750
Total Cash:
up to $162,750
Signing Bonus:
$20,000

Carpedia International MBA & PhD Full-Time Hires

Base:
up to C$99,000
Total Cash:
up to C$99,000
Base:
$115,000
Performance Bonus:
up to $24,150
Total Cash:
up to $139,150
PTO Vacation:
25 days
Relocation:
up to $5,000

CIL Management Consultants MBA & PhD Full-Time Hires

Base:
$115,000
Performance Bonus:
up to $17,250
Total Cash:
up to $132,250
PTO Vacation:
17 days
Retirement:
4.5% match

Cognizant MBA & PhD Full-Time Hires

Base:
$140,000
Performance Bonus:
up to $15,000
Total Cash:
up to $155,000
PTO Vacation:
15 days
Retirement:
50% match up to 6%
Signing Bonus:
up to $35,000

Compass Lexecon MBA & PhD Full-Time Hires

Base:
up to $160,000
Total Cash:
up to $160,000

CTG MBA & PhD Full-Time Hires

Base:
$150,000
Performance Bonus:
up to 5% of billed revenue
Total Cash:
at least $150,000
PTO Vacation:
10 days
Signing Bonus:
$10,000

DeciBio Consulting MBA & PhD Full-Time Hires

Base:
$121,000 (Expert track: $133,000)
Total Cash:
up to $121,000

Deloitte Federal MBA & PhD Full-Time Hires

Base:
$128,000
Performance Bonus:
up to $7,600
Total Cash:
up to $135,600
Signing Bonus:
$15,000

Deloitte Government & Public Services MBA & PhD Full-Time Hires

Base:
$130,000
Performance Bonus:
up to $24,700
Total Cash:
up to $154,700
Relocation:
up to $5,000
Signing Bonus:
$15,000

Deloitte Human Capital MBA & PhD Full-Time Hires

Base:
$160,000 (Canada: C$100,000)
Performance Bonus:
up to $32,200
Total Cash:
$192,200
Retirement:
1.5% match of first 6% into 401k
Signing Bonus:
Canada: C$15,000

Deloitte Tech MBA & PhD Full-Time Hires

Base:
$160,000
Total Cash:
$160,000

DGCpartners MBA & PhD Full-Time Hires

Base:
up to $180,000
Total Cash:
up to $180,000

EPAM MBA & PhD Full-Time Hires

Base:
$186,000
Total Cash:
up to $186,000
Signing Bonus:
$35,000

Eversana Consulting MBA & PhD Full-Time Hires

Total Cash:
up to $120,000

Galt & Company (AlixPartners) MBA & PhD Full-Time Hires

Base:
$180,000
Performance Bonus:
at least $60,000 (uncapped)
Total Cash:
at least $240,000

Gartner MBA & PhD Full-Time Hires

Base:
$122,727
Performance Bonus:
up to $12,273
Total Cash:
up to $135,000
Retirement:
5% match
Signing Bonus:
$10,000

GEP Worldwide MBA & PhD Full-Time Hires

Base:
$115,000
Total Cash:
up to $115,000
PTO Vacation:
18 days
Relocation:
up to $2,500
Retirement:
3% match
Signing Bonus:
$10,000

Grant Thornton MBA & PhD Full-Time Hires

Base:
$155,000
Performance Bonus:
up to $12,400
Total Cash:
up to $167,400
Signing Bonus:
$10,000

Green Hasson & Janks (GHJ) MBA & PhD Full-Time Hires

Base:
$80,000
Total Cash:
up to $80,000
Base:
Healthcare & Life Sciences: $130,000 (Defense & Security: $115,000)
Performance Bonus:
up to $13,000
Total Cash:
up to $143,000
Retirement:
3% match
Signing Bonus:
$10,000

