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Consultant salaries will vary by position and experience. Starting from the base, fresh graduates (from undergrad institutions) earn an average base pay of $83,500 from top-tier consulting firms. Their performance bonuses range between $12,000-$18,000, with a signing bonus of $5,000.
There are also higher-level salaries for top consultants in these firms. When you get to this level, you essentially become a shareholder/partner in the firm. Base salaries for high-level personnel range between $570,000-$1,000,000, with performance bonuses of up to$300,000 varying by firm.
Consultant Qualifications. Because consultants work on a contract basis, there are no set qualifications to be a consultant. It comes down to what the organization needs and how well you can sell your offer. However, businesses expect consultants to give expert-level advice, and consulting jobs are competitive.
Consultant salaries range between $60,966.32 and $178,800.97, with $96,226.36 as the average salary.
How to become a consultant: 4 steps to credibility Finish your undergraduate degree. Earn practical knowledge through work experience. Get certified in your industry. Complete a master's degree or higher in your chosen field. Build your network.
How to get into consulting without relevant experience Internships. ... Work experience in other sectors. ... Virtual internships. ... Make use of resources. ... Skills gained from volunteer work. ... Part-time work. ... Make your gap year count. ... Get proactive.
Consultants offer advice and expertise to client organisations to help them improve their business performance. Their work can focus on operations, strategy, management, IT, finance, marketing, HR and supply chain management across a wide range of industries and specialisms.
Consultants usually hold degrees in business administration, finance or economics. However, degrees in psychology, marketing and computer science are common as well among business consultants. To work in a particular industry, consider a minor in that field in addition to a business degree.