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McKinsey & Company I received an offer from McKinsey & Company in 2021 and I’ll be starting later this year after graduation. Obviously because of the pandemic, inflation is slowly trending upwards. Has anyone asked for a base salary increase before even starting the job? Any advice on how to approach this?
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Having a continuous work history helps a lot, so if that’s available to you right now I would take it to avoid work gaps. This is doubly true if you’re looking to be at CVS long term anyway.
Subject Expert
Do you have competing offers in hand? If not, take it. If you have a better paid offer, take the better offer instead.
The cost (missed earnings) of being unemployed until you find another job add up quickly. It costs 12.5k (150k/12) per month, and finding a new job can take several months (hence 5 months cobra). You can keep job hunting while at cvs and quit later, but you'll never be able to go back in time to recapture the missed earnings (unless you win a lawsuit against accenture and get back pay, but that seems unlikely). Yes, it will be weird interviewing right after starting a new role, but claiming that the role isn't what you expected is easier than explaining why you were chosen for a layoff.
The market is changing rapidly. If you want to be at CVS long term I’d take it and devote your full energy to the role. If you job hop chances are you won’t be invited back to CVS in the future.
Coach
Yes
Did you get an offer? How long do you have to decide? I would say sometimes it can take a while to find a job. So if you’d be fine in this role for a year, take it. If you have enough savings to carry you 6 months without a job and it doesn’t feel right, keep looking
What was your package?
I would take it (better than unemployment) and keep searching if you can't afford the annual pay cut.
Mentor
Absolutely take it because it's a company you say you want to work for anyway. Gaining entry into the company, given the layoff, is the best outcome. Don't worry about the paycut, in fact see it as a steady income that will pay the bills + meet financial goals in the interim until the right role comes along. I say this as someone hoping to quit in March within nothing lined up 😀
Mentor
Yes take it as a stop gap please and keep trying
Yes good stopping point. For reference you can interview internally after 1 year to another part of the company and get a raise.
Dude just take it. And keep applying to higher, better roles.
Curious what our severance is. Mind sharing?
Yes, it will cost $900 / month for me and my child vs ~$300
Enthusiast
Take the job, you may have a great resume but a gap will only make it tougher to land your next role especially with the recession. Good luck.
Mentor
180 base as SM1 at Accenture? They are hiring for their new PE practice at SM level and I was quoted 250-290k base. Not interested or pursuing but I’m shocked there is such a range
The company pays more to new hires. I started as an analyst. Midwest. Strategy and Consulting. It’s a bit low for S&C for sure.
So Accenture started layoffs?
P1 You have moved on to Protivity since then I assume? Congrats!
Do you think you can get a better role before your $$$ runs out?
I was laid off a number of years ago and took a $37k pay cut and it took me years to make it up.
Thank you. That’s what I am worried about.
I would take it if I were you. Is it in Woonsocket? Providence is beautiful to retire/low down while u make your next move.
Remote
I am in a similar situation and took an offer with a great organization with less pay and lower responsibility. I will continue looking externally and internally at the right time.
best of luck! i’d take it but be firm in negotiating
Take it because having industry side experience makes you a better consultant long term. And you might even like it more.
The answer is no assuming you have some savings. Apply at D. You can make more at D as a Manager (SM equivalent at Accenture).
You worked hard in consulting, you need a good exit!
Haha M at D = to SM at ACN. I think its the other way around!