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acn pay

 
#1 acn pay
15/11/2006 21:44

bombay

can anyone tell me how much to expect at accenture when finishing the two-year grad scheme in UK?

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#2 RE: acn pay
16/11/2006 13:22

ANon to bombay (#1)

Low 40's

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#3 RE: acn pay
16/11/2006 13:48

Bob to ANon (#2)

Disagree.

Following recent change to compensation model you are looking at low-mid 30s. Hence the high current levels of attrition.

Also, bear in mind that minimum time-at-level required before being eligible for promotion from Analyst to Consultant is 24 months. With promotions happening once a year, if you join just after the promotion date you will be looking at 3 years before you get to consultant (and get the resulting pay-rise). Worst case: 2.9 years after starting you will still be on less than 30k (while the accountants have qualified and are getting job offers for 50k).

NB. there is always the possibility of early promotion.

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#4 RE: acn pay
16/11/2006 17:44

Jonny to Bob (#3)

Bob is pretty much spot on here - the 'worst case scenario' is not all that unlikely either. If you were rated "Consistent with peer group" in both years you would get a 2% pay rise each time, leaving you with a salary of £29,651 after 2 years.

As bob says, if you joined just after the promotion date (september) you'd remain on this salary for almost another year as well. If you were rated "below peer group" you'd still be on the starting salary of £28,500

Best case scenario: Those rated "significantly above peer group" would get a 10% rise at the end of the first year, taking them to £31,350. They would then be a candidate for early promotion - I'm not sure what the current C1 salary range is but I'm sure someone can enlighten us. Bear in mind this happens only to the top 5% though.

You also get the sign-on bonus - 6k at the end of your first month and 4k at the end of your 12th month.

At the moment, if you add on the bonus it is still a pretty good starting salary. However, if you don't get promoted the 3rd year salary looks pretty poor!

Finally, I feel I should dispel the myth that this is a "grad scheme" - after initial training you are chucked into your first project and that's about it - apart from a nice trip to chicago it's unlikely you'll get any more formal training in your first couple of years. There's no defined "scheme" as such.

Didn't mean to write so much - hope this helps!

PS - if anyone at analyst / C1 level in any of the other big firms is reading this, how do your salaries compare? I would be very keen to find out whether the current low morale at accenture is justified!

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#5 RE: acn pay
16/11/2006 18:27

samuel to Jonny (#4)

C1 equivalent at BAS (EY) 46k, no bonus, no medical, 25 hols and thats it. medical is circa 40 a month.

I came from acn after just over 2 years of experience in CHT

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#6 re:
16/11/2006 19:00

acc.applicant to samuel (#5)

I'm about to start at Accenture and was under the impression that the standard route was 2 years as analyst and the consultant c1 for which your on circa. 40k.

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#7 RE: re:
16/11/2006 19:53

curious peter to acc.applicant (#6)

congratulations. you have been mislead by accenture. welcome to the club!

consider applying elsewhere before you join?

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#8 RE: re:
16/11/2006 22:01

acc.applicant to curious peter (#7)

Believe it or not, I am. There's a few IB's and consultancies who don't start interviewing til around November/December time I'd applied to. It's nice that there's a job waiting if it doesnt work out though and the applications are done a while ago.

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#9 RE: re:
17/11/2006 15:39

Jonny to acc.applicant (#8)

To acc.applicant - Until this year I think you would have been correct - you were guaranteed around a 10k pay rise on promotion to consultant. But it's definitely not the case any more.

Also - promotion to consultant after 2 years is definitely NOT a given, this is the minimum time at level, unless you are an exceptional case.

I think attrition after the first two years (which is already high) is going to skyrocket. Nobody reasonably expects to start a job and get paid LESS in their 3rd year than in the preceding two years. However this is the situation that many analysts are finding themselves in.

We can only hope that enough people jump ship to scare the partners into giving the rest of us a fat pay rise next year!

Finally, just for the sake of giving a balanced view, I must confess that you do get a fairly decent benefits package at accenture - 30 days holiday and medical insurance.

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