Consulting Salaries in France

For many graduates, salary is a key factor when choosing a career in consulting, alongside prestige and diverse projects. But what starting salaries can you expect in consulting in France and what does a consultant's salary package include?

🔎 In this article, we’ve compiled an overview of consulting firms' salary structures, bonus schemes, and salary progression specific to the French market for you.

Salaries in Consulting in France and Germany

When it comes to consulting salaries, it's essential to consider the differences between countries. In France, average salaries for entry-level professionals in the first three years of consulting range from €40,000 to €80,000 per year. In comparison, someone starting a career in management consulting in Germany can expect an average annual salary of between €50,000 and €60,000. Do note that these figures may vary based on company size, location, and level of experience.

The wage differences between Germany and France can be attributed to several factors, including variations in the cost of living, social security contributions, insurance, and taxes. For instance, France has a well-developed social security system, which leads to higher social security contributions. Based on a gross salary of €45,000, the diagram below illustrates examples and differences to compare the net salaries in Germany and France. 🌍

Despite a higher gross salary in Germany, there is more money left at the end of the month in France. Although social security contributions in France are significantly higher, the wage tax does not have the same negative impact on net income. This means that, on average, about 2,428 EUR more remains in your pocket, making the financial situation in France appear more advantageous.

In the following figure, you can also see the salary trends in France from 2021 to 2024.

Types of Bonus Payments in Consulting

In addition to the base salary, many consulting firms offer various types of bonuses. These bonuses can significantly increase overall compensation and are often based on individual performance. Here are some examples of bonus payments:

• Performance Bonus: This bonus is based on individual performance and goal achievement. The better your performance, the higher this bonus can be.
• Project Bonus: If you are involved in particularly successful projects, you could receive a bonus based on project success.
• Profit Sharing: Some companies offer their employees the opportunity to share in the company's profits, leading to additional benefits.

Attractive positions for high bonuses are typically linked to the value you bring to the company. Strong analytical skills and the ability to solve complex problems can enhance your chances of receiving high bonuses.

A significant majority of currently employed consultants are accustomed to receiving bonuses regularly. These bonuses typically range from 3% to 5% of their annual salary. Considering the average starting salary of €45,000, this equates to a monetary value of approximately €1,350 to €2,250.

In addition to financial bonuses, various other perks and privileges are appealing. These additional benefits, known as secondary benefits, may include company vehicles, complimentary train passes, access to cultural venues, entry to exclusive lounges at significant events like sports matches or concerts, and the chance for a fully paid sabbatical.

Because it is not unusual for employees in the industry to work unpaid overtime, offering paid overtime or compensatory time off can be a valuable secondary benefit.

Salaries by Region and City in France

Salaries vary not only between countries but also within France. Here are some examples for average annual salaries in some French cities:

Of course, personal factors like company size and experience level can also play a big role here. It's also worth noting that wages are highest in places where the cost of living is also higher than the national average.

How Education Levels Affect Salaries in France

Education plays a crucial role in shaping career paths and salary prospects. In France, different levels of education significantly impact not only employment opportunities but also earning potential.

In the following figure, you can see the salary differences between various degrees: Master's degree, Bachelor's degree, Certificate/Diploma, and High School Diploma in France.

However, it is important to note that education is only one factor influencing salaries. Practical experience and skills also play a major role. For example, several years of experience in consulting can lead to corresponding salary increases.

Salaries in French Consulting Companies

Now we take a closer look at the job situation in the consulting industry in France. Specifically, we will analyze the salaries and salary ranges of the most prestigious consulting firms in the country. Based on current job advertisements, the compensation structures of leading companies, including MBB (McKinsey, BCG, Bain) and the Big Four (Deloitte, KPMG, PwC, Ernst & Young), will be detailed:

Salaries at MBB in France

In France, MBB firms in 2024 exhibit competitive salary structures, with McKinsey offering the highest total cash compensation, followed closely by BCG and Bain. Common features include similar base salaries, performance bonuses, and generous paid time off, while differences lie in the specifics of bonuses and total cash packages, with McKinsey leading in performance incentives and BCG in overall cash compensation.

Salaries at the Big Four in France

In summary, the Big Four firms in France offer competitive compensation packages, with base salaries ranging from approximately €40,000 to €46,303. While Deloitte and PwC provide solid total cash compensation, KPMG stands out with the highest base salary. Common characteristics include similar paid time off policies, while differences emerge in performance bonuses, with Deloitte offering the only specified bonus, indicating variations in incentive structures across the firms.

Even though large companies often attract with their well-known names, it's worth taking a look at smaller consulting firms. Factors such as the company's specialization, corporate culture, and other benefits should be considered in your decision-making process for an employer, just as much as salary. Navigating the jungle of consulting firms is not always easy. With our tool "Match Your Career" we make it a bit simpler for you: Just specify what's important to you in an employer, and we'll find the right consulting firm for you.

General Salary Development in Consulting in France

Salaries in consulting in France are subject to annual changes related to the economic situation and the global market. According to Salary Explorer research, consulting salaries have shown stable growth in recent years. On average, median salaries have increased by about 2% to 3% annually.

Comparing this development in consulting with the average salary increase in France and worldwide, it is clear that salaries in consulting have grown at an above-average rate. This is partly due to the high demand for professionals in the consulting industry.

The chart shows that companies operating in large corporations and lucrative industries offer higher raises:

The Future of Consulting Salaries in France

It's difficult to predict exactly how it will develop, but some guesses can be made based on research and current trends. According to a study by the ERI Economic Research Institute, consultant salaries are expected to see similar increases in the coming years, and demand for qualified consultants will remain very high. With the current development of the French labor market and the global shortage of skilled workers, the situation is likely to improve further. 📈

An important factor influencing payroll development is continued digitalization. As new technologies and consulting methodologies emerge, the way consulting works may change and lead to new compensation structures. Advisors with digital skills and expertise in the fields of artificial intelligence, data analytics, and digital transformation are especially sought-after.

Key Takeaways About Consulting Salaries in France

• The topic of salaries in consulting is complex and includes differences between France and Germany.
• When making career decisions, one should not only consider salary but also company culture, development opportunities, and work-life balance.
• Thorough research and interaction with professionals can help provide a comprehensive understanding of the consulting industry.
• Based on this information, you can make informed decisions and choose the career path that is right for you.

Earning Potential in Consulting: A Look at Other Countries

In our consulting blog, you'll find not only this article but also many more that explore consultant salaries in various countries around the world. Be sure to check them out!

👉 Consulting Salaries in the United States 2024

👉 Consulting Salaries in the United Kingdom 2024

👉 Consulting Salaries in DACH 2024

👉 A Comparison of Consulting Salaries in Australia

👉 Consultant Salaries in Canada

👉 Consultant Salary in Singapore