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Management Consultant Salary: India, Per Month, In India for Freshers, In Accenture, In BCG, In Deloitte

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Ahana Bhaduri

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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. 

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.

M.Phil. (Management) : 23 answered questions

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Ques. What is the cost of doing FPM in ISB Hyderabad?

● Top Answer By Ritesh Agarwal on 26 Mar 21

Ans. It is to be cleared first that the FPM course is completely equivalent to a Ph.D degree. It takes approximately 4-5 years to complete, along with accurate learning and research work. The fact is that ISB generally pays Rs. 40000 as a stipend along with House Allowances to the candidates who are doing FPM on a full-time basis. Thereby you are not required to pay anything from their own pocket, but they can earn 40 thousand per month. However, the most important thing is that FPM requires accuracy to complete the study without spending money. So, you have to study with full accuracy, and earn support from this institute to carry on your personal and family expenses. You have to enroll as a full-time candidate and should not have any other source of income.  If you have any other second income, then it will not work. After completing this program, the student will get unlimited rewards, considering their knowledge and income.Read more
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Ques. What is your review of FPM (Fellow Programme in Management), IIM Ahmedabad?

● Top Answer By Rangan Banerjee on 07 Jul 23

Ans. FPM offered by IIM Ahmedabad is a 4-year long doctoral course in the various specializations of management. It offers specialization in Information Systems, Business Policy, Human Resource Management, Innovation and Management in Education, Strategy, etc.  Here are a few major points regarding the program that you should consider The program comprised 3 modules containing compulsory and elective courses. You can study 2 specializations. You cannot pursue this program alongside working somewhere as this is a full-time residential course. IIM Ahmedabad FPM annual fee is INR 2 to INR 13 lakhs. You will be glad o know that the tuition fee is completely waived and a monthly stipend is also provided. Although the duration is 4 years some might take 5 years to complete it. Also, you cannot opt for distance learning. The future aspects are both academic as well as in the corporate sector. FPM average package is in the range of INR 3 to 60 LPA FPM future prospects are spread across various sectors like Marketing Companies, Sales sector, Educational Institutes, Financial Organizations, Banks, Export Companies, etc. Overall, FPM is a great choice for those willing to pursue managerial roles or want to enter academia in the future.Read more
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Ques. Can you become a professor in IIMs or IITs after FPM from new IIMs, like Rohtak or Raipur?

● Top Answer By Biplab Roy on 21 Jan 23

Ans. Becoming a professor from the new IIMs is definitely possible but rare. The FPM program offered at the new IIMs has varied peers some being freshers while some with Masters from foreign universities. The following things matter when selecting an Assistant Professor in a new IIM Your experience  The quality of your papers The chances are rare because most of the new IIMs have professors who have done Ph.D. from older IIMs like IIM Ahmedabad, IIM Bangalore, and IIM Calcutta. Ph.D. is a program that totally depends on your performance and research. The initial years focus solely on research training and cannot be enough to make you eligible for faculty positions. So your chances are rare but not null.Read more
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Ques. How good is the placement scenario at iim kozhikode for fpm programme?

● Top Answer By Milind Padalkar on 14 Nov 22

Ans. The FPM or Fellow Program in Management at IIM Kozhikode does have its own placement program. This is because the batch size is very small.  But the FPM program in itself is such a meticulous one that all its students become scholars or researchers. The recent data confirms that most of its fellows have been placed in the top IIMs or other reputed Management Schools ranked high on NIRF. The only thing you need to be careful about is not delaying your thesis work and having good publications. If not you might face problems at the time of placements. The FPM degree has been renamed as the PhD and IIM Kozhikode provides excellent placements for the same.Read more
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Ques. How is the FPM program of IIM Rohtak?

● Top Answer By Saurav Mishra on 04 Nov 20

Ans. Indian Institute of Management Rohtak is among the top B-schools in the country. IIM Rohtak has been ranked 21st by NIRF 2020. The Institute offers various programs that include 2 PG programs, 2 Fellowship programs, and various executive training programs. IIM Rohtak offers a part-time, non-residential fellowship program in management. FPM is specifically designed for working professionals who want to pursue research in management. The grand total fees for completing FPM at IIM Rohtak is INR 6 lacs. Admissions: For admissions in FPM, the requirements include having a PG degree or equivalent in any discipline with at least 55% marks or equivalent CGPA. Alternatively, The applicant may also have a four-year bachelor's degree with at least 6.5 CGPA or equivalent. The candidates need to have a valid score in CAT/GMAT/GRE/GATE. The candidates need to appear for the Research Aptitude Test conducted by IIM Rohtak. Admission to FPM courses is based on academic qualifications, performance in management exams, personal interviews, and work experience. The application fee is INR. 1000/-. Scholarships: IIM Rohtak offers fellowship to the participants of FPM. For the first two years, students are given INR 30,000 and for the next two years an amount of INR 35,000 is provided. A contingency grant of INR 1,85,000 is given to all students distributed across all four years of the program. Students who have participated in the national level or international level of any sports can also apply for Sports Scholarships.   Placement: Indian Institute of Management Rohtak had achieved a 100% placement record for the batch of 2018-20. 86 recruitment companies visited the campus. The highest salary offered was 24 LPA and the average salary offered was 13 LPA. The IT industry had the most number of placement offers. IIM Rohtak had also witnessed 100% placement for summer internships. The major recruitment companies included Amazon, Bain capability network, Lenskart, Infosys, etc. The course is diverse and brings in plenty of opportunities. The above-mentioned facts will help the student to guide and take the decision about attending IIM Rohtak for an FPM.Read more
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Ques. How tough is it to get into FPM program in XLRI?

