Business consultants can earn a living as consultants for the first time in 2018, according to a new survey.
The research by Deloitte and Mercer found that in 2018 the average consultant earned $73,500, up 1.5 per cent from the previous year.
This was the second consecutive year consulting fees increased by 1 per cent or more.
The biggest increase was seen for consultants in the public sector, where the average salary rose 2.7 per cent to $77,000.
The average consulting fee in the private sector rose 5 per cent, but consulting fees declined by 2.4 per cent in the last 12 months.
The survey also found that consultants were becoming more confident about the role they can play in their industries.
Almost a quarter (23 per cent) of consultants said they felt confident about their ability to contribute to their sector, up from 19 per cent last year.
The share of consultants who said they had an overall positive attitude towards the role was higher (20 per cent).
“There is a real opportunity to grow the sector with greater confidence,” said Deloittie chief executive Andrew McInnes.
“It is not the same as in the past.
We see the public services sector becoming more competitive, and we see the private and the government sectors becoming more fragmented.”
The report also found many consultants were concerned about their pay.
“A large part of the problem is that the market is still in a very fragile period,” said McInesons.
“I do think there is a risk that a lot of people who have done a lot in their careers will not be able in the future.” “
Mr McInnsons said the government had already begun to address this issue. “
I do think there is a risk that a lot of people who have done a lot in their careers will not be able in the future.”
Mr McInnsons said the government had already begun to address this issue.
“There are some changes in terms of the way consultants are paid,” he said.
“The new salary cap is in place.
We have introduced a new incentive to incentivise good work and to be a good consultant.”
It’s a big change.
“Some people are looking at the [public sector] incentive and saying, ‘You can get away with that in the next couple of years, it’s really hard work’.”