funnylike
Posting as :
works at
You are currently posting as works at
Highlighted IconHIGHLIGHTED

Forgive my ignorance, but are there significant consulting project that require the deep ML skills that many tech company focus on?

like

This. MBB needs basic ML for specific use cases. We are not trying to be big tech.

like

First, I would strongly encourage any of our DS or DE colleagues who can make $500k pa to try and go do so if that’s what they want.

Second, those companies have a different business model, serve different customers, and value different things than MBB. You might say that’s insane because we should want the best or are losing a war for talent. But ask, why do people go to P&G, GE, or the Gates Foundation post-MBA if they can earn so much more at MBB? Why do people go to MBB if they can earn so much more at hedge funds? Why don’t all MBB leave for hedge funds after 1-2 years? Different motivations, different work, limited demand/slots, etc all play. Same with FAANG.

Third, I can say with the confidence of a guy who has worked at FAANG, startups, and MBB that you’re looking at the outliers. Most SWEs and DS in the US make nothing remotely close to $500k with a few YOE. For those good and lucky enough to get a FAANG gig, more than half that comp is equity on a vesting schedule. Many SWEs don’t make it to the truly large cliffs, quitting or getting laid off before they vest year 3 (these companies are not dumb). Of those who make it, this comp is obviously tied to stock performance. It’s been great for 10+ years, but, at some point, won’t be. So this “guaranteed” $500k is anything but.

So we should stop with “it isn’t true” or calling BS on these numbers. Let’s just acknowledge that it isn’t the norm for the average DS, it isn’t the norm for the kinds of DS we hire, and isn’t something even the top DS that go to FAANG can count on earning in reality.

likehelpful

Great argument McK7

To add to it I think one of the biggest attractions to MBB (at least personally) is the clear career path.
I know exactly what it would take me to get to at least AP. And when the company doesn’t want me to get there (or doesn’t believe I will) I will be explicitly let know.

There’s always going to be a job that at one point in time under specific circumstances will pay more - whether as average or an outlier.

Recent IconRecent

Data scientist are actually generating revenue at tech companies not running POC’s or building reports like consulting companies use them for

likesmart

Lol, lots of reasons OP. Too many to count. Just try to jump to tech OP, no point in fighting. These are dead industries.

like

Not really sure which job you're talking about that pays half a million every year for DS. Those cats have PhDs in their fields at the big tech companies and are extremely well versed in what they do. The consulting firms will rarely have someone with a PhD, mostly just a master's.

like

Enough people here are telling your YoE is incorrect but you refuse to acknowledge that.
I believe people get paid $500K in tech because I know people that do . But they do not have 4YoE.

And if you want to go MS+5YoE

Then as my post above suggests I can make that much with MBA + 4YoE. Only difference is by 7-8 YoE I can be a partner making $1M+

So idk what makes you believe that consulting won’t pay that.
Maybe for DS yes because as people have also been stating it’s a different business model.
But on the Partner track I am on track to out earn all this stuff and screenshots you’ve been posting to prove your point

likesmart

$500K with 5 yoe after Masters. What world you are living in OP? Your numbers are just way off.

likefunny

Probably a good idea to exit to tech then.

like

OP, I encourage you do your OWN research. Come back and give us an answer. Everyone here is giving your valid reasons, but you’re set on your own way of thinking. Cheers.

like

Honestly, because most clients probably don’t know the difference between good and great and it’s hard to bill out at multiples of the salary you mentioned. Also, personally I think if you have a business problem where you can make a lot of money by making your algorithms 1-2% better then you probably should develop your own data science capability.

like

Why not go to those companies like Airbnb, Netflix, snap, etc. and leave consulting if you’re looking for significant compensation increase and they’re willing to pay you what you want?

like

Consulting is already upping their game in how they hire, how they promote and soon how they pay.

You used to need an MBA to go beyond BA. You don’t any more, you can skip straight to EM. Likewise, you needed an MBA and 3-5 YoE to get the post MBA role -now you just need an MBA.

