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Gender Gap in Consulting


We have examined salary data from 219 male and 69 female Consultants*, Senior Consultants* and Senior Managers* working for Management/Strategic Consulting firms in London.


*Approximate years of experience:

Consultants 1-2 years

Senior Consultants 3-5 years

Senior Managers 9-11 years


Highlights:

  • Do female graduates lack ambition? Fresh out of university, the 20% salary gap between the sexes can in large part be explained by the fact that a higher proportion of men tend to work for top tier institutions such as Bain and McKinsey, thereby earning more from the start of their careers
  • Are women better managers? While the proportion of women in top tier institutions remains low across all levels of seniority, thereby sustaining the base salary gap, performance related pay is 35% higher for women at Senior Manager level, showing how valued they are in management roles

Men's Base SalariesWomen's Base SalariesBase Salary Gap
Consultant40,00032,00020%
Sr Manager100,00085,00015%

Men's BonusWomen's BonusBonus Gap
Consultant1,5000100%
Sr Manager10,00013,500-35%

It is significant that from the outset of their career, women do not aim for the top firms, unlike their male counterparts. If they did so more consistently, it would be very interesting to see just how much more they can earn when they reach Senior Manager levels.

 

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