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I have received an offer of 5lpa + 1lac night shift allowance from Capgemini for the designation of Associate Consultant. I have a few questions if someone can answer - 1. Am I being paid correctly according to this designation? 2. How are the annual appraisals at the organisation and about how much % of hike does one receive on an average. Capgemini
Ps- I have 2.5 years of exp
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As a compensation consultant who has seen a lot of salary data, it’s pretty uncommon to hit 500K base salary. For 750-1M+ comp you typically see a significantly larger proportion towards the incentive vs. base pay. Perhaps change your question to Total Comp?
Not taxed more than base. Depends on what tax bracket you get into. The reason people think bonuses taxed more because irs sees one payment let’s say 20k bonus. To them you are making maybe 20k 2x a month. So they tax at 37% bracket. But in reality you made
Maybe 100k that year all in. So that extra tax comes back in form of a refund when you file taxes.
I work in PE and have access to salary data at ~30 firms. Not one person in our portcos makes 500k base.
$350-400k is really where base salary tops out in most places. The rest moves to other comp methods better aligned to business outcomes
M3 what an outrageous request for so many reasons 😂😂😂
If you want $400-$500 base and work 32 hours a week, go to medical school and become a dermatologist
A1, the points you’re making are absolutely useless given they apply to such a small portion of the segment. It’s increasingly difficult to start a private practice due to consolidation of health are systems (less impactful for derm) and increasing PE investments/platforms saturating the market.
Sure, if you’re skilled/marketable/lucky enough, you can still do it and clear the $1m mark. But then, I can give examples of rainmakers and say consultants make $5m+ a year, which would be a dishonest representation.
Rising Star
Are you the same person asking bout 400k and 300k in prior posts? Lol
Someone on Reddit suggest to ask on fishbowl as top earners are probably not on Reddit. However, they’re probably not here either 🤔😂
Work in an expensive city, where such salaries are more common. ;-/
Seriously, just look at your org chart, identify those that you expect "make the big bucks" and compare your CV to theirs - the gaps are what you should focus on, whether it's years of experience, a set of experiences / jobs they've had, overseas experience, experience in industry as well as consulting, selling experience, etc.
They didn't get those big bucks because it was simple or easy.
This is the most generic and over simplified advice I’ve read on this app. Look at your CEO’s resume and then identify gaps compared to your own? That’s just called experience. There’s no secret sauce. Working overseas won’t magically get you to a leadership role. You get those opportunities because of your network or because you bust your ass. This reads like a 22 year old wrote it who doesn’t have any real knowledge. No offense.
Crime and politics, thank me later
Deny deny deny
Very hard to make that in just base, it increases opex liability. Better way to ask is total comp. Consulting Partners. commission based enterprise software sellers, top engineers in big tech, top senior product managers in big tech, some EVPs in industry, some mid market CEOs, CROs, CFOs, some PE roles tied to outcomes. Essentially people generating revenue $20M+.
Opex = Functional budget to run the business. The largest bucket is compensation.
Capex = Special funding on top that has specific ROI tied to it; often bonuses and commissions will come out of this budget. It’s easier to shut this budget down without directly impacting the day to day operations of a function. This is why people make more in good times and that “more” is not base, it’s almost always in the form of bonuses, commissions, RSUs. Most programs are funded through capex.
In my opinion, businesses would benefit from shifting more funding to opex budgets and giving functional teams greater accountability for their budgets. This would help eliminate corporate bureaucracy and streamline decision-making.
Consulting partners make $1m and up. How to do it ? Work hard, make sure your skills are relevant and marketable, bring in $20m+ in new business every year, be politically astute, deliver quality engagements
do that for 15-25 years, make partner and you’re set.
Ezpz
Im a mid tier PE VP equivalent (my title is MD, but nuch smaller firm). My total was closer to 700k comp last year. I did this by moving a startup form with massive risk (i started base 200k, was earning close to 250k as SM in big 4- took a paycut) but trusted in my abilities. Rose up fast because i had the skills taught by consulting and worked very hard in my first 18-24 months. No shortcut to hard work- i didnt think i could do certain things i did and what i have learnt as a result. My salary growth mirrors my personal growth and my knowledge and skills i have accumulated. My advice is to keep looking out for opportunities and take certain risks.
By getting hired at Netflix. They pay those kinda salary with base.
K1 what does your buddy do?
You’d have to be a senior partner to get that kind of base. Most of our comp is performance bonus driven.
Why hasn’t anybody mentioned running one’s own business?
I really don’t know. A couple of millions, may be? If not today, at least 4-5 years down the line, we are going to see that profit.
Aren’t there businesses that have low capital investment but still generate profit / year. Content creators, reselling etc.
I read so many stories on CNBC that people make good money by buying and renting real estate, and still making profit on top of it.
I just think that the idea of running your own business is much more exciting than working for corporate & hoping for that 500k. In a entrepreneurial world, you set the boundary. Whereas in corporate world, somebody else decides your limit.
Also work in PE and I can tell you that 500k+ base is reserved for C-Suite or occasionally the top dev/data scientist within a technology company. Variable comp is the way due to mutual incentives.
In consulting, to get to $500k base it’s a matter of time, consistent performance in new biz, rev and profit growth and enough billable time to stay relevant. Rise up the ranks to Sr Partner and manage a business unit plus a personal account or two and you will get there eventually. It can help to change firms at some point to get a bump up, however that’s a one or two time thing- any more and you get marked as a job hopper and lose your personal network.
Your Highness, SVP1! Afraid to even ask how much is bonus/year!?!
Go to NFL or NBA. That’ll get it done for ya =)
*Aaron Judge has entered the chat*
Surgeons make $500k depends where you live and what specialty.
More than that, in places like the Hospital for Special Surgery $500K are rookie #s
CEO of Fortune 500 companies. CFO at some. But other reach $500k+ as TC with both short and long term incentives. Not many with base.
As many others mentioned, these sorts of base salaries are rare, and people usually get these sorts of total comp packages through bonuses and other incentives
However, where you can get a huge base is in the C suite of a large publicly traded C Corp or in the C suite of a large partnership (large international law firms are a great example)
At a large international law firm, a tax director’s base could be 400k. A CFO’s base will often be north of $600k, and a CEO’s base I knew of was over $900k (that last one I only had one data point for). I worked for a large international law firm and was close to the comp numbers
One other comment about this - partners at public accounting firms and large international law firms can also make way more than $500k (sometimes north of $10m in the latter case), but I didn’t mention this because it’s not a salary. It’s a share of profits
Anesthesiologists make this much i think.
I'll let you know when it happens. Just hit 400k last year. Comes down to selling yourself and creating and seizing opportunities
$400k base salary? First year partner I presume?