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I have recently joined EY SaT group as senior consultant recently in Netherlands. I’m tripple masters in MS economics, MBA and MS business analytics. Have 4 YOE in different industries but no M&A experience specifically. Any ideas what company should be offering me? I’ll be working as expert on commercial due diligence, FDD and valuation teams and doing automation alongside. is it wise to demand higher salary or promotion soon after I have proven that I can work and do it better than most?EY
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Think about it this way:
Consulting Manager = Director at a bank
Consulting Senior Manager = Senior Director at a bank
^this
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.
First year MBA consultants do not make 120k to 150k in Canada. Those are US numbers.
Lol... much higher than $150...
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?
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.
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
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.
Only directors and above at the banks work consulting hours. Then again, most of them are former consultants anyway.
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
At Deloitte 2 years post MBA most are at SC level making ~100k
Rising Star
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
Some industry jobs out of undergrad pay more than this, are you sure? If so, how do they hire for these roles?
^doesnt*
Rising Star
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.
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)