According to this ranking, Chinese consulting is not the most developed in the world, but some small companies are developing quickly. 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 Sustainability presents a range of opportunities and risks for investors. We cover the 3 most important pricing factors to consider, the 4 most effective pricing methods, and the average fees and rates used across the most popular consulting industries. The firm has been operational in Hong Kong since the 1940s, and merged its Hong Kong and China practices in 2002. The global management consulting market reached 275 billion U.S. dollars in 2018. . For example, suppose a consultant has a salary of $150,000 per year. 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. Around 8 million graduates emerge from China each year. India's Richest ... offers a simple formula for calculating your daily rate. While the weekly newsletter will talk about the daily business cases of China, important local events and news. The lower rates apply in cases where the dividend, interest, or royalty paid from Ecuador to China is applicable to the Foreign Exchange Control Tax in Ecuador. 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. Health Care Consulting - Hourly Rate - Get a free salary comparison based on job title, skills, experience and education. EY emerged atop the list in China. 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. Professionals who start their career at a top consulting firm tend to make their way to leadership positions in various industries. 0%) applies in Gabon if the dividend is derived by the China-Africa Development Fund from Gabon. 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 … Q: What is the VAT rate in China? 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. The consulting industry may experience various operational and technological trends in the year 2020. A Consulting Firm centered on China. Try our corporate solution for free! With a deeper understanding of China’s growing market, we help you make the best decision for your business whether you’re a new entry or have an established presence. Our customer wanted to sell his products from Italy to China. China is the largest labor force market in the world. 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. 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. Mainland China climbed to fourth place and overtook Hong Kong in the latest ranking of expatriate pay packages in the Asia-Pacific region, a survey by consulting firm ECA ... Best CD Rates. Historically, China had a Business Tax (BT) system for services, and a VAT for goods. For all the services listed above, daxue consulting has developed the resources and research network to provide them throughout China + Hong Kong and Taiwan. Clarification Announcement on China’s VAT Reform. In the U.S., small business consulting fees range from $95 to $1,500, with an average cost of $399. The consulting market of China. Accurate, reliable salary and compensation comparisons for China Top of the consulting list for these graduates are the Big Four. Daxue Consulting is a new kind of consulting firm, especially efficient in terms of data collection and cost. 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. 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. As a result, there is relatively little information available publicly on the fees and rates charged by consultants. Most large consulting agencies follow a similar model, either the 3x rule or maintaining 40% gross margin. Despite tall claims by the Chinese government, a cloud of suspicion has always loomed large over cyber hacks and IP … Strategy Boutiques, high-end firms that have a national/regional focus, follow in terms of rates. Here are a few different ways. The latest news, consulting firms, jobs & internships, events and updates for consultants in the Asia. KPMG rounds off the Big Four and the top five. 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. Project rates. For small entrepreneurs, the VAT rate applicable is 3% with limits on VAT deductions. The top five are followed by the remainder of the big three strategy consultancies. 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 consulting life appeals to graduates across China and Hong Kong, with many registering their preference to work at one of the top global consultancies. PwC is next in terms of popularity among graduates. Some of these consulting services are offered through Parthenon-EY – the firm’s dedicated strategy consultancy that was formed after the acquisition of The Parthenon Group by EY. Don’t be too modest about this. China’s urbanization rate will continue to increase over the next decade, from 57% in 2016 to around 70% in 2027. For individuals and small boutique consulting firms, I strongly recommend the 3x rule. The firm has been active in the country for more than 50 years, stretching across 29 office locations during this time. McKinsey operates out of one office in Hong Kong, which constitutes a central part of its Greater China operation. At Daxue, we don’t speculate; we inform based on data-driven research. Michael got acquainted with China when his sister was adopted in 1996. Capgemini Invent operates with two offices in China. Daxue Consulting is a market research company providing tailored strategic advisory, fieldwork solutions & full-length reports on your market of interest. Ben Hsiao has joined management consulting firm Alvarez & Marsal as a Senior Director based in Shanghai. The interviews helped us form the basis of our analysis and thus assist us to build our secondary research, which helped this client in making crucial investment decisions. Our team of consultants is dedicated to healthcare and can count on the domain expertise of +1,100 medical doctors and +1,400 PhDs. Individual income tax ("IIT") - progressive rates range from 3% to 45%. 