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D3 - sorry you’re so salty about this but 1) the 2 years are absolutely not free and while MBAs tend to have free time to also party, it does involve a bunch of work, including recruiting and costs 200k. 2) if you’ve always had 1s and the firm doesn’t care about your request you should either accept that your request for more money is not warranted or find an employer that wants to give you what you want. Talking shit about MBA grads will not change your situation.
Biggest pet peeve with the firm. I worked and didn’t have 2 years of a free party and yet I’m still being paid less as a manager than our first year SC MBa hires. And I’ve been a 1 my entire career. It’s something I bring up every year and I will continue to until I retire or it changes.
Have you been able to get any comp adjustments because of that?
Nope since they have a MBA and you don’t. In the same boat as you mostly and annoyed but such is the MBA market
Agreed
When I was at Deloitte, I was told home-grown SCs will receive roughly $30K lower base pay than GSAP ones to account for lack of MBA, and that it “evens out once you make SM”, but not before then, “to be fair to those with an MBA”.
It does not even out, at least not naturally (ie without doing a comp adjustment) even if you are a top performer.
also worth remembering that they had 2 yrs opportunity cost (you can value that at $260k minus taxes). Also, they get paid back once they return. And thats treated as taxable income. And if you had to take out loans to front the cost it wont pay the interest. Anyone correct me if im wrong
130 salary so 260k lost wages per OP. Deloitte will pay the 200k tuition back to you (minus taxes) but not the interest if you have to front loans. So probably closer to $300k cost just to return to your own employer?
They will cover the interest cost but you are right that the amount they give you is taxable income. You still have to pay alot of your own money overall for housing, transportation, meals, books too.
Also you’re going to eat, commute and live somewhere regardless so don’t try and count those expenses as opportunity cost unless you’re truly living out of a suitcase and off per diems as a consultant