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Hi fishes! I had asked for benefits other than CTC which Bank of America provides & now that I've completed 1 month here, here's the list of allowances you'll be getting irrespective of position/band:
1. Sodexo: 1300 p.m./ 15,600 p.a.
2. Transport allowance: 900 one way, 1800 two ways p.m./ 21,600 p.a.
3. Internet: 1500 max p.m. (other than that, one time installation charges)
4. Tuition fee: Any certification related to your field. Like CFA, FRM etc. 3,00,000 p.a.
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Guys there’s this boot camp that I came across that trains people to get jobs in Top consulting firms and has a fee plan wherein you pay once you get placed. I just wanted to know if someone here has any experience with this ?
https://docs.google.com/spreadsheets/d/e/2PACX-1vQuKa3k-rG3emxJcfbidCjC0Su85E_BKqW9cTeFZMY4xg4LnUVxOLrpcETqf7d-iEePlFh6lJ1knwwD/pubhtml
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That's close enough to a standard promo bump. Shouldn't be an issue. Now when I had conversations about 50% bump to adjust to market, that went down like a lead balloon. No promo, and a 5% bump. Left for another firm to get market.
Are you in Advisory? If not you should ask for way more. New Hire BAs are getting $80K base in Fall 2019.
I'm in consulting and I'm worried about asking for too much and that be an issue and have the opposite effect. I think asking for 10% (7k) market rate adjustment might be a push as it is given I'm already way behind
Has anyone had one of these talks and any advice on what to say and how to frame minus I've done my research I'm behind the market etc etc?
What I heard as the justification was "we want people who want to be Deloitte"... In other words, the brand needs to be more important to you than fair market compensation. If you make PPMD you'll be doing just fine in the long run (lagging far behind industry, then steep growth as a PPMD), easily having an overall significantly higher gross comp over the rest of your life than in Industry.
That said, the number of PPMDs is small, and they just reduced the need again. I heard talk of introducing a new level above SM to slow advancement while maintaining the up or out model. Hasn't been implemented, but makes a lot of sense.