Management Analysts and Consultants

Salaries and hourly rates for management consultants vary widely, according to experience, specialization, education, and employer. Management analysts and consultants had median annual earnings of $99,410 in May 2023, according to the U.S. Department of Labor. Salaries ranged from less than $57,840 to $172,280 or more. Fifty percent of management consultants earned between $74,540 and $130,800.

Many consultants can demand between $400 and $1,000 per day. Their fees are often well over $50 per hour. Plunkett Research, Ltd. reports that top consultants employed at elite firms such as the Boston Consulting Group bill clients as much as $5,000 daily, plus expenses. Associates at top firms bill clients $1,500 a day.

Typical benefits for salaried consultants include health and life insurance, retirement plans, vacation and sick leave, profit sharing, and bonuses for outstanding work. All travel expenses are generally reimbursed by the employer. Self-employed management consultants receive no fringe benefits and generally have to maintain their own office, but their pay is usually much higher than that of salaried consultants. They can make more than $2,000 per day or $250,000 in one year from consulting just two days per week.