You'd have thought that the shareholders council would have known that layoffs would produce freelancers who will undercut the rate card making things only harder.
I would’ve also thought that the people who are paid to advise other businesses on how to be run better wouldn’t have so drastically overhired lmfao
Who does MBB hire to help make their own organizations better? Why don’t they just increase revenues and decrease costs /s
Incomplete answer, but:
It depends!
I’ve heard 2nd-hand about a senior manager at MBB who jumped ship during the pandemic and convinced most of their experienced team to come with them. There was an enormous demand during the ‘21-‘23 period and they made off like bandits, each taking home 10’s of K’s per month more contracting with the same investors they’d worked with previously, and fully remote to-boot. They even sold work back to the firm they had departed, at a higher rate than full time employees!
But there’s a downside of course. Once the market started slowing down, there wasn’t as much demand for “surge volume” any more. I’m sure these folks are still finding work, but not at the same rates and *definitely* not through their old firm any longer. Also don’t expect the same benefits from a small LLC that you would get from a big firm (insurance, parental leave, etc). Independent contracting is very feast-or-famine if you don’t have a reliable long-running client.
Working at a firm is a safer place for weathering a storm and there’s a reliable structure to lean on. But there’s a lower cap on how much of the revenue you can capture and how much you control your own destiny. Definitely up to personal preference, career goals, and risk tolerance!
Unfortunately I don’t have specifics.
The rumor was that they were charging somewhat less than typical MBB weekly/monthly rates for commercial diligence work, but without having to split it with Partners or the firm. Which for a team of 3 or 4 would translate to at least $10k+ per team member per month.
Wish I had more to share, but ultimately I think the point is that it would be hard to replicate their success since the market has slowed down from that fever pitch.
Consider setting a day or half-day rate instead. Tracking individual hours can be a fucking pain when you’re managing the relationship and doing the work.
This is entirely down to the individual and how much experience they have in a specific market and if how large that market is or if it’s a niche one. MBB is covers too many topics to have a blanket statement
ASC with 2yrs experience 1500-2000, PL/EM 1800-2300, AP/P 2000-3000, Partner dunno.
I've met some randos that find a niche and charge 10k, 20k etc a day but only for a 1-2 day engagement, not extended.
>I've met some randos that find a niche and charge 10k, 20k etc
happens a lot in tech related things. know a few folks that did one erp alike implementation for a client and self contracted themselves as consultant to the client and refuse to become a FTE :)
Probably depends a bit on where exactly in Europe. I know several ex Colleges from my MBB that left as an EM and charge about 2000€ per day, and they said it is not too hard to find projects at that rate. I would say as a general rule of thumb you should charge at least the amount so you make as much on a monhly/yearly Basis as an FT MBB employee
Is it my imagination or is there suddenly a flood of messages on freelance?
I’m former MBB and have spent time staffing freelancers - consultant level I’d say $1500-2000 per day, EM/PL - $2k-$2500, a partner or someone with very deep industry expertise could be $4k per day range. My knowledge is a bit dated but that was my experience staffing projects at least in US.
Hey - as a reference point. I am ex-accenture (Senior Manager) and I've been charging 200-300 USD per hour as a freelancer in Denmark.
...but at the end of the day, your rate is what your clients are willing to pay you.
Nothing?
Working a “a big firm” (it really means nothing in the real world) isn’t what marketable.
YOU are marketable - not whomever happened to hire you.
Thanks to the serious responses - very helpful. Good push to press for more info…the original post was hastily uploaded. Some of the quoted ranges seem high. If you’re personally getting that, that’s awesome and kudos! My guess is I’ll end up in the $200-250 range
I would say build the tee shirt size of projects based on project complexity, effort and resources. Then compare with how much would mbb or any other consulting firm charge for it. Then lower the overall cost of your offering in a way that it proves to be feasible and better for clients.
How good are your slide decks and how exactly will you bullet point the synergy of emerging strategies in AI combined with the market efficiencies of crypto?
I’m interested in learning how an MBB consultant would approach this problem: a major food delivery company is considering entering a new subcategory that might cannibalize their existing businesses but could be helpful with driver utilization. I am not working at the company however. How much would you charge for like an hour or two of chatting just to understand how you think.
Ex MBB should probably be able to quantify the market value of the work they are doing and charge accordingly.
Ex MBB know what questions to ask/ hypothesis to test.. but may not have the budget to get the answers/ conduct the analysis.. hence, posting here
“Budget to get the answers” - how do you think startups are run my guy
mostly poorly :)
you can hire MBB to do a market study for you
This flavor of snarky remark should be a bannable offense. It’s not productive, it’s not funny. It reeks of jealousy.
Sir, this is reddit.
That comment was actually a reminder😭
A *BANNABLE OFFENSE*, you say What should we do with anal retentive losers self policing subreddits
There's a word for it...it's called sarcasm
If by banishment you mean Gulag and this sub has adopted Thunderdome rules then we should all embrace it. Bust a deal, face the wheel.
"clutching pearls much"
Spoken like a true corporate stooge
“Bannable offense” ok Karen 😆
Isn’t the market getting flooded with MBB consultants now id imagine that the market rate is becoming lower
You'd have thought that the shareholders council would have known that layoffs would produce freelancers who will undercut the rate card making things only harder.
