Who are these people who said yes ?
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I think it would be a good idea for company’s to be transparent about the salary range for a specific position. I don’t need to know the exact amounts everyone makes. Ex. Senior analyst range is 60k-85k, that would be helpful to know where I fall in the actual range and what growth potential is. The larger the firm, the more they should be doing this
Accenture used to do this and stopped.
I’m at a smaller firm with just over 200 consultants and we have full pay transparency for each level. There’s a sheet dictating what your base is and what your bonus is based on billable hours. No negotiations. The downsides: we have no yearly performance/inflation bumps (I’ve literally never been at a company who didn’t do at least a couple % raises each year). This means the low performers who get poor reviews are making the same as the high performers with excellent reviews if you bill the same hours to a project, which is not usually in your control and not related to the amount of actual work you do. We get performance reviews, but basically they lead to nothing except a promotion evaluation, which is more based on time-at-level instead.
So yes to full pay transparency, but it comes with consequences at my firm.
Sounds like the military without the bonuses.
All bcgers i would say? Salaries are only based on tenure, so we know how much everyone makes
Me. I don't care about how much other people earn.
PwC --> it can be either
https://www.grammarly.com/blog/anytime-any-time/
It’s lockstep salary with defined bonus ranges by level not sure how much more transparent it could be except for posting everyone’s actual performance bonus and ratings (which is probably a step too far)
Chief
Anyone who works in HR would've said yes
Doesn’t add to 100. Pls fx
I got 99 problems but salary isn’t 1
Boeing publishes salary tables internally up to senior manager.
Not related to the above but how is Boeing in the consulting fishbowl?
We get sent around the pay grid across the entire firm right up to below the partner level, sure you can’t be sure if your EM friend is EM1 or EM2, but we generally have a good idea what everyone is making… is this not standard in consulting? 🤔
Wow bravo to Oliver Wyman - I applaud this.
OW is based on level so everyone knows how much everyone else makes based on the comp table. Really transparent.
Same base. Bonus is a bit different - each level has both a base and TC value. To determine end of year bonus you subtract the base of what you were from the TC of where you promote. That way your bonus is really just trueing you up for operating at the next level for the past year.
Rising Star
I mean, I'm more confused at the people saying no. I know exactly how much different levels make at my firm (with variance for performance bonuses, but the bounds are clear). That's pretty standard across consulting firms.
Yeah, S& is super transparent. There’s no pay band game, everyone is paid the same at each cohort and bonuses are communicated well by tiers of buckets.
Pay is opaque AF, no idea what anyone is paid or the respective bands to the point where external jobs are more transparent than promotions.
CB - fully transparent on pay. I actually know my base + bonus + rsu in system if I get promoted since its published internally
CB2 - Agreed you know what u going to get in future. There is no issue that if you are better negotiator or you joined later you will get paid better. Fair enough some talent outside the bell curve whom wants higher comp will want to leave but at least there is no parity (except on location)
Chief
Well, a most of MBB/T2 have standardized pay structure so there’s that.
Pro
Partners who get to see all the pay ranges at their firm lol
PwC is on cohorts which, while not published, we co-source through our bowl to see the levels. Really nice knowing each level is paid the same.
I did, I’m happy with the level of transparency of pay at my company. I’m not happy with the pay itself lol
Rising Star
Me🧐
I am more into those who said Unsure