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 Team,
I work as cloud solutions architect at Microsoft. With having 8 years of experience.
My salary is around 19 base pay and 25% variable on top of that.
1)Just wanted to know whether level 59 can go upto how much amount?
2) am I underpaid?

like
like

What is big 4 salary range for a frontend developer with 4.5 years of experience?

like

Salary for Global HR Generalist

like

I have always been very blunt and straightforward so I’m struggling to find the best way to respectfully counter to when the MD offers me sub $200k for a Director position in a new department she’s heading up, I know hiring her was expensive and then says “It’s not always about the money but more the experience.” Thoughts?

like

Have worked in both banking and consulting, but still looking for a combination of things:
1. Something that’s less quantitative / producing and checking numbers constantly
2. Managerial and people-focused - not just an IC role
3. Ideally remote with some kind of international flavor

2 years post-MBA, 9 total YoE, incl. MBA

Any suggestions?

like

DM for Microsoft referral

likeuplifting

TCS HR is negotiating me and offering 9.5 LPA with 1 lakh bonus amount over 8.93 offer of IBM in which 8.3 is in hand. And i demand for 12 LPA as QA Automation engineer total 3.8 year of experience. Should i stick to 12 lpa and join IBM at 8.93?

like

In TCS what is considered to be a good visibility? Recognition by Project Delivery Manager or Delivery Partner or till little more up the hierarchy? For a C3B grade employee.

Question not related to promotion or compensation.

Anyone at Workday willing to talk about the company and potentially give me a referral?

like

At Visa Inc, is it standard to have a sign on bonus with package?

like

Hi,

I attended L1, L2 and HR round on last Saturday.

Hr said they are giving me C1 band and they can match my current fixed offer of 27lpa with fixed and variable pay.

I asked for joining bonus. She will check for approval (my lwd 3rd June).


It's been 2 working days now, there is no update from HR on offer letter.

Should I reach out to Hr or wait till this week?

like

Anyone have compensation experience as a Training Lead with some reports under in cruise industry or in general, what is a fair salary expectation?

Underpaid? 5 years managing 250+ households, working toward my CFP (advisor’s request), conduct meetings in FAs absence, travel to meet clients out of state, cultivated many relationships on my own, work with wholesalers to customize structured notes and trade them biweekly (tedious with the volume we do), manage 40+ SBLOCs (fun when volatile), provide all financial planning services to clients, office management, marketing, did I mention I’m his only staff member? $1M producer - me $65k/year

likefunny

Any idea the salary range for consultant at Deloitte in human capital in New York?

How much will I get from 1.5L benefits provided in CTC from Thoughtworks if I don’t reimburse anything?
Liked fixed in a year?

like

If you are working with a recruiter, what is a reasonable amount of time to wait after the recruiter applies to a position(s) for you before you start to question things? I know this depends on firm response time - just curious how long I should be waiting before I ask what’s up.

like

Hi All! I am currently seeking a remote HR Generalist role. I have a broad range of experience over ~5yrs at a 500 person global tech company. Most relevant projects/programs include developing and leading global CSR, well-being, culture/engagement initiatives, event management, LMS admin, 1yr handling US health/401k benefits, solo office manager for 3 US offices, + 2yrs as AR Specialist (all overlapped). Looking to dive fully into HR, would love to connect or can share my resume. TIA!

like

Interviewed recently with @VillageMD. Anyone have any insight about the remote Medical assistant positions? Preferably someone who does or did work in that type of position with this company. How was the workload? How much time is usually spent on the phone answering calls?

like

What sort of marketing role(s) does a general strategy consulting toolkit make a consultant looking to exit into industry in the marketing function well suited for?

like

More Posts

For those in Strategy & Ops roles - are there any Google certificates that would be a value add for an applicant to have?

like

What do other meteorologists in the private sector get paid? And what kind of work, generally, do you do?

Living in a HCOL area, with 10 yrs Meteorology experience and another 10 years scientific experience.

like

Fishes!
Is anyone here planning for MS in US in Fall 2023? (MS in MIS or MS in Business/Data Analytics)

If yes, pls comment below and let's connect! Thanks!

like

Hi Fishers,
Need your inputs please. I have applied for operations senior analyst in
CBA.It says Support ITSM operations. what is job role more about business operations or fraud, sanction compliance related. Please help. Any information will become a knowledge for me.

like

What is a high paying JD advantage job? I have 3 years of experience as an attorney

like

Would switching from SALT to privacy law as a S1 be a bad move?