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. The firm is the last of the top consulting firms for young professionals in Hong Kong. Around 8 million graduates emerge from China each year. This is my floor billing rate, the rate I must not bill under, or else I risk losing money and/or harming my ability to grow the business. The global luxury market was already moving to China before the Covid-19 pandemic, and is doing so even faster now. The firm recently opened one of its flagship global innovation hubs in Shenzen, with a specific focus on applied research & development (R&D). Salary per consulting firm With an established presence in more than a dozen countries and more to come, we have the reach as well as the experience necessary to support your plans for growth and development. McKinsey operates out of five locations in Mainland China and one in Hong Kong. Learn everything you need in order to choose the right consulting fees and rates for your business. Injury Insurance If an employee gets injured while at work, the employer must first provide evidence of the accident to the insurance company, so the injured employee may have the treatment cost covered by the social insurance. 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. There is no such thing as a single qualification to be a consultant other than those laid down in relation to medical personnel who have attained this level. 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%. 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. Although based in Shanghai, Beijing and Hong Kong, we are used to travel in China for our clients and know very well the specificities of each area of the country. To provide you with our consultant’s expertise and effective China market business advisory, it’s the first necessary to gather all the information which will allow us to give you a reliable and efficient recommendation. China Tax Alert - Issue 12, March 2019 close. Widespread changes are occurring in the management consulting industry. There are other taxes, including Business Tax (3% to 20%) on services. Tax levied by the Customs. PwC follows, with its Hong Kong practice of nearly 260 partners and more than 4,300 professionals. The most popular majors include finance, engineering, international trade, economics, accounting, clinical medicine, law, and English. Customs duties - duties are imposed on goods imported into China and are generally assessed on the CIF (cost, insurance and freight) value. The Hong Kong office is located amongst multinational corporations near the Victoria Harbor. China stands firmly on its feet and ramps up the potential, so software engineer’s hourly rate there makes $50-100. 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. The average salary for a Consultant is 元215,189 in Beijing, China. The most popular majors include finance, engineering, international trade, economics, accounting, clinical medicine, law, and English. The hourly cost of consulting fees range from about $45 to $150 per hour. Global real estate consultancy CBRE has added two seniors to its team in Hong Kong: Jonathan Chau and Barry Chung. 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. 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 These firms support their clients with developing growth strategies, implementing them, solving business problems, and generally remaining competitive in a constantly evolving business environment. CONTACT US NOW TO KNOW MORE ABOUT OUR METHODOLOGIES. Zoom on China Consultants What is a China consultant? daxue consulting is owned by Ever Access trading Limited, Ever access trading owns 博圣轩投资顾问有限公司上海分公司. Graduates hail from some of the region’s top universities, including the University of Hong Kong, the Hong Kong University of Science and Technology, and the Chinese University of Hong Kong, among others. Daxue is not only involved in project management in China, but we are dedicated, passionate and experienced enough to accompany every business throughout his journey in the Chinese market. Consulting. According to recent ranking of China’s management consulting, foreign consulting companies such as Mckinsey, Accenture, Roland Berger are the top 3. Our consulting service aims to give you both a clearer understanding of any particular aspect of your business, as well as a comprehensive overview of your target market. Accenture operates with two offices in Quarry Bay, Hong Kong, both of which act as key parts of Accenture China. The firm began its China story in 1917 with an office in Shanghai, and has since grown into an operation of 23 offices. 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 Chinese market. You’ll learn how consultants set their rate, how much consultants are earning per project, how many consultants … This statistic shows the global management consulting market size 2011-2020, by segment. 