Salary of Top Consulting Firms 2023: Detail & Comparison

In this article, we will explore and compare the salary of management consultants at 13 top consulting firms, including the Big Three (MBB) firms, the Big Four firms, and six Tier 2 firms - Accenture, Booz Allen Hamilton, Kearney, L.E.K., Oliver Wyman, Roland Berger.

Disclaimer:

(1) Unless stated otherwise, salaries in this article are based on US figures. The precise numbers vary from place to place, and we will provide additional insights where possible. “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, it's worth noting that Glassdoor is known to be a platform where users can anonymously share their salary and compensation information. As such, it can be difficult to verify the accuracy of the data presented. Furthermore, consulting firms do not openly disclose their salary information. Therefore, the below data should only be used for reference purposes.

How much do management consultants make?

At top consulting firms, entry-level management consultants may earn $100,000 each year (bonuses and profit sharings included), while senior consultants may earn up to $200,000. Project leaders/managers are typically paid $200,000-$300,000. Partner-level managers (principals, directors, partners, etc.) can even earn up to $1,000,000.

In this article, we’ll explore the likely salaries and bonuses for the following 13 consulting firms:

Big Three (MBB) firms: McKinsey, BCG, Bain
Big Four firms: Deloitte, KPMG, EY, PwC
Six notable Tier 2 firms: Accenture, Booz Allen Hamilton, Kearney, L.E.K., Oliver Wyman, Roland Berger

McKinsey & Company consulting salary 2023

McKinsey Consultant Analyst salary 2023 (Intern-level)

Base: $34,000-69,000
Performance Bonus: up to $7,000
Others: up to $6,000
Total Annual Salary: up to $82,000

McKinsey Business Analyst salary 2023 (Undergraduate, Junior-level)

Base: $83,000-122,000
Performance Bonus: up to $16,000
Others: up to $10,000
Retirement: minimum 7.5% of annual base and bonus to 401(k) plan, no contribution required
Signing Bonus: $5,000
Relocation: $2,000-10,000
Total Annual Salary: up to $148,000

McKinsey Associate salary 2023 (MBA/Experienced, Senior-level)

Base: $96,000-153,000
Performance Bonus: up to $34,000
Others: up to $20,000
Retirement: minimum 7.5% of annual base and bonus to 401(k), no contribution required
Signing Bonus: $30,000
Relocation: $2,000-10,000
Total Annual Salary: up to $207,000

McKinsey Engagement Manager salary 2023 (Manager-level)

Base: $140,000-211,000
Performance Bonus: up to $53,000
Others: up to $158,000
Retirement: minimum 7.5% of annual base and bonus to 401(k) plan, no contribution required
Total Annual Salary: up to $422,000 (potential for much more based on individual sales and profit sharing)

McKinsey Associate Partner/Partner/Senior Partner salary 2023 (Partner-level)

Base: $171,000-321,000
Performance Bonus: up to $131,000
Others: up to $325,000
Total Annual Salary: up to $777,000 (potential for much more based on individual sales and profit sharing)

Source: Glassdoor. Figures in this chart represent the highest available data points.

Boston Consulting Group (BCG) salary 2023

BCG Intern salary 2023 (Intern-level)

Base: $40,000-63,000
Performance Bonus: up to $6,000
Others: up to $5,000
Total Annual Salary: up to $74,000

BCG Associate salary 2023 (Undergraduate, Junior-level)

Base: $69,000-105,000
Performance Bonus: up to $16,000
Others: up to $26,000
Retirement: minimum 5% of annual base and bonus into 401(k), no contribution required
Signing Bonus: $5,000
Relocation: $5,000-8,000
Total Annual Salary: up to $147,000

BCG Consultant salary 2023 (MBA/Experienced, Senior-level)

Base: $114,000-179,000
Performance Bonus: up to $28,000
Others: up to $55,000
Retirement: minimum 5% of base and bonus into 401(k), no contribution required
Signing Bonus: $30,000
Relocation: $2,000-8,000
Total Annual Salary: up to $262,000

