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Hi fishes ,
I have 9YOE in channel development, B2B , B2D , Team handling for sales and marketing role , working as Regional manager of Andhrapradesh for MARG LTD.
Need to change due to growth and betterment for my career.
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Is EY firm leadership based in New York.
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Yes.
Basically the undergrads that have grown up have a longer period of performance at the firm - also tend to be cheaper at level than exp hires due to increases based on initial salary. What you don't see is all the underperforming undergrad hires that were eventually weeded out already.
Yes, because they have had time to develop an internal network and brand. Thats ultimately what decides the progression, fair or not. People want to know they are promoting a "known quantity". This applies to lateral moves too
This is the main advantage. As exp hire, pay is higher but career progression is stalled.
Experience and education don't qualify you for a management role in consulting. That said, it's a performance-based job and those things will likely become in advantage in the long run
D1, you are just giving the typical recruiter response. :). But I know so many people who have had solid industry including project management experience and business analysis but are brought down to levels of their peers who have stayed with the firm for longer but have much less experience in general, hardly have any industry or consulting experience with other firms.
Someone who joins EY advisory as an Exp. staff gets promoted to Senior in 2 years and ideally to a Manager in the next 3 years. So by the time, someone is 27, he/she is already a manager if that person joined EY right after completing undergrad. On the other hand, I, like many others, joined EY after my MBA (having around 5 years of prior experience) and yet was offered a Senior 2 level position. In fact, many others that I know and who have even much higher work experience bur don't have an MBA degrees were offered Senior level roles. Isn't it somewhat unfair? Or what am I missing here?
3 years industry = 1 year consulting. Generally even if you have 6 years exp in industry you'll only end up a senior on most cases
Which EY4 is not fair. And in fact as I mentioned, there are people with MBAs from very good schools and prior work experience who start off as senior 2
OP, coming from both perspectives here... went to college later and started in consulting. The weed out factor is real in the sense that people will leave when the lifestyle, ratings and dollars don't align. For the fair topic, I think the firm sets you up for success by lowering the expectations and cost when you join consulting. The firm fully expects Managers to run projects and manage the client. If you could do that day 1 then great and you'll be put up for promo; if not, low harm and move onto the next project. In my mind, just kill it on those projects, get those 5's and the money/promo will happen.
A1, weeded out? The undergrad hires get promoted to senior in 2 years. I joined EY as a senior 2 at the age of 32 just to give you some perspective :). Of course, my experience in India was never valued by the recruiters here and I had a tough time convincing them that I deserve a higher level when I was about to join
EY, I see your point but don't agree completely
Management in industry is not the same, and compensation is all that matters, not titles. You start at lower titles and are overpaid. If you're good, you advance titles quicker, so that your title is commensurate with your pay. Most industry people would completely sink as a manager their first year. This works in their benefit since bonuses will be based on comparisons to much less qualified people, and it gives you time to learn the processes and networks needed for manager level success with sales and revenue goals
It's because of the s*** that undergrads have been through over the 5 years - that's why they become managers. In the industry, at least you have something specific to do instead of just working on presentations, soft skills, sales and being an assistant to partners and senior managers.
Yes, you can brainwash them earlier and they're cheap and cheerful and really easy to like because they get stuff done and don't have any personal life to speak of. I love associates and as an experienced, slightly older senior I totally understand why we get shafted for them.
So I am an example - started right out of undergrad and just completed my first year as a manager (promoted 1 year early). I can tell you yes I am at an advantage rank wise but no where close to the same pay. Actually leaving to get my MBA.