Consulting Salaries in France

If you have a passion for a career in this ever-evolving and demanding industry and are open to working outside of Germany, the rest of Europe presents an array of thrilling prospects. We have compiled a comprehensive overview of various consulting firms' salary structures, bonus schemes, and the progression of salaries over time. It is important to keep in mind that salaries in consulting can differ significantly and are contingent upon numerous factors, including educational background, professional experience, level of advancement (such as Consultant, Senior Consultant, Lead Consultant, etc.), geographical location, gender, and additional bonuses.

Table of Content

1. Salaries in Consulting in France and Germany

When it comes to consulting salaries, it is important to consider the differences between countries. According to an analysis on the website Connexion Emploi, average salaries for entry-level professionals in the first three years of consulting in France range from 40,000 euros to 80,000 euros per year.

In contrast, a study shows that someone starting a career in management consulting in Germany can expect an average annual salary of between 50,000 and 60,000 euros. Note, however, that these numbers may vary based on company size, location, and level of experience.

The difference in wages between Germany and France can be due to a number of factors, including differences in cost of living, social security contributions, insurance, and taxes. For example, France has a highly developed social security system, which means higher social security contributions. Based on a gross salary of 45,000 euros, the diagram below shows examples and differences to compare the German and French net salaries.

Here, it is clear that despite a higher gross salary in Germany, there is more money left at the end of the month in France. Although the social security contributions in France are significantly higher than in Germany, the wage tax in France does not have such an impact. This means that, on average, 200 euros more are left in your pocket at the end of the month in France.

1.1 Salaries by Region and City in France

Salaries vary not only between countries but also within France. Here are some examples from the website worldsalaries.com for average annual salaries in some French cities:

Of course, personal factors like company size and experience level can also play a big role here. It's also worth noting that wages are highest in places where the cost of living is also higher than the national average. 

According to this chart, salaries can be up to 20% lower in comparison to the Paris region.

The graphic below shows the relationship between educational attainment and salary in consulting. It shows that a higher level of education is often associated with higher salaries in later professional life. For example, a master's degree or a doctorate can lead to higher salary brackets later in one's career, which usually means a higher salary.

However, it is important to note that education is only one factor that can play an important role. Besides that, practical experience and skills can also have a major impact on salaries. For example, several years of experience in consulting lead to corresponding salary jumps.

1.2 General Salary Structure in Comparison

The chart on salaryexplorer.com shows what percentage of employed consultants work in which salary range. The minimum is shown here as 27,900 euros and the maximum as 86,400 euros. According to this, the biggest salary jumps are to be expected within the first 10 years. More than half of the consultants in France earn in the middle range between 32,600 euros and 45,500 euros.

2. Salaries in French Consulting Companies

Now it's worth taking a closer look at the job situation in France. Based on current job advertisements, salaries and salary ranges are given here:

2.1 McKinsey & Company

McKinsey & Company, one of the world's leading management consultancies, also has a major impact in France. Salaries at McKinsey are generally competitive and very attractive. As a junior consultant, you can expect a starting salary of 52,000 up to 84,000 euros per year. As experience and responsibility increase, so does the salary. Experienced consultants can earn up to 130,000 euros in France.

2.2 BCG (Boston Consulting Group)

BCG is another prestigious consulting firm with a presence in France. Salaries at BCG are similar to those at McKinsey, and junior consultants can expect starting salaries of 55,000 euros to 80,000 euros. Experienced consultants can also earn up to 130,000 euros. In addition, BCG often offers generous bonuses and benefits.

2.3 Deloitte

Deloitte is also represented in France as one of the largest consulting firms worldwide. Starting salaries are in similar ranges to those of the first two firms mentioned:

The starting salary here is around 40,000 to 80,000. Also at Deloitte, experience and bonuses can boost salaries up to 100,000 euros. In general, salaries are subject to a wider range.

3. General Salary Development in Consulting in France

Salaries in consulting in France are subject to annual changes related to the economic situation and the global market. According to Salary Explorer research, consulting salaries have shown stable growth in recent years. On average, median salaries have increased by about 2% to 3% annually.

