Consulting salaries for freshers: Entry level salary in USA, UK, India, Germany, Australia

Consulting salaries for freshers

‘Consulting’, especially management consulting continues to be a dream job to many! Though it is considered very demanding, the glamour, prestige and perks associated with the profession make it one of the most sought-after career option.

Several top MBA program graduates have their eyes set on reputed consulting firms like MC Kinsey & Co., Bain & Co., Boston Consulting Group (MBB). Also known as ‘The Big Three’, having these names on your resume can give you bragging rights for a lifetime.

These three have constantly retained the top three positions in the ‘Vault Consulting 50 ranking’ for companies in North America.
 

Consultant’s role in an organisation

Consultants are hired to provide an external unbiased perspective. They bring to the table specialised skills that may not exist within a company. They may be hired for a short term to provide fresh innovative ideas to help companies tackle existing problems, take difficult decisions, improve efficacy and increase profitability. Consultants are required to do extensive market research, conduct employee interviews, pinpoint the problem areas, suggest recommendations and help in its implementation.

Entry-level consultants are required to spend considerable time doing research and data gathering, making PowerPoint presentation or working on Excel spreadsheets. Analytical skills and problem solving abilities form the essence of a consultant’s job. Excellent communication skills would be an added advantage while making recommendations to clients and being able to convince them.

Each project could be challenging yet an immense learning experience. The chance to interact with a wide variety of clients (from various industries and functions) including C-suite executives would help build a powerful network. The work would involve lots of travel, depending on the client’s location. Work pressure due to specific deadlines would be an integral part of the job. Compensation would vary, depending on your experience level, qualification, your position and the company you work for. Senior positions would offer enviable packages.

Read more on introduction to consulting.

Also find out more on types of consulting.

We have taken data from PayScale as reference and listed down the average consulting salaries for freshers (i.e. newly minted graduates). Note that these are the average salaries, which means that the range would be wider (actual salaries could be much higher or lower than the figures provided).
 

Entry-level Consulting Salaries for Freshers

 

Average annual consulting salaries for entry level jobs in India

Job description Average annual salary
Management Consultant Rs 789,963
Strategy Consultant Rs 840,676
Business Consultant Rs 635,273
Software Consultant Rs 558,216
Information Technology (IT) Consultant Rs 581,235
Technical Consultant Rs 504,176
Risk Management Consultant Rs 700,265
ERP Consultant Rs 476,226

 

Average annual consulting salaries for entry level jobs in the US

Job description Average annual salary
Project Management Consultant $69,206
Management Consultant Salary in Los Angeles, California $84,454
Business Consultant $71,670
Technical Consultant $68,092
Software Consultant $66,998
Information Technology (IT) Consultant $65,714
Strategy Consultant $82,297
Risk Management Consultant $65,819
Financial Consultant $59,856
Healthcare Consultant $69,129
Human Resource Consultant $63,473

 

Average annual consulting salaries for entry level jobs in the UK

Job description Average annual salary
Management Consultant £39,319
Business Consultant Salary in London, England £36,213
Strategy Consultant £45,000
Risk Management Consultant £38,170
Financial Consultant £32318
Business Consultant £35,260
Information Technology (IT) Consultant in London, England £35979
Technical Consultant £29867
Human Resources (HR) consultant ₤32,000

 

Average annual consulting salaries for entry level jobs in Australia

Job description Average annual salary
Management Consultant AU$73,204
Business Consultant AU$65,317
Strategy Consultant AU$65,795
Risk Management Consultant AU$78,651
Financial Consultant Salary AU$62,310
Information Technology (IT) Consultant AU$63,930
Technical Consultant AU$66,819
ERP consultant AU$62,098
Human Resources (HR) consultant AU$70,066

 

Average annual consulting salaries for entry level jobs in Germany

Job description Average annual salary
Management Consultant €56,394
Business Consultant €51,125
Project Management Consultant €53,774
Strategy Consultant €43,328
Information Technology (IT) Consultant €47,170
Technical Consultant €48,176
Software Consultant €50,090
ERP consultant €49669
Human Resources (HR) consultant €33,815

Read more on best consulting firms – Technology, Finance, HR.

