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Emolument.com Press Release: Best paying consulting firms
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NOTE: if using the data below, it is essential that you refer to Emolument.com as ‘salary-benchmarking site’ and use hyperlinks. 
 

The best paying Consulting firms

US, UK, France, India


While the prestige of a consulting company is key for its potential clients, the fair pay prevails for its (potential or not) employees. Yet, the level of pay strongly depends on the country and its cost of living.

Emolument.com has analysed 1,627 data points of senior consultants (with 3 to 5 years of employment) at EY, KPMG, PwC, Deloitte or Accenture and focused on four countries: the UK, the US, France and India. Although the cost of living is very high in the US, working as a consultant in the US is a great deal given the rewarding pay.
 
 
Company Median Salary Median Bonus Median Compensation Difference with the USA
USA
Accenture £78,000 £4,000 £82,000  
Deloitte £72,000 £5,000 £77,000  
PwC £71,000 £5,000 £76,000  
EY £70,000 £2,000 £72,000  
KPMG £67,000 £3,000 £70,000  
UK
EY £46,000 £0 £46,000 -36%
Deloitte £48,000 £1,000 £49,000 -37%
Accenture £48,000 £0 £48,000 -42%
KPMG £46,000 £2,000 £48,000 -32%
PwC £45,000 £2,000 £47,000 -39%
FRANCE
PwC £42,000 £3,000 £45,000 -41%
KPMG £42,000 £3,000 £45,000 -36%
Accenture £43,000 £1,000 £44,000 -47%
EY £41,000 £2,000 £43,000 -40%
Deloitte £40,000 £2,000 £42,000 -47%
INDIA
EY £13,000 £1,000 £14,000 -80%
KPMG £12,000 £1,000 £13,000 -80%
Deloitte £12,000 £1,000 £13,000 -84%
PwC £11,000 £1,000 £12,000 -84%
Accenture £12,000 £0 £12,000 -85%
 Table 1. The last column is an evaluation of the difference between salaries in the same company in consulting compared to the US salary.
 
Country Cost of living index Difference
USA 100 0%
UK 85 -15%
France 83 -17%
India 26 -74%
Table 2.  Figures from Numbeo.com

Accenture always in the top 3, except in India. Accenture is the best paying consulting firm in the US, with a total compensation 6% higher than Deloitte, the second best paying firm in the US. Accenture ranks second and third in the UK and France. The firm has developed an unusual strategy of rather high salaries and low bonuses that proves successful, except in India where the company is at the bottom of the table. On the contrary, EY ranks first in India, but is always in the two worst paying consulting firms in France, the US or the UK.

Game changing bonuses. Surprisingly, bonuses in France are higher than in the UK, although – as expected considering the French labour market - base salaries are lower in France. In the UK, neither Accenture nor EY senior consultants receive any bonus. The bonus culture is particularly significant in the US, with Deloitte granting bonuses up to 7% of the base salary. In India, bonuses are also high, relatively to the level of base salaries (at KPMG India, the bonus is equal to 11% of the base salary).
 
Company Total Compensation Gender Pay Gap
Deloitte
Men £48,000  
Women £50,000 4%
EY
Men £47,000  
Women £46,000 -2%
KPMG
Men £50,000  
Women £45,000 -10%
PwC
Men £48,000  
Women £45,000 -6%
Tables 3. Based on 700 Sr consultants (3-8 years' experience) annual total pay (salary + bonus) from Accenture, KPMG, EY, PwC & Deloitte.

Pay compared to the cost of living. At first sight, the best paying country for consultants is the US with the highest total compensation for Accenture, Deloitte, PwC, EY and KPMG. Yet, do not forget that the cost of living in the US is much higher. Nevertheless, when comparing the salary gap and the difference of cost of living, it is always more interesting to be a senior consultant in the US than anywhere else thanks to a high pay compensating the cost of living.

Gender equality? With about 30% of female senior consultants, it is interesting to notice that women earn 4% more than men at Deloitte. Deloitte is the only company where the median compensation of women is higher than men’s. The firm where gender equality is the worst is KPMG, where women are paid 10% less, even though there are 33% of the employees.

[1] https://en.wikipedia.org/wiki/List_of_University_of_St._Gallen_people
 
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