Determined to Maximize What You Can Earn By the Sweat of Your Brow? Forget Management Consulting, Go Directly to Big Law

  Bloomberg documents that those in the major management consulting firms might only be pulling down a million or so, with the topper at about $6 million:

" ... a select group of senior partners at consulting firms such as McKinsey can take home $6 million a year, some of the people estimated. At the lower end of the range, compensation is about $1 million to $1.5 million, a person with knowledge of the situation said."

In contrast, in large law firms the Profits Per Equity Partner can be over $6 million - that's an average figure of the funds that will be distributed among equity partners. 

In Big Law 2022 was a down year but still the PPEE was better than what most management consultants even in the MBB loop (McKinsey, Boston Consulting Group, Bain) were earning. Here's how the law firms did last year:

  1. Kirkland: $7.51M
  2. Wachtell: $7.29M
  3. Sullivan & Cromwell: $5.98M
  4. Paul Weiss: $5.72M
  5. Davis Polk: $5.55M

But the stars in large law firms can earn annually about $20 million. At Kirkland & Ellis, the rumors are, that nosebleed compensation is not unusual. 

Obviously, those focused on maximizing what they will earn by the sweat of their brow should head to a career in Big Law.  Bypass the supposed nerdy glam of management consulting.

In addition, as Bloomberg points out the management consulting industry is bumping up (finally) to being questioned about what exactly do those nerdy consultants do. Already more and more businesses are deciding whatever it is it's not enough to justify the high fees. So, they are doing the analysis in-house with their own internal resources. 

Also generative AI could become the standard analytic tool business, nonprofits and government use on-their-own to diagnose/solve problems, bypassing what used to be known as the "management consulting industry."  

What Bloomberg doesn't bring up is that McKinsey has become quite the joke. John Oliver does the best at making everything about it look ridiculous. Here is his YouTube spoof. As we know: Once they make that kind of fun of you you are cringe. Humor is a cruel and usual fatal weapon. 

In contrast, as long as humans are human there will be conflict, therefore the need for lawyers. Of course, generative AI can do a lot of the low-value processes. But the strategists billing at $2000+ an hour are hard-wired in. 

Data or the gut for your careers and communications? Both of course. Complimentary consultation with intuitive coach, content-creator, and Tarot reader Jane Genova (text 203-468-8579, janegenova374@gmail.com).


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