Health Advances LLC MBA & PhD Full-Time Hires

Base:
$170,000
Performance Bonus:
up to $42,500
Total Cash:
up to $212,500
Cost Of Living Adjustment:
+10% in San Francisco
PTO Vacation:
18 days
Relocation:
up to $10,000
Retirement:
4.5% match
Signing Bonus:
$10,000
Tuition:
Eligible after one year of employment

Huron Consulting MBA & PhD Full-Time Hires

Base:
$125,000
Performance Bonus:
up to $25,000
Total Cash:
up to $150,000
PTO Vacation:
Unlimited
Retirement:
6% match
Signing Bonus:
$10,000
Base:
$165,000
Performance Bonus:
up to $16,000
Total Cash:
up to $181,000
PTO Vacation:
15 days
Relocation:
Negotiable
Retirement:
5% match
Signing Bonus:
up to $35,000

Infosys MBA & PhD Full-Time Hires

Base:
$137,500
Performance Bonus:
up to $34,375
Total Cash:
up to $171,875
PTO Vacation:
20 days
Relocation:
$3,000
Retirement:
4%
Signing Bonus:
$10,000

Innosight (Acquired by Huron) MBA & PhD Full-Time Hires

Base:
$165,000
Performance Bonus:
up to $57,750
Total Cash:
up to $222,750
PTO Vacation:
Unlimited
Relocation:
up to $10,000
Signing Bonus:
$35,000

IQVIA Consulting Services MBA & PhD Full-Time Hires

Base:
$135,000
Performance Bonus:
up to $27,000
Total Cash:
up to $162,000
PTO Vacation:
25 days
Signing Bonus:
$20,000

Kalypso MBA & PhD Full-Time Hires

Base:
$140,800
Performance Bonus:
up to $7,040
Total Cash:
up to $147,840
PTO Vacation:
15 days
Retirement:
3% match
Signing Bonus:
$20,000

Larx Advisors MBA & PhD Full-Time Hires

Base:
up to $123,625
Total Cash:
up to $123,625

Lumanity (Formerly Clarion Healthcare) MBA & PhD Full-Time Hires

Base:
$110,000 (PhD)
Performance Bonus:
up to $16,500 (PhD)
Total Cash:
up to $126,500 (PhD)
Relocation:
up to $2,500
Signing Bonus:
$10,000 (PhD)

Maine Pointe MBA & PhD Full-Time Hires

Base:
$170,000
Performance Bonus:
.5% of every project you work on
Total Cash:
at least $170,000
PTO Vacation:
29 days
Retirement:
4% after 1st year

Mars & Co MBA & PhD Full-Time Hires

Base:
$170,000 (PhD: $125,000)
Performance Bonus:
up to $34,000
Total Cash:
up to $204,000
PTO Vacation:
20 days
Relocation:
up to $5,000
Retirement:
2% match
Signing Bonus:
$20,000 (PhD: $10,000)

MasterCard Advisors MBA & PhD Full-Time Hires

Base:
$155,000 (Canada: C$125,000)
Performance Bonus:
up to $26,350
Total Cash:
up to $181,350
PTO Vacation:
20 days
Relocation:
up to $3,000
Signing Bonus:
C$20,000

Metyis MBA & PhD Full-Time Hires

Base:
£75,000
Performance Bonus:
up to £15,000
Total Cash:
up to £90,000
PTO Vacation:
25 days

Monitor Deloitte MBA & PhD Full-Time Hires

Base:
S$145,000 (Singapore)
Performance Bonus:
up to S$17,000
Total Cash:
up to S$162,000
PTO Vacation:
20 days
Retirement:
S$25,000
Signing Bonus:
S$12,000

Noblis MBA & PhD Full-Time Hires

Base:
$80,000
Total Cash:
up to $80,000
Signing Bonus:
$5,000

Partners in Performance MBA & PhD Full-Time Hires

Total Cash:
up to C$180,000

Point B MBA & PhD Full-Time Hires

Base:
$120,000
Total Cash:
up to $120,000
Signing Bonus:
$2,500

ProcureAbility MBA & PhD Full-Time Hires

Base:
$135,000
Performance Bonus:
up to $13,500
Total Cash:
up to $148,500
PTO Vacation:
20 days
Retirement:
up to 4% match

