| Management consultants’ pay rises more elusive than bonuses |
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| | Pay rises averaged just
3.6% of basic salary -
for those who received
any pay rise at all in
the last 12 months -
down from 6% in 2007,
the latest salary
benchmarking report from
Top-Consultant.com
finds.
Unsurprisingly the
global recession has
affected remuneration
for management
consultants, however,
the latest salary
benchmarking report from
management consultancy’s
premier jobsite,
Top-Consultant.com,
suggests that while
bonuses in 2009
continued to be paid on
a par with previous
years, pay rises have
evaporated for almost
half of consultants.
Now in its third
edition, the biannual
report surveyed close to
700 management
consultants from May
through July of 2009,
collecting data on basic | |
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| | salary, pay rises,
benefits and bonus
levels.
In the face of the
global recession and
consequent downward
pressure on utilisation
and charge out rates,
the report confirms that
firms have reacted by
limiting salary
increases and bonus
payments.
Pay rises averaged
just 3.6% of basic
salary, for those that
received a raise, with
46% of respondents
receiving no raise at
all. This is down from
6% and 26% respectively
as reported in 2007.
Bonuses averaged
13.4% of basic salary,
again only for those
that received any bonus
at all. Though this is
close to the 2007 figure
of 13.5%, at that time
67% of respondents
received a bonus, that
figure has now fallen to
just 61%.
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The likelihood of not
receiving any bonus at
all has increased
significantly over the
last two years for those
at more senior levels.
The report also
includes commentary from
leading recruiters about
trends in management
consultant remuneration.
Though predominantly
from full-service global
brands such as
Accenture, Capgemini,
Deloitte and PA
Consulting Group, survey
respondents also
included representatives
from both niche and
top-tier strategy firms
such as Booz & Company,
The Boston Consulting
Group and A.T. Kearney.
The full report is
available free of charge
to download
here.
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