Considering a move in-house. The stability and work-life balance are tempting, but I'm worried about a significant pay cut. Did anyone else make this jump? How did it impact your finances? And do these average numbers seem about right?

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I moved in-house at a senior level and can attest that, 1 year in, it’s paid better than my last years in consulting…

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Yes. Consulting hopes that you stick around for the Partner carrot. 🥕

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3 years as a partner and I strongly feel this idea that the industry pays less needs to be debunked.
1. Industry pay = base pay + bonus + equity. Often times people don’t think of the 3rd one but in a company that is growing equity becomes a significantly valuable element.
2. People often compare stagnated industry individual’s salaries to consulting partners in later stages. If you are looking to compare you can’t take a director level in the industry as a terminal level and compare it to a successful consulting partner salary. I senior consulting partner is a VP/ SVP level comparison
3. Yes, consulting often offers the most stable path to a 1m+ annual income. The path is well defined and you can keep doing more of the same over time to ensure success. The industry roles are filled with more land mines much of which are political
4. Industry roles that will take you to high $$ also require a lot of hard work. I don’t run into many SVPs who have better WLB than me. They all work weekends and are consistently connected.

So it depends. If you are looking to go to the industry and hit the gym for 3 hours everyday, you are most welcome but then expect lower TC as well.. but if you slog it out as much as in consulting and get partly lucky you could be doing equally well or better !!

Agree with this. I moved to industry before making partner (was very close within 0.5-2 years, but I had my reasons).

Pay was better than principal when I moved, but not as good as partner. It took me another ~3 years and an internal promotion to get to partner level total comp (~$900k). But it’s better WLB and, I’d argue, more stable than partner in consulting.

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