How much should a management consultant expect when moving within consulting is an incredibly difficult question to answer without knowing more about your personal circumstances. In general, whilst money is very important, it should not be your key driver when considering a move. If you move to a company where you are happy and there is an opportunity to grow then money should look after itself in the medium term.
However, I can provide some scenarios where it’s reasonable to ask for a good base-pay increase (15-20%), move for parity and actually move for less! Please note I am referring to base pay only:
There is a huge caveat against all of the above, as pay is always dependent on interview performance and how you compare against other candidates and the internal peer group. The better you perform the easier it is to negotiate a higher salary. Just because you are moving jobs does not give you a divine right of a pay rise. Read our tips for Improving Video Interview Skills.
You may often hear your friends bragging about 30-40% pay increases, but with 20 years’ experience behind me, this is a rarity in consulting. Be happy with 10-15% for a similar job, plus value all the other great things about your new company. If you just move for money, then you will probably leave for money also!
If you want guidance or advice on consulting salaries from a candidate or client perspective, then I’d be happy to speak. Get in touch.
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