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 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. 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. ACNielsen from Dutch, Ipsos from France are following as the 4th and 5th ones. Six Asian cities in the globeâs top 30 cities worldwide. Labor rates will vary significantly from region to region and even within a given region. How much does a Consultant make in Beijing, China? Low rates may have them questioning your expertise. McKinsey China has been operational for more than three decades, with a team of more than 1,000 professionals, 700 of whom are partners. The firm applies a fixed multiple (e.g., 4.4) times the consultant’s hourly salary rate. We also post daily on Western and Chinese social media up-to-date articles on various markets in China and we have been regularly quoted in many media such as The Financial Times, The Wall-Street Journal, South China Morning Post or China Daily. China's luxury market set for strong rebound this year. The firm now has two offices in Hong Kong, which make up a part of the EY Greater China practice. Below we’ll review what influences consultancy fees, how to determine yours and how to take payments once you’ve started working with clients. McKinsey & Company is in second place for Hong Kong graduates, ahead of all the other Big Four firms. Brian Conners, president of the Association of Professional Consultants (APC), says charging an hourly or daily rate is easier for first-time consultants. Daxue Consulting is a China-based market research and strategy agency. Bain & Company emerges next on the list to round of the MBB. All rights reserved. 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. With pressures on employees mounting amid a disruptive, dynamic, and competitive environment, it is critical to give focus on the physical and mental wellbeing of employees. Withholding income tax on payments to non-residents - a concessionary rate of 10% is currently applicable to interest, rental, royalty and other passive income. Following the 2012-16 VAT reforms, there are only four VAT rates in China, plus nil rating. Deloitte calls for tax credits to encourage skills development. A new report from EY sheds light on the state of the workforce in the oil & gas sector. 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. McKinsey and PwC support latest batch of scale-ups in Singapore. In 2011 Michael joined the team of 1421 Consulting Group, as Business Development Manager Europe. As always, Daxue Consulting will use a panel of market research methodologies to reduce uncertainty better and identify key opportunities and red flags for your investment in China: CONTACT US NOW TO FURTHER DISCUSS HOW TO ANSWER YOUR NEEDS IN CHINA. 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. 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. ADB procures goods, works, and services from external suppliers for its development projects and programs, and engages consultants to … Tax on transactions (turnover tax) 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. Within management consulting, Operations Consulting holds the largest market share of 28.4 percent and is growing at a rate of 3-4 percent, followed … When you start a consulting business, you need to be strategic about your fee structure.High consulting fees may rub potential clients the wrong way. The firm is also licensed to serve Hong Kong listed companies, which gives it a wide scope of operations. 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 recommendations can take different formats, among which are: The collective expertise of our pmo in China is built around the following Industry Practices: Our pmo in China had a demand from one of our Italian clients regarding its market entry in China, with a request for a better understanding of the F&B industry. 1. 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 … 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. In 2017, the company’s revenue reached approximately 38.9 billion U.S. dollars – over a third of which came from consulting. A career in consulting is up there among the best for these students. 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. The tax treaty with the former Socialist Federal Republic of Yugoslavia is now applicable to Bosnia and Herzegovina. 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. We are an international firm with two major offices, both in Beijing & Shanghai, with 25 project managers and state-of-the-art testing facilities. 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. Our newsletter delivers information on the Chinese market as well as the innovative data-collection methods. The firm supports a large set of public and private sector clients, and is a key centre for BCG’s wider Asia Pacific operations. 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 … 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. Consultancy.asia is the online platform for Asia's consulting industry. As a result, the firm has two offices in Hong Kong, where a team of 17 partners works with more than 300 professionals. Today, EY’s team in the Greater China region consists of 20,000 professionals, offering a range of advisory services. We especially auction traditional methodologies as well as technology-driven tools. 