Strategy consultant salaries: Page Not Found | Glassdoor

Strategy Consultant Salary (September 2022) – Zippia

Updated August 22, 2022

$115,244yearly

To create our salary estimates, Zippia starts with data published in publicly available sources such as the U.S. Bureau of Labor Statistics (BLS), Foreign Labor Certification Data Center (FLC) Show More

$55.41 hourly

Entry level Salary

$87,000

yearly

$87,000

10 %

$115,244

Median

$151,000

90 %

How much does a Strategy Consultant make?

Strategy consultants make $115,244 per year on average, or $55.41 per hour, in the United States. Strategy consultants on the lower end of that spectrum, the bottom 10% to be exact, make roughly $87,000 a year, while the top 10% makes $151,000.

Location impacts how much a strategy consultant can expect to make. Strategy consultants make the most in Alaska, California, Washington, Massachusetts, and New Hampshire.

Highest Paying State

Alaska

Highest Paying City

San Francisco, CA

Highest Paying Company

Mayo Clinic

What Am I Worth?

Highest Paying State

Alaska

Highest Paying City

San Francisco, CA

Highest Paying Company

Mayo Clinic

What Am I Worth?

Highest Paying States For Strategy Consultants

The darker areas on the map show where strategy consultants earn the highest salaries across all 50 states.

• State View
• County View

Average Salary:

Strategy Consultant average salary by State

Rank	State	Avg. Salary	Hourly Rate	Job Count
1	Massachusetts	$128,668	$61.86	1,360
2	New Hampshire	$127,175	$61.14	247
3	California	$132,344	$63. 63	4,246
4	Washington	$129,633	$62.32	710
5	Alaska	$136,129	$65.45	71
6	Oregon	$117,472	$56.48	675
7	New York	$121,761	$58.54	1,967
8	Texas	$120,159	$57.77	2,264
9	District of Columbia	$126,230	$60.69	519
10	Pennsylvania	$114,132	$54.87	1,538
11	New Jersey	$118,334	$56.89	1,358
12	Utah	$110,110	$52.94	508
13	North Carolina	$115,118	$55.35	1,168
14	Georgia	$115,591	$55.57	1,052
15	Connecticut	$114,702	$55.15	464
16	Nevada	$112,023	$53. 86	256
17	Idaho	$110,724	$53.23	206
18	Arizona	$111,759	$53.73	639
19	Delaware	$112,912	$54.28	149
20	Illinois	$108,235	$52.04	1,839
21	Vermont	$106,479	$51.19	158
22	Rhode Island	$104,624	$50.30	305
23	Florida	$112,603	$54.14	1,632
24	Maryland	$121,904	$58.61	499
25	Virginia	$112,832	$54.25	1,241
26	Alabama	$103,249	$49.64	587
27	Louisiana	$112,425	$54.05	196
28	Montana	$104,298	$50.14	167
29	Oklahoma	$100,373	$48. 26	465
30	South Dakota	$97,515	$46.88	189
31	New Mexico	$107,646	$51.75	188
32	Ohio	$101,345	$48.72	978
33	Colorado	$111,460	$53.59	431
34	Michigan	$103,930	$49.97	599
35	Wyoming	$95,508	$45.92	81
36	Minnesota	$100,460	$48.30	828
37	Missouri	$100,333	$48.24	569
38	Tennessee	$96,777	$46.53	425
39	Mississippi	$92,086	$44.27	288
40	Hawaii	$96,134	$46.22	104
41	Maine	$97,083	$46.67	116
42	Nebraska	$93,826	$45. 11	220
43	Wisconsin	$94,271	$45.32	462
44	South Carolina	$96,996	$46.63	294
45	North Dakota	$89,308	$42.94	97
46	West Virginia	$88,682	$42.64	125
47	Arkansas	$86,627	$41.65	241
48	Kansas	$86,398	$41.54	281
49	Iowa	$88,328	$42.47	264
50	Kentucky	$86,532	$41.60	267
51	Indiana	$86,316	$41.50	466

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Highest Paying Cities For Strategy Consultants

Rank	City	Avg. Salary	Hourly Rate
1	San Francisco, CA	$140,688	$67.64
2	Seattle, WA	$129,682	$62.35
3	Boston, MA	$128,837	$61.94
4	Washington, DC	$126,314	$60.73
5	Baltimore, MD	$122,282	$58.79
6	New York, NY	$121,911	$58.61
7	Austin, TX	$120,577	$57.97
8	Jersey City, NJ	$118,531	$56.99
9	Columbus, GA	$116,436	$55.98
10	Portland, OR	$115,982	$55.76
11	Raleigh, NC	$115,823	$55.68
12	Hartford, CT	$115,028	$55.30
13	Philadelphia, PA	$114,776	$55.18
14	Arlington, VA	$113,917	$54. 77
15	Tampa, FL	$112,819	$54.24

Strategy Consultant Salary Details

Average Strategy Consultant Salary Graph, Trends, and Summary

What is a Strategy Consultant’s Salary?

Average Salary By Related Titles

Job Title	Annual Salary	Monthly Salary	Hourly Rate	Job Openings
Manager, Strategy	$109,831	$9,153	$52. 80	148,326
Business Development Consultant	$85,153	$7,096	$40.94	168,111
Program Management Consultant	$101,157	$8,430	$48.63	177,578
Management Consultant	$99,360	$8,280	$47.77	153,045
Business Consultant	$87,214	$7,268	$41.93	128,033
Small Business Consultant	$47,982	$3,999	$23.07	116,476

Here are the five companies hiring the most now:

1. ZS Jobs (39)
2. Microsoft Jobs (65)
3. Dell Jobs (9)
4. Kaiser Permanente Jobs (12)
5. Cisco Jobs (9)

Which Companies Pay Strategy Consultants The Most?

The highest paying companies for strategy consultants are Mayo Clinic and Google according to our most recent salary estimates. In addition, companies like ZS and McChrystal Group report highly competitive wages for strategy consultants.

How Much Do Strategy Consultants Make In Different Industries?

Here are some examples of how much a strategy consultant salaries can based on different industries:

1. The finance industry pays strategy consultants an average salary of $114,533

2. The health care industry pay $112,398

3. The lowest paying industry for strategy consultants is the professional industry. Strategy consultants in this industry earn an average salary of $104,342

Highest Paying Industries For Strategy Consultants

High Paying Strategy Consultant Jobs

Strategy Consultant Salary Trends

The salary for a strategy consultant can vary depending on the years of experience that a person has, from entry level to senior level. Data on how experience level affects total compensation is provided by the Bureau of Labor Statistics (BLS) as part of their National Compensation Survey, which is based on factors such as knowledge, complexity, contacts, and environment.

Entry Level

Senior Level

Average Strategy Consultant Salary Over Time

Compare salaries for individual cities or states with the national average.

Recently Added Strategy Consultant Salaries

Strategy Consultant Salaries FAQs

What state pays Strategy Consultants the most?

Alaska pays Strategy Consultants the most in the United States, with an average salary of $136,129 per year, or $65.45 per hour.

How do I know if I’m being paid fairly as a Strategy Consultant?

You know if you are being paid fairly as a Strategy Consultant if your pay is close to the average pay for the state you live in. For example, if you live in California you should be paid close to $132,344 per year.

What type of Strategy Consultant gets paid the most?

Executive Consultant gets paid the most. Executive Consultant made a median salary of $131,331. The best-paid 10 percent make $159,000, while the lowest-paid 10 percent make $107,000.

Have more questions? See all answers to common business and financial questions.

Search For Strategy Consultant Jobs

Updated August 22, 2022

Management Consulting Salaries (2022)

The Consultant Salary Guide is the latest information on management consulting salaries for 2022. Consultant salaries will vary by position and experience. Starting from the base, fresh graduates (from undergrad institutions) earn an average base pay of $83,500 from top-tier consulting firms. Their performance bonuses range between $12,000-$18,000, with a signing bonus of $5,000.

For entry-level hires salaries are about $83,500 on average at the top tier firms. Performance bonuses are about $15,775 on average, with a $5,000 signing bonus.

Salaries for MBA hires (and consultants with a few years’ experience) are about $149,000 on average at top tier firms. These hires can earn a performance bonus of about $37,000 on average, with a $25,000 signing bonus.

For project leaders, salaries are about $175,000 on average at top tier firms. They also earn performance bonuses of up to $80,000 and profit-sharing opportunities of $28,000-$30,000. These consultants take home a total amount of $250,000- $300,000.

There are also higher-level salaries for top consultants in these firms.  When you get to this level, you essentially become a shareholder/partner in the firm. Base salaries for high-level personnel range between $570,000-$1,000,000, with performance bonuses of up to$300,000 varying by firm.

Here’s a breakdown of salaries for management consultants according to the top three consulting firms.

