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Compliance (in Banking) vs Consulting

 
#1 Compliance (in Banking) vs Consulting
15/06/2006 15:25

John P

Compliance salaries 2006

Compliance assistant, 1-2 years’ experience: Salary: £30k-£38k; % increase on 2005:+9%

Compliance assistant, 2-3 years’ experience Salary: £38k-£52k; % increase on 2005: +10%

Compliance assistant, 3-4 years experience Salary: £45k-£55k; % increase on 2005: 11%

Compliance manager, 3-4 years’ experience: Salary: £45k-£56k; % increase on 2005:+13%

Compliance manager, 4-5 years’ experience Salary: £48k-£62k; % increase on 2005: +14%

Compliance manager, 5-6 years experience Salary: £50k-£65k; % increase on 2005:+15%

Compliance manager, 6-8 years experience Salary: £53k-£68k; % increase on 2005: +8%

Compliance manager, 8-10 years experience Salary: £55k-£70k; % increase on 2005: +7%

Head of compliance, 8-10 years’ experience: Salary: £75k-£100k; % increase on 2005:+2%

Head of compliance, 10-12 years’ experience Salary: £87k-£160k; % increase on 2005: +3%

Source: PSD Group

Does these mean even compliance staff even make more than most of us consultants at all levels?

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#2 Re: Compliance (in Banking) vs Consulting
15/06/2006 15:29

John P

These excludes reported 80-100% bonus at Head level.

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#3 Re: Compliance (in Banking) vs Consulting
15/06/2006 15:42

Another Anon

Depends what consulting firm you are working for. In my opinion these figures are about average for IT consulting and well below average for Strat firms.

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#4 Re: Compliance (in Banking) vs Consulting
16/06/2006 00:38

Billy Bikboliks

Looks like it!

Very boring though...

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#5 I dont know where youre getting your figures from....
16/06/2006 14:27

michael

I cant uderstand: youre saying that compliance earns mmore than consulting?? im sorry but i have to disagree. i dont know in what company / kind of consulting you work in but these are the pay rates in my world.

0-2 years: 35-40

consultant 2-5 years: 40-65k

manager 5-8 years: 75-100K + bonus (10%)

senior manager 8-10 years experience: 85-160k (+ plus bonus up to 35%)

partner 10-13 years: 300k basic, plus stock, plus share of profits - total package around 500K.

and we dont even pay at the top quartile: deloitte figuers add 10% and for partners basic is 690K this year...

sorry but its not the same as compliance!

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#6 Re: I dont know where youre getting your figures from....
16/06/2006 15:18

DC

What are these figures for?

Deloitte pays well at Partner level to be sure but pays nothing like those figures at the grad to manager grades, let alone 10% over.

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#7 Re: I dont know where youre getting your figures from....
16/06/2006 20:18

John P

Hi Michael,

Are the figures you are displaying for top-tier strategy firms or boutiques?

I work in a full service consultancy. And from my enquiries and subtle questions, I think the range in full service consultancy is as follows:

Analyst 0-2 years: 30-45 (no bonus)

Consultant 2-4 years: 45-55 (no bonus)

Manager 4-7 years: 55-85 (bonus up to 10%)

Senior Manager 7-10 years: 85-110 (bonus up to 20%)

Partner 10+ years: 130+ (bonus up to 75%)

*I know for Delloite the partner figures are much higher.

Considering that in Compliance bonuses range from 25% at junior levels to 100% at head levels. They pretty much appear to be up there in pay with us.

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#8 Re: I dont know where youre getting your figures from....
16/06/2006 22:58

michael

hi

the salaries displayed are for the cosulting / advisory division of one of the big 4, obviously not deloitte.

salaries for top tier strategy houses are higher. mercer oliver wyman pays greatly more: a consultant with 3 years experience will be on 70k with 60% bonus and there on up.

an important factor to consider however is working hours. i average 50/60, bcg and bain will probably average 65/70 and mercer oliver wyman is very similar to investment banking. if youre intersted in changing company and have good high level consulting experience, let me know

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#9 Re: I dont know where youre getting your figures from....
20/06/2006 09:25

John P

Hi Michael,

Thanks.

Please pop me an email on flavourbooks@hotmail.com

I have less than 2 years experience so I think the chat will be more around future direction rather than jumping ship.

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