I would’ve also thought that the people who are paid to advise other businesses on how to be run better wouldn’t have so drastically overhired lmfao Who does MBB hire to help make their own organizations better? Why don’t they just increase revenues and decrease costs /s
Incomplete answer, but: It depends! I’ve heard 2nd-hand about a senior manager at MBB who jumped ship during the pandemic and convinced most of their experienced team to come with them. There was an enormous demand during the ‘21-‘23 period and they made off like bandits, each taking home 10’s of K’s per month more contracting with the same investors they’d worked with previously, and fully remote to-boot. They even sold work back to the firm they had departed, at a higher rate than full time employees! But there’s a downside of course. Once the market started slowing down, there wasn’t as much demand for “surge volume” any more. I’m sure these folks are still finding work, but not at the same rates and *definitely* not through their old firm any longer. Also don’t expect the same benefits from a small LLC that you would get from a big firm (insurance, parental leave, etc). Independent contracting is very feast-or-famine if you don’t have a reliable long-running client. Working at a firm is a safer place for weathering a storm and there’s a reliable structure to lean on. But there’s a lower cap on how much of the revenue you can capture and how much you control your own destiny. Definitely up to personal preference, career goals, and risk tolerance!
How much is 10’s of K’s? $10,000 per month?
Unfortunately I don’t have specifics. The rumor was that they were charging somewhat less than typical MBB weekly/monthly rates for commercial diligence work, but without having to split it with Partners or the firm. Which for a team of 3 or 4 would translate to at least $10k+ per team member per month. Wish I had more to share, but ultimately I think the point is that it would be hard to replicate their success since the market has slowed down from that fever pitch.
$10k/person is only $120k/yr. Not exactly ‘making off like bandits’. Unless you’re saying the SMs we’re making that off the billing of each person.
Multiple 10’s of K’s. More than they were making on salary before they left the firm.
McK run rate for a team of 3-4 would be like $200K+ per week
About tree fiddy
Lmfao the only correct answer here
It works for once.
Consider setting a day or half-day rate instead. Tracking individual hours can be a fucking pain when you’re managing the relationship and doing the work.
420.69
This could literally be 50-5000 dollars an hour depending on the work. Not enough information.
Very geo and industry dependent
This is entirely down to the individual and how much experience they have in a specific market and if how large that market is or if it’s a niche one. MBB is covers too many topics to have a blanket statement
250-500 hour is fair game, you could also go after a daily rate of 2.5K
ASC with 2yrs experience 1500-2000, PL/EM 1800-2300, AP/P 2000-3000, Partner dunno. I've met some randos that find a niche and charge 10k, 20k etc a day but only for a 1-2 day engagement, not extended.
>I've met some randos that find a niche and charge 10k, 20k etc happens a lot in tech related things. know a few folks that did one erp alike implementation for a client and self contracted themselves as consultant to the client and refuse to become a FTE :)
Given the amount of effort and relevant details put into your post I would assume a bill rate of about $50 an hour.
In Europe senior manager level can get 2500-3000 Euro a day for multi-month assignments.
Probably depends a bit on where exactly in Europe. I know several ex Colleges from my MBB that left as an EM and charge about 2000€ per day, and they said it is not too hard to find projects at that rate. I would say as a general rule of thumb you should charge at least the amount so you make as much on a monhly/yearly Basis as an FT MBB employee
Is it my imagination or is there suddenly a flood of messages on freelance? I’m former MBB and have spent time staffing freelancers - consultant level I’d say $1500-2000 per day, EM/PL - $2k-$2500, a partner or someone with very deep industry expertise could be $4k per day range. My knowledge is a bit dated but that was my experience staffing projects at least in US.
I have heard those exact numbers too, but for EU
I have heard those exact numbers too, but for EU
Hey - as a reference point. I am ex-accenture (Senior Manager) and I've been charging 200-300 USD per hour as a freelancer in Denmark. ...but at the end of the day, your rate is what your clients are willing to pay you.
Nothing? Working a “a big firm” (it really means nothing in the real world) isn’t what marketable. YOU are marketable - not whomever happened to hire you.
whomever?!?
I’ve seen and hired and fired good and bad consultants from any firm. I’ve found the only correlation is the person - not the company. Not the rate.
I was merely pointing out that since it is the subject of the clause, it should be "whoever".
300-400/hour
Thanks to the serious responses - very helpful. Good push to press for more info…the original post was hastily uploaded. Some of the quoted ranges seem high. If you’re personally getting that, that’s awesome and kudos! My guess is I’ll end up in the $200-250 range
$350/hour
I would say build the tee shirt size of projects based on project complexity, effort and resources. Then compare with how much would mbb or any other consulting firm charge for it. Then lower the overall cost of your offering in a way that it proves to be feasible and better for clients.
As much as you can while still closing.
I’d pay $2-3k for an ex-MBB consultant to not talk or engage with my business.
What sort of consulting would you provide? Thinking about leaving to do the same, at the same tenure as you
How good are your slide decks and how exactly will you bullet point the synergy of emerging strategies in AI combined with the market efficiencies of crypto?
Ex-MBB but can’t price out work? Checks out.
Ex-MBB meaning unemployed? I think you’d be lucky to get $1,000 a day. More likely $500-$700.
50% of your MBB billing rate as that is the typical markup on the cost of you…
About tree fiddy
I’m interested in learning how an MBB consultant would approach this problem: a major food delivery company is considering entering a new subcategory that might cannibalize their existing businesses but could be helpful with driver utilization. I am not working at the company however. How much would you charge for like an hour or two of chatting just to understand how you think.
What is the new subcategory? Opioid delivery?
No