Managing Consultant Salary
A substantial slice of final earnings for Managing Consultants (over a third) arrives through commissions. Median overall income in this area is approximately $123K. Total cash earnings of Managing Consultants range from $93K on the low end to $179K on the high end; the final amount can include bonuses and profit sharing proceeds that occasionally exceed $31K and $42K, respectively. Compensation for this group is mainly affected by location, but career duration and the specific company are influential factors as well. Most Managing Consultants survey respondents are men (76 percent). Nearly all enjoy medical while almost all get dental coverage. Vision coverage is also available to a strong majority. Work is enjoyable for Managing Consultants, who typically claim high levels of job satisfaction.
|Salary||$88,852 - $160,536|
|Bonus||$1,479 - $30,824|
|Profit Sharing||$986 - $41,718|
|Total Pay (||$93,887 - $180,073|
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. (Copyright 2017 PayScale.com)
Managing Consultant Tasks
- 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.
- Provide sales support, assisting with strategy development and informing sales team of client needs.
- Direct consulting project deliverables, driving objectives and schedules and ensuring client needs are met.
- Manage delivery team personnel, providing training, guidance, and performance evaluations.
Managing Consultant Job Listings
Popular Employer Salaries for Managing Consultant
Managing Consultants flock to IBM Global Services for generous paychecks, where average earnings of $124K lead the pack in compensation.
The lowest salaries can be found at Navigant Consulting, Inc. — median pay is $100K — and there is little variation in compensation, with paychecks starting at $90K and only reaching $145K.
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 30 percent, 14 percent, and 7 percent, respectively. At the other end of the pay range are skills like Financial Analysis, Data Analysis, and Human Resources. Most people who know Consulting Management also know 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
For Managing Consultants, working in the bustling city of Philadelphia has its advantages, including an above-average pay rate. Managing Consultants can also look forward to large paychecks in cities like San Francisco (+9 percent), Dallas (+8 percent), Miami (+8 percent), and Seattle (+5 percent). Falling short of the national average by 18 percent, the area with the worst salaries is Raleigh. Not at the bottom but still paying below the median are employers in Atlanta and Chicago (5 percent lower and 4 percent lower, respectively).
Related Job Salaries
Key Stats for Managing Consultant
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