£7,000 day rate - how the other half live

[edison]

I heard at a recent client that they had some programme management consultants in at £4,000 a day.

Then a friend mentioned where he used to work at a major bank, at one point there were four consultants sitting opposite him charging £7,000 a day. The latter were from one of the big strategy houses.

What a gravy train!

[northernladuk]

I heard Freddie Starr ate someone's hamster. Must be true.

[edison]

I heard Freddie Starr ate someone's hamster. Must be true.

What, you think that’s bogus? I’m talking about senior level consultants from the likes of McKinsey, not someone who can do a bit of business analysis or coding. According to this Financial Times article, Directors at McKinsey earn between $1-3million a year.

Subscribe to read | Financial Times

There are plenty of other articles about rates at the big strategy consultants that back those figures up.

[NotAllThere]

I heard at a recent client that they had some programme management consultants in at £4,000 a day.

Then a friend mentioned where he used to work at a major bank, at one point there were four consultants sitting opposite him charging £7,000 a day. The latter were from one of the big strategy houses.

What a gravy train!

£7000 a day? INKSPE!

[Lance]

I heard at a recent client that they had some programme management consultants in at £4,000 a day.

Then a friend mentioned where he used to work at a major bank, at one point there were four consultants sitting opposite him charging £7,000 a day. The latter were from one of the big strategy houses.

What a gravy train!

if they work for a big consultancy they aren't getting £7k a day themselves.
Comparing consultancy day rates with contractor rate is futile, depressing and utterly pointless.
The best day rate I ever 'took' was more than twice what I can get as a one-man contractor, and that was over 20 years ago.

[edison]

if they work for a big consultancy they aren't getting £7k a day themselves.
Comparing consultancy day rates with contractor rate is futile, depressing and utterly pointless.
The best day rate I ever 'took' was more than twice what I can get as a one-man contractor, and that was over 20 years ago.

I understand what you’re you’re trying to say but you’re wrong because at that level the utilisation model is different. Consulting Partners are expected to bill about 10-20% of their time. Their earnings most certainly can equate to £7k a day because the rest of their time is spent on selling and client engagement.

I’ve worked for a UK consulting firm where the most senior consulting partners were able to get annual bonuses of £1m or more. The big US strategy consulting equivalent partners can make triple that.

[vwdan]

I understand what you’re you’re trying to say but you’re wrong because at that level the utilisation model is different. Consulting Partners are expected to bill about 10-20% of their time. Their earnings most certainly can equate to £7k a day because the rest of their time is spent on selling and client engagement.

I’ve worked for a UK consulting firm where the most senior consulting partners were able to get annual bonuses of £1m or more. The big US strategy consulting equivalent partners can make triple that.

I heard at a recent client that they had some programme management consultants in at £4,000 a day.

Then a friend mentioned where he used to work at a major bank, at one point there were four consultants sitting opposite him charging £7,000 a day. The latter were from one of the big strategy houses.

What a gravy train!

Can you make up your mind what you're talking about, because these things aren't all the same. If somebody works for a Consultancy then they aren't seeing a chunk of that day rate - fact. Either talk big consultancy rates, or talk one man band rates - but you can't really compare the two.

[vetran]

£7000 a day? INKSPE!

My lunch costs more than that

love MF

[xoggoth]

My lunch costs more than that

Being in engineering sector, best I ever managed was £40 an hour.

[scooterscot]

Don't worry.... when hyperinflation kicks in £10k will just be enough to get a Greggs sandwich.