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Community Builder
So are analyst getting a bonus this year?
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What should I do to get myself fired?
Is a HRPB higher than an HR manager ?
Pro
It's finally here! 🍾🎉 Ok, maybe I'm a little more excited than I should be - but my article, Top 10 Predictors of Federal Employee Job Satisfaction, has been featured in IPMA-HR's HR News Magazine!
The September issue's article is the first in a two-part series that examines OPM's 2019 and 2021 FEVS data, respectively, to predict Federal Employee job satisfaction pre- and post- pandemic.
https://www.ipma-hr.org/stay-informed/hr-news-issues/hr-news-article/top-10-predictors-of-federal-employee-job-satisfaction
Rising Star
Different comp models. You need to look at all cash vs RSU vesting over 3-4 years and basically do a cash flow analyses, potential stock appreciation, taxation treatment etc
Regardless I think everyone in this bowl is doing alright
Selection bias. Lower base comp but then huge contingent bonus and stock. You only hear from your friends who made it. Not the ones who took a bath.
In my case much higher base comp - all situations are different - wouldn’t generalize
Partner comp is designed to be very good, but never amazing. Public companies start to skew the pay ratio significantly. Accentures CEO is at $33m and level below that is at $11m for instance. That is probably 3-4x highest paid partners at other firms. When you go to industry anywhere, if you can be in the top 15-20 people you will almost certainly do better. So to your point, on average it is much better than industry but not always if you can be at the top.
Also, do these figures extend to Accenture Strategy as well?
I’m somewhat opposite of you OP. Started off young in consulting then moved to pharma for almost two decades. Bounced back and forth between pharma and consulting since then.
It’s obvious, but the top of the top pays way more in industry than consulting. It’s not even close. But even CEO-1 and -2 often pays much more than consulting, particularly in certain sectors.
I posted the other day, a SVP at Mirati made $4.3M in 2021. Mirati is small beans compared to other pharma companies.
Some consulting lifers also think that only F50 execs make big $$$. But not true. There’s a bundle to go around in small firms and even private firms.
Consulting = a more straight forward path to good $$$
Industry = often a windy path with ups and downs but can result in massive $$$
Subject Expert
I would think there are around 15,000 Big 4 partners alone.
Again, there will always be the “I know (or am) a guy who…” examples, but they’re uncommon. Those big comp packages ain’t falling off trees or being given away.
I’ve only been in consulting, so take this with a grain of salt.
For me, consulting partnership has been about hitting doubles fairly consistently. I know I won’t make huge money but still very good money. Industry is about hitting home runs with a high chance of strike outs. What if the company stock doesn’t take off or I don’t do as well in any new role and new environment? Or my hiring champion leaves soon after?
I’ve chosen the slower but safer approach, at least for now. Several more years and I may look at it differently
I get it. I trust I’d land fine. But it’s the opportunity cost for me. I have to give up my ~$2M/year cash income and a $500K per year Big4 pension, for about $1M cash and a home run on stock options.
Slow and steady here …
Yes you can make more in SVP roles. You should also take turnover into account. SVP turnover can be high and they get significant stock comp that takes time to vest so consider the full calculation. Still sometimes better but if it always was partner turnover would be higher than it is.
The reality is most MDPs can’t go straight to a SVP role at a large company in industry (except sometimes for niche roles like strategy or transformation). At a certain point the skill sets are different.
Coach
I know one who left for a very lucrative role in industry, but that’s really the only one. I know of others who went to industry and then boomeranged back. I think there are some great opportunities in industry, but they seem to very, very rare and not available to most of us.
Yup consulting isn’t what it used to be versus industry
I am starting a VP role in biopharma and will be netting more in TC than my current partner role.
It nets out about 10-20% more but given the variation in tax liability due to RSUs it will likely be a bit more than that - not multiples like others have mentioned but worth it to get out of the ‘eat what you kill’ annual grind / hamster wheel at least for a bit and the opportunity to unlock new skills and doors - I looked around at partners that have been at my firm for 20 yrs and they are making same money and doing same projects they were doing when they first entered partnership and realized staying longer wasn’t going to enable career growth in any meaningful capacity - I am sure other firms offer more than what mine does for more senior partners, but for where I am, that’s the deal. Also, the original equity partners sold to PE before I was promoted to partner, so no long term, big payout or pension holding me back
What’s ur comp and what’s theirs?
CEO of a private equity portco - even a $200M one - could be much much more rewarding
KPMG 😀🤦🏻♂️
My parents use emojis more than I do so that’s prob a senior partner there
Don’t forget our deferred comp in the way of pensions.
Curious for those partner who left before September distribution, how do they settle the balances with the firm .
Same
I look at this as a net positive — finally we have more lucrative career paths outside of Wall St.
F
RSUs can be great or not so great. I am in O&G and it has been a roller coaster ride for sure for those folks
I see *some* top industry MDs who have c-suite titles at 2X my income but not the click below, SVP/EVP. (I suspect OP is not yet a partner and is panicking about comp).