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MC's getting greedy with money?

 
#1 MC's getting greedy with money?
24/12/2006 14:38

anon

I read this board a lot and there's a real emphasis on salaries here - where pays best/worst etc. - and a lot of people leaving their job because at 25 years old they are 'only' making 40,000 per year or similar.

Looking around at the graduate jobs market, there are only a few other industries which pay comparable amounts to MC (such as banking) and many other careers which will take 5-10 years+ to even get to our starting salaries (teaching for example).

Do you think MC's are getting greedy? Focus too much on remuneration rather than being at a good place to work?

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#2 RE: MC's getting greedy with money?
24/12/2006 17:06

MC to anon (#1)

No, many MC's came into the career with an expectation (that was accurate at the time) that they would be well-paid. The MC community on average is smarter, works longer and harder, creates more value per head, has worse work-life balance and puts up with lower quality organisation (less line management support, etc.) than comparable professions (e.g. accountancy). Therefore it is reasonable for management consultants (as a profession) to expect to be at least as well paid as those professions. Greed is when you think you inherently are due a bigger share of the pie. Ignoring remuneration as a factor in our motivations is ignoring the elephant in the room.

Having a good place to work is all well and good, but the order of priorities in determining people's engagement is,

1) physical safety

2) fair remuneration structure

3) good place to work (opportunities to grow, etc.)

If the first two aren't in place then it doesn't matter how nice you are to the staff, you won't attract or hold onto talented people.

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