Also read best strategy consulting firms – Management Consulting.
 

How can you enter the consulting industry?

Consulting firms recruit at both the undergraduate level and also from the top business schools in significant numbers. An undergraduate would be hired for the position of a business analyst; the resourceful ones manage to climb up the ladder to the position of an associate without an MBA. MBA graduates are usually hired for the associate position.

Find out more about the top consulting firms in the world.

Also read management consulting interview questions.
 

Which is the best degree to get into consulting?

An MBA is widely regarded as the best degree to get into consulting. And it’s not without reason.

An MBA hones your business knowledge, interpersonal and teamwork skills and provides you with a wider perspective of various industries and functions. Experiential learning, case interviews provide exposure to various business issues and provide insights to tackle various business challenges.

In addition to the courses which prepare you to face the consulting world, you also have access to the school resources. The school careers team’s network and the good relationship that they’ve built with various consulting firms over the years can be of immense help.

The alumni network can also be tapped into. The internship opportunity can be made use of in getting your foot in the door into the consulting industry.

The top MBA programs have in fact become hot spots for consulting recruitment. INSEAD has topped the list with a total of 52% going into consulting (36% new recruits and 16% continuing in the same industry), Kellogg saw 30% MBA grads enter consulting, for Columbia Business School, it was 33.6%. Find out more about the best business schools for consultant jobs.

While applying to MBA programs, make it a point to check the program’s employment report to get an idea of the consulting firms that have recruited there in the past and the number of candidates who get placed into consulting. Also dig out more information from alumni and other resources about the support and guidance you’d receive from the school careers team in the recruitment process.

Find out more about Management Consulting salaries and career growth after MBA.

Also read some of the Best Management Consulting books.

Data Source: payscale.com


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Swati //
Swati
After working for over a decade in technical and managerial roles in the corporate world, Swati now works as a freelancer and writes on a variety of topics including education, career guidance and self-improvement.

6 Comments

  1. Aniket Pagar says:

    Hi, I am Aniket,
    I have done my Mtech in Control systems and having 2 years experience as a software developer(C++) in a product based company(Telecomm), as I am not getting good exposure to do good things here,
    please suggest me about PhD / MBA / MS in the USA.
    will PhD help me to build my knowledge
    Thanks,
    Aniket

  2. Mehraj Khan says:

    Hi
    I have completed my pgdm marketing 2018 pass out from tier 2/3 college currently working in fmcg with 1year experience, Planning to do executive 1 year MBA in next couple of years. Is it good to have a mindset to study again MBA in india maybe in ISB or IIM.Please help me out.

  3. Yugesh says:

    I am just 25 years old ,i have completed my bsc computers in 2013 and mba in 2015 and working as a marketing professional form past 3 years ,i want to do ms program can somebody help me
    1) can i apply for ms program?

  4. ishani says:

    hi…i am Ishani.i work in government sector for aroun d 3yrs now and want to pursue mba abroad in Singapore ,USA &UK.Which courses are having high probability of job opportunities abroad

  5. sonu says:

    Dear Sameer,

    MBA from Middlesex University London with integrated placement is good career choice ? and after completing MBA from uk is it easy to get good annum pay job in india

  6. Sameer Kamat says:

    @Aniket: A Phd will help you build deep knowledge in a very narrow niche. There are pros and cons of that. Read more about it here: https://www.mbacrystalball.com/blog/2017/03/24/phd-worth-it-or-not/

    @Mehraj: Most MBA grads from India (including those from ISB and IIMs) go for a second MBA from iternational businesss school. We’ve covered all about second MBA applications here: https://www.mbacrystalball.com/blog/2017/02/15/second-mba-abroad-after-iim-isb/

    @Yugesh: Yes you can apply for an MS after MBA. But you’ll need to demonstrate a strong rationale for the same, since it’s more common to go for the reverse i.e. an MBA after MS.

    @Ishani: We’ve collated a list of the best universities for placements here: https://www.mbacrystalball.com/blog/2018/08/17/best-universities-placement-usa/

    @Sonu: It’s not a well-known program for MBA. Read more about the value of a foreign MBA in India: https://www.mbacrystalball.com/blog/2016/05/20/value-foreign-mba-india/

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