Consulting is a lucrative career with a clearly defined path to the top of the career ladder. Once you start your Deloitte consulting career, you’ll know each step of the ladder you need to hit to make a Partner. However, what’s not so clear is what each position on the Deloitte career path pays. This article aims to provide a comprehensive review of the salary structure at Deloitte, focusing on the consultant role.
Table of Contents
- Deloitte Consultant Salary Overview
- Deloitte Consultant Salary by Practice Area and Level
- Role Playing: Deloitte Consulting Career Salary by Job Title
- Deloitte Salaries By Practice Area
- Deloitte UK Consultant Salary vs. Deloitte Consultant Salary US
- Beyond the Paycheck: What about Benefits?
- Big Ben or The Big Apple: Cost of Living Difference
- Final Thoughts
- About The Author
Deloitte Consultant Salary Overview
Deloitte Consulting pays much better than the average white-collar salary in America ($63,076). Deloitte spends around ~$1B on consultant salaries and benefits, making it the second-highest human capital cost out of all professional services firms. This is partly due to its sheer size and scale. The firm is committed to growing happy, well-compensated employees – it’s just good business!
Deloitte Consultant Salary by Practice Area and Level
Deloitte offers different salaries based on the practice area and level. For instance, an undergraduate or master’s consultant in Deloitte Consulting can expect a base salary of up to $95,000 with a signing bonus of $12,500. In contrast, a consultant in Deloitte Tech can expect a base salary of $70,000 with a signing bonus of $7,500.
For MBA & Ph.D. consultants, the base salary in Deloitte Consulting can go up to $163,000 with a signing bonus of $15,000. In Deloitte Tech, the base salary is $160,000.
Role Playing: Deloitte Consulting Career Salary by Job Title
Salaries at Deloitte vary widely based on the practice and function you are a part of. Here are some average salaries across consulting practices:
- Deloitte Undergrad/Master’s intern salary: $41/hour + overtime
- Deloitte MBA intern salary: ~$30,000
- Deloitte consultant starting salary (first year/associate): Average base salary across practices: $72,670.
- Deloitte senior consultant salary: Average base salary across practices: $102,000
- Deloitte consulting manager salary: Average base salary across practices: ~$145,000
- Deloitte consulting senior manager salary: Average base salary across practices: $180,000
- Deloitte associate partner salary: Average base salary across practices: $216,083
- Deloitte consulting principal salary: Average base salary across practices: $464,517 Average total comp: $2,560,789.
Deloitte Salaries By Practice Area
Salaries also vary based on the practice area. For instance, the average base salary for a Deloitte human capital consultant is $88,081, while a technology consultant at Deloitte can expect an average base salary of $91,790.
Deloitte UK Consultant Salary vs. Deloitte Consultant Salary US
There is a large variation in consulting salaries between the UK and the US. Management consulting salaries are highest in the US due to the competition for talent between consulting, Silicon Valley, and Wall Street. Consultant salaries in the UK are relatively lower, which is something to consider given the high cost of living in cities like London.
Beyond the Paycheck: What about Benefits?
In general, the US isn’t as competitive as the UK and most European countries when it comes to taking care of its workers. However, Deloitte offers better-than-average benefits compared to most other UK companies. This is something to keep in mind when evaluating your projected Deloitte starting salary or senior consulting salary in the UK.
Big Ben or The Big Apple: Cost of Living Difference
The cost of living can vary widely between countries and specific cities where Deloitte offices are located. For example, both New York City and London are notoriously expensive, though overall the cost of living in NYC is about 20% cheaper than living in London.
Salary matters. As do benefits, bonuses, and perks. But so do a whole lot of other factors when considering a Deloitte consulting career. If you’re early in your career, our advice is to take the job for the branding and professional development it provides. The skills you’ll gain from working at Deloitte will continue to pay dividends long into the future.