Your Consulting Salary in 2025 – Here’s What You Can Earn

“People don’t talk about money”? We do! 😊 In the consulting industry, there are plenty of numbers and rumors about salaries, but which ones are actually true? On PrepLounge, you’ll find a clear overview so you know exactly what kind of consulting salary to expect and what to keep in mind when starting your career.

An attractive consulting salary is one of the main reasons why so many top talents choose a career in consulting. Consultants bring a broad set of analytical and interpersonal skills to the table, and that should be reflected in their compensation package.

But how high is the starting salary in consulting really? How is compensation structured – base pay, bonuses, and benefits? And what are the differences between MBB, Tier-2, and Big Four firms? On PrepLounge, you’ll find not only transparent insights into consulting salaries but also everything you need to prepare for your case interviews and make a successful start in this industry.

How Is Consulting Compensation Structured?

In most consulting firms, your total compensation package includes three main components:

1. Base salary: Your fixed monthly income
2. Bonus: A performance-related or company-based extra payment
3. Benefits: Non-monetary perks such as a company phone, meal allowances, or training opportunities

Base Salary in Consulting

Let’s start with the most important question: what actually lands in your bank account each month? Your base salary is your main source of income and forms the foundation of your consulting job. It is usually paid monthly as a gross salary, meaning taxes and social contributions are deducted afterward.

The exact amount of your net income depends on your location and tax situation. Many online salary calculators can help you estimate what you will take home. In consulting, base salaries are typically standardized by position and experience level, so there is usually little room for negotiation.

Bonus for Consultants

A bonus can significantly increase your total consulting salary. It is generally tied to both your individual performance and the firm’s results, for example project success, client satisfaction, or overall profitability.

While bonuses are not guaranteed, goals are often set realistically and serve as strong motivation. As you move up the ladder, especially from the manager level onward, bonuses become an increasingly important part of your pay, linking your success directly to that of the company.

Some firms also offer a signing bonus when you accept an offer. This one-time payment can make a big difference when comparing multiple offers, but make sure to check for repayment clauses if you leave the company early.

Benefits in Consulting Firms

Beyond your salary, many consulting firms offer a generous benefits package to round out your total compensation. Common perks include:

• Mobility options (company car, public transport subsidies)
• Meal allowances or free catering
• Discounts for travel or retail purchases
• Contributions to retirement savings plans
• Childcare support and professional development programs
• Extra vacation days or relocation assistance

Since the pandemic, remote work and flexible schedules have become standard in most firms. To stay competitive, consultancies now go beyond the basics by offering perks such as workation opportunities, mental health programs, and personalized career development.
 

Factors That Influence Your Consulting Salary

Your Office Location

Whether you work in Berlin, London, or New York, your location has a major influence on your consulting salary. Local economic conditions, living costs, and demand for consulting services all play an important role. In large metropolitan areas with intense client demand and competition, salaries tend to be higher than average.

If you are flexible about where you work, you can often optimize your salary by choosing a location that matches both your career goals and financial expectations. This is especially true for international consulting firms with global career opportunities.

Here’s an overview of consulting salaries around the world:

👉 Consulting Salaries in the US
👉 Consulting Salaries in the UK
👉 Consulting Salaries in DACH
👉 Consulting Salaries in France
👉 Consulting Salaries in Canada
👉 Consulting Salaries in Singapore
👉 Consulting Salaries in Saudi Arabia
👉 Consulting Salaries in India
👉 Consulting Salaries in Australia

Your Experience in Consulting or Other Industries

Your professional experience has a direct impact on your starting salary and future earning potential. Even at the internship level, there are noticeable differences between firms. As a general rule, your salary increases with every year of experience and every step up the consulting ladder.

Experience not only pays off financially but also strengthens your expertise and credibility during the recruiting process. Internships at top consultancies or in student consulting clubs can help you stand out from other candidates. When choosing an internship, focus not only on salary but also on learning opportunities and development potential.

The Consulting Firm’s Specialization

Your area of specialization also affects how much you earn. Strategy consulting roles usually come with higher salaries compared to fields like digital transformation or sustainability. This is mainly due to more demanding projects, higher travel requirements, and exposure to senior clients.

At boutique firms such as Strategy&, Simon-Kucher, or Oliver Wyman, career progression can be faster, which may lead to higher long-term income. Your chosen focus area therefore influences not only your daily work but also your overall earning potential.

Your Academic Background

Your academic background can also play a role in determining your salary. In some regions, degrees from highly ranked universities can lead to higher offers, while in others, compensation tends to be standardized across similar positions.

Still, there are clear differences between bachelor’s, master’s, and PhD graduates. A higher academic degree can be valuable both professionally and financially. Many consulting firms also offer programs that allow you to pursue a master’s, MBA, or PhD after joining, making it easier to combine professional experience with further education.
 

