Dreaming of a career in management consulting in the United Kingdom but unsure which firm is the best fit for you – or how much you can actually earn as a graduate?
Then you’ve come to the right place! This article gives you a complete overview of consultingsalaries in the UK, from entry-level analyst pay to compensation packages at top firms such as McKinsey, BCG, and Deloitte. With this information, you’ll be able to make a well-informed decision about which consulting career path suits your goals best.
Understanding How Entry-Level Consulting Salaries Are Structured
Entry-level salaries in management consulting in the United Kingdom are among the most attractive for graduates, so it’s no surprise that many students aspire to start their careers in consulting. Before you celebrate your first offer, it’s worth taking a closer look at how compensation is structured. Consulting salaries typically consist of several fixed and variable components, which can vary significantly depending on the firm and your performance.
Below, you’ll find an overview of the key elements that make up your total consulting salary and what you should pay attention to when starting your career.
Base Salary in Consulting
The base salary is your fixed and reliable monthly payment. It forms the foundation of your income and varies depending on the firm’s size and brand reputation. Well-known consultancies such as Roland Berger, Deloitte, or Kearney usually offer higher starting salaries than smaller or boutique firms.
Performance Bonus
The performance bonus is a variable part of your compensation that can significantly increase your total pay. The amount typically depends on factors such as:
Bonuses are usually paid quarterly or annually and are designed to reward high performance and motivate long-term success. Keep this in mind when evaluating your total compensation package.
Signing Bonus
Many consulting firms in the UK offer a signing bonus, a one-time payment at the start of your employment. It serves as an incentive to accept an offer and join a particular firm.
While base salaries are often less negotiable, you can sometimes negotiate the signing bonus, especially if you have multiple offers. Be sure to check for repayment clauses, as some firms may reclaim the bonus in full or in part if you leave the company early.
Relocation Bonus
If you need to move for your new role, many consultancies provide a relocation bonus, sometimes even for interns. The amount depends on the distance of your move and whether you’re relocating internationally. If a relocation bonus isn’t included, you may be able to negotiate a higher signing bonus instead.
Additional Benefits
In addition to salary, consulting firms often provide a range of employee benefits, such as:
private health insurance and pension plans
paid holidays
work equipment (laptop, smartphone)
company car or travel card
professional development and coaching opportunities
These benefits can have a major impact on your overall satisfaction and well-being, so make sure to consider them as part of your total compensation package.
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What Factors Influence Your Total Compensation in Consulting?
Your total compensation in management consulting depends on several key factors that shape how much you can earn throughout your career.
Your Education: The higher your level of education, the better your chances of securing an above-average starting salary. Master’s and MBA graduates, in particular, tend to earn more, as consulting firms reward specialised expertise and advanced knowledge.
Location of the Consulting Firm: Your salary can vary significantly depending on where you work. In cities with higher living costs, such as London or Edinburgh, firms generally offer higher pay to offset expenses like rent and transport. In smaller cities, salaries are often lower, but the cost of living is too.
Prestige and Size of the Firm: Large, prestigious consultancies such as McKinsey, BCG, or Bain (MBB) typically offer higher salaries and more generous bonus structures than smaller boutique firms. This is because they operate globally and manage more complex, high-value projects.
Role and Specialisation: As an entry-level consultant, you’ll usually start with an analyst or associate salary. As you gain experience or specialise in areas like digital transformation, sustainability, or data analytics, your earning potential can increase significantly.
Which Consulting Firms Pay the Highest Salaries in the United Kingdom?
Entry-level consulting salaries in the United Kingdom vary significantly depending on the firm. The top strategy consultancies McKinsey, BCG, and Bain (MBB), as well as the Big Four – Deloitte, KPMG, PwC, and EY – are particularly well known for offering competitive pay packages and fast promotion opportunities.
Alongside these leading firms, there are also Tier-2 and boutique consultancies that specialise in specific industries or topics. These firms often offer attractive career paths and competitive salaries, making it worth comparing options to find the company that best matches your personal goals and priorities.
Salaries at McKinsey, BCG, and Bain (MBB)
The MBB firms are the most prestigious consulting employers in the UK, renowned for their high-calibre strategic work and exceptional compensation. Below is an overview of starting salaries for graduates with a Master’s degree at MBB in the United Kingdom:
Firm
Base Salary
Performance Bonus
Total Compensation
McKinsey
£50,000
up to £8,000
up to £60,000
Bain
£52,000
up to £11,000
up to £63,000
BCG
£49,500
up to £7,000
up to £60,000
Among these firms, Bain offers the highest overall pay package for new graduates in the UK. With a base salary of around £52,000 and potential bonuses of up to £11,000, the total compensation can reach £63,000, slightly ahead of McKinsey and BCG, which both sit around £60,000.
