The Baseline: What Consultants Make vs. What Industry Pays
Let's start with real numbers, not hope.
What Consultants Currently Earn (By Level)
Senior Consultant/Manager: $150-180K base + $30-50K bonus = $180-230K total comp
Manager: $200-250K base + $40-80K bonus = $240-330K total comp
Senior Manager/Principal: $280-350K base + $60-150K bonus = $340-500K total comp
These numbers vary by firm (McKinsey pays more than Deloitte, which pays more than mid-market firms), but this is roughly the range.
What Industry Roles Pay (By Company Tier)
FAANG/Big Tech: $180-320K for manager-level exits (plus stock)
Fortune 500 Corporate Strategy: $160-240K for manager-level exits
Growth/Late-Stage Startup: $150-220K for director-level exits (plus equity)
VC/Growth Equity: $150-200K base + carry (highly variable)
Here's what jumps out: the raw salary numbers often look similar. But when you add stock, bonuses, and equity, the total comp picture changes dramatically.
The Real Numbers: How Much More Can You Actually Make?
The 25-35% increase is real. Here's why it happens.
Why You Can Make 25-35% More
Consulting firms pay you to think about problems and write recommendations. Industry pays you to solve problems and drive implementation.
Implementation is worth money. A consultant who says "you should restructure your supply chain" makes $200K. A person who executes that restructuring and saves the company $20M makes significantly more.
The reason it's possible: you're moving from a business model (consulting) that commodifies you, to a business model (industry) that wants you to own outcomes.
Real Math: Senior Consultant to Tech Manager
Starting comp at McKinsey: $180K base + $30K bonus = $210K total
Offer at Google: $200K base + $60K bonus + $100K stock/year = $360K Year 1
Increase: 71% (not 25-35%, but this is a top-tier tech company)
The stock is the wild card. It vests over 4 years, so Year 1 is real money, not hypothetical future value.
Conservative Math: Senior Manager to Corporate Strategy
Starting comp at Bain: $250K base + $60K bonus = $310K total
Offer at Fortune 500: $260K base + $65K bonus = $325K
Increase: 5% (below expectations)
But here's the thing: this consultant negotiated poorly. They could have gotten $280K base. Let's see what happens:
Negotiated offer: $280K base + $70K bonus = $350K
Increase: 13% (still below 25%, but better)
The lesson: negotiation matters enormously. That single move added $20K/year = $100K over 5 years.
By Role Type: What You Can Realistically Expect
Let's get specific by role, because "strategy role" means very different things.
Corporate Strategy Roles (The Most Common Exit)
Title Examples: Senior Manager of Strategy, Strategic Planning Manager, Director of Strategy, Head of Corporate Development
Salary Range: $200-280K (depends on company size and your background)
Bonus: 15-25% of base (so add $30-70K)
Total Comp: $230-350K
Stock/Equity: Rarely given at these levels (maybe 0.01-0.05% at mega-cap)
Realistic Increase vs. Consulting: 15-25%
Timeline to Promotion: 2-3 years to "Senior Director" ($300K+)
Real Example:
Senior Manager at McKinsey: $310K total comp
Director of Strategy at Microsoft: $280K base + $70K bonus = $350K total comp
Increase: 13% (plus options to promote to senior director in 2-3 years)
Why it's lower than other paths: Corporate strategy pays for your thinking, but the company already has the execution team. You're not carrying as much load.
Operations / COO Track (Higher Upside)
Title Examples: Director of Operations, VP of Strategy & Operations, Chief of Staff to CEO
Salary Range: $220-300K (higher than pure strategy)
Bonus: 20-30% of base
Total Comp: $270-400K
Stock/Equity: Usually 0.05-0.15% (real equity, not mega-corp options)
Realistic Increase vs. Consulting: 25-40%
Timeline to Promotion: Fast (2-3 years to VP or Chief of Staff to CEO, $350K+)
Real Example:
Senior Manager at BCG: $330K total comp
Director of Operations at growth company: $260K base + $65K bonus + 0.1% equity (worth ~$50K/year) = $375K + equity
Increase: 14% salary, but equity upside to 2-3x in 5 years
Why it's higher: You're running operations for the whole company. You own execution. The upside is real.
