What is the Average Business Consultant UK Salary in 2021?

If you’re considering a career in business consulting, it’s essential to understand the earning potential associated with this field. The salary of a business consultant in the UK is influenced by a variety of factors, including niche, experience, and location. In this article, we’ll provide insight into how much you can expect to earn as a business consultant in the UK in 2021.

What is Business Consulting

Business consulting is a multi-faceted profession that helps companies improve their performance by analyzing existing business problems and developing strategies for improvement. Business consultants work with companies of all sizes and sectors and advise them on issues ranging from organizational structure to financial performance.

How Much Do Business Consultants Earn in the UK?

According to data from Glassdoor, the average salary for a business consultant in the UK is around £45,000 per year. However, this figure can vary significantly based on several factors, including experience, education, and location.

Factors that Influence Business Consultant Salary

Experience

As with many professions, experience is a critical factor in determining salary levels for business consultants. Entry-level positions in business consulting typically pay around £26,000 to £35,000 per year, while those with over ten years of experience can earn upward of £70,000 per year.

Education

In the UK, business consultants are not required to have a specific degree or certification. However, many employers prefer candidates with an MBA or another relevant degree. Those with advanced degrees tend to earn higher salaries than those with just a bachelor’s degree.

Location

Business consultant salaries can vary based on the location of the employer. For example, London-based consultants tend to earn more than those working in other parts of the country. Additionally, larger firms in urban areas typically pay more than small firms in rural areas.

Case Study: Salary Comparison for Business Consultants in London vs. Manchester

To illustrate how location can impact salary levels, let’s compare the average salaries of business consultants in London and Manchester. According to Payscale, the average salary for a business consultant in London is £45,669, while in Manchester, it’s £29,621. This disparity is due to the higher cost of living in London and the higher concentration of large consulting firms in the city.

Conclusion

In conclusion, the business consulting profession offers a lucrative salary for those with the right skill set and experience. The average salary for a business consultant in the UK is around £45,000 per year, but this can vary significantly based on location, experience, and education. Remember that business consulting is a highly competitive field, and in addition to an excellent salary, you can also expect to receive perks such as flexible scheduling, opportunities for travel, and exposure to a wide variety of industries.