Managing Consultant Salary
The median total income of Managing Consultants is around $123K, and for the average worker in this area, a good chunk of that (more than a third, in fact) comes from commissions. Total cash compensation to Managing Consultants bottoms out near $93K and approaches $179K on the high end; the biggest paychecks include approximately $31K from bonuses and almost $42K from profit sharing. Earnings for this group are mostly affected by residence, followed by experience level and the individual firm. Job satisfaction is reported as high by the vast majority of workers. Male Managing Consultants are far more common among survey respondents than their female counterparts, who typically comprise less than one-third of the field. Almost all report receiving medical coverage from their employers and a large number collect dental insurance.
|Salary||$88,899 - $159,072|
|Bonus||$1,927 - $30,912|
|Profit Sharing||$983 - $42,000|
|Total Pay (|
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).)
|$93,250 - $179,483|
Job Description for Managing Consultant
Managing consultant perform a wide variety of tasks, such as researching, collecting and analyzing data, interviewing various people in relation to their client and the client's company, presenting solutions, aiding and implementing plans and solutions, and keeping clients updated on progress.Read More...
These consultants generally work for clients on a contractual basis, and the type of clients that may use a managing consultant can range from charities to utilities to media to healthcare to retail. Managing consultants generally work with managers of various companies, but they also interview and work with company employees, as well as additional stakeholders.
The educational requirements for a managing consultant vary greatly by the consultants' area of expertise and clients' needs. A bachelor's degree in a relevant field is generally needed; clients may prefer degrees in business, finance, economics, or a related field. Depending on the company, it may also help to have a master's in business administration (M.B.A.), as well as prior experience. Other important skills include the ability to work well in teams, communicate clearly both orally and in writing, successfully research and analyze data, solve problems strategically and creatively, be flexible and understanding when it comes to clients, and to cope with challenge and pressure.
Work hours depend on the company, but managing consultants are known for putting in long hours with substantial extra work. Some companies, however, break that stereotype and offer part-time and flexible schedules.
Managing Consultant Tasks
- Direct consulting project deliverables, driving objectives and schedules and ensuring client needs are met.
- Manage delivery team personnel, providing training, guidance, and performance evaluations.
- Provide sales support, assisting with strategy development and informing sales team of client needs.
- Oversee client relationship management, assessing and guiding communication strategies and assisting with complex consultations.
- Work with leadership to review services, identifying areas for improvement and altering strategies and scope.
Managing Consultant Job Listings
Popular Employer Salaries for Managing Consultant
Managing Consultants seeking a sizable paycheck can earn the most at IBM Global Services, where the average salary comes to $124K.
With a median salary of $100K, Navigant Consulting, Inc. provides Managing Consultants with the lowest pay in their field; moreover, earnings are capped at only $145K, limiting employee salary growth.
Popular Skills for Managing Consultant
Managing Consultants report using a deep pool of skills on the job. Most notably, facility with Security Testing and Auditing, Strategic Planning, and Business Strategy are correlated to pay that is significantly above average, leading to increases of 29 percent, 14 percent, and 7 percent, respectively. Skills that seem to negatively impact pay include Financial Analysis, Data Analysis, and Human Resources. Most people skilled in Consulting Management are similarly competent in IT Consulting and Data Analysis.
Pay by Experience Level for Managing Consultant
Pay by Experience for a Managing Consultant has a positive trend. An entry-level Managing Consultant with less than 5 years of experience can expect to earn an average total compensation of $100,000 based on 40 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Managing Consultant with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $116,000 based on 98 salaries. An experienced Managing Consultant which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $130,000 based on 129 salaries. A Managing Consultant with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $133,000 based on 40 salaries.
Pay Difference by Location
With a pay rate for Managing Consultants that is 20 percent greater than the national average, Philadelphia offers a comfortable salary for those in this profession. Managing Consultants will also find cushy salaries in San Francisco (+9 percent), Dallas (+8 percent), Miami (+7 percent), and Seattle (+5 percent). With compensation 18 percent below the national average, Raleigh is not known for hefty paychecks and actually represents the lowest-paying market. Employers in Atlanta and Chicago also lean toward paying below-median salaries (5 percent lower and 4 percent lower, respectively).
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Key Stats for Managing Consultant
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