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Culture? Different team? Different clients? There are a lot of reasons. Not always about comp
Probably a lot easier to just say that
You will never be fully valued at your current firm without moving. As companies rarely care about keeping people; they want to do the minimum possible. Also I don't think evens out in two years for everyone. Had I stayed at the original consulting firm I was with, I would be making $30K less. It sucks but moving companies is the smart play. People also move for career progression. Maybe at your current company you get passed over for promotion. Or maybe the writing is on the wall and you can't compete with the talent at the firm.
I cannot speak to each firm that is true. Only to the ones I have worked at or can base the information I have been given from people who have switched firms. It's always the same story and the same reasons. I actually really liked my previous firm and everyone I worked with but that doesn't mean the firm treated me well as a top performer year over year. Value is judged by dollars in this world. Firms give the appearance of caring but at the end of the day you are a number to someone.
Well I went from audit to advisory so the pay pump is more or less permanent, but most importantly the people and culture are much better now.
Yes, margins for jobs in advisory are much better than audit. I think salary is consistently 10-20% higher. I got a 16% bump when I lateraled from audit to advisory and another 20% a year later for senior promo.
I want to move from audit to TS eventually and I’ve heard it’s easier going to another firm than transferring internally
Having been at three B4 firms, the tech is pretty interchangeable. Ones does lose a support base and some intangibles when moving, but I’ve found it to be very beneficial. I’m in a specialty tax group with advanced degrees though so different experience than others.
Trust me, after Mercury, EY tech is not interchangeable. It’s on a whoooooole other level. Like farther away from heaven.
A lot of times switching can come with a promotion/move to a different group you couldn’t get before