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Scenario 1) You exit in 2 years - better higher paying exit ops, + performance bonuses at MBB make McK the better choice.
Scenario 2) You stay in consulting for the long term - salary climbs MUCH higher and faster than Big 4, McK still the better choice
Given the step down in title, I would do it if you want to be in consulting until partner. McK will have a better comp in the long run. If you want to leave consulting though, keep the manager title and look at industry instead
I agree with D1. The title will help you in the exit opportunities … mck might help you if you want to exit to strategy roles but other than that won’t be different from big 4 exits
I think the benefit of having McK on your resume and the exit ops it brings outweigh the pay cut.
On average it takes 2.5 years to be promoted to Engagement Manager, but people with consulting experience usually takes 1.5-2 years. Assume you have good performance, your comp will increase by 25% YoY. You can hit $300K TC in 3 years
Rising Star
East and west , McK is the best ! Hurry up and join 🤣😂
The loss of title is more of a concern than the pay cut IMO since it limits your exit ops and effectively limits your opportunities to leave.
Mind sharing what work you currently do? If it’s in super high demand then maybe the title doesn’t matter. If you’re a generalist consultant then I’d be concerned.
That's what worries me too, loss of title. I do SAP right now (hope it's not too generic). Goal is to move up (either in consulting or industry).
The year end bonus is not going to be 100% FYI. But you will be changing the roles you’ll be playing. And the brand name will be useful
Bestplaces.net cost of living calculator is pretty eye-opening regarding these big life decisions.
Thanks for the inputs all! Really helpful info!