BCG Project Leader salary 2023 (Manager-level)

Base: $120,000-179,000
Performance Bonus: up to $37,000
Others: up to $62,000
Retirement: minimum 5% of base and bonus into 401(k), no contribution required
Total Annual Salary: up to $278,000 (potential for much more based on individual sales and profit sharing)

BCG Principal/Partner salary 2023 (Partner-level)

Base: $156,000-315,000
Performance Bonus: up to $123,000
Others: up to $304,000
Total Annual Salary: up to $742,000 (potential for much more based on individual sales and profit sharing)

Source: Glassdoor. Figures in this chart represent the highest available data points.

Bain & Company salary 2023

At Bain, junior Associate Consultants can earn up to $166,000 annually, while the figure for MBA-level/experienced Consultants can be over $240,000. Managers can earn up to $349,000, while Partners and Directors can earn as much as to $1,000,000.

Bain & Company Intern salary 2023 (Intern-level)

Base: $48,000-70,000
Performance Bonus: up to $4,000
Others: up to $3,000
Total Annual Salary: up to $84,000

Bain Associate Consultant salary 2023 (Undergraduate, Junior-level)

Base: $89,000-132,000
Performance Bonus: up to $21,000
Others: up to $13,000
Retirement: minimum 4.5% of base and bonus into 401(k), no contribution required
Signing Bonus: $5,000
Relocation: $5,000
Total Annual Salary: up to $166,000

Bain Consultant salary 2023 (MBA/Experienced, Senior-level)

Base: $96,000-153,000
Performance Bonus: up to $32,000
Others: up to $55,000
Retirement: minimum 4.5% of base and bonus into 401(k), no contribution required
Signing Bonus: $30,000
Relocation: $8,000-16,000
Total Annual Salary: up to $240,000

Bain Manager salary 2023 (Manager-level)

Base: $134,000-203,000
Performance Bonus: up to $50,000
Others: up to $96,000
Retirement: minimum 4.5% of base and bonus into 401(k), no contribution required
Total Annual Salary: up to $349,000 (potential for much more based on individual sales and profit sharing)

Bain Principal/Partner salary 2023 (Partner-level)

Base: $170,000-315,000
Performance Bonus: up to $119,000
Others: up to $302,000
Total Annual Salary: up to $736,000 (potential for much more based on individual sales and profit sharing)

Source: Glassdoor. Figures in this chart represent the highest available data points.

Deloitte Consulting salary

Deloitte Consulting Intern Salary

Base: $54,000-72,000
Performance Bonus: $5,000
Retirement: 50% match of first 6% into 401k (a total of 3%)
Total Annual Salary: up to $77,000

Deloitte Consultant salary (Undergraduate, Junior-level)

Base: $81,000-113,000
Performance Bonus: up to $10,000
Retirement: 50% match of first 6% into 401k (a total of 3%)
Total Annual Salary: up to $123,000

Deloitte Senior Consultant Salary (MBA/Experienced, Senior-level)

Base: $89,000-123,000
Performance Bonus: up to $12,000
Retirement: 50% match of first 6% into 401k (a total of 3%)
Total Annual Salary: up to $135,000

Deloitte Consulting Manager Salary (Manager-level)

Base: $109,000-155,000
Performance Bonus: up to $19,000
Others: up to $44,000
Total Annual Salary: up to $218,000

Deloitte Consulting Director Salary (Partner-level)

Base: $161,000-276,000
Performance Bonus: up to $48,000
Others: up to $159,000
Total Annual Salary: up to $483,000

Source: Glassdoor. Figures in this chart represent the highest available data points.

