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Written by “Oussama Atlassi, founder of StratMachina
Updated on October 27, 2023
If it exists at least 6 good reasons to do strategy consulting, the high level of remuneration for this type of job can also be an additional argument to finally convince you to take the plunge. In France, the median remuneration level of a BAC+5 graduate is around €30,000 gross/year. In strategy consulting, the salaries for entry-level permanent contracts are around €60,000 gross/year (between €50 and €55k fixed and between €5 and €10k variable), i.e. double. This is equivalent to a monthly net remuneration (before withholding tax at source of income tax) of €3,750. A real boost to quickly repay your student loan or start/accelerate your savings and invest in real estate, the stock market or the crypto market.
The strategy consulting sector is highly competitive and the Turnover, that is to say the average length of time during which a person is employed by the firm before leaving, is just under 2 years. Progressing in your firm's pyramid guarantees you a rapid and exponential acceleration of your remuneration. In addition, recent news in France with controversies over the award of public sector missions without a call for tenders to McKinsey or even the criticism of consulting firms' models (lack of sociological and academic diversity, out-of-the-box recommendations, opaque billing) has pushed firms to increase their remuneration trajectories to continue to attract talent who may be tempted to go into tech or in large groups.
To reach the Partner remuneration level, count on average 7 to 10 years (you are very fast if you do it in 7 years). In addition to the remuneration, you will be able to receive a% of Equity acquired (the capital) between 3 and 5% per year depending on the results. Although the salaries for this type of job do not rival those of investment banking, they are still comfortable enough for you to develop a strong friendship with your banker:)
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The significant level of remuneration is one of the factors of retention within firms. This retention will depend on everyone's risk aversion. Those for whom it is raised will appreciate working in such a structured environment and with such comfortable remuneration. Those who have a stronger entrepreneurial spirit will not hesitate to consider other paths. In addition to the pleasure of entrepreneurship, know that the significant remuneration that you can receive in strategy consulting is generally obtained in return for a sometimes intense pace of work and missions whose meaning or added value are not always obvious. Telling you this does not prevent us from confirming that a stint in a strategy consulting firm remains an excellent choice for your career.
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