European consultants - don’t you think we are underpaid? For the level of work and the hours? Have any of you thought of exits to Tech to make more €€€?

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Huge difference in the Nordics between B4+acn consulting salaries and other global consultancies. If you’re working at a big 4 consulting arm, acn or local consultancy you are super underpaid; regular salary, additional hours.
If you are working at MBB or T2 you make +30% more and have just taken a different choice in life. You might work more than most, but very few people are even presented with the opportunity to make that kind of money out of school. I am in my twenties and in the top 1.5% of earners in my country, so would not consider myself underpaid regardless of hours worked.
Dynamic seem to be very different from US where I heard Acn strat, EYP, S&, etc pays pretty well.

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@BCG1, big differences start from manager upwards (ACN strategy manager starts at around 100k). Also bonuses at the firm are typically small compared to MBB (5-10%).

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I’m in the Nordics and my entry level salary is around the national average salary (no matter experience). So relatively high but I agree we do more overtime then what we are paid for

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I'm moving to DK and after some researches I realized I'm in the same situation, though I'm in my 5th YoE. BTW it is a small company and I'm still an expat so I feel like it is ok for now.

I'm in Italy and the hours worked are high. Pay is very low. I'm told I'm well payed compared to others as the national average is very low income, but everyone works with cash under the table so they earn just fine. I don't think the cost of living is in line with salary. It's a hard one as I like the work, but struggle with the compensation when I look at other countries and the earning power there.

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Cash under the table? How? In big firms?

Europe salaries are lower in general - going to tech you won't see the same type of jumps people talk about when they refer to the US.

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Within Europe, the consultant salary typically places us in the top 10% (starting salary)-2% income bracket.

In absolute figures, the US is an outlier I feel. Also we typically don't have to worry about healthcare, infrastructure, childcare, etc., which makes up for the difference.

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I moved to tech in Asia (AWS) and can tell the money is better but you need to take care of healthcare and childcare etc yourself. Also what you consider “overtime” in europe is kind of the norm here. I have clients calling me at 9 or 10 pm. In Europe if a client called me after 7 pm something must be on fire…

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Giant tech companies in China are famous for the concept of 996 (9am to 9pm x 6 days) or even worse 007 (you get what I mean here)

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Not sure if tech is paying more here in Germany , the salary after 2-3 years in consulting gets pretty decent. I' d rather prefer to go to big pharma paywise

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Out of curiosity, what's the typical pay for C equivalent tech exit on Europe?

Glassdoor figures: consultant (MBA hire, a level below manager) TC for MBB is ~120k€

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Tech doesn’t necessarily pay more and the promotional increase can be very small

I started working in advisory in an eastern European country (where I'm from) after getting my bachelor's and master's from UK university. My bf (similar background, same international education) started working in tech (his first job ever) and is already making 3 times more than me. And the prospects of my salary are not very promising. So I'm for sure thinking about transitioning to tech.

Well, here there are no consulting positions, so that is the closest one 🤷🏻‍♀️

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