MBB Salaries for MBA and PhD Graduates
For MBA and PhD graduates, the MBB firms offer some of the most attractive compensation packages in the UK consulting industry. They recognise the value of advanced degrees and reward them with higher pay and faster career progression.
Firm
Base Salary
Performance Bonus
Total Compensation
McKinsey
£90,000
up to £15,000
up to £105,000
BCG
£93,000
up to £17,000
up to £110,000
Bain
£97,000
up to £20,000
up to £117,000
Here again, Bain leads slightly, offering a base salary of about £97,000 and total compensation of up to £117,000, surpassing both McKinsey and BCG.
Salaries at the Big Four (Deloitte, EY, KPMG, PwC)
The Big Four – Deloitte, EY, KPMG, and PwC – dominate the UK’s professional services sector, providing audit, tax, and consulting services. They are known for their global networks, strong training programmes, and competitive graduate pay.
Firm
Base Salary
Performance Bonus
Total Compensation
Deloitte
£50,000
£4,000
£54,000
EY
£43,000
£1,500
£44,500
KPMG
£41,000
£1,500
£42,500
PwC
£47,000
£2,500
£49,500
Among the Big Four, Deloitte currently offers the highest starting salaries for consulting roles in the UK, followed by PwC. EY and KPMG offer slightly lower pay but often include additional benefits such as training programmes, international mobility opportunities, and structured career development that enhance the overall package.
Tier-2 and boutique firms such as Accenture, Kearney, and Oliver Wyman play a key role in the UK consulting market. Tier-2 firms provide a wide range of consulting and advisory services, while boutique consultancies tend to specialise in specific industries or functions. Although they may have smaller global footprints compared to the Big Four, they are valued for their deep expertise and personalised approach.
Among boutique consulting firms in the UK, several stand out for offering exceptionally high total compensation. OC&C Strategy Consultants, in particular, distinguishes itself with a performance bonus of up to £10,800, placing it among the top three highest-paying consultancies in the country. This figure is well above the average bonus range of £2,700 to £5,200 offered by most other firms.
However, it’s worth looking beyond salary alone. Factors such as company culture, specialisation, work-life balance, and development opportunities are equally important when choosing the right consulting firm for your career.
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How Location Affects Consulting Salaries in the United Kingdom
Your salary as a consultant in the UK depends heavily on where you work. Regions with a high concentration of consulting firms – especially London and the South of England – tend to offer higher pay than smaller cities or rural areas. However, the cost of living in these regions is also significantly higher, which can impact your real purchasing power.
Regional Comparison of Consulting Salaries in the United Kingdom
Region
Salary Range
UK (overall)
£45,000 – £80,000
England
£50,000 – £70,000
Scotland
£48,000 – £68,000
Northern Ireland
£25,000 – £68,000
Wales
£34,000 – £88,000
The highest consulting salaries are found in England, particularly in the South and Greater London, where many international consulting firms and top clients are based. Scotland, with cities like Edinburgh, offers attractive opportunities with slightly lower but stable pay. Northern Ireland and Wales are growing markets, especially in tech consulting and public sector advisory, providing strong entry-level opportunities.
City Comparison of Consulting Salaries in the United Kingdom
City
Salary Range
London
£44,240 – £71,281
Birmingham
£38,584 – £65,744
Edinburgh
£43,266 – £61,593
Manchester
£41,720 – £67,644
Unsurprisingly, the highest consulting salaries are found in London, home to major strategy firms and international clients. Birmingham, Edinburgh, and Manchester offer slightly lower salary ranges but compensate with lower living costs, strong economic growth, and increasing importance as consulting hubs – ideal for those seeking a balance between career opportunities and quality of life.
How Consulting Salaries Grow With Experience
As consultants gain more experience and develop specialised expertise, their salaries rise accordingly. Those who build deep knowledge, take on greater responsibility, and deliver measurable value for clients can expect regular pay increases and performance-based bonuses.
Senior consultants and experienced project leaders earn significantly higher salaries because they manage larger client projects and play a key role in driving firm growth. Experience, proven performance, and specialised skills are the main drivers of long-term salary development in consulting.
Let’s take a closer look at what that progression typically looks like along the consulting career ladder:
Job titles and responsibilities can vary slightly between consulting firms.
Let’s take a look at the typical career levels in consulting in the United Kingdom and how salaries differ based on experience.