Publicis Sapient MBA & PhD Full-Time Hires

Base:
C$175,000
Performance Bonus:
up to C$35,000
Total Cash:
up to C$210,000
PTO Vacation:
15 days

Putnam MBA & PhD Full-Time Hires

Base:
$120,000 (UK: £58,000)
Performance Bonus:
up to $25,000 (UK: up to £5,800)
Total Cash:
up to $145,000
PTO Vacation:
25 days
Signing Bonus:
$10,000 (£8,000)

Slalom Consulting MBA & PhD Full-Time Hires

Base:
up to $175,000 (geo-contingent)
Total Cash:
up to $175,000
PTO Vacation:
17 days

Strategic Decisions Group (SDG) MBA & PhD Full-Time Hires

Base:
$120,000
Performance Bonus:
up to $30,000
Total Cash:
up to $150,000
Signing Bonus:
$15,000

Strive Consulting MBA & PhD Full-Time Hires

Base:
$142,000
Performance Bonus:
up to $15,000
Total Cash:
up to $157,000
PTO Vacation:
Unlimited

Tata Consultancy Services (TCS) MBA & PhD Full-Time Hires

Base:
$165,000
Performance Bonus:
up to $30,000
Total Cash:
up to $195,000
PTO Vacation:
15 days
Retirement:
3% match
Signing Bonus:
$25,000

The Chartis Group MBA & PhD Full-Time Hires

Base:
$166,400
Performance Bonus:
up to $32,000
Total Cash:
up to $198,400
PTO Vacation:
19 days
Relocation:
up to $5,000
Signing Bonus:
$25,000 ($30,000 for returning interns)

Trinity Life Sciences MBA & PhD Full-Time Hires

Base:
$125,000
Performance Bonus:
up to $25,000
Total Cash:
up to $150,000
PTO Vacation:
Unlimited
Retirement:
50% match up to 6% of salary
Signing Bonus:
$20,000

Vizient, Inc. MBA & PhD Full-Time Hires

Base:
$100,000
Performance Bonus:
up to $10,000
Total Cash:
up to $110,000
PTO Vacation:
25 days

West Monroe MBA & PhD Full-Time Hires

Base:
up to $154,000 (geo contingent)
Performance Bonus:
average 7% base salary
Total Cash:
average $164,780 (geo contingent)
PTO Vacation:
Unlimited
Signing Bonus:
$15,000 + $10,000 for returning interns
Stock:
Option to purchase shares

Wilson Perumal & Company MBA & PhD Full-Time Hires

Base:
$136,000
Performance Bonus:
up to $47,600
Total Cash:
up to $183,600
PTO Vacation:
15 days
Relocation:
up to $10,000
Retirement:
3% guaranteed, up to 6% match

World Wide Technology (WWT) MBA & PhD Full-Time Hires

Base:
$130,000
Performance Bonus:
$10,000 guaranteed
Total Cash:
up to $140,000
Signing Bonus:
$5,000

Xynteo MBA & PhD Full-Time Hires

Base:
£105,000
Performance Bonus:
up to £20,000
Total Cash:
up to £125,000
PTO Vacation:
28 days
Retirement:
8% match

Internship Salaries

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. Monthly internship salaries are typically prorated based on starting salaries for new hires. Here are 2024 internship salaries:

Undergraduate & Master’s Program Internship Salaries

  • Accenture: $32/hr + $2,000 signing bonus
  • Accenture Strategy: $32/hr ($48/hr overtime) + $2,500 signing bonus
  • Advisory Board Company: $25/hr + 1.5x overtime
  • Altman Solon: $18,000 (Singapore: S$7,500)
  • Alvarez & Marsal: $40/hour + 1.5x overtime
  • Analysis Group: $18,500 + $1,500 signing bonus
  • Bain & Company: $22,500 + up to $1,000 relocation
  • Booz Allen Hamilton: $24/hr
  • Boston Consulting Group (BCG): $21,154 + $10,000 signing bonus for returning GFL participants
  • Capital One Strategy Group: $20,384 + $3,000 signing bonus
  • Credera: $33/hr + $1,000 signing bonus
  • Deloitte Consulting: $32/hr + $5,000 signing bonus (sophomore internship)
  • Deloitte Government & Public Services: $33/hour
  • Ernst & Young (EY): $39/hr
  • EY-Parthenon: $45/hour + up to $3,000 signing bonus
  • FTI Consulting: $16,150
  • Guidehouse (formerly Navigant Consulting): $35/hr + $2,000 signing bonus (Defense & Security: $30/hr; $45/hr overtime)
  • Huron Consulting: $30/hour + $2,000 signing bonus
  • IBM Global Business Services/IBM Consulting: $25/hr (Federal Consulting)
  • Insight Sourcing (Acquired by Accenture): $16,100
  • IRI Growth Consulting: $19/hr + $1,000 signing bonus
  • Kearney: $19,230
  • Kepler Cannon: $16,000 + $2,000 signing bonus
  • KPMG: $17,000
  • L.E.K. Consulting: $18,500
  • McKinsey & Company: $21,250 (Sophomore: $8,500)
  • Mercer Management and HR Consulting: $29/hr plus $1,000 housing assistance
  • Oliver Wyman: $18,900 + $2,500 signing bonus (9 weeks)
  • Otto & Company: €12,500
  • Palm Tree LLC: $25/hr
  • PricewaterhouseCoopers (PwC): up to $41/hour + up to $3,000 signing bonus (Sophomore: $34/hr)
  • Protiviti: $32/hr + $1,000 signing bonus
  • RSM (formerly McGladrey): $37.50/hr (1.5x overtime) + $1,500 signing bonus
  • Simon-Kucher & Partners: $41/hr
  • Strategy&: $48/hour + overtime
  • West Monroe: $39/hour + $3,000 signing bonus
  • ZS Associates: $13,269 + up to $2,000 relocation bonus

MBA & PhD Program Internship Salaries

  • Accenture Strategy: $33,563 + $5,000 relocation (UK: £13,270)
  • AlixPartners: $34,000 + $3,000 signing bonus
  • Alvarez & Marsal: $33,461
  • Bain & Company: $40,000 (Canada: C$41,250)
  • Boston Consulting Group (BCG): $36,538
  • Deloitte Consulting: $33,700 + $2,500 signing bonus
  • Deloitte S&A: $30,000
  • EY-Parthenon: $28,000 + $5,000 signing bonus (8 weeks)
  • FTI Consulting: $75/hour
  • Gartner: $27,000 + $3,000 signing bonus
  • GEP Worldwide: $15,000 + $2,500 signing bonus + up to $2,500 performance bonus
  • Kearney: $36,153
  • KPMG: $66/hour ($99/hour for overtime)
  • L.E.K. Consulting: $31,950 for 9 weeks (UK: £16,500)
  • McKinsey & Company: $36,923 (UK: £16,400 + up to £5,000 relocation bonus)
  • NERA Economic Consulting: $43,250 + $1,250 bonus
  • Oliver Wyman: $32,850 + $3,000 signing bonus (9 weeks)
  • PricewaterhouseCoopers (PwC): $33,650
  • Simon-Kucher & Partners: $29,421 + up to $5,000 signing bonus (9 weeks)
  • Strategy&: $31,730 (Dubai: $27,500)
  • The Chartis Group: $32,000 + $5,000 signing bonus + $425 cell phone reimbursement
  • West Monroe: $65/hour
  • ZS Associates: $31,730 + $5,000 signing bonus + potential COL adjustment/relocation bonus
Submit Your Offer

If you have any management consulting salary data you would like to share, we would love to hear from you. You can fill out this anonymous form or send us an email. As always, your anonymity is guaranteed.