Undergraduate Salaries (Entry-level)

For new college graduates entering management consulting the top three consulting firms salaries breakdown is below:

McKinsey:

• Base Salary: $83,000
• Performance Bonus: $18,000 max
• Signing Bonus: $5,000
• Relocation Assistance: $2,000- $10,000

Total: $108,000-$116,000

Bain:

• Base Salary: $83,500
• Performance Bonus: $12,525 max
• Signing Bonus: $5,000
• Relocation Assistance: $2,000-$8,000

Total: $103,025–$109,025

BCG:

• Base Salary: $84,000
• Performance Bonus: $16,800 max
• Signing Bonus: $5,000
• Relocation Assistance: $2,000-$8,000

Total: $107,800-$113,800

MBA Salaries (and Experienced Consultants)

For candidates being hired with experience or directly from MBA programs, the starting salary is more competitive. These top three firms only hire the most competitive candidates from the most prestigious MBA programs.

McKinsey:

• Base Salary: $152,500
• Performance Bonus: $35,000 max
• Signing Bonus: $25,000
• Relocation Assistance: $2,000-$9,000

Total: $215,500-$222,500

Bain:

• Base Salary: $148,000
• Performance Bonus: $37,000 max
• Signing Bonus: $25,000
• Relocation Assistance: $5,000 max

Total: $215,000

BCG:

• Base Salary: $147,000
• Performance Bonus: $44,100 max
• Signing Bonus: $30,000
• Relocation Assistance: $2,000 – $8,000

Total: $223,100-$229,100

Other Consulting Firms Salaries

While Bain, BCG, and McKinsey offer the most competitive consultant salaries in the market currently, salaries offered at less prestigious firms are still very good. Here are a few of these firms:

Deloitte

The base salary for a consultant is about $88,000, with a performance bonus of $13,000. Consultants can also receive a signing bonus of $12,500. Total Salary: $113,500

MBA associates receive about $145,000 as a base salary, with a performance bonus of $31,900. They can also expect a signing bonus of $25,000.Total MBA Salary: $201,900

Accenture

Accenture has been growing in popularity during recent years. Their emphasis on technology, cost-cutting, and effectively managing operations has led to better consultant pay over time.

Consultants at Accenture can expect a base salary as high as $85,000. This is often accompanied with a performance bonus of $8,500 and a signing bonus of $10,000. Total salary $103,500.

For MBA associates, the base salary is about $147,500, with a performance bonus of $44,000and a signing bonus of $25,000. Total MBA salary $216,500.

FTI Consulting

Entry-level consultants earn $68,000 as a base salary, with a $10,000 performance bonus. Total salary $78,000.

MBA hires earn a base salary of $120,000, with a $30,000 max performance bonus and a $20,000 signing bonus.Total MBA Salary $170,000.

PricewaterhouseCoopers

Entry-level consultants earn a base salary of $72,000, with a $10,00 performance bonus. Total salary $82,000.

MBA hires earn $135,000 -$140,000, with a max $27,000 performance bonus and a $25,000 signing bonus.Total MBA salary $187,000-$192,000.

Why Management Consultant Pay is Competitive

The role of a management consultant is important to many businesses. Consultants help clients solve complex problems that may be impeding growth and limiting their bottom line. In addition to their significant role, why do consultants receive competitive pay? The simple answer is that they’ve cultivated professional relationships with clients. Corporate executives trust and have confidence in a particular consulting firm or even in a particular consultant.

Management consulting firms also rely on junior associates to do a large portion of the work. Junior consultants (recent college or MBA programs) fuel the collection and analysis of data. Project leaders and partners mainly oversee these operations and interpret the data to provide solutions to clients.

So, consulting firms seek out the best and brightest minds from colleges and business schools. They desire applicants who have tangible experience on their resume, with specific and quantifiable goals. Some consulting firms recruit individuals quite early. They may offer summer internships with a pay of about $10,000 a month for candidates from top schools.

Here are some of the top MBA programs that consulting firms recruit from, and the first-year consulting salary figures associated with these MBA programs. These figures include salary and bonuses.

• Wharton MBA: $132,500
• Harvard MBA: $131,759
• Tuck MBA: $128,000
• MIT MBA: $125,905
• Columbia MBA: $123,486

For recent graduates of undergraduate business programs, the pay offered by top consulting firms is also quite competitive. While most business graduates earn an average of $48,144 (according to the National Association of Colleges and Employers), consulting firms often start these new recruits off with $70,000 and above. However, only students of top talent within these programs are recruited.

Here are first year consulting salaries offered to recruits from top undergraduate institutions.

• University of Pennsylvania (Wharton Business School)

Undergrads earn an average of $70,000.

• MIT (Sloan School of Business)

MIT grads from Sloan earn an average of $65,000.

• Michigan (Ross)

Michigan grads earn an average of $60,000.

• NYU (Stern)

NYU undergrads earn an average of $58,000.

• Washington University (Olin)

Washington grads from Olin also earn an average of $58,000 when they enter the industry.

The competitive pay of new recruits stems from their ability to present information, knowledge, and advice because management consults essentially sell information and advice to clients. A big part of the success of consulting firms is presenting this knowledge in a confident and digestible manner.

Consulting firms prioritize critical thinking and presentation skills in young recruits. Recruits are often expected to mold a specific way of approaching problems and implementing solutions. If you have developed these skills as a new recruit, your chances of excelling within the firm are quite favorable.

Different Types of Management Consultants

The key to helping businesses grow is to take a very specific problem-solving approach. So, consultants not only pursue a well-defined problem-solving strategy, but they also segment the consulting industry into several specific areas.

With more specific categories, management consultants can address client challenges that impede growth more thoroughly. There may be slight variations in the pay offered within each subset of management consulting. Let’s look at each category in more detail.

Strategy Consulting

Strategy consultants provide advice regarding how businesses can adapt their general strategy towards growth. They may advise a business on how to penetrate a new market or how to plan for relocation. They may also provide advice regarding new product launches, pricing, market differentiation, etc.

Strategy consultants typically earn a base salary between $70,000-$100,000 at the entry level. MBA grads earn $150,000 while project leaders in strategy consulting earn $175,000.

Information Technology Consulting

Information Technology consultants have become important assets for consulting firms. Because they provide much-needed technology solutions to businesses, they enable such clients to realize growth, operational efficiency, and increased profits. Information Technology consultants are often conversant with a wide variety of technologies, including data security systems and Enterprise resource planning systems.

Most Information Technology consultants start off with an average base salary of $75,000 for entry-level positions in lower-tier firms. In the top three firms, Information Technology consultants start off with $85,000-$90,000 as a base salary. MBA recruits and experienced Information Technology consultants earn $150,000 on average, while project leaders earn a base salary between $175,000-$180,000.

Human Resource Consulting

Human Resource consultants provide important advice regarding personnel management. They help clients establish employee programs, recruit top talent, and even establish appropriate retirement plans. The role of Human Resource consultant has grown significantly because more businesses are seeking to get the most productivity out of their personnel. Poor employee management can prove costly to any business. Human Resourceconsultants help address challenges within this area.

As a new Human Resource consultant, you can expect to earn an average of $79,390 as a base salary from second-tier consulting firms.

Risk Consulting

Risk consultants have a primary role of identifying loss exposures and proposing appropriate mitigation steps. The risk may be from workers’ compensation claims, unsuccessful investment decisions, or non-Hcompliance penalties. Because businesses face a wide variety of risks, these consultants come in handy to establish effective mitigation steps in the event of a risky situation.

The important role of risk consultant earns higher average salaries, with an average base salary of $91,800 offered by second-tier consulting firms. Project managers in risk consulting earn a base pay of $140,000-$150,000 within similar firms.

Financial Consulting

Financial consultants tackle challenges related to accounting practices, risk management, taxes, and other money matters. They help clients streamline their monetary operations in different contexts. In most cases, financial consultants fall under larger audit firms. They use a combination of data, industry experience, and research to propose more effective financial plans for clients.

Most mid-tier consulting firms pay a salary between $65,000-$70,000 for entry-level financial consultants. Senior financial consultants at these firms earn a salary of $112,000-$120,000. In the top three consulting firms, you can expect to earn $80,000 as an entry level salary, and $149,500 as a project manager salary.

Planning Your Career Path

In management consulting, your annual compensation will rise as you become more experienced. This means that there are multiple opportunities for growth within your career path. Your choice in career path will determine how you grow, both professionally and financially.

The Entry Level

If you’re an entry-level consultant hired from an undergrad or MBA program, you can expect to spend about two years within a specific pay scale before you get a review for a raise.

During your first two years, you’ll work on a variety of consulting projects in many different areas (e.g. financial consulting, HR, strategy consulting). This will give you an overview of the consulting landscape before you begin to specialize in a chosen category.

Your early experiences will largely involve taking specific approaches to solve client problems. These fundamentals will serve as the basis of your growth within the field.

Senior Consultant

After your entry-level years, you may be promoted to a senior consultant. Senior consultants play a more important oversight role within projects. In this stage, you’ll grow your network among client organizations.

Depending on the performance of projects that you’re a part of, performance bonuses will continue to grow. Most performance bonuses range between 25%- 30% of your base salary.

