Salary Range: £65,000 - £90,000
The Senior Consultant role is the bridge between delivery and management. You are expected to lead streams of work and mentor junior analysts. Salaries for this band in 2026 sit firmly between £65k and £90k across most top-tier firms in London.
At this stage, retention becomes a key issue for firms, so perks and benefits packages are often sweetened. This includes car allowances (often convertible to cash), private health insurance for families, and enhanced pension contributions. A Senior Consultant at Deloitte might see a total package value of £85,000, while their counterpart at McKinsey (Engagement Manager) could be looking at a base of £110,000+.
Salary Range: £80,000 - £110,000
Managers are responsible for the day-to-day running of the project. They handle the client relationship on the ground and ensure the team delivers. The financial leap to Manager is significant, often breaking the six-figure barrier when bonuses are included.
In 2026, a base salary of £100,000 is becoming the standard for Managers at strategy firms, while Big 4 Managers hover around £80,000 - £95,000. The bonus component here can be up to 40% of base salary, heavily dependent on firm performance and individual utilization rates.
Salary Range: £150,000 - £300,000+
Reaching the partnership level is the "holy grail" of the consulting career path. Partners are part-owners of the business (in the case of equity partners) or high-level salaried employees (Directors). Income here varies wildly based on equity stake and sales generated.
A junior partner might start on a draw of £150,000, but with profit distributions, their total annual earnings often exceed £300,000. Senior partners at top firms frequently earn over £1 million annually. However, this comes with the pressure of sales targets—Partners are expected to sell millions of pounds worth of work every year to justify their position.
Beyond the base salary, the "extras" in consulting are substantial.
Many consultants choose to leave the permanent employment of a firm to become independent contractors. The daily rate market in 2026 is robust.
Day Rate Equivalent: £500 - £1500
An independent consultant with 5 years of experience can charge £600-£800 per day. Niche experts in fields like AI implementation, ESG (Environmental, Social, and Governance), or M&A integration can command £1,200 to £1,500 per day. While this offers higher gross pay, contractors must manage their own taxes (IR35 compliance is critical), holidays, and lack of job security.
To give you a realistic view of spending power, here are three common scenarios for consultants in London:
A second-year analyst at a strategy firm earning £60,000.
Verdict: Comfortable for a young professional sharing a flat in Zone 1/2 or renting a studio in Zone 3.
A Senior Consultant at a Big 4 firm.
Verdict: Allows for a high standard of living, mortgage savings, and decent holidays.
A Manager at a top-tier firm.
Verdict: Significant jumping power, but the "60% tax trap" between £100k and £125k eats into the raise. Many managers increase pension contributions here to avoid the tax trap.
The consulting market in 2026 is defined by two major trends: AI Integration and Sustainability. Consultants who specialize in Generative AI deployment are commanding premiums of 10-15% over generalists. Similarly, the push for Net Zero has created a massive demand for sustainability consultants, stabilizing salaries even during broader economic slowdowns.
Remote work has settled into a hybrid model. While the "Monday to Thursday" client site travel model has not fully returned to pre-2020 levels, face-time is back in vogue for high-stakes strategy work. This "return to office" has reinforced the London-centric nature of UK consulting salaries, maintaining the London weighting allowance.
In 2026, the average starting salary for a management consultant at the Analyst level generally ranges from £35,000 to £50,000. Graduates at top-tier strategy firms (MBB) can expect packages closer to £55,000 including signing bonuses. This is significantly higher than the UK national graduate average.
A Senior Consultant in London typically earns between £65,000 and £90,000 per year, depending on the firm. Big 4 firms typically pay at the lower end of this bracket, while strategy boutiques and MBB firms pay at the higher end. This role usually requires 3-5 years of experience.
McKinsey, BCG, and Bain (MBB) typically offer a 20-30% premium over the Big 4 (Deloitte, PwC, EY, KPMG). While a Big 4 Consultant might earn £60,000, an MBB associate with similar experience could earn upwards of £80,000. This gap reflects the highly competitive nature of strategy consulting versus implementation or audit-based consulting.
Yes, bonuses are a significant part of the compensation package. Performance bonuses typically range from 15% to 30% of base salary. Additionally, signing bonuses of £15,000 to £25,000 are common for MBA hires. Partners rely heavily on profit-sharing bonuses, which can double their base salary.
Independent contractors and freelance management consultants in the UK typically charge between £500 and £1,500 per day. Specialized strategy consultants or those with niche expertise in areas like Digital Transformation or Turnaround can command even higher rates, though they lack the job security and benefits of permanent employees.
Partners and Directors can earn significantly high incomes, often ranging from £150,000 to over £300,000 annually. Senior Equity Partners at top firms can earn considerably more, sometimes exceeding £1 million when profit shares and equity payouts are included.
On a £60,000 salary in the UK for the 2025/2026 tax year, your estimated monthly take-home pay is approximately £3,600 to £3,700. This calculation assumes a standard tax code and accounts for Income Tax and National Insurance, but does not deduct student loan repayments or private pension contributions.