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

    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!

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    Quote Originally Posted by northernladuk View Post
    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.

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    Quote Originally Posted by edison View Post
    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!
    Hmm. I'm beginning to suspect that you need to find all the packing the computer came in...

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    Quote Originally Posted by edison View Post
    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.
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    Quote Originally Posted by Lance View Post
    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.

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    Quote Originally Posted by edison View Post
    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.

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    Quote Originally Posted by NotAllThere View Post
    £7000 a day? INKSPE!

    My lunch costs more than that

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    Quote Originally Posted by vetran View Post
    My lunch costs more than that
    Being in engineering sector, best I ever managed was £40 an hour.
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    Don't worry.... when hyperinflation kicks in £10k will just be enough to get a Greggs sandwich.
    “We've always defined ourselves by the ability to overcome the impossible. And we count these moments. These moments when we dare to aim higher, to break barriers, to reach for the stars, to make the unknown known. We count these moments as our proudest achievements. But we lost all that. Or perhaps we've just forgotten that we are still pioneers. And we've barely begun. And that our greatest accomplishments cannot be behind us, because our destiny lies above us.”

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