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Management Consultant Salary: India, Per Month, In India for Freshers, In Accenture, In BCG, In Deloitte

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Ahana Bhaduri

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The duties of a Management Consultant include analysing business operations, identifying issues, developing and implementing strategies and providing guidance. Management Consultants are in high demand as companies look to optimise their performances. The average annual salary of a Management Consultant is INR 22.2 LPA with the highest salary being 40 LPA. 

To become a Management Consultant, students can enroll in different Management Consultant courses after class 12. St. Xavier’s College, IIT Madras, and IIMs are some of the best colleges for management consulting education. Some of the top courses that can be pursued for a career as a Management Consultant include BBA, B.Com in Business Administration, MBA and other similar certificate and diploma courses. 

Management Consultant Salary in India

The average salary of a Management Consultant after gaining substantial years of experience is INR 22.20 LPA. The starting salary for a Management Consultant in India is 5.6 LPA while the highest salary is INR 40 LPA. The estimated monthly salary in India for Management Consultants is between INR 1,43,440 to INR 1,48,789 per month.

Management Consultants with experience of about 5 years are earning up to INR 21.30 LPA in India. Professionals with experience and higher designations are expected to have a better salary in India. Senior Consultant and Business Consultant are top designations with average annual salaries of INR 16 LPA and INR 10 LPA respectively.

Management Consultant Salary: Experience Wise

Experienced Management Consultants are compensated more compared to new ones because of the knowledge they possess. Experience is one of the crucial determining factors for deciding a Management Consultant's salary. The following table highlights the Management Consultant salaries based on years of experience.

Experience Years Average Annual Salary (INR)
0 - 5 years 5.6 L
6 - 10 years 21.3 L
11 - 15 years 22 L
16 - 20 years 24.4 L

Management Consultant Salary: Designation Wise

Management Consultants help businesses navigate complex problems and achieve their goals. It is a rapidly evolving profession with varied salaries depending upon the various designations. Management Consultant salaries for some of the top designations are mentioned in the table below.

Designations Average Annual Salary (INR)
Senior Consultant 16 L
Business Consultant 10 L
Associate Consultant 7.5 L
Senior Associate Consultant 10.7 L
Data Analyst 4.5 L
Senior Analyst 6.3 L
Analyst 5 L
Deputy Manager 8.4 L

Management Consultant Salary: Skill Wise

Management consulting is a dynamic profession that requires a varied set of skills and expertise. Strong analytical, problem solving and communication are some of the top skills that a Management Consultant should possess. Management Consultant salaries according to different skills are mentioned in the following table.

Skill Set Average Annual Salary (INR)
Management Consulting 22.2 L
Project Management 12 L
Consulting 11 L
Change Management 8 L
Data Management 4 L
Business Process 5.8 L
Risk Management 10 L
Team Management 3 L

Management Consultant Salary: Qualification Wise

Being a challenging profession, most Management Consultants possess a high level of education and training. Individuals with full-time degrees earn more than individuals with short-term courses. Management Consultant salary varies based on the qualification. The following table highlights the salaries of Management Consultants at different qualification levels.

Degree Pursued Average Annual Salary (INR)
Diploma 6.28 L
Bachelors 11.45 L
Masters 15.63 L

Management Consultant Salary: Company Wise

Management Consultants are hired by various companies for providing guidance and expertise to help them in improving their performances to achieve targets. The table below highlights the salary of some of the top recruiters of Management Consultants in India. 

Name of the Companies Average Annual Salary (INR)
Accenture 29.5 L
PwC 21.2 L
Cognizant 21.7 L
Deloitte 23.5 L
IBM 28.6 L
KPMG 20.3 L
Ernst & Young 21 L
Wipro 29.7 L
Infosys Consulting 19.3 L

Management Consultant Salary: City Wise

Management Consulting is a highly competitive profession offering individuals to work in different cities. Management Consultant salaries vary widely on the basis of location. 

Management Consultant salaries from some of the top Indian cities are mentioned in the table below.

Name of the Cities Average Annual Salary (INR)
Delhi 20 L
Mumbai 21 L
Bangalore 23 L
Hyderabad 21 L
Chennai 17 L

Management Consultant Salary: Country Wise

Because of their problem-solving and management skills, Management Consultants are in demand all over the world. Students can apply for management consulting jobs in other countries also after completing their education. Some of the top countries with good pay for Management Consultants are mentioned in the table below.

Name of the Countries Average Annual Salary (INR)
USA 81.52 L
UK 61.15 L
Japan 47.66 L
Germany 58.93 L

Management Consultant Salary: FAQs

Ques. What are Management Consultant jobs?

Ans. Management Consultants provide expert advice and suggestions to companies and organisations so that they can improve their performances and achieve desired goals. They work closely with clients to identify problems and develop and implement solutions.

Ques. What skills are required to become a Management Consultant in India?

Ans. The following are some of the top skills that a Management Consultant should possess:

  • Analytical skills.
  • Problem-solving skills.
  • Excellent communication.
  • Decision-making skills.
  • Teamwork skills.

Ques. Name some top companies that hire Management Consultants in India.

