Junior consultants typically start off working at the low of consultant positions for a minimal salary. Since most consultants only start working freelance after years of experience and contact development, junior consultants tend to work for consultant firms that offer services to business advising about technological adoption, marketing strategy and other issues. This makes the salaries for junior consultant more straightforward than other positions with experienced workers.
Salary Average Low End
On the low end, a junior consultant can expect to make around $50,000 to $60,000 per year for their work. This is for basic consultancy positions at places like IBM and Dassault that have widespread companies and normative salaries, which tend to set the standard for the industry. Sometimes pay can rise as high as $65,000 or $75,000 for much more specialized positions.
Salary Average High End
On the high end, junior consultants can make much more, starting at $86,000 and moving up to as much as $124,000. This is due in part to the job itself and in part to location. A specialized firm that has only high-level clients like governments and large corporations will typically hire junior consultants that have excellent records and years of experience built up, which leads to a much higher salary for the position, even if it is relatively low-level. Likewise, a junior consultant in Boston may make more than a similar position in New York.
As junior consultants advance in the firm that they work for, they can expect regular increases in the amount of money they earn. For instances, the salary of a regular consultant jumps up to $99,000 a year on average. A senior consultant may make $10,000 to $20,000 more. These increases vary based on the company but pay increases do occur throughout most firms.
Consultants, because of the nature of their work, often depend on alternate forms of compensation in addition to salaries. For instance, many use profit sharing, in which they receive a percentage of the funds that a business makes as a direct result from the consultancy. Some junior consultants make a commission on their sales, while others receive bonuses from their firms.