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Alvarez & Marsal How does comp work at Alvarez & Marsal? I know bonus is based on utilization / collections, but how does that really work when you're executing against a SOW with a certain amount of hours budgeted. If I'm only budgeted at 70%, how do you increase your utilization to increase your bonus.
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Woah I had the EXACT same situation but transferring from risk advisory to consulting right at year end.... I found out after second year end I was at the VERY bottom of range (partner in previous group gave me just enough raise to push me into bracket). It makes sense cuz why use the money he was given to someone leaving his practice?
I was making less than new hires and I brought it up to my SPML / service lead.. he was very open and receptive and ended up receiving near 20% base adjustment come year end... from my understanding I'm still a bit on the low end but it does appear that if you have good leadership like I am lucky to have now, they will work with you.
That said, I don't know what service line you're in... if you switched to MC from Audit you're probably well underpaid on same salary... if you switched to IT Audit or something you're probably not too bad... I would assume Deal is often paid well above Audit as well (maybe with the exception of AAS being less than some other deal groups?)
@k1 how did you bring it up with your spml and service leader? Email? Set up a call? Sounds nerve wrecking but I also need to do this.
I have a feeling I may be at the very low end of the bracket, if even in the bracket at all. I transferred mid-FY too so I may get screwed for variable comp/raises this year as well. I'm just wanting to know what the starting base is for my group (MC) and range for associates so I can be prepared for comp talk. Would not be fair if starting base for new hires is higher than what I'm currently getting as "experienced". Any idea what starting base for MC in NYC?
Idk for New York but I would take a guess that the very bottom of bracket is low to mid 60s.. keep in mind these brackets are large and new hires are not even hired at the bottom...
I'm in the low 70s. Low 60s is extremely low for NYC
@k2 I brought it up in person when discussing progress but if not possible a phone call to do the same would be fine I'm sure. It's a difficult thing because they don't want to lose you, but at the same time they don't have 100% control over comp. especially difficult in situations of transferring because they don't have full visibility of comp before your transfer, and once you are transferred in (assuming you're now underpaid compared to peers) they have to fight to get more $ in the bucket to pass to you... HR doesn't even deny this issue. Their response is that it usually takes a couple cycles to even out...
Yeah like I said I have zero idea on brackets in NYC... all I know is some of these brackets span like 60k (senior almost does from what I've been told)
What service line did you transfer in from?
I transferred from tax 😂 (It's a long story.) I'm pretty sure I'm the only person to ever make that move so holla @ anyone who now knows who I am!
Well I make 79k as a senior. Going on year 2. Hopefully I hit upper 80s low 90s this year. Otherwise I'm out 😫
@k2 where are you based? Fingers crossed for you come FYE. I think I'm going to have a talk with my PML soon
Atl
@k2 I'm up for SA1 this year and from the looks of it I wouldn't be surprised if I'm in the same bout as you AT year 2 less I see an equally surprising YE with promo as I did without... would hate to leave.. but... those transfers can screw you
Boat *
@k1 whata ur current base
63 I was very under when i transferred and moved to a higher col city... still hasn't been completely brought up to my understanding and from what I know (sounds like I'm a year to year.5 behind still), but willing to see if this YE fixes it since I actually love my job now which is a new feeling to me.
To avoid pin pointing myself exactly (although I nearly have haha) I am not in a COL like NYC at all... but nonetheless would be interested in hearing your input on what I should stay vs leave for considering I am extremely satisfied with everything else OTHER than comp
Just wait it out. I am. If not satisfied leave after YE
Yeah that's the plan. At the very end of the day I would rather a comp issue on a job I enjoy than no comp issue in a that makes me miserable