KPMG Consulting salary

KPMG Intern salary 2023 (Intern-level)

Base: $47,000-70,000
Performance Bonus: up to $4,000
Total Annual Salary: up to $74,000

KPMG Consultant salary 2023 (Undergraduate, Junior-level)

Base: $87,000-121,000
Performance Bonus: up to $9,000
Total Annual Salary: up to $130,000

KPMG Associate/Senior Consultant salary 2023 (MBA/Experienced, Senior-level)

Base: $91,000-132,000
Performance Bonus: up to $11,000
Total Annual Salary: up to $143,000

KPMG Manager salary 2023 (Manager-level)

Base: $117,000-163,000
Performance Bonus: up to $17,000
Others: up to $43,000
Total Annual Salary: up to $223,000 (potential for much more based on individual sales and profit sharing)

KPMG Director/Partner salary 2023 (Partner-level)

Base: $152,000-222,000
Performance Bonus: up to $42,000
Others: up to $136,000
Total Annual Salary: up to $400,000 (potential for much more based on individual sales and profit sharing)

Source: Glassdoor. Figures in this chart represent the highest available data points.

PwC and Strategy& Consulting salary

In 2013, PwC acquired Strategy& consulting firms, and incorporated it into the PwC network. Since Strategy& already has certain prestige and reputation, its branding remained relatively unchanged. Now, Strategy& is existing relatively independently alongside PwC’s inhouse consulting division.

In the US, Strategy& offers slightly better salaries and benefits for consultants than the PwC consulting division. While a junior PwC Associate/Consultant makes around $100,000 annually, a Strategy& Associate/Consultant usually earns more than $100,000 each year.

PwC Senior Associate/Senior Consultant can earn up to over $170,000 a year, while their Strategy& counterparts can earn nearly $250,000. Consulting Managers at PwC typically earn around $200,000 annually, while Consulting Managers at EY-Parthenon can earn up to $300,000. Partners in both firms usually earn at least $300,000 annually.

PwC/Strategy& Consulting Intern salary 2023 (Intern-level)

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.

	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

Source: Glassdoor. Figures in this table represent the highest available data points

PwC/Strategy& Associate/Consultant salary 2023 (Undergraduate, Junior-level)

At PwC, an Associate makes around $73,000-106,000 a year, and a Consultant makes around $96,000-138,000 a year.

	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

Source: Glassdoor. Figures in this table represent the highest available data points.

Strategy& Associate/Consultant has a somewhat higher compensation package, around $94,000-153,000 annually.

	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

Source: Glassdoor. Figures in this table represent the highest available data points.

PwC/Strategy& Senior Associate/Senior Consultant salary 2023 (MBA/Experienced, Senior-level)

For senior roles, PwC pays Senior Consultant/Associate $95,000-170,000 annually.

	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

Source: Glassdoor. Figures in this table represent the highest available data points.

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.

	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

Source: Glassdoor. Figures in this table represent the highest available data points.

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 payments. Meanwhile, at Strategy&, annual compensation for a Consulting Manager ranges from $196,000 to $308,000.

Note that PwC and Strategy& Consulting Managers have the potential for much higher salaries based on individual sales and profit sharing.

	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

Source: Glassdoor. Figures in this table represent the highest available data points.

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.

Note that PwC and Strategy& Partners have the potential for much higher salaries based on individual sales 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

Source: Glassdoor. Figures in this table represent the highest available data points.

EY Consulting & EY-Parthenon Salary

In 2014, EY acquired The Parthenon Group, a Boston consulting firm, to bolster its consulting business arm. EY Parthenon now coexists alongside EY’s Consulting business division.

In the US, the salary for Junior-level consultants at both firms is roughly the same: an Associate/Consultant at EY can earn up to $128,000 annually, while an EY Parthenon Associate/Consultant can earn $130,000 annually.

However, as one's career advances, EY-Parthenon offers slightly better salaries and benefits for consultants than its EY counterpart. EY Senior Associate/Senior Consultant can earn up to over $138,000 a year, while their EY-Parthenon counterparts can earn nearly $200,000.

Consulting Managers at EY typically earn around $200,000 annually, while Consulting Managers at EY-Parthenon can earn nearly $300,000. Partners and Directors in both firms usually earn at least $300,000 annually. However, it is widely recognized that Manager-level and Partner-level personnel in both firms have the potential for much higher earnings based on their individual sales and profit sharing.