Promotions are also accelerating and with BCG leading pay has started to increase.

😂 that’s not the average data scientist comp with a few years of experience. Maybe FAANG comp.

like

It is not. Ask someone that works there.

I am sure someone makes that much money. If someone is salty about how much a company is or isn't paying then prove your worth by getting that 500k job. Many people here have jumped ship into jobs paying them 30,40% more-maybe not half million levels but still thats an extra half year salary change. No company is perfect in compensation and if every company needs to match highest or top tier money then they would be out of business. This is not like NFL where there's only a few person who can do the job...

like

1) FAANG DS do not make 500k, that’s absolutely bonkers comp, give receipts or get outta here

2) MBB DS coming in with experience makes ~200k TC as an ASC , with much higher comp trajectory than FAANG over 5-7 years

like

Thanks for the receipts OP - a few things I would consider from seeing that picture:

1) The YOE required for the position - most of these jobs require phd’s and many YOE. Total comp is probably equivalent to an AP at McKinsey which most folks (DS included) get to after 4-6 years. I think overall it’s probably a wash with MBB but partners (6-8 YOE) definitely have an opportunity to make more. The MBB Value prop for pay is in the trajectory.

2) the total pay in the screenshot is *inclusive of stock and equity grants*, which are not paid out as comp in the typical sense. Some of these grants will take multiple years to vest, which sort of dilutes the comp.

A bit of primary sources I’ve heard from: I have a sibling that works as a senior SWE in FAANG and a good friend who is an applied scientist at Amazon. They both have salary structures that conform to the above, with the total *annual comp* being much lower that what’s shown and slightly diluted

Data scientists at MBB (and OW) make far more than 150k for 5 years of good experience. I've had data science / research scientist offers from consulting and big tech and the numbers were fairly similar. Granted though, the job is a lot more stressful in consulting. You also have the path to partner in consulting, whereas it is quite hard to make $1M+ in tech 10 years out of school.

A2- do you mind if I contact you? I’ve an upcoming DS interview at fb

OP - you may have found a glitch in the matrix we live in…Watch out!!

DS making $500k at faang are top quality talent and those teams are incredibly lean. Secondly, you’re supposed to be a consultant - I’m sure you’re smart enough to figure out why mbb will never pay DS the same as a Faang

@OP MBB doesn’t need the best data scientists. Why would you pay for something you don’t need? MBB also doesn’t need the best medical doctors, the best lawyers, or the best astrophysicists. Sure they may hire some people with doctorates, we bring a lot of value to teams, but you simply don’t need someone who knows how to write a complex neural network algorithm to make an ROI model in Excel. You just need someone who demonstrates good business accumen and the ability to learn how to build an ROI model quickly if asked to do so.

Fwiw, data scientists have very different skillsets than strategy consultants. I don’t think it’s a question of “going for the best” in terms of intelligence, they’re just very different academic profiles. The two skillsets are not totally disjoint, but assuming someone with a PhD in e.g., computer engineering can sit in front of a F100 CEO is a potentially huge miscalculation. I’m speaking as someone who has a PhD in a field that puts people 90% of those who leave academia into data science

like

OP people have mentioned to you that your numbers are off even in the sectors you’ve mentioned. If you think otherwise, then why don’t you switch to big tech and get those figures?

Can someone post numbers similar to levels(dot)fyi for MBB? Lots of people saying MBB has better trajectory but I don't see the data.

As a SWE/DS/MLE 100% advice you to go to tech. You’ll be paid better and valued a lot more.
If you go to MBB consulting track you wouldn’t be using any of your skills.
And if you go to the DS/MLE role you can only earn that much if you get to lead the practice which is insanely unlikely. 100% go to big tech.

Dude what the hell are you saying lol

Related Posts

Hey Folks,

Can somebody help me understand what would be the inhand salary for the below pay structure..

