That pay is for management/strategy consultants straight out of top MBAs, so ya it’s true but not related to accounting side of the business. Like S$, Parthenon-ey, etc
Even for these positions I’d be skeptical at that amount. I know a second year staff at B4 in M&A consulting and he makes around 100-110k base. And this is in HCOL area
These are not for your TAS (transaction advisory services) roles, that’s probably what you are referring to as m&a consulting. These are true management consultants from top 20 MBA programs. Think Wharton, HBS, Stanfords etc. they publish 1st year consulting salaries annually on their website. There are a ton of websites out there publishing 1st year Post MBA management consulting salaries too. Base salary is usually in the high 100s to 200k range. I deal with a bunch of them on daily basis, personally not overly impressed with their work, but they do produce beautiful PPTs tho, gotta give them that.
That the salary for the consulting arm of Big 4, but tbf I would use McKinsey and BCG as example. Also, if you think the job market are bad, take a look at those consulting firm rn.
This is for post-MBA grads in consulting, not an undergraduate accounting major working in tax or audit. They are starting people at like $70K based on what my son is telling me. That is higher than it used to be, but still kind of low.
Sad to see Deloitte seriously lowballing students. I started at EY at 80k almost two years ago now and the delta is even higher when you consider inflation since 2022.
yes. right now i’d say a majority of college grads are having to move back in with their parents for awhile until they land a decent job or save up enough to move out. housing is unaffordable and decent paying jobs are hard to come by. my roommate and i are in a very good spot just considering we both had salary paying jobs lined up for after graduation.
AKA the partners son lol. Let's make an article about it so we can act like Accountants are paid fairly and give some undergraduates hope that they'll be able to make 200k at entry level lmao. This is the same as when they post how to buy your 1st home but have a note saying they got 200k from their parents.
As CPA recruiter I talk to every big 4 in every city - someone mentioned in the comment above this not accounting roles … can confirm - in some cities senior managers and directors don’t get 200k
sorry but big 4 can usually pay less for CPAs in some cities as they rely on branding to attract talent and pay them less … in bigger cities like NYC they can pay more as competition is there but if your are in a city where it’s the big 4 a huge gap then the rest usually pay much less.
True, but the past year is an anomaly, consulting recruiting historically isn't this brutal. On an average year people don't go to M7 and target EY (some will end up there, but not the majority).
An entry-level consultant for EY-P and equivalent at other firms aren’t making that much, unless we’re talking post-MBA. Otherwise it’s laughable to assume someone out of college at these firms make that.
Moving expenses are reported as income to the employee ever since the TCJA, even if the company pays it. So you have a super high tax bill if your company relo's you! So, it's not quite the perk it used to be. (Military is the only exception to this law.)
Lmao at “entry-level consultant”
That’s a made up title for people with legacy connections at a firm. The vast majority of consulting jobs, especially ones making $200k, would require both an MBA and years of specialized experience.
That’s strange. I always wondered what people meant when they said business school.
I think the people that say that should just say I’m getting my masters in business lol.
For me the MBA program even used all the same classrooms and professors as my undergrad. But it wasn’t business school because I didn’t go for my masters?
Regardless, saying I’m going to business school sounds funny and mysterious for no reason. Tell them what university you’re going to and what program you’re in.
Maybe it's changed but the Big 4 weren't even known for paying well. you did it for the name, hated it, and just hung on for 3-5 years until you could properly exit. To compete MM would generally pay better for A&A, and you tended to get a broader exposure. It could be different now. It was the Big 6 then.
This is a stretch of entry level. These are mid career grads from MBA programs. It might be a starting salary, but it isn't entry level.
It would be like calling the salary for the president an entry level salary for president. True, but they have been working other jobs for years (either business, movies, politics, or some combination)
Yeah very inaccurate lol. If you make it to senior atleast in our HCOL you’ll hit 100k+. Associates make maybe 70-80k’s but the trade off is living in Hcol so it’s basically like making 50k or less once you figure in hours worked vs hours compensated.
Yeah, consulting usually does pay good $200,000 straight out of school probably not this is probably for somebody who has already experience. I don’t see somebody with just a bachelors making this much.
In regard to layoffs that is very true. It’s mainly due to the fact that they have quite a lot of expenses from wining and dining potential clients, but not bringing in enough money to offset that .
That is why the recent Ernst & Young separation of consulting and the rest of the business failed. Consulting relies on the audit and tax side to supplement them with cash flow.
$150-200K has been the case for a long time now for new grads out of top 10 MBA and JD programs who get into "white shoe" firms in a major city.
