Hi All, Today I've resigned and my LOD is 2 Sept. Can anyone please let me know for these 90 days salary would be credited only after FnF. Or June'22 salary will be credited as usual, however, July and September salary would be credited during FnF. Please confirm or suggest.
Regards,
HCL Technologies
How is the Torrance area?
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As an ADC applying this summer for 2022 start, I haven’t gotten a chance to connect with any L.E.K. Consulting members and I really want to get to know the company better before moving on with my application. Any L.E.K. Consulting fish out there willing to spare a few minutes to chat about their work, the company, the culture etc? Thanks!
I have an offer to work for CLA as an assurance associate - financial institutions and I also have an offer to work for CalPERS as an investment office Private equity department, which one has good long term financial rewards and work life balance, for now all the position a financially rewarding the same Newco
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I agonized over this as a student too but the reality is the work is pretty similar and you need to trust your instincts on culture and people. None of these will be a bad decision. Good luck to you.
I’ve been with Baker Till now for 6 years. Great place to work. PM me if you’d like more info. Happy to talk specifics
Pay is less here than at big 4. I'm in consulting and I've done a lot of research on salaries using data from Colorado postings and talking to friends at other firms. In consulting, we're about 15-20% less than big 4 at the manager level. One thing to note is most people get the target bonus while other firms it's more variable and can be very difficult to get the top % they may put in the offer. So factor that in when looking at comp data.
I've stayed here knowing it's less pay because I generally work very reasonable hours (especially as a consultant and senior consultant), we never required weekly travel (somewhat of a moot point now), and I take about 4 weeks off every year without issues.
I think the WLB is worse because the firm let go of people a couple years ago ("stealth" layoffs of low performers) and slowed hiring for a while. Now we're getting as much work as ever but have less people to spread around. That's certainly the case for my group. But while I'm busier than ever I'm still working maybe 50 hours per week. Go to big 4 and I think that's normal and lower than their peak times.
I’ll put my 2 cents in.
WLB depends on the group your in & what type of work that you do. My wlb was bad this past performance year (I worked way too much since I was on massive engagements and all my PBCs came in around the same time). See below for my career progression.
2018: staff - $55,000
2019: staff - $59,000
2020: senior - $69,000 (promoted)
2020: senior - $77,000 (second salary increase due to COVID)
2021: senior - $83,200 (8% market adjustment)
2022: manager - $100,000 (promoted July 1)
You are bonus eligible starting in year 3. Senior bonus is 4% +- 2% depending on performance evaluations. Manager % is 8% +-2% depending on performance evaluations.
I know for a fact that Big4 will pay more but will typically work more. At PM you have the ability to pick whatever industry you want to work in and what type of returns that you work on.
When I first started, I wanted to do wealth management and I did that for 2 years, than when I got promoted to senior I switched and chose manufacturing & distribution (M&D). I still work on a ton of clients, big/small. My client base is not 100% M&D. I still work on service clients, wealth management etc. I also work on all types of returns (1041,1040,1120,1065,1020s, consolidated C Corps). I also dabble in SALT & ITS.
People at PM are also very willing to help you out when you have issues with scheduling, work load etc. Like I mentioned, my schedule got out of hand this past performance year, I switched team partners (mine is retiring in September), my new partner helped me get off of several engagements and a senior manager got me off 20 plus engagements and set up meetings with the other partners/principals/ managers etc to talk about me rolling off the engagements.
If you want to know more about PM, the culture etc just send me a message.
Btw, I’m in MI if that helps you.
That makes sense. I am hoping I never have to write 30 PPAs for other people ever again, it was miserable. PM & PD goals also matter in tax as well, PD not so much until manager.
If you want to know salary progression at mid size, it’s starts to fall off at senior and bigger drop off at manager levels. Starting out it’s always basically the same, if not some smaller firms will offer more. Almost took an offer with BT, solid place
What line of service and location are you looking to be in?
Wouldn’t go for small firm with looming recession. If boutique make sure not PE backed.
I’ll crack at it. Beyond consulting/audit/tax specialties/splits, both will be decent for career starting points or longer term companies.
Plante did not do layoffs during 2020, but new hire start dates were delayed from August to January.
To counter M1’s point, everyone in professional services is still scrambling for people at this point, the turnover is too damn high to starting laying off the L1’s who do all the grunt work & cost the least to staff.
PM1 I’m asking more along the lines of salary and career progression as in what’s the average length of time for promotions and such
Salary will be lower compared to big 4 like others have said. Promotions timelines are roughly about the same.
Have you considered something in between …like an RSM? Fastest growing ….lots of consulting offerings….pay May not go as high as big 4 but culture/work life balance is “probably” a better lifestyle…not sure what market you are but if you are considering not going big 4 you should look at them. In my market they are frankly like the 4th firm in town ans very well respected.
Are you asking regarding which is better overall or primarily regarding salary?
Also don’t know how to directly reply to anyone’s comments but I greatly appreciate the added info and help !
You will make more at big 4 for sure. I’m going into my SM3 year. I stay more for work life balance and my ability to take pto.
Sadly, I don’t know of anyone who has worked in these firms. Have you searched glassdoor and payscale? These sites often have accurate estimates.