EY and EY-Parthenon Intern salary 2023

An EY consulting Intern earns $58,000-83,000 annually. As for EY-Parthenon, an Intern’s salary is $56,000-89,000.

	EY Consulting	EY-Parthenon
Base	$56,000 - $78,000	$52,000 - $81,000
Bonus	$2,000 - $5,000	$4,000 - $8,000
Total	$58,000 - $83,000	$56,000 - $89,000

Source: Glassdoor. Figures in this table represent the highest available data points.

EY and EY-Parthenon Associate/Consultant salary 2023 (Undergraduate, Junior-level)

At EY consulting division, an Associate makes between $69,000-103,000 a year, while a Consultant’s annual salary is between $87,000-128,000.

	Associate	Consultant
Base	$66,000 - $97,000	$82,000 - $119,000
Bonus	$3,000 - $6,000	$4,000 - $8,000
Total	$69,000 - $103,000	$87,000 - $128,000

Source: Glassdoor. Figures in this table represent the highest available data points.

On the other hand, at EY Parthenon, both Associate and Associate Consultant roles pay roughly the same amount, around $90,000-130,000 a year.

	Associate	Associate Consultant
Base	$71,000 - $109,000	$76,000 - $103,000
Bonus	$7,000 - $14,000	$7,000 - $13,000
Others	$7,000 - $13,000	$7,000 - $13,000
Total	$85,000 - $135,000	$90,000 - $130,000

Source: Glassdoor. Figures in this table represent the highest available data points.

EY and EY-Parthenon Senior Associate/Senior Consultant salary 2023 (MBA/Experienced, Senior-level)

A senior EY Associate/Consultant earns between $89,000-137,000 a year.

	Senior Associate	Senior Consultant
Base	$86,000 - $125,000	$90,000 - $127,000
Bonus	$4,000 - $7,000	$5,000 - $10,000
Total	$89,000 - $132,000	$95,000 - $137,000

Source: Glassdoor. Figures in this table represent the highest available data points.

EY-Parthenon Senior Associate/Senior Consultant salary is much higher than their EY counterpart. They earn between $104,000-198,000 a year.

	Senior Associate	Senior Consultant
Base	$86,000 - $124,000	$107,000 - $147,000
Bonus	$10,000 - $18,000	$13,000 - $24,000
Others	$8,000 - $16,000	$14,000 - $27,000
Total	$104,000 - $158,000	$134,000 - $198,000

Source: Glassdoor. Figures in this table represent the highest available data points.

EY and EY-Parthenon Consulting Manager salary 2023 (Manager-level)

At EY, a Consulting Manager makes between $141,000-217,000 a year, while an EY Parthenon Consulting manager's annual salary is around $183,000-285,000.

EY-Parthenon offers a higher amount of bonus and additional pay compared to EY Consulting.

Note that EY and EY-Parthenon Consulting Managers have the potential for much higher salaries based on individual sales and profit sharing.

	EY	EY-Parthenon
Base	$111,000 - $160,000	$124,000 - $176,000
Bonus	$8,000 - $15,000	$15,000 - $28,000
Others	$22,000 - $41,000	$43,000 - $80,000
Total	$141,000 - $217,000	$183,000 - $285,000

Source: Glassdoor. Figures in this table represent the highest available data points.

EY and EY-Parthenon Partner salary 2023 (Partner-level)

At EY, a partner-level person makes between $264,000-483,000 annually. EY Parthernon offers a higher salary level for their partner, $372,000 - $661,000 a year.

Note that EY and EY-Parthenon Partner-level people have the potential for much higher salaries based on individual sales and profit sharing.

	EY	EY-Parthenon
Base	$150,000 - $270,000	$179,000 - $301,000
Bonus	$28,000 - $53,000	$54,000 - $100,000
Others	$85,000 - $160,000	$139,000 - $260,000
Total	$264,000 - $483,000	$372,000 - $661,000

Source: Glassdoor. Figures in this table represent the highest available data points.

