What does a M1 Consultant grade mean? How far away from being Senior Consultant?

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At Deloitte M1 is equivalent to “assistant manager” approx 3-5 YOE, £42k-55k

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This. M2 is SC in Consulting or Manager in other service lines.

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Can someone explain M1 and M2 grades to me? (and salary ranges in London)

I'm used to Consultant, Senior Consultant, Manager, Senior Manager

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