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Hi fishes, what are the chances of Pwc AC rescinding an offer, given the market condition. The offer letter I have received seems to be generic and doesn't look it is for a specific project. The role seems to be generic. I am a little hesitant, specially because of HR's behaviour who doesn't seem to care responding to my queries and ignores all my emails and calls. Any advice?
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I would take the offer.
Corporate roles at C suite can have a short shelf life. Is the target org culture to rotate C suites? What makes you think CEO / COO would think you are right person to lead in 2-3 years? What if a new CSO comes in 2 years and get their team and pushes you in a corner? Some things to strongly consider. Partner or MD in big 4 is hard work but fairly stable specially if you grew up large portion of your career there and have a network. Lastly, once you have the P / MD title, many more doors will open in 2-3 years that may be even more lucrative. Ofcourse I have no context on this offer but wanted to share perspectives to consider. If this truly is great on pay and responsibility and would get you fired up in the morning, don’t hesitate it.
Thanks for the thought provoking comments P1 - really useful. As you very well know there isn't a guarantee that I would indeed make CSO. The last two folks that were in the role ended up with officer roles in the company with a similar background and a couple of years into the job. I would also have a shot at global BU head type roles as an alternative.Thanks for the thought provoking comments P1 - really useful. As you very well know there isn't a guarantee that I would indeed make CSO. The last two folks that were in the role ended up with officer roles in the company with a similar background and a couple of years into the job. I would also have a shot at global BU head type roles as an alternative. The comp for the next 2-3 years would likely be a wash as a lot of it will be in stocks but the next level seems to be on par with consulting partners
Take the offer. No brainer. You can always come back to consulting as a Partner after your industry experience. I've seen a Principal leave and return as a Partner a few years later happen more than a few times.
You will be much more valued and differentiated with your industry C-suite (or level below) experience. Your prospective clients will listen to you and give you their time much more likely than they would for career consultants. If your current employer doesn't take you, try another shop. Plenty out there with growth agenda and always seeking external Partners.
Mentor
And is that the worse thing in the world? Gone for two world to come back to where you are now?
One could argue that even if that were the case (due to lack of sales track record) your trajectory and path would be faster due to better ability to relate to clients based on the experiences you have gained in the industry
Both of these pathways lead to tons of money so eliminate that.
Why did I stay? Every two to three years for the past 20 years I have explored alternatives. Ultimately, none of them every seemed to offer the medium to long term excitement. I like my clients - they are interesting people who come to me with really complex questions and issues. Secondly, I love being around Associates - they keep you young. No where on earth can you find a collection of young people this smart who team and work as well as our Associates do. They are the lifeblood of the firm. Thirdly, I have always found a way to get some 'new challenges' when the job gets a bit stale. Went to accelerate our London office for a few years, helped launch our PE practice, now i am turning my current practice over to a colleague so I can launch a new one. Finally, I have an insane amount of autonomy. At the end of the day, I am more of a franchisee than an employee even w/in the huge firm I am part of.
Final thought - I have been doing pretty high end strategy consulting for 25 years now. Many of my best clients, especially at large organizations, are the CSO. When the really challenging and critical project comes up the CSO has to outsource it to me because they don't have the bandwidth and team to drive it. Annual planning cycle - they got it. Investor day - they got it. Portfolio evaluation - they call me.
If yoy truly have path to CSO role in 2-3, take it.
On the original question: what made me stick it out in consulting (instead of going to industry)? I work with super smart, nice, and collaborative people; no one tells me what to sell or work on (other than clients, by way of what they buy!); minimal politics; and yes, I do make more money than I ever thought I’d make. There are more workload peaks and valleys, but well worth the tradeoff. Maybe I would get the same working in industry, but I’m skeptical
I agree with this as I have the same setup. I tested the waters in industry but it just didn’t seem to give me the comp and freedom I have with my current job. I also think you have move from company to company to stay viable which also doesn’t seem attractive at this point in my career.
Compare your equity partners income after 3-5-10-15 years with C level jobs in the industry. I am not sure about your company , but in my partners get on average 2M after 5-7 good years. In the industry that income is only available to CEOs, and not all of them at that. I did not think I would make a CEO without some extraordinary luck, but I could make this money as a partner with great certainty and for many years.
That’s not the right order of magnitude for C-level at fortune 50 companies. This is public information.
Mentor
Depends on what sector, and how big within F500. I know some CSOs in F500 that crack 5-7m so if you can get that 2-3 years then great!
But one mentioned, it’s not without its risk (what makes you think you would be CSO in 2-3 years). What happens if you are not CSO?
Mentor
What sector? This seems like more F200-500 range as opposed to F100.
That said 3-5m is a good deal and basically the compensation of many firm’s most senior partners
Thanks all for sharing your thoughts. This has helped immensely in thinking through the next round of discussions I have before deciding one way or another
Industry and consulting experience is golden, and not in that order. Go with what enriches you every day, and have a fall back plan, just in case risk hits. The next one or two preferably moves. Industry rocks, after 25 years in industry, and many in consulting. Once u know the other side of the desk, you could have a wonderful career, however going to industry from consulting is easier than the opposite. Wanted to punch myself in the face after the first year joining consulting, however it worked put extreme;y well for my 21 years with the firm... and still going well. Good luck...., and remember 1mor 2 steps out always just in case.
It feeds my ADHD. Seriously. I could not work on the client side. My brain is wired to focus on new projects.
Ha. This has crossed my mind a couple of times. I feel like I'm the same but not sure a role in Corp. strategy wouldn't quench this thirst. Being part of day to day - absolutely