Which Consulting Firm Pays the Most?

If you are wondering where you can earn the highest salary in consulting, it is worth taking a look at the leading firms. In general, the following companies offer the most attractive compensation packages:

• McKinsey & Company
• Boston Consulting Group (BCG)
• Bain & Company
• Deloitte
• KPMG
• EY (Ernst & Young)
• PwC (PricewaterhouseCoopers)

These top consulting firms differ in their salary structure, bonus policies, and offered benefits. So do not be impressed by large numbers alone. Always look at the complete package, which includes base salary, bonus, additional perks, and development opportunities.

Factors such as promotion prospects, responsibility, project types, and work-life balance should also play a role in your decision. After all, it is not only about what lands in your account at the end of the month but also about building a sustainable and fulfilling career.

👉 Find out which consulting firm truly fits you with our “Match Your Career” tool. Select what matters most to you in an employer and get your perfect match.

How and When Should You Ask About Salary During the Consulting Application Process?

No need to panic about the salary question! The good news is that in a structured interview process, salary discussions or information are usually included by the company itself. This means that, especially at larger consulting firms, you typically do not have to bring up the topic on your own.

However, it may take until the final offer stage before salary details are discussed. Consulting firms want to impress you not only with a great salary but also with exciting career opportunities and projects. After all, it should be a mutual fit, both professionally and personally.
 

Can I Negotiate My Salary as a Consultant?

In general, salary negotiations in consulting are rather uncommon. Especially at well-known consulting firms, the base salary for each position is usually standardized.

However, PrepLounge coach Francesco knows exactly where you can still get a little more out of your offer, for example in strategy consulting:

How Does Consulting Salary Differ by Career Level?

In consulting, your salary grows alongside your career. With each step up, both your responsibility and your compensation increase significantly. Consultants move through clearly defined career levels, from entry-level positions all the way to partner. With every promotion, the base salary typically increases by about 10–20 percent, while at higher levels, the jumps can be even greater.

At the beginning of your career, you will mainly support projects and take on operational tasks. As you gain experience, you will take on more leadership and strategic responsibilities. At the partner level, the role becomes especially demanding and also the most lucrative. The focus lies on client management, business development, and firm leadership. Annual compensation can exceed $500,000 and may increase significantly through bonuses and profit sharing.

As you advance, not only your salary but also your influence and market value grow. At the same time, new career paths open up beyond consulting. Many former consultants move into leadership roles at corporations, start-ups, or private equity firms. Their strategic mindset, problem-solving ability, and adaptability make them highly sought-after professionals, offering strong career prospects and excellent compensation even outside the consulting industry.
 

What Trends Can Be Observed in Consulting Salaries?

Salaries in the consulting industry are evolving dynamically, shaped by new market demands, changing expectations among young professionals, and increasing competition for talent. Consulting firms regularly adjust their compensation models to attract top candidates and retain them in the long term. Alongside traditional salary increases, flexible and attractive benefits are becoming more and more important.

• Rising starting salaries due to stronger competition for top talent
• More variable pay and performance-based bonuses
• Growing importance of benefits such as remote work, training opportunities, or mental health programs
• A stronger focus on work-life balance rather than pure salary growth

The overall trend is clearly moving toward holistic compensation. In addition to an attractive salary, flexibility, professional development, and well-being at work are becoming key factors in how consulting firms position themselves as employers.
 

More Overtime = More Pay in Consulting?

A consultant’s job requires a high level of commitment and flexibility. It is not uncommon for several extra hours per week to accumulate during client projects, and you should take that into account. So, are consultants paid for their overtime?

In practice, consultants are expected to deliver a certain level of performance. Direct overtime pay is quite rare and is often compensated in other ways, for example through additional time off between completed projects.

How PrepLounge Supports You on Your Way into Consulting

Starting a career in consulting can be challenging, from researching salaries to preparing for final interviews. That’s exactly where we come in. We support you every step of the way as you prepare for your consulting career. Whether you’re just getting started with the basics or already deep into your interview process, PrepLounge has everything you need for a successful start.

Make sure to check out these tools:

Key Takeaways on Consulting Salaries

When it comes to salaries in consulting, it’s not just about what lands in your bank account at the end of the month. In addition to your net income, benefits and other monetary and non-monetary perks play an important role. Your overall compensation depends on several factors, including your work experience, entry level, location, and the firm’s specialization.

Both major strategy firms such as McKinsey, BCG, and Bain (MBB) and the Big Four as well as well-known boutique consultancies offer attractive salary packages that can vary depending on the country and market conditions. However, salary is not everything. Make sure to consider the overall package your employer offers and ensure it aligns with your personal priorities and long-term career goals.