Accenture consulting salary

At Accenture, entry-level consultants can earn up to $134,000 annually, while the figure for MBA-level/experienced Associates can be more than $150,000. Engagement managers typically earn around $200,000, while Partners and Directors can earn more than $500,000.

Accenture Associate/Assistant salary 2023 (Intern-level)

Base: $41,000-74,000
Performance Bonus: up to $6,000
Others: up to $8,000
Total Annual Salary: up to $88,000

Accenture Analyst salary 2023 (Undergraduate, Junior-level)

Base: $64,000-112,000
Performance Bonus: up to $7,000
Others: up to $15,000
Retirement: 6% match for 401(k) after the first year
Relocation: up to $5,000
Total Annual Salary: up to $134,000

Accenture Consultant salary 2023 (MBA/Experienced, Senior-level)

Base: $67,000-114,000
Performance Bonus: up to $11,000
Others: up to $48,000
Retirement: 6% match for 401(k) after the first year
Relocation: up to $10,000
Total Annual Salary: up to $173,000

Accenture Manager salary 2023 (Manager-level)

Base: $86,000-162,000
Performance Bonus: up to $17,000
Others: up to $80,000
Retirement: 6% match for 401(k)
Total Annual Salary: up to $200,000 (potential for much more based on individual sales and profit sharing)

Accenture Director salary 2023 (Partner-level)

Base: $118,000-264,000
Performance Bonus: up to $66,000
Others: up to $192,000
Total Annual Salary: up to $522,000 (potential for much more based on individual sales and profit sharing)

Source: Glassdoor. Figures in this chart represent the highest available data points.

Other consulting firms salary

Booz Allen Hamilton consulting salary 2023

Booz Allen Hamilton Intern salary 2023 (Intern-level)

Base: $41,000-72,000
Performance Bonus: up to $6,000
Others: up to $9,000
Total Annual Salary: up to $87,000

Booz Allen Hamilton Consultant salary 2023 (Undergraduate, Junior-level)

Base: $70,000-105,000
Performance Bonus: up to $8,000
Others: up to $11,000
Retirement: 6% match for 401(k)
Total Annual Salary: up to $124,000

Booz Allen Hamilton Associate salary 2023 (MBA/Experienced, Senior-level)

Base: $75,000-125,000
Performance Bonus: up to $16,000
Others: up to $20,000
Retirement: 6% match for 401(k)
Total Annual Salary: up to $161,000

Booz Allen Hamilton Engagement Manager Salary 2023 (Manager-level)

Base: $82,000-160 ,000
Performance Bonus: up to $16,000
Others: up to $31,000
Retirement: 6% match for 401(k)
Total Annual Salary: up to $207,000 (potential for much more based on individual sales and profit sharing)

Booz Allen Hamilton Principal/Partner salary 2023 (Partner-level)

Base: $142,000-272,000
Performance Bonus: up to $69,000
Others: up to $200,000
Total Annual Salary: up to $541,000 (potential for much more based on individual sales and profit sharing)

Kearney consulting salary 2023

Kearney Intern salary 2023 (Intern-level)

Base: $42,000-64,000
Performance Bonus: up to $7,000
Others: up to $16,000
Total Annual Salary: up to $87,000

Kearney Business Analyst salary 2023 (Undergraduate, Junior-level)

Base: $69,000-127,000
Performance Bonus: up to $14,000
Others: up to $25,000
Retirement: 6% of base salary into 401(k)
Total Annual Salary: up to $166,000

Kearney Associate salary 2023 (MBA/Experienced, Senior-level)

Base: $76,000-158,000
Performance Bonus: up to $24,000
Others: up to $42,000
Retirement: 6% of base salary into 401(k)
Total Annual Salary: up to $224,000

Kearney Manager Salary 2023 (Manager-level)

