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Why do the big 4 pay so poorly at junior ranks

 
#1 Why do the big 4 pay so poorly at junior ranks
17/01/2010 01:19

GG

Need some insights as to why the big 4 pay poorly for junior people. For instance, post MBA employees with a few years of work experience getting graduates salaries.

This is not me...for a friend i want to advise...

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#2 RE: Why do the big 4 pay so poorly at junior ranks
17/01/2010 07:25

kernelblimp to GG (#1)

This is a very serious point and deserves a serious and considered answer. I think you'll find its due to where the Big 4 recruit and the relative value propositions of employer and propsective employee. The big 4 tend to recruit MBA graduates from places with "emerging" reputations, for example the Big Mac School of Business at the University of Dagenham. Though a fine institution with alumni in many international corporations (such as KFC, Burger King, even some at Pizza Hut) there is little on-campus recruitment competition from rival employers such as McKinsey, Goldman Sachs, Spearmint Rhino (this is an equal opportunities posting) and Dagenham MiniCabs. These employers tend to be more selective in their recruitment and look elsewhere. So we have a situation where the employer can afford to offer little as they have little recruiter competition, and the prospective employee is forced to accept little as they have no alternative, many already having sold one kidney to fund their overseas education experience. In this way a satisfactory bargain is struck and a market clearing price is found. So though it may appear that the big 4 pay poorly, the reality is they pay exactly what "their" market can bear. No why this means that they all must all wear such poorly made polyerster double cuff shirts with Primark cufflinks I don't know, but I hope this will be helpful for your friend.

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#3 RE: Why do the big 4 pay so poorly at junior ranks
17/01/2010 13:42

jj to kernelblimp (#2)

Everyone has a degree so ambitous young business people looking for an extra qualification headed for the MBA and every university responded with no quality control: Result massive oversupply of MBAs.

Also the MBA qualification is not necessarily relevant for much of the big 4 work. Frankly a graduate can draw process maps just as well as an MBA. So no need to pay extra.

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#4 RE: Why do the big 4 pay so poorly at junior ranks
17/01/2010 17:37

Cal to GG (#1)

Supply and demand. It's as simple as that my friend. With or without an MBA from a top school tacked on, there is an excess of candidates with only a couple of years irrelevant or low quality work experience. Their networks from b-school are not at a level to buy, and they do not have the gravitas to sell. There is therefore little value they can add to the employer's business beyond what an undergraduate with equivalent time on the job can add.

N.B. this is not unique to Big4 or consulting. An MBA does not increase your market value overnight. You still have the same experience and evidence on your CV as when you went into the MBA programme. It is only after you demonstrate the ability to apply your MBA-learnings that your earnings rise. Remember that the figures quoted for salary increase are typically 3-6 years post-graduation, sometimes more.

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