Lifetime earnings of a consultant

I've had the same question on my mind. Also, do the hours get any better? How much of a salary hit do people take when they exit out?

I am wondering the same thing. The position I will probably be accepting tailors my wanders straight to this point exactly too... Can a specialist hit this...

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partners at elite firms make very good money. if you google big4 advisory partner compensation...many hits are between the 800k-1mil range. not sure how accurate these sources are

it doenst compare to senior levels in banking/buy-side , if that is what you have in mind.

It's not like PE and banking, but aside from that, it's extremely high... you may never get that G6 you've been eying, but summer homes in the hamptons and vacations in the south of France are a go!

The other thing is that people who do well at MBB can move into PE and make huge money, or move into industry and make huge money as a CEO or other top dog at a huge firm...

i can tell you if you want to do consulting for money you wont make it to partner

you can make much more in banking

op, you should also keep in mind that making it up to director, managing director, partner, etc. is very difficult. not everyone makes it up there

Consulting is another winner-takes-all industry where most of the earnings accrue to the top. As an associate at a non-MBB where you might be allowed to linger for 5-10 years before your skills become "incompatible with the market needs," you will top out around 130-200, really depending on group, geography, and your own quals. After that you'd be smart to move on to industry where you might get a small bump.

As with anything else if you want to be one of those winners taking all, you need to know how to (1) build business and (2) socialize with the higher-ups so that you are not invisible if they think of doing an internal promotion.

how long does it usually take to make partner at mbb, if you're coming from within and not recruited from outside? ie, how old are you before you're making that cool $1 million? also, do the hours ever get any better than the roughly 70 that you work as an associate?

7-10 years to make partner.

@ ivoteforthatguy

is that 7-10 years starting from out of undergrad or out of mba? ie, 30-ish or 35-ish?

Op here, @consulted. I'm considering consulting because it seems to be more aligned with my interests than banking and you can make great money. But for me, coming from a solidly middle class home, great money is 250k.