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Why do consultants in US get paid more than anywhere else in the world?

Figured its worth a punt to ask on here.

https://managementconsulted.com/consulting-salaries/2016-management-consulting-salaries-undergraduate-mba-interns/

So just saw this.

One stark thing I notice is that even at undergrad level consultants in US are making like 30% more than consultants in the UK & Europe (after adjusting for exchange rates ofc). Anyone know why this is?
companies willing and able to pay more probs
I'd bet on it being a cultural thing over there and also, people over here seem to be willing to work for less without complaining.

Posted from TSR Mobile
Original post by Zweihander
Figured its worth a punt to ask on here.

https://managementconsulted.com/consulting-salaries/2016-management-consulting-salaries-undergraduate-mba-interns/

So just saw this.

One stark thing I notice is that even at undergrad level consultants in US are making like 30% more than consultants in the UK & Europe (after adjusting for exchange rates ofc). Anyone know why this is?


The labour markets in the UK (for Consulting) are nowhere near as competitive. Companies can afford to pay less than in the US because the coupled benefits of living in the UK (more holidays, free healthcare) in addition to the lower number of talent feeders (i.e. top B-schools) outweigh the expense of paying more to attract similar talent.

A similar phenomenon is happening with tech companies. Silicon Valley is the world centre of top tier technology talent; it has the highest concentration of top 10% level talent globally.

That, with the insane inflated cost of living in the San Fran Bay Area, push starting salaries (for software engineer/product manager grads) over the $100k mark. Add all the extras (bonus, stock award, signing bonus) and a first year techie (PM/Software Dev) could easily push $150-160k.

Posted from TSR Mobile

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