On the whole, if you're thinking about a career in consulting, you can expect to be paid well. Starting salaries range from between £30,000 and £42,000, and typically come with a range of benefits including healthcare, bike schemes, interest free loans, additional holiday and sometimes profit share arrangements.
What's more, a consultant's pay will continue to increase significantly as you progress, with consulting firm partners earning anything from £200,000+. Below we have outlined the typical starting salaries for consulting graduates to help you understand the financial implications of your choice...
1. Large consulting practices
Salaries at large consulting practices tend to start from £30,000. These can increase relatively quickly and you can expect to be earning £45,000 within two years, and £60,000 within four years.
2. Strategy consulting practices
Salaries at strategy consulting firms tend to start higher and rise more quickly than those at broader management consulting firms. A new graduate can expect to earn between £35,000 and £42,000 at firms such as these, with salaries increasing to £60,000 within two to three years.
3. Boutique consulting practices
Salaries at boutique consulting practices start from £35,000 and often come with additional financial benefits, such as profit share schemes.
Don't forget - while knowing your likely salary is important, it is just one factor when considering a role and a career.