Ans. Accenture, Cognizant, Deloitte, IBM, Infosys, Wipro, etc are some of the top companies hiring Management Consultants in India.

Ques. What is the monthly salary of a Management Consultant in India?

Ans. Management Consultants earn between INR 1,43,440 to INR 1,48,789 per month in India.

Ques. How much a Senior Consultant is earning in India?

Ans. The average annual salary of a Senior Consultant in India is INR 16 LPA.

M.Phil. (Management) : 23 answered questions

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Ques. How tough is IIM B test for getting into fellowship program at IIM Bangalore?

● Top Answer By Siddant Mittal on 15 May 23

Ans. Unlike CAT, RAT (Research Aptitude Test) is not a unified exam. Evert IIM conducts its own admission process for FPM and thus the pattern of RAT varies from IIM to IIM. One of the patterns is termed as minor RAT followed at IIMB and at a few other IIMs. The RAT consists of different types of CAT questions including questions on verbal skills, logical reasoning, quantitative etc. However, the quantity of questions is less and the questions are distributed differently. Questions are designed to determine minimum eligibility requirements and are not meant for elimination thus the overall test is not too difficult . It's important to note that the RAT pattern for each of the IIMs changes every year. Though some preparation definitely needs to be made for these exams, I would not suggest giving more time to prepare for interviews than the written exam.Read more
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Ques. How is IIM Rohtak for an FPM program?

● Top Answer By Riya Roy Chowdhury on 31 May 23

Ans. IIM Rohtak offers a full-time doctoral program in management or FPM (full-time). This program is designed for working professionals. The exams accepted for admission to this program are CAT/GMAT/UGC-NET/GRE/GATE (in relevant disciplines). Those who did not appear for any of these exams can sit for the RAT (Research Aptitude Test). Here are a few highlights pertaining to the program Duration 4 years Fees INR 7.46 lakh Common eligibility PG degree in any discipline/ CA, ICWA, or CS/ 4 year or 8 semesters Bachelor’s degree Selection CAT/GMAT/UGC-NET/GRE/GATE/RAT The Ph.D. specializations offered under this program are in the following disciplines Economics & Public Policy Finance & Accounting Marketing & Strategic Management Management Information System Organizational Behaviour & Human Resource Management Operations Management & Quantitative Techniques Overall, IIM Rohtak FPM is a great choice for those working professors who are looking for a decent program to upgrade their managerial skills and climb the corporate ladder.Read more
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Ques. What is the Fellow Program (doctoral program) at NITIE Mumbai?

● Top Answer By Akshat Singh Chowdhury on 16 Mar 22

Ans. NITIE Mumbai offers a doctoral-level fellowship program. Recognized by the Ministry of HRD , this program is equivalent to a Ph.D. of any Indian Institute.  NITIE Fellow program is interdisciplinary in nature and covers different facets of industrial, business, and social issues. Finance, Marketing, Economics, Operation Management, Organizational Behaviour, Sustainability, Corporate Social Responsibility & Ethics are some of the specializations of the fellow program.   There are two types of Fellow program admission, i.e. regular full-time candidates and sponsored candidates . Regular full-time candidates with valid GATE or NET JRF scores get financial assistance from the institute.  The course work for the first year is the same for all departments except three steam-specific courses. During the second semester of the program, the institute will assign you a guide as per the research proposal that you will submit during the time of admission. Read more
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Ques. What is the cost of doing FPM in ISB Hyderabad?

● Top Answer By Ritesh Agarwal on 26 Mar 21

Ans. It is to be cleared first that the FPM course is completely equivalent to a Ph.D degree. It takes approximately 4-5 years to complete, along with accurate learning and research work. The fact is that ISB generally pays Rs. 40000 as a stipend along with House Allowances to the candidates who are doing FPM on a full-time basis. Thereby you are not required to pay anything from their own pocket, but they can earn 40 thousand per month. However, the most important thing is that FPM requires accuracy to complete the study without spending money. So, you have to study with full accuracy, and earn support from this institute to carry on your personal and family expenses. You have to enroll as a full-time candidate and should not have any other source of income.  If you have any other second income, then it will not work. After completing this program, the student will get unlimited rewards, considering their knowledge and income.Read more
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Ques. How good is the FPM program in IIM Kozhikode and what are the requirements to get into it?

● Top Answer By Mahak Sengupta on 20 May 23

Ans. The FPM program at IIM Kozhikode is designed for individuals who wish to pursue a career in research and academia. It’s recommended to be less dependent on your guide and then your program will be easier. The only disadvantage is that married students get their degree first and then married accommodation. There is intense competency for married accommodations here. Here are a few pros and cons to determine the worth of IIM Kozhikode  Pros IIM Kozhikode is surrounded by natural beauty and has a beautiful campus You can get non-veg food outside the campus The institute boasts of stellar placements The institute is known for its huge emphasis on sports and excellent sports facilities. Cons Pathetic hostel facilities with sometimes 7 people sharing the same 2BHK in Housing block C&D. There isn’t any A/C faculty and students have to bear the terrible heat Lack of different mess and variety of cuisine. Most IIMs have South Indian and North Indian mess. Because of its natural beauty, it is home to many insects and mosquitoes. Poor faculty for some subjects with no option to change. Unnecessary restrictions and rules imposed on students. FPM eligibility criteria  For the IIM Kozhikode FPM program, candidates are shortlisted based on their academic performance, Qualifying examination scores, and Research Proposal. After shortlisting they are called for a Personal Interview. The minimum cut-off for the CAT, GMAT, GRE, GATE, and IIMB Tests is mentioned in the table below: Category Cutoff General 60 NC-OBC/ EWS 55 ST/ SC/ PwD 50Read more
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Ques. I've got two options, TAPMI PGDM and IRMA PRM. What should I choose?