How does one get into a hospital position with no hospital experience?

like

Art is a cathartic process for me. It has been a decade or more since I have used charcoal to create. When my students requested it as a unit this quarter, I was mildly excited.

After a few quick sketches, my excitement has grown.

Post Photo
like

Hi All

Can anyone refer me in any MNC, YOE is 8 years, in HR operations, I can join immediately. Please help

like

Which job would pay more in the future? Business Intelligence or Proposal Writing? I am a government contractor so you know what sector in.

like

Highest paying companies in Pune?

How long does it take 'till you feel like you're good at the job?

My partner and I are in our late 20s and spend about $6k a month all in in HCOL area. We gross a bit over $400k annually. Is that reasonable?

like

Did anyone get their start doing work in commercials? I want to try but not sure it is a good route

like

Hi everyone I’m new here to share my side gig, if you are in need of proofreading and editing contact me ❤️

Post Photo
like

Hi guys, i got good comments in my review and feedback was also the same during regular connects in last cycle. But even after being a lateral hire and already completing 2 cycles at ZS, my ratings are barely halfway, whenever i ask about feedback from seniors i always get answers like you are already doing good. Feeling pretty bad about the ratings and seeing people of my tenure getting far better hikes. How do i take this up with my AC without sounding rude?

like

Are valuation allowances always supposed to be tax-effected?

like

Hi all,
I graduated during Covid with a double major in business administration and business management with a minor in marketing and magically ended up in sales because I needed a job. I’m about to take a data analytics course to make an attempt to break into that field. I’m currently looking for a mentor to help guide me during this time. Also, if anyone is willing to look over my resume and give me tips on how to make it more presentable for recruiters in DA that would be very helpful. Thanks

like

I have been selected at citi but HR is unable to release offer letter. This is because I have worked for citi as contractor or consultant in past but I don't remember my SP ID or GP ID which Citi provides to its temporary employees. HR is checking my SP ID or GP ID which was allocated to me in the past but I don't recall it is. HR is checking this with US team and this process is taking time. If they cannot extract it due to some reason, will they release my offer letter? Please clarify this.

like

Additional Posts in Consulting

Ok, Friday confession. Who here actually purchased tickets or went to Fyre fest?

funnylike

Should have been a flag!🤬

likefunny

What did everyone think of Tim’s note to staff?

like

61% utilization as a first year associate. RIP

like

Am I missing something with this corona virus? I saw a statistic the other day that for anyone between the ages of 10 - 60, the death rate is ~0.2%...so what is the big deal? I assume just media hype?

like

You know what I love? Managers that tell you to do one thing and you do it. Then when a Client, SM, or PPMD questions your actions they go SILENT🙃. No support or explanation , and you’re left to defend yourself/actions. You ain’t Casper or a mute, so don’t act like one🗣.

likefunny

Do people actually take lunch breaks? Always done working lunch and wondering if this is the norm...

like

Anyone have any first hand experience of seeing the benefits of putting Big 4 on resume?

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

I can’t take serious any consultant who uses their free work laptop bag. Partner or Analyst. Get your money out! I have no respect for you.

like

Does failing a client drug test -> getting fired from firm?

like

How is everyone planning for potential layoffs?

like

Since when do Sheraton’s give lounge access only to platinum members?

like

I feel I have less patience with others bs now. I’m finding it hard to deal with bs. I think it’s because my job demands so much out of me and I’m expecting the same out of others?

like

Any cool speak easy/cocktail nyc bars that take reservations?

like

Good morning, Patagonia Vest Consultant writing, what songs should I have on my party playlist for tonight?

likefunny

How do I get a free NYT subscription?

Flying back from Seattle for 6 pm flight, anyone want to meet up at the bar?

like

Living and working in ey McLean office?

like

@EY strategy - Currently in Chicago, maybe thinking of New York, LA,or SF. Any drawbacks for the cities? Might want a change from Chicago...

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