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

Hi All

Need your help in making a decision.

My friend has 4+yoe and holds two offer. One is from Hashedin ( senior product specialist) and other is from Netomi ( product owner)
Both have same compensation.

Please suggest and share insights about these two organization.

like

Hello Fishes,

Looking for referral
Goldman Sachs Microsoft Northern Trust Wells Fargo

1. I have 11 years of experience in Operations & Project Management.
2. Have implemented innovative and digital transformation projects such as ERP and IT Simulator.
3. Carried out process improvement and Cost-Benefit Analysis.
4. Engineer with MBA degree.
5. Certifications are :

Certified Project Manager (PMP)
Certified Scrum Master (CSM)
Lean Six Sigma Green Belt (LSSGB)

Looking for managerial roles.

like

Anyone hiring for strategic account manager, or AE/SaaS Sales roles?

Just started my first role in Tech ever as territory sales rep

Previous background all in Sales roles, most recently as a health and life insurance broker…

What can I expect , lay it on me foreal.

like
like
like
like

What should I ask in total comp- senior manager IT role in consumer goods company? Location - Greater Los Angeles

like

Hi Fishes ,
I got an opportunity from Axtria as a Senior Associate/ Lead - BIM. BIM is one of the Axtria's business vertical.

I've cleared all rounds of interviews including final HR round and salary discussion and at last HR told me that he will get back to me with next steps. It's been over a week, I did not get any response. I have called HR and he said he is checking with internal team and getback to me.

Anyone from Axtria or past employees have any idea for this kind of situation?

Thanks

like

Any current MBA students on here? Any wisdom/things you wish you knew before starting??

Looking for a position for IAM information Security within Healthcare. Provision, set up access, templates.
SaaS , Sailpoint, Azure . Any ideas ?
Thank you

like

What is the current salary structure of Senior 1 & Senior 2 in EY GDS for IT Audit domain (Business Consulting > Technology Risk)? EY EY India

like

M | BOS | 23 | $64K

Hi All,
I recently started working as Associate Project Manager in CBRE project management in New York. I am paid $80,000 plus bonus. I think I am paid less, but just wanted to check with the group here on what you all think.
I have 4 years of experience, Masters in civil engineering.

like

This may be a dumb question: do I really have to have an MBA to get advisory/consulting type of positions? Does intelligence automation/data analytics type of consulting also need an MBA? Or an analytics degree will help much more?

like

Best tips for negotiating end of year bonus and/or raise?

like

Any openings in third party due diligence/ background screening? I am also pursuing CFE. Thanks!!

likefunny

MBA hire into Microsoft MCAPS, 126k base 85k stock 50k bonus standard package for all interns in this org, good deal?

like

Manual testing opening in EY
3-7 YOE, UAT/Functional testing experience
Banking/Investment Banking/Capital Market/ Finance domain
Dm for referal

like

More Posts

Hi fishes just 4 days remaining of LWD. Which one is better.
1. Sapiens
2. Rakuten
I'm Confused. Your valuable feedback please.

like

How much percentage Variable payout can we can expect in Accenture during first year for lateral hire?

like

Anyone open to sharing my resume for the SOAR Program @ LinkedIn? Just graduated summa cum laude from UC Davis—really excited about this app. Happy to chat more if you have the time! Much appreciation!

like

Hi everyone, I need 11 like to get the DM access. Please help me in achieving that. Thanks

like

Joining ibm India in August is it still work from home please give reviews

like

People who have hired business coaches or taken online courses - what did you invest in, and did it help you?

like

How people are getting 10-15 LPA with 2yoe? I have a package of 3.6 CTC.

like

Did anyone else who got an offer feel sad and guilty about leaving? Wondering if it's because it's the first time I'm quitting or if it'll always be hard

like

How do you feel about mock PR Headlines?

Hi everyone,

I was wondering if anyone here had inputs on work culture at
Stripe? What do benefits look like (couldn’t find specific details on Google). Are they flexible when it comes to attending to family? How is the TechOps role? What is the growth trajectory?

What is a good salary range for someone with 10 years of experience and a MS degree (both exp. & MS in data analytics)

like

Just sharing a few of my doors. You can save them to your phone and use them in your Bitmoji classrooms.

Post Photo
likeuplifting

Has anyone else ever felt like they had to choose between design and advertising? I feel like I’m at a crossroads and my portfolio as it stands is 50/50. I always thought it was good to be able to do both, but I’m hearing feedback that I need to focus on one or other in order to move up the ranks. Curious what others think.

like

31 F, looking to date seriously and have a true connection, Nj area

like

Querry,
anyone with 3.3 tcs ninja package recently resigned and HR offered digital and said take back resignation, anyone there who taken back resignation for digital profile?? Please comment,reply

like

Has anyone passed the 2021 payables exam?

like

Does TSG have a sign on Bonus? If so how much is it usually after taxes ?

Just got hired as a Creative Resource Coordinator - advice for the first few months? I’m coming off of 4 years in a different position within advertising so there will definitely be a learning curve. Thanks!

Offered grade I at BP as Platform engineer. Currently at 16 lpa with 7 years of work experience. How much can I ask for?BP

Additional Posts in Consulting

Autistic fish: How do you tell people you're autistic w/o saying it outright? If you could ask for help/support to grow at work, soft skills in particular, what would you ask for?

like

Fellow democrats / moderate liberals: the SC nominee is an example of a time to not complain. This guy is moderate, smart, and has an immaculate record. Pick your battles.

like

Travel dinners: lobster appetizer,filet mignon, Parmesan roasted broccoli, honey seared carrots, and Pinot noir with some IPA's after for good measure. Dinner when home: hot pocket and campbell's soup

like

Which firm has the best dressed consultants?

like

I just started a new job. I left my previous job because the environment wasn’t healthy and almost all of my colleagues left. The team at my new job is nice but the nature of the work doesn’t align with my interests/is not as unexpected and I’m struggling to stay motivated. I realize I made a poor decision. How bad would it be to quit after only 2-4 weeks? Or, instead of quitting should I ask if I can move internally?

like

What are the starting salaries for an EY-Parthenon Consultant? Additionally, what would be an appropriate signing bonus and yearly bonus?

like

Anyone got pwc mobileiron installed on their personal ipads? Is it even worth it?

like

Notice there are so many people with debate experience in consulting. Kinda impressed. Any highly recommended books related to debate or communication in general?

like

PwC folks, anybody knows if we get an allowance for continuing education outside pwc? Want to take a course related to my practice

Best men's watch brands less than $500?

like

You’re checking out and this pops up. Wyd?

Post Photo
likefunnyhelpful

Thinking about leaving consulting after ~1 year for a startup I’m interested in but feeling like I still have a lot more to learn/explore with consulting. Would it be unwise to exit now and potentially find my way back later?

like

Feeling really burnt out, on H1B. Can't just take a break from work, also no utilization in this environment is detrimental. What can I do?

like

Accenture peeps what is typical raise % from C to M in strategy?

like

Just paid off my sister's first semester college tuition bill. Don't think consulting is for me but stuff like this is what makes it hard to walk away.

like

Protest voters- this was the wrong election to make your point for an ill prepared candidate that will not get 5% of the vote to make your dumb ass point. Waste.

like

So how are the Performance Calls going at Accenture? What is the Promotion process now?

like

If you join any of the Big 4 as an experienced hire, is it possible to get laid off before your first project?

like

After working with several IB clients this year, I can confirm that they’re on the blacklist for life. I don’t care how much money you’re making, manners are free and easily obtained.

likefunny

I need EY CPE credit before year end. Does anyone know of easy CPEs or ones that do not have a test?

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