Would you switch if you were me? I am Currently at Accenture Strategy (L9), second year consultant. Just received an offer for senior consultant at Oliver wyman, but compensation is the same (no sign on bonus). Wondering if making the switch is worth it. Pros: I think would have the opportunity to work on more interesting projects, as well as get 100% of my MBA financed. Cons: I have a feeling I am being low balled and there is risk involved on making a switch
Agree with A1, but would also add that OW will probably pay you more over the long run. You can also try negotiating for higher salary/signing bonus
I know in the long run I would probably get paid higher.
One thing worthy of mention is that I would probably stay on that level 1 year, where at ACN I would need more 2 years until promo.
Next level pay for OW and ACN strat (Associate at OW and manager at ACN strat) is the same
If pay is the main thing stopping you from moving, you should know that Oliver Wyman pays bonuses based on performance. I know consultants who will make 30%+ bonus. I am getting promoted from EM to Principal and expect to make at least 50% as a bonus.
There are other reasons not to join OW though. E.g., you aren’t interested in the type of work.
I’m not a part of the Private Capital team but I can offer two perspectives that might be helpful if you are thinking about joining that team.
1) The team works longer hours on average but promoted a lot of people this year.
2) Private Capital is an investment area for the firm so the opportunities are only going to increase.
DM me if you want to speak about this some more.
Thank you, your comment was very helpful.
My friend who’s a partner at OW says they are crazy understaffed. There’s no good reason for them to not offer you a signing bonus
Can confirm that everyone coming into OW gets paid within the same pay band for their level. There is some margin depending on if you come in as a SC1 vs SC3 (difference is like 10K max). If you look at most experienced hires they weren’t brought in a level higher than what they currently are. Will say your progression can be pretty fast depending on your performance. I’ve been promoted each year I’ve been here
Accenture Strategy person here. I would recommend switching for 2 reasons: 1) OW is going to offer you a much higher EOY bonus than you’ll prob get at ACN , 2) exit opps coming out of OW > ACN Strat.
Org is so big and getting bigger, shareholders are a priority and acquisitions and the very top is where all the $ goes. Jump to OW and don’t look back
Take it but try negotiating. I’m at ACN Strategy now and looking to leave
^ second. It’s a sinking ship
I would switch in a heartbeat. ask for a sign-on bonus. they may not give it to you, but that delta (if there's any) can be more than made up with your first year bonus. good luck at OW!
Pro
I personally would only switch for MBB, OW pays pretty bad at those mid levels. Maybe it's worthwhile if you want a longterm career in consulting.
Going from T2.5 to T2 isnt really that beneficial for exit opps or Bschool, compared to the effort of rebuilding network.
I agree with your thoughts. Thanks for posting
OW brand > ACN for strategy work - stay at ACN if you want more tech strat/ tech implemtjation work
There’s an M&A practice within Accenture Strat, and getting into the Accenture Scholars program (getting Accenture to essentially pay for B-School) is notoriously easy. For the same pay, losing your existing network and having to start from scratch for a year or two before leaving for B-School, it would be a no-brained for me to stay.
Does ACN pay for 100% of the tuition fees?
If pay is the same, why bother switching? I would stay put until I find another opportunity that increases pay.
Indeed, I was hoping for an offer with at least +20% bump
I would make the jump
Please, could you elaborate a little further?
I wouldn’t, wait it out for a better offer
TC is around R$270k (BRL)
OW private capital is a sweatshop. Many of the CCG (generalist consultants) avoid being staffed on private capital projects. I guess if you’re interested then go ahead. Just know the WLB is terrible.
I currently work around 70+ per week at ACN this hasn’t been a problem so far
I would not switch - Just based on the speculation that I might get better projects there.
The reasoning behind it is that I would be aligned with in the private capital practice (mostly doing M&A work). I have previous M&A experience and I am interested on this type of projects.
This is a workers market and you should be able to get paid more. I would not leave a job for more responsibility but same pay. Even if the OW bonus is higher I wouldn’t count on it in the first year unless it is explicit in your offer letter. You need to get everything written down.
Good suggestions, thank you
What’s your current TC?