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How does one get on at a family office?
I feel that way too bud
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Subject Expert
A1 and A2 are ok. M doesn't seem right.
A1 at Accenture is 31.5k with a 10k signing bonus over 2 years. Though they bring a lot of people in as Associate now with 28k + 5k signing. Consultant is 40-60k. Manager is 60-90k. Depends on practice, YOE and performance.
M is 60k+ at PwC, I know someone who got an AM3 offer at 55k from PwC which was bumped up to M at 60k. Roughly similar bands at Deloitte advisory/audit/tax. Consulting pays more though, 75k base for M.
I know S& pay £70k starting for Managers. Also audit pay £50-60k. I think PwC is one of the few places where Managers start on less in consulting vs tax.
Also wider access to tea and biscuits allows for lower cost of living and the queen basically pays for everything.
Why is the UK pay so low? Isn’t London super expensive? The D salary equivalent to what a senior consultant at Deloitte makes in the US when converted to USD.
So what? Economy size has nothing to do with this - look at Switzerland which has US level salaries and is probably 20x smaller than then the US economy.
UK D was similar when I was there
Analyst: £33,100 - £34,500
Consultant: £36,000 - £38,000
Senior Consultant: £54,000 - £65,000
Manager: £70,000+
It will definitely be lower outside of London
Yep, Big 4 / MBB salaries are a lot better in US than pretty much anywhere else in the world. Only place where I’ve heard they have similar-ish salary levels is UAE / Gulf region.
Subject Expert
And Switzerland
Half of my family lives in UK/EU. The cost of groceries, insurance, an other base spendings are way way lover than the US. I remember spending the same amount for grocery shopping for family of 6 instead of 2. I guess all these factor into the salary.
That'll change with brexit and the new trade agreement
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PwC UK alum here. Tbh I was Strategy&. At SA2 I was at £53k and M at £70k start. I am not MBA but MBA M’s we’re at £90k+. My SM friends are definitely much above £68k. Depends a lot on what part of the firm. That’s why I say always negotiate:
https://www.theabundancepsyche.com/post/the-recruiter-says-the-salary-is-non-negotiable-is-this-true
I'm an associate on 68k but my bonus will likely be 10O%. Had I started and stayed in consulting timeline wise I'd be SM I think. When I had a recruiter call me with Big 4 roles and gave me the senior manager salary band (around 75k I think it was) and bonus of 10-20% it Def wouldn't have made sense to move.
Btw OP are those audit or consulting salaries? Seem like exactly the type of audit salaries we'd have had several years ago for those years
These are consulting base salary figures in the UK. I know these up to SM. These are just starting salaries so I know someone who joined as manager at £70k. But if you work your way up from the graduate scheme, after 4-5 years you will begin Manager at £48k
ZS London (GBP):
A: 40-45k
AC: 50-65k
C: 70-90k (depending if MBA or not)
M: 100-120k
AP-P no clue
This does not include bonus which is 6-10% for average performers and 10-18% for top.
You can also expect your salary to increase by 10% a year if you perform well and still stay at the same position, as our promotion cycles are a bit slow (2-2.5 years on average to advance to next level)
Wow (I know cost of living is drastically different but) is that considered a “good” salary in London? If not, then what jobs make more?
Average rent is around £10-15k pa. no idea about food. First time buyers are typically Managers at PwC who buy with a SO
For Analyst its not a bad one - for other smaller firms graduate is like £26k
Woah, these salaries are crazy low. Our entry levels associates straight out of college make $100k USD. So £80k!
I think it’s the change in exchange rates: pre financial crisis it was $1.9-2 per £1. Then 5 years ago it was $1.55 to £1.