Management Consultant Salary

Updated April 6, 2023

Management Consultant Salary Estimate

$99,360

$47.77 hourly

Entry level Salary

$72,000 yearly

$72,00010%

$99,360Median

$136,00090%

How much does a Management Consultant make?

The average salary for a management consultant in the United States is $99,360. Management consultant salaries typically range between $72,000 and $136,000 a year. The average hourly rate for management consultants is $47.77 per hour.

Location, education, and experience impacts how much a management consultant can expect to make. Management consultants make the most in New Jersey, Maryland, Massachusetts, Washington, and Wisconsin.

Research Summary.

The average salary for a management consultant is $99,360 in the US.
The average management consultant salary ranges between $72,000 and $136,000 in the US.
Hourly rates for management consultants in the US typically range between $34 and $65 an hour.
The average management consultant salary is $119,093 in New Jersey, $111,735 in Maryland, and $110,041 in Massachusetts. These are the three highest-paying states for management consultants in the US.
Apple has the highest average salary for management consultants.
Technology is the highest-paying industry for management consultants in the US.

Highest Paying States For Management Consultants

If both location and money are important to you, then you might want to check out moving to New Jersey, Maryland and Massachusetts, as these three states offer the highest salaries throughout the U.S. for management consultants. Quite opposite of that list is the lowest paying states, which are North Dakota, Florida, and Mississippi.

State View
County View

Average Salary:

Management Consultant average salary by State

Rank	State	Avg. Salary	Hourly Rate	Job Count
1	New Jersey	$119,093	$57.26	2,210
2	Massachusetts	$110,041	$52.90	2,320
3	Illinois	$102,970	$49.50	3,102
4	North Carolina	$102,230	$49.15	2,186
5	Connecticut	$104,573	$50.28	802
6	New York	$105,175	$50.56	3,432
7	Texas	$103,359	$49.69	4,473
8	Washington	$106,562	$51.23	1,583
9	District of Columbia	$110,467	$53.11	794
10	Wisconsin	$106,151	$51.03	995
11	Rhode Island	$95,898	$46.10	335
12	Pennsylvania	$97,418	$46.84	2,658
13	New Hampshire	$100,231	$48.19	384
14	Oregon	$98,152	$47.19	1,229
15	Minnesota	$99,319	$47.75	1,490
16	Maryland	$111,735	$53.72	1,100
17	Alabama	$96,009	$46.16	919
18	California	$102,240	$49.15	7,630
19	Virginia	$102,745	$49.40	1,839
20	Ohio	$96,203	$46.25	1,961
21	Delaware	$94,184	$45.28	280
22	Oklahoma	$88,188	$42.40	703
23	Vermont	$90,531	$43.52	178
24	Georgia	$94,009	$45.20	1,898
25	Michigan	$92,738	$44.59	1,312
26	West Virginia	$90,718	$43.61	265
27	Missouri	$92,561	$44.50	1,126
28	Arizona	$89,148	$42.86	1,288
29	Nevada	$85,934	$41.31	484
30	Colorado	$95,360	$45.85	981
31	Alaska	$93,457	$44.93	147
32	Hawaii	$85,737	$41.22	208
33	Kentucky	$88,494	$42.55	603
34	South Dakota	$80,993	$38.94	256
35	South Carolina	$88,797	$42.69	692
36	Idaho	$85,995	$41.34	335
37	Tennessee	$85,558	$41.13	906
38	Maine	$89,390	$42.98	191
39	Iowa	$87,170	$41.91	548
40	Wyoming	$82,224	$39.53	122
41	Indiana	$84,678	$40.71	1,071
42	Louisiana	$85,439	$41.08	469
43	North Dakota	$79,725	$38.33	193
44	Utah	$75,398	$36.25	742
45	Kansas	$81,506	$39.19	554
46	New Mexico	$81,957	$39.40	369
47	Nebraska	$82,253	$39.54	398
48	Montana	$76,955	$37.00	250
49	Florida	$78,779	$37.87	3,181
50	Mississippi	$77,017	$37.03	431
51	Arkansas	$73,927	$35.54	538

