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They probably went with you because you were the much cheaper option
No why would they
We aren’t under pressure from clients to lower our rates. Try again
IBB I have no idea who you are and certainly believe you are talking out of your butt.
I have been on plenty of cases where once we hit low margin work, we tell our client they shouldn’t keep using us and use someone like an ACN.
We have value drivers we have to hit for our work. Regardless of margin, if we don’t see impact, our brand takes a hit.
That said, we are not entering low margin work
True! big 4s and other big orgs are constrained with their level and bands loaded costs which restricts their ability to pay beyond the bands.
Bain - we’re going after less low margin business less than McK/BCG - we do much less tech implementation stuff, that’s what IBB is referring to being under pressure, McK and BCG do a lot more there
OP, if you wanted to do strategy work and get paid like MBB, why wouldn't you have joined S& over PWC MC? You can still try to make that move.
Fact is, the type of work strategy and MC does is fairly different. Two different business models and frankly, different quality of talent. Agree that there's some overlap with top performers at PWC MC, but most of that group is not cut out for strategy work and the way those projects are billed reflect that.
Possible! if you possess a niche or hot skill.
I’m just tired of leadership always toting “we are (one of) the largest; we are (one of) the best firms,” to underlings. If they are really serious about it, why not make the salaries competitive?
Supply and demand... MBB could pay higher salaries because their fee structures have historically been higher, but that's changing - they're under significant pressure from clients to reduce rates and from management to grow into lower margin businesses. Some of the most lucrative consulting I've seen is independent / small team boutique (< 10 people) who can fly below the radar, but that carries significant more income risk without a long-term skill/project.
Completely agree top 25% (or something) or B4 could be MBB. Your price point is probably more a function of your weakest link though. We literally can't afford to make a mistake with a bad hire, which is why we might miss some high potential people. Price point and comp or highly correlated. We have fundamentally strategies and positions in the market
Some service lines do. Parthenon for example
Every role is need based. If there is a ‘client’ / ‘grp of clients’ willing to pay a premium then one can command a premium. Typically goes with niche / hot skills.
But there is so much crossover work. What can MBB and boutiques do that big 4 cant’t? I guess the only thing big 4 can’t do is paying their employee lol. I guess I’m just venting.
Because there are plenty of people who want pwc on their resume.
Sorry B1, was painting with a broad brush but B2 captured my point - in the search for growth / scale, there have been sacrifices in average billable rates...
Need to be able to bill for value added and not rates in order to get to that next level comp as staff. Let's be honest though, only comp worthwhile is partner comp anyway
McKinsey tried to compete with us on data work for a large pharma client. Low margin? I think not. Client went with my team
Yeah I mean OP your question is ridiculous. High revenue doesn't mean high margin. I see partners cutting costs at every step in the sales process (changing estimated hours, lowering rates, changing leverage mix for example replacing what should be a M with a senior, etc). Deep down they know we can't compete at the same price point as MBB, so we have to keep our cost of goods sold lower than MBB to survive.
In less than 5 years of leaving I doubled my pay at EY. Boutique didn't even give me a raise every year