Project Manager

From a senior consultant, you can become a project manager. Project managers are responsible for overseeing client projects and making critical decisions regarding the approach that junior consultants should take.

At this point, your base salary will range between $145,000-$150,000 in top consulting firms and $120,000-$135,000 in lower-tier firms. Most project managers are industry veterans with years of experience and an in-depth knowledge of problem-solving skills.

Partner/Shareholder

Project managers may become shareholders or partners of a consulting firm. At this level, you will most likely own a portion of the firm’s stock. Therefore, the performance of your entire firm will directly determine how much you can make within a specific timeframe. You may also receive bonuses from the projects that you participate in as a shareholder/partner.

Conclusion

I hope this article gives you a solid understanding of what you can expect to make as a management consultant. Remember that the pay varies by firm, your level of expertise, and your performance on the job. While management consulting pay is lucrative, it’s performance-based. Your efforts on the job will directly determine how much you can take home at the end of the day.

When you are looking at competing offers or considering which firm to pursue, look at all income factors and not just the base salary. Compensation can also include bonuses, retirement planning, profit-sharing, etc. If you’re not a top performer yet, maybe look for a more consistent salary. If you do consider yourself to be a top performer, don’t be concerned about a small difference in base salary. Which income factors are most important to you? Comment below with your thoughts.

Strategy Consultant Salary Baltimore, Maryland, United States

Average Base Salary

Average Hourly Rate

$58.45 (USD)/hr

Average Bonus

$6,031 (USD)/yr

Compensation Data Based on Experience

The average strategy consultant gross salary in Baltimore, Maryland is $121,584 or an equivalent hourly rate of $58. This is 5% higher (+$6,114) than the average strategy consultant salary in the United States. In addition, they earn an average bonus of $6,031. Salary estimates based on salary survey data collected directly from employers and anonymous employees in Baltimore, Maryland. An entry level strategy consultant (1-3 years of experience) earns an average salary of $85,099. On the other end, a senior level strategy consultant (8+ years of experience) earns an average salary of $151,026.

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Estimated Salary in 2027:

$135,560 (USD)

5 Year Change:

11 %

Based on our compensation data, the estimated salary potential for Strategy Consultant will increase 11 % over 5 years.

This chart displays the highest level of education for:
Strategy Consultant, the majority at 100% with bachelors.

Typical Field of Study: Business Administration and Management

See how education can impact your salary

• Baltimore

  
  
  0 %

• Nashville

  
  
  13. 4 %

• Portland

  
  
  2.6 %

• Colorado

  
  
  3.6 %

• Guam

  
  
  22. 8 %

• Michigan

  
  
  4.8 %

• Bahamas

  
  
  57.7 %

• France

  
  
  71. 9 %

• India

  
  
  527.8 %

• Indonesia

  
  
  375.9 %

• South Africa

  
  
  163. 1 %

• Sweden

  
  
  92.3 %

Baltimore, Maryland

The cost of living in Baltimore, Maryland is 28% more than the average cost of living in the United States. Cost of living is calculated based on accumulating the cost of food, transportation, health services, rent, utilities, taxes, and miscellaneous.

View Cost of Living Page

Baltimore ( BAWL-tim-or, locally: bawl-da-MOR or BAWL-mər) is the most populous city in the U.S. state of Maryland, fourth most populous city in the Mid-Atlantic, and the 30th most populous city in the United States with a population of 585,708 in 2020. Baltimore was designated an independent city by the Constitution of Maryland in 1851, and today is the most populous independent city in the United States. As of 2021, the population of the Baltimore metropolitan area was estimated to be 2,838,327…

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City, State, Country or US Zip Code

This page is a promotion for SalaryExpert’s Assessor Series and is not intended for professional use.

Professionals should subscribe to SalaryExpert’s Assessor Platform.

ERI’s compensation data are based on salary surveys conducted and researched by ERI. Cost of labor data in the Assessor Series are based on actual housing sales data from commercially available sources, plus rental rates, gasoline prices, consumables, medical care premium costs, property taxes, effective income tax rates, etc.

• Baltimore

  
  
  0 %

• Nashville

  
  
  13. 4 %

• Portland

  
  
  2.6 %

• Colorado

  
  
  3.6 %

• Guam

  
  
  22. 8 %

• Michigan

  
  
  4.8 %

• Bahamas

  
  
  57.7 %

• France

  
  
  71. 9 %

• India

  
  
  527.8 %

• Indonesia

  
  
  375.9 %

• South Africa

  
  
  163. 1 %

• Sweden

  
  
  92.3 %

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Navigate market uncertainty with validated, always-on compensation data from multiple sources delivered transparently through our trusted data platform Keep in mind that salary ranges can vary widely depending on many important factors, including position, education, certifications, additional skills, and the number The average Consultant salary in the United States is $103,707 as of August 29, 2022. According to Swiss Re, of the $6.287 trillion of global direct premiums written worldwide in 2020, $2.530 trillion (40.3%) were written in the United States.. Insurance, generally, is a contract in which the insurer agrees to compensate or indemnify Click here to apply for your new Scientific Strategy Lead, Medical Communications, UK job. Workplace Strategy Consultant, Healthcare Strategy Consultant, Data Strategy Consultant. 166 Legal Nurse Consultant jobs available on Indeed.com. Increments are usually paid for examination success. 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Breaking news, local reporting, and expert insights on the business of healthcare in Dallas and North Texas. 5,282 Healthcare Consultant jobs available on Indeed.com. A management consultant works with leaders and teams to find and address large business problems. Medical Courier Service. We also explain what to expect from a typical MBA Annual salary: $115,000 (Source: HIMSS 2020 Nursing Informatics Workforce Survey) The nurse informaticist functions as a knowledgeable practitioner, consultant, educator and evaluator who helps to maintain and improve system services and to mentor clinician users to become better technology consumers. BCG Consultant Salary. The skills required to operate successfully as a consultant take years to garner, and an individual working at an entry-level marketing job will, of course, make less than one who has a significant amount of work experience. In this role, the sales consultant develops well-researched strategies to increase sales and generate more revenue. Earn a Healthcare Administration doctorate at Franklin. Salary: $52,464 per year (source: ZipRecruiter) Wage: $14 to $29 an hour (source: ZipRecruiter) Video Labour College Mid-Career Median Salary: $90,800 Labour College is a private college specializing in nursing and healthcare education with a Catholic heritage in Milton, Massachusetts. With access to more than 1,000 sessions and workshops, youre in for fun, learning, and inspiration. Scientific Strategy Lead, Medical Communications, UK job from PMLiVE. Visit PayScale to research software developer salaries by city, experience, skill, employer and more. Due to an aging population and higher demand for healthcare, these positions are popping up all over the country. Review patient medication profile review (allergy, drug interaction screens etc.) A management consultant often works for a consulting firm. The range for our most popular Consultant positions (listed below) typically falls between $61,737 and $145,676. Management Consultant Job Description. At BCG, Consultant is the title for new hires who hold an advanced degree (MBA, PhD, JD, MD, etc.). Insurance in the United States refers to the market for risk in the United States, the world’s largest insurance market by premium volume. American Family News (formerly One News Now) offers news on current events from an evangelical Christian perspective. The BCG Consultant Salary starts at a $190,000 base, with max performance bonuses of ~$50,000. In this role, the sales consultant develops well-researched strategies to increase sales and generate more revenue. Strategy consultants give strategic advice to companies on a project-by-project basis e.g. This low-cost startup is an attractive option for those who are organized, responsible, and have a reliable vehicle. We believe in developing open, honest and ethical relationships built on integrity, trust and thought leadership. 100% money-back guarantee. Responsibilities . Our experienced journalists want to glorify God in what we do. Although becoming a healthcare consultant takes years of education, time, and skill development, its a position thats crucial to the success of healthcare organizations across the globe. Management Consultant. Get 247 customer support help when you place a homework help service order with us. Healthcare Business Ideas 77. The NHS provides the majority of healthcare in England, including primary care, in-patient care, long-term healthcare, ophthalmology and dentistry. A management consultant often works for a consulting firm. in organisational restructuring, talent Management Consultant. Salary Search: Healthcare Compliance Investigator onboarding includes training on our internal systems and software as well as an introduction to legal theory and case strategy. We will guide you on how to place your essay help, proofreading and editing your draft fixing the grammar, spelling, or formatting of your paper easily and cheaply. The most paid careers are Architect Constructions with average income $170,045 USD and UK HealthCare Career Center Waller Healthcare Annex, Suite 108 115 Waller Avenue Lexington KY 40508 Starting salaries for graduate actuaries are generally between 25,000 and 35,000. Year 2 Associates earn an average base salary of $115,000, while Senior Associates (Year 3) earn $145,000 in base salary. Nonprofit, accredited & built for busy adults. The average salary for a SAP Consultant in India is 677,023. Following its 2021 acquisition of Narrative Science, data storytelling — along with cloud capabilities — will be prominent when the vendor hosts its upcoming user conference. Industry-leading HCP Digital Engagement Solutions fueling Programmatic, Email, Social Media, and Advanced TV advertising campaigns. Salary. It examines emerging IT strategy and management issues such as hyper-automation, AI, cybersecurity mesh, anywhere operations, and the internet of behaviors. Salaries are different between men and women. Visit PayScale to research sap consultant salaries by city, experience, skill, employer and more. Fri May 13, 2022. new market entry, long-range planning and rationalisation of goods and services. The 2022 average Help Desk Manager salary in the US is $104,828. The Physics Department at Hamilton College invites applications for two tenure-track positions at the rank of Assistant Professor beginning July 1, 2023. Determining the management consultant salary you can expect to receive, or more narrowly, a strategy consultant salary, is probably one of the defining factors in deciding which firms you will apply to. The Bureau of Labor Statistics (BLS) projects faster-than-average growth for healthcare management occupations from 2019-2029, driven by the aging of the baby-boomer population and increased use of electronic health records.. A basic, starting trainee recruitment consultant salary can be low: an average of 16,600 to 20,000 as of early 2018. The National Health Service Act 1946 came into effect on 5 July 1948. In 2002 the mean monthly salary was 261 pesos, 1.5 times the national Cuba: plenty of care, few condoms, no corruption. This guide includes a list of online MBA in healthcare management rankings. Skip to content. Men receive an average salary of $99,226 USD.Women receive a salary of $61,116 USD.. Weve worked with businesses large and small across a range of industries, including education, finance, tech, healthcare, media, and non-profit. For those organizations who are providing salary increases, the headline figures are lower than this time last year. Lets Make Dallas Even Better. UK HealthCare Career Center Waller Healthcare Annex, Suite 108 115 Waller Avenue Lexington KY 40508 Call 859-323-3169 Email [email protected] Schedule an appointment with me via Calendly. A free inside look at Rockstar Games salary trends based on 361 salaries wages for 194 jobs at Rockstar Games. The average salary for a Software Developer in India is 545,404. The most typical earning is $52,013 USD.All data are based on 455 salary surveys. Get a free salary report today. In the healthcare world, theres a huge demand for well-trained individuals to join the staff at hospitals, clinics, and outpatient centers. Chief Technology Officer – CTO: A chief technology officer is an executive who is responsible for the management of an organization’s research and development (R&D) and technological needs. Recruitment consultant salary. Expected salary increases are 2.5% for North America, 2.1% for Western Europe, and 2.0% for the Pacific, representing a decrease in year-on-year headline increases of 0.3%, 0.4% and 0.5% respectively. Management Consultant Job Description. life, healthcare and general insurance; pensions. With our money back guarantee, our customers have the right to request and get a refund at any stage of their order in case something goes wrong. Thankfully, you dont have to spend years in school to earn a great salary. A management consultant works with leaders and teams to find and address large business problems. Human resource consultants offer specialist HR advice, e.g. How much does a Help Desk Manager make near you? A couple of years experience lifts this to 20,000 to 30,000, while senior recruitment consultants and Data storytelling, cloud in focus at Tableau Conference ’22 . Mailing Address. searchCIO : CIO strategy. San Jose woman’s nonprofit gives foster youth path to academic success Nationwide, about half of all foster kids drop out of high school and fewer than 3% make it through four years of college. Couriers make an average of $36 an hour or over $70,000 a year. Apply to Healthcare Consultant, Clinical Consultant, Senior Implementation Consultant and more! All non-profits receive a 20% discount for working with us. As a newly qualified actuarial analyst or consultant, you can expect to earn in the region of 40,000 and 55,000. Tuesday, September 13, 2022 Sep 13, 2022. Manages patients in the ICU, SICU and CVICU.

