Related Posts
What is first year partner compensation?
Visual Storyteller
Rising Star
Pro
What are Fdd Director salaries at KPMG?
More Posts
Do you have a prenup? What does it involve?
If you’re white like me it’s so important to realize that we were raised in a society where institutionalized racism is normalized, and we were born with privilege. You can’t choose the color of your skin, but you can choose to put ego aside and reflect on why this isn’t happening to me, and be vocal about being anti-racist.
Bowl Leader
Additional Posts in Consulting Exit Opportunities
Enthusiast
Community Builder
Community Builder
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.
Mentor
I'm looking at things differently but I think you are looking at about a 52.5% pay increase even after EY's pay increase.
Let me explain
Currently salary - $130,000
New job salary - $130,000 x 1.42 = $184,600
EY after pay increase - $130,000 x 1.21 = $157,300
Average work week in new job = 40 hrs
= $184,600 ÷ 2080 (52 weeks x 40 hrs per week) = $88.75 hourly wage
Average work week at EY = 52 hours
= $157,300 ÷ 2704 (52 weeks x 52 hour work weeks) = $58.17 hour wage
$30.58 ÷ $58.17 = 52.5% pay improvement.
My estimates for your current salary are made up...but you get the point.
Now let's talk about something else.
1. Do you expect to learn more at EY. Is what you expect to learn really worth the opportunity cost
2. Do you realize that the average person to leave consulting makes the biggest roi jump at manager..not other levels (my observation on 15+ years in consulting)
3. You can make the numbers more accurate by adding in pto but even then you will probably still be looking at at a big pay increase w your new place.
Finally.....you are about to have a 2nd child...you have world hard to be able to spend time with your kids. Bow out and enjoy the fruits of your labor
Thanks a lot G1! Very accurate even with the actual numbers. Definitely outs it in perspective. I have actually never thought of it this way, to the hour wage.
And you're right about points 1 to 3 too. I will continue to learn at EY but ill be learning something new in industry too. I have also heard about exiting at Manager level vs any other esp SM.
And although EY has unlimited PTO, I personally have taken less than I would have and I'm sure ill actually be able to take the 3 weeks PTO in industry.
Appreciate your response, thank you! Im at peace with leaving now.. And looking forward to a longer parental leave and actually spending time with baby 1 and hopefully 2!
Leave now!! EY is paying now coz there are less people and they are afraid people are gonna leave. But, next year might not be like this! Next year, they’ll have more people and they might let people like us go coz we are costing the firm more money. Also, remember how we felt last year? We didn’t know when and how we were gonna be put on pip and fired. Just leave, if you love your team maybe boomerang after a while.
Thanks! Love my team and will definitely keep the relationship and door open to boomerang. But seriously doubt I will. Even if I get bored like people have cautioned, I'll rather fill time up with family time and hobbies!
Mentor
Your being short sighted by only considering one variable in two very different offers
Totally agree! The practice development, business development and admin stuff in addition to client engagement makes it feel like 2 jobs!
The thing to ask yourself; if your main objective with leaving was better comp, what do you see your comp being in 5 years at EY vs the industry gig? Which is more? I appreciate that with firms like EY, it has a pretty clear career trajectory whereas it gets murky with industry roles.
Comp was one of the reasons but WLB and actual work more importantly. I will miss the clear progression in consulting though. But I also don't like sales and the SM -> Partner grind is HARD (and frankly not something I want to do)
Are you leaving consulting for industry for $ or for other reasons?
Great point on parental leave! I checked and there's no condition on tenure.
What aligns better with your mid to long term career goals
Leave