Tech / Product Leadership Roles (The Wild Card)
Title Examples: Senior Manager of Strategy, Principal PM, Director of Product Strategy
Salary Range: $220-320K (depends heavily on company and level)
Bonus: 15-25% of base
Total Comp: $260-400K base + bonus
Stock/Equity: 0.05-0.3% (this is where the real money is)
Stock Value/Year: $50-150K depending on company growth trajectory
Realistic Increase vs. Consulting: 15-40% (massive variance)
Timeline: 2-3 years to senior director ($400K+), plus equity compounding
Real Example (Conservative):
Manager at Bain: $280K total comp
Senior Manager of Strategy at established tech company: $240K base + $60K bonus + $80K stock/year = $380K Year 1
Increase: 36%
Real Example (Growth Company):
Senior Manager at McKinsey: $340K total comp
Director of Strategy at Series C startup: $200K base + $50K bonus + 0.2% equity (worth $100-200K/year if company succeeds) = $350-450K
Increase: 3-32% (depends on company success)
Why it's so variable: Tech companies use stock heavily. If the company goes public or gets acquired, you're suddenly much wealthier. If it fails, the equity is worthless.
VC / Growth Equity (Highest Risk, Highest Reward)
Title Examples: Investment Associate, Investment Manager, Principal
Base Salary: $150-200K (lower than corporate strategy)
Bonus: 10-50% based on fund performance
Carry: 0.5-1% of fund (this is the real money)
Total Comp Year 1: $150-250K (modest)
Total Comp in Good Years: $250-500K+ (if deals perform)
Realistic Increase vs. Consulting: Highly variable (could be 0% or 200%+)
Timeline: 3-5 years of building carry, then significant upside if deals perform
Real Example (Conservative):
Principal at Deloitte: $400K total comp
Investment Associate at growth equity: $160K base + $40K bonus + 0.5% carry (worth $30-80K if deals perform) = $230-280K Year 1
Decrease: -28% (but upside in years 2-5 if carries hit)
Why it's risky: Your comp is heavily dependent on the fund's investment performance, which is outside your control.
By Company: What Different Companies Actually Pay
Tech Giants (Google, Amazon, Meta, Microsoft, Apple)
Entry Level for Ex-Consultant: Senior Manager of Strategy or Principal PM
Salary: $220-280K base
Bonus: 15-25% ($35-70K)
Stock: $100-200K/year (vests over 4 years)
Total Comp Year 1: $355-550K
Stock Value Over 4 Years: $400-800K (real wealth creation)
Why it pays more: These companies have huge margins, billions in revenue, and they compete aggressively for talent.
Corporate Strategy (Fortune 500)
Entry Level for Ex-Consultant: Director of Strategy
Salary: $200-260K base
Bonus: 20-30% ($40-78K)
Stock: Rarely given (maybe 0.01% at most)
Total Comp: $240-340K
Why it pays less: Mature companies have lower margins. They don't see the ROI in paying tech-style comp.
Growth/Late-Stage Startup ($100M+ valuation)
Entry Level for Ex-Consultant: Senior Director of Operations, Head of Strategy
Salary: $180-240K base
Bonus: 10-20% ($18-48K)
Equity: 0.2-0.5% (real upside)
Total Comp Year 1: $200-300K (modest salary, big equity upside)
Potential Equity Value: $50K-$5M depending on exit (huge variance)
Why it pays less in salary but has equity: Startups need to preserve cash. They pay for upside.
Private Equity / Growth Equity
Entry Level for Ex-Consultant: Investment Associate, Analyst
Salary: $150-200K base
Bonus: 20-100%+ (deal dependent)
Carry: 0.5-2% (investment performance dependent)
Total Comp Year 1: $180-400K (huge variance)
Why it's so variable: Your bonus and carry are tied to the fund's returns, not your salary.
The Negotiation Framework (How to Get 25%+)
Most consultants leave money on the table by negotiating poorly. Here's how to actually do it.