Base: $112,000-170,000
Performance Bonus: up to $33,000
Others: up to $119,000
Retirement: 6% of base salary into 401(k)
Total Annual Salary: up to $322,000 (potential for much more based on individual sales and profit sharing)

Kearney Principal/Partner salary 2023 (Partner-level)

Base: $168,000-286,000
Performance Bonus: up to $86,000
Others: up to $238,000
Total Annual Salary: up to $610,000 (potential for much more based on individual sales and profit sharing)

L.E.K. consulting salary 2023

L.E.K. Intern salary 2023 (Intern-level)

Base: $42,000-66,000
Performance Bonus: up to $9,000
Others: up to $16,000
Total Annual Salary: up to $91,000

L.E.K. Associate/Associate Consultant salary 2023 (Undergraduate, Junior-level)

Base: $83,000-129,000
Performance Bonus: up to $22,000
Others: up to $35,000
Total Annual Salary: up to $186,000

L.E.K. Consultant salary 2023 (MBA/Experienced, Senior-level)

Base: $100,000-171,000
Performance Bonus: up to $24,000
Others: up to $48,000
Total Annual Salary: up to $243,000

L.E.K. Manager Salary 2023 (Manager-level)

Base: $128,000-192,000
Performance Bonus: up to $36,000
Others: up to $114,000
Total Annual Salary: up to $342,000 (potential for much more based on individual sales and profit sharing)

L.E.K. Principal/Partner salary 2023 (Partner-level)

Base: $167,000-309,000
Performance Bonus: up to $104,000
Others: up to $267,000
Total Annual Salary: up to $680,000 (potential for much more based on individual sales and profit sharing)

Oliver Wyman consulting salary 2023

Oliver Wyman Intern salary 2023 (Intern-level)

Base: $41,000-63,000
Performance Bonus: up to $7,000
Others: up to $9,000
Total Annual Salary: up to $79,000

Oliver Wyman Consultant salary 2023 (Undergraduate, Junior-level)

Base: $59,000-109,000
Performance Bonus: up to $16,000
Others: up to $39,000
Total Annual Salary: up to $164,000

Oliver Wyman Associate salary 2023 (MBA/Experienced, Senior-level)

Base: $100,000-148,000
Performance Bonus: up to $27,000
Others: up to $40,000
Total Annual Salary: up to $215,000

Oliver Wyman Manager Salary 2023 (Manager-level)

Base: $104,000-182,000
Performance Bonus: up to $37,000
Others: up to $123,000
Total Annual Salary: up to $342,000 (potential for much more based on individual sales and profit sharing)

Oliver Wyman Principal/Partner salary 2023 (Partner-level)

Base: $166,000-300,000
Performance Bonus: up to 121,000
Others: up to $296,000
Total Annual Salary: up to $717,000 (potential for much more based on individual sales and profit sharing)

Roland Berger consulting salary 2023

Roland Berger Intern salary 2023 (Intern-level)

Base: $42,000-63,000
Performance Bonus: up to $6,000
Others: up to $8,000
Total Annual Salary: up to $77,000

Roland Berger Consultant salary 2023 (Undergraduate, Junior-level)

Base: $62,000-102,000
Performance Bonus: up to $12,000
Others: up to $11,000
Total Annual Salary: up to $125,000

Roland Berger Associate salary 2023 (MBA/Experienced, Senior-level)

Base: $80,000-146,000
Performance Bonus: up to $20,000
Others: up to $33,000
Total Annual Salary: up to $199,000

Roland Berger Manager Salary 2023 (Manager-level)

Base: $107,000-158,000
Performance Bonus: up to $21,000
Others: up to $37,000
Total Annual Salary: up to $216,000 (potential for much more based on individual sales and profit sharing)

Roland Berger Principal/Partner salary 2023 (Partner-level)

Base: $154,000-297,000
Performance Bonus: up to 105,000
Others: up to $269,000
Total Annual Salary: up to $671,000 (potential for much more based on individual sales and profit sharing)

Fringe benefits of a consultant

Common fringe benefits include health insurance, life insurance, tuition assistance, childcare reimbursement, employee discounts, employee stock options, and the privilege of using a company-owned vehicle for personal use.

