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FS Strategy Manager Salary

 
#1 FS Strategy Manager Salary
31/03/2016 22:56

Ionut

I have been offered a Manager role at a Financial Services strategy house with a £95k base that is open to negotiation. The Partner who offered me the role said the Firm pays more than Big 4 but less than MBB. I checked with friends at MBB and it seems Bain pay their managers c.£110k, Mckinsey pay c.£115k and BCG pay their managers/project lead c.£120k.

The career levels above my offered role are Principal and then Partner, my current compensation is £90k base with a 30% bonus last year. I am excited about the new role but want to make sure I am coming in at the right comp. Would any people working at the Big 4 kindly share what Managers/Senior Managers within the FS practice earn as a base?

Thank you in advance!

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#2 RE: FS Strategy Manager Salary
01/04/2016 07:59

Bushy Eyebrow Partner to Ionut (#1)

What will the hours be like and what bonuses have they paid historically?

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#3 RE: FS Strategy Manager Salary
01/04/2016 10:41

Ionut to Bushy Eyebrow Partner (#2)

FS consulting so expectation of 11-12 hour days, bonus c.20-30% of base.

Thanks

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#4 RE: FS Strategy Manager Salary
01/04/2016 13:03

Jack Black to Ionut (#3)

FS consulting so expectation of 11-12 hour days,

Why is this an expectation?

I work in FS consulting - 45 hours a week on average see's me through.

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#5 RE: FS Strategy Manager Salary
01/04/2016 17:34

Ionut to Jack Black (#4)

Thanks Jack, I had previously worked at MBB in FS consulting before moving to Industry and now considering a move back.

Perhaps you could provide more info such as the type of firm you work for in FS (MBB/Oliver Wyman FS, Big 4, Boutique), your career level and base comp?

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#6 RE: FS Strategy Manager Salary
02/04/2016 02:18

Dan! Dan! Dan! to Ionut (#5)

Life's too short for a 12-hrs-a-day base-case expectation.

Me:

Strategy Director, CPG in-house

£120k base +30% cash bonus +50% Long-term incentive (both target, can be exceeded)

My typical day:

0730 alarm and spend time w/my kid

Jog to work, shower, coffee + pastry

At my desk between 0930-1000

Typically out the door at 1730, rarely later than 1800,having eaten lunch at a proper table and had plenty of time to attend to personal errands.

Occasionally catch up on emails at night over a lagavulin.

Weekend work almost unheard of

Wouldn't go into consulting for twice the money, let alone half.

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#7 RE: FS Strategy Manager Salary
03/04/2016 20:27

Ionut to Dan! Dan! Dan! (#6)

Sounds a great work-life balance Dan! Perhaps you could share you career route to your current role? I initially spent 3 years in industry(banking) before 2yrs FS at MBB then back to industry for a year and now considering a move back to FS.

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#8 RE: FS Strategy Manager Salary
04/04/2016 22:44

DCF to Ionut (#1)

They can't reasonably expect you to move for a £5k bump.

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#9 RE: FS Strategy Manager Salary
06/04/2016 12:01

Bushy Eyebrow Partner to DCF (#8)

some really good salaries being talked about here! impressive!

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#10 RE: FS Strategy Manager Salary
18/05/2016 10:11

StratMan to Bushy Eyebrow Partner (#9)

you want to work with the employer that pays the most!

http://www.dailymail.co.uk/news/article-3574250/Forget-banking-wages-paid-staff-German-software-firm-announced-highest-paying-company-UK-average-salary-90-000.html

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#11 RE: FS Strategy Manager Salary
18/05/2016 10:39

Bushy Eyebrow Partner to StratMan (#10)

It depends which average they are referring to... it could be highly distorted by exceptionally well paid senior staff

A company could have 100 employees each earning £20,000 and a board of 5 directors each earning £3M (thinking here of something like a startup or a bank where those at the top get a large bonus or sell the company or something). The average salary could be said to be £162K.

Similarly with a bank, one or two MDs with a bonus of £10M can increase the average despite there being hundreds of low-paid clerks

But it's a very good point, I can't imagine SAP's most senior managers being on mega mega mega pay packets (just mega maybe) so the average indeed is probably very high! There's so much money floating around in these companies

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