Negotiation Tactic 1: Sell the Value
Consulting firms charge clients $10K-$20K per person per day. That's the pricing.
A consultant working on a $5M engagement for 6 months generates $500K in fees for the firm.
When you move to industry, you're replacing that $500K fee with your salary. From the company's perspective, they're saving money by not hiring a consulting firm, and you're cheaper than that.
How to use this in negotiation:
"The value I bring to your organization is equivalent to what you'd pay an external consulting firm. If you'd normally spend $300K on a consulting engagement for this project, my internal cost is a fraction of that. I'm asking for $240K because the value is clear."
This works because it's true.
Negotiation Tactic 2: Benchmark Aggressively
Use Levels.fyi, Blind, and Salary.com to research 5-10 comparable roles.
Screenshot the data. Bring it to negotiations.
"Levels shows this role at Google at $260K base. I'm asking for $245K given the company size."
This takes emotion out of it. It's data-driven.
Negotiation Tactic 3: Counter With Non-Salary
If they won't budge on salary, negotiate everything else:
Sign-on bonus: $50-150K (one-time, huge impact)
Stock grant: +0.05% equity (worth real money over 4 years)
Bonus guarantee: Guaranteed 15% first year (reduces risk)
PTO: Extra 2-3 weeks (worth money in quality of life)
Remote flexibility: Remote option or 1 day/week in office (worth a lot to consultants)
Flexible hours: Trusting you on when/where you work
Companies have levers beyond salary. Use them.
Negotiation Tactic 4: Never Negotiate With One Offer
This is the big one.
Get 2-3 offers. Use them as leverage.
Bad negotiation: "I got an offer for $220K. Can you match it?"
Good negotiation: "I have an offer for $220K and another for $240K. Your company is my top choice because [reason]. Can you meet $245K?"
Suddenly you have leverage. You're not asking for charity. You're asking them to match what someone else is paying.
This single tactic adds $30-50K to your offer.
Real-World Examples (With Math)
Let's walk through actual scenarios.
Example 1: Manager-Level Exit from McKinsey to Tech
Current Situation:
Role: Manager, McKinsey
Base: $220K
Bonus: $60K
Total Comp: $280K
Experience: 4 years at McKinsey
Job Search:
Recruiter reaches out from Google
Initial offer: $220K base + $55K bonus + $120K stock/year = $395K Year 1
Your thinking: "This is only $115K more than consulting. That's not that big."
The Problem: You didn't negotiate.
What Happens When You Negotiate:
Benchmark: Levels.fyi shows $240K-$260K base for your level at Google
Counter: "I have another offer at $240K base. Can you meet $250K?"
Result: Google says yes (they always try low first)
New offer: $250K base + $62K bonus + $130K stock/year = $442K Year 1
The Math:
Starting comp: $280K
Negotiated comp: $442K
Increase: 58% Year 1
Over 4 years (stock vests): Stock options worth $400-520K total
Real 5-year wealth: $280K × 5 = $1.4M at consulting vs. $442K + $442K + $442K + $442K + $250K = $2.018M at Google
Difference: $618K more over 5 years (just by negotiating one offer)
Example 2: Senior Manager Exit to COO Track
Current Situation:
Role: Senior Manager, Bain
Base: $260K
Bonus: $80K
Total Comp: $340K
Experience: 6 years at Bain
Job Search:
Recruiter reaches out from growth company
Initial offer: $240K base + $60K bonus + 0.08% equity = $300K + equity upside
Your thinking: "I'm taking a $40K pay cut. This is a bad deal."
What You're Missing: The equity.
What Happens When You Understand the Equity:
0.08% of a $500M company = $400K (today's value)
Company is growing 40%/year
In 5 years, if valued at $2B, your 0.08% = $1.6M
So your Year 1 comp of $300K + future equity worth $1.6M = Total wealth of $1.9M
The Real Picture:
Consulting: $340K/year × 5 years = $1.7M total
Growth company: $300K/year × 5 years + $1.6M equity = $3.1M total
Difference: $1.4M more (if company succeeds)
The Risk: If the company fails, the equity is worthless.
