Published on Feb 27, 2007

In 2002, management consulting experts held approximately 577,000 positions in the U.S. alone. As business becomes more complex, firms and organizations are continually facing new challenges within the industry. Firms largely rely on management consultants to help them remain competitive throughout these changes.

Salary Ranges / Job Outlook for Management Consulting

A management consulting specialist's pay range depends upon factors like skill, years of experience, education, type of employment and geographic location. In the United States the median annual salary for management consultants was approximately $60,340 in 2002. The low end of this scale earned around $35,990 and the high end earned around $115,670 each year.

Management consultants typically receive benefit packages that include vacations, sick leave, retirement plans life and health insurance and pension plans. In addition to these employment benefits they may also receive profit sharing opportunities, bonuses based on outstanding performance and travel opportunities and reimbursement by their employer.

Employment of management consulting specialists is anticipated to grow faster than the average for all other positions during the next decade. One reason for this is that businesses and organizations are increasingly relying on outside expertise to improve their performance. Job progression is expected in large firms with international expertise and in smaller firms that specialize in specific areas like biotechnology, information technology, human resources, and marketing.