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In 2017, the company’s revenue reached approximately 38.9 billion U.S. dollars – over a third of which came from consulting. The average salary for a Consultant is 元215,189 in Beijing, China. Daxue Consulting is a fully China-based agency with international consultants in our Shanghai and Beijing offices able to provide you with any support you need to expand your business in the Chinese market. McKinsey & Company follows as the next most popular destination amongst, representing the first appearance of the strategy consultancy giants MBB – McKinsey & Company, Boston Consulting Group (BCG) and Bain & Company. Short of 550 partners lead the PwC Mainland China practice, which forms an integral part of PwC’s operations in the surrounding regions, as well as in the Asia Pacific region as a whole. Alongside the other McKinsey practices in Greater China, McKinsey Hong Kong works with more than 1,500 clients in the region. What is known, though, is that rates can differ widely, from an hourly rate of R250 for an interim consultant working on an operational level to R1400 or more per month for a consultant from a leading strategy consulting firm. These four often feature among the most coveted workplaces globally. The firm began its China story in 1917 with an office in Shanghai, and has since grown into an operation of 23 offices. Trump paid his daughter Ivanka $747,622 for 'consulting,' then deducted it from his taxes, according to a New York Times investigation Consulting - Hourly Rate - Get a free salary comparison based on job title, skills, experience and education. The firm operates with one office in Hong Kong since it entered the market back in 1972. The firm applies a fixed multiple (e.g., 4.4) times the consultant’s hourly salary rate. Bain operates with two offices in the Chinese market – a flagship office in in Beijing and one other in Shanghai – alongside an office in Hong Kong. Consulting.com breaks business down to basic building blocks (like Lego) and tells you how to assemble them for success.. Get proven processes, gain laser-like focus, join a community of entrepreneurs and reprogram your brain for superhuman ability.. Get Started Free Deloitte, EY, KPMG and PwC are among the largest consulting firms in the world, with expansive operations and a stellar reputation. Our scope of consulting services include: Having been in China since 2009, our company is not only experienced but acutely aware of the challenges and areas in which international companies need assistance for such a unique market. The global luxury market was already moving to China before the Covid-19 pandemic, and is doing so even faster now. Created on the campus of Beijing Daxue in 2009, Daxue Consulting has strong roots on Chinese market but also an international vision and team. The highest rates in consulting are charged by the Global Strategy Consulting Firms, such as McKinsey & Company (with roughly 17,000 employees the largest firm), Boston Consulting Group, Bain & Company, Strategy&, Roland Berger and A.T. Kearney. As the leading consulting advisor to the private equity industry, its key stakeholders, and other investors we provide the expertise you need to achieve sustained returns from your sustainability strategy. At Daxue, we don’t speculate; we inform based on data-driven research. Our newsletter delivers information on the Chinese market as well as the innovative data-collection methods. Your hourly rates are each client’s first glimpse of your experience and value as a consultant--especially if you don’t have a large portfolio. Other CIT incentives are also available for tax resident enterprises in China. The firm recently opened one of its flagship global innovation hubs in Shenzen, with a specific focus on applied research & development (R&D). The consulting market of China. With an international team of experts in a variety of fields, we look forward to better helping your company thrive in China. For example, suppose a consultant has a salary of $150,000 per year. In the business domain, the most commonly found consultants are: strategy consultants, human resources consultants, Internet consultants, process consultants, public relations consultants, performance consultants, information technology consultants and marketing consultants. China Enterprise Consulting serves as the project manager to get your factory or office established in China—including initial budgetary planning, site selection, lease negotiation, fit-out of the facility, and the complete registration and licensing of your business in China—all done in-house by CEC. Finance, accounting, law and engineering are popular fields of study in Hong Kong, although students prefer consulting as a profession irrespective of their academic background. The total U.S. industry market size for Management Consulting: Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders.In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size. Zoom