Business Strategy Consultant Salary
Business Strategy Consultant Salary – Whether you’re a student or recent graduate looking for their first consulting job or you’ve already got experience under your belt and you’re looking for career advancement, there are some aspects of management consulting that you need to know.
With so many consulting firms, all offering different salary packages and career paths, your decision can be overwhelming.
Business Strategy Consultant Salary
Turning to Google seems like the logical step to take but expect to be overwhelmed by the amount of arbitrary information presented to you.
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That’s why I’ve put together a comprehensive guide comparing management consultant salaries at some of the world’s best-known consulting firms.
Maybe you don’t know where to start, or you want to optimize your preparation time with an efficient plan.
That’s why I created this free course (4+ hours of videos and 10+ templates to download) to help you get a consulting job offer.
Thus, the table below illustrates the management consulting career path you can expect to take on your journey from an entry-level analyst to becoming a partner at five of the most respected management consulting firms.
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For example, if you are a rockstar, you can make it from Analyst to Partner in less than 8 years.
On the other hand, if you’re on the other side of the spectrum, you may be dealing with an “up or out” policy. This means that if the company is not ready to promote you to the next level by the end of the generally accepted time frame, they will ask you to leave the company.
However, these are extreme conditions. Here is a table that summarizes the average number of years you should expect in each role.
The responsibilities below are broad strokes and will give you a basic understanding of what type of activities you are primarily responsible for at each level.
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The role involves extensive research and data collection of client problems along with proposed solutions. This information is organized and presented to the internal senior consultant in an engaging format such as a slide deck or PowerPoint presentation.
In addition, BAs are often tasked with creating financial models using tools such as Excel to also reinforce any recommendations.
Check your target company’s website for job opportunities. Or, alternatively, You can also find entry-level consultant jobs on Jooble.
The roles of Consultants and BAs overlap in many ways. Collecting data in some capacity is just one of them.
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However, once assigned a task, junior consultants are expected to work independently with minimal supervision to get the job done.
Senior consultants are more specialized than junior consultants and take on more leadership roles. As such, they are generally responsible for leading BA and junior consultant teams.
In addition, due to greater responsibility and the fact that they are ‘closer to the action’, senior consultants have a greater voice when it comes to internal discussions with senior leadership.
In consulting, this means that managers spend most of their time structuring the problem, managing the analysts’ individual workflows, and synthesizing them into a cohesive analysis.
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In other words, they must organize the tasks that must be done by BAs, junior consultants, and senior consultants, ensuring that the work is delivered on time and that the proposed solutions are effective.
Besides, they are the bridge between the higher principals and partners and the BAs, junior consultants, and senior consultants.
There is a saying – the closer you are to the top, the more challenging it will always be. This is true for trees.
A step up from making partner, the first year of this position is recognized as the most challenging in management consulting.
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Principals establish themselves as experts in their field or specialized industry. The role involves extensive travel and meetings with clients.
Associates are often the first point of contact during discovery calls and they also follow-up on active cases and conduct final meetings to close cases.
You now have a solid understanding of management consulting, including typical career progression pathways, and standard job descriptions at each level.
However, before you look at the numbers, keep in mind that management consulting salaries can vary by location, and job titles can vary by company.
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Therefore, I decided to focus my analysis on management consulting salaries in 2x regions: the US and France.
The average base salary for a BA in the United States is $85,000 and the average total salary is $95,000. Additional salary consists of cash bonuses.
The average base salary that BAs in the United States can expect to receive is $85,000, with a total average salary of $95,000. Additional pay includes cash bonuses, stock bonuses, dividends of profit, and commission sharing.
In the US, BAs working at Bain & Co can expect to earn $86,000 per year in base salary. The total average salary comes in at $98,000 with additional pay consisting of cash bonuses, profit sharing, and commission sharing.
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The average base salary for a BA working at Deloitte in the US is $76,000. The average total salary is $77,000 and the additional salary consists of cash bonuses, stock
Accenture offers a BA with an average US salary of $78,000. The average total salary is $79,000 with additional pay consisting of cash bonuses, stock bonuses, and profit sharing.
The average base salary for a junior consultant in the United States is $107,000 and the average total salary is $124,000. Additional salary includes cash bonuses.
The average base salary that junior consultants in the United States can expect to receive is $112,000, with a total average salary of $125,000. Additional compensation includes cash bonuses, stock bonuses, and profit- sharing.
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In the US, junior consultants working at Bain & Co can expect to earn $103,000 per year in base salary. The total average salary comes to $130,000 with additional pay consisting of cash bonuses, stock bonuses, and profit sharing.
The average base salary for a junior consultant working at Deloitte in the US is $88, 000. The average total salary is $91, 000 and the additional salary consists of cash bonuses.
Accenture offers junior consultants $100,000 over the average US salary. The average total salary is $104,000 with additional pay consisting of cash bonuses, stock bonuses, and profit sharing.
The average base salary for a senior consultant in the United States is $154,000 and the average total salary is $181,000. Additional compensation consists of cash bonuses, stock bonuses, and profit- sharing.
Boston Consulting Group
The average base salary that senior consultants in the United States can expect to receive is $157,000, with a total average salary of $186,000. Additional compensation includes cash bonuses, stock bonuses, and profit- sharing.
In the US, senior consultants working at Bain & Co can expect to earn $158,000 per year in base salary. The total average salary comes to $186,000 with additional pay consisting of cash bonuses, stock bonuses, and profit sharing.
The average base salary for a senior consultant working at Deloitte in the US is $110,000. The average total salary is $119,000 and the additional salary consists of cash bonuses and dividends. of profit.
Accenture offers senior consultants an average salary of $108,000 in the US. The average total salary is $113,000 with additional pay consisting of cash bonuses, stock bonuses, and profit sharing.
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The average base salary for a manager in the United States is $180,000 and the average total salary is $233,000. Additional compensation consists of cash bonuses, stock bonuses, and profit-sharing. .
The average base salary that managers in the United States can expect to receive is $193,000, with a total average salary of $234,000. Additional pay includes cash bonuses, stock bonuses, and profit sharing.
In the US, managers working at Bain & Co can expect to earn $165,000 per year in base salary. The total average salary comes to $222,000 with additional pay consisting of cash bonuses, stock bonuses, and profit sharing.
The average base salary for a manager working at Deloitte in the US is $141,000. The average total salary is $152,000 and the additional salary consists of cash bonuses, dividing by profit, and commission sharing.
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Accenture offers managers an average base salary of $135,000 in the US. The average total salary is $143,000 with additional pay consisting of cash bonuses, profit sharing, and commission sharing.
The average base salary for a principal in the United States is $225,000 and the average total salary is $402,000. Additional compensation includes cash bonuses, stock bonuses, and profit-sharing. .
The average base salary that principals in the United States can expect to receive is $231,000, with a total average salary of $363,000. Additional pay includes cash bonuses and profit sharing.
In the US, principals working at Bain & Co can expect to earn $219,000 per year in base salary. The total average salary comes in at $427,000 with additional pay consisting of cash bonuses and profit sharing.
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The average base salary for a principal working at Deloitte in the US
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