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Does anyone have experience interviewing with Deloitte Internal Services? I had my final interview a week and a half ago, and received positive feedback throughout. The hiring manager had positive things to say and mentioned they hoped to make a decision by the end of last week. It’s now Friday the week after. The role still shows as “Interviews in Process.” We did discuss potential start dates, but no salary. Any experience with receiving offers for an internal services role? Is this common?
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Safe to say >95% of MBB equity partners earn >$1M. (Not referring to the title before equity partner that the firms have that often include the word partner in it (e.g., "associate partner" at McK and "partner" at BCG)
MC1: BCG’s Principal role used to take 4 years. The last two years were renamed “partner” a couple of years ago to better compete with McKinsey, but those “partners” don’t have any equity (since they’re really still principals). You get equity when you’re actually elected as a “partner and managing director” after four years.
Pro
I actually think $500k is more the associate partner level (comparable to a senior manager at Accenture or big 4) at least in nyc. My understanding is an AP makes $300k with a 50% bonus or so.
Full fledged partners i would have thought closer to a million.
A1, the firms operate fundamentally differently. Our partners also don’t have explicit sales targets, so that’s not a great point to compare. APs and Partners both fulfill engagement director roles on studies.
APs get profit sharing and will clear 350-500k+. That’s a position you get 3-5 years post-MBA on the integrative track.
We also don’t track hours for individuals or pass through our costs to clients. Comparing roles across firms at this detailed of a level is difficult because you could also easily say there’s no equivalent to our associate because our associates don’t track and bill hours individually whereas most other consulting firms do.
Edit: We also don’t do bonuses as a % of base comp and we pay the same across all cities in the US. So again, very difficult for a detailed apples to apples comparison.
1. Yes
2. Tech (RSUs add up)
Pro
Although OP’s statement isn’t wrong, first year partner comp is higher than $500k as well.
Rising Star
VP and higher at F500 too
I am a Sr D at a top 10 Biopharma. My RSU grant target is in the neighborhood of 80-100k a year. For a complete picture - base is approx 300 and 25% bonus.
Chief
My husband is in commercial real estate
You’re correct, A1. I make waaaay less then most brokers with more then five yrs exp. But if you are a earner you will make good money as you move up. I know a few senior people, in one of the less lucrative BU’s, that make $400-500k. And they dont live in NYC of San Fran. Lol
25 yo in tech making 350K, feeling bad for the partners
Tech is far more lucrative mid / early career. Even an IC (ICT4) like in apple is making 350+ which you dont get until manager in consulting (which does happen around 25 if you join out of undergrad)
Numbers are off though. Year 1 partners in MBB generally 1+ MM cash. Senior partners quite a bit more.
Chief
Equity partners at BCG clear at least $1M in their first year. I expect this is similar at McK, though I understand our compensation is more equitable at partner level than theirs — rainmakers at McKinsey make much more than ones at BCG.
If you are min/maxing for that, it takes 10 years to reach MDP out of college, though you’d be hard pressed to find more than a handful who do that.
Sales pays well if you are good. Tech sales, consulting sales, anywhere you are negotiating 7 and 8 figure deals. I’ll make $700k this year and have 3 people on my team who will make $1M+
Chief
At comparable levels, big tech and big law pay pretty comparably.
Latest stats I saw from a few years ago said that fewer than 10% of consultants make it to partner, so it's not a given that any particular consultant will hit the partner payday.
Yes, it's true.
On an Expected Value basis IB, PE, MBB etc are all very solid. Of course there's always a lower probability of a higher payoff if you get in early in a start up that really takes off. I suppose it's all about your attitude to risk.
In addition to the industries above, lots of small business owners clearing serious cash from local businesses. Having the equity in many small distribution or service companies can be an insane wealth builder.
100%. There’s a bunch of money to be made in smaller entities.
APs make about 450k. 1st year partners are about 700. Goes up from there.
No
what’s the tc of a junior partner usually
500k (probably 6-7 years post MBA). It continues to accelerate pretty quickly too.
The money at MBB is at the partner level. Prior to that I wouldn’t say it’s all that better than the other firms and the hours are worse.
Partners should make easily over a million. But in top tech companies especially in FAANG and unicorn startups, engineers make over 700-800k easily with 10 yrs exp. In consulting you probably will make to partner in 15-18 yrs - this is best case and not everyone makes it to partner.
Typical MBB time to Partner: 7-8 years post MBA
It’s a smaller pool of people, but high performers in f500 b2b sales pull in millions and can and do pull in 6 and 7 figures from singular deals.
Agree here. I know several people even outside F500 (tech sales specifically) who can, and often do, clear 7 figures.
What other finance verticals can you surpass 500k besides IB/PE?
VC, hedge funds (probably the most lucrative if you’re good but fewer positions). Outside that you likely need to be top of the food chain to be pulling in 1M+ versus just a standard partner at the others or even pre partner in some cases.
If you are partner at MBB and the firm is not losing money you will make $1m or more a year largely driven by profit sharing. This is true within the US and outside of it as at least for McKinsey the firm is global and partners share equitably
From what I’ve heard it only levels out in all geographies at the SP level