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With the recent salary increase at junior levels at MBB, can someone tell me what kinds of salaries are in tech that encourage consultants to jump to tech? Can someone give me some data points for salary levels in tech for roles that align with a consulting background? For example, S&O, BD, PMM. Boston Consulting Group McKinsey & Company Bain & Company
Any insight on working at Slalom Consulting?
Who's at midway, right meow ?
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Sorry this stinks. On the ➕ side your emoji story game is super strong 💪🏼
Can see why they phased out the senior though as newly hired SAs should be promoted to Manager in 2/3 years thus would be getting a big payday in a relative short span. I'm still more upset with the cohort model as top performers aren't compensated for such except for a modest increase in bonus above average performers
Annnd they are dropped to 0% for non associate original hires in 2019
Source: PwC Inside Email - Last of Top News Category
I mean ... after this news $8k bonus definitely won't keep me around. It's so ridiculous they did this before CRT to people going up for manager like myself
Just remember, the hundreds and hundreds of people hired at PwC from this moment forward will not know any better and will accept it as not only the norm but as a great bump. And that's why we all leave 🤗
Very short sighted. Turnover was already running well ahead of last year, can't wait to see how much this helps.
Yeah p4, the cohort model sucks
Yeah this is shitty. @OP good detective skills. Finding the % changes is not that easy. Obviously they don't want to promote this change...
@pwc6 I get why they might want to adjust it but right before CRT for people like me looking forward to the bonus it leaves a VERY bad taste in my mouth since it is different then what was promised. It should have been based on hire date. Also when you were promoted to manager for 95k one might argue that that was based on the market benchmark, cost of living, school, etc. go up as does salary so the % should not be changed since it's still at the same rate.
@p6 Agree with OP that it was probably the market rate then. They have also flattened out salaries at the manager level. Increase each year is ~50% of what it used to be and bonuses haven't fully been paid out for several years - not even close recently. Don't see the point of this unless they actually decide to give market bonuses this year instead of leave people to be disappointed after CRT.
Where do u see this ?
Looks like they only care about retaining those who joined at associate level, probably to address the senior associates turn over for assurance practice...
They reduce it for both ...how does that fix anything
They completely phased out the award for those hired as seniors...
HHahaha Pwc still screwing people!
Obviously new managers now are starting with new manager salaries WAY higher than when they first started this program, so reducing from 25 to 20% makes sense in leveling the amount of money they pay out. Honestly, we should feel lucky they even do this!
FWIW, I'm a Director who started as a new Associate and my new Manager salary was something like $95k.
And this program was always intended to reward loyalty / tenure, so I'm not surprised they are phasing out the payments for people hired as Seniors.
Worlds best. Rand for you ladies and gentlemen!!! Best brand, charge clients for excessive night outs, and start reducing people's benefits and bonuses. What would this fall under? Making relationships with employees or enhancing Business Acumen?