Charles Aris is an executive recruiter out of North Carolina that all consultants are Linkedin. They have a great track record of placing ex-consultants in great roles. Here is their annual compensation survey here. This came from 500+ consultants at the big 10 firms; largest # of responses from BCGers. Look at this salary. Their methodology changed, but this is the most credible resource out there. Here are some highlights:
2014 MBAs making $270K?
Money is not everything, yet, it does help keep you warm in the winter. MBAs from 2014 reported a median salary of $202K + $68K bonus. St deviation of $42K, so there’s upside in that number.
17% Pay raise in 2018, for post-MBA
So, this seems fantastical, but post-MBA pay raises were 17% on average last year. Look at this year-over-year pay raises for top-tier strategy consultants. So, I got a raise the last two years – and trust me – they were not 9% and 17%. Yes, the economy is still doing well. Consulting is still doing well.
Consulting gives you optionality
Charles Aris does a great job placing ex-consultants. Here is a short list of recent placements for MBA, and BBA ex-consultants. These are not shabby, but wait for the next few slides.
What’s after consulting?
There are so many cool, and lucrative jobs out there. It’s an enormous opportunity to put your smarts, curiosity, energy, network, and executive presence to good use. Once again, take a look at their report here.
What do consultants do?
For those new to consulting or as a refresher, here is a great slide that has nothing to do with compensation. This is what consultants do at different levels of the leverage pyramid.
Focus on inputs
Remember team, we gotta stay focused on inputs (what you control). Not making $350K a year – don’t dwell on that. Dwell on what you control. . . being a better version of you, getting your boss promoted, finding ways to add value to more people, getting famous for great work. Someone smarter than me said, “you gotta practice being rich.” Money just makes you more of who you already are (both good and bad). Keep going.
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