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How long have you been with your current company? Are you fully vested in 401k / retirement/ or other benefits? If not, will you be leaving money on the table in addition to the 10 k cut? Have you compared the cost of KPMG health and other benefits to your current?
You will start as a newbie and leave behind whatever seniority you now have.
Should look at salary as a whole package so you are comparing apples to apples.
What is your typical work week now- hours worked
You have to ask yourself reasons why you want to leave.
Grass is not always greener on the other side - keep that in mind.
Happy to have you join us but think of all the factors so you don't regret your decision.
Salary cuts are tricky. As a current Total Rewards SME, and a former recruiter from industry, I can say that taking a step back in pay or title is not always bad or viewed poorly. But it does trigger a hiring managers interest. It speaks to your decision making skills, strategy, resilience. So if you do, just know why, other than a version of, “I hated my current job.” That usually will not suffice, and make your look like a person who makes emotionally charged decisions, at your own expense.
Instead of saying why not this job, ask why that job? Does it pivot you for your next big thing? Essentially is this not a step back, but rather you getting ready for your running start? What exactly about the current culture will be different with KPMG’s culture? Just beware, boomeranging is not a consultant phenomenon. When people left my company in industry in 2008, most were immediately marked as not eligible for rehire. Good luck!
Accenture2. I don’t think it’s set criteria per se. but as TRC1 said. Be a top performer or at least a solid one. Don’t cut and run. And two. Read the room. If you leave now, and it’s all pay based, I think a lot of PMDs will remember that and not be so forgiving.
Salary cut is a no go. Let the recruiter know and either they pivot or you move on. Assuming he move to the Sr. brings increased expectations and responsibilities, why take a pay cut?
Definitely not sold on the idea but I just want to get out of the toxic firm culture we have so badly...
Interview at more firms. Get the pay increase. Not worth jumping firms and not increasing your baseline.
Pro
Do not take a paycut. 100% chance you are going to be worked like a slave at KPMG and your work life balance will be much worse than at you current firm. At least make them match your current salary.
Just say no. It will prob take 2-3 years to make up that 10k reduction.
Rising Star
You want to take a pay cut to work harder and have less happiness? Brand recognition means nothing. Money talks more.
No, know your value and worth. Review your skill set, go on glassdoor see average salary at KPMG and discuss pay increase with recruiter. Don’t even think pay cut.
Depends on line of business you’re interviewing for.
Management consulting, supply chain. Currently a generalist and not 100% thrilled of the idea of aligning myself to supply chain either
Rising Star
What’s the salary the recruiter told you? And definitely no to accepting a reduction. I love the firm but not worth the step back.
Pro
Ok, that makes a lot more sense now
Thanks y’all for the feedback. I’m just so fed up with our current firms toxic culture but y’all right, should never underestimate my value 🥰
KPMG is all politics. Your promotion is dependent on who you know and who you please. Less merit and lots of kiss ass culture and even then no guarantee of bonus or promo. So be careful before jumping here for “culture”. It swings wildly from project to project.
Was in a similar situation and ended up saying no thank you to KPMG. They were paying less and said we’re a bigger company, more benefits blah blah. You have to see that for just a change in title you lose the network you built, your pay check would be less, you would be moving and given COVID it might be a while till you even get to your current salary level.
No
I would never recommend a salary cut unless you're in a toxic work environment just to get out. Honestly KPMG is a great company to work for but unless you're currently overpaid now you'll find some place to either match or pay you more.
Part of the reduction in salary is moving to a city that’s slightly lower in cost of living (Toronto to Montreal, analogous to NYC to Chicago)
Oh hey Mtl! 🙋🏼♀️
If you are so inclined to join kpmg even with paycut, then check at least if their benefits are better than your current firm. If not try to nego stating that.
End of the day, $ matters. Not the brand name.
Chief
Keep interviewing. Don’t take a pay cut.
I like KPMG, but I would not accept that offer.
Beware of title inflation. Consultant vs. Senior Consultant at different firms cannot really be compared.