on China Consultants What is a China consultant? Based in Shanghai since 2006, INS Global has developed a strong network throughout the world. The monthly report will allow you to keep track of the most important upcoming events about China around the world, as well as not to miss useful articles and reports. Management consulting is the practice of helping organizations to improve their performance, primarily through the analysis of existing problems and development of plans of improvement. You should charge the same rate as any of the other professional work you do. China is the largest labor force market in the world. Yes, China’s economic engine is cooling down, yet it continues to rack up one of the fastest rates of economic growth in the world. The top five are followed by the remainder of the big three strategy consultancies. Operational Procurement. Tax levied by the Customs. The general VAT rate levied on the sale or import of goods and the provision of processing, repair and installation services is 17%. Shanghai, China Area: ¥16,141 / moFrost & Sullivan Consultant salaries - 2 salaries reported: Shanghai, China Area: ¥17,660 / moKorn Ferry Consultant salaries - 2 salaries reported: Shanghai, China Area: ¥46,804 / moIMS Consulting Group Consultant salaries - 2 salaries reported: Shanghai, China Area: ¥25,556 / mo They can offer detailed analysis and specific operational recommendations, as well as perform long-term follow-ups to aid the consistent and flexible development of your business. Most large consulting agencies follow a similar model, either the 3x rule or maintaining 40% gross margin. KPMG follows in the list, with its joint practice across China, Hong Kong and Macau accounting for 24 offices in 22 cities. Health Care Consulting - Hourly Rate - Get a free salary comparison based on job title, skills, experience and education. Accenture operates with two offices in Quarry Bay, Hong Kong, both of which act as key parts of Accenture China. The global management consulting market reached 275 billion U.S. dollars in 2018. This preference for consulting reflects ambitions among youngsters across the globe, as the profession offers a range of benefits and experience. The award of Certified Management Consultant (CMC) status is currently the only internationally recognized accreditation that is not specific to the technical content of the consultant’s practice. With more than 10 years of experience in China, more than 200 clients and China consultants from all over the world, we have all the necessary skills to become your China market business advisor. EY leads the way among graduates in Hong Kong, having established its presence there in 1968 as Arthur Young. 15 professional services firm commit to D&I Charter in Hong Kong. In Hong Kong, consultancy.asia assessed data from more than 10,000 students from eight universities across two years. To serve these functions, consulting firms hire the best and brightest from across the globe, and are led by highly experienced individuals with strong business acumen. McKinsey and PwC support latest batch of scale-ups in Singapore. The Big Four sit atop the list for graduates in Hong Kong as well, although they stretch across the top five, with McKinsey in the mix. The newspaper cited a 2011 case in which the IRS denied an Illinois accounting firm $3 million in consulting-fee deductions because it learned that the partners paid themselves the fees … His goal was to have a clear insight into the Chinese market and to understand the drivers of growth, including demographic factors, regulation, financing and market trends. The tax treaty with the former Socialist Federal Republic of Yugoslavia is now applicable to Bosnia and Herzegovina. Accurate, reliable salary and compensation comparisons for … Two years on from the launch of the Racial Diversity & Inclusion Charter for Employers in Hong Kong, the document has nearly 50 signatories, 15 of which are professional services firms. If your doubled or tripled hourly rate is in the range you found during your research, then it is likely you can move forward and decide whether you want to offer project or retainer rates. Withholding income tax on payments to non-residents - a concessionary rate of 10% is currently applicable to interest, rental, royalty and other passive income. Because your fee is an expression of value, low consulting rates don’t necessarily lead to work, or respect. However, we expect urbanization to occur differently than in the past, with the Chinese government spurring urbanization away from megacity centers toward newly established economic clusters, such as Xiong’an New Area and the Yangtze River Delta city cluster. Daxue completed around 20 to 35 in-depth interviews with importers, market, and industry experts, executives from agencies and funding institutions. We are an international firm with two major offices, both in