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Hi all. I am trying to determine if I am being compensated fairly. I am a tax manager (about to start my second year as manager) and have been with EY since staff 1. I was promoted to manager in June 2020 (during covid) and received a 7.5% raise. The class above me has mentioned they received much higher raises during their promotion years. My base salary is now approx. 97K. Any insights would be extremely helpful. Thanks!
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How is job security in PwC India?
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McKinsey & Company Has any industry experienced candidates pivot to MBB Engagement Manager before? My roommate works at FAANG as Senior Analyst (Ops, 6+ YOE) and was approached by McKinsey & Company recruiter for an EM role. He hasn’t done consulting before. Would this be too much of a risk? His goal is to pivot to PE S&O eventually.
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Rising Star
It's a negotiation powered dynamic. If they know you were laid off, they have all the negotiating power and in a buyer's market have plenty of options if you walk away. It really comes down to how bad you want the job and whether you can walk away.
A buddy at another consulting firm leads recruitment for his practice. They recently posted a few openings at sr and mgr levels. He said usually they see a hundred or so applications come in, of which about a dozen are high quality candidates. For these roles, he had nearly a thousand applicants per role just within the first 3 days and most appeared to be very qualified or over qualified.
Its rough out there so you might need to just accept whatever is offered or risk being out of work a long time.
Rising Star
I’m really not trying to sound harsh I really would like to just be helpful. You were laid off as a senior consultant and the firm that you’re looking at could be wondering if you were actually performing well at that level, hence the layoff. Maybe they want to bring you in a level below to give you a chance to thrive and grow before putting you into a role that could be beyond your skill set.
Also depends what you call a “comparable consulting firm”
Pro
Speak to Sm or MD and not HR. Explain to them giving your points. They should understand, I did the same thing.
Yeah, I would push (no harm in trying) but also realise it's the buyer's market rn. If they're not giving you the level, try and close the pay cut gap.
You could negotiate MAL or months at level. Make sure the recruiter states how much MAL credit they’re willing to give you, that way during performance review, they’ll see that although you have maybe 6 months on internally, you have 24+ MAL overall, hopefully speeding you up to the next level.
Pro
If you share the firms that may help. Some firms SC is equivalent to C and vice versa
Pro
Agree with others on here, seems C would be appropriate based on experience. Just be sure to negotiate time at level/progression points
Sounds like they want you to redo your staff year before promotion to senior? Edit: sorry didn't see the experience at level part. What levels? It matters because it will be harder at higher levels to negotiate this.
Was an SC, being offered a C role
Is the pay comparable as well?
10% pay cut :/
Still on the Deloitte payroll through August, so did not share that it was a layoff, rather looking for a new opportunity
Pro
What’s your case for M at Accenture?