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I have recently got selected in tcs and I have 10.5 years of experience with 25 LPA. Now for salary negotiation hr is asking me to go with ur current pkg otherwise it will be dropped bcoz it's already very high pkg for them. What should I do if I have an offer of 29 LPA from other company? Tata Consultancy@
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Don't work at Deloitte, but I know S&O is well regarded.
Here at FB, we got bunch of consultants who are supposed to be data driven yet just talk about their own personal opinion.
Here is the survey compiled by Vault. But honestly who cares? No body knows about consulting out side of small circle. Let alone Strategy or management consulting.
It doesn't prove you are smarter either or better in any other way as I've seen people move between these forms and be successful.
http://www.vault.com/company-rankings/consulting/vault-consulting-50/?sRankID=248&pg=2
M7 student: Didn't get MBB offer, but got offers from S&, Parthenon, LEK, ATK, ACN strategy and Deloitte. Where should I go?
D2: DELOITTE, because D2 says they are most in demand and well regarded outside MBB.
BM1: log into vault "general consulting" top 50 pick the next one after MBB because this is a great data set, obviously better than adding data/context from primary sources, interns, alums, school reports, friends etc.
BM1, some logic and data for you.
D2 deloitte is well regarded no doubt, but the premise that they don't have to adjust comp to attract talent is flawed.
Prior to BCG's bump, Deloitte with the internship sign on, plus second year tuition and competitive base and bonus still struggled to win cross offer not only verus other tier 2s, but also verus other tech and banking firms that recruit from MBA. You're forgetting that your competition during recruiting isn't just consulting firms when you make such assumptions.
Other D folks, No one is butt hurt, nor are we ignoring data, D2 just made a blanket statement without showing the data, most of us went to bschool and know others/have friend that went to bschool. One thing we can all agree on, is that there isn't one source of truth on who is the best tier 2, same even for MBB; is M the best ? Based on what metric? Over what period? Point is, subjectivity and preference are also factored in and if you eliminate differential in comps and benefits you're more likely to land people that actually want to come to your firm for reasons other than just $$
Agreed that it is not an excuse to not match compensation.
But that was not my point. I was refuting the nonsense that Deloitte S&O is somehow in different lower league compared to other T2.
Don’t think so... partners too cheap and bill rates too low. Also, very different leverage models (staff/partners).
OP. Depends on the firm and the person. We’ve become much more selective, but make appropriate offers where it makes sense
No Deloitte did not. Deloitte raised the base to 150 but took the raise out of the signing bonus - which means that the total remains flat. So far no impact on salaries beyond that level because this cohort is only joining later this year. But...don’t hold your breath.
All non Deloitte tier 2 or tier 3 firms for that matter are/were very triggered by your post OP. Way to bring out the insecurities!
Christ people, please work on reading comprehension. People get so caught up with the comments vs. answering the question. The question was about MATCHING mbb offers, not raising pay in line. Scroll ALLLLLL the way back to my very 1st comment. All else equal, our existing bill rates and leverage model preclude us from paying associates the same as mbb. It’s simple math to allow for growing epp. Not trying to be snarky, also not trying to be a Deloitte homer. Just a humble dude trying to contribute to the community. And yes, of course I applied to mbb and struck out. And no I’m not bitter. Life’s great at Deloitte as I’m sure it is at other firms listed here. The ———- measuring has got to stop people.
Edit - nor did I say people should come to Deloitte over other firms. It is the most 4th in demand firm by app volume. Ge is/was the most widely held stock - does that make it a good investment? I’m positing harmless facts that if you can’t take as only nuggets of incomplete information, I can’t help you. I’m here as D2, not god almighty, Jesus, or your savior.
http://www.beatoncapital.com/2015/06/state-of-the-mbb-next-four-and-big-four-strategy-consulting-empires/
Very interesting read
Deloitte just doesn't do a ton of pure strategy work and have been hiring a ton of experienced hires to keep up with market demand.
Not sure how we will continue hiring on campus for MBAs given our operating model shift last year. I don't know if the type of work we do requires a bunch of highly paid MBA students who just want to be senior consultants for 2 years the leave to industry.
I’m seeing a trend toward trimming offers and relying more heavily on Intern returns, done with tuition and return bonus. The greenfield, no-consulting-experience ones are concerning.
There’s limited need for non-MBB to target >155 next year for the talent we’re likely to capture. With that, Deloitte will continue on campus for brand presence, but likely not go for as many offers
Disagree with D2 on a couple of things here. When MBA students chose D over the other firms you listed it was usually because D covered more of their second year expenses. If starting salaries are lower then that may change the math for those people. No one who knows anything about the industry is picking D over ATK, OW, LEK which have more in common with MBB in terms of culture, type of cases, pay, leverage model, advancement than they do with D or any big 4.
Deloitte was inline b4 the bump, you're very scattered in your comments and analysis. See below:
Total comp for Post mba non internship was inline and with internship exceeded MBB. Prior baseline(breakdowns excludes Pathernon) for yr1 was in the 195-230 (total yr 1 range includes Parthenon) range. Base:140-150, Bonus: 30-45k, sign on: 25-35k
Deloitte no internship:
140-150 plus up to 45k bonus + 25k sign on=220k (high side)
For returning interns:
add second year tuition anywhere from 40-90k depending on program, plus 25k extra in bonus: 220+40+25 (285) to 220+90+25 (335)
This suggest your premise is flawed, Deloitte was able to afford this prior, if rates didnt drop, then maybe your argument is that for returning interns, the package is very competitive and Deloitte rely solely on those for pipeline, so Deloitte can afford to maintain as is and get what they get if they miss target on interns.
Also you ignore that if the market adjust prices accordingly, that partners might be able to push this on the clients.
Hopefully you can see that this isn't about reading your comments entirely.
Side note/word of advice:
Biggest problem in communication is the illusion that it has taken place.
^ favorite guy at the party who refuses to accept common slang, probably wears vineyard vines and sips mocktails in Danbury, ct. must be life of the party :) enjoy your stressful day while I keep dunking!
What is the difference between sign on and bonus? Isnt the bonus variable depending on company performance , your performance etc?