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Well yeah - I went to industry AND YOU SHOULD TOO!
15% of the working hours for 80% of the pay of a principal/AP?
Why not!
(I don’t have ambitions for partner, I’m happy)
A2: I can bet you’re team red 😁
Better to have loved and lost than to have never loved at all, i.e. myself who got dinged in the final round at McK
I don't know, I think if I knew I was going to get tossed, I wouldn't have come
"No"
THE AUDACITY
Chief
As someone who had acess to the full report, I can tell you: this so called news sucks.
The report only accounted for US offices (UK is mentioned as well) and most importantly, the report clearly mentions the firms bring people from other offices to use in US projects - and they never mentioned it in the news.
Yeah, retention is a problem for most firms now. Yeah, all major firms have been reporting high levels of utilization (I don't think any MBB/T2 had an utilization lower than 90% in this year - maybe BCG). But this news gets a report that says "it's bad" and claim it says "it's a major crisis for consulting"
Chief
What you mean grew 40% while is up 10%, BCG2? 40% is locally?
Consulting firms when you leave after no promotion, no raise, 70% pay pump when leaving for industry, and high company profits
A few thoughts:
1) those bragging about 95% utilization are missing the point. That’s not sustainable - you can’t invest in your people, growth opportunities or relationships when your staff are that stretched.
2) Agree McDonalds and consulting are different animals wrt hiring - but it’s valid to compare/contrast across segments even though they don’t target the same resource pool
3) Consulting firms have always been overly aggressive in managing their workforce, not always wise at the micro but usually smart at the macro level. I was part of a RIF 12 years ago; received a great separation package and then spent the next few years as an independent contractor filling roles they could no longer supply because they didn’t have anybody with my skills - making 2.5x what I was while an employee there. I don’t hold any ill will; it was probably one of the best things that happened to me in my career.
If that is true, can somebody give me a referral to McKinsey? I work my ass off at a boutique I kind of regret joining.. 1st gen immigrant with a degree from a nontarget LAC, so I could really use a leg up to get an interview.
Currently considering a boutique from Big4. A 20% hike will be more than what my current firm will give me in 3 years. Would you really consider forgoing that?
Where’d you go friend
Pro
Cultural cross-tie alert: SG is one of Charlton Heston's finest hours. Plus you get to see Edward Robinson infatuated with a lettuce leaf. And when do they distribute it? On Green Day.
Rising Star
Kicked out?
No weed, just kicking poorly illustrated with emojis
Wow
How does getting kicked out work? Asking for a friend..
Pro
Serious related question...is it true that recruiting is suddenly harder? Haven't tons of people jumped ship from their firms to actively pursue other consulting roles. You not only have a more mobile network of experienced hires but a new graduating class with students who just went through a terrifying period of uncertainty that I imagine would drive them to a stable, well-paying industry.
What am I missing?
I don’t get this post??
20-25 years ago, the best and brightest who wanted a prestigious job that paid a lot of money either went into consulting or IB. Now they go work for FAANG. Even the gap between consulting and the better jobs in industry have narrowed considerably.
Or startups