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What are managing consultants salary range?
Hello ZSers,
I have been shortlisted for AC role and my HR discussion is scheduled next week.
1. Need some insights on the maximum and minimum ctc (fixed and variable) that can be offered for 3 yoe (all relevant) . My current ctc is 7.2 (6.5 fixed) . Tech stack - Big data and AWS developer.
2. Is there any joining bonus. If yes , what should be the ask.
Any inputs will be very helpful for me to go with my expectations to the HR. Thanks!
ZS Associates
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Bowl Leader
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We don’t want this
Rising Star
So you don’t get paid out PTO when you leave....unlimited pto is a bad thing
A1 you should take a vacation
Pro
Unlimited PTO = Biggest scam ever
Rising Star
Biggest scam ever only after....bottled water that sells for $10 at airports
Pro
Unlimited PTO is a terrible thing. In a way I'd say we have unlimited PTO already because I don't remember the last time I used all 20-25 days we get annually.
Think 20-25 days is standard at Big 4
Unlimited PTO is a cost cutting measure. Everyone knows they need to use their limited PTO before it expires, so taking vacations doesn’t feel weird. On unlimited, it can be heard to gauge what is acceptable and people err on the side of not using it as much. Studies found people take PTO less when it’s unlimited compared to limited
You also don’t get paid out PTO when you leave, so you’re missing out on ~1 months salary
As an HR consultant, this is absolutely a cost cutting measure. It reduces the cost associated with a termination, which is already quite expensive when factoring in lost productivity of new hire, training time, recruiting costs, severance payments, etc. The other benefit is an employee's mindset shifts from I MUST take my PTO before it expires, to I CAN take PTO. This results in employees taking less PTO and ultimately creating more revenue for the company.
Pro
Joke’s on you, EY.
Jokes on is at KPMG as we follow suit. And you know we will!
Unlimited PTO means no PTO. If you quit now, you won’t be able to cash out the PTOs you have accrued.
KPMG changed the PTO policy this year. I’ll keep our limited PTO and two week shut downs per year.
C2 - correct that’s what I meant by mandatory PTO.
Why do people treat vacation as a termination benefit? PTO is not a deferred comp plan. Manage your work and take the time off to recharge during the year, even while working from home.
There is a reason that defined PTO is carried as a liability on the books. It is because it *is* part of formal compensation, so the company must carry enough liability to cover that compensation. Ergo, with the liability gone, so is a portion of compensation. "Undefined PTO" is exactly what P1 says, PTO becomes less well defined and there is an air of flexibility about it that causes people to have less respect for that time off. Especially if, like me, you tend to take more staycations.
Rising Star
Trust me they’ll tell you can take all you want but between hitting your utilization targets, getting your work done, and getting approval you’ll take just as much PTO as you always did. But when you leave the firm the firm has to pay you zero dollars because you have no PTO accrued
Pro
Exactly, saying « go ahead, it’s unlimited » but then to keep measuring almost every decision with an eye on metrics like chargeability, utilization etc, they’re setting up clear incentives for the workaholic wlb
Chief
So EY screwed people over. Unlimited PTO is a scam, they don't owe a pto payout when you move.
Only a matter of time D does it now
Rising Star
Unlimited PTO is only good for employers, never good for employees
No! It's a trap!
Is EY paying you out of your accrued PTO? If not, they just took money away from you
Yes they do. I got nice PTO $ plus sign on at kpmg. Those were the times...
Chief
So now EY doesnt have to pay for PTO if you leave and have unused PTO.
They will also likely have to model a “suggested” PTO in your annual utilization metrics.
Only hurts the employees. Studies show this model results in reduced usage and clears a large liability from the balance sheet. They wouldn’t be doing it otherwise!
Not only is the payout gone, but studies seem to suggest an unlimited PTO model leads to employees taking fewer PTO days as well
I always laugh when I see people get excited about unlimited PTO...
Pro
It sounds cooler to say « unlimited » rather than « PTO subject to workload, peer pressure and a case by case approval »
Yeah I hope they don’t do that
To me it doesn’t seem like a fair system. What if one person has a supervisor that allows them to take PTO every Friday as long as their responsibilities are met and person that has a supervisor that is nickel and diming every request
Lol that’s cute D6...