I have a job offer from EY and I am really pleased as I have wanted to move from independent project management contracting to a consulting/advisory practice.
I have been offered a Senior Consultant position at EY on a starting salary of £55k. The salary is less than I had expected (and a £15k pay cut from my last fixed-term contract in Financial Services which I knew they wouldn't match).
I was originally being considered as Senior Consultant OR Manager but the offer has come in for Senior Consultant because I am moving to consulting from "Industry" and I don't have business development experience in a consulting firm.
I have had the speil from HR that there are brilliant progression opportunities, and promotion to manager could be quick; however I am now doubting the accuracy of that.
So my two questions to the forum are:
1 - Is £55k at Senior Consultant appropriate and a "good offer"?
2 - Realistically what can I expect in terms of progression?
1. The role
I will give you the brief details of my background so you have the full picture
- I graduated from university with a BA in English in 2004, followed by a MA in English in 2008
- I worked as a PA until 2007 (doing MA part time) and moved into Project Management full time in 2008 )6 months before finishing my MA)
- I qualified as a PRINCE2 practioner in 2008 and a Managing Successful Programme (MSP) practitioner in 2009
- I have worked in Project Management since February 2008, starting at PMO administrator level and have worked as a Project Manager/Senior PMO since 2009 as a contractor in Public Sector/Non-Profit and in Financial Services (Banking, Insurance and Payments)
This EY role will be my first role in a consulting firm - is Senior Consultant the right level? I am a bit concerned I'm going to be "old" compared to the other senior consultants and over qualified for the work at this level as I now understand that grad trainees get promoted to this grade from "consultant" after 2-3 years; I had originally thought there was an "associate"/"analyst" level for grads before they were at "consultant" grade (if someone who work at EY can clarify that it would be much appreciated)
I would also like advice on what kind of tasks a Senior Consultant in a Project Management engagement would do - is it low level PMO work (repetitive weekly reporting etc as opposed to work with autonomy and real responsibility/client interaction)?
2. Progression prospects
The recruiter has told me that the hiring partners really like me and they see me as someone who will come in as a Senior Consultant with an expectation of promotion to Manager after 12-18 months.
I am now skeptical about this because, as with most large firms, I think EY has a very structured progression process. Promotions are decided in July/August after performance reviews are concluded, and take effect from October (again confirmation of this would be appreciated). If that's the case, if I start in October 2013 my first "annual" performance review will be July 2014 after only 9 months - as much as I am confident in my technical abilities I feel it is highly unlikely to get promoted after 9 months just on principle as I won't have done a full year in the role.
- Realistically I think my first option for promotion will be July 2015, being effective from October 2015 if I am successful. - is this correct?
- Will this also apply to a pay rise/bonus?
I think I need to know if I am potentially looking at being in the same job grade and on the same salary for the next 2 years so I can make the decision on whether taking this step is right for me; or whether I should turn the offer down and continue contracting/take a job in industry then try to enter consulting at "Manager".
This is a very long and detailed post, but I figure I need to give all the relevant information for people to be able to give me a useful response.
Thanks for your help!