{ "media_type": "text", "post_content": "How do people in industry get promoted so fast? I have friends at fortune 500s who get promoted once a year or even less. Even my younger cousin just graduated last year, and at 8 months got promoted to “customer success manager” whereas in Big 4 I’ll be in my late 20s by manager", "post_id": "5ebed843028d680020395e5b", "reply_count": 27, "vote_count": 2, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting" }

How do people in industry get promoted so fast? I have friends at fortune 500s who get promoted once a year or even less. Even my younger cousin just graduated last year, and at 8 months got promoted to “customer success manager” whereas in Big 4 I’ll be in my late 20s by manager

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Because the titles in industry are inflated, for the most part. Managers in a lot of orgs don’t even manage people and the salaries don’t match managers in consulting

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Yup can confirm on the salary bit. My friend is a Manager at a top med device firm. Only makes $120k.

Comparison is the thief of joy. However I recognize you may gain valuable context by asking this question.

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I mean I’m just curious, since big 4 has publicly available timeframe for promotions

Don’t get hung up on titles. A lot of companies know that titles help sell positions, so they might inflate them a bit. For example, I have a friend who is a Director with zero direct reports and a much lower salary than me as an SC in B4.

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Titles mean nothing without scope. Many orgs give fancy sounding titles but the scope of responsibilities may be lower than yours. Worry about yourself. Life is too short.

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Because assistant to the regional manager of Scranton is a thing

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And because everyone is a VP in banking

likefunny

Get gud

likefunny

Im just a boomer, bear with me

I mean, every other person in a bank is a Vice President, doesn’t mean they’re REALLY vice presidents...

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M1 I specifically said IB banks like Morgan middle/back office. You're quoting the salary of a typical investment banker, that is the front office

Echoing what everyone else is saying, titles mean nothing in and of themselves. I worked at one industry firm with ~17 levels between college hire and C-Suite. Senior manager was the 4th level and could be achieved 4-5 years out of undergrad there, but a SM there was absolutely nothing like consulting SM.

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Just because it's stuck in my head, here's what I remember of that particular org structure: associate, senior associate, manager, senior manager, associate director, director, senior director, managing director, executive director, VP, SVP, MVP, EVP, SMVP, SEVP, then there were two layers above SEVP before C-Suite that I can't remember the titles of. You generally didn't start getting any people management responsibilities until you hit director (during my couple years there, I was a director), possibly associate director depending on what business unit you were in. Managing director was where you started to have business unit responsibilities. VP on up had legit responsibilities, though I couldn't tell you what differentiated the 18,932,479 flavors of VP.

its like comparing a shift "manager" at mcdonalds making $9 an hours vs a private equity "analyst" making 300k a year

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I was promoted every year for 5 years straight out of college. Analyst to VP at Fortune 500. Then I left. If I had stayed there, I would still be a VP and make less. Don’t get hung up on titles.

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Manager isn't really a title to write home about in industry

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