{ "media_type": "text", "post_content": "How do people go into consulting out of college and NOT ever break 250k? It seems inevitable if you stay or just get a half decent exit. Not sure why everyone here complains about how hard it is to save", "post_id": "6242594afc814b002ce4d590", "reply_count": 38, "vote_count": 9, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting", "feed_type": "crowd" }
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How do people go into consulting out of college and NOT ever break 250k? It seems inevitable if you stay or just get a half decent exit. Not sure why everyone here complains about how hard it is to save

likefunnyupliftinghelpful
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I’ve always wondered this, apart from big tech/medicine/law/entrepreneurs I rarely see people even think they’ll ever touch $250k a year yet I know people that have worked jobs for 15+ yrs at places I’ve interned and they haven’t came even close to $150k.

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Also once you’re no longer in analyst/associate type recent hire positions, consulting becomes pretty political to keep moving forward. MBB and T2 firms are mostly up or out so a failure to gain enough traction means you know you’re getting laid off pretty soon

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M2 I have heard that industry is a lot more political than consulting but I've had a rough start at the Firm for political reasons soo

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You are a tool

likefunnyupliftingsmarthelpful

Because half of Consulting requires you to hit PPMD level to breach 250k or more.

Also, if you're living in a city like NYC or SF it becomes harder for sure with the COL.

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Maybe now after covid... I was SM at PwC and my salary was $160K with 10 YOE. Bonus brought it closer to 200, but definitely nowhere near 250. Minority here and was definitely underpaid which is why I left to KPMG.

The tone deaf Data Scientist strikes again! Go to therapy already

likesmart

My first job out of MBA with LEK was already a good amount over $250K

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Hours are generally in line with MBB but much more front-loaded towards the week. I work 12-15 hours the first three days of the week and then 10 or so Thursday and Friday.

We charge clients significantly less than MBB to be sure, but I’ve noticed we’re essentially on par with what I see EYP charge, among other competitors. We have less overhead and run leaner/efficiently/push harder as a firm which is why pay is high. Early partners are paid well here.

The only roles here that I would say are paid less than MBB are A1s, A2s, and very senior partners. Every other role we pay better.

I was a director over payroll consultants for hcm implementations, last year in that line of business was 2020.
Aside from legal and c-suite, I can count on one hand the number of salaries I saw over 200k.

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Right….

Well, is this in reference to an individuals salary or HHI?

From the individual standpoint, I can see how people don’t, there aren’t many positions out there paying that much without dedicating a lot of time to their career and some people just don’t want that.

As for HHI, yeah it doesn’t make sense to me, assuming that it is not a single income household.

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Hurr Durr

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In a non-strategy role it would likely take no less than 8 years. Most people don’t stay in consulting that long.

You join with Accenture 🙃

Doesn't entry level Accenture start at like 100k now?

In a T1 city, probably. Varies by group and geography.

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