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Left public as Manager ( ignore current title above; hasn't updated) for an Industry position and 50% increase in compensation. Best decision of my life. You don't realize how much work impacts your life until you're not as busy and that ends up being the norm. If you regret it, public accounting will always take you back but I don't regret my decision. Think of it thing way, at 30% you'll probably need another 2 yrs to get that so you have until then to come back to public.
If I ever get bored or need another boost in salary, I may consider finding another industry job. I'm honestly enjoying all the down time normal people have in industry. One thing to be aware of is that industry in REALLY SLOW in comparison with public so that may need time to get use to and sad part is that it feels really wrong initially. If I ever want to go back into that hectic lifestyle, public will always need people and I have a couple years to decide that based on my compensation increase. Honest opinion is take the jump and if you don't like it just go back. You'll likely get a match, another jump, or a better title at your firm.
I’d rather be an IA Manager at one company for more money than have to be an IA Manager for multiple companies with billable hour expectations and less money.
30% now and then 4% for the rest of your life if you're lucky. Stay on the escalator if you don't hate your life. Or get the offer to negotiate a raise at kpmg.
I'll potentially negotiate. I did that about 2.5 years ago and was glad I stayed put. I almost feel like I'm settling in my current role and don't look forward to the salesperson aspect of being a director
Honestly depends on your salary. What are you currently at?
Honestly not worth it imo. You’ll be at 180k TC EASILY as a director and your future earnings as a potential partner will blow the new positions out the water.
I left KPMG as an IA Senior last year for a 40% bump - however, I left for a consulting firm (so still in the public accounting realm) which has the same progression speed/structure as B4 (unlike industry, which typically moves slower). Like you said, there will never be a perfect time - I definitely mulled over staying vs leaving for a good while. But in the end, those who jump around often outpace those who don't in terms of salary, and any 30%+ increase is worth leaving for (all other factors notwithstanding) in my opinion.
If you want to stay in client service, maybe shop around for a consulting gig instead? If partner is the goal, perhaps staying at KPMG is best? If you want to go for the job you've secured, then 30% is nothing to scoff at!
Happy to help and bounce ideas around with you, best of luck no matter what you choose!
Totally valid, my last SM at KPMG left at the same time as me for a Director position at one of our clients - he mentioned a lot of the same things that you're saying here. He's loving the WLB and ease of industry nowadays! My last TRM Director made a similar move and is also enjoying the low stress environment, after running themselves ragged for years. Your health and quality of life is > any possible comp increase, I say go for it if you've got a good feeling!
Why were you interviewing in the first place? If it was because you wanted more WLB then 100% jump. If you wanted more money, then I'd lean more towards staying. In industry you can bounce around for more $$$ but bouncing for higher titles can be harder and 180k tc is high for an IA manager unless a lot of it is stock
It was for the comp to be honest. Would be going from around 140 total to 180 total
What's your current salary if you don't mind me asking? You still have the chance to get higher pay at KPMG or even get promoted. But it really depends on your goals.
Current comp is around 140 including bonus. I don't think I'll enjoy being a salesperson, going out winning new clients as a director. I could go for that promotion, but I just don't see myself liking it
Hi! How about you aim for a promotion? Well, that if you still want to stay at KPMG.