Top Management Consultant Jobs Near You

Highest Paying Cities For Management Consultants

Rank	City	Avg. Salary	Hourly Rate	Job Count
1	Jersey City, NJ	$119,112	$57.27
2	Washington, DC	$110,611	$53.18	56
3	Boston, MA	$109,998	$52.88	43
4	Richmond, CA	$107,930	$51.89	1
5	Seattle, WA	$107,167	$51.52	9
6	Milwaukee, WI	$106,361	$51.14	4
7	New York, NY	$105,383	$50.66	42
8	Hartford, CT	$104,513	$50.25	20
9	San Antonio, TX	$104,044	$50.02	5
10	Chicago, IL	$103,339	$49.68	44
11	Arlington, VA	$103,208	$49.62	13
12	Durham, NC	$103,172	$49.60	5
13	Minneapolis, MN	$99,334	$47.76	11
14	Philadelphia, PA	$97,718	$46.98	8
15	Cleveland, OH	$97,255	$46.76	4

Here Are The Five Most In Demand Cities Right Now:

Management Consultant Salary by Years of Experience

The salary for a management consultant can vary depending on the years of experience that a person has, from entry level to senior level. An accountant with 0-2 years of experience earns an average salary of $57,303, a mid-career professional with 3-6 years of experience makes $99,360 a year on average, and a senior level accountant with 7-12 years of experience enjoys an average annual salary of $131,450. Data on how experience level affects total compensation is provided by the Bureau of Labor Statistics (BLS) as part of their National Compensation Survey, which is based on factors such as knowledge, complexity, contacts, and environment.

Management Consultants Salary Details

Average Management Consultant Salary Graph, Trends, and Summary

What is a Management Consultant's Salary?

Percentile	Annual Salary	Monthly Salary	Hourly Rate
90th Percentile	$136,000	$11,333	$65
75th Percentile	$117,000	$9,750	$56
Average	$99,360	$8,280	$48
25th Percentile	$84,000	$7,000	$40
10th Percentile	$72,000	$6,000	$35

Highest Paying Types of Management Consultants

Job Title	Annual Salary	Monthly Salary	Hourly Rate	Job Openings
Contractor/Consultant	$84,811	$7,068	$40.77	64,573
Solutions Consultant	$94,839	$7,903	$45.60	103,093
Principal Consultant	$116,478	$9,706	$56.00	143,753
Operations Consultant	$87,229	$7,269	$41.94	122,880
Consultant	$78,912	$6,576	$37.94	171,733
Business Consultant	$87,214	$7,268	$41.93	128,033

How Would You Rate The Starting Salaries For Management Consultants, As Well As The Prospects For Salary Advancement?

Angela Grotto Ph.D.

Associate Professor of Management, Manhattan College

In general, the starting salaries for business graduates are outstanding. Still, they can vary greatly, depending on major (e.g., finance vs. marketing), location (higher in metro areas), industry (e.g., tech vs. retail), and experience (think internships). Do your homework - use sites such as Salary.com or Payscale to learn the starting salaries for jobs you are interested in, and then use it when you get to the negotiation stage.
Even if you start on the low end of a salary range for a job, there is always the potential to increase your salary in any industry. You can improve your salary through vertical advancement (i.e., promotions) and lateral advancement and development (e.g., more years of experience, obtaining an MBA, developing new skill sets, expatriate assignments, etc.).
Remember that your starting salary sets the trajectory for your future salary prospects, so do your homework to determine appropriate compensation for the job, given your experience, education, and location. Then, hone your negotiation skills - especially if you do not feel comfortable or confident negotiating - to get the salary you deserve right from the start, and it sets you on the right path.

Here are the five companies hiring the most now:

Which Companies Pay Management Consultants The Most?

According to our most recent salary estimates, Apple and L.E.K. Consulting are the highest paying companies for management consultants.

Rank	Company	Average Salary	Hourly Rate	Job Openings
1	Apple	$136,272	$65.52	291
2	L.E.K. Consulting	$134,412	$64.62
3	CITGO Petroleum	$127,700	$61.39	2
4	Google	$126,550	$60.84	130
5	Coalfire Systems Inc.	$123,838	$59.54	4
6	TASER Self-Defense	$123,444	$59.35	1
7	The Tipping Point	$123,033	$59.15
8	Genentech	$122,857	$59.07	6
9	IT Concepts	$121,885	$58.60
10	Fujitsu	$121,486	$58.41	13
11	Walmart	$121,185	$58.26	119
12	Siemens Enterprise Communications Inc	$121,143	$58.24
13	Slalom	$120,898	$58.12	38
14	Windward Consulting	$119,356	$57.38
15	DynTek	$118,479	$56.96
16	XMS Solutions	$118,107	$56.78
17	Roblox	$117,188	$56.34	2
18	OLR	$117,025	$56.26	2
19	CDK Global	$116,818	$56.16	8
20	Personify, Inc.	$116,104	$55.82

How Much Do Management Consultants Make In Different Industries?

