PA doesn't compete with the strategy houses and doesn't pretend to. It's main competitors would be the consulting arms of ex-big 5 and yes, Accenture would be in there. It also competes with other firms depending on practice (anything from technology specialists to government consultancies).Pay isn't just linked to the size of the company you know! PA compete for projects with many other consultancies and wins its fair share of them, therefore it should benchmark its pay against the companies it competes for work with regardless of size as they all draw on similar talent pools.By the way, PA and many other consultancies meet annually to benchmark salaries, I've seen the results and pretty much every consultancy pays pretty much the same. PA's base is often a little below competitors, but bonuses in good years can more than compensate for that. Of course, in lean years it doesn't stack up as nicely, but remember that PA remained very profitable even during the last downturn.