● Top Answer By Siddarth Ghose on 20 May 23

Ans. The difficulty of getting into the FPM program at XLRI varies from person to person depending on several factors. Some of these determining factors are the number of applicants, their qualifications, and the admissions criteria of the program. Here are the eligibility criteria of the FPM program that might give you an insight into the toughness of getting into FPM XLRI. A BE / B. Tech. degree or its equivalent with at least 60% marks (50% for SC/ST candidates) obtained after completing higher secondary education (10+2) or equivalent, and followed by at least 2 years of relevant work experience, A bachelor's degree/equivalent of minimum three years duration with at least 60% marks (50% for SC/ST candidates) after completing higher secondary education (10+2) or equivalent, and followed by post-graduation (MBA/Master's degree in any discipline) from a university or a center of higher learning in India / abroad with at least 55% marks (50% for SC/ST candidates), An integrated master's degree of four / five years in any discipline, with at least 55% marks (50% for SC/ST candidates), obtained after completing higher secondary education (10+2) or equivalent, A professional qualification like CA, ICWA, or CS with at least 55% marks (50% for SC/ST candidates) However, in general, the FPM program at XLRI is considered to be quite competitive, with a rigorous selection process that includes an application, an interview, and a written test. To increase your chances of being accepted into the program, it is important to have a strong academic record, relevant work experience, and a clear research proposal.Read more
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Ques. Is Amity University Noida good for part-time PhD in Management?

● Top Answer By Santosh Khandelwal on 20 Apr 22

Ans. Amity University Noida isn’t a good option for a part-time Ph.D. in Management. If you want to do a Ph.D. just for the sake of getting a degree, then you can go for it. But if you are genuinely interested in research then it will be better if you prepare for UGC NET.Read more
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Ques. I've got two options, TAPMI PGDM and IRMA PRM. What should I choose?

● Top Answer By Alka Singh on 09 Mar 23

Ans. When deciding on an MBA program, it's important to consider your interests and career goals. If you have an inclination towards rural management, then IRMA would be an excellent choice for you. On the other hand, if you're looking for a general MBA degree and specific profiles post-MBA, then TAPMI may be the better option. If rural management is your area of interest, then IRMA should be at the top of your list. IRMA has a strong reputation for its rural management program and provides excellent opportunities for students interested in the field. On the other hand, if you're looking for a broader MBA degree and want to explore different profiles, then TAPMI may be a better fit. When it comes to post-MBA profiles, TAPMI provides a variety of specializations to choose from, including finance, marketing, human resources, and operations. This means that you can choose a specialization that aligns with your interests and career goals. Additionally, TAPMI has a strong reputation in the industry and attracts many top recruiters, which can enhance your job opportunities post-MBA. Ultimately, the decision between IRMA and TAPMI will depend on your individual interests and career aspirations. Make sure to research each program thoroughly and weigh the pros and cons of each before making a final decision.Read more
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Ques. How is the FPM in Finance at IIM Indore, Lucknow, Kozhikode?

● Top Answer By Sumit on 03 Jan 23

Ans. The FPM or the Fellow Program in Management is a full-time, residential, fully financially supported doctoral program of the Indian Institute of Management Kozhikode. One of my friends joined IIM Kozhikode for research under financial accounting and control. According to her, the first year is full of rigor and a rigid curriculum. The FPM students share the curriculum with MBA students in the first year along with 3 FPM courses. The shared curriculum enables them to get in insight into various aspects of Management. Like the first year, the second to has 3 semesters of 3 months each. This year comprises core FOm courses that give a depth understanding of methodologies and various econometric tools. One major drawback my friend faced was the improper ratio between the number of courses and their period of study. The second year has 7 courses in each term which imply 12 days per subject which is insufficient. If we consider the 30 hours of classes per course, it means we attend classes for 210 hrs ( appr 8 days). So IIM Kozhikode no doubt offers top-notch facilities and resources but you will have to prepare yourself to physically and mentally tire yourself to avail of them. FPM is an excellent course for research aspirants and not for casual learners. Read more
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Ques. How tough is IIM B test for getting into fellowship program at IIM Bangalore?

● Top Answer By Siddant Mittal on 15 May 23

Ans. Unlike CAT, RAT (Research Aptitude Test) is not a unified exam. Evert IIM conducts its own admission process for FPM and thus the pattern of RAT varies from IIM to IIM. One of the patterns is termed as minor RAT followed at IIMB and at a few other IIMs. The RAT consists of different types of CAT questions including questions on verbal skills, logical reasoning, quantitative etc. However, the quantity of questions is less and the questions are distributed differently. Questions are designed to determine minimum eligibility requirements and are not meant for elimination thus the overall test is not too difficult . It's important to note that the RAT pattern for each of the IIMs changes every year. Though some preparation definitely needs to be made for these exams, I would not suggest giving more time to prepare for interviews than the written exam.Read more
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Nehru College of Management - [NCM]
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M.Phil/Ph.D in Management(3 Yrs)8.5
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Mahatma Gandhi University - [MGU]
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