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My post is for a lot of folks here who complain about managers not budging to negotiations and not offering package ,what you are expecting.I have one thing to say,there are lot of ibm employees who moved to kyndryl. Inspite of lot of contributions they are earning meagre salary.Now do you expect these people to hire you for more package most of time the package you are demanding is more than what these managers draw. So pls do not look at kyndryl as any other startup.Thanks.
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Bowl Leader
Elon seems awfully quiet hmmm 🧐
What is the salary for a ‘H4’ band?
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Sounds about right to me
How to be more self-confident?
Rising Star
DM me for a KPMG referral
Ejecto Seato, cuz
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Many reasons: 1. GBP is much weaker than it historically has been 2. Market is smaller 3. UK works less and respect vacation time 4. UK social services and government support is better 5. US has a lot of other competing high paying industries (tech/banking)
Supply vs demand.
(1) Big corporations sell their products to consumers.
(2) US 🇺🇸 consumer is $$$. 🇬🇧 consumer is $$ only
—> Per employee potential for corporations is high —> combined with low supply (less people with good IQ and skills) and tight job market —> higher salaries
M1, yes, I do know that. We don’t have to pay them more because they’re from outside the country.
I think pretty clearly the main driver is the US is the wealthiest country in the world, there’s more that firms are willing to pay for the us consultants who come in, not that normal have teams of uk consultants flying all the way to the US and is too difficult. Because of this, us pays more.
Rising Star
A serious illness can leave you bankrupt in the US.
If you are in any decent consulting firm, it is likely you have pretty good health insurance. A serious illness won’t have a serious financial impact.
Example myself: I was sick and ended up having to do multiple surgeries. The cost was $250K. I paid roughly $500 total in the entire process.
Chief
I thought the same thing until I realized my European counterparts were all taking 3 week summer vacations which would be very hard to do in the US
You can be an analyst in the UK and take 46 days off per year and afford a ski and summer vacation. Lower pay but better pensions and work life balance. We’ve also got unlimited sick days and 1 year maturity pay.
You can’t attribute recent events to this pay differential. It has been this way for the past 20 years at least.
It’s not just UK. SM’s in Canada don’t make as much money as some Managers in the US
Canada is a smaller market as compared to UK I believe , esp if you add Europe to it
Supply and demand
It costs more to retain talent in the US. 100k is entry level for industries competing for talent.
Larger clients who produce more profit are in the US (Silicon Valley, fortune companies)
Had offers from India U.K. and NY consulting at one time. Hands down money matters and USA and Dubai are best places to earn. Better to save a lot so you can retire quickly
All figures in USD. Converted
Chief
Really hard to fire employees in the UK
Not as hard as it is in other parts of Europe like France or Italy.
Cost of education also explains a lot. In the US you have to take on a lot more debt to study. So salaries need to be higher so that people can pay back their debts/ justify the cost of their education.
It’s not just consulting. Every single middle class and up jobs pay more in the US than UK (and other Western EU countries). Nurses in the UK make peanuts compared to the US. Same for doctors. Same for engineers, and on and on.
My observation is that countries with high tax load (50-60% of income going to tax) tend to have lower salaries than comparable countries with lower tax load. I can’t explain it in economic or mathematic terms but it has been my casual observation.
I don’t think it’s easier to move across the EU than across the US (big language barrier across countries in the EU...)
I think companies can “get away” with lower salaries because people literally don’t need higher salaries to be able to live well. If kindergarten/ school/ university at BA and Masters level are pretty much free or at least a fraction of the cost in the US, if you don’t have to worry about unexpected healthcare costs, if unemployment insurance means you don’t have to worry about losing your job because you know you’ll be able to maintain your standard of living and have the time to bounce back (e.g. in France if you lose your job, unemployment insurance is ~60% of your salary for up to 2 years...), etc. etc., then salaries don’t NEED to be as high as in the US because the government is acting as your safety net, rather than your savings.
Weakness of GBP has to play a role. Not that long ago (2007?) that it was worth 2 USD (of course when I was studying abroad there...)
2 USD per pound is a strong pound and a weak dollar
I found expectations aren’t as high in my experience also. The US I believe is more demanding
Might be recalling incorrectly but title structures at D UK and D US are a little different. SM at D UK is more like M at D US.
Yep - think that’s generally right. D UK starts at C too, I think. No BA
Pro
Hey man I’m a manager in the US and I make less than 80k GBP
Figures will vary, Depends if you are consulting. The figure was for an average consulting manager and even some SCs earn more than that.
Is there a Deloitte bowl?
Pro
uhm ... living costs are probably not the same either
Can't compare income dollar to dollar without also looking at cost of living, health care costs, also compare levels and market.
Hell a manager in Cali will make a bunch more than a manager in Tennessee or Kansas.
Someone could live comfortable on 50k in Kansas and 50k in Cali wouldn't allow you to pay rent and buy groceries.
London is more expensive than all us cities except may be 2-3. They get penetrated from both sides.😛
In my field as a SC I make almost as much as a friend working finance in emerging markets in NZ and this friend is in talks of making partner.