Personal Investment Chatter

First year consultant making $64k, is this okay? I live in Chicago and work at Protiviti. How are some consultants making $150k+?

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No one is making $150 in consulting right out of college.. you work your way up. Consulting tends to have bigger base pay raises YoY than industry

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I work at ZS. My recommendation would be to research whatever schools you are considering and make sure the post-MBA opportunities align with what you want to do. If consulting firms aren't targeting there and the career services is mediocre for high paying careers, or not many grads go into consulting, it probably isn't worth it. That's not to say it's impossible to get into consulting from there, but it would be much harder. I got my MBA part time from a non-target school. However, I have an Ivy undergrad on my resume and had 6 years of work experience by the time I graduated b school. I wasn't really looking to get into consulting either. The opportunity just presented itself. So I lucked out a bit and got amazing ROI. But TBH, if I was trying to break into a consulting role that was aligned with my work experience (ie: a traditional McKinsey consultant), I don't think it would have ever happened.

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I started at 60 in Aug 2015. Now at 160. It goes up quickly

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It depends. Since I joined a year ago I've been local 6 months and traveling 6 months

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Started at $50k 5.5yr ago, now make $150k- you have to work your way up. The fastest way to get there is to jump firms, it’s also easier to jump firms earlier in your career and I highly encourage it. Had I jumped firms, I’d be at ~$170k- I almost jumped a year ago but rescinded my acceptance the week before starting due to personal reasons.

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Strategy consulting... from a ~$90k starting base with ~20% bonus, to a $170k + 30% bonus 2 years in at post-mba level

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Only for the first year, no difference thereafter.

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Are you sure you are not a internal control consultant lol

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🙄

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Haven’t seen anyone making that much as first year consultant. What groups are those ones in, I would consider applying! I’m in Chicago as well. Honestly, your starting is on the lower end. My friend as EY Tax is making that much in Chicago.

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Well I know starting wouldn’t be as high but I know most consultants start around $70k so Protiviti is on the lower side but I am working my way up to Accenture and hoping to transfer there

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The pay raises will come in time. Trust me. I started my career at Protiviti but just left. I started in 2015 and made about 61K. When I left after just 4 years I was making just at about 100k plus bonus. I took an offer for a 25% raise. More money comes with the next few years. Best advice that I can give you now is try and stack for 401k and Roth IRA and you’ll see your net worth grow in time.

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Accenture 1 have you stayed with Accenture your entire career ? Or did you transfer ? If you don’t mind me asking, what is your title ?

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I started at PwC. Moved over to ACN last January. I left PwC as a Senior Associate and am a Consultant at Accenture (lateral move in title)

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I know Protiviti is on the lower end. I am planning to switch to Accenture within a year. My main concern is traveling, I don’t travel much right now and don’t really want to and I know that if I move to Accenture I will be traveling

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Although I agree with A1, you should go in with the expectation that you will be traveling otherwise you’ll find yourself disappointed. I’ve not been on a local project in my entire career.

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Thank you so much for sharing this information. I know that jumping firms is usually a good way to make more money. Would you recommend jumping firms after a year worth of experience? Also if you don’t mind me asking, which company do you work for ?

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Managers and teams make or break your experience. It’s one of the reasons I’ve held back from jumping, my leadership is very accommodating and supportive all around, difficult to put a price tag on that. Sniff out the culture and people during interviews, then make a decision- worse case scenario, you leave again- not a big deal. It’s easier to jump around early on in your career.

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