Career Level
Salary Range
Average Total Compensation
Average Additional Pay
Junior Consultant / Entry-Level Position
£34,000 – £70,000
£50,000
£4,000
Experienced Consultant
£65,000 – £100,000
£83,000
£5,500
Senior Consultant / Manager
£92,000 – £125,000
£110,000
£6,029
Project Leader / Principal / Director
£120,000 – £165,000
£143,000
£25,852
Partner / Managing Director
£125,000 – £757,000
£440,000
£99,151
Salary as a Junior Consultant / Analyst (Entry-Level Position)
Entry-level consultants support analyses, research, and client projects while learning the fundamentals of consulting work. Starting salaries in consulting are typically above the market average and are complemented by bonuses and additional benefits.
Salary Range: £34,000 – £70,000
Average Salary: £50,000
Average Additional Pay: £4,000
Salary as an Experienced Consultant (Consultant / Associate)
With growing experience, consultants take on more responsibility and manage projects more independently. Through direct client interaction and visible project success, both salary and bonus potential increase.
Salary Range: £65,000 – £100,000
Average Salary: £83,000
Average Additional Pay: £5,500
Salary as a Senior Consultant or Manager
Senior consultants lead teams, oversee projects, and advise clients on strategic matters. Their salaries reflect their increased responsibility and their key role in driving company success.
Salary Range: £92,000 – £125,000
Average Salary: £110,000
Average Additional Pay: £6,029
Salary as a Project Leader, Principal, or Director
At this level, consultants lead large client projects or business units and play a central role in strategic planning and business development. High base salaries and performance-based bonuses reward their expertise and leadership.
Salary Range: £120,000 – £165,000
Average Salary: £143,000
Average Additional Pay: £25,852
Salary at Executive Level (Partner / Managing Director)
Partners and managing directors hold overall responsibility for business development, client relationships, and corporate strategy. They are among the highest earners in the industry and benefit from substantial bonuses and profit participation.
Salary Range: £125,000 – £757,000
Average Salary: £440,000
Average Additional Pay: £99,151
Consulting Salaries Compared to Other Industries
When comparing consulting salaries in the United Kingdom with professions in law, medicine, or finance, it becomes clear that consultants often earn more than entry-level professionals in these fields. Compared to investment banking, consulting salaries are generally on a similar level.
Technology companies such as Google, LinkedIn, or Meta sometimes offer higher starting salaries. However, top consulting firms like McKinsey, BCG, and Bain provide comparable earning potential, particularly thanks to rapid career progression, bonuses, and attractive benefits.
In addition to the base salary, signing and relocation bonuses, as well as performance-based incentives, make consulting compensation packages highly competitive – in some cases even exceeding those in the tech industry.
These figures represent average ranges and can vary depending on company size, experience, and location. Those who continuously develop their skills, take on responsibility, and perform well can significantly increase their income in consulting within a short time.
Key Takeaways
In summary, the consulting industry in the United Kingdom offers excellent starting salaries, making it one of the most attractive career paths for graduates. Firms provide competitive pay, diverse projects, and additional benefits that make entering the industry particularly rewarding.
Compensation varies depending on experience, education, location, and company size. Top firms such as McKinsey, BCG, Bain (MBB) and the Big Four typically pay above-average salaries, while smaller firms can stand out through specialisation, faster promotion paths, and closer client work. Salaries are highest in London, although this also comes with higher living costs.
As experience grows, salaries increase steadily, offering not only financial stability but also strong long-term career growth.
However, salary should not be the only deciding factor. Make sure the firm aligns with your personal values, goals, and preferred work culture. Finding the right consulting firm can pave the way for a successful and fulfilling career in the industry.
*Sources:
Glassdoor, Salary of Consultants in the United Kingdom
Entry-level consultants in the UK typically earn between £45,000 and £60,000, depending on the firm and location. Top strategy firms such as McKinsey, BCG, and Bain (MBB) offer salaries of up to £63,000 including bonuses.
The MBB firms lead the market, followed by Deloitte and PwC among the Big Four. Boutique consultancies like OC&C or Strategy& also offer competitive total compensation packages and faster promotion opportunities.
Salaries are highest in London and the South of England, reflecting higher living costs and the concentration of global consulting firms. Cities like Manchester, Birmingham, and Edinburgh offer slightly lower pay but better affordability and work-life balance.
Salaries increase steadily with seniority. An entry-level consultant might earn around £50,000, while a senior consultant averages £110,000, and partners can earn up to £750,000 or more with bonuses and profit sharing.
Consulting salaries are competitive with finance and generally higher than in law or medicine at entry level. While some tech firms may offer higher base pay, consulting provides faster progression, performance bonuses, and career variety that often lead to comparable or higher long-term earnings.
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