Beijing & Shanghai, with 25 project managers and state-of-the-art testing facilities. Consultancy.asia’s analysis covered graduates from all these fields across two years, hailing from some of the country’s top universities, including Tsinghua University, Peking University, the University of Science and Technology of China, Zhejian University and Fudan University, among others. Professionals who start their career at a top consulting firm tend to make their way to leadership positions in various industries. The global business environment is aware of the quality work environments within top consulting firms, which generates widespread respect for the talent of any individual who has worked within these organisations. Strategy Boutiques, high-end firms that have a national/regional focus, follow in terms of rates. Strategy& is PwC’s dedicated strategy consultancy that supplements its suite of services in the country, formed after PwC acquired Booz & Company. Share with your ... By way of context, in early March 2019, the Chinese government announced a reduction in its headline VAT rate from 16% to ... cultural and creative services, logistics services, logistics and ancillary services, certification and consulting … In 2011 Michael joined the team of 1421 Consulting Group, as Business Development Manager Europe. McKinsey China has been operational for more than three decades, with a team of more than 1,000 professionals, 700 of whom are partners. Over the years, Deloitte has served more than 300 companies that are listed on the Hong Kong stock exchange. China stands firmly on its feet and ramps up the potential, so software engineer’s hourly rate there makes $50-100. Business plans: $400; Market research plans: $300; Financial projections: $55 per projection; Executive summary: $65 per summary; Ongoing consulting services: $2,500–$3,500 per month, depending on the scope of work. EY emerged atop the list in China. They won’t be shrinking, of course; rather, middle-class growth rates will be far greater in the smaller cities of the north and west. All four of Bain’s Grater China partners sit in the Hong Kong office, making it a key component of the firm’s China wide practice. Created on the campus of Beijing Daxue in 2009, Daxue Consulting has strong roots … Sustainability presents a range of opportunities and risks for investors. These firms support their clients with developing growth strategies, implementing them, solving business problems, and generally remaining competitive in a constantly evolving business environment. Enterprise Singapore has welcomed the second cohort of companies to its Scale-up SG accelerator, with consultancies PwC and McKinsey serving as programme anchor partners. Market Size & Industry Statistics. Keep in mind that the fees you'll pay can vary depending on where you live , the specific services you need and whether you need one-time or ongoing consulting. Top of the consulting list for these graduates are the Big Four. The monthly report will allow you to keep track of the most important upcoming events about China around the world, as well as not to miss useful articles and reports. 2019 Reduction of VAT rates & Adjustment to VAT refund rates. Deloitte rounds off the top four among Chinese graduates. Stamp tax - a tax levied on enterprises or individuals who execute or receive "specified documentation" in China and the tax rates vary between 0.005% to 0.1%. How much does a Consultant make in Beijing, China? Six Asian cities in the globeâs top 30 cities worldwide. The Hong Kong office is located amongst multinational corporations near the Victoria Harbor. Daxue Consulting is a new kind of consulting firm, especially efficient in terms of data collection and cost. The reporters matched up the tax records with Ivanka Trump’s financial disclosures, filed when she became a White House senior adviser. Consultancy.asia is the online platform for Asia's consulting industry. You’ll learn how consultants set their rate, how much consultants are earning per project, how many consultants … For instance, this could be held equally by a Human Resources (HR) expert or a Chemical Engineer operating as management consultants in their field(s) of expertise. A China consultant is a professional who provides Chinese Market Advisory in a particular area such as security (electronic or physical), project management in China, accountancy, law (tax law in particular), human resources, marketing (and public relations), finance, engineering, or any of many other specialized fields in the … In the southeastern area of China, unskilled direct labor may cost 400RMB a month($50USD) per person. A lower rate of 13% applies to goods such as books, newspapers, magazines, cereals, edible vegetable oils, tap water, heaters, coal products for residential use and other goods as prescribed by the State Council. Q: What is the VAT rate in China? The firm is also licensed to serve Hong Kong listed companies, which