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Hi Fishes, Could you please provide your opinions regarding interview bootcamps for FAANG companies and if one should join or not. Also which Bootcampis better - InterviewKickstart or Tech interview pro or Outco. Any suggestions areappreciated. Google Microsoft Apple Netflix Deloitte EY PwC Adobe Paytm Airbnb Facebook (Meta)
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Sure A1. There are levels within the Ranks of MD that aren’t very visible based on title. When a Sr Mgr gets promoted to MD, they are given a set of restricted stock that will vest after 5 years. There is also a requirement for them to hold half of their base salary in stock after 5 years. If an MD is promoted, or is hired in at a higher level (L3 MD, L2, etc), then they need a higher multiple of their base salary in stock because of the much larger impact and responsibility they have on Accenture’s results. Ask your project MD out to lunch and ask away —- though please know I wouldn’t expect them to know all the details of the various percentages by level, in that it is just not really a top of mind concern and I am sure the structures shift over time (e.g. the $ value of stock I was awarded when promoted is probably different now). For employees genuinely interested in considering exploring an MD career path... most MDs I know will find time for lunch and hopefully can help you with advice in other areas then equity holding requirements while we are at it.
The ranks are perfectly visible. Look on an MDs page on people.accenture.com. Their title Executive, Senior Executive, director, senior director (from memory) maps to CL4->1. Take a look and plug in a few MDs you know and it’s obvious.
L4: 0.5x ; L3:1.0x; L2: 2x L1: 6x... but with performance equity, VEIP, and celebration equity, it is rarely an issue.
As it has been explained to me, it starts at a lower multiple and increases with time. Accenture wants to encourage MDs to maximize equity to align their personal financial objectives with the firm's.
You have five years to get to that level
P1, what happens if you don't make it in 5 years? Is there a sure fire way to still get there?
My understanding is most MDs get a restricted award upon promotion or when coming in from the outside which basically covers it when it vests in five years.
I turned down an offer last year for a CL2 role but as I did the calculations around what the equity portion of my signing bonus, what I would likely accumulate over five years from the equity component of the annual bonus, and the ESOP, it wasn’t going to be even a slight issue.
For the majority it’s not double your base —- it’s half. For a smaller number it’s 1x. A smaller number 1.5x and so on and so forth. I’ve never heard anyone complain or gripe about an ability to maintain the equity requirements.
MD1 > I don't understand at all. Can you please take a small step back and provide context? Double the base? Half? Ugh. I wish someone would explain.
It depends upon what level MD you are. CL1, CL2, etc. Higher amounts closer to CL1
My coach said that once I’m an experienced SM with eyes on MD, they’ll spill the exact beans. It’s a competition issue to be too loose lipped I guess.