That's the realm of extreme skill, luck, and timing. There is no way there's a cookie-cutter solution to that and if people say there is I suggest they're no different to Tai Lopez etc...

Two solutions I have seen (thanks to the news):

1. Be being a world-class academic on a hot ML topic consulting to a huge tech company at a strategic level

2. Be the prime minister of a G8 country and consult for global investment firms

If you're a software engineer or even engineering leader at a startup/SME you're not going to find these contracts unless you're in the 0.001% of the market for a niche skill that's desperately in need.

Consultants exist at every level. An individual will (should?) never make more than the client they serve. However, a team of consultants (like the ones who consult for global firms) can demand more than an individual can. Often times a lot more. They also take on indemnification and more risk. Last I checked, an engagement with Deloitte for anything costs $10M out the gate.

Yes but the question was how does one consultant earn multiple millions of dollars. The average managing directors at Deloitte earn around $500k - I don't think there's any reasonable way to earn over double the average managing directors rate at a Big 4 without being a sole contractor directly contracting with a company

Contracting != consulting.

I don't really understand what you're on about anymore. Fwiw, I am a consultant and do know the field.

Edit: Maybe you're unaware of the term https://www.lawinsider.com/dictionary/sole-contractor, I was talking about a single person consulting, not a contract developer or whatever

You say you’re a consultant and yet link to a definition of a sole contractor.

Again, I’m talking about consulting, not contracting. Those are different. If you don’t know the difference then here’s a definition of a consultant https://www.lawinsider.com/dictionary/consultant

Now, to a layman, these may look identical. To a consultant, these are vastly different things.

You are not paid on output, you are paid on outcome.

You're misunderstanding me. I'm saying it is extremely rare for a consultant to earn multiple millions a year. On the cases it is possible, they are going to be very niche individuals not going into a company via Deloitte etc but as themselves.

Start a consultancy, start making money. There’s no hard guide. No playbook on how to succeed for you personally. It’s a business, just like any other. Treat it as a business. Not a job. Build it up. Network. Showcase. Charge slightly less than you would have. Hire more people to assist in the work. Compound your time. Compound your money.

Sounds like not much different from working on ur own startup. That would be very different from coasting as senior/staff in faang