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What’s your Alvarez & Marsal bonus this year?
Is Boston part of our Northeast? Yes, right?
🥺Want some suggestion for busy season!
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Can’t set a specific amount due to different starting salaries and areas of different COL. The question you should be asking is how long did it take you to increase your starting salary by 50%, 100%, etc.
COL city is relevant. Realize that 100,000 in the Bay Area for a family of four is literally the federal poverty line.
What's it like for a family of 2 on 1 income - is it doable?
3 full years. 4th year - started making 100+ (I transferred from one b4 to another)
A little under 4 years. Jump firms for the bump
It’s not advice. Just saying my story. I Went from mid size firm to B4, got a 27% bump, and I’m on the same trajectory. I plan on moving cities in the next year or two so I won’t benefit long term from the network/sweat-equity
5 years in, still waiting...
2 years. I left audit for a real job with better pay
Valuations
9 years.....that was more than 20 years ago.
Took 15 years into partnership for me. Started at 200k.
I read all the frustrations on FB about comp and whether it is fair or low. I'll simply say it was absolutely worth it to me and I would do it all the same way again. The rewards are beyond the money. It's a great career for me.
I worked ~5 years in another career before starting over in PA so I’ll just ignore those years.
Base salary? A few months under 5 years.
Base + bonus? A few months under 4 years.
6 years. Once you make manager.
Does that include bonus and employer contribution to retirement plans?
It depends on office and LOB.
Yeah I know. But how long did it take you?
I am JD LLM in tax. Started in 1996 and by 1998 I was making in excess of $100K.
Don’t JD/LLM start at 100k in specialty groups?
PwC2 - they start at more than that now (and have for some time). Note I started in 1996
Left for a finance role making 100k after 7 months at EY
Assurance
5
Our audit department starts new managers north of $100k. I don’t think we pay any of our seniors more than $95k. Took me a bit longer but not much when I was a manager
1 (attorney though)