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I was too because I came from a small liberal arts school rather than a big state school as KPMG prefers. I’m told we all even out over the years, but I’m worried about it under the current climate. Obviously I’m grateful for the job, but I was told to expect a 12-15% raise this year after a year of high performance and early consideration for a promotion. That’s on par with what others in my position received the year prior, so the figures checked out. However, the gap is likely to grow this year rather than shrink... associates who’ve been here less than a year longer already got the big bump and I’ll miss mine :(
It will not even out. I was in the same situation. Plan to leave within 2 years
Rising Star
I would talk to your partner with this kind of talk track: I love working here, and view this team as where I want to build my career. But I’m seeing a pretty significant compensation gap open up with calls I’m getting. I know things are tight right now, but I’d like to work with you to close the gap over the next 12-24 months. What do you think?
Obviously, I would wait until the dust settles from all this stuff in the near-term
The pay is similar depending on firm. One firm I’m working with is great for two professional homes. They don’t bill as many hours so bonuses are lower. Benefits of not being public or over levered.
Why do you think you were lowballed at PwC? The pay bands are so tight at the junior levels that I seriously doubt you were. If you think there is a gap of 20-25% I think it’s more likely that someone is lying about what they make or came in as an external hire with higher comp and is an outlier.
What is the average bump from analyst to senior analyst?
I am convinced I was low balled because people talk and the pay bands are not tight at all. Also I’m not with the US firm
jumping ship is the only way
Does not work that way when you are on a visa and the firm knows that very well and uses that as a leverage . There is clear discrimination based on visa status for career growth and comp.
I thought I got a big raise when I joined consulting until I realized how many hours I was working. I ended taking a pay cut instead :/
Yeah exactly. There is no such thing as a raise in consulting
Have been and am still being lowballed. I keep trying to prove myself but it still doesn't reach what I expect, making my salary below average in the industry. Jumping ship is the only way I guess
Looks like it’s time to jump ship soon
Not all of them. Quite a few firms are hiring right now
Not really the time to push the issue. Big layoffs are coming. Be lucky you have a job.
Agree thanks
I got lowballed when I joined PWC US as a inter company transfer and have always remained at the lower range even after being the top performer every year and my partner loving me for delivering on every fire drill project I was assigned.
Also being a technology consultant did not help my cause as the firm does not care if you are not working on the business/functional side
Sad story. I was a transfer as well and global mobility did nothing for me
Young consultants... Google "Kris Kross - Jump"
There's your answer. We all had to do it. Jump around until you get as close as possible to market value and consummate with your experience and contribution to the P&L
I came in low having transferred from audit to consulting at a time when the firm wasn’t making comp adjustments for transferees. I remained low for 3 years until the next promo level and I had proven my worth and found a mentor with political capital. I got a $35k comp adjustment outside of the normal year end process. The key is building your brand and your relationships to have someone powerful make the ask for you. An average employee will never get adjusted because they don’t care if you leave.
I was also low balled - when it came time for promo, I simply made the case on why I deserved a higher than usual increase and was fairly candid that I knew I wasn’t in the same pay band to bolster that argument - I gave a number that was not entirely outrageous (i.e more towards lower level of band) to justify the % increase to leadership. Got approved. While this worked for me - may not work for everyone. Feel free to DM me and Ill share a tactic that helped me a ton as well
It’s not. And I would never initiate it without another offer in hand. Post-promo would be better for sure.
Also remember, you only get to go to the well once.
I discussed with My manager, they took it up the chain of command, and I was told to wait six months. Instead of waiting, I found a new job
I was high balled and then black balled. It's all lead to blue balls.
I see that makes sense thanks. You are right if I don’t ask I will not get it. My partner loves me and makes a lot of money off my delivery
Thread lightly. I have seen this happen and the answer is always the same...that you accepted the offer made to you. No renegotiation. That has been my experience with this topic (coachees, peers, jr staff).
Yes, and I’m working on it, idk how well it’s going tho
Good luck!
Came in at the absolute bottom. Proved my value. Got another offer. Paid to stay
Second this - always good to have an offer before going to the PPMDs. I was low balled when I started - the partners said there would be adjustment a year later but nothing happened till I got offers for them to take it seriously. For a lack of good term they kept jerking me around for a year saying it’ll happen at the year end and then at year end they said they’d missed my name and that they didn’t do mid year adjustments. Luckily I’d prepared for the worst case scenario had 2 offers in hand!
This was during my last job at uncle D!
That’s true. I don’t mind the long hours given my age right now and the learning curve but getting the right compensation compared to peers seems to be motivating . Money is never everything though
I quit and joined industry. Have more than recovered what I lost.