Consulting Compensation
Help me determine whether I am underpaid in the Consulting industry: $110K base + $75K bonus = $185K TC 3 YOE also have ~$25K in annual profit sharing and ~$40K in annual tuition reimbursement, however, mainly interested in TC vs other consulting firms
Which company
Consulting companies hire second tier engineers and they deserve to be paid less 😆
🤔...most consulting firms hire mainly BSBA/MBA
Username checks it
Op just want to feel good by getting others tell him / her how awesome they are with this TC and 3 yoe. If you want to feel good, go watch porn and gtfo blind.
I’ve looked into other consulting firms and they pay higher, so I am genuinely interested in pay across the industry and how mine stacks up. A lot of consulting firms are private/small so it’s hard to benchmark. If you’re so offended, then maybe you should quit your bum ass job
If what you literally wrote is accurate, then..... there's your answer? What else were you hoping for with feedback
Location?
Chicago
It's a good TC
What do you consult - the industry is vast?
Strategy. We consult for BOD related to ST/LT strategy, comp. of C-Suite, etc.
So you consult around the Operations side of the business - the cost center. I’ve been in consulting for 15 years and have worked in many areas, and have always found that the TC pays more when you consult in a growth area for a business. Doesn’t need any data back rational it makes common sense. Consult where the market is investing larger dollars and you’ll reap larger rewards. TC: $600K+, Base:$215k. NYC I consult on digital transformation
Is pay in consulting related to the industry you're in? I mean heavily related. I'm a consultant (Electrical engineer) in the renewable energy industry and I'm at $70k. I just started though so <1 YOE
Yes. If you consult in tech, your consulting company gets good money, which means you get good money as well.
Makes sense. So he was asking about tech 🙄
$250k total cash comp with 3 YOE? You’re doing just fine. For comparison, I’m at 10 YOE in the consulting industry also chi based, and walk away with ~$475k annually.
Damn a lot of hate on this thread. I just entered the comp consulting space with one year of prior work experience. Here’s my comp breakdown. “Associate” 85K base salary 12.5% bonus paid every six months 401K - 3% benefit (50% match on 6% of salary) And after a year I’ll start earning company stock. Compensation at my company overall looks like a exponential curve that flattens at around 7 years at the principal level.
If you can’t figure this out then you are beyond worthless as a consultant
🔥
Figure it out for me, then