Related Posts
😂 this is too real
Does anyone ever check this bowl?
McKinsey & Company How likely is McKinsey to rescind an offer if there's a recession/downturn before my start date? Received an Associate offer with a start date early in the Fall. But I'm worried about the offer being rescinded due to the ongoing McK scandals/issues and a potential recession in the making (which may prompt them to freeze hiring and/or renege offers).
Has this happened to anyone before at McKinsey, offer getting rescinded due to economic/company downturn? A bit worried
McKinsey & Company
Additional Posts in Consulting
Book recommendations for a vacation?
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.
Not if you are salaried, so majority of people on this app do not. Yes if you are hourly. It’s called exempt vs non-exempt.
Pro
You can be salaried and non-exempt. Lots of entry level positions are like structured like this.
Nope. Hence the white collar sweat shop.
Define most? Maybe most of the managers, but staff and seniors in assurance ain't paid six figures and pushed to low hourly wages in fancy buildings.
No
Not for consulting.
Not generally.
There are a few circumstances where this can happen - but it should be specified very clearly in your employment contract. But usually not a thing in major consulting companies.
... So... Who won the argument?
Some firms have overtime for analyst roles (see Accenture) but generally once you graduate from that level there is no overtime pay.
Rising Star
Federal Fair Labor Standards Act (FLSA) defines exempt/non-exempt using the following guideline:
Employees who are paid less than $23,600 per year ($455 per week) are nonexempt. (Employees who earn more than $100,000 per year are almost certainly exempt.)
Pro
They bumped it to just over $35k minimum in January 2020
Back in the day, when I started at Accenture as a 22 year old we were paid overtime as an analyst - granted a million years ago, but it was nice! I want to say they stopped the practice of OT shortly after.
I wish.....
Generally no. But there are a few exceptions like:
-You are an hourly independent contractor (instead of a salary employee) whose contract has overtime rates.
-You are an entry level analyst at Accenture.
Even if the above exceptions are true and you are eligible for overtime, you may be commanded not to bill overtime, or you will be threatened/punished if you do bill overtime.
Accenture Analysts are still eligible for overtime pay (typically only 1st year analysts).
Pro
No but I also have no overtime
Thanks everyone. Our argument is resolved!
Our partners do but we don’t :) :) :)
Lol no overtime in the US