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Consulting Salaries For MBA & Master’s Graduates

What salary can you earn at top consulting firms like Deloitte, Bain, BCG & McKinsey? Find out in our breakdown of consulting salaries for MBA and master’s graduates

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Consulting Salaries | What do MBAs and master’s grads earn at Deloitte, Bain, BCG & McKinsey? ©VladZymovin

From the Big Three management consulting firms—Bain, BCG, and McKinsey—to the likes of Deloitte, EY, and KPMG, consulting companies are among the largest recruiters of MBA and business master’s graduates, offering impressive six-figure salaries.

This looks likely to continue in 2022 as many firms, including the Big Three, have increased MBA consulting salaries. That follows a rise in global demand for consultancy services which saw companies across the industry report record revenues in 2021. 

McKinsey & Company, which offers the highest overall compensation package among the Big Three, offers base salaries of around $175,000 per annum and performance bonuses of up to $45,000 to MBA graduates.

While pursuing an MBA or master’s program comes at a significant cost, if you’re considering a consulting career after business school you’ll likely make a swift return on your investment.

Here, we roundup the headline stats for consulting salaries for MBA and master’s graduates at some of the world’s biggest consulting firms, from Management Consulted’s 2022 Consulting Salary Report. 

You can find out more information about the specific consulting firms by clicking through to the links below.

The Big Three

Bain & Company

Bain consultant salary prospects are very promising for MBA graduates. The Big Three, also known as MBB, all offer base consultant salaries of $175,000 with Bain offering performance bonuses of over $40,000 and a signing bonus of $30,000.

Master’s degree graduates can expect to earn around $100,000 with performance bonuses of over $22,000. Signing bonuses for Bain master’s-level recruits are $5,000.

Bain is ranked the world’s best consulting firm to work for based on its strong compensation as well as other benefits like work-life balance.

Boston Consulting Group (BCG)

BCG consultant salaries and bonuses are almost identical to those at Bain. BCG consultant salary prospects are $175,000 for MBA graduates and $100,000 for master’s graduates.

BCG offers less PTO (vacation) than Bain and McKinsey, offering 15 days per year compared with 20 and 19 days respectively. Master’s grads at BCG earn up to $25,000 in performance bonuses.

McKinsey & Company

McKinsey MBA consultants earn $175,000 in base salary with performance bonuses of up to $45,000. McKinsey also offers 50% off second year MBA tuition for returning interns.

A McKinsey consultant salary for master’s graduates comes in at $100,000 with performance bonuses of up to $30,000.

Like any consulting firm, salaries at McKinsey increase as consultants go up the ranks from junior associate to associate to partner.

The Big Four

Deloitte

MBA salaries for the Big Four accounting and professional services firms are increasingly competitive and Deloitte consultant salary prospects are no different

Deloitte Consulting offers MBA graduates base salaries of up to $135,000; Deloitte Federal $128,000; Deloitte Government & Public Services $117,000. MBA consultants at Deloitte Human Capital and Deloitte Tech earn $160,000.

Performance bonuses for MBAs vary across the organization but those at Deloitte Consulting can see bonuses up to $25,650, and Deloitte Human Capital consultants can expect to supplement their salary with bonuses of up to $32,200.

Master’s level consultants earn base salaries of up to $105,000 at Deloitte Consulting and around $26,000 in performance bonuses.

Ernst & Young (EY)

EY offers the best consultant salaries among the Big Four accounting and professional services firms. MBA consultants at EY can expect base consulting salaries of $165,000. 

EY-Parthenon, which focuses on strategy consulting, offers MBA hires $175,000 in base salary, one of the highest salary figures on the market.

The EY consultant salary for master’s level graduates is $80,000 while master’s grads can earn $90,000 at EY-Parthenon, which also tends to recruit mostly from top-ranked business schools.

Read: EY’s Chief Recruiter Tells You How To Get Hired

KPMG

KPMG offers MBA consultants $145,000 in base salary and performance bonuses of up to $17,400 as well as a signing bonus of up to $35,000,

Master’s-level graduates earn $77,000 per year and can expect a signing bonus up to $7,500.

PricewaterhouseCoopers (PwC)

PwC MBA consultants earn base salaries of $165,000 on joining the firm and up to $40,000 in performance bonuses. MBA consultants hired by Strategy&, the global strategy consulting team at PwC, get paid an impressive $175,000 base salary.

Master’s graduates at PwC earn a base salary of $83,000, with a signing bonus of $5,000. 

Visit ManagementConsulted for extended salary data

More top consulting salaries

While the Big Three and Big Four firms tend to offer the most attractive salaries for new MBA and master’s-level hires, there are many other consulting firms with attractive compensation packages.

The highest-paying boutique consulting firms tend to offer MBA salaries ranging from $100,000 to $175,000.

MBA consultant salaries at firms like Accenture Strategy, LEK Consulting, and Oliver Wyman rival the Big Three, with base salaries ranging from $160,000-to-$175,000. Kearney offers MBA grads $168,000 in base salary.  

Consulting salaries for master’s graduates at these firms are also high with base salaries ranging from $80-to-$100,000.

Other boutique consulting firms, including big-names like Infosys and Grant Thornton, are also increasingly popular. 

Getting a job in consulting is no easy feat. Going to business school can provide you with the knowledge, network, and connections with top employers that you need to send you on the right path.

If you’re considering an MBA to transition into consulting, download our free BusinessBecause MBA Application Guide 2021-22 to help you on your journey.

