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Most of the world does not live to work like we do. They work to live. Their compensation is much lower, but they work significantly less too. A friend of mine works in the Amsterdam office after coming from the US and says that her work life balance is insanely better because she actually gets told to go home after working 40 hours. Things are more relaxed just about everywhere. Even just up in Canada. People live on those salaries and are probably happier too. Our priorities are just different so we focus immediately on the money.
I lived in London for 3 years making about £65k. Had a great life living in Fulham and traveling like I wanted. It was no big deal.
I'm from Pwc and I'm happy. 👋🏻
Hi p1- what level?
In London most people seem to share flats to save money. Also, the need to save for retirement is reduced.
Keep in mind that in European countries starters don't have to deal with crippling student debt. Also, the pound has fallen a lot over the last year so that skews the view. And yes, there a very serious gap between MBB pay and others in the market, much more than in the US it seems.
Ups *Bain1
True, Bain 1. When I become debt free, a salary equivalent to $80K MAY be doable in London assuming I maybe have a flat mate.
@SC1- any recollection what your take home pay was? Did you save into your 401K during that time too?
US is king of the contractor economy
Because you are an idiot. Bye Felicia.
MBB seems to pull out okay over there. Deloitte, PWC, ACN, EY however, not so much.... :(
Manager
Wow some serious aggression on here. I started as an Analyst in the Amsterdam practice with a salary of €36k. And the hours at times were insane. Deloitte salaries in the junior levels are way below industry but level out at Manager and above.
And yes, salaries outside the US are low. The cost of living and working hours vary enormously by country and role.
BCG1 very true. I finished an engineering undergrad and masters with zero debt.
As someone who's worked on tech pursuits spanning across US and U.K., i know for sure that our billing rates are higher for the same levels in UK.. surprised to learn that the salaries are lower.
That's accurate.
Exchange rates
@D6- I accounted for exchange rates in the original post.
LOL. Exchange rate isn't a fixed thing.
D3 - I started my career at Deloitte S&O Latin America. As a Senior Consultant, I worked 70 hour weeks and was staffed alongside US Senior Consultants. We did exactly the same work for exactly the same client. The difference was that I was getting paid $1,300 a month. I had only 7 days of PTO a year and was forced by the partners when to take them. I knew nothing about savings until I moved to the US firm. You should try working elsewhere in the developing world to know what working hard for very little looks like.