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

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) : 21 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 08 Jul 22

Ans. The IIM B test for getting into a fellowship program which is also known as RAT is difficult. It can be challenging if you haven’t prepared for CAT/GMAT/GRE/JRF in the past or took any kind of prep course. The examination includes theory questions from specific areas of Game Theory, Calculus, or other advanced techniques from standard undergrad syllabus but the examination syllabus isn’t limited to these topics.  IIM B test isn’t an aptitude test like CAT. As these are area-specific tests, a good weightage is given to the test score for evaluation. Read more
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Ques. How is IIM Rohtak for an FPM program?

● Top Answer By Aditi Guha on 04 Sept 22

Ans. IIM Rohtak’s FRM program is average at best. The number of faculties available is very few. So, the advisor keeps changing. Also, there is hardly any research work happening. You won’t get the proper guidance and training needed to continue the degree. The lack of a proper research interface makes it a poor choice for pursuing an FRM program. 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 Vijay Patnayak on 15 Sept 21

Ans. The Fellow Programme in Management (FPM) of IIM Kozhikode is a full-time, residential program and is a financially supported doctoral program as was once initiated by the institute.  Here is a breakdown of various vital points, The program is renowned for its rigorous, interdisciplinary training mandated in every domain of business management. The FPM graduates are one of the vital sources for management researchers, along the lines of faculty resources in top-notch educational domains, industries, businesses, governments, and societal advancements.  Two-thirds of the students belonging to the FPM program are now either placed at several national and international institutes. Applicants holding an Executive PGDM from IIM Kozhikode, the applicants bearing a PGDM (full-time 2-year program) from any of the IIMs, despite their establishment, can be exempted from taking qualifying tests.  Candidates would be eligible based on their recommendations, their profile and their qualifying scores. Candidates would have to further go through a personal interview (and/or written exams) at IIM Kozhikode. Read 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 Aditi Guha on 29 Aug 22

Ans. It is definitely not easy to get into the FPM program in XLRI. You need to have good research aptitude, along with a decent XAT/GMAT score. You should have a consistently good academic record as well. Shortlisted students are called for an interview. Students who perform well in the PI round are selected for final admission.Read more
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Ques. How good is doing FPM in IIM-Rohtak? What are the the future prospects? Is there any scope to work for MNCs after doing this course?

● Top Answer By Animesh Patel on 02 Aug 21

Ans. My cousin is in his sophomore year, pursuing FPM at IIM Rohtak, and here is what he has to say about the course. Course structure: In the very beginning of your first year, you will have to attend the classes with the students from PGP. From the second year onwards, you will attend classes that are a fair mix of several PGP classes and a few subjects of your own preference. The only point of difference both the scenarios share is that in a class with the PGP students, you will have to sit with at least 50 students, while if you are in the FPM class alone, there will be about 5 other students at a maximum.The second-year usually is packed with submissions of certain mini-thesis papers and a comprehensive viva, following which you are transported on to research. The duration provided can be of 2 years or more. Faculty: The faculty at the institute are supportive and experienced. Every student secures a hand of support whenever required and obtains guidance from the very beginning of the first year. You can change your guide, from the second year, as per your choice. Campus: The main campus is yet under establishment.IIM Rohtak, at present, is operating from Maharishi Dayanand University. Other than that, the rooms you can avail of, have sharing policies and do not support family accommodation. Career Exposure: Following your studies, you can either go on to become a researcher or an academician. According to the recent placement highlights the average CTC offered at the institute is around 13 LPA. You can check the detailed placement stats of the institute, on the official website. Here is a detailed outlook of the institute. Hope this helps you understand better.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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