Related Posts
Community Builder
More Posts
What careers pay the best in the Uk?
What is EBA IN Bosch?
I am on Bench for the past 2 months in
IBM and I got 2 interview calls but it doesn't suite my profile/requirement and my band is 6B And how many calls I can attend in IBM ? Can I wait for some more time or shall I look for other opportunities? is IBM bench is safe now a days ? IBM Tata Consultancy Infosys Accenture
Pro
Additional Posts in Consulting
Hello! Anyone work at GE Healthcare?
Can anyone provide a referral to Accenture?
Home sweet Westin
Where should I go for dinner?
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.
Already planning your next exit
LOL
Who cares as long as you’re happy and making money ? Only partners and execs get married to their firm and renew their vows every year
Chief
There’s a simple reality here: jumping ship often increases your earnings in the short term but tends to drastically reduce them in the long term.
Consulting partners stay in part because they understand that reality (I also happen to really like this job). I’ll make almost $50M in lifetime earnings at my firm. Is a $15k bump now worth giving up the chance of making that later? I can’t answer that for you, but that’s the calculation you should be thinking about as a consultant.
Maybe 3 years but as a hiring manager I would want to see 4-5 years. At that point it would negate the job hopping earlier in your career, for me anyway. Everyone will be different though and it would still be in the back of my mind.
We don't live in Japan, be loyal to yourself and make your own path.
Who cares, this is how I moved from federal government internal audit to financial services management consulting. Now I have recruiters from Oliver wyman reaching out so could even be job #5
Chief
I’m on 5 jobs in 4 years and tbh if a manager perceives me as a flight risk and doesn’t want to hire me for that reason, good. I can pretty clearly explain why I left each job and the one I stayed at for 2/4 years was a good fit for me. I think the whole idea of having people stay at jobs for 5 years or longer is unrealistic, I would expect and encourage people who report to me to leave after 2-3 years max because the salary bump really only happens if you leave. So I probably won’t get along with someone who is looking for a person who isn’t a “flight risk”.
You should be loyal to yourself. Its a 2 way road. One side is us doing our best in our jobs and the other side is the company need to make efforts to retain talent. And its not by just keep saying all the buzz words around that they are doing so. As an immigrant me myself had to keep switching jobs so that I reach the min market range salary faster as I was underpay all the time working at big companies with a D&I flag in their hand! I still getting offers even after few month of starting with the new company.
It depends on if your goal is to be a partner or not and also how you want to design your path toward it. I personaly would like to gain the expertise needed and use that as my elevator to higher level instead of staying somewhere 10 year and organicly grow in the hierarchy. Moving around also deepen your expertise as you will access other businesses tools and data.its not always about making 10x more however one can easily plan for it and make it happen.
Chief
5-10, realistically
3-5 years
Chief
It matters more at senior levels. Once you’re a SM level or above you need to stay longer
Perhaps look to make an intracompany move next time. Salary bump will be smaller but you will improve longevity.
Also, Partner 2 makes very good points. Doesn’t “always” hold up, but it holds up pretty well
Chief
4-5 moves and consultant level? Help explain this to me- did you do a bunch of laterals?
As a hiring manager I’d want 5 years with your current company. This feels like a track record of job hopping and I’d want to see you move past that stage to give you consideration
Same. As a manager with a team of 8 staff/seniors and desperately needing more resources, I have rejected proposed resources as they only stated 1-2 years in a company, hopped 3 times in 4 years. My company would have been their 4th job.
I'll be spending more time coaching them only for them to leave next year. That won't be a good investment and will rather impact the project negatively.
Also as companies by law can't talk about performance, I'll question whether they hopped due to career growth or were placed on PIP each time.
Partner 1 and Partner 2, you're right about the possible tradeoff of a small salary increase now vs the potential payoff of reaching and staying Partner level years from now. However, also consider that actually winding up Partner is basically an outlier, as 90-95% of consulting hires won't make it there. As such, for the vast majority of people, those salary bumps and industry jumps may be the best way to go.
Chief
I very much think elements of partner2 are true, but the big thing for me is showing some consistency with a company is important criteria for industry roles as well
One year. Why are you staying so long at these jobs?