Anyone else feel like they have golden handcuffs? Nearly every recruiter I've spoken with doesn't believe my pay and/or can't match it. I want to leave consulting but I don't want a major pay cut

likehelpfulfunny
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And so another young professional realizes that professional services pays well because you have to work your ass off, whereas many other roles do not, because you don’t.

likefunny

Consultants’ Lives Don’t Matter

likefunnyuplifting

This is what gets me. Like, I literally went to consulting because of the exit opps. So what is it, exit opps or golden handcuffs??

likefunny

These two things aren’t mutually exclusive. You can have amazing exits relative to your YOE and still be paid less than your current salary.

like

Maybe the recruiters you are speaking with are filling junior roles

like

This has happened to me for LMM pe roles, Corp Dev manager at f500, and a couple of other positions. I'm 3.5 yoe so the positions are not super senior, but they are what I expected to be high paying roles (as well as interesting)

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I’ve resigned to the fact that I likely won’t get a pay bump, and might have to settle for less, but I want to leave so it has to be done

like

Not to be too technical, but my expectations are a base salary cut, but a net gain after RSU’s

likesmart

What are you asking for??

like

This is my fear too

Yep

Happened to me surprisingly for other consulting firms too!

Sounds like you need to set your sights on a higher level role outside of consulting and figure out how to land there

I'm targeting pe and corporate development, two niches that are not known for being stingy with pay. Pe is tough a mega funds aren't really possible to get to as I'm not at mbb or an ibank so I'm targeting mm funds

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Thoughts on offer?

Current:
- Manager w/ no MBA at EY-P non Strategy M&A
- 10 YoE in Consulting
- $165k held flat due to COVID
- No significant increase expected due to "market conditions" next year
- No expectation for promotion within next 2 years in practice


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- Annual bonus of 5-8%
- Similar work at a non-B4
- Southeast w/ moderate travel post COVID

like

Looking at exits into pharma and biotech. Have an opp at a biotech at the SM level. Total comp excluding equity is around $190k; RSUs vest over 4 years with annual refreshers, so first year equity would be around $6,200 and it would go up by $6,200 each of the next 3 years, plus whatever base bump I get. Very good benefits package.

They envision 2-3 years before I jump either to AD or right to D. Solid opp? Or hold out to go straight to director level?

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