2021 hasn’t seen much movement in salaries for Management Consultants in the region in so far. However, we have seen a continuing upward pressure on salaries with hard to find skill sets. This appears to be due to firms needing these skills sets making every possible effort to entice talent away from competitors. This upward increase has been magnified even more so during this unstable 2020, where there is often additional reluctance to consider changing organisation.
Therefore, overall the salaries have increased by 1.4% in general but we have documented 21% increases in those hard to find skills.
Overall, the market is extremely buoyant but weighted towards experienced hires with great networks.
Salaries have risen during H1 but only in new hires. Existing staff haven’t reported any movement that has been worth commenting on.
We observed this pattern after 2008 where several large firms didn’t react quickly enough and lost out. Unlike 2008, 2020/2021 has seen the majority of firms keep pushing themselves forward and so hiring has been strong. However, if they don’t consider their current staff, they might find themselves at risk of losing people to attract offers from their competitors.
Like other regions, 2020 hasn’t seen much movement in salaries for Management Consultants in general. However, there has been upward pressure on salaries at the senior levels. This is coming from firms looking to secure senior talent in unstable times and needing to use money is the tool of choice.
Therefore, overall the salaries have increased by 1.7% in general but we have documented 24% increases in those hard to find skills.
Therefore, overall the salaries have increased by 1.4% in general but we have documented 21% increases in those hard to find skills.