The salary figures in this article are for those joining management consulting positions in 2022. The data was sourced by ManagementConsulted from interview prep clients who received written job offers. 

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Strategic Planning Consultant Salary: What You’ll Make and Why

According to various salary aggregate websites, a strategic planning consultant’s salary in the US ranges between $64,508 and $115,255, with an average salary of $94,783. As of July 2022, the base salaries for strategic planning consultants are listed as follows:

Keep in mind: Salary aggregate websites typically rely on data submitted anonymously by individuals using their site. Some websites may have received larger amounts of data of either higher or lower than average salaries, which may affect the site’s calculated average.

Read more: What Is a Strategic Planning Consultant? How to Become One

What influences a salary?

The salary of a Strategic Planning Consultant is determined by a number of factors, including education, experience, and job location. In this article, we will take a closer look at how these factors impact salary.

Years of experience

Salary increases are generally tied to your experience level. In general, the more years you spend working as a strategic planning consultant, the more you can expect to earn. Here’s how experience can impact your strategic planning consultant salary, according to the Bureau of Labor Statistics and the National Compensation Survey.

Location

Where you live can also impact how much you can make as a strategic planning consultant. Typically, working in a large metropolitan area correlates to a higher salary, as well as a higher cost of living.

Here is a list of some major cities with their corresponding average strategic planning consultant salary according to the Bureau of Labor Statistics.

How does this compare to similar jobs?

Here’s how a strategic planning consultant’s salary stacks up against similar jobs.

How to increase your strategic planning consultant salary

Now that you have a better idea of what you could expect to earn as a strategic planning consultant, let’s look at ways to boost your salary.

1. Strengthen your skills

Pursuing and improving in-demand skills could make you more competitive for promotions and higher-paying positions. These skills include:

• Facilitation: Lead groups in brainstorming sessions and other exercises to generate ideas and come to consensus
• SWOT Analysis: Conduct analyses of Strengths, Weaknesses, Opportunities, and Threats to inform strategic planning
• Goal Setting: Work with clients to identify long-term goals and objectives and create actionable plans to achieve them
• Project Management: Manage complex projects with multiple stakeholders, timelines, and deliverables
• Change Management: Understand how to manage organizational change and help clients navigate transition periods

2. Seek regular feedback

In order to improve your salary as a strategic planning consultant, it’s important to seek regular feedback from your clients. This feedback can help you identify areas where you need to improve, and also help you demonstrate the value you bring to the table. Additionally, keeping up with industry news and trends can help you position yourself as an expert in your field, which can lead to higher salaries.

3. Get a good performance review

One of the best ways to increase your salary is to get a good performance review. If you can demonstrate that you have added value to your company, you will be in a much stronger position to negotiate a raise. In addition, try to get your review early in the year, so that you have more time to negotiate before your next review.

Article Sources

1. US Bureau of Labor Statistics. “National Compensation Survey, https://www.bls.gov/ncs/.” Accessed July 2, 2022.

2. US Bureau of Labor Statistics. “Occupational Employment and Wages, https://www.bls.gov/oes/current/oes131111.htm.” Accessed July 2, 2022.

3. Payscale. “Strategic Planning Consultant Salary, https://www. payscale.com/research/US/Job=Strategic_Planning_Consultant/Salary.” Accessed July 2, 2022.

4. Ziprecruiter. “Strategic Planning Consultant Annual Salary, https://www.ziprecruiter.com/Salaries/Strategic-Planning-Consultant-Salary.” Accessed July 2, 2022.

5. Indeed. “Indeed Salary Finder, https://www.indeed.com/career/salaries.” Accessed July 2, 2022.

6. Salary.com. “Strategic Planning Consultant Salary, https://www.salary.com/research/salary/recruiting/strategic-planning-consultant-salary.” Accessed July 2, 2022.

7. Glassdoor. “Strategic Planning Consultant Salaries, https://www.glassdoor.com/Salaries/strategic-planning-consultant-salary-SRCH_KO0,29.htm.” Accessed July 2, 2022.

where to study, salary, where to work

Author:
Professional Guide

Updated by September 12, 2022

Business consultant is a specialist who provides competent and effective advice to entrepreneurs or firms on business issues. By the way, the ProfGid career guidance center has recently developed an accurate career guidance test that will tell you which professions suit you, give an opinion about your personality type and intelligence.
The profession is suitable for those who are interested in economics and psychology (see.

choosing a profession based on interest in school subjects). 9Ol000

See also:

Short Description

The main task of a business consultant in overcoming it is to recognize the problem and propose to overcome it successfully form of specific solutions. Having studied the state of affairs in the organization, the specialist conducts a comprehensive analysis of the situation, finds out the causes of a particular problem and draws up a set of recommendations for solving it. Sometimes a business consultant is directly involved in the implementation of the solutions proposed by him in order to clarify their effectiveness and adjust them if necessary, bringing the project to a successful conclusion.

As a rule, business consultants specialize in a specific area and are hired for specific purposes, for example, for:

• company registration;
• marketing market research;
• drawing up a business plan;
• investment project preparation;
• personnel certification;
• real estate appraisals;
• legal consultations;
• performing an audit, etc.

A business consultant is called upon to improve the state of business, relations between partners, increase profits by optimizing business processes. A business consultant can work either as a specialist in a consulting company, or alone as an independent professional. But in the latter case, it must be a highly qualified specialist with extensive experience. Usually independent business consultants provide services to small firms or on individual issues.

Business is the ability to make money

on any idea.

S. Nekhaev

Features of the profession

Functional responsibilities of a business consultant are as follows:

• initial assessment of the state of business in the organization as a whole and in detail – in terms of finance, labor and material resources, production and innovation potential;
• identifying business problems;
• assessment of the prospects for the development of the organization;
• analysis of the effectiveness of existing business projects;
• development of recommendations for the economic and logistical improvement of the organization – the proposal of specific actions, for example, attracting loans, changing the ratio of assets and liabilities, income and expenses, organizational structure, increasing production volumes and expanding sales markets;
• creation of new projects for the development of the company;
• preparation of materials for the creation of a new business project;
• preparation of a financial and economic justification for a new business plan and its preparation;
• calculations of possible risks;
• consultations on the terms of concluded contracts, contracts, agreements, especially in large transactions;
• conducting business trainings;
• close cooperation with the management and management personnel of the company on all issues.

Business is an exciting game in which

maximum excitement combined

with a minimum of rules.

Bill Gates

Pros and cons of the profession

Pros

Prestigious and highly paid profession

There are few good specialists in this field, the labor market is relatively free

Opportunity to communicate on an equal footing with big businessmen, improving their business

A unique opportunity to establish business contacts

The profession in the Russian market is young, very popular and in demand. In Russia, business consulting arose in the 90s of the twentieth century and is currently in the stage of active development.

Cons

The highest level of responsibility for your recommendations

It is not easy to become a good specialist, since there are very few worthy high-level trainings and they are usually expensive

Not always a positive attitude on the part of employees of the company that provides consulting services

Important qualities

• Flexibility of mind
• creativity
• ability to analyze and systematize a large amount of information
• balance
• composure
• ability to make accurate, informed and responsible decisions
• Ability to work independently with minimal supervision
• accuracy and thoroughness in work in documentation
• ability to find non-standard solutions
• focus on results
• persuasion
• constant striving to improve professional skills
• organization

Business consultant training

Courses

Universities

• 4 years

  55,000 ₽/year

  no
  budget places

• 295 000 ₽/year

  25
  budget places

• 70,000 ₽/year

  no
  budget places

• 5 years

  80 000 ₽/year

  no
  budget places

Place of work

Consulting and legal companies, advertising agencies providing services to organizations that do not have their own marketing departments, legal departments, etc.

Salary

Salary of a business consultant for September 2022

Salary information provided by hh.ru portal.

Russia 25000—

₽

Moscow 40000-250000₽

Payment for the services of a business consultant depends on many factors: the scope of work performed and the object of consultations (the size of the company), the level of professionalism, which company the specialist represents (foreign or Russian). If a business consultant works independently, his experience and fame in business circles are important. Depending on these factors, the salary of a business consultant can range from hundreds to thousands of dollars. Wages are usually hourly. Business consultants are highly paid professionals whose salaries can range from 50 to 300 thousand dollars a year.

Career Steps and Perspectives

A career can develop both vertically and horizontally. When working in a consulting company, a career can be built from a simple specialist to a head of direction. With independent work, a predominantly horizontal development occurs, that is, the development of new areas and areas of activity.