● Top Answer By Alka Singh on 09 Mar 23

Ans. When deciding on an MBA program, it's important to consider your interests and career goals. If you have an inclination towards rural management, then IRMA would be an excellent choice for you. On the other hand, if you're looking for a general MBA degree and specific profiles post-MBA, then TAPMI may be the better option. If rural management is your area of interest, then IRMA should be at the top of your list. IRMA has a strong reputation for its rural management program and provides excellent opportunities for students interested in the field. On the other hand, if you're looking for a broader MBA degree and want to explore different profiles, then TAPMI may be a better fit. When it comes to post-MBA profiles, TAPMI provides a variety of specializations to choose from, including finance, marketing, human resources, and operations. This means that you can choose a specialization that aligns with your interests and career goals. Additionally, TAPMI has a strong reputation in the industry and attracts many top recruiters, which can enhance your job opportunities post-MBA. Ultimately, the decision between IRMA and TAPMI will depend on your individual interests and career aspirations. Make sure to research each program thoroughly and weigh the pros and cons of each before making a final decision.Read more
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Ques. How tough is it to get into FPM program in XLRI?

● Top Answer By Siddarth Ghose on 20 May 23

Ans. The difficulty of getting into the FPM program at XLRI varies from person to person depending on several factors. Some of these determining factors are the number of applicants, their qualifications, and the admissions criteria of the program. Here are the eligibility criteria of the FPM program that might give you an insight into the toughness of getting into FPM XLRI. A BE / B. Tech. degree or its equivalent with at least 60% marks (50% for SC/ST candidates) obtained after completing higher secondary education (10+2) or equivalent, and followed by at least 2 years of relevant work experience, A bachelor's degree/equivalent of minimum three years duration with at least 60% marks (50% for SC/ST candidates) after completing higher secondary education (10+2) or equivalent, and followed by post-graduation (MBA/Master's degree in any discipline) from a university or a center of higher learning in India / abroad with at least 55% marks (50% for SC/ST candidates), An integrated master's degree of four / five years in any discipline, with at least 55% marks (50% for SC/ST candidates), obtained after completing higher secondary education (10+2) or equivalent, A professional qualification like CA, ICWA, or CS with at least 55% marks (50% for SC/ST candidates) However, in general, the FPM program at XLRI is considered to be quite competitive, with a rigorous selection process that includes an application, an interview, and a written test. To increase your chances of being accepted into the program, it is important to have a strong academic record, relevant work experience, and a clear research proposal.Read more
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Ques. How is the FPM program at IIM Rohtak? Did any student leave it after the first year itself?

● Top Answer By Harshita Singhania on 31 Jul 21

Ans. My cousin recently joined the institute and has seen students frequently vacate the FPM program of IIM Rohtak. There can be several reasons for this. However, it is somewhat unlikely and vague as well. Especially, when considering the issues concerning the director, as is known by the students. Nobody can vouch for the scenario taking place at the institute. Thus, it is always the right choice to analyze what you are going for. It is suggested to stay updated with any information at all.Read more
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Ques. Can you become a professor in IIMs or IITs after FPM from new IIMs, like Rohtak or Raipur?

● Top Answer By Biplab Roy on 21 Jan 23

Ans. Becoming a professor from the new IIMs is definitely possible but rare. The FPM program offered at the new IIMs has varied peers some being freshers while some with Masters from foreign universities. The following things matter when selecting an Assistant Professor in a new IIM Your experience  The quality of your papers The chances are rare because most of the new IIMs have professors who have done Ph.D. from older IIMs like IIM Ahmedabad, IIM Bangalore, and IIM Calcutta. Ph.D. is a program that totally depends on your performance and research. The initial years focus solely on research training and cannot be enough to make you eligible for faculty positions. So your chances are rare but not null.Read more
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Ques. How good is the placement scenario at iim kozhikode for fpm programme?

● Top Answer By Milind Padalkar on 14 Nov 22

Ans. The FPM or Fellow Program in Management at IIM Kozhikode does have its own placement program. This is because the batch size is very small.  But the FPM program in itself is such a meticulous one that all its students become scholars or researchers. The recent data confirms that most of its fellows have been placed in the top IIMs or other reputed Management Schools ranked high on NIRF. The only thing you need to be careful about is not delaying your thesis work and having good publications. If not you might face problems at the time of placements. The FPM degree has been renamed as the PhD and IIM Kozhikode provides excellent placements for the same.Read more
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