Consulting

I was under the assumption that consulting always had big hikes compared to industry. I see people getting a 3 percent increase annually. what am I missing? all industries get about a 3 percent hike

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I've averaged 10% a year over the last 6 years (big 4) and will again this year. I'm not keeping up with MBB but it isn't bad compared to industry.

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Pretty typical is ~6% annual increases

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Depends on the following factors: bonus vs base, your rating, where you are in your pay band, and how well your firm is doing..

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Industry-consulting will be converging more and more since more and more work is outsourced to consultants aka staff population shifts from industry to consulting firms. Just look at revenue/headcount growth of Big4 over the last 10 years. There is no magical formula that will make staff get more money for the same work just because they are in consulting and not in industry.

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I’ve never gotten less than a 10% hike in consulting in the last 4 years. On the commercial side here. Op what firms and groups are you seeing this in?

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Industry base increase is small but bonuses can be substantial (banks especially) so the package will still end up much higher than in consulting. Yearl bonus at the Big 4 I was in was a joke.. Enough for a movie ticket and popcorn

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will I be stuck at my current salary forever 😭

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No what’s your current level and comp?

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