Movemeon’s next work & pay report, Understanding the impact of COVID-19, will be out soon. Not only will it provide comprehensive answers to the questions investigated by our previous reports (What happens to pay as a consultant moves to industry? How does pay vary by consulting background? How much do candidates expect to earn at different levels? How much is the average freelance day rate at different levels?), it will also address the trends brought on by the pandemic in terms of pay, flexible working, job satisfaction & more…
In case you missed our last report, here are some of its most striking findings:
Across the board, but especially in startups, the importance of basic salary decreased as seniority increased. At Director level, it made up just 61% of compensation, compared to 75% at Associate level. The apparent drop in basic salary was explained by the increase in equity – 30% of Director-level pay.
Gender pay gap
Women in corporates received 45% lower bonuses than men.
Across all industries, women’s Manager-level pay rises were 25% lower than men’s. 45% of women didn’t receive a pay rise at all.
Freelancers were used by employers 62% more v in the previous 5 years – in turn, freelance / interim consultants were willing to reduce their usual day rates by up to 30% for the right reasons. Longer projects were the most likely to have reduced fees.
As in previous years as well, there was no clear correlation between levels of happiness and total compensation. Job satisfaction / happiness at work was much more closely related to pay per hour.
At Movemeon, we connect (ex) consultants and freelancers with job opportunities, advice & events. Register now to view and apply to jobs, for insider advice & networking/industry events.
- Movemeon.com - The world’s leading community of consultants, alumni and commercial professionals. Founded by two ex-McKinsey Consultants, Nick Patterson & Rich Rosser.
- Consulting2021.10.18The War for Talent: Do you need capability, extra capacity, or both? – 2021 Consulting Trends
- Career Advice2021.10.12Movemeon’s Market Trends Insights Series
- Consulting2021.10.062021 Consulting Trends – A Movemeon’s Insights Series
- Career Advice2021.09.24Lessons in Leadership – The Drilldown by Movemeon