Here are some examples of how much a management consultant salaries can based on different industries:

The technology industry pays management consultants an average salary of $102,527
The finance industry pay $94,546
The lowest paying industry for management consultants is the government industry. Management consultants in this industry earn an average salary of $76,260

Highest Paying Industries For Management Consultants

Rank	Industry	Average Salary	Hourly Rate
1	Technology	$102,527	$49.29
2	Finance	$94,546	$45.45
3	Professional	$91,238	$43.86
4	Health Care	$89,397	$42.98
5	Government	$76,260	$36.66

High Paying Management Consultant Jobs

Management Consultant Pay Trends

Average Management Consultant Salary Over Time

Compare salaries for individual cities or states with the national average.

Management Consultant Salary By Year

Year	Avg. Salary	Hourly Rate	% Change
2023	$99,400	$47.77	+2.7%
2022	$96,600	$46.46	+1.9%
2021	$94,800	$45.56	+1.4%
2020	$93,500	$44.93	+1.4%
2019	$92,200	$44.32	+0.0%

Recently Added Management Consultant Salaries

Company	Job	Location	Date Added	Salary
Huron Consulting Group	Oracle Cloud Subscription Management Consultant-Nationwide, Remote	Nora, NE	05/04/2023	$106,400
Bling Glamour	Management Opportunities (	Manhattan, KS	05/02/2023	$16,696
Berkeley Research Group	Managing Consultant-Healthcare Analytics (Life Sciences/Pharmaceutical Team)	Boston, MA	05/01/2023	$100,000
Fidelity Investments	Wealth Management Consultant	Denver, CO	05/01/2023	$55,000
Fidelity Investments	Wealth Management Consultant	Redmond, WA	05/01/2023	$66,000
Fidelity Investments	Wealth Management Consultant	Los Angeles, CA	05/01/2023	$72,000
Capgemini	Managing Consultant-Sustainable Engineering	San Francisco, CA	05/01/2023	$100,000
Capgemini	Managing Consultant-Sustainable Engineering	Seattle, WA	05/01/2023	$100,000
Alight Solutions	Workday Manager/Managing Consultant (Compensation/Advance Compensation)-USA Virtual	Lincolnshire, IL	05/01/2023	$112,700
Guidehouse	Managing Consultant-Energy, Sustainability, & Infrastructure	New York, NY	05/01/2023	$98,400

Management Consultant Salaries FAQs

What State Pays Management Consultants The Most?

New Jersey pays Management Consultants the most in the United States, with an average salary of $119,093 per year, or $57.26 per hour.

How Do I Know If I'm Being Paid Fairly As A Management Consultant?

You know if you are being paid fairly as a Management Consultant if your pay is close to the average pay for the state you live in. For example, if you live in Maryland you should be paid close to $111,735 per year.

Are Management Consultants Highly Paid?

Yes, management consultants are highly paid, with an average annual salary of $90,000. The sign-on bonuses for this job are usually around $5,000, and performance bonuses typically total around $16,000 annually.

How Much Do Mckinsey Consultants Make?

McKinsey entry-level consultants make an average of $90,000 to $110,000 per year. Higher education can result in a higher salary.

McKinsey consultants that hold an MBA or similar MBA level education and experience average a salary of $233,000 per year. A higher salary will be a direct result of having higher education and or more experience for a McKinsey consultant's salary.

How Much Do Management Consultants Make?

Management consultants make an average of $83,000 per year in the United States. Management consultants that hold an MBA can make more, averaging approximately $150,000 per year.

Due to COVID, there has been a steady rise in businesses seeking consulting services, which has resulted in a slight increase in management consultant salaries.

How Much Do Senior Management Consultants Make?

Senior management consultants make an average of $120,000 annually. The work is demanding within a set time frame and involves extensive travel to be in direct communication during implemented changes.

What Does An Entry-level Management Consultant Make?

An entry-level management consultant makes an average of $80,000 to $100,000 a year. Salaries can vary depending on education level and how much experience you have.

Even when applying to an entry-level management consultant position, having experience is often desired. This can also slightly increase your base salary. However, the main contributor to how much you make as an entry-level management consultant is dependent on your level of education.

Have more questions? See all answers to common business and financial questions.

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Updated April 6, 2023