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What is the entry-level salary at a consulting company?

I'm interested in getting benchmarks on salaries for university graduates in the United States who are going to work at major consulting companies. Is there a big range? Are there any good recent studies? #consulting #compensation

consulting compensation
Thank you comment icon You should clarify what you mean by university graduate--post college, or advanced degree? J Pan
Thank you comment icon To gain a comprehensive understanding of consulting salaries, whether it's for the MBB or the Big 4, consider using Glassdoor. It provides precise insights that can guide your decision-making process. Joseph Udofia
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Han’s Answer

I would check out Glassdoor.com, as the answer can vary a bit based on firm and location. Search for Bain, McKinsey, BCG, Deloitte... that should give you a good sample.


General guidance:
College grad (Bachelor's degree) is $60K - $80K
MBA or advanced degree grad is $100K-$150K
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Vijay’s Answer

Salary is attributed with various factors such as Location (San Francisco, Ca Vs Austin, Tx), School in which you gets graduated and company in which you are recruited. I have seen ranges between $60 K to $80 K for Post graduate students. Sometimes it might be luck to join start-up with stock option and later become IPO and gets you profitable.

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Ace’s Answer

Salary also depends on the location of the job. For example San Francisco and New York will have a higher salary, but the living cost will be also higher. For example in San Francisco, the entry level will be closer to 100K
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Steve’s Answer

A consulting firm (like an Accenture, IBM or PwC) will usually hire an Analyst level fresh out of 4 year college or graduate program. While the firm may charge a client $700 daily or $87.50 per hour as an example, the actual consultant in this case the Analyst will earn about $210 a day or $26.25 per hour. In some cases the Analyst may get a higher rate depending upon their degree or years of relevant Industry experience.

Be wary of the excessive amount of travel required of a Consultant during regular times.
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Usman’s Answer

Hey Jared,

Definitely check out Glassdoor,com as it provides details based on level and region.

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Steve’s Answer

As you look at the Consulting roles, I break them down as Partner, Sr. Consultant, Consultant, Analyst and Jr. Analyst. So on the entry end you are looking at an Analyst role. If you are working for a tier 1 Consulting firm they may bill that person out at $750 per day (8 hours), so then after a 45% mark-up I would say that an Analyst earns about $45-$55 per hour gross or about $95K per year to start. This can vary depending upon your degree programs and whether you have a graduate degree (MBA for example).

Enjoy the Consulting life!
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debra’s Answer

Salaries for university graduates working at major consulting companies in the United States can vary significantly depending on factors such as the consulting firm, the graduate's level of education and experience, the specific role or position, and geographic location. However, there are some general benchmarks and recent studies that provide insights into typical salary ranges in this field.

Management Consulting Salaries: According to data from websites like Glassdoor, Payscale, and Indeed, entry-level consultants at major firms such as McKinsey & Company, Boston Consulting Group (BCG), and Bain & Company can expect starting salaries ranging from around $80,000 to $90,000 per year. However, these figures can vary based on factors like the graduate's degree level (e.g., bachelor's vs. master's), the specific office location, and bonuses or other compensation benefits.

Consulting Industry Reports: Industry reports and surveys conducted by consulting firms, professional associations, or market research firms may provide more comprehensive insights into salary trends and benchmarks for consulting professionals. For example, consulting industry reports from organizations like the Management Consulting Association (MCA) or the Consulting Salaries report by Management Consulted may offer detailed salary data and analysis for different consulting roles and experience levels.

University Career Services: Many universities and colleges publish salary data and employment statistics for their graduates, including those who enter consulting careers. University career services offices often collect and analyze salary information from alumni surveys or employer reports, which can provide valuable insights into typical salary ranges for graduates entering consulting roles.

Professional Networking and Online Communities: Engaging with professional networks, online forums, or social media groups for consulting professionals can also provide anecdotal insights into salary ranges and compensation trends. Websites like Reddit's consulting community or LinkedIn groups for consulting professionals may feature discussions or posts about salary benchmarks and compensation negotiations.

It's important to note that salary ranges for consulting roles can vary widely based on individual factors and external market conditions. Additionally, compensation packages may include components beyond base salary, such as signing bonuses, performance bonuses, stock options, and other benefits. Consulting firms may also offer additional perks such as reimbursement for travel expenses, professional development opportunities, and flexible work arrangements. Therefore, consulting graduates should consider the full spectrum of compensation and benefits when evaluating job offers and negotiating salary packages.
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J’s Answer

The major consulting firms usually have a similar range in terms of salaries. Do you mean university graduate as post-college or post-MBA/JD/MD/PhD? Typically post-college salary are around $60K and post-MBA/JD/MD/PhD (advanced degree) salaries are around $140K.


I'm not aware of any recent studies.
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Vic’s Answer

It depends on location, schooling, alignment w/i the firm. I would create a template and post it in fishbowl to have current consultants to populate. Each firm may have a different model ex: PwC has a cohort model.
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