Thunderstruck xx said:
RangerRick9211 said:
Bring the hate, but consulting is easy money. You have some dues coming out of B-school, but I've been in coast mode for a few years now. You just have to find the right client, make middle management and never, ever climb the ladder.
PwC is a cohort model and their folks always crowdsource their new comp to reverse engineer the pay structure across ranks/city/tier (performance). It's pretty similar and a good proxy for other firms.
https://docs.google.com/spreadsheets/u/0/d/1p82A0ORFPWb6pHMv0LFKzM4FClvFoDQ8HsNTEZkXtKQ/htmlview#gid=1642874993
For reference, a new MBA grad will enter as a SA2 ($193k) with a sign of $60 and a perf (Tier 1) target of 30%. Total all-in for a fresh hire is $310k for that year. It does go down next year as sign is a one off.
For me, 36, "Manager 2" equivalent in the sheet and it's pretty close. $220 base and a consistent Tier 2 performer (40%). I do nothing beyond my client role with no desire to move up. I have, and will continue to bounce between firms to remain a "Manager."
You won't hire into S&/EYP/Deloitte Strat without MBA on-campus pipeline. But I know plenty of ex-engineers within my firm that do advisory work without an MBA. Their pay is slightly below ours, but it's still great and the ceiling is the same as mine (all comp aligns at Partner across a firm).
Once you know the game, the gig is easy, criminally easy.
Consulting in which industry? And why do you never want to climb the ladder?
I hope he comes back to expand more, but I have a close friend that is a partner at a big 4. Planned their entire life / career to get to this point at 40.
They won't admit it, but I think they ultimately regret it. They went from making very good money, slightly above average time commitment, and managing actual meaningful work to ridicules time commitment chasing business and ridiculous money.
At some point it changes from being good at your job executing / managing work to basically being sales focused to bring in money to get your numbers / billable hours as a partner. And all the additional happy hours, business entertainment, travel, and account management that comes with it in addition to the previous responsibilities.
It's not surprising that the divorce rate / substance abuse rate is high among consulting partners.