In the US, a PwC Consultant makes between $96,000 to $138,000.
In 2013, PwC acquired Strategy& consulting firm and incorporated it into the PwC network. Since Strategy& already has certain prestige and reputation, its branding has remained relatively unchanged. A Strategy& Consultant in the US earns between $97,000 and $156,000 each year.
In this article, we will explore in depth the salary levels of both the PwC consulting division and Strategy&.
Disclaimer:
(1) Unless stated otherwise, salaries in this article are based on US figures. “Total Annual Salary” includes Base Salary, Performance Bonus, and Others (including Profit Sharings, Stock, Commission), scaled up to one year (for example, if an Intern works for ten weeks, we will scale up the income of ten weeks to one year for presentation purposes).
(2) One-time sums, such as Relocation or Signing Bonus, are not counted. Business allowance is also not presented here. The figures in this article are rounded to the closest 1000. Actual figures may vary, depending on location, position, experience, performance, and report time.
(3) Our primary source of information is Glassdoor. However, Glassdoor is a platform where users can anonymously share their salary and compensation information. As such, it can be difficult to verify the accuracy of its data. Furthermore, consulting firms do not openly disclose their salary information. Therefore, the below data should only be used for reference purposes.
Read more: Salary of Top Consulting Firms 2023
Table of Contents
PwC/Strategy& consulting Intern salary 2023
On average, a PwC consulting Intern’s annual salary is between $59,000 to $83,000. At Strategy&, an Intern usually earns $48,000 to $78,000 a year. This consists largely of base pay and a small bonus amount.
|
PwC |
Strategy& |
|
|
Base |
$57,000-$78,000 |
$44,000-$71,000 |
|
Bonus |
$3,000-$5,000 |
$4,000-$7,000 |
|
Total |
$59,000-$83,000 |
$48,000-$78,000 |
PwC and Strategy& consulting Intern annual salary, USA. Source: Glassdoor
When compared to MBB firms, the total salary for intern roles are quite similar across all companies. However, McKinsey, BCG and Bain offer lower base pay compared to PwC and Strategy&, but has more additional income for interns (stock/commission).
|
McKinsey |
BCG |
Bain |
|
|
Base |
$34,000-$69,000 |
$40,000-$63,000 |
$48,000-$70,000 |
|
Bonus |
$3,000-$7,000 |
$3,000-$6,000 |
$4,000-$8,000 |
|
Others |
$3,000-$6,000 |
$3,000-$5,000 |
$3,000-$6,000 |
|
Total |
$40,000-$82,000 |
$46,000-$74,000 |
$55,000-$84,000 |
MBB consulting Intern annual salary, USA. Source: Glassdoor
PwC/Strategy& Associate/Consultant salary 2023 (Undergraduate, Junior-level)
At PwC, a Junior Associate makes around $73,000 - $106,000 a year, and a Junior Consultant makes around $96,000 - $138,000 a year. Both positions’ salaries include a base pay and a cash bonus with nearly all of their salary coming from the base pay.
Associates at PwC mostly perform internal supporting roles, while Consultants mainly deal with clients. The higher salary is compensation for the extra responsibilities, and may include stipends for regular business trips to clients sites, with fees for meals, travel, accommodation, etc.
|
|
Associate |
Consultant |
|
Base |
$70,000-$100,000 |
$91,000-$128,000 |
|
Bonus |
$3,000-$6,000 |
$5,000-$9,000 |
|
Total |
$73,000-$106,000 |
$96,000-$138,000 |
PwC Associate/Consultant annual salary, USA. Source: Glassdoor
For Strategy& juniors, both Associate and Consultant roles have similar compensation packages, at around $94,000 - $153,000. The base salary at Strategy& is roughly the same as PwC, but Strategy& provides better additional pay.
|
|
Associate |
Consultant |
|
Base |
$71,000 - $114,000 |
$78,000 - $119,000 |
|
Bonus |
$9,000 - $16,000 |
$9,000 - $17,000 |
|
Others |
$10,000 - $19,000 |
$10,000 - $20,000 |
|
Total |
$90,000 - $150,000 |
$97,000 - $156,000 |
Strategy& Associate/Consultant annual salary, USA. Source: Glassdoor
Compared to McKinsey, BCG, and Bain, consulting salary at Strategy& is nearly on par with the big three consulting companies. PwC consulting, on the other hand, is much lower than both Strategy& and MBB firms.
|
McKinsey |
BCG |
Bain |
|
|
Base |
$83,000-$122,000 |
$69,000-$105,000 |
$89,000-$132,000 |
|
Bonus |
$9,000-$16,000 |
$9,000-$16,000 |
$11,000-$21,000 |
|
Others |
$6,000-$10,000 |
$13,000-$26,000 |
$7,000-$13,000 |
|
Total |
$98,000-$148,000 |
$91,000-$147,000 |
$107,000-$166,000 |
MBB junior-level annual salary, USA. Source: Glassdoor
PwC/Strategy& Senior Consultant/Senior Associate salary 2023 (MBA/Experienced, Senior-level)
For senior roles, PwC pays Associates $95,000 - $138,000 in total each year. Senior Consultants are paid slightly higher, $114,000 - $170,000 annually. Both roles have only a base pay and a small bonus.
