It’s been a very busy start to the year as expected. Record numbers of new people starting in new roles. However, the number of new requirements from the consulting world has dipped slightly from last month.
This has resulted in very little movement in the salary and bonus figures we are seeing this month.
Reason sighted for changing jobs in management consultant are consistent with recent results as well.
We have added an interesting extra report this month based on the number of people that leave their old companies after accepting a counter offer. The information is available here or from the main Market Reports list.
Whilst is lack of dramatic change might not be interesting in itself, it is important to note that salaries and bonus are at an all-time high and competition for staff is still staggering and so there will be upward pressure for some time to come.
Talent Advisory man-hours are on the increase which is broadly in line with our predication. We have broken down where the demand is being created right now instead of just reporting Talent Advisory as single element
All indicating that the bigger firms are very motivated to find the best talent and that some of the lower tier firms and boutique firms are having to work hard to compete for talent.
Again, money motivated moves are on the rise.
WHY ARE PEOPLE CHANGING JOBS IN MANAGEMENT CONSULTING?
The order of the reasons hasn't changed much since last quarters review but the point of interest is that 'more money' is now higher than the last survey, which was 12% higher than the survey before.
We have more in-depth information relating to reasons for moving but we have kept this to the headlines for the sake of brevity. Please contact your account manager or one of the Directors of the firm for more specific data.
The data below shows the average low and average high salary for each of the roles. Very little movement from the previous month.
The following average bonus payments are made based on the same roles. This is the average bonus payment as a percentage of the base salary. Bonus payments remain relatively static month on month.
BONUS PAYMENTS AS A % OF BASE SALARY
TOTAL COMPENSATION (BASE AND BONUS SEPARATED)
The following shows the base salary plus the typical bonus for the roles. This data shows the average salary for the role and the average bonus in GBP £ for the same role. It clearly shows the roles the roles at the up end of the career ladder reward more in bonus than base salary at the moment and the entry level roles pay little to no bonus.
TOTAL COMPENSATION (AVERAGE BASE PLUS AVERAGE BONUS)
The chart below shows the average base salary plus the average value of the bonus at that level, added together, to provide an indication of average total compensation.
GEOGRAPHIC SOURCE OF THIS MONTH'S DATA
The data for this month's survey was sourced from the following locations.
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