curious outsider: currently a sr manager at rbc. our range for sm for total comp is 85-130k. as i understand, most post mba consultants with 2-3 yoe usually exit to senior manager levels at big 5... isnt that a huge pay cut? does seem like an exit “opportunity”. first year post mba associate/consults already bring in 120-150... im actually of thinking of applying to consulting lol so im genuinely asking

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Think about it this way: Consulting Manager = Director at a bank Consulting Senior Manager = Senior Director at a bank

likefunny

^this

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First year MBA consultants do not make 120k to 150k in Canada. Those are US numbers.

likefunny

Lol... much higher than $150...

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Most kids from Big 4 barely break the 100k at 2-3 YOE, no? So if they can get a 110-130k comp with better WLB, that’s not terrible?

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A senior manager at RBC is likely aligned to an SC or maybe a new M at a bug4 consulting firm. A senior manager at big 4 is a very senior level role with targets and accountabilities.

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2-3 years post MBA in B4 Canadian consulting will likely put you at the SC or M level depending on previous experience. At D, SC band looks roughly like ~ 75k - 110k and M ~ 90k - 130k

likefunny

Having worked for RBC and in consulting, the main thing is work life balance. There’s actually a noticeable difference in the amount of time you’ll have as a SM at the bank.

likefunny

Only directors and above at the banks work consulting hours. Then again, most of them are former consultants anyway.

Former RBCer (Retail and T&O) here debating going back for work life balance. Maybe worked 35-40 hours a week there, though I left as a manager. Currently doing 70-80hrs regularly. Making $110k post MBA with $20k signing bonus; would not be a pay cut if I could join top of the SM band considering RBC gives annual bonuses (~20% for avg performers) and Deloitte gave a pat on the back.

likefunny

Also I know several folks who leave at the big4 SC level and jump to SM bank level and it’s almost a bump in hierarchy, but a lateral salary move

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At Deloitte 2 years post MBA most are at SC level making ~100k

smart

Not true. I know a lot of MBA making under 100 even after 2 year of consulting. Tech consulting salaries starts at 85-95; Monitor 110

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Some industry jobs out of undergrad pay more than this, are you sure? If so, how do they hire for these roles?

^doesnt*

Yes that doesn’t sound like exit.

Biggest challenge isn’t for big 4 but rather drop from MBB in Toronto at all in comp of over $200k first year post MBA. However, WLB would be significantly better!

Worked with a few ex-MBBers who exited to strategy teams at banks, telecoms, and PEs in toronto / Montreal. A significant number of them are back at similar hours per week for lower pay, the silver lining is... they do get promoted faster than average and sleep on the same bed every night.

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Could go to ACN...no MBA 2 YOE....Presidents Choice brand undergrad (think Nipissing, Carleton, Lakehead or Bishops) and make 95K in a tier 2 (almost tier 3 city)

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