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Average YOY raise in Industry vs. Consulting? I
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I mean I still make more per hour than most of my colleagues in finance, pretty happy about that
I think this is a lie consultants tell themselves. On average the pay massively grows relative to hours and hours do improve a bunch when you move up in finance (IBD).
However, the real sweet spot isn’t IB, it’s the other ones that make a ton aka consulting comparable and have limited work.
You can get there, just keep climbing. My bonus was 60% this year. Two years ago it was like 20%!
Those bonuses are possible at A&M
IB is like bad sex. It feels really good when the bonus hits. But then it’s depressing / lonely the rest of the time when you’re canceling plans all the time and struggling to maintain relationships / friendships, date, etc.
Mentor
Bad analogy - sex is like pizza, even when it’s bad it’s good. This just sounds like a 1 day nut followed by 364 days of post nut clarity.
Bonuses are taxed at 50% so feel better about that.
Withholding is more like 60% and then taxed as ordinary income
Coach
My friend at Centerview made ~200k TC (base + bonus) plus 50k signing as a first year analyst 🤷🏻♀️