{ "media_type": "text", "post_content": "Thoughts on what this means for West Monroe employees and position of firm?", "post_id": "6168a91cdfbaad002d8823be", "reply_count": 48, "vote_count": 18, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting" }

Thoughts on what this means for West Monroe employees and position of firm?

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It's a partnership (50-50) with WM leadership still running the show. WM rewarded years of service materially. A lot of new wealth was created overnight, esp. those with many years of service... and most importantly, not just centered at the top. If you had stock, you got a major payday. The culture is real, the money is real, the leadership takes care of their people, and we now have the capital to continue to grow with the support of this new partnership. So nothing changes, beyond some validation to employees that it was actually worth hanging in there. New stock programs are forthcoming for all employees. Don't join if you think this is overnight money (it definitely is a long play). If you are a good fit for the culture, don't mind being a bit under market on comp, but want stick around for a while and do interesting work with decent WLB, then it's probably the best time to join at the ground floor of the new round. Just plan to work hard. The stakes are even higher with many current employee shareholders doubling down on their WM investment by choice. Hardest working bunch I've ever met.

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Sponsor ownership also means being laser focused on EBITDA growth and margin. Consulting inherently is an absurdly high margin business but wouldn’t be surprised if there was excess “fat” that gets cut, whatever that might mean for the WM context (people, resources, perks, etc.)

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We cut a lot during covid, lowering our expenses to make us a more well oiled machine during the lean times. While we've opened up more the experience has helped us cut the fat and become stronger.

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Some people just became multi millionaires

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@WM10 - I'm now quoting an all company email sent on June 22nd from Susan: Increased Base Salaries: We are increasing base salaries for all employees at the Director/Innovation Fellow (IF) level and below a minimum of 8%, which is the amount we target annual ESOP share allocations to equate to. To increase cash-in-hand, we are now shifting those dollars to come to you in base salary instead. So, if you did not read that email then I can understand how you would feel pissed, but it was clearly conveyed several months back what the raise was for. Now, if I was you I would take the 8% and figure out how to get it in your 401k to buy company stock, because last week was not (in my opinion) the biggest opportunity.

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We’re all fired up and excited for our future. Tenured employees were rewarded. New employees have something to strive toward. We will be more competitive and continue to grow, buckle up. Leadership stays in place as does our strategy. Time to take over the world!

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I honestly can say this year WM has gone a long way to close the comp gap. I received significant raises to adjust my base by almost 37% this year and now feel I make comparable to what I would get if I went elsewhere. I could make more in other roles if I want to give up having a life,but I'll take my very solid paycheck, million dollars in equity, and strong future potential and smile. Next stop...IPO (I'm guessing)

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I don’t work there but I hear they have great wlb

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Great compared to other consulting firms, not so hot compared to most industry positions. Also pay is similarly balanced.

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I had the opportunity to join and regret not going. The people all seemed great in the interviews and instead I chose prestige. To my understanding everyone had an opportunity to buy stock so this has to be great for them.

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No regrets. Career decisions have to make sense at the time, and depending on where you are in your life, sometimes where you work does matter to give you some street cred. A lot of folks are giving WM a second look after today. It’s the ground floor of a new opportunity to grow with the firm!

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I read LSD and I was like West Monroe’s the move boys and girls

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Accelerates everything. Come join this 🚀

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West Monroe will be pushing a lot more Dell services 😆

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We aren’t Accenture 😂

They had to recap in some way. The ESOP was incredibly generous and simply not sustainable long term based on the way it was structured. Glad they found a great partner.

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Really excited because this means all those who spent 5-10 years will stick around building to continue and grow the nest egg, new capital to reinvest in talent, expansion, acquisition targets, and new hires likely to hang around hoping to be a part of this rocket before it is in the atmosphere. The best Digital Consulting firm is coming.

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I’m happy for my consulting colleagues. Good for you! Hoping there aren’t mass layoffs, etc.

likeuplifting

The investment is intended to significantly increase our staff numbers as we look to expand internationally

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Happy to refer! WLB is great and people are awesome!

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Not currently. Only US positions for now.

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