Anyone had to take a pay cut when making a transition from Consulting to the Industry? Or is it just my luck with the economy right now?

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Yes 👍🏾, my company was going through a sizable layoff and I was rolling off my project in a few weeks. Client had expressed interest in bringing me on full time a few months prior, but we were still in talks of compensation.

I took a 15% cut, but the benefits, added PTO, and shortened promo cycle had sweetened the deal for me. So far I’m happy with the transition I made because the week I left my firm they’d layed off almost 10% of the workforce.

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Yes, I took a pay cut. I didn’t tell my interviewers or hiring manager but they knew what I was making in my current role in consulting and knew the job posting wouldn’t match it. I played hardball on that and was able to up my sign on bonus and turn the role from hybrid to 100% remote. I was making 225 total comp in consulting, and would have accepted 120 base for a fully remote role. I landed at a 195 total package fully remote. Total win for me 🙌🙌🙌

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The point is, know what’s important to you. Salary was not the most important thing for me, time and flexibility and being remote was. That’s the key to securing an offer you are totally happy with. For reference this was 1.5 years ago and I’m still thankful and feel incredibly lucky to have this role every single day

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I think that’s pretty common actually

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Consulting pays much more than industry.

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Maybe this is true for base salaries but definitely not true if you compare to Tech compensation. RSUs are the main driver behind high compensation in tech and it will always beat consulting.

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How much was your salary and new one?

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Went from strategy consulting to Gartner. Not necessarily industry, but also not consulting. Took a 10% cut in base pay, but everything else was worth it; esp hours.

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Yes, research focused. With some Practices peppered in. There is a consulting arm (~15% global business).

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Was fortunate enough to not take a pay cut during that transition, but it is not uncommon.

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Idk, I went from 140k as a senior consultant to 300k to do the same job and with fewer hours.

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What role?

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Consultants are generally paid more compared to equivalent positions within the client companies they work for.

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I wonder what consulting films these folks works at

Typically, yes, consultants take a pay cut when going to industry, especially when making the jump at M level or higher. There are obviously cases where it doesn't happen, but the norm is that the higher up the chain you go, the more likely you are to take a cut when going to industry.

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At some point consultants do not have the same functional depth to step into senior roles in industry right out of consulting. But there is money to be made in industry.

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No I got a 30k increase

No; my total comp went up about 20% when I exited. However, I have a PhD and left at a good time (2021).

Even I took a pay cut to leave consulting. I think it’s more the norm than the exception.

No, just received offer for 50%+ jump in TC (large pre-ipo tech company)

Different type role but lateral, level wise

I left a couple of times for 30% more TC

The other way around - maybe

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