The fringe benefits offered by the MBB are generally more comprehensive and generous compared to the Big Four and other Tier 2 consulting firms mentioned above.

Fringe benefits are extra rewards that companies give to their employees along with their regular pay. These benefits help companies attract and keep good employees by providing additional incentives.

Health Insurance

MBB firms provide fully comprehensive health insurance plans with a broader range of coverage options, which results in employees paying less for better health services.

On the other hand, while Tier 2 and Big Four firms also offer good health insurance plans with excellent benefits, their employees usually have to pay more than their MBB counterparts. Some Tier 2 firms (like Accenture, Kearney, and Oliver Wyman) and the Big Four’s subsidiaries (EY-Parthenon, Strategy&, and Monitor Deloitte) seem to provide better health options than the Big Four firms.

Retirement Benefits

In the United States, MBB consulting firms provide strong retirement savings 401(k) plans, with no contributions required. This makes their 401(k) plans better than what other consulting firms offer.

McKinsey has the reputation of having the best 401(k) plans in the industry that match 100% of the employee's contributions up to 7.5% of a consultant's base and bonus salary.

Meanwhile, BCG and some Tier 2 firms (such as Accenture, Booz Allen Hamilton, and Kearney) have 401(k) plans that match 100% of the employee's contributions up to around 6%.

Bain has a lower initial matching 100% contribution of 4.5% for new employees. However, the percentage will increase based on the consultant's experience and position, eventually reaching the same level as BCG.

The Big Four and other Tier 2 firms also have good 401(k) plans but cannot match the same level of contributions as MBB. Their 401(k) rate is around 3-5%, and not every firm has a 100% match as the MBB and some Tier 2 firms do.

Paid Time Off

MBB and some Tier 2 firms (like Accenture, Kearney, and Oliver Wyman) provide generous vacation and paid time-off policies that can be extended to 18-20 weeks for maternity leaves and around 2-3 weeks for vacation. Those firms also have options for sabbaticals and extended leaves for personal or professional development.

Big Four and other Tier 2 firms’ policies are not as flexible but also offer good vacation and paid-time-off packages. The paid time-off is shorter than their MBB counterparts (around 16-18 weeks for maternity leaves, around two weeks for vacation) but still reasonable compared to the rest of the industry.

Professional Support

MBB firms invest heavily in training their consultants, providing extensive training programs. Big Four and Tier 2 firms also offer professional training opportunities but lack the same resources or quality in their training programs.

Travel and Expense Policies

The MBB, Big Four, and Tier 2 firms cover travel expenses when consultants work onsite at client locations. However, MBB firms have better travel policies and higher expense allowances for consultants, ensuring they have the most comfortable accommodations available at the site.

Non-Monetary Perks

MBB, Big Four, and Tier 2 firms offer many additional perks such as subsidized gym memberships, wellness programs, on-site fitness centers, and employee assistance programs. However, the perks for MBB consultants are generally better than their counterparts at Big Four and Tier 2 firms, with access to higher quality services.

Those differences above in fringe benefits between MBB, Big Four, and Tier 2 consulting firms are primarily driven by the prestige and client portfolios of these firms. If you have doubts about the fringe benefits offered by Big Four and Tier 2 consulting firms after reading this, remember that they are still among the best in the industry, they are just not as good compared to the MBB.

Salaries when exiting management consulting

Short answer: You get a raise when you quit the job.

And here’s the long answer:

Even though management consulting is among the best-paid jobs, with a few years of experience, you will receive even higher-paying offers from outside the industry – typically ranging from 20% to 50%, but sometimes as high as 100-200%!

This is why so many people willingly exit the industry within a few years. Still, at the same time, it explains why management consulting is so attractive – those learning opportunities will catapult your career and your salary sky-high!