Management Consulting Salary Insights

Management Consulting Bonuses

Full-time consulting offers are nice, but bonuses have the potential to take your comp from good to great. Generally, consulting full-time hires receive signing bonuses, relocation bonuses, end-of-year performance bonuses, and more. Consulting interns are less likely to receive bonuses, although some firms do offer relocation or signing bonuses.

More firms are starting to offer returning interns a larger signing bonus than full-time counterparts who interned somewhere else. The most extravagant of these include MBA second-year tuition coverage plus signing bonuses (here’s looking at you, Deloitte).

When analyzing these bonuses, there are 5 things you should keep in mind:

  1. Value base salary more than signing and relocation bonuses. Your salary during your 2nd (and sometimes 3rd) year at the firm is often a function of your initial base salary. All else held equal, we would recommend choosing a base salary of $92,000 with a $5,000 signing bonus over base salary of $90,000 with a $7,500 signing bonus.
  2. On your offer letter, the listed maximum amount of the performance bonus typically goes to the top 5-10% of performers. Average performers often receive bonuses closer to half of the maximum amount, while poor performers typically only receive a small bonus if any. Also, firms that pay overtime may choose not to offer a performance bonus.
  3. The size of the relocation bonus is primarily driven by the distance from your university to the office location. If you live in the same city as the office, you are sometimes offered no bonus or a smaller bonus (~$2,000 in the U.S.). However, if you live in a distant state or country, you are typically offered the firm’s maximum relocation bonus amount.
  4. Relocation and signing bonuses are commonly distributed soon after signing your contract. However, they may be distributed on your start date (e.g., at IBM GBS) or given in increments over several years (e.g., L.E.K.).
  5. Bonuses are usually taxed. Uncle Sam loves your bonuses and will make sure to get his share. So don’t forget to account for taxes when planning your bonus spending (or saving). Taxes may be deducted when receiving bonus payments or they may be withdrawn from future paychecks, putting a small temporary dent in your future monthly income.

Salary Growth Along the Management Consulting Career Path

The salaries above are for full-time hires and interns coming straight from an educational program. Before deciding on a final offer, consider how your salary will grow across time. Often, our interview prep clients will receive slightly higher job offers in tech than in consulting. However, the salary growth in management consulting outpaces many industry positions. Because of that, the net income after a few years in consulting can exceed those in other industries, despite an initially lower base pay.

In top consulting firms, you can typically expect a 10-20% increase in your base pay and/or performance bonuses each year. Additionally, when promoted to the next level (usually every 2-3 years), the increase in your income is substantially larger. For instance, when promoted from Associate to Consultant at BCG, your base salary almost doubles. Here’s the potential salary growth trajectory of someone working at a top consulting firm (McKinsey, Bain, or BCG) in the U.S.:

Consultant Salary Growth Trajectory:

First-year out of Undergrad/Master’s program:
  • Base: ~$110k
  • Signing Bonus: ~$5k
  • Performance Bonus: up to ~$30k
First year out of MBA/PhD program:
  • Base: ~$190k
  • Signing Bonus: ~$35k
  • Performance Bonus: up to ~$60k
Manager/Project Leader (2-3 years out of MBA/PhD) program:
  • Base: $220-240k
  • Bonus: $100-140k
Associate Principal/Senior Project Leader (4-5 years out of MBA/PhD) program:
  • Base: $275-350k
  • Bonus: $150-250k
Junior Partner/Principal (6-8 years out of MBA/PhD) program:
  • Base: $375-450k
  • Bonus: $375-575k
Senior Partner/Director (10+ years out of MBA/PhD) program:
  • Base: $500-700k
  • Bonus: $500k+

Keep in mind that most full-time hires will not make it to Partner. Many consulting firms have an “up-or-out” promotion structure – and many consultants choose to leave. Those who perform exceptionally are given the chance to be promoted, while poor performers are encouraged to seek employment elsewhere. 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. Regardless, salary growth is substantial for each promotion you receive at a consulting firm.

