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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
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.
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.
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.
Because assistant to the regional manager of Scranton is a thing
And because everyone is a VP in banking
Get gud
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...
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.
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
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.
Manager isn't really a title to write home about in industry