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Sm1, S&1 is trolling. The rumor that op heard is inaccurate. First, pwc acquired Booz&Co, not Booz Allen (which is a publicly listed company mostly focused on gov consulting, though now they have a commercial business). Second, a number of groups within pwc advisory merged with legacy Booz into the strategy consulting business (marketed externally as Strategy&). For the strategy business, pwc set the comp on par with MBB/ ATK. In short, kept our comp structure plus minus some adjustments. The main source of compensation gap is in bonuses. For legacy pwc teams that joined the strategy business, there was a ramp up process for their comp to catch up. I would assume that it would be closed upon promotion. But not privy of those details. Responding to the original question from the op, not sure how D handled monitor or ey did with Parthenon. Situations were different as well as company sizes.
So the salary remained the same but people doing the same job at the same company are getting paid more money annually except for a 1 time bonus? Seems like that will not work...
Booz didn't have any impact on salaries and no, none of the other Big 4s would do that either. The only way to get a big boost in salary is to leave your current firm and to threaten to leave (job offer in hand)... Of course timing is everything with that second one.
Legacy PwC people who were merged into Strategy& did get big pay bumps. I was already well past six figures, and just got another six figures in compensation added to my package
Ha. Good for all the S& people. My partner was not transferred into s&, so none of her people below her weren't either. Funny, I've now worked on my 5th S& engagement, excellent reviews, paid pennies compared to same s& level on the teams. They recommend I quit and rejoin back as s&, but when I quit, I ain't coming back. PwC is a snake nest.
So if people left to join they'd only get that big bump within the strategy & group or I assume some others did get bumps too...although I'd think other companies would need to raise salaries as well as PWC to match
Don't join PwC, join s& or you will be pissed.
S&1 you were well past six figures? Does that mean seven or eight figures?
Sm1 no. I never said my salary increased by orders of magnitude. I said another six figure number was added on top of an existing six figure number.
^troll
The Strategy& side yes - I believe like 100% bonus. PwC, we still get paid pennies.
I would think Booz merging would bring up original PWC employees' salaries and I heard from a few people this definitely took place. If this is the case other big 4's would need to match this in order to stay competitive salary wise in the market or risk losing everyone to other firms, including PWC since they will hire at a higher salary.
S1, I would assume you were a tenured manager or a Director.
S&1: you said you were well past six figures. Six figures does not mean 100K. Six figures mean 100K to 999K. "Well past six figures" means "well past 999K". This is why you're happy to be part of S& and I left Booz for MBB when the acquisition was announced
SM1, which MBB has SM as a title? Only D and acn use SM as official titles
I changed my title on this app to the big 4 equivalent of my title. Most posters here I feel are big 4. I tried to adapt.
Huh?