Comparing this development in consulting with the average salary increase in France and worldwide, it is clear that salaries in consulting have grown at an above-average rate. This is partly due to the high demand for professionals in the consulting industry.

The worldsalaries.com website also lists the average salary increases in 2023 in France, sorted by industry:

The chart shows that companies operating in large corporations and lucrative industries offer higher raises.

3.1 The Future of Consulting Salaries in France

It's difficult to predict exactly how it will develop, but some guesses can be made based on research and current trends. According to a study by the ERI Economic Research Institute, consultant salaries are expected to see similar increases in the coming years, and demand for qualified consultants will remain very high. With the current development of the French labor market and the global shortage of skilled workers, the situation is likely to improve further.

An important factor influencing payroll development is continued digitization. As new technologies and consulting methodologies emerge, the way consulting works may change and lead to new compensation structures. Advisors with digital skills and expertise in the fields of artificial intelligence, data analytics, and digital transformation are especially sought-after.

4. The Gender Pay Gap

In France, the gender wage gap persists. In France, for example, men in consulting work earn more on average than women with the same level of education and occupation. In France, this difference is smaller in the consulting industry than in other industries. Women in French consulting therefore suffer less from a domestic salary disadvantage than in other occupations.

Salaries in France, in general, experience less disparity based on gender when compared to Germany. The gender wage gap in Germany for the year 2021 was a staggering 17.6%, meaning that men earn approximately 7,000 euros more than women. In contrast, France reports a wage gap of 15.4%, which still amounts to around 6,000 euros. This equates to an additional 880 euros per year in the bank accounts of women in France compared to Germany, based on an annual salary of 40,000 euros. As a result, female consultants may find pursuing a career in consulting in France even more advantageous.

5. Types of Bonus Payments in Consulting

In addition to the base salary, many firms also offer various types of bonuses. These bonuses can add significantly to the overall salary and are often based on performance. Here are some examples of bonus payments:

• Performance bonus:
  This bonus is based on individual performance and goal achievement. The better your performance, the higher this bonus can be.
• Project bonus:
  If you are involved in particularly successful projects, you could receive a bonus based on project success.
• Profit sharing:
  Some companies offer their employees the opportunity to share in the company's profits, which can lead to additional benefits.

What makes a position attractive for good bonuses is primarily the expected performance and the value you bring to the company. Strong analytical skills, implementation-oriented approach and the ability to solve complex problems can increase the chances of receiving high bonuses.

A significant majority of consultants who are currently employed are accustomed to receiving bonuses on a regular basis. These bonuses typically range from 3% to 5% of their annual salary. Considering the average starting salary of 45,000 euros, this equates to a monetary value of approximately 1,300 to 2,700 euros.

Nevertheless, bonuses are not limited to financial compensation alone they can also encompass various other perks and privileges that hold significant appeal. These additional benefits, referred to as secondary benefits, may involve the provision of company vehicles, complimentary train passes, access to cultural venues, entry to exclusive lounges at prominent occasions such as sporting matches or music concerts, or even the chance to embark on a fully paid sabbatical.

Because it is not unusual for employees in the industry to work unpaid overtime and some companies require their employees to work over 60 hours per week, offering paid overtime or compensatory time off can be a good secondary benefit.

6. Summary

In conclusion, the main points can be summarized as follows.

The subject of 'Salary in Consulting' is intricate and diverse, encompassing a range of aspects such as salary disparities between France and Germany, bonus systems, and potential future advancements. Given the aforementioned factors, it proves beneficial to examine the adjacent country of France, particularly with regard to women.

If pursuing a career in consulting is of interest to you, it is advisable to carefully examine these factors and make an informed decision based on reliable information. You should not only consider salary structures and benefits but also other factors such as company culture, development opportunities, and work-life balance.

Thorough research and interaction with professionals and potential employers can help you get a comprehensive picture of the opportunities and challenges of a career in consulting. Based on this, you can make informed decisions and choose the career path that is right for you.