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salaries in management consulting

 
#1 salaries in management consulting
20/06/2007 09:39

hapoosmango

Have just reviewed the salary report from this website. Is it what it is. I was under impression that management consultants are making a lot more! any comments?

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#2 RE: salaries in management consulting
20/06/2007 09:47

anon to hapoosmango (#1)

It's fairly accurate. Consulting is only profitable for partners.

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#3 RE: salaries in management consulting
20/06/2007 10:33

Tony Restell (Top-Consultant.com) to hapoosmango (#1)

We will be conducting the 2007 salary benchmarking exercise in July, so within the next month you'll have the chance to contribute to this and receive the very latest data.

However, I would say that the average basic salary pay rise in the last year has only been ~5%, so the figures in the 2006 report are not far off. Consultants at the very top strategy consulting firms could expect to earn 20-30% more than the figures in the report (which are an average for the industry); but even in these firms, the vast majority of employees would be earning <£100k per year basic salary.

It's only once you are winning consulting business and responsible for sizeable teams of consultants that earnings rise significantly above this - so as anon says, the big money is only for those that make it near to the top of the firms.

Hope this helps - and do look out for the 2007 survey next month.

Tony Restell (Top-Consultant.com)

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#4 RE: salaries in management consulting
20/06/2007 11:20

anon to Tony Restell (Top-Consultant.com) (#3)

I think as a grad job if you've nothing better lined up it's good money for your first job but considering what they expect of you by way of travel, hours and promotion politics, it's really not worth it in my book as a career; if money is your motivator that is.

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#5 RE: salaries in management consulting
20/06/2007 11:22

Lost to Tony Restell (Top-Consultant.com) (#3)

Tony, where do i find the survey?

tnks

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#6 RE: salaries in management consulting
20/06/2007 12:49

Tony Restell (Top-Consultant.com) to Lost (#5)

You can find the 2006 report in PDF format at:

<a href=http://www.top-consultant.com/salary_report_2006.pdf target=_blank>http://www.top-consultant.com/salary_report_2006.pdf</a>

The 2007 survey will be conducted in July and will be flagged up in our weekly newsletter. If you're not already subscribed to receive this, visit:

<a href=http://www.top-consultant.com/UK/news/weekly_newsletter.asp>http://www.top-consultant.com/UK/news/weekly_newsletter.asp</a>

Tony Restell

Top-Consultant.com

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#7 RE: salaries in management consulting
20/06/2007 19:31

DCF to Tony Restell (Top-Consultant.com) (#6)

What none of you really seem to realise is that consulting is a 'profession' for those without a real profession, such as law, the Bar, dentistry etc.

Most of you have very little training and know very little. As such your limited knowledge commands limited reward.

It never fails to surprise me how few of you (I say you, more honestly it's 'us') are unwilling to admit this.

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#8 RE: salaries in management consulting
21/06/2007 11:02

Peter Kay to DCF (#7)

HOW DARE YOU!?!?!

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#9 RE: salaries in management consulting
21/06/2007 11:29

Consulting reject. to Peter Kay (#8)

>> "..but even in these firms, the vast majority of employees would be earning <£100k per year basic salary."

Ha Ha Ha Ha. I'm soooo proud of my 2:2, and my £120k salary.

No of powerpoint "decks" produced in the last three years? 0.

Number of nights spent away from home? 0.

Level of sympathy for the elite in the consulting “space”…….take a wild guess.

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#10 RE: salaries in management consulting
21/06/2007 11:46

anon to Consulting reject. (#9)

pah, poxy little 6 figure salaries, look at me look at me. what a joke.

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#11 RE: salaries in management consulting
21/06/2007 11:52

Defending consultants to anon (#10)

All I can say to 'Consulting reject' and all other 'non-consultants'...

STOP bad mouthing consultants. if you are really not a consultant then

WHY ARE YOU ON A CONSULTANTS FORUM?!?

timewasters.

sorry to everyone else for the outburst but I'm tired of reading negative comments from so-called 'non-consultants'.

thanks

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#12 RE: salaries in management consulting
21/06/2007 13:59

Jo to Defending consultants (#11)

I'm currently in a place (2 years in post graduation) where the money clearly won't meet my expectations in a few years time.

I'm generalist/slight strategy consultant at a major full service firm but where can I go. As you rightly say, I don't know anything!

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#13 RE: salaries in management consulting
21/06/2007 14:51

Jo to Defending consultants (#11)

I'm currently in a place (2 years in post graduation) where the money clearly won't meet my expectations in a few years time.

I'm generalist/slight strategy consultant at a major full service firm but where can I go. As you rightly say, I don't know anything!

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#14 RE: salaries in management consulting
22/06/2007 08:18

anon to Jo (#13)

>>> WHY ARE YOU ON A CONSULTANTS FORUM?!?

I'm a headhunter, that's why...

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#15 RE: salaries in management consulting
22/06/2007 09:50

anon to anon (#14)

in response to above...absolutely. my outrage was more directed to people who have no association to consultancy (consultant, headhunter for consultants, etc)...

cheers

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#16 RE: salaries in management consulting
22/06/2007 11:15

Big Consultant to anon (#15)

Consulting reject, what industry do you work in and what is your role and grade?

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#17 RE: salaries in management consulting
31/07/2007 04:35

CallMeFrank to Big Consultant (#16)

Not being from the UK and with the risk of asking for the obvious, what is a 2:2 degree?

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#18 RE: salaries in management consulting
31/07/2007 19:58

Joe to CallMeFrank (#17)

2:2 aka 'a desmond' is a lower second degree. It means you averaged 50 - 60%!! If A is a 1st, B is 2:1 and C is a 2:2.

People who get 2:2's could generally have got a 2:1 but tend to be seen as lazy or dare I say it 'th*ck!

In my opinion a 2:2 is not a bad degree bit the top four ask for a 2:1 as minimum!

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#19 RE: salaries in management consulting
01/08/2007 10:53

Mars A Day to Joe (#18)

Or to give a 2:2 its full and proper title 2:2 JMATO - 2:2 just missed a 2:1, which is what everyone says about 2:2s, and everyone with a 2:1 says they just missed a first.

Having said that, having got a first, I have found it utterly useless and could have just as easily done something useful and productive like plumbing.

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#20 RE: salaries in management consulting
01/08/2007 13:04

Anon to Mars A Day (#19)

I agree. Degrees are so often just a tick in a box....

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#21 RE: salaries in management consulting
01/08/2007 14:45

Consulting reject to Anon (#20)

Still not feeling tooooo gutted by my 2:2.

Loving contracting.....loving moving up to an annual income of 180k......

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#22 RE: salaries in management consulting
21/08/2007 22:50

Dagmara to Tony Restell (Top-Consultant.com) (#3)

Is the 2007 salary report available yet? What is the link to it - apologies if it's there, it's late and I've just had a 4.5 hour client meeting!

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