London Consulting Salary
I've been looking everywhere and I can't find any accurate info on the compensation you receive in consulting in the UK. Glassdoor, Youtube and some obscure threads on wso all give conflicting numbers. As far as I can tell, total comp for big 4 is around £50k and at MBB £60-70k? Could anyone shine some light on the whole comp situation in London consulting and how it compares to IB?
FYI I'm a student entering university in the UK this September, some info would be much appreciated. Thanks
Are you talking entry-level? I can tell you Bain London is at 50k base + 5k to 12k bonus + 3k sign-on bonus, so anywhere from 58k to 65k in Year 1 (2022 numbers).
Out of curiosity what is the salary like for Senior AC, Consultant, Manager etc? Is it £60-80k for senior, 90-110k for consultant and 120-140k for manager?
And how long does it take to get to each level? I'm assuming it takes 2 years to make Consultant, 3-4 years to make manager? Can you speed up the level of progression?
The salaries, not sure (only know the AC one).
As for progression, the expectation is: AC (2 years) --> SAC (1 year) --> C (2-3 years) --> Manager (1 year) --> Senior Manager (4-5 years) --> Associate Partner/Partner.
2 years on 60k is tough dude.
It would go up after one year (not sure by how much, but guessing ca. 3-5%, following US peers), and you can get promoted faster if you are above average performance. But I take your point, in London it's certainly not living large, but it is comfy enough.
how do they measure your performance out of curiosity? do they judge it solely on end of project ratings? whats average performance?
Well, the performance is measured along 3 axes:
- Teamwork: how did you collaborate with your team?
- Individual Performance: how well did you do your job on the project?
- Client satisfaction: how satisfied the client was overall?
Then, there is feedback throughout the case + at the end of the case + every 2 months among all ACs + every 6 month for you individually. So, you have tons of feedback constantly, which can feel a little much, but if you listen closely, take it in, and improve on it, gives you tons of opportunities for improvement. Personally, I'm into it, but it can feel like a lot for some people I'm sure.
Those numbers are not too far off for the base - i.e. excluding the bonuses etc which becomes much more significant the more senior your become.
Interesting, seems like about 60% of total comp of an London analyst in IB. Guess it makes sense considering the superior WLB. Are the exit ops for consulting in London any good? You know of anyone who moved onto PE for example?
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