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Career Handbook - Management, Scientific, and Technical Consulting Services Earnings
Management, Scientific, and Technical Consulting Services
Earnings

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Earnings

Earnings in management, scientific, and technical consulting services typically are considerably higher than the average for the entire economy. Nonsupervisory wage and salary workers in the industry averaged $809 a week in 2002, compared with $506 for workers throughout private industry. Earnings in the largest occupations in management, scientific, and technical consulting appear in table 2.
 
Table 2. Median hourly earnings of the largest occupations in management, scientific, and technical consulting services, 2002
Occupation Management, scientific, and technical consulting services All industries
General and operations managers $46.58 $32.80
Management analysts 34.52 29.01
Employment, recruitment, and placement specialists 25.88 18.95
Accountants and auditors 20.88 22.60
Executive secretaries and administrative assistants 16.71 16.06
Bookkeeping, accounting, and auditing clerks 14.30 13.16
Customer service representatives 13.27 12.62
Secretaries, except legal, medical, and executive 12.98 12.16
Telemarketers 9.70 9.40
Office clerks, general 9.47 10.71

The data in the table do not reflect earnings for self-employed workers, who often are paid very well. Also, both managerial workers and high-level professionals can make considerably more than the industry average. According to a 2002 survey by the Association of Management Consulting Firms, the average total cash compensation (salary plus bonus or profit sharing) for research associates was $47,826; for entry-level consultants, $61,496; for management consultants, $78,932; for senior consultants, $112,716; for junior partners, $168,998; and for senior partners, $254,817.

According to a 2003 survey conducted by Abbot, Langer, and Associates, the median annual cash compensation for junior consultants was $48,248; for consultants, $58,817; for senior consultants, $80,000; for principal consultants, $98,000; and for senior or executive vice presidents (with an ownership interest in the firm), $144,200.

Besides earning a straight salary, many workers receive additional compensation, such as profit sharing, stock ownership, or performance-based bonuses. In some firms, bonuses can constitute one-third of annual pay.

Only about 2 percent of workers in management, scientific, and technical consulting services belong to unions or are covered by union contracts, compared with 15 percent of workers in all industries combined.
 


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Data Source: Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, 2004-05 Edition