The Point: Don't dismiss offers with lower salary if they have equity. Model the upside.
The Hidden Money: Stock and Equity
This is where real wealth happens, and most consultants miss it.
Tech Stock (FAANG)
When you get stock options at Google, Amazon, or Microsoft, you're getting free wealth creation.
Example: $100K in stock grants over 4 years = $25K/year in value.
Year 1-4: You have $25K of compensation that you didn't negotiate for. And if the stock price goes up (which it usually does), you have even more.
Over a 5-year career at a top tech company, stock typically adds $300K-$1M to your total comp, depending on the company and your level.
Startup Equity (0.1%-0.5%)
Startup equity is a lottery ticket with better odds than actual lotteries.
If the company is genuinely good and exits at $1B+:
0.2% = $2M
0.5% = $5M
If the company fails (which 50% do):
0% (worthless)
How to think about equity:
If you believe in the company and the team: take lower salary in exchange for more equity
If you don't believe in the company: demand full market salary
Always negotiate equity too. "Can you add 0.05% equity to the offer?" (Companies often say yes.)
Don't Fall Into These Traps
Trap 1: Accepting the First Offer
This is the biggest money leak. Most first offers have 15-25% room in them.
Consultants are trained to be polite. When you get an offer, you feel like you should take it immediately.
Don't.
Counter offer. Every single time. It adds $30-50K to the offer with zero downside.
Trap 2: Only Negotiating Salary
If a company won't move on salary, ask for:
Sign-on bonus (this adds $50-100K immediately)
Extra stock/equity (0.05-0.1% real upside)
Guaranteed bonus first year (reduces risk)
Companies have way more levers than salary. Use them.
Trap 3: Not Researching the Role
Before you negotiate, know what the role pays.
A "Senior Manager of Strategy" title pays $200K at a mid-market company and $260K at Google.
Same title. $60K difference.
If you don't know, you'll accept the mid-market offer without realizing you could have gotten more at a better company.
Trap 4: Timing the Negotiation Wrong
You have maximum leverage AFTER they've decided they want you, but BEFORE they've hired someone else.
Negotiate after the offer comes, not before.
Bad timing: "How much would this role pay?" (They'll lowball because you haven't been selected yet.)
Good timing: "I'm excited about the offer. Here's what I'm thinking for comp..." (They've decided they want you. They're motivated to close.)
The Checklist: How to Get 25%+
Before you start your job search:
Know what you make now (base + bonus + total comp)
Research what your target role pays (Levels.fyi, Blind, Salary.com)
Aim for 25% increase (be realistic about which roles pay more)
Get 2-3 offers simultaneously (leverage + competition)
Counter every offer (adds $30-50K)
Negotiate non-salary if they won't budge (stock, bonus, sign-on)
Factor in equity/stock over 5 years (massive upside at tech companies)
Never accept the first offer
Follow this process: You'll get 25%+ increase.
Don't follow it: You'll leave $100K-$500K on the table over 5 years.
The Bottom Line
The average consultant thinks 10-15% is good. It's actually terrible.
25-35% is realistic. 40%+ is achievable with negotiation and the right role.
The difference isn't luck. It's knowing what's possible and executing like you have leverage (because you do).
Your consulting background is valuable. You know how to solve complex problems. You understand business. You can drive execution.
That's worth money. Real money.
Use the framework above. Get the increase.
About author
San helps management consultants exit traditional consulting and land high-paying industry roles without burnout. Before building Consultant Exit, San spent a decade across Deloitte, Accenture, and Oracle, where he saw firsthand how unpredictable and unsustainable consulting careers can be. After failing his first startup and returning to consulting, he eventually built a systematic approach for exiting consulting the right way, which became the foundation of Consultant Exit. Today he and his team help consultants transition into roles across product, strategy, operations, and startups using a proven, data-driven reverse recruiting system
San Aung
Founder of Consultant Exit (Ex-Deloitte, Accenture, Oracle)
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