The duties of a Management Consultant include analysing business operations, identifying issues, developing and implementing strategies and providing guidance. Management Consultants are in high demand as companies look to optimise their performances. The average annual salary of a Management Consultant is INR 22.2 LPA with the highest salary being 40 LPA.
The average salary of a Management Consultant after gaining substantial years of experience is INR 22.20 LPA. The starting salary for a Management Consultant in India is 5.6 LPA while the highest salary is INR 40 LPA. The estimated monthly salary in India for Management Consultants is between INR 1,43,440 to INR 1,48,789 per month. Management Consultants with experience of about 5 years are earning up to INR 21.30 LPA in India. Professionals with experience and higher designations are expected to have a better salary in India. Senior Consultant and Business Consultant are top designations with average annual salaries of INR 16 LPA and INR 10 LPA respectively.
To become a Management Consultant, students can enrol in different Management Consultant courses after class 12. St. Xavier’s College, IIT Madras, and IIMs are some of the best colleges for management consulting education. Some of the top courses that can be pursued for a career as a Management Consultant include BBA, B.Com in Business Administration, MBA and other similar certificate and diploma courses.
Table of Contents
- Management Consultant Salary: Experience Wise
- Management Consultant Salary: Designation Wise
- Management Consultant Salary: Skill Wise
- Management Consultant Salary: Qualification Wise
- Management Consultant Salary: Company Wise
- Management Consultant Salary: City Wise
- Management Consultant Salary: Country Wise
- Management Consultant Salary: FAQs
Management Consultant Salary: Experience Wise
Experienced Management Consultants are compensated more compared to new ones because of the knowledge they possess. Experience is one of the crucial determining factors for deciding a Management Consultant's salary. The following table highlights the Management Consultant salaries based on years of experience.
Experience Years | Average Annual Salary (INR) |
---|---|
0 - 5 years | 5.6 L |
6 - 10 years | 21.3 L |
11 - 15 years | 22 L |
16 - 20 years | 24.4 L |
Management Consultant Salary: Designation Wise
Management Consultants help businesses navigate complex problems and achieve their goals. It is a rapidly evolving profession with varied salaries depending upon the various designations. Management Consultant salaries for some of the top designations are mentioned in the table below.
Designations | Average Annual Salary (INR) |
---|---|
Senior Consultant | 16 L |
Business Consultant | 10 L |
Associate Consultant | 7.5 L |
Senior Associate Consultant | 10.7 L |
Data Analyst | 4.5 L |
Senior Analyst | 6.3 L |
Analyst | 5 L |
Deputy Manager | 8.4 L |
Management Consultant Salary: Skill Wise
Management consulting is a dynamic profession that requires a varied set of skills and expertise. Strong analytical, problem solving and communication are some of the top skills that a Management Consultant should possess. Management Consultant salaries according to different skills are mentioned in the following table.
Skill Set | Average Annual Salary (INR) |
---|---|
Management Consulting | 22.2 L |
Project Management | 12 L |
Consulting | 11 L |
Change Management | 8 L |
Data Management | 4 L |
Business Process | 5.8 L |
Risk Management | 10 L |
Team Management | 3 L |
Management Consultant Salary: Qualification Wise
Being a challenging profession, most Management Consultants possess a high level of education and training. Individuals with full-time degrees earn more than individuals with short-term courses. Management Consultant salary varies based on the qualification. The following table highlights the salaries of Management Consultants at different qualification levels.
Degree Pursued | Average Annual Salary (INR) |
---|---|
Diploma | 6.28 L |
Bachelors | 11.45 L |
Masters | 15.63 L |
Management Consultant Salary: Company Wise
Management Consultants are hired by various companies for providing guidance and expertise to help them in improving their performances to achieve targets. The table below highlights the salary of some of the top recruiters of Management Consultants in India.
Name of the Companies | Average Annual Salary (INR) |
---|---|
Accenture | 29.5 L |
PwC | 21.2 L |
Cognizant | 21.7 L |
Deloitte | 23.5 L |
IBM | 28.6 L |
KPMG | 20.3 L |
Ernst & Young | 21 L |
Wipro | 29.7 L |
Infosys Consulting | 19.3 L |
Management Consultant Salary: City Wise
Management Consulting is a highly competitive profession offering individuals to work in different cities. Management Consultant salaries vary widely on the basis of location.
Management Consultant salaries from some of the top Indian cities are mentioned in the table below.
Name of the Cities | Average Annual Salary (INR) |
---|---|
Delhi | 20 L |
Mumbai | 21 L |
Bangalore | 23 L |
Hyderabad | 21 L |
Chennai | 17 L |
Management Consultant Salary: Country Wise
Because of their problem-solving and management skills, Management Consultants are in demand all over the world. Students can apply for management consulting jobs in other countries also after completing their education. Some of the top countries with good pay for Management Consultants are mentioned in the table below.
Name of the Countries | Average Annual Salary (INR) |
---|---|
USA | 81.52 L |
UK | 61.15 L |
Japan | 47.66 L |
Germany | 58.93 L |
Management Consultant Salary: FAQs
Ques. What are Management Consultant jobs?
Ans. Management Consultants provide expert advice and suggestions to companies and organisations so that they can improve their performances and achieve desired goals. They work closely with clients to identify problems and develop and implement solutions.
Ques. What skills are required to become a Management Consultant in India?
Ans. The following are some of the top skills that a Management Consultant should possess:
- Analytical skills.
- Problem-solving skills.
- Excellent communication.
- Decision-making skills.
- Teamwork skills.
Ques. Name some top companies that hire Management Consultants in India.
Ans. Accenture, Cognizant, Deloitte, IBM, Infosys, Wipro, etc are some of the top companies hiring Management Consultants in India.
Ques. What is the monthly salary of a Management Consultant in India?
Ans. Management Consultants earn between INR 1,43,440 to INR 1,48,789 per month in India.
Ques. How much a Senior Consultant is earning in India?
Ans. The average annual salary of a Senior Consultant in India is INR 16 LPA.
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