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-$250,000. Partner-level managers (partners, directors, principals) can earn up to $1,000,000-$1,300,000.
In this article, we’ll explore the salary and bonuses for the following 12 consulting firms:
•MBB (Big Three firms): McKinsey, BCG, Bain
•Big Four firms: Deloitte, KPMG, EY, PwC
•Other firms: Accenture, AT Kearney, LEK, Oliver Wyman, Booz Allen Hamilton
McKinsey & Company consulting salary
McKinsey salary for entry-level consultants (Analysts) ranges from $90,000 to $110,000 per year, while the figure for MBA-level/experienced Associates can go up to $233,000. Engagement managers typically earn around $250,000, while Partners and Directors can earn up to $1,300,000.
McKinsey Analyst salary (Undergraduate/Entry-level)
•Base: $88,000 (Canada: CA$82,000, UK: £45,500, India: ₹1,635,000, China: ¥290,000)
•Performance Bonus: up to $15,000 (UK: £5,000, India: ₹450,000)
•Profit Sharing: up to $10,000 (China: ¥48,000)
•Retirement: 7% annual contribution every year to 401K plan
•Signing Bonus: $5,000 (UK: £3,000)
•Relocation: $2,000-10,000
•Total Annual Salary: up to $113,000
McKinsey Associate salary (MBA/Experienced-level)
•Base: $168,000 (UK: £84,000) (China: $116,000)
•Performance Bonus: up to $35,000
•Profit Sharing: up to $30,000
•Retirement: 7.5% into 401k
•Signing Bonus: $30,000
•Relocation: $2,000-9,000
•Total Annual Salary: up to $233,000
McKinsey Engagement Manager salary (Manager-level)
•Base: $175,000
•Performance Bonus: Up to $77,000
•Profit Sharing: $30,000
•Total Annual Salary: up to $282,000
McKinsey Associate Partner/Partner/Director salary (Partner-level)
•Base: $572,000 – $1,000,000
•Performance Bonus: Up to $252,000 – $300,000
•Total Annual Salary: up to $1,300,000
Boston Consulting Group (BCG) salary
At BCG, junior Associates earn around $90,000 to $110,000 per year, while the more senior Consultants can earn up to $215,000. Project Leaders has an even higher income – around $200,000-$260,000, while Principals and Partners top the scale at $1,150,000.
BCG Associate salary (Undergraduate/Entry-level)
•Base: $90,000 (UK: £71,000, India: ₹1,600,000)
•Performance Bonus: up to $18,000 (UK: £6,000, ₹300,000)
•Profit Sharing: up to $4,500
•Retirement: Profit-sharing deposited into 401k account
•Signing Bonus: $5,000 (UK: £3,000)
•Relocation: $5,000-8,000
•Total Annual Salary: up to $112,500
BCG Consultant salary (MBA/Experienced-level)
•Base: $165,000 (UK: £90,000) (Australia: A$160,000) (China: ¥700,000)
•Performance Bonus: up to $41,500 (UK: up to £25,000) (Australia: up to A$61,500)(China: ¥260,000)
•Profit Sharing: up to $9,000 (China: up to ¥200,000)
•Retirement:$10,000 into 401k (UK: up to 9% match) (Australia: A$16,000)
•Signing Bonus: $30,000 (UK: £15,000) (Australia: up to A$40,000)
•Relocation: $2,000-8,000 (Australia: up to A$7,500)
BCG Project Leader salary (Manager-level)
•Base: $178,000
•Performance Bonus: Up to $60,000
•Profit Sharing: $28,000
•Total Annual Salary: up to $266,000
BCG Principal/Partner salary (Partner-level)
•Base: $600,000-850,000
•Performance Bonus: up to $300,000
•Total Annual Salary: up to $1,150,000
Bain & Company salary
Bain consultant salary ranges from a maximum of $122,500 for junior Associate Consultants, to a $226,500 for senior Consultants. Case Team Leaders can make up to $242,000 per year, while Managers, Partners and Principals may earn as much as $1,000,000.
Bain Associate Consultant salary (Undergraduate/Entry-level)
•Base: $90,000 (UK: £65,000, Canada: CA$80,000, China: ¥310,000, India: ₹1,800,000)
•Performance Bonus: up to $22,500 (UK: £6,000, Canada: CA$10,000, China: ¥50,000, India: ₹200,000)
•Profit Sharing: up to $10,000 (Canada: CA$5,000)
•Retirement: 4.5% of base + bonus into 401k, no contribution required
•Signing Bonus: $5,000 (UK: £3,000)
•Relocation: $5,000
•Total Annual Salary: up to $122,500
Bain Consultant salary (MBA/Experienced-level)
•Base: $165,000 (UK: £86,000, Canada: CA$160,000, India: ₹3,500,000, Germany: €103,000)
•Performance Bonus: up to $41,250 (UK: up to £20,000, India: ₹770,000, Germany: €25,000)
•Profit Sharing: up to $20,000 (UK: £6,000, Canada: CA$20,000)
•Retirement: 401k contribution up to $8,000 (UK: £10,000)
•Signing Bonus: $30,000 (UK: £15,000)
•Relocation: $8,000 for under 400 miles; $16,000 for over 400 miles
•Total Annual Salary: up to $226,500
Bain Case Team Leader salary (Manager-level)
•Base: $175,000
•Performance Bonus: up to $37,000
•Profit Sharing: $30,000
•Total Annual Salary: up to $242,000
Bain Manager salary (Manager-level)
•Base: $185,000
•Base: $185,000
•Profit Sharing: $40,000
•Total Annual Salary: up to $285,000
Bain Principal/Partner salary (Partner-level)
•Base: $400,000
•Performance Bonus: $400,000-600,000
•Total Annual Salary: up to $1,000,000
Deloitte Consulting salary
Deloitte junior consultants have a maximum annual salary of $98,000, with $85,000 as base. Senior consultants can make up to $201,000 per year.
Deloitte Analyst salary (Undergraduate/Entry-level)
•Base: $85,000
•Performance Bonus: $13,000
•Retirement: 25% match for the first 6% of individual contributions in 401k
•Signing Bonus: $12,500
•Total Annual Salary: up to $98,000
Deloitte Consultant salary (MBA/Experienced-level)
•Base: $160,000 (Toronto: C$105,000) (Calgary: C$100,000) (Mexico City: MXN700,000)
•Performance Bonus: up to $41,000 (Mexico City: up to MXN35,000)
•Retirement: 25% match of first 6% into 401k (a total of 1.5%)
•Signing Bonus: $30,000 ($20,000 contingent on signing early) (Canada: C$15,000)
•Relocation: up to $10,000
•Total Annual Salary: up to $201,000
KPMG Consulting salary
KPMG junior consultants have a maximum annual salary of $83,000, with $75,000 as base. Senior consultants can make up to $185,000 per year.
KPMG Analyst salary (Undergraduate/Entry-level)
•Base: $75,000
•Performance Bonus: up to $8,000
•Retirement: up to $7,500
•Signing Bonus: up to $2,000
•Total Annual Salary: up to $83,000
KPMG Consultant salary (MBA/Experienced-level)
•Base: $160,000
•Performance Bonus: up to $25,000
•Retirement: Match 50% (2.5%) if deposit 5% + pension contribution
•Signing Bonus: up to $45,000
•Relocation: up to $5,000
•Total Annual Salary: up to $185,000
PwC Consulting salary (Strategy&)
PwC junior consultants have a maximum annual salary of $108,000, with $90,000 as base. Senior consultants can make up to $185,000 per year.
PwC Associate salary (Undergraduate/Entry-level)
•Base: $90,000
•Performance Bonus: up to $18,000 (20% of base)
•Signing Bonus: $5,000
•Signing Bonus: $5,000
•Total Annual Salary: up to $108,000
PwC Senior Associate salary (MBA/Experienced-level)
•Base: $150,000
•Performance Bonus: up to $35,000
•Retirement: 25% match up to 6%; 1% immediate separate contribution
•Signing Bonus: $30,000 (paid at start of work)
•Relocation: up to $2,000
•Total Annual Salary: up to $185,000