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Depending on the stage they've reached in their careers, the average UK management consultant can expect to earn between £38,000 and £144,000 per annum – according to the 2006 Management Consultancy Salary Benchmarking Report, just published by the sector's leading website Top-Consultant.com.
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| Consulting-Times E-zine
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As the report demonstrates, annual earnings for the industry's top Partners can exceed £1/4 million, though a sizeable bonus component means this is the norm only in a more buoyant economy.
Commenting on the report findings, Top-Consultant Director Tony Restell stated:
“After a number of years in the doldrums, the consulting market has now clearly rebounded and talent shortages have become increasingly acute. For the first time since the lean years set in, consulting firms are now addressing the retention problem by raising both pay rise awards and bonus payments.”
Overall, UK consultants enjoyed pay rises of 8.8% and year-end bonus payments equivalent to 14.6% of salary this last year – whilst our US-based colleagues achieved pay rises of 7.1% and bonus payments equivalent to 10.0% of salary.
The findings within the report are based on Top-Consultant's survey of over 1,000 practising management consultants, the majority of whom work for full-service global consulting brands such as Accenture, Capgemini, Deloitte and PA Consulting – though also included were responses from consultants employed by both niche firms and top-tier strategy consultancies such as A.T.Kearney, BCG and McKinsey.
A full copy of the PDF report (450Kb) can be downloaded for free via the following link:
http://www.top-consultant.com/salary_report_2006.pdf
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