Tech stack SAP
YOE 7

Post Photo
like

Is there anyone in HR that can clarify this for me a little- Hawaii is a state that prohibits future employers from asking your salary. How does this apply to remote positions? Is it only based on the home state of the company? Or would it apply because I am applying from Hawaii?

like

Hey EY folks, please suggest. How is EY GDS advisory services for data science domain? What kind of role expected from senior consultant 3 or AM? How are the projects? EY

like
like

Which other schools have delayed opening F2F until September? Do you think a lot will change in that time?

like

Anybody know the salary range for Portfolio Implementation Manager at Bank of America in any location?

What is the salary of a senior product manager at ola ?

like

I'm new working in Germany as a chef.
How are the usual salary?

Has anyone ever held two sales roles at two different companies at the same time? My main role is remote and I think I can take on another remote role, what are the odds the companies would find out about each other?

like

If you have a profile in Cobalt, please navigate to your profile and you can see your new base salary under Employment Information.

Forwarding information from Deloitte bowl (I have tried and it works)

like

What is a fair salary for a rehab director transitioning to clinical liaison?

like

Hi
Need referral in WIPRO
Req ID: 2709147

like

Hi All,

Please let me know in case anyone come across any decent job opening for Company Secretary with YOE 7+ years having vast experience in Secretarial audit, secretarial and sebi compliances, voluntary liquidation under IBC, opinions under companies act including buy back, preferential issue etc

I know a candidate, very close friend looking for change. She has just started looking after maternity. Previous employer didn't give her maternity so had to leave that job.

Thanks.

like

Health and benefits sector - how much should I aim for at Mercer for H&B consultant role with 4 YOE in regional brokerage? Washington DC area

like

Hey fishes, what is the in hand salary in PWC India for 9lpa fixed salary?

like

Has anyone received the bonus letters yet?

like

Hi, I have been referred for the software engineer role at Natwest Group Bangalore. but it has been one month and above. I didn't receive any mail or call from the organisation. how long can I expect a call or mail from them?

like

In MBB / T2 market in SEA what would be the net take home ( in USD post tax w/o adjusting to cost of living) relatively to each other . My sense is that if we take Singapore of index of 100% of net income for the level than:
1) Indonesia 70%
2) Malaysia 80%
3) Thailand 75%
4) Philippines 65%

like

Hi,
My offer as Operations Engineer with Oracle fusion apps got struck due to hiring freeze since June 2022. I am desperately waiting on this.😅

Any idea when hiring freeze will be lifted?

like

More Posts

I received a job offer for a PM position with a base of $125K and a 10% bonus, fully remote and ok benefits. The parental leave is pretty bad, just FMLA and STD/LTD so the most I’d get is 60% of my salary for 12 weeks. I’ve cancelled most of my interviews except for one where the pay is $135K, 20% bonus, hybrid schedule, good benefits and 16 weeks fully paid parental leave. I’d like to start my family in a year or two - is it better to take the remote gig or the hybrid role with full paid leave?

Is Deloitte Canada bowl still working? Transferred phones and don't seem to be able to find it anymore.

like

Integrated media planning/buying pro for immediate freelance opportunities. Director level so can easily level up or down. Ultimately looking for full time gig but until then...DM for credentials.

like

Studying for FAR got like 2 more weeks. I find the SIMS to be very time consuming to re-do them, also I am not sure if I am very comfortable with those. Given this, should I keep hammering MCQs or spend time on SIMS? Confused but also don’t want to fail..please help!!!

likehelpful

Has any gone through the Accenture skills interview for a product owner role who can help provide some insight?

like

MDs in FDD, how much are you making?

like
like

Hi Folks,

I recently a week ago i joined legato and in induction i heard that around 18 applications are migrated from mainframe to cloud and all the applications will be moved to cloud by Jan 2024.

Any idea for anyone, after migration will company upskill a mainframe employees to new technology?

