If you are looking for the best consulting jobs, there are a few big names to choose from. Strategy& McKinsey. Bain, EY Parthenon, Bain and Bain all offer high salaries. What makes them different from each other? Continue reading to learn which consulting firms are the best. In this article, we'll discuss what to look out for in an interview. This article will provide you with an idea about what to expect at each firm.
Strategy&
The list of the highest-paid consulting firms does not include all firms, but the following three firms make up this top tier. EYParthenon is a global management and consulting firm that has strong presences in Asia and Europe. With more than 5,000 employees in 60 offices worldwide, and annual revenues of over $2.1 billion, EY-Parthenon has made a name for itself as one of the most desirable consulting firms.
Strategy& provides many benefits beyond a high-quality compensation package. These include a $12,500 sign bonus, 15% off Accenture stock and a 6% match in your 401(k). It has a well-known brand name that makes it one the most highly paid consulting firms. Although Strategy&&'s compensation may be comparable to BCG, Strategy& is better positioned to provide career advancement and more opportunities.
McKinsey
McKinsey had a reputation for being a very competitive recruiter. In fact, McKinsey saw over 200,000 applicants apply for positions within a matter of years. McKinsey took on just 1% of those applicants compared to Goldman Sachs, who had 4%. The firm is the largest employer in Rhodes Scholars, outside of the United States government. It also maintains a dedicated student recruitment portal. McKinsey requires high performance from its employees, despite its low pay.
Kearney and Accenture are two other top-paying consultancy firms. Accenture is a technology consulting business with approximately 8,000 employees. The company has over $26B in annual revenues. Kearney is formerly A.T. Kearney. Kearney is home to more than 3500 employees, and 60 offices in 60 countries. Its annual revenues exceed $1.3B. Roland Berger, a strategy consulting firm with more than 2,700 people in 40 offices around world, has an annual revenue of over $1B.
Bain
Bain Consulting offers a salary increase that will match your career progression. While this upward career path may seem steep when compared to other consulting companies, it is comparable with the compensation offered by the most highly regarded companies around the globe. As an Associate Consultant, you will start your career. You can hold this position for anywhere from six to twenty months. If you perform well you will be promoted up to the Consultant level, which lasts at least two years. You will then be promoted to Case Team Leader, which allows you to earn even more.
This consulting firm offers one of the highest bonus policies. Bain top performers make nearly PS12,000 above the average for all other firms. Consulting is a great career choice, especially for high-performing and driven individuals. Register for our free interview preparation materials to learn more about consulting compensation. You will be prepared for your next interview. Bain Consulting's compensation is unrivaled within the industry.
EY-Parthenon
EY-Parthenon, an international management consulting firm, has recently added Anastasia Makeeva in its Amsterdam office. Makeeva is a highly respected expert in strategic development. She previously worked for the Big Four. Over 60 strategic projects have been completed by Makeeva, who has more experience than a decade in consulting. Her expertise includes market entry strategy development and business plan design, as well as growth-oriented organisational change.
Previously known as Ernst & Young, EY-Parthenon is one of top consulting firms for MBA graduates. It is headquartered in London and has more than 250,000 professionals worldwide. EY Parthenon is one of the "Big Four", which include Deloitte, PwC, and KPMG. This multinational firm was 29th in the Fortune 100 ranking of the most desirable places to work.
FAQ
How is consulting different to freelancing
Freelancers can be self-employed people who provide their services to clients, without the involvement of employees. They typically charge hourly rates based on time spent working on a client's project. Consultants usually work for agencies or companies that employ them. Consultants are typically paid either monthly or annually.
Consultants have less flexibility than freelancers because they can control their work hours, and set their own prices. But consultants have more benefits like vacation days, health insurance and retirement plans.
Who hires consultants
Many organizations employ consultants to assist in projects. These include small businesses, large companies, government agencies and non-profits.
Some consultants work directly for these organisations, while others freelance. The hiring process will vary depending on the complexity and size of the project.
When hiring consultants, you will probably go through several rounds of interviews before choosing the person you think would be best suited for the position.
What types of jobs are available as a consultant?
You will need to be able to understand business strategy and operations if you want to work as a consultant. Understanding how businesses work and their place in society is also essential.
A career as a consultant requires you have great communication skills and a strong ability to think critically.
Because they might be required to complete different tasks at different times, consultants must be flexible. They should be flexible enough to change direction quickly if needed.
They should be able to travel extensively for clients. They may be required to travel all over the globe for this type of work.
They should also be able manage stress and pressure. Sometimes consultants are required to meet tight deadlines.
Consultants are often expected to work long hours. This means that you may not always get paid overtime rates.
Can anyone be an advisor?
A consultant is someone that helps you achieve your goal. They can offer advice on how to do it better, faster and cheaper.
Consultants can help you resolve problems, make decisions, and negotiate with other people.
Consultants are often hired for specific projects or tasks.
Consultants are usually paid hourly, daily or per project.
What can I anticipate from my consultant
You should hear back from your chosen consultant within a few days. They will request information about your company including its mission and goals, products, services, budget, and other pertinent details. After that, they will send you a proposal detailing the scope of work, expected time frame, fees and deliverables.
If all goes well, the parties will then negotiate a written agreement. The type relationship between the two sides (e.g. employee-employer or independent contractor-employer) will dictate the terms of the contract.
If all goes according to plan, the consultant will begin working immediately. The consultant will have full access to your files and resources. You'll also have access to their skills and knowledge.
However, don't assume that just because someone is a consultant that s/he knows everything. It takes time and practice to become an expert on any subject you consult. Do not expect your consultant to be an expert in every aspect of your business.
Statistics
- "From there, I told them my rates were going up 25%, this is the new hourly rate, and every single one of them said 'done, fine.' (nerdwallet.com)
- Over 62% of consultants were dissatisfied with their former jobs before starting their consulting business. (consultingsuccess.com)
- On average, your program increases the sales team's performance by 33%. (consultingsuccess.com)
- 67% of consultants start their consulting businesses after quitting their jobs, while 33% start while they're still at their jobs. (consultingsuccess.com)
- So, if you help your clients increase their sales by 33%, then use a word like “revolution” instead of “increase.” (consultingsuccess.com)
External Links
How To
How can you find the best consultants?
Ask yourself what you want from your new consultant before you start looking. You should know exactly what your expectations are before you start searching for someone. A list of what you expect from a consultant is helpful. This list could include technical expertise, project management skills, communication skills and availability. Once you've listed out these requirements, then you may want to consider asking some friends or colleagues who they would recommend. Ask them about their experiences with consultants and compare their recommendations to yours. Do some internet research if they don't have recommendations. There are many websites, such as LinkedIn, Facebook, Angie's List, Indeed, etc., where people post reviews of their previous work experiences. Use the feedback and ratings of others as a starting point to search for potential candidates. After you've compiled a list of potential candidates, it is time to reach out to them and schedule an interview. During the interview, you should talk through your requirements and ask them to explain how they can help you achieve those goals. It doesn't matter if they were recommended to your company; all that matters is that they are able to understand your business goals and show how they can help.