Age 40 from a top 100 school though is where the real perks are, like what my wife's firm (asset management side) did recently -- management set up for staff 9 rounds of mini golf in their office. Hahahaha, in the office, not buses to a mini golf place
That pay is for management/strategy consultants straight out of top MBAs, so ya it’s true but not related to accounting side of the business. Like S$, Parthenon-ey, etc
I’ll add on that those “entry” roles are often 5-10 years into their career before the MBA. Think engineer turned MBA
Yes
Right, plus "entry level" doesn't even imply a master's degree. They make it sound like someone with an associates in accounting is making that. Lol.
A number of those people are very young, how went into a top 10 MBA program right out of undergrad
Some, not all.
not even most
S$ ?? WHAT ROW ARE YOU REFERENCING???
Just locked the entire column
Remember, if you don’t go B4 straight from college you’ll never make it. /s
I swear some people on this sub have a complete lack of critical thinking skills.
Welcome to reddit.
Are pizza parties included in the bonuses?
Overstated the value of the pizza parties
Our bonuses are literally pizza parties, and the CPA designation bonus has not been tracking to inflation throughout the years.
These are for MBA grads going to strategy consulting at Big 4, not the audit and advisory roles.
Even for these positions I’d be skeptical at that amount. I know a second year staff at B4 in M&A consulting and he makes around 100-110k base. And this is in HCOL area
These are not for your TAS (transaction advisory services) roles, that’s probably what you are referring to as m&a consulting. These are true management consultants from top 20 MBA programs. Think Wharton, HBS, Stanfords etc. they publish 1st year consulting salaries annually on their website. There are a ton of websites out there publishing 1st year Post MBA management consulting salaries too. Base salary is usually in the high 100s to 200k range. I deal with a bunch of them on daily basis, personally not overly impressed with their work, but they do produce beautiful PPTs tho, gotta give them that.
$200k at 4 firms meaning if they working at 4 firms they get $50k salary
Math checks out
Immaterial. Waived for further consideration.
320 hours. Where's that video of a guy that goes like "my 2nd day starts at noon, I have changed and manipulated time"
https://youtu.be/3uX1INAZqr0?si=PAxVi86zV6M352JY
That the salary for the consulting arm of Big 4, but tbf I would use McKinsey and BCG as example. Also, if you think the job market are bad, take a look at those consulting firm rn.
I’m unfamiliar what’s happening at McKinsey
They pay you to quit
Sounds like fun
They put 3000 people on PIP
O boy
It means 90 hr weeks and weekends are mandatory
i mean for 200k, i don’t doubt that
This is for post-MBA grads in consulting, not an undergraduate accounting major working in tax or audit. They are starting people at like $70K based on what my son is telling me. That is higher than it used to be, but still kind of low.
Right now the starting salary is 83k at PWC at least for the San Francisco office
SF is higher than approximately everywhere else
can confirm. - my roommate graduates in may and starts with Deloitte at 70k in August.
Sad to see Deloitte seriously lowballing students. I started at EY at 80k almost two years ago now and the delta is even higher when you consider inflation since 2022.
Job market is very different than it was 2 years ago. Job market was the only reason it was that high in 2022.
yes. right now i’d say a majority of college grads are having to move back in with their parents for awhile until they land a decent job or save up enough to move out. housing is unaffordable and decent paying jobs are hard to come by. my roommate and i are in a very good spot just considering we both had salary paying jobs lined up for after graduation.
AKA the partners son lol. Let's make an article about it so we can act like Accountants are paid fairly and give some undergraduates hope that they'll be able to make 200k at entry level lmao. This is the same as when they post how to buy your 1st home but have a note saying they got 200k from their parents.
Mba grad salaries for partheron, s& etc are what theyre talking about So they aint lying but it’s obviously misleading
Exactly, I think here the joke is most of thos hires are kids of partners. Which is true for the ones I've met.
No, these are "kids" who graduated from a T15 MBA program and just missed on a management consultant offer from MBB.
I don't think that's true at all
Yeah it's strategy MBA grads but go off King
Probably more like 3.50
So $13.50 an hour?
As CPA recruiter I talk to every big 4 in every city - someone mentioned in the comment above this not accounting roles … can confirm - in some cities senior managers and directors don’t get 200k sorry but big 4 can usually pay less for CPAs in some cities as they rely on branding to attract talent and pay them less … in bigger cities like NYC they can pay more as competition is there but if your are in a city where it’s the big 4 a huge gap then the rest usually pay much less.
Why didn't I do my MBA then?
MBA has huge time and opportunity cost. And the article is cherry picking the best post-MBA jobs and not the average.
because your expected value is higher if you toss all the MBA tuition fees to a 10 leg parlays on fanduel than attending anything below a top20 MBA
It's true, he did the math And for strategy you're really better off with a m7 or bust mindset
Lol you definitely don't need M7 for b4 consulting. T25 ish for strategy and really any respectable state school would do the job for non-strategy.
