being interviewed with a retail bank for PM position that pays the salary of around £55K, do we know what other benefits these banks pays?what sort of level/ band I will be joining? Is it too junior position that pays only £55K basic?-BPM

An extract on a similar post some time back (see post 60592)"Bonuses at Manager will not be impressive (probably OTE of 10% of base – and these may be subject to deferral or claw-back at the government controlled banks – LTSB/HBOS, Northern Rock, RBS). You can count on a London allowance of 3K where relevant and perhaps a car allowance of about 350-400 a month. Most banks run a flex-benefits package of between 3%-5% of base salary and offer single health insurance as standard. There is a fairly good pension culture at retail banks. Final salary schemes are all closed to new employees, but it is not unusual to see an employee contribution of 5% matched by 10% from the bank. Stick with it for 20+ years and you will end up with a fairly good pension pot. A number of banks also offer a subsidised mortgage at base rate, which is of more value in higher interest rate periods, when spreads are greater. Thsi is a taxable benefit, of course. Working culture is good, although progression is more muted than at the up-or-out MBB consultancies. Holiday entitlement is generally 25-30 days plus bank holidays and there is next to no chance that you will find yourself working weekends"

thanks Mr. cool,Now the context is an M3 ACN manager earning a package of £100K wants to move into industry. I appreciate Industry won't pay me same as ACN however is a base of £55K reasonable when compared with a base of £80K with ACN?Shall I let this opportunity go considering even after their generous pension they would no where be close to what I am currently getting at ACN.regds

Hang on, I thought FS was the ONE industry where pay would be consistent with consulting? 30% salary cut seems a pretty steep sacrifice to jump ship from ACN. It sounds like a C3 equivalent position, so it looks like a bad deal to me.

OP,someguy makes a very good point. Given the gradual erosion of the historical premium paid to consultants, one would now expect to be able to move into banking without having to take a 30% cut, although the comparison does have to total package against total package. Unfortunately retail banks do not pay their PM's very well, which is why they have so many poor PM's. Thankfully that's why they pay me so much - to kick their collective ar$es into gear.To make an 80K base salary at a retail bank, you will need to be at the bottom end of the pay scale for a "Head of" position. In Change Management or Project areas this would mean either...Being the Head of Change for (e.g.) Credit Cards/Savings/Internet Channel/etcORBeing a heavy hitting Programme (not project) Manager running some of the bigger programmes (e.g. BASEL, part of the LBG or Santander integrations)55K is about right for a PM.Unless you are desperate to leave, I suggest you stick it out at ACN for another 12-24 months and then move to a bank in a Programme Manager role.If you do that you need to make sure your next 24 months at ACn give you what you need to achieve that.