gives it a wide scope of operations. Tax on transactions (turnover tax) The Hong Kong practice consists of two offices, and acts as a key part of KPMG’s China practice, which stretches across 24 offices and employs over 12,000 partners. The firm has been operational in the Chinese market for more than 25 years, with a team of four partners in the country serving a variety of public and private sector clients. China’s VAT system is amongst the broadest based systems amongst over 160 countries in the world which have now The lowest rate (i.e. The consulting life appeals to graduates across China and Hong Kong, with many registering their preference to work at one of the top global consultancies. Consulting. ADB procures goods, works, and services from external suppliers for its development projects and programs, and engages consultants to … Our China market business advisory company serves as a bridge for those wishing to break into the China market, providing research, analysis, and support for every step of the process – from preparation to entry, and finally, continued expansion within China. Deloitte is next on the list of top consulting firms for Hong Kong graduates. Brian Conners, president of the Association of Professional Consultants (APC), says charging an hourly or daily rate is easier for first-time consultants. In Shanghai, that same position may be 800 - 1000RMB a month($150USD) per person. 2020-2021 US Strategy Consulting Rates Monadnock Research Report: Vol XIII, No 5 - August 31, 2020 The current edition of the report provides Monadnock Research estimates for 2020-2021 Strategy Consulting rates in the USA from our firm's continuous cross-industry consulting rate analysis of current negotiated master service agreements between clients and strategic firms. Then comes global professional services firm Grant Thornton. Michael got acquainted with China when his sister was adopted in 1996. All rights reserved. As a result, the firm has two offices in Hong Kong, where a team of 17 partners works with more than 300 professionals. Today, PwC Hong Kong operates out of four offices. The Big Four all make the top of the list for graduates, alongside other big management consultancies such as Accenture, McKinsey & Company, The Boston Consulting Group (BCG) and Bain & Company, among others. Around 8 million graduates emerge from China each year. Accurate, reliable salary and compensation comparisons for China The golden middle between Chinese ambitiousness and Indian cheapness can be found in … Regarding the question of setting consulting fees on a simple daily rate basis, I would recommend as follows: Step 1: Estimate what YOU would expect to be able to get per annum in perm employment, including cash benefits such as bonus, car allowance etc., but excluding things like pension, private medical insurance etc. The firm’s Hong Kong office opened in 1990, and is part of the firm’s wider Greater China System, which extends across four offices and 700 professionals. Any young professional starting out at one of these firms not only gains exposure to the latest in growth and innovation for a variety of sectors, but also gets to develop under the wing of top business leaders. The firm’s China practice began in 1981, and now operates across 25 offices in the country with more than 260 partners and a team of over 5,300 people. Starting from April 1, 2019, general VAT taxpayers who were previously subject to VAT at 16% for taxable sales or importation will now be subject to a reduced 13% VAT rate. Alliott Global Alliance expands presence into four Asian markets, Alliott Global Alliance, an international alliance of professional services firms specialised in law and accounting, has in recent months bolstered its footprint in the Asia Pacific region with the a, Barry Chung and Jonathan Chau join CBRE in Hong Kong. More than 10,000 professionals work at Deloitte China, including the firm’s Hong Kong and Macau practices. PwC is next in terms of popularity among graduates. [Project management in China – Daxue Consulting]. The consulting firms picked out by graduates in China and Hong Kong are among the most illustrious consultancies in the world, with a clientele that consists of the best and biggest businesses in every industry. 5%) applies if the beneficial owner is an institution owned or controlled by the other contracting state. McKinsey operates out of five locations in Mainland China and one in Hong Kong. Microsoft Consulting Services digital advisors, engineers, consultants, and support professionals help you implement and adopt Microsoft products, services, software, and devices to solve, envision, and understand new possibilities for your business. No matter how complex your business questions, we have the capabilities and experience to deliver the answers you need to move forward. Low rates may have them questioning your expertise. 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