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salaries

 
#1 salaries
25/08/2005 10:31

canuck

working as a senior consultant (with 6 years experience) in a boutique strategy house in the city - earning about £50K. Is this reasonable? or am I being drastically under paid?

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#2 Re: salaries
25/08/2005 11:04

Anon

Hard to tell realy without knowing the nature or type of boutique. But on average I would say so yes! Does that 50k include bonus? what type of bonuses can you realistically get? What are your other benefits etc? Without knowing these its hard to formulate a reasonable opinion but my gut insticnt would be yes you are being under paid!

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#3 Re: salaries
25/08/2005 15:42

Money

I think you should be on £70k. See my responses to other guy to see why.

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#4 Re: salaries
25/08/2005 15:46

george

mate youre just talking rubish. if by botique you mean mk bain bcg then you dont work there. senior consultant (6 years plus) is around 75k plus another 40 of bonus plus benefits. to the email down below, graduate salaries DO NOT have bonuses in big mc companies ie anc deloitte capgemini until manager level (+7 years experience). you want big salary this is the wrong profession, partners exluded

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#5 Re: salaries
25/08/2005 17:27

Geff

George are you saying that as a grad, if i joined PA or Deloitte I would get no bonus at all in my first few years?

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#6 Re: salaries
25/08/2005 17:30

DL

You certainly would not see a bonus at Deloitte (or indeed Accenture or CapGemini - unless things have changed in the last few years). On the other hand, you may get generous allowances and perks (pension etc.) that more than make up for a 10% bonus in monetary terms...

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#7 Re: salaries
25/08/2005 17:37

Geff

Really...ive been misinformed...think ive been had. What about PA. I was interviewd there and they say bonuses are usually better than the industry average? Can someone from PA shed any light or anyone in the know. So as a graduate, i'll see nothing but my base salary and whatever nonsense bonus they dish out. No wonder Investment Banking is the prefered choice amongst grads. Irrespective of how hard a fresh grad works it makes no difference!!

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#8 Re: salaries
25/08/2005 19:43

Money

Either you guys (especially George) are really stupid, or me and all the other consultants I know, are damn lucky! I've been getting bonuses since the day I started as a grad, as have my colleagues. Not too sure about Deloitte, but I know of ACN, PA, CG giving bonuses early on. I mean, who the hell would wait till manager level to get a bonus??! Are you guys getting done? Because it seems so! Grad - If you want a big salary, YOU CAN GET IT in consulting, provided you're smart, adaptable, and know how to work the systems.

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#9 Re: salaries
25/08/2005 19:51

Geff

Money, thank you for setting the record straight. I thought as much. It would be unproductive it firms didnt reward grads to excel. Could you elaborate on 'know how to work the system'? What kind of bonus did you/ can one on average earn as a grad? Cheers. Thank god someone is informed!

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#10 Re: salaries
25/08/2005 20:01

John P

Money, please when indicating the bonus levels to Geff, could you please be specific on the bonus at CapG, if you can. I would like to know the bonus for a first year up to the third year at CapG and what is the range of pay for a consultant with 3 years experience at CapG.

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#11 Re: salaries
26/08/2005 12:55

Action Man

Guys, first of all, can I please just inform you of the worst kept secret in consultancy pay packages: there are no set salary bands – it’s all very elastic.

What I mean is that a person with 5 years experience could be on £50k whilst another could be on £75k. They could both be the same grade in the same firm! I know this seems hard to believe, but please try anyway! There is always an assumed career progression in consulting, but it doesn’t always work that way. Consultants make their own mind up of how they want to work/or get worked by the firm. Working the system is all about making sure you SHOW the value you add and that you know what you’re worth to the firm. Once you’ve got a proven record of doing good work and know what you can get for it, start building a business case for more money. And you will get it.

At graduate level, salary and responsibility is obviously more structured and set. But once “graduated” you should take control of your own career, don’t think you need to follow a certain path. Apologies, but I don’t know the exact figures for CG. Maybe you should ask this separately as a new thread.

P.S. I never got below 10% bonus...I think 8% should be minimum. On £30k, its still under £3k, which isn't too much to ask!

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#12 Re: salaries
26/08/2005 13:07

Geff

Just curious to know where you work? Fo you not think that pay should be transparent. Not neccessarily know what your colleagues personally are earning but at least know the bottom, medium and top level salary at each level in each dept?

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#13 Re: salaries
26/08/2005 13:24

DL

Absolutely right on the value delivery and taking control of your own career. Salary bands do exist, though, even in relatively unstructured firms and even for partners. They are wide and somewhat elastic, but not infinitely stretchable. On the other hand, if one takes the approach you describe and delivers measurable value, at some point you will be promoted...

8-10% at career start resonates with what I have seen; the point I am trying to make is: it won't be much higher than that, and think about what you may be giving up for £2500 in your pocket in another company where you may enjoy the work more.

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#14 Re: salaries
26/08/2005 15:33

Money

No probs. I think your question has now been answered below! I agree that 8-10% bonus is achievable - along with a starting salary of between £28-30k for a fresh out grad. Hope this helps...

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#15 Re: salaries
26/08/2005 16:19

John P

Thanks, guys and girls!

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#16 Re: salaries
26/08/2005 17:00

John P

Money (or anyone else), I will still be interested in knowing the salary range for a consultant with 3 years experience at CapG, if you are privy to such info. Or better still, the salary range for those in the ranks of "Consultant" and "Senior Consultant". Thanks.

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#17 Re: salaries
26/08/2005 18:02

Diggler

Look. The point that you need to get is that in any sensible consulting firm only the starting salary levels are set in stone. Once you have moved on it's all about the value you provide to the business and how well you can argue your case. In direct terms think of the day rates your being charged at and what margin your employer is prepared to accept on that.

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#18 Re: salaries
26/08/2005 18:03

Fred

Salary discussions are kiddy stuff

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