Management consultants make good coin. It would be silly to think otherwise. Think, 14% of Harvard’s undergraduate class go into consulting. There is a reason for that – work with smart people on difficult, fun problems. Charles Aris – executive recruiter out of North Carolina – do a great job of placing ex-strategy consultants. They are also consistently the best place to get compensation information here. These are all from 2017, with 799 data points (that’s a lot) with 58%+ coming from the big 3 (McKinsey, Bain, BCG).
Looks like the annual compensation increase for pre-MBAs was about 13%+ YoY, which does not seem that shabby, until you look at the % increases they saw between 2012-2105. Nice coin.
Consulting is a career launching pad
Take a look at these offers for post-consulting positions. 2014 MBAs leaving Big 3, then moving to VP role in private equity. Isn’t that the dream? Well done.
Great compensation for Pre-MBA
Look at this compensation range for people graduating in 2015. That’s only 2.5 years ago from undergraduate institutions. Winning.
Consulting competencies vary by level
This is perhaps the most insightful and important graphic in the Charles Aris presentation, and it deals with competencies (not compensation). This is what you need to be able to do at each level. Pay attention, this matters.
Yes, you may start off doing analytics and building slides, but quickly you move to managing projects, case cracking, and selling. Yes, it is a pyramid with finders, minders, and grinders.
What will you do after consulting?
Yes, there are many potential lucrative roles in corporate America after management consulting. Here is a sample of roles that Charles Aris does retained search for. Give them a call. These guys do great work.
