The report also notes that firms are hiring more undergraduates than MBAs, as the perceived value of MBAs varies widely. Some firms have adjusted their variable compensation structures to make pay packages more appealing, although only a small percentage of consultants earn the maximum bonus. Management Consulted expects an increase in hiring as demand and attrition rise in the coming years, but salaries for new hires may remain unchanged.
Key takeaways:
- Consultant starting salaries have remained flat since 2023, with no increases at boutique, MBB, and Big Four firms due to slowing demand and AI-driven productivity gains.
- The 2025 Consulting Salaries Report by Management Consulted found that starting total compensation at major firms has not increased since 2023, affecting both undergraduate and MBA/PhD hires.
- Productivity advancements from generative AI and remote work, along with slower attrition, have reduced the need for new hires and stalled salary growth in the consulting industry.
- Despite expectations of increased demand and hiring in the coming years, Management Consulted anticipates that salaries for new hires may remain stagnant.