* The most recent 'Salary Benchmarking Report' from Top-Consultant and Mindbench. A recent international study shows that for exactly the same level (junior consultant) and role (Finance) the Big 4 firms pay slightly more than other large peers (mid-sized professional services firms, large IT consulting firms) and nearly 5% more than mid-sized management consultancies. Differences remain throughout a consultant's career path, although they according to the data diverge, mainly the result of an increasing importance of variable-based pay. View consultancy jobs across more than 40+ areas of expertise. I can help you find out what you should be paid. Originally Answered: what's a typical daily rate for a management consultant in dubai? Data shows that junior consultants employed by the leading strategy consulting firms earn substantially more than their peers in operations consulting (+30%) or project management (+25%). This could vary from hourly, to daily, to project-based prices. Firm type, region and moreAnother factor that has an impact on the height of salaries and benefits is the type of employer. To properly compare remuneration an integeral view should be taken to ensure all elements are included. Strategy firms to offer jobs to interns impacted by lock-down, EY offers virtual internships due to Covid-19, The best workplaces in the UK consulting industry, The top UK universities for management consulting, The top priorities and trends for finance executives, Q&A with Jillian Moore, Avanade's Global Advisory leader, An approach for creating exceptional customer experiences, Rescuing steel tycoon Pramod Mittal who owed £2.5 billion, Global professional services firm Mazars refreshes its brand, Moira Grassick leads Irish division of Peninsula Group, Alpha FMC launches ESG & Responsible Investing practice, Pete Acloque joins BDO as partner in its resources and energy team. It is worth considering how long you wish to work with a business consultant, as well as how frequently you work with them. Setting your freelance rates is difficult. A third factor is geography. View consulting firms that offer services in a specific functional area. According to recruitment firm Beament Leslie Thomas consultants in the London area earn the most, while peers in for example Manchester or Birmingham are paid on average 5% less. Note that daily and hourly rates are treated separately in these statistics. Although data in the UK is not available, recent studies conducted abroad reveal that on average male consultants in every level earn more than their female counterparts. If the consultant on a full-time basis would generally make $350,000/year, their rate will be quite a bit higher than a consultant who Select an industry from 40+ different sectors. In addition, consulting firms are increasingly adopting non-financial incentives that can largely benefit the well-being of consultants. The bonus of a junior consultant on average represents 4% of the basic salary, for partners the percentage rises to 12%. Although remuneration data such as salary, benefits and bonus does not lie out in the open, there are a number of sources that regularly conduct research in the field (typically recruitment firms specialised in the industry and/or analyst research firms). For the 6 months to 2 November 2020, Management Accountant contract jobs required the following IT skills in order of popularity. When calculating contractor rate percentiles, daily rates are never derived from quoted hourly rates or vice versa. Scotland is from a remuneration perspective the least attractive area in the UK, salaries are 88% of the London baseline, a statistic that was recently also recognised by a recent salary survey from Michael Page. Search within the more than 500 consultancy jobs on Consultancy.uk. The first table below provides contractor rate benchmarking and summary statistics including a comparison to same period in the previous 2 years. The table below looks at the demand and provides a guide to the median contractor rates quoted in IT jobs citing Management Accountant within the UK over the 6 months to 2 November 2020. Consultancy.uk works with 50+ leading consultancies in the UK. View consultancy jobs across more than 40+ industries. An overview of estimates on salaries and benefits*: The data reveals that average total salaries in the UK consulting industry range from roughly £44,000 for junior consultant to just under £170,000 for partners. Follow wage changes of U.S. workers over time. Improve your chances of receiving a raise when you ask. For example, at Manager level the differences between remuneration are significantly smaller across the main areas. 3-month moving average daily rate quoted in jobs citing Management Accountant. Contract jobs requiring a Management Accountant, As % of all contract jobs advertised in the UK, Contract vacancies in the UK with a recognized job title, % of contract IT jobs with a recognized job title. Most job vacancies include a discernible job title that can be normalized. The follow tables expand on the table above by listing co-occurrences grouped by category. The median contractor rate for a Management Accountant was £295 per day in advertised job vacancies during the 6 months to 2 November 2020. View events for professionals and graduates organised by consulting firms. 3-month moving average hourly rates quoted in jobs citing Management Accountant. Lasse Lund, manager in Deloitte’s customer management practice, who won the 2013 performance consultant of the year and overall consultant of the year in the Management … On average additional benefits represent nearly 10% of the basic salary The 'Rank Change' column provides an indication of the change in demand within each location based on the same 6 month period last year. How the salary history question affects pay equity. View consulting firms that offer services in a specific industry. The formula for a winning company culture. What your skills are worth in the job market is constantly changing. Use our tool to get a personalized report on your market worth. In addition, there is a large variety in remuneration across the advisory industry, depending on a range of factors such as the type of firm (business model, performance management system), the type of industry/service area a consultant is working in and individual performance. Some rights reserved. Understand what's truly driving the gender pay gap. Basic salaries are hardly communicated in job ads, and in addition consulting firms tend to tightly hold back details over their benefits & rewards packages during recruitment events and job application procedures (until the last round). One of the key explanatory factors is the type of services – as a general rule of thumb: the more prestigious a firm and/or consultant role, the higher the pay. Management consultant from a big firm: Upwards of £2,000 per day. On average additional benefits represent nearly 10% of the basic salary, while bonuses equate to 7% of salaries, although the bonus % rises gradually as consultants grow through the ranks. The survey is based on the input from 734 consultants based in the UK across all levels and service areas. The gender pay-gap increases as consultants progress through the ranks, although this too can be explained by among others differences in work-life attitudes and the design of performance management systems. Select a theme out of 20+ different topics. Which alumni earn the most after graduation? Do you know what people like you are earning? The management consulting industry overall tends to have a relatively low transparency in the area of remuneration policy. Select a service from 40+ different areas of expertise. Freelance rates can be hard to figure out and one of the main things people ask before they go freelance is how to work out their freelance consultant rate. Business Consulting - Hourly Rate - Get a free salary comparison based on job title, skills, experience and education. Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License. This is definitely the case with larger organizations – regarding having a set fee they pay consultants for a daily rate. Contracts typically also include other financial aspects such as holiday allowance, private health coverage, pension contribution schemes and lease agreements. Stay up to date on the latest compensation trends. Job postings that featured Management Accountant in the job title as a proportion of all IT jobs advertised. The figures indicate the absolute number co-occurrences and as a proportion of all contract job ads featuring Management Accountant in the job title. Choose out of 50+ leading consultancies. The data reveals that average total salaries in the UK consulting industry range from roughly £44,000 for junior consultant to just under £170,000 for partners. Salaries per market segmentAs mentioned above, salaries of consultants differ widely. Find your market worth with a report tailored to you, Industries in the same category as Business Consulting, ranked by hourly rate, Interior Painting and Decorating Services, Industrial Machinery and Equipment Repair and Maintenance, Business Research, Analysis, and Advisory Services.