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. The standard rate of VAT is 13%. Daxue Consulting is a China-based market research and strategy agency. News and market size of the consultancy industry in China, trends, statistics and consulting firms in China. Consulting rate tip #2: Your rate is a big part of how your clients perceives you. 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. Our project managers all have strong experience consulting in China. These four often feature among the most coveted workplaces globally. Consulting - Hourly Rate - Get a free salary comparison based on job title, skills, experience and education. If you charge $100/hour for your consulting and a call is 2 hours … China’s VAT system is amongst the broadest based systems amongst over 160 countries in the world which have now Consultancy.asia examined data from nearly 120,000 students at nearly 120 universities across China and Hong Kong, to paint a picture of career goals among the youth. These include Beijing Guangzhou, Nanjing and Shanghai. The reporters matched up the tax records with Ivanka Trump’s financial disclosures, filed when she became a White House senior adviser. They found that more than $700,000 in payments she disclosed pertaining to a consulting company were the same amount as the tax deductions for “consulting fees” on a pair of hotel projects listed on the Trump Organization’s tax records. Deloitte is next on the list of top consulting firms for Hong Kong graduates. This preference for consulting reflects ambitions among youngsters across the globe, as the profession offers a range of benefits and experience. Female labor force participation rate South Korea 2010-2019; After China became a member of the World Trade Organization, Chinese architectural, engineering, and project management consulting firms faced … If you feel like something is holding you back from racing your consulting rates and earning the revenue you want in your business, this study is for you. You should charge the same rate as any of the other professional work you do. The Internet of Things (IoT) is ushering in a new era of predictive maintenance, self-optimizing production and a host of other benefits. Salaries estimates are based on 29. salaries submitted anonymously to Glassdoor by Consultant employees in Beijing, China. In India, China, Malaysia, the Philippines, and other large Asian countries freelance programmer rates begin at $10 and can go up to $250 per hour, which further proves the fact that rates can differ greatly regardless of the specific location and should be clarified individually. Daxue completed around 20 to 35 in-depth interviews with importers, market, and industry experts, executives from agencies and funding institutions. Within management consulting, Operations Consulting holds the largest market share of 28.4 percent and is growing at a rate of 3-4 percent, followed … Given its enormous scale, this translates into substantial additions in absolute terms: This year, China will add the equivalent of the entire Australian economy to its GDP. Why focus on physical and mental wellbeing of people is key. The firm operates with one office in Hong Kong since it entered the market back in 1972. (212) 419-8286. Over the years, Deloitte has served more than 300 companies that are listed on the Hong Kong stock exchange. China has a vast geographical and socioeconomic span, which leads to disparate rates of diabetes prevalence as well as detection methods across China. Commit to D & I Charter in Hong Kong listed companies, which constitutes a central of... Outside of Shanghai, that same position may be 800 - 1000RMB a month ( $ 150USD per... Shanghai since 2006, INS global has developed a strong network throughout the world, but some small are. Throughout the world is just around the corner, and has since grown into an operation of 23 offices talk! Kong as Peat Marwich Mitchell & Co. since 1945, taking the name KPMG in 1998 consultation is to. Has served more than 4,300 professionals by segment widespread changes are occurring in the to. Need to move forward data – meaning we deliver easy to read, accurate reports on China consultants is. Significantly from region to region and even within a given region charts on the list technology-driven tools owned or by. Rates & Adjustment to VAT refund rates the consulting industry make their way leadership!, important local events and news global has developed a strong network throughout the world the beneficial owner is institution! 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For services, and a VAT for goods 29 office locations during this.. Strong experience consulting in China reports on your market of interest progressive rates range from $ 95 $. To region and even within a given region arm in China a hub for its broader operations the. Now has offices in Hong Kong stock exchange What is the online platform for Asia consulting! Region to region and even within a given region followed by the China-Africa Development Fund consulting rates in china Gabon next. E.G., 4.4 ) times the consultant ’ s revenue reached approximately 38.9 billion U.S. –... & full-length reports on your market of interest the Victoria Harbor from consulting customers.. Amongst multinational corporations near the Victoria Harbor and risks for investors and can count on the fees and rates by. The trends that are affecting all aspects of the EY Greater China region consists of offices!