How is internal transfer job opportunity in Legato for switching technology?

like

I'll be based in Tampa but living in the Orlando metro as of 8/30 (official paperwork lags a bit.). I can’t wait to be back

like

Is it possible to make a jump from Pharma to a Tech company? Seeing how some big tech players have medical/science focused subsidiaries, they must be looking for skilled ppl from Pharma who've worked in MedEd and promo right? Has anyone made that jump?

like
like

Are there any good books to read from a start up perspective? I’ve reading the lean start up but would like some other recommendations

like

NielsenIQ I am almost done with all interviews. HR round is pending. Q1) How much salary to expect from nielseniq ?

Expr - 12 year Skills - Java, spring boot, microservices, angular

Q2)How much % variable pay included in CTC

Q3) How is Tech stack, WLB in NielsenIQ ?

like

What will be the in-hand salary ?

Post Photo
like

With yesterdays rate increase, and an additional 3-4 increases slated for the rest of the year, how high are mortgage rates going to be through the end of the year?

like

I wish admin utilized Tier 1 supports with teachers. Smiles, appreciations and acknowledging ones efforts would do a great deal to boost morale and climate. I just don’t understand what that is so hard to do.

like

How much do retail assistant store managers make

like

Any Deloitte employees nearby LB NAGAR HYDERABAD??Deloitte

like

The US government still thinks Schmidt’s a douche though

Post Photo
likefunny

Additional Posts in Consulting

Currently in the cloud space. When is a good time to exit consulting? Goal is to become a tech lead in a mid to large size corporate. Thanks.

like

Learned that I’ll be laid off next week. Setting up networking meetings now to find something new, but know it will take time. How do you explain a lay off or gap in employment to potential employers?

like

Hello all! Deloitte is hiring for consultant through manager level roles. Please send me a message if you would like to apply

likefunny

How do you deal with 2 leaders who don't like each other? They constantly talk crap about each other when the other isn't on a call. One of them is telling us to not schedule meetings or run things by the other...

like

What’s an appropriate salary for a PMO Manager role at Apple in California?

like

Any suggestions on resources to improve communication, specifically verbal? Books, podcasts, YouTube channels, etc. Got some feedback that I need to improve my ability to 'speak to my audience'.

likehelpful

What is the final round at PwC like?

like

Best consulting firms for strategy in the US besides the big 4 and MBB?

like

Curious to know what % of this community has invested in Bitcoin, Ethereum, or Alt coins. My exposure to thought leadership / emerging tech heavily influences my own investment philosophy.

like

Do you guys wash your work clothes or dry clean them? If both, then how frequently do you dry clean?

like

In college it's plagiarism. In consulting it's "leveraging"

like

I'm so jaded 😬

Post Photo
likefunnyuplifting

Are any top consulting firms hiring for experienced analysts currently? I know ACN and some others are cyclical for resources 2-3 years out of college, but I’m looking to make a move sooner than fall

like

Where are my fellow straight consultants playing with men while traveling? ;)

like

Does your rubber Tumi handle peel and little rubber bits fall off? Like an eraser? What does one do to stop it?

like

May be moving to Cali to work in San Fran (Fin District). Where to live with a family that's a) "affordable" (by NoCal standards), b) commutable and c) decent schools?

Does anyone know if the same 401k rules apply at EY as Accenture so they will cap the contributions coming for your check say if you hit the yearly limits in August? So if you hit the 22,500 in 23 there is no way to go over for tax issues. Thinking to frontload next year contributions if market is down. EY

like

Maybe I’m out of the loop…but how are all these consultants on here making low to mid six figures with 3 years industry experience? Perhaps I’m just in the wrong industries but that seems too short a time to be advising others in a field. Are these just internet exaggerations? Or is there something big I’m missing?

likefunnyuplifting

Season 3 will be a great reason
To forget all about reality

like

Anyone leaving early tomorrow to get to Passover Sedar on time? Have your clients/teammates been respectful?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Send download link to your phone

OR

Scan your QR code to download
Fishbowl app on your mobile

By continuing you agree to Terms of Use and Privacy Policy.

Messaging rates may apply

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal