With redundancies and bad financials predominating in the consulting press these last months, would any fellow consultants care to shed some light on what salary rises/ bonuses you have seen within your organisation this last year? Would be great to get enough responses to have a representative sample... or does anyone know of any surveys where I can learn how I'm faring in the current market?
well it varies a lot.... depending on a few imp things
1. which consulting firm (the B&M's, IT, Big 5 etc)
2. Work experience (# yrs) - and level
3. If a recent grad - school..etc
4. Location, Location, Location
Try the following website:
KPMG LLP - they still have a consulting arm although they cal then the Information Risk Management Group (recently changed named to RAS - Risk Advisory Services) is hurting real bad. They are letting go of a lot of people. They focus work on information security and one would think they would be doing very well - not the case - specially the US-southwest region - no projects period. this comes from top management which has not been able to generate any business and a current ratio of 1:1 in managers to to staff. Needless to say they will be giving out no bonus and no salary increases and are rather comtemplating a salary reduction.
PA Consulting hasn't seen any consultant redundancies. Pay rises for high performers were limited to about 8% (normally up to 15%) and bonuses in profitable practices for non-partners were as high as 100% of basic (average about 40%)
Did I misunderstand or is someone alleging that salaries can go up as well as down? And what ARE the 'bonus' things?
general pay freeze, although limited pay rises (4%) for high performers.
as much as a reflection of the state of our business as the market
Didn't do too badly last year (think circa + 25%). In fact have rather enjoyed (in a morbid/sadistic sort of way) watching Accenture grads (and the rest of the big 5/ IT industry) suffer. For those of us in medium sized consultancies with specialist focus the past year has been great.
No longer do I have to put up with recently graduated MBA students who understand very little about the business of consultancy when I am at a client site. Life is certainly becoming smoother (in terms of demand across the year), but is requiring a lot more effort/innovation.
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