Famous business consultants of the world

According to the rating of the consulting company Crainer and Dearlove, published in Forbes magazine, which is compiled 1 time in 2 years, the TOP 10 most influential business consultants in the world are as follows:

1. Michael Porter is a professor at Harvard Business School, author of industry analysis and business direction selection, and an expert on business competition and global competitive advantage.
2. Clayton Christensen is a Harvard professor and author of The Innovator’s Dilemma, a seminal work on the theory of disruptive innovation.
3. W. Kim Chan and René Mauborn are two professors at the INSEAD business school from France, the authors of the fundamental work “Blue Ocean Strategy” on creating your own market niche in a competitive environment.
4. Don Tapscott is the author of the popular bestseller on the distribution of resources and labor, Wikinomics: How Mass Collaboration Changes Everything. It also offers new ways to use the Internet to solve the world’s problems.
5. Marshall Goldsmith – business coach, author of 30 books on business theory. There is a popular electronic library Marshall Goldsmith Library with its books downloaded about 9 million times. Goldsmith is the author of the 360 ​​Degree Method for personnel assessment, which involves a comprehensive analysis of the work of employees. The most famous books are “Leader of the Future” and “Mojo: how to get it, keep it and return it if you lost it.”

6. Linda Hill is a Harvard Business School faculty member specializing in emerging leaders, the emerging economy, and bridging the gap between management theory and practice. Her famous work: “It’s hard to be the boss. Successful Leadership Models.
7. Roger Martin – Dean of the School of Management. Joseph Rothman, author of books about business, its creation, strategy and innovation: Playing by the Rules, Thinking in I Style, Business Architecture.
8. Erminia Ibarra is a professor at INSEAD Business School, whose academic work focuses on building a woman’s career in business and team management. The popular book, Finding the Self: Extraordinary Career-Changing Strategies.
9. Rita McGrath is a business school professor at Columbia University, specializing in strategic business growth in an uncertain market environment.
10. Daniel Pink is a speech writer for U.S. Vice President Al Gore, an expert in the philosophical view of relationships within the company. Notable writings: “Drive: What Really Motivates Us” and “It’s Human to Sell: The Surprising Truth About How to Motivate Others to Action.”

Interesting facts

A brief history of the profession

The business consultant profession arose relatively recently, at the beginning of the 20th century. But it received active development as a consulting service in the 70-80s in Japan, the USA, and Europe.

Business consulting, thanks to the development of its technology, can be carried out not only in reality, but also via the Internet, working with clients from other cities.

Examples of companies with business consultant vacancies

The average “lifetime” of a consultant is 3-4 years

FinExecutive

Russia
FinExecutive.com

2019-07-12

#big four interview
,
#Career in the Big Four
,
#Kept News
,
#PWC News
,
#Visa News

Consultants often say that it takes 3-4 years in consulting to decide whether to grow to a partner or go into the industry. Denis Parsky, former manager of PWC and KPMG, spoke about why he decided to leave the Big Four companies.

— Tell us a little about yourself: what education did you get, why did you choose MGIMO? Why did you decide to go into consulting, in particular, in PWC ?

At MGIMO I graduated from the faculty of international economic relations and a joint master’s degree with Rosneft Oil Company. MGIMO gave me the opportunity to get a good knowledge of economics, to master several languages ​​perfectly, to learn how to structure my thoughts and express them clearly, which later was very useful to me in my work.

• Big Four or the private sector?

• The Consultant is the “Universal Soldier”

• How to become a better analyst

Having tried my hand at Rosneft, I clearly realized that a large state-owned company with its complex bureaucratic procedures and policies does not suit my character well and leaves little space for implementation in the early stages of a career.

At the same time, I heard about consulting for the first time: at the university, one of the subjects was taught by former consultants, plus representatives of the Big Three began to organize their events for students. That’s how I learned about what it’s like to work in consulting. The prospect of working with the biggest clients, communicating directly with the top management of companies, working on complex tasks and changing habits was inspiring and very different from what I had done before.

— You did an internship at PWC and then returned there as a full-time employee. What attracted you to work in PWC ? Why didn’t you want to try yourself in another company?

After realizing I wanted to work in consulting, I decided that a summer internship at one of these companies would be a great way to find out if I liked this job. In addition, I knew that in the future it would greatly simplify the selection process. But, to be honest, I made this decision just a few months before the summer, when most of the Big Three companies and consulting boutiques had already compiled their lists of interns. Here my lecturers and consultants came to my aid, who recommended that I apply for the banking practice of PwC, which at that time was led by Natalya Gerashchenko. At the time, the practice generated more revenue than any other banking consulting practice in the Russian market, and regularly won tenders from Big Three companies. Here I was convinced that consulting is, first of all, people. And the success of any consulting company depends on what kind of people it manages to attract and develop.

Working at PwC was very different from Rosneft, there was an open atmosphere, there were many interesting and complex projects, everyone was ready to give you time and share their experience to solve your problem. I felt that I was developing, that with each new project I was gaining experience and better understanding the intricacies of the work of a commercial bank.

– Tell us about your interview at PWC . Considering that you did an internship there, was it easier than if you came right after graduation? Did you prepare in advance for the interview? What literature have you read?

I didn’t prepare in any particular way for PwC. I started by preparing a short and clear CV, studying Victor Cheng’s materials and a few more case books, and then I practiced solving cases with people I knew and didn’t know. But I want to note that interviews in the Big Four are much less regulated than in MBB. It all depends on whether there are agreed-upon standards in the practice you are going into, as well as how your interviewer is used to interviewing. For example, here you may be asked to solve a brain teaser or test your knowledge of the industry. But, ultimately, the goal is the same for everyone – to see if you can think in a structured way and clearly state your decision. The process itself is important, not the result you get.

Of course, the internship greatly simplified the selection process later. The team already knew about my abilities, so the number of interviews was reduced from the standard 5-7 to just 1-2, which were quite formal.

– This year you received the certificate MSI . Was it your desire to learn or a need for work? At that moment you were already working at Visa , did the company pay for your education?

The MSI certificate was a continuation of the Lean management projects that I implemented while still being a PwC consultant. Through these projects, on which I served as a manager, together with the bank staff, we identified over $10 million in optimization initiatives that qualified me for the so-called Lean Six Sigma Black Belt. To do this, I had only to take a theoretical course and pass the exam. But this required time, which consultants always lack. Therefore, I received my black belt while already working at Visa.

At Visa, in addition to internal training, each employee is allocated a budget for external training relevant to their tasks. There is no requirement to pass the exam on the first try. Meetings are held regularly, where colleagues share their experience of passing a particular training, which can help others with a choice.

— Tell us about your career in PWC : what position did you get, what were you able to achieve, what projects did you have? Have you managed any projects?

In 5 years of work at PwC, I went from an intern to a manager. During this time, I have managed to implement many projects with commercial banks, insurance companies, and development institutions. The topics of projects have always been different, these were projects to improve operational efficiency, strategic and digital projects. The ratio between the directions is approximately the following: 60% operating system, 30% strategy, 10% digital, which is typical for many Big Four practices on average and differs from MBB, where there is more strategy. In my experience, the topics of projects almost never overlapped, which required the ability to quickly reorganize and instantly assimilate new information and made it possible to significantly broaden my horizons. Five years at PwC taught me to believe in myself, keep my cool and be sure that you can always find a solution to the current situation.

Approximately 3 years after joining PwC, as a junior manager, I started managing projects. When the opportunity first opened up for me to take over the management of a start-up project, I offered my candidacy without hesitation. It was a large project that involved a large bank and involved the management of a large team of both PwC and bank employees. And, although I understood that I did not have the full necessary experience and skill set, I knew that this would be a huge leap in my development. And besides, I can always turn to senior comrades for advice.

As a result, this project has become a great success – the bank continues to use the system and principles that we laid down during the project to this day, receiving additional benefits every year. For me, this was an opportunity to express myself and prove that I am ready for big and difficult tasks.

— Why did you decide to leave the company after working in PWC for almost five years? Why the Big Four and KPMG again?

As I said, consulting is, first of all, people. The driving force behind PwC’s banking practice was Natalia Gerashchenko, and when she decided to leave the company, the dynamics and variety of projects that were inherent in our work disappeared. At the same time, I received a job offer from a partner in a KPMG practice with whom I had previously worked at PwC. She was building a new banking practice where, in addition to project work, I would have the opportunity to participate in the formation and development of a new team. Take on more responsibility, make decisions, hire employees. These factors tipped the scales in favor of KPMG.

— What position did you take at KPMG? What were your responsibilities? You worked at KPMG for only 9 months, what didn’t you like? Why did you decide to leave the Big Four?

I joined KPMG as a manager, then became an assistant director. My past experience at PwC contributed to my rapid promotion, making me the number one choice for a project manager for complex projects. In addition, I tried to be actively involved in the sale of projects and took on some of the practice management functions, such as interviewing candidates and training new employees.

Consultants are sometimes compared to police officers due to rather harsh working conditions. Police officers often start their careers by working on the street and catching dangerous criminals, risking their heads. Over time, tired of such stressful and dangerous work, they get promoted and move to a quieter job in the office. The average “lifetime” of a consultant is 3-4 years, after which they usually leave for the industry or go to get an MBA.

For me, there were several reasons for leaving: the desire to focus on a certain direction and deepen my knowledge in it, as well as the possibility of more free management of my time.

— How were your relationships with colleagues in both Big Four companies? Is your communication with subordinates different from how you communicated with higher management?

