Brainfood: Stat of the Month - Cost of Consultancy

£1,275 - The average daily fee for a management consultant.

by
Last Updated: 31 Aug 2010

Management consulting has never paid so well. Government spending on management consultants hit £1.9 billion last year, up 46% on 2003, but the figure makes more sense when you see how much consultancies charge.

A quarter now bill clients for £1,100-£1,400 a day, with the average fee up 25% on 2001. Some charge up to £3,600, and those in London can command twice the fee of consultants elsewhere. More than half Britain's consultancy directors earn at least £100,000 a year, plus benefits. Highest salaries are paid by financial consultancies, where directors earn an average of £115,000 a year, senior consultants £68,000 and new entrants £36,000 - plus benefits. In larger firms, the top quarter earn more than £145,000, with, at this level, an average annual bonus of about 30%. Is there a fortune to be made from offering consultancy to the consultants?

Find this article useful?

Get more great articles like this in your inbox every lunchtime

A top-level guide to scenario planning

COVID creates unprecedented uncertainty, but there are tried and tested ways of preparing for an...

Is it favouritism to protect an employee no one likes?

The Dominic Cummings affair shows the dangers of double standards, but it’s also true that...

Masterclass: Communicating in a crisis

In this video, Moneypenny CEO Joanna Swash and Hill+Knowlton Strategies UK CEO Simon Whitehead discuss...

Remote working forever? No thanks

EKM's CEO Antony Chesworth has had no problems working from home, but he has no...

5 rules for work-at-home productivity

And how to focus when focusing feels impossible.

Scandal management lessons from Dominic Cummings

The PR industry offers its take on the PM’s svengali.