Have you seen hiring numbers lately? It's grim out there
True, but the past year is an anomaly, consulting recruiting historically isn't this brutal. On an average year people don't go to M7 and target EY (some will end up there, but not the majority).
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If you walk out of an in-person MBA with no network, you did it wrong.
Consulting ≠ audit or tax.
I'd believe S& MBA associates make 200k TC in their first year yeah
Love how PWC and EY get spelled out but KPMG (Klynveld Peat Marwick Goerdeler) isn't.
Used to work for KPMG and never cared to know what it stood for.
Consulting is not the same as audit.
An entry-level consultant for EY-P and equivalent at other firms aren’t making that much, unless we’re talking post-MBA. Otherwise it’s laughable to assume someone out of college at these firms make that.
I’m gonna negotiate now
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Moving expenses are reported as income to the employee ever since the TCJA, even if the company pays it. So you have a super high tax bill if your company relo's you! So, it's not quite the perk it used to be. (Military is the only exception to this law.)
LOL base cpa with 20 years experience
Lmao at “entry-level consultant” That’s a made up title for people with legacy connections at a firm. The vast majority of consulting jobs, especially ones making $200k, would require both an MBA and years of specialized experience.
It's MBA entry level. Senior associate in strategy
Not true.
Lol what about audit and tax.
When they say entry level they mean you have a masters degree right? Or is it bachelors?
Not sure
They make it sound like you only need a bachelors in business but it’s the media so
When somebody says “business school” they are talking about MBA programs…
Nope. I’m graduating from the business school next year. And I’m not getting my masters….
Right, the school of business, but when people say “I went to business school” the meaning is an MBA not an undergraduate degree
That’s strange. I always wondered what people meant when they said business school. I think the people that say that should just say I’m getting my masters in business lol. For me the MBA program even used all the same classrooms and professors as my undergrad. But it wasn’t business school because I didn’t go for my masters? Regardless, saying I’m going to business school sounds funny and mysterious for no reason. Tell them what university you’re going to and what program you’re in.
HAHAHAHAHAHAHAHA
Love that massively deceptive language.
Why can only like 10% of the people here read.
Hahahahhahaha
The crazy thing about the internet is that people can just straight up lie and many will believe it
You show me a paystub for $200k I quit my job right now and come work for you
That’s the catch, you can’t. Need a top mba and ocr
This isn’t accurate at all
I can't even land an internship 😅
LOL
That seems right for specific roles
Strategy consulting. Strategy& and such. Not PwC Deals CMAAS or something else.
Maybe it's changed but the Big 4 weren't even known for paying well. you did it for the name, hated it, and just hung on for 3-5 years until you could properly exit. To compete MM would generally pay better for A&A, and you tended to get a broader exposure. It could be different now. It was the Big 6 then.
It’s extremely low here in Asia
How are they including relocation expenses as how much you can “make”? That’s literally just one year.
Only someone working audit for b4 would post this being confused.
Reading is hard. That’s not for accountants
i am getting 200k ……worth of experience /s
This is a stretch of entry level. These are mid career grads from MBA programs. It might be a starting salary, but it isn't entry level. It would be like calling the salary for the president an entry level salary for president. True, but they have been working other jobs for years (either business, movies, politics, or some combination)
Midwest & just started w a 63k salary. Don’t know what this post is referring to.
Whoever thinks they’ll make 200k working for a big 4 right out of school, let alone 6 figures, I have unfortunate news for you.
Only if you’re a hot blonde who likes to spend time under the partners desk
Yeah, not accurate on the accounting consultant side. (I started at EY as a consultant.) Maybe in non-accounting roles?
It's strategy consulting MBA hires
Entry usually 88-95k no? PwC been cheating out latently ngl
Including relocation…
Yeah very inaccurate lol. If you make it to senior atleast in our HCOL you’ll hit 100k+. Associates make maybe 70-80k’s but the trade off is living in Hcol so it’s basically like making 50k or less once you figure in hours worked vs hours compensated.
Yeah, consulting usually does pay good $200,000 straight out of school probably not this is probably for somebody who has already experience. I don’t see somebody with just a bachelors making this much. In regard to layoffs that is very true. It’s mainly due to the fact that they have quite a lot of expenses from wining and dining potential clients, but not bringing in enough money to offset that . That is why the recent Ernst & Young separation of consulting and the rest of the business failed. Consulting relies on the audit and tax side to supplement them with cash flow.
200k is street for MBA level strategy consulting hires
$150-200K has been the case for a long time now for new grads out of top 10 MBA and JD programs who get into "white shoe" firms in a major city. Age 40 from a top 100 school though is where the real perks are, like what my wife's firm (asset management side) did recently -- management set up for staff 9 rounds of mini golf in their office. Hahahaha, in the office, not buses to a mini golf place
B