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Bonus target is for the top rated reviews, not an average figure. Expect 25-30% at first.
If i were you i would care about these things:
A) what is the offer in, in terms of industry vertical and your go to market team and horizontal? This matters. Are these alignments in line with your long term career directions?
B) whats your comp trajectory at ACN strategy? Are you close to promotion? Whats the comp at your next level? You are coming in as M1 and it will likely take you at least 3 years for promotion.
C) how strong is your current network at acn, and how much value do you put on it?
D) related to C above but do you intend to stay in consulting long term? If so staying at ACN would make more sense, if all else equals or as a tie breaker
S& is a step up from Accenture.
A lot of good info here OP, but also a lot of misinformation. So hopefully I can clarify the various points to you
1) You have a good offer. While you shouldn’t expect the 55% bonus in your first year as a Manager, you could reasonably expect 32% (tier2), which is also a significant bump over what you say you’re making now.
2) Base salary will increase 7/1 - we know that with a high degree of confidence. To what? We don’t know. We may find out tomorrow, we may find out early May. Your pay will become whatever the new M1 pay is. Everyone within S& at a given cohort has the exact same base salary I.e., all M1s get the same base.
3) While we don’t have an ESPP, our 401(k) matching at the M level is around 6.5%. However, the company match vests over five years.
4) Another thing to keep in mind is that with the addition of a new Senior Manager level the path from Manager to Director is now about four years long.
While there had been a number of talent retention challenges at S& post merger, most of that is ironed out now and is no longer an issue ie attrition is no more or no less than other strategy firms.
Happy to answer more questions for you
It’s the latter, OP!
I mean.. S& has had very public problems retaining talent post merger. If you’re doing well and happy I would keep your head down and make partner
Those of us who left 5 years ago haven’t forgotten
S6 has re-emphasised most points the S& folks have shared. I am not sure that S6 did throuogh justice to point #4. Currently path to director from M varies, it could be 2 or 3 or 4 yrs, moving forward it would still be about the same thing, but there would be a SM position in between. So you could technically spend 2yrs as and M, 1 as a SM or 2 and 2 respectively. The position was created not to add time but to provide consistency in roles within our advisory business.
Hi close are you to Sr Manager at ACN? And do you see a path to MD? Sounds like a solid offer to me with a lot of upside
What are the benefits like 401k, healthcare, vacation, and a ton of other stuff. Dont forget to include those for comparison
Do it. If comp is what you are after, then this is a no brained. Your annual bonus may be multiple higher than current, even if the bonus pool isn’t fully funded. Also you’re getting 30k to switch.
PE1 hopefully you're not on the investment team..lmao jk, but seriously that was long ago, buyout, retention and all that stuff is now over. We now just play musical chairs. We lost folks to MBB+OW but also gained folks from MBB+OW, we lose juniors to industry but also gain from industry and still placing great numbers from our target schools.
I am on investment team... but I’m sure I’m not fully up to speed. Just remember people left in swarms
Recruiter also mentioned “a high possibility of base increasing in the summer” to meet the market shift. Is this possible if I’ve only been working there less than two months by the time summer rolls around? How much is the base likely to increase? Is it likely marginal or substantial and has leadership actually confirmed anything?
For those curious why I am even considering the switch, it’s because most of my network at Accenture has left, I feel somewhat underpaid. So far I’ve liked the people I’ve met at S&.
I wouldn’t count on the S& increase. The market would be driven by MBA hires coming in higher, which doesn’t seem to be the case this year. As another Strat M1, I agree our bonuses are terrible. That said, our 401k match is worth 10k and our ESPP a few more. You don’t get nearly that value with S&
Verbal confirmation from few partners nothing in ink yet
A few more questions:
1. How much of each cohort do you see involuntarily pushed out at promo periods (SA to M, M to D)?
2. How heavily is performance based on utilization? How easy is it to get staffed? I ask because being unstaffed due ups and downs of business was by far the biggest reason people are let go rather than for true performance issues at Accenture Strategy.
3. Do people ever start working on a project before the statement of work / contract is signed? I ask because at Accenture, we often start work before the SOW is signed and sometimes people will spend like 5 weeks working only for the client to back out, which causes those 5 weeks to appear as “unchargeable” or unstaffed time. I’ve seen people let go or not promoted because of that reason.
Not sure on #1
For #2, you have to hit a minimum and higher is better, but it’s definitely not the only metric. I’ve been on the bench only because I wanted to be (after a brutal project)
On #3, I’ve seen us start before, but it’s never affected utilization or if it does, it can be explained away
1. It depends on vertical and cohort strength etc. Not able to give a better answer, sorry.
2. Utilization matters, but your actually performance matters more. Let's say it this way, you would have opportunities to be staffed but what you do with those can affect future utilization, do shitty then your utilization would suffer, do good or great then your utilization would be okay. What you express happening at accenture could occur, but only in extreme situation i.e all options for staffing would have to be exhausted and demand would also be trending downwards.
3. It could happen, but generally frowned upon, it also requires a lot of approvals and this would be based on the likihood we get the work and potential risk and liability concerns
Which practise would you be joining if you do accept?
CM - specifically for CPGs although it may be in an unofficial capacity