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New data from Management Consulted names boutique firms where recent grads can earn over $90,000.
According to the data, the rate of growth for boutique firms increased compared to 2020.
However, in-house strategy groups at large corporations pose a threat to some boutique firms.
Getting a job out of undergrad or a master's program that pays close to six figures isn't uncommon in the world of consulting — and it doesn't have to be at a Big-3 firm.
Many smaller, boutique firms offer recent grads just as much compensation, if not more, than larger firms.
"Firms are seeing an explosion of demand for consulting services," Namaan Mian, chief operating officer at Management Consulted, told Insider. This is driving a parallel demand for talent, and firms that can afford to secure more staff are doing so through increasing total compensation and offering benefits like more PTO.
To be sure, some boutique firms are feeling a hit from the rise of in-house strategy groups at large corporations, who want to use internal talent instead of hiring outside firms to do their strategy work.
Still, for the past three years, consulting firms have continued to increase the hiring of specialists and candidates from non-target schools, which could mean more job opportunities, especially as the economy booms while millions of Americans quit their jobs.
Below are 12 notable boutique consulting firms offering over $90,000 in total potential compensation for undergrad and master's degrees.
12. West Monroe
Having a positive attitude is rewarding
Cecilie Arturs
Potential total compensation: up to $91,000 (geo contingent)
Signing bonus: up to $7,500
PTO vacation: Unlimited
West Monroe is a business and technology consulting firm that was founded in 2002. The firm has over 1,400 professionals, and its primary clientele are in the US and Canada. Consultants here work with organizations to develop, build, and operate their businesses.
The firms specializes in mergers and acquisitions, private equity, cybersecurity, and business analytics.
11. Analysis Group
Hinterhaus Productions
Potential total compensation: up to $92,000
Signing bonus: $10,000
Analysis Group is an international economics consulting firm with offices in North America, Europe, and Asia.
Consultants here work with Fortune Global 500 companies, law firms, and government agencies to provide strategic insight into economics, healthcare analytics, finance, and strategy.
10. Cornerstone Research
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Potential total compensation: up to $93,500
Signing bonus: $15,000
Relocation: 100% of moving expenses; 4 nights in hotel while house hunting; all broker fees
Cornerstone Research is a consulting company that works with attorneys to provide testimony, and financial and economic analysis services in litigation and regulatory proceedings.
This firm is known for its culture of growth, and has a strong team-based approach to casework that allows employees to work alongside professionals on all levels of the firm, as well as leading industry and academic experts.
9. ClearView Healthcare Partners
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Potential total compensation: up to $95,000
Signing bonus: $7,500
Relocation: up to $2,500
PTO vacation: 15 days
ClearView Healthcare Partners was founded in Boston in 2007 as a global strategy consulting firm. The firm serves companies based in the life science sector, working with professionals in the biotechnology, pharmaceutical, medical device, and diagnostic fields.
Consultants at ClearView must have typical problem solving and communication skills, as well as experience in the field of life science.
Kearney is a global strategic management consulting firm where consultants use strategic insight and a collaborative working style to help clients. The firm works with top government and nonprofit organizations, and 75% of Fortune Global 500 companies.
Part of the company's purpose is to "drive positive impact" with clients through innovative ideas. Kearney has a nonprofit organization that offers "insights on global trends in energy transition, technologies, and strategic implications for private-sector businesses and public-sector institutions."
7. ZS Associates
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Potential total compensation: up to $99,000
Signing bonus: up to $8,000
Relocation: up to $3,000 (Canada: up to C$3,000, Tokyo: up to ¥300,000)
PTO vacation: 15 days
ZS Associates is a global management consulting firm where consultants offer services and insights in sales and marketing strategy, operations, and execution.
Consultants here provide issue-specific solutions, as well as large-scale business transformations to help companies increase sales.
ZS Associates offer undergraduate and master's grads up to $18,000 for cost of living adjustments, and cover up to $5,000 of tuition.
6. Altman Solon
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Potential total compensation: up to $109,250
Signing bonus: $15,000
Relocation: up to $5,000
PTO vacation: 20 days
Altman Solon is the world's largest strategy consulting firm focused exclusively on the technology, media, and telecom (TMT) sectors. The firm assists global operating companies and financial groups with value-driven decision making.
Consultants here help corporate clients identify, develop, and implement company strategies, new-market entry approaches, digital innovations, and global M&As.
Oliver Wyman is a global management consulting firm primarily focused on banking and financial services, with offices in 27 countries. Consultants here combine industry knowledge with specialized expertise in strategy, operations, risk management, organizational transformation, and leadership development.
In 2019, Oliver Wyman was ranked one of the best places to work, and one of the best workplaces for millennials by Great Place To Work.
4. Accenture Strategy
REUTERS/Albert Gea
Potential total compensation: up to $113,100
Signing bonus: $12,500 (Canada: C$10,000)
Relocation: up to $2,500
PTO vacation: 21 days
Accenture is a global consulting firm with offices and operations in over 50 countries serving over 40 industries.
The firm helps clients with strategy and consulting, designing and building interactive experiences, technology, and operations.
Undergraduate and master's grads get a 15% discount on Accenture stock.
3. OC&C Strategy Consultants
10'000 Hours/Getty Images
Potential total compensation: up to $115,700
Signing bonus: $7,500 (UK: £7,000)
Relocation: up to $5,000
PTO vacation: 20 days
OC&C Strategy Consultants is a management consulting firm offering services in corporate strategy, divisional strategy, mergers and acquisitions, and performance improvement.
Consultants here work with top management at multinational corporations, leading national companies, private equity firms, and governmental and public institutions.
Galt & Company was acquired by AlixPartners, and will form AlixPartner's new Corporate Strategy & Transformation division.
Consultants here work with clients on corporate and business unit strategies, resource allocation, performance management, and building management capabilities that are self-sustaining.
The firm helps clients "win" in customer and capital markets, and tailors its approach to each client's unique requirements.
1. Alvarez & Marsal
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Potential total compensation: up to $155,000
Signing bonus: $10,000 (Dallas/Houston: $5,000)
Alvarez & Marsal is an independent global professional services firm focused on operational expertise and a hands-on approach. Consultants at this firm work with large and mid-sized PE firms, boards of directors, and corporate management.
The firm's industry expertise is focused on energy, financial services, healthcare, the public and social sectors, and real estate.
