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I've heard pharma pays well. Is it true?
Received an offer as Engagement Director from Salesforce (CSG, pre sales, L9). Great benefits package, 40% increase in total comp and better WLB.
I do love the people in my practice and current client, but career trajectory has stalled after taking parental leave earlier this year and (yet another) change in leadership.
Realistically, making to Director is 2-3 years away and will require sacrificing time with my family that I am not prepared to give up.
Should I stay or should I go?
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The way I think about it is that we spike in certain industries where we are generally on par with MBB. I’d say most of our projects involve bidding against at least one of MBB. What people don’t realize is how young of a firm we are comparatively speaking. We have growing pains and can’t match on all levels for comp (it’s on par with MBB at lower levels, drops as you get into mid manager roles but the firm is working pretty aggressively to close that gap). Wouldn’t say we are on par or are particularly close to being on par on all levels, but I think most people would describe us as the overall #4 (although I’m sure Kearney would disagree). Happy to answer any specific questions.
In Middle East, we’re definitely above Bain and probably on par with McK (and Kearney). BCG is still on top, but we’re definitely much more of a leader here.
In FS we are definitely on par with McK, and ahead of BCG and Bain on most topics. Our CAVOK brand is also likely the best in the aviation industry by far. Generally not as competitive in other industries (depending on geographies). Comp is generally on par/higher than MBB for entry levels and lower in the Engagement Manager and Principal levels, though total comp depends on how fast you get promoted as there is technically no bonus ceiling. For me I definitely got paid a lot higher than MBB folks of comparable level/progression.
Can only subscribe to some of the stuff that’s been said here: we’re killing it in Middle East, where I think only bcg is stronger (?), CAVOK is the bomb and I’d argue Harbor is also not too bad (engineering/Technical problem solving) but probably more localized (eg France, Germany, us). In terms of practices, I hear FS is #1 in UK and generally very competitive in all markets (not FS myself). In Consumer / industrials Germany we are often going against MBB and sometimes winning. It’s definitely not the price points, as MBB hired some boutiques with ridiculous daily rates which we can’t match. And unfortunately it’s also not the overall prestige, as we’re def not as well known as MBB. But I think for some areas we are well recognized as delivering high quality work and for that often to go to company. In my opinion we are often ranked above Bain in these areas, but I think that’s also because there’s virtually no overlap with Bain there, so can’t say how that reflects on the overall situation.
T2 if I'm not mistaken and MBB is T1 obviously
We are not close. No one in tier 2 is.
And that’s okay.
Thanks D1 , just to clarify the question, I’ve heard OW’s making effort / claim that they are trying to catch up with MBB with some results. And they consider MBB as peers and main competitor. Not sure how true is that in terms of sector perception?
Every consulting firm that isn’t MBB has a well thought out pitch about how they’re gaining share on MBB and why they don’t consider big 4/T2 firms to truly be their competitors
OW competes relatively on par in financial services (~90% there), although at a reasonably lower price point. Not really that close on anything else. Not to say that they're not a great shop but that's really the only meaningful spike that MBB would notice and have any sort of pause about going into a pitch against.
Historically OW has been more expensive than MBB in financial services and healthcare and less expensive in rest of areas.
Regarding quality, I’d argue that in Europe competing head to head with MBB in every pitch (I have the perception that not the same position in the US)