While the pay gap between the two is a little smaller than the Junior level’s, the same explanation about the roles’ functions could be applied here.
|
Senior Associate |
Senior Consultant |
|
|
Base |
$91,000 - $130,000 |
$106,000 - $156,000 |
|
Bonus |
$4,000 - $8,000 |
$7,000 - $14,000 |
|
Total |
$95,000 - $138,000 |
$114,000 - $170,000 |
PwC Senior Associate/Senior Consultant annual salary, USA. Source: Glassdoor
At Strategy&, Senior Associate gets paid a minimum of $129,000, and a maximum of $208,000. A Senior Consultant’s total salary is between $152,000 and $242,000. Both Strategy& roles receive more bonuses than at PwC, and they have more options for additional pay than at PwC.
So, in contrast to junior Strategy& consulting roles, Senior Consultants receive a higher salary than Senior Associate. This means at the senior level, Strategy& will have a clear division between their in-house support team and client-facing team.
|
Senior Associate |
Senior Consultant |
|
|
Base |
$98,000 - $151,000 |
$108,000 - $160,000 |
|
Bonus |
$13,000 - $25,000 |
$14,000 - $26,000 |
|
Others |
$17,000 - $32,000 |
$30,000 - $56,000 |
|
Total |
$129,000 - $208,000 |
$152,000 - $242,000 |
Strategy& Senior Associate/Senior Consultant annual salary, USA.
Source: Glassdoor
In direct comparison to MBB consulting firms, PwC offers a lower pay with fewer income sources for its Senior consultant. In contrast, Strategy&, for Senior Consultants, offer a high very competitive salary, the same as the highest industry rates from BCG and Bain ($150,000 - $240,000).
|
McKinsey |
BCG |
Bain |
|
|
Base |
$96,000-$153,000 |
$69,000-$105,000 |
$96,000-$153,000 |
|
Bonus |
$18,000-$34,000 |
$9,000-$16,000 |
$17,000-$32,000 |
|
Others |
$11,000-$20,000 |
$30,000-$55,000 |
$29,000-$55,000 |
|
Total |
$125,000-$207,000 |
$159,000-$262,000 |
$142,000-$240,000 |
MBB senior-level annual salary, USA. Source: Glassdoor
PwC/Strategy& consulting Manager salary 2023 (Manager-level)
Annual compensation for a PwC consulting manager ranges from $148,000 to $227,000, and around 25% of their salary is from bonuses and other pays. Meanwhile, at Strategy&, annual compensation for a consulting manager ranges from $196,000 to $308,000, and around 40% of their salary is from bonuses and other pays.
|
PwC |
Strategy& |
|
|
Base |
$116,000 - $167,000 |
$134,000 - $191,000 |
|
Bonus |
$9,000 - $16,000 |
$21,000 - $39,000 |
|
Others |
$23,000 - $44,000 |
$41,000 - $78,000 |
|
Total |
$148,000 - $227,000 |
$196,000 - $308,000 |
PwC/Strategy& consulting Manager annual salary, USA. Source: Glassdoor
Higher positions like these see a large difference between the min-max amounts reported, both in the base pay and bonuses. As we ascend through the ranks, compensations and benefits varies greatly due to a candidate’s experience and contribution to the firms. So, an individual manager’s salary can be vastly different for each case, this report can only serve as an overall guideline.
PwC consulting managers are paid much less than MBB consulting managers. By contrast, Strategy&’s consulting manager salary is roughly the same to BCG and Bain (around $200,000-$300,000).
|
McKinsey |
BCG |
Bain |
|
|
Base |
$140,000-$211,000 |
$120,000-$179,000 |
$134,000-$203,000 |
|
Bonus |
$28,000-$53,000 |
$20,000-$37,000 |
$27,000-$50,000 |
|
Others |
$86,000-$158,000 |
$33,000-$62,000 |
$51,000-$96,000 |
|
Total |
$254,000-$422,000 |
$173,000-$278,000 |
$212,000-$349,000 |
MBB manager-level annual salary, USA. Source: Glassdoor
PwC/Strategy& consulting Partner salary 2023 (Partner-level)
A PwC Partner makes between $299,000 and $542,000 a year. Meanwhile, a Strategy& partner’s yearly earning ranges from $375,000 to $700,000. At both these entities, half of the partners’ salary comes from bonus, stock options, commissions and profit sharing.
|
PwC |
Strategy& |
|
|
Base |
$160,000 - $283,000 |
$176,000 - $327,000 |
|
Bonus |
$32,000 - $60,000 |
$56,000 - $104,000 |
|
Others |
$107,000 - $199,000 |
$143,000 - $268,000 |
|
Total |
$299,000 - $542,000 |
$375,000 - $700,000 |
PwC/Strategy& consulting Partner annual salary, USA. Source: Glassdoor
As we can see, the salary level for a Strategy& is on par with the MBB consulting firms, all above the $300,000 - $700,000 mark. By contrast, PwC partners receive a much lower base pay and bonus.
|
McKinsey |
BCG |
Bain |
|
|
Base |
$171,000-$321,000 |
$156,000-$315,000 |
$170,000-$315,000 |
|
Bonus |
$46,000-$131,000 |
$46,000-$123,000 |
$49,000-$119,000 |
|
Others |
$126,000-$325,000 |
$125,000-$304,000 |
$132,000-$302,000 |
|
Total |
$343,000-$777,000 |
$327,000-$742,000 |
$351,000-$736,000 |
MBB partner-level annual salary, USA. Source: Glassdoor
Higher positions like these see a large difference between the min-max amounts reported, both in the base pay and bonuses. As we ascend through the ranks, compensations and benefits varies greatly due to a candidate’s experience and contribution to the firms. So, an individual manager’s salary can be vastly different for each case, this report can only serve as an overall guideline.
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