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I think it depends a lot on industry. Tech / pharma / insurance / banking should have no problem matching your comp. can’t speak to other industries
I lateraled at senior manager level. Total comp is about -10% lower, but will likely net out as higher in the long run, due to a) high pensions contributions (they give 20% of base) and b) a bunch of stock, from free stock to buy one get one free salary sacrifice and stock options as part of bonus.
In addition, pay at the next level is same as consulting Associate Partner. I view it as a short term pain for long term career benefits, and the WLB is worth it.
Consumer, retail, hospitality, manufacturing etc. will almost always come with a pay cut. Something I’ve noticed is if you are going into one of these industries and have relevant experience prior to MBA/joining the firm, they’ll take that into account which helps
C1- awesome. That typically works the best I suppose. I had a client ask me similarly that they could work towards creating a role, but I decided to not go ahead with that offer at the time..but good to see this happens more often than I thought it does
Average 20% bump to total comp although that may include stock
I’ve had a number of industry offers that are loosely laterals in level and compensation, which is pretty tough to take when you constantly have a big promotion and comp increase within a year or two horizon. As long as it’s my choice i would rather wait for the golden opportunity to take a big increase in level and ownership as an exit
BCG 2 - mind sharing the industry and title of the roles that are comparable? What is the avg comp being offered?
Curious to know the answer too. I doubt there are as many senior level roles paying such high base in the industry as the number of PL/Principals at MBB. So while they may make up the total comp, the base probably takes a hit
I spend all my time in boring industrials. Widgets that make the world round. The 20% average bump is common. I was making ~$300k (PL) and just left. Offers at 350-400k TC were dime a dozen (mostly Director/Sr Director). Ended up taking a VP role for 375 cash, 525 TC (at target bonus-equity, +/- depending on company perf).