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OP I'm confused...you haven't started yet but you already have a promotion date lined up? I'd be careful with those expectations. Sounds like commercial so I can't really speak intelligently (I'm federal) on base, but bonus for 1s was 25% (though I've heard of people getting higher, sometimes for retention).
I’m with D7. I’d rather hit the promo first. You obviously have a lot of experience, and that’s an attractive offer, but keep in mind that no matter the case you are competing with your cohort for promotion.
Flip the scenario for a moment: you sound certain that if you stay at your current firm for another year then you will get promoted. What are the odds that someone will get brought in this year and steal that promotion from you? Slim, right?
That’s precisely the situation you are betting on going into at D.
You will undoubtedly be competing with people who are in your current position at whatever firm you are at: people who have been there for a while, have a solid network, have been building to a promo for years, and are a shoe in for the promotion you are now banking on getting as you transfer in.
The offer sounds very lucrative, and this isn’t a slight against you at all, but I would never put money on transferring in and being a ready contender for SM.
Either way, congrats on a crazy high salary!
Got it makes sense. I guess what I'm saying is that a lot can change once you get on the ground and I've seen a lot of people get pushed off because their brand isn't clear. Can be tough starting in a new firm this large. It's a gamble that could be awesome or could totally suck.
There is no "Monitor" M&A group. Monitor/Strategy is a service line and M&A is a separate service line
M1 you’re right. Great points. Thanks for your inputs. I appreciate it. Salary aside (I’m at 169 now) the key things in favor of making the move are 1) I know I don’t want to be a Partner at Pdubs. 2) I will learn / get experience in M&A strategy / commercial DD work which will help in the long run 3) Deloitte S&O is a strong brand and I see myself as a Deloitte Principal (I worked there 6 years ago as a C (not SC and in Tech Consulting TSA), before pwc). 4) as a manager albeit a tenured one I have the opportunity to move to D establish my brand, build my network. The thing about extended path to SM is my only concern and I hear your opinion (valid) on the same.
Thanks for that D2. Maybe I misunderstood but I was told that the M&A strategy group within S&O M&A uses the Monitor brand. Is that not the case?
OP - We are doing away with all of the group names; currently Monitor and M&A groups fall under the S&O Service line... and about the false promise of making SM in 2019, be aware that it’s just that, a false promise, D told me whatever I wanted to here to get me in the door then things changed 😅 I have not known or even heard of a single M coming in and making SM in two years (and I work with some rockstars)
Interesting. Thanks for the insight guys. I just got a call from HR. Finally got my verbal offer Base $202K. Seems high for a first year manager don’t you think?
Mate, I work long hours here too. I don’t mind it as long as there is solid ROI. My concern now is that I’m 33 and don’t want to make SM at 37/38! That means 43/44 for Partner :/
I would stay where you are, get promoted, then move.
D7, you think? I’m concerned about moving directly into an SM role as I won’t have enough time to build a solid network that I’d be able to leverage going up for Partner. I already know that I don’t want to make Partner here and see no point waiting it out. I don’t believe in my firm’s strategy and have zero faith in the leaders here.
If those are your priorities, then I would take the offer. They are all great points, D is a great firm, and that’s an absurdly high salary. My only point was to take their promise of a rapid promotion with a grain of salt.
Personally, id take it.
Mate, you should see what some of our S& colleagues make. I don’t consider 202 as “absurdly” high ;)
Oh, wow. 202k is great. I would say go for it.
I’m a 3rd year manager and will expect to make SM at D in 2019. Appreciate your inputs! Thanks!
D1, that’s right. I’m very close to SM here and I’ve talked to a number of partners at D and have been told that I should expect SM by 2019 (instead of making it next year at my current firm)
Fair! I’ve done M&A work for 6 years now so I’m hoping I can hit the ground running. You’re right though it could be a hit or a miss. I am optimistic though. Just out of curiosity what’s the base salary range for S&O Federal?
Monitor and M&A are two different service lines. I'd expect 160-180 base. You would be slightly higher than that if you were hired out of bschool and a consistent top 10% performer, but unless you've got some good leverage I don't see them offering it up front. They are being even more squirrelly than usual with bonuses now, but based on past experience you'll get 30%+ with a 1 rating, 20-25 with a 2, and 10-15 with a 3.
Thanks D4, so you’re saying I get no credit for my 3 years as a manager? In other words D will consider me a first year manager?
It happens, just takes focus and a little manufactured luck to impress the right people. If you're helping grow the business you will get promoted