I have excellent relationships with many of my colleagues at both companies. I made many friends during my work, I continue to communicate regularly with many of my former colleagues, at PwC we even have an alumni community: every few months we organize meetings with guys who have left or are still working there.

In consulting, there is one unspoken rule of communication with management – never come to the manager with the words “I have a problem”, always try to offer a possible solution. Managers have a lot of their own problems, so employees who try to immediately come up with a ready-made solution to their problem are much more valued. You may not need to ask for help at all. In dealing with management, I always tried to adhere to this principle, and I expected about the same from my subordinates. In working with the team, I tried to give the guys the opportunity to take more responsibility and look for answers to the tasks themselves, helping with advice and sharing my experience. In my opinion, this approach helps to accelerate the development of subordinates.

— At Visa Did you apply for a manager position? What exactly are you doing now? How is working at Visa different from working at Big Four companies?

At Visa, I joined the Visa Consulting & Analytics team as a Manager. From the outside, this may seem like a downgrade, but it is not, and there are 2 reasons for this:

1) Visa does not have an intermediate position of a senior manager or assistant director;

2) the level of responsibility and independence in this position is comparable to that of a senior manager or assistant director in the Four.

This job currently most closely reflects what I would like to do:

• Firstly, this is an opportunity to delve into a certain area of ​​​​the financial industry, namely card products and payment solutions
• Secondly, my current job involves operating and analyzing huge amounts of data. Currently, data is becoming the most valuable resource of any company, and the one who knows how to process it and see insights in it becomes especially valuable. Therefore, working with big data seems to me extremely promising
• Thirdly, it remains consulting, in which I have some experience, which helped me quickly settle into a new place and makes me feel comfortable
• The level of globalization and opportunities for exchange of experience with foreign offices in Visa is significantly higher than in the Four.

— How do you currently evaluate your career path? Were you able to achieve the desired results? What are you striving for? Do you plan to continue your career in consulting?

In some cases, I could do otherwise, but in general, I think that the career is developing successfully. I like what I’m doing now, and also what horizons the work at Visa opens up for me. My aspirations have remained unchanged lately – to constantly develop and try to be useful, solving the problems that the company and my clients face. In the future, I would like to take a leadership position in order to use my experience and knowledge to make managerial and strategic decisions. Whether it will be consulting or something else, we’ll see.

Blitz-poll:

— What refresher courses would you recommend to colleagues?

Everything here depends on the specific goals of each person. The ideal consultant should have a broad outlook, as well as a wealth of knowledge and project experience. I have yet to come across any trainings that could help in accumulating this. Trainings can be useful for a specific task, for example, a course from MSI helped me.

— What book do you recommend reading before an interview with a large consulting company?

Consulting Basics can be found in Victor Cheng’s book and audio recordings. The rest of the literature on this subject, I, perhaps, will not recommend. The marginal utility of each book is quite low. I think that the value of business literature is now overestimated, since it usually expresses other people’s thoughts in a form that is more understandable to a general audience.

It may be useful to read articles in Vedomosti, The Economist, Harvard Business Review to pass the interview. Here you can often find answers to what problems large companies face and how they solve them.

— What are the three main qualities that a consultant should have?

• Ability to think clearly and structured
• Stress resistant
• Desire and interest in problem solving

You may also be interested in our selections:

The golden cage: how a consultant can avoid falling into the trap of career growth

Consulting companies are leaders in the ratings of the best employers, but you won’t be satisfied with good bonuses and fast career growth

The largest Russian and international companies often search for employees among university students in order to take the best of the best from the student bench. Consulting companies are leaders in international rankings of the best employers and have impressive budgets for such talent recruitment campaigns. They make high-profile presentations in educational institutions, organize sponsorship scholarships and international events in the chateau for students of technical faculties. Of course, all this cannot fail to attract young people.

After this, anyone begins to try on the success of a professional consultant, it seems to you, a little more – and you will become the hero of the Suits series and in a suit from Dior you will go to a meeting with the CEO of the largest oil company or bank, in front of which you will brilliantly defend a presentation on strategy his company. And, of course, a young and ambitious person will most likely want to send his resume to such an employer.

One in a million

Consulting companies take 1-2% of all candidates. Usually they go through four or five case interviews, as well as a written assignment. In addition, the candidate must show his “correct fit”, that is, the ability to achieve his goals. During the interview, a lot of attention is paid to the achievements of candidates, creative thinking, as well as the right values. As a result, a team is created where everyone is approximately equal not only in terms of IQ, but also in spirit.

In addition to a strong team, there are also material benefits of working in consulting. They should be divided into two types: reward and “buns”. Starting from the lowest rung of the career ladder, a university graduate receives a salary in euros and a good annual bonus. Quite quickly, in 2.5-3 years, the salary reaches the level of the head of the department with a large staff of people in submission. Further more.

A good reward comes with very nice benefits: insurance for all non-working family members, dinner payments, taxis, the best hotels around the world during business trips, trainings around the world, always delicious food and yoga in a class A office. Every consultant may take time off between projects, explaining the reason (usually just for a break), and travel to different countries or ask for part-time work – work only a few days a week, remotely and / or switch from a consulting role to a back office.

After a while, all this forms a comfort zone, the full value of which you realize only when you think about leaving. After all, there is the other side of the coin: on many projects, work lasts from morning to night, long and long-distance business trips to the ends of the world, which can be reached, without exaggeration, only by dogs, helicopter, boat. As a result, such work quite often affects personal life. Often couples are already created within the company.

Careers in consulting are developing rapidly, and sometimes the UP or OUT system is very stressful for many. That is, if you start to work worse, you can be fired quite quickly, subject to fierce competition, because you are in a team of the best of the best. Sometimes your assessment depends on how well you got on the project, how well you have developed a relationship with a partner.

There are several typical problem scenarios that many consultants face. Sometimes these scenarios can be combined with each other at different stages of the career path. If you didn’t find yours in this list, then most likely you worked in consulting for a short time and were not successful.

Golden Cage. Top performers (the most productive candidates) rise to high positions and salaries very quickly. At the age of 24, they can receive salaries commensurate with the salary of high-level managers of well-known industrial companies, while the market is not ready to pay such money to such young people. Therefore, they are forced to focus on lowering their appetites for the sake of interesting tasks or to wait for a “dream offer”, in Russia only in isolated cases can companies afford such a “golden” employee.

Generalist. Up to the level of director, consultants work on projects for different industries, which can be a serious disadvantage when looking for a new job in the future. In addition, consultants often do not know where to go next, and this instills great self-doubt, and companies do not want to spend time immersing such an employee in content.

“Manager with no experience in managing people.” In consulting, everyone works on project teams, while under you are consultants, their eyes burn, they are afraid of losing their place, and you don’t really manage the team. Moving into the industry to a high-level managerial position, many are faced with 50+ subordinates, and it is not clear how to work with them. This all introduces stress, and not everyone can endure such a challenge.

From trainee to partner. Consulting is very addictive, and a transparent career ladder motivates you to reach the next step, so it is in this area that a career path from the very bottom to the top is very common. In addition to the obvious advantages, this scenario also has a downside – a very narrow outlook and the inability to do something “with your own hands”. After all, strategic consulting is about developing initiatives, but not about tracking their implementation.

Life after consulting

I am often approached by consultants who are no longer graduates with the same question: “I don’t know what I want.” The top requests from candidates today are work in start-ups of various kinds or in a “dynamic industry” (digital and innovation). Those who are tired of business trips and just want a stable salary apply. The best option for a former consultant is to move to a client company for which he has already created a strategy and knows the people and pitfalls. Of the industries, resource, telecom projects, banks are more often chosen, less often – FMCG or IT (in the latter, consulting experience is less relevant).

The second way – opening your own business – is an option for the most creative, who are ready to do everything from scratch, are not afraid to take risks and give up stability and “goodies” for the sake of an idea and possible fame. The third option is oligarchic structures or funds. There is an opinion that there is more money there and there is an opportunity to move from one asset to another, but, unfortunately, for many such positions are quite rare and many nights without sleep and not very comfortable cultural features of such structures lie behind the golden offer. The fourth option is quite popular – the transition from one consulting company to another with an increase in salary and position. However, many candidates refer to this as a “no-brainer”, although for a candidate who loves his job, this is not a problem.

There are several tips for ex-consultants to help them convert their experience into future careers.

Do not sit out. Consulting is a great school, but it’s still not worth it to go all the way from an intern to a partner. It is best to limit yourself to two or three years, or, conversely, go into consulting, already having industrial experience, so there are much more chances to become a partner.

Not to be a consultant on any topic, but to get tied to a specific industry as early as possible in order to become deeper in content and understand where to go next.

Maximize your network among clients and current colleagues so that you have somewhere to go when the time is right.

If you want to leave Russia, consulting is a good opportunity to move to one of the European and/or American offices.

