Average Income

• A survey conducted by the U.S. Bureau of Labor Statistics in 2009 collected wage information from over half a million individuals working as management consultants throughout the United States. It concluded that the annual average salary for the job was $84,650. Those in the top bracket of earners--the highest 10 percent--received an average of $134,820 while their contemporaries in the lowest-earning 10 percent were paid an average of $42,550.
  
  

Income by Industry

• The vast majority of management consultants are employed by management, scientific and technical consulting services. The Bureau of Labor Statistics lists the average annual salary for this sector of the industry as $97,100, slightly more than the wages offered by computer systems design and related services--$91,040. Federal government agencies were listed as offering management consultants higher average salaries that their state government counterparts--$84,280 compared with $56,340. Financial investment services offered an average pay rate of $103,920 per year.
  
  

Income by Geography

• The Bureau of Labor Statistics' 2009 survey also showed how location impacts upon salary levels for management consultants. It listed Massachusetts as offering the best wage rates across all industry areas--$100,310--followed by Georgia--$96,260. Maryland was listed at just $87,980. The metropolitan district with the highest average salaries was Savannah, Georgia--$118,030--while, in contrast, Carson City, Nevada was listed at just $63,090. Wage comparison website SalaryExpert.com conducted its own survey of management consultants, looking at average pay in some of the country's major cities. It listed New York, New York State as averaging $124,543 across all industry sectors while Charlotte, North Carolina offered $103,199. Two cities in Florida were among the lowest-paying locations--Miami at $79,319 and Orlando at $74,087.
  
  

Prospects

• The Bureau of Labor Statistics is expecting to see a 24 percent rise in employment opportunities for management consultants over the period from 2008 to 2018. Technological innovations, evolving regulation and a fluctuating economic climate are the primary motivations for this growth as government and industry increasingly use consulting services to analyze their operations. However, the BLS also advises that management consultancy is very competitive industry given the range of backgrounds from which one is able to enter the profession. Individuals with specialized knowledge, in, say, e-commerce, should experience the best opportunities, although salary levels throughout the profession are likely to remain extremely attractive.