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Hi, I am being offered 27L + 2L Variable for Manager (M1) at KPMG India. Will I also be eligible for year end performance bonus? Or is variable pay the only amount that I’d be eligible for?
Am I being lowballed by the HR in terms of offer ? Approx 8yoe currently at 21LPA (recently promoted) KPMG KPMG India
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A&M bonuses aren’t as opaque as bonuses in most other firms, which you don’t know for sure until a review point. A&M pays on a % of the amount you bill, which you have full visibility to throughout the year. And, to some extent, you can control it if you become a high selling partner’s go to person or help sell work.
Good depends on the person, so I can’t answer that for you. It’s a formula, so the more you work, the more you get. If I bill 40 hours a week, 50 weeks a year, I’d count that bonus as good for me.
No
Pro
Negotiating base pay is close to impossible here
Chief
I don't work there (or McK anymore actually), but I spend way less than I earn so taking 50% or even 70% at the end of the year doesn't phase me.
It's actually good because it keeps you a frugalking
Chief
I'm a blockchain developer
I'm an engineer, not a consultant
*I wasn't a blockchain developer at McK. I'm not sure they even do that
Rising Star
Yeah it’s super nice. I spend the base and bank the bonus. Boom, 50% gross savings.
It’s not like your bonus is just some discretionary item that randomly gets awarded to you at year end. It’s all tied to your billables according to a formula so you kind of are in control for the most part
I actually prefer it because the base forces you to live a bit conservatively, then since your normal living expenses are under control, when bonus season comes it’s easier to use that lump sum to save, invest, or buy big ticket items all in cash at once
If you really need the cash flow you could just roll the bonus into the next year and draw on it over time like a paycheck I suppose
You really don’t need to be billing anything close to 2,080 hours for a solid bonus. Though I suppose that depends on your definition of “solid”
Pro
Not at A&M but a similar firm and our bonus is 30-50% of base, maybe more for some. You just have to manage cash flows. After first year, it becomes nice - I fund my next year’s planned major expenses with the bonus and use the base salary to pay for day to day stuff and auto investing. Any bonus remainder gets put into brokerage account. Oh, and the December bonus pats for the big holiday credit card bill and winter vacation 😂.