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When salary isn't the primary factor...

#1 When salary isn't the primary factor...
04/07/2016 08:10


Just wanted to get some other opinions on this semi-hypothetical situation.

Imagine a big 4 consultant, mid level, in their late 20s or early 30s. Researching this forum and glass door will tell you that person is on a salary in the low to mid £50s with a decent benefits and pension plan. Progression is good, clients are interesting, and this person has few complaints except for feeling underpaid to the market.

You see the problem is, this person is aware of opportunities within their field to move roles. This could be either to another consultancy (maybe a niche or specialist firm) or to hit the interim market. Option 1 would deliver a basic salary starting with a 7, while the interim market baselines at a minimum of £500pd.

The question this consultant might ask themselves is; what's keeping me in my big 4 bubble? And subsequently what is it that would convince me to exit?

I'd love to hear your thoughts.

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#2 RE: When salary isn't the primary factor...
04/07/2016 10:02

Rollercoaster to Richthekeeper (#1)

Marriage, children and the realization that being home in the evening is worth more than money in the bank.

Contracting provides that for some, but doesn't give the certainty that pays the mortgage.

Large Cons Inc provides a good steady salary which is more important for others. This group often leave for industry to work shorter hours / be away form home less.

Although some consultants actually like being away from the wife and kids, and are serial Travel Lodge liaison managers....

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#3 RE: When salary isn't the primary factor...
04/07/2016 21:04

Bushy Eyebrow Partner to Rollercoaster (#2)

I couldn't have said it better myself. Once you have kids, feigning enthusiasm for "the firm" and hanging around in the office until 9pm every night while the team knocks out a PowerPoint that you could have done on your own by midday simply loses its appeal bigtime. You just don't have time for that sort of rubbish any more. Whereas previously you would have stayed behind listening to boring stories from your colleagues about their exciting trip to Prague and you would have bit your tongue while watching some "ology" graduate who is your boss try and coach you about the best way to put together an excel model, once you have kids there is one thing and one thing only that would keep you there, and that's the money - and then it dawns on you, the money's not that great actually. And then you move on.

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#4 RE: When salary isn't the primary factor...
07/07/2016 08:17

Camster to Bushy Eyebrow Partner (#3)


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#5 RE: When salary isn't the primary factor...
29/08/2016 11:22

semon to Richthekeeper (#1)

Yes, this is the eight question.

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#6 RE: When salary isn't the primary factor...
16/09/2016 23:49

moneybags to Richthekeeper (#1)

As a contractor on £158k, I can understand. I think with anything, it's about risk tolerance.

I took a decision to go down the interim route very early on in my career, so as result, my ability to handle the ups and downs that entails makes it easier to handle.

I would imagine those that are older wouldn't be comfortable with the probability of being out of work for 6 months.

Like anything, the earlier you get used life of high risk, the better - it's why starting a business is better when you're younger.

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