Salaries When Exiting Management Consulting

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 the U.S., the average consultant who accepts an industry position receives a 12-20% increase in pay and a better work-life balance. Those entering the financial services industry receive a 30%+ increase in compensation—but work/life balance often takes a hit.

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.

Large Consultant Salary Variation Across International Offices

There is a large variation in management consulting salaries within firms across different countries. 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. Compared to the rest of the world, the United Arab Emirates, Singapore, Switzerland, and Canada also boast relatively high consultant salaries. Most surprisingly, consultant salaries in London are relatively lower given its high cost of living.

Overall, consulting salaries are competitive within their country, often offering salaries 20%+ above the average for other professional service firms. 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.

Small Consultant Salary Variation Across Domestic Offices

At McKinsey, Bain, and BCG, management consulting salaries are relatively flat across all offices within a country. This has two important implications. First, there is often little room for salary negotiation unless you are an experienced hire. Second, you can increase your take-home income by choosing an office location where the cost of living is lower (e.g. choosing Atlanta over San Francisco).

In other firms, salaries are sometimes adjusted to account for living costs. For example, a Big 4 consultant working in New York often receives a slightly higher salary than a Big 4 consultant in Dallas.

Consultant Salaries for Master’s and PhD Students

Many consulting firms offer master’s students the same positions as undergraduate students. Because of that, master’s students often receive the same compensation as undergraduates (Deloitte is a notable exception to this). However, when a master’s student applies for a relevant technical position (e.g. data scientist), they can receive more compensation than an undergraduate counterpart. Likewise, PhDs often (though not always) receive the same compensation as MBAs. This is important to note, as you should be applying for the position the firm wants to hire you for.

2024 Consultant Salary Summary

Staff compensation stayed flat across consulting firms while project rates did the same. Due to this, we draw 5 main conclusions about 2024 compensation.

  • Firms responded to weaker market demand for their services by conducting layoffs and eliminating starting salary increases. This was made possible by the commensurate slowdown in Big Tech and Finance, but also in Fortune 1000 internal strategy practices – who were also impacted by cost-cutting.
  • Growth declined, but margins did not. As project rates and salaries stayed steady while firms conducted layoffs, margins remained constant. This insulated partners from the pain that junior folks experienced and bodes well for a rebound in hiring investment in 2024.
  • Consulting firms are continuing to differentiate using comp packages as a tool. More generous profit-sharing plans and unlimited PTO are becoming more widespread, and the firms who offer these benefits have a decided advantage over those who don’t.
  • The total comp gap between the top firms and everyone else remains large. While most firms kept base salaries flat this year, the top firms (who drive outsized industry growth) still offer dramatically higher variable compensation, more generous benefits, and less travel. With more attractive comp and lifestyle perks, there may be less reasons than ever for top candidates to choose smaller firms.
  • Consultant utilization will rebound. Consultant utilization decreased from a pandemic-era peak in 2023. Due to rebounding demand and smaller headcount, we expect utilization to increase in 2024. This should lead to decreased retention and a slight increase in hiring in 2025.

Although global macroeconomic activity is projected to pick up in 2025, there are no signs that the labor market will return to a white-hot state. This will incentivize consulting firms to increase starting salaries only slightly in 2025.

Overall, consulting salaries are highly competitive compared to other industries. One notable exception is finance, where salaries are higher but work-life balance is often worse. Technology firms also compete with consulting firms for talent. They often offer higher base salaries but the roles are more siloed and the promotion trajectory is slower.

Do you have any consulting salary data or comments that you would like to share? You can fill out this anonymous form, add a comment below, or send us an email. As we attempt to provide quality compensation data to our readers, we appreciate any data that you share. As always, your anonymity is guaranteed.

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