Got an industry offer - Director level, 100% remote - $230k & 15% bonus. SM1 $177k. Thinking that isn’t enough to jump but close friends think I’m letting the carrot of Principal, and the pension that goes with it, cloud my judgement. Thoughts?

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How is a $90k pay increase (+60k base and +30k bonus) plus better WLB not enough to jump??? You can’t compare the best case future in consulting (making it to Principal and staying long enough to get a meaningful pension) to the offer you have on the table today assuming no growth. Either compare today to today or future to future. You’ll have growth opportunities in the industry role as well that you seem to be ignoring. How long to Principal if you stay at D? How long after that before the pension is worth a significant amount? No guarantees you’ll get there or that the pension scheme won’t change between now and then. Also $177k sounds low for SM. Is that your base + bonus?

likesmart

There are a number of things including pension beyond units held

The real question is: how close are you to making ppmd. Do you already have the support and network to make it from the pool of 100s of SMs - a lot of them deserving and overdue still waiting for their turn. If you are certain that they will not come up with a new excuse every year to delay you and keep stringing the carrot, then wait for ppmd. If you even slightly doubt you will make in next 2yrs, take the offer!! Think about all the time you will get for doing things you love and not going through the SM pressures day in and day out. Making more money and wfh, that’s a bonus! Good luck!!

likesmart

I was Year 2 SM at 210 base when I left D. I’d seen Year 7 SMs still struggling to make it and left the right opportunity arose.

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Making nearly 60k more just in base comp and able to work remotely 100% is a great offer.

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If this is in an industry and position with good WLB the 100% remote aspect makes this immensely more compelling

likesmart

I mean I would take that in your position lol

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100% remote, 30% comp increase, and most likely better WLB makes it a no brainer as far as I'm concerned. You can always come back to the consulting rat race if it doesn't work out.

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$177 as an SM? I was at $175 as an SC before I left last year. You should bail.

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Leave. That’s a 50K swing, it’s a no brainer. If you hate it chill for two years and enjoy your life then boomerang back for another 20%. I have the same scenario but looking at an MBB role. I know I won’t survive there because I’m over consulting... but also know I can get a nice bump, drag ass for at least a year there if not two and bail to industry for a cushy gig. The shortest distance to anywhere is a straight line, screw the rat race.

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YOE, and industry? But this does sound like a good deal, regardless

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I’ll take that offer if you don’t. What kind of positions are these. I want them.

likefunny

Jump ship. Promotion to PPMD is slower due to Covid

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You need to consider the best case scenario for industry as well. While it’s less predictable, can’t you also make 500k+ in the industry company if you rise closer to the exec levels?

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What is D willing to Match?

funny

D won’t match $230k for SM2. Guaranteed. They’ll make an empty promise to get OP there in the next cycle (2022) as an SM3/4. And if OP is a solid performer, they may try to entice OP with a $25k retention bonus now that’ll have a 2-yr clawback contract OP will have to sign. So then you’ll feel tied down for 2 years carrying you to SM4...at which point you’ll feel obligated to stay till SM5 when you are up for PMD...they know what they are doing.

likehelpful

What's the trajectory for industry offer? What's the probability you make it to Principal and the pension that goes with it? How much do you value money over WLB. For me, I'd make some assumptions about long-term wealth and quality of life. Then choose based on that. Either way you'll make enough to be comfortable. Choose the one that makes you happier.

What does the pension entail? Would you have to remain at D for a period of time after promotion to receive it?

At D, you have to be a Partner for 10 years to qualify for lifetime pension.

helpful

Comp is great. If this is what you want go with it.

Take it

I’d take that offer in a heartbeat. I’m going in M3 year and am on deck for SM, but I have no desire to become an SM at Deloitte. Known for paying SMs lower than most of competitors and the SM lifestyle is far from desirable. I see all the SMs I’m close with now grinding it out every single day, completely stressed out, for the hopes of making Partner in 5 years. Life’s too short.

Others may have said it, but how important is WLB to you? How much do you dislike consulting? I’m a consulting boomerang after a few years in industry, happy to chat.

Take it

I did something similar . I was M though . Haven’t regretted my decision . Oh and I was commercial M making more than what you at D .. 🤦🏾‍♀️

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