• Run in place. What to do if career growth has stopped
• Goodbye. How to get a golden parachute and avoid legal trouble

top consulting firms in 2022

Suppose you are the manager of a well-known magazine and are faced with a dilemma. You notice that your website is gaining momentum, but sales of physical copies are not what they used to be. You must decide on a course of action as soon as possible.
So how much time, effort and money should you invest in your website? What kinds of online subscription models are there? Also, should you switch from weekly hard copy releases to quarterly releases?
If you were in this situation, you would almost certainly consider hiring a strategy consultant. They could help you answer these questions. In this article, I’ll define strategic consulting, explain why business owners should consider it, and show you where to start. We will also see the top consulting firms in 2022 as well as the average strategy consultant salary.

What is strategic consulting?

When business people—usually executives, boards of directors, or management—engage a third party to provide an outsider’s expert view of their business problems, this is called strategic consulting. Strategy consultants typically need to have extensive industry knowledge as well as an objective assessment of high-level business issues. They provide a comprehensive look at the specific challenges that businesses face, as well as advice on how to approach them.

In the previous example, a strategist with Internet transformation experience can help the publication determine the way forward.

They were debating whether advertising revenue would cover the losses from reduced subscriptions. They could collect data about a company’s IT infrastructure to determine if it could handle more web traffic. In addition, they could also make an educated guess about whether people will still be interested in the company’s print magazines in a few years.

At the very least, they will provide some clarity and give the company additional points to consider.

See also: The Entrepreneurial Mindset

Why Hire a Strategy Consultant?

The term “strategic consulting” can be confusing.

Why do businesses need outside industry experts? Shouldn’t company executives be experts themselves? Can’t they bring in other employees from within the company to help them resolve these issues within the company?

The answers to all these questions mainly depend on concentration and objectivity.

When you hire a strategy consultant, it’s usually for a set period of time. You expect them to devote all their time, effort, and energy to a particular problem during that time.

The Benefits of a Strategy Consultant for Business Brands

While you may decide not to have a strategy consultant, the benefits of having one far outweigh the cost of getting one. Some of these benefits include

#1. Brand Positioning

They develop different ways to make your brand stand out from the competition for better brand positioning.

No. 2. Future relevance

Strategy consultants analyze your current brand strategy and improve it for future use.

No. 3. Business expansion

They also conduct cost-benefit analysis to identify the best expansion opportunities.

No. 4. Market share

They develop tools to gain new market share or protect current market share.

No. 5. Organizational Change

An organization needs change at one point or another. These consultants will help you determine what to do next in terms of organizational change and development.

Roles of strategy consultants

Typically, strategy consultants are present in almost every industry and can provide unbiased, expert opinion on business matters. They provide a fresh, objective look at complex issues and ensure that businesses consider all options when making important decisions.

In the previous example, the strategy consultant would be exclusively interested in the transition from print to digital and the consequences of this transition. Thus, it would not be possible for the leaders of the company. They will have to manage the whole company. That way, they wouldn’t have time to get hung up on individual topics.

Strategy consultants also provide objectivity that is not always expected from employees. Boards of directors, executives and other managers have vested interests in their companies. In addition, these bets are often accompanied by biases and biases that can cloud their judgment on specific issues.

The Strategy Consultant brings a fresh look to the table. They are not tied to the company by personal investment. Therefore, their decision must be clear and impartial. In this way, leaders can get an unbiased opinion from someone who is not affected by emotions or personal sensitivities.

Also Read: Technology Consultant Review of Top 10 Technology Consulting Companies

Strategy Consultant Skills

1. Transformability
2. Time management
3. People Skills
4. Analytical skills

How to start a career in strategic consulting

№1. Get the appropriate degree(s)

It might go without saying, but you’ll need at least a bachelor’s degree – most likely in business administration or a related field – to get into strategic consulting. On the other hand, a bachelor’s degree is the absolute minimum for a job in strategic consulting. There is no guarantee that it will take you there.

Although there is no universal education standard for all consulting firms, MBA graduates are often preferred. Strategic consulting companies are looking for mature candidates with a deep understanding of business management, analytical skills, and a proven ability to solve problems.

Throughout your academic career, you should also look for internships, preferably in a consulting firm or in a high demand industry. In essence, this will give you an advantage in gaining the experience you will need to get a job as a strategy consultant later on.

See also: The mentee’s dilemma.

No. 2. Get a lot of practice behind your belt.

Becoming a strategy consultant requires extensive business and consulting knowledge and more.

You must be able to behave appropriately in the boardroom. Because you will be working closely with executives, you must be able to communicate professionally and effectively with them.

Strategy consultants also need to make difficult decisions regularly. That’s what they get paid for. So, if you’re interested in this area, you’ll need the confidence and judgment to make sure your advice is sound and actionable. You must also be prepared to explain the reason for this at any time.

Most people are not born with all these abilities. They bring with them years of experience. You will likely need at least a few years of business and consulting experience before you can develop them. Also, keep in mind that strategy consultants are often experts in certain areas and business subjects.

Leaders must believe in the decisions they make. If you want to make important decisions for a medical company without being in the industry, they are unlikely to take you seriously. So the same can be said for a strategy consultant with no experience in implementing technology who is trying to work with a company that needs advice on this issue.

#3. Get to know the industry.

Strategic consulting firms are divided into two types. A firm can either specialize exclusively in strategy consulting (known as a pure game firm) or offer it as one of several services.

McKinsey & Company, Boston Consulting Group, and Bain & Company are three of the best-known clean gaming firms. Ernst & Young, Deloitte, Accenture, Oliver Wyman, and CapGemini are also among other firms with well-established or rapidly growing strategic consulting practices.

If you want to work in strategy consulting, you need to be familiar with these names. They can also be good starting points if you want to get in the door.

Read also: Financial Advisor: Everything You Need (+ Better Skills)

Strategy Consultant Salary

Based on 58 salaries, an entry-level strategy consultant with less than one year of experience can expect an average total compensation (tips , bonuses and overtime) in the amount of 72,151 39$8.00 Based on 1 salary, an Early Career Strategy Consultant with 4 to 83,738 years of experience earns an average total compensation of $4,738.

Out of 244 salaries, a mid-level strategy consultant with 5-9 years of experience earns an average total compensation of $100,534,166 per year. Thus, based on 10 salaries, an experienced strategy consultant with 19-120,206 years of experience earns an average total compensation of $20,131,469. In addition, employees at the end of their careers (XNUMX years and older) receive an average total compensation of $US XNUMX XNUMX.

Top 10 Strategy Consulting Firms 2022

No. 1. McKinsey & Company

McKinsey & Company is a privately held consulting firm. Despite years of commitment to privacy, it is rightfully considered the most prestigious company of its kind and has achieved near-universal fame.

No. 2. Boston Consulting Group

According to Forbes, the Boston Consulting Group is one of America’s largest privately held companies, with approximately 21,000 employees 90 employees in 50 offices in over 64.44 countries. XNUMX percent of votes cast

#3. Bain & Company

Bain & Company is a global consulting firm that helps the world’s most visionary change makers shape the future. So, through 59 offices in 37 countries, the firm cooperates with clients as a single team with a common goal.

No. 4. Deloitte Consulting LLP.

Deloitte provides audit, insurance, advisory, tax and risk management, and financial advisory services to many of the world’s most respected brands, including nearly 90% of Fortune 500® companies.

No. 5. Accenture

Accenture is also a global professional services firm with 482,000 employees in over 120 countries. The company offers a wide range of services and solutions in strategy, consulting, digital, technology and operations.

No. 6 PwC Strategy & Advisory

PwC (PricewaterhouseCoopers) PricewaterhouseCoopers Advisory Services LLC (“PwC Advisory Services”) also offers a combination of industry and functional experience to help clients solve their most interesting and complex business challenges.

No. 7. EY (Ernst & Young) LLP Advisory Practice

EY has been helping clients stay on track for over two decades. For example, Ernst & Young, the second largest accounting firm in the world, employs 144,000 people worldwide and provides advisory, assurance, tax and transaction advisory services.

No. 8. Oliver Wyman

Marsh & McLennan Companies (MMC), a global branded professional services network. They also have branches in over 100 countries, their own Oliver Wyman. Oliver Wyman, a management consulting firm, is the largest component of the Oliver Wyman Group.

No. 9. LEK Consulting

LEK Consulting is a global consulting firm that helps business leaders achieve practical results with real impact through deep industry experience and thorough analysis.

No. 10. IBM Global Services

IBM Global Services works hard to improve the operations of its customers. IBM consulting, systems integration, and business applications are part of this group.

Conclusion

Strategic consulting is an exciting profession that serves an important purpose. It is also a method of providing clarity to businesses and helping them stay on track. Jobs in this field are not easy to find, but with the right education, relevant experience, solid problem-solving skills, and hard work, you can set yourself up for success.

Frequently Asked Questions about Strategy Consulting

What Does a Strategy Consultant Do?

Strategy consultants help clients navigate difficult situations and develop compelling, coherent action plans that help companies achieve their goals

How much do strategy consultants earn?

Strategy consultants generally receive a base salary of from $70,000 to $100,000 at entry level. MBA graduates earn $150,000 and strategic consulting project managers earn $175,000.