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Bored, but probably overpaid

 
forum comment
#0 Bored, but probably overpaid
 
Tomski
10.10.10 00:00
 
Hi guys,To cut to the chase, I'm quite bored. I've done fairly well since joining my current firm, having completed the graduate scheme and then getting a promotion. My current pay is approx £52k (with base, car allowance and bonus). I've been there for 3 years (straight from uni).I'd like to move from industry into consulting, but from reading these forums a total package of £50k+ doesn't seem the norm. On reading some of the Accenture/Deloitte threads, people are getting £50-60k with 6-8 years experience.Do people have experience of their company taking people on at similar salaries with low levels of experience, providing they can prove their value?Alternatively, to keep my income levels, I may have to look into banking/continue in my current role.Sorry for the long winded question, but thanks in advance.
 
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forum comment
#0 RE: Bored, but probably overpaid
 
Tomski
10.10.10 00:00
 
I doubt it makes any difference, but it will actually be 3 years in Jan 11.
 
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forum comment
#0 RE: RE: Bored, but probably overpaid
 
DCF
11.10.10 00:00
 
Congratulations on your progress so far. You have obviously done well and are fortunate to have an employer which recognised that.I'm afraid you are unlikely to be better off in consulting. You would need to go in as a senior consultant for it to be worth your while (and even then, not much in - package would be as you state), and although your existing salary tells it own story most consultancies down to downvalue your non-consutling experience - people sometimes say halfing your experience.A lot of people on this board are trying to do exactly the reverse of the move you are seeking!
 
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#0 RE: RE: RE: Bored, but probably overpaid
 
anon21
11.10.10 00:00
 
To add to DCF's point, even if you did get a higher paying position in consulting, your hourly rate will probably end up quite a bit lower. Seriously, that's good progression for time spent at your firm. Unless there's something beyond boredom bothering you I'd stay. Try and make it known that you're looking for a new challenge, volunteer for stuff, and you may get a bit more excitement down the line.
 
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#0 RE: RE: RE: RE: Bored, but probably overpaid
 
someguy
11.10.10 00:00
 
OP: if the boredom is down to a lack of variety in your role (operational or non-sales), then I would seriously consider challenging yourself in other areas outside of work. There is a whole universe of non-remunerative fulfillment out there. I think we wage-slaves call them hobbies. I doubt consulting is the right path for you as you will be landed in a cookie-cutter role based on your years' experience and even if you come in as a salary outlier you will very quickly be brought into the curve.PS what industry are you currently in?
 
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#0 RE: Bored, but probably overpaid
 
Mars A Day
11.10.10 00:00
 
Sounds like you have progressed well in your current firm and have simply begun to hit BAU Tomski - a move in consulting would make sense?
 
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#0 RE: RE: RE: RE: RE: Bored, but probably overpaid
 
Dodge
11.10.10 00:00
 
Hey Tomski,I am in a very similar spot. Having not followed the conventional Uni route, however, it has taken me a little longer to get to £60k and a similar package. I have been in industry for about 10yrs now but started stacking boxes when I should have been doing my first year at UCL (commitments that couldn't be walked away from scuppered my Uni place!). Once I got into the management track, things moved quickly and I have been promoted pretty much every 18 months to now. Now I am in a comfortable role doing pretty interesting stuff, but doing it over and over again for the same firm. The problem is, the opportunities for advancement are slowing down, and my horizons aren't getting any broader while I sit in the same industry. So, I too have been considering a step into consulting. The key issue is, however, that to get any kind of increase in renumeration, I need to be targeting Manager level roles. While this is not impossible (and I have a wealth of line managerial responsibility and internal consulting/project management experience behind me) most consultancy firms won't consider recruiting someone in at that level without previous 'real' consulting background. This is a difficult hurdle to overcome, and while I am currently interviewing at a couple of large MC firms, I think come offer stage (assuming I get that far!) that there is every chance I may be low-balled or offered the classic carrot on a stick of accelerated development if I can prove myself at consultant level. In short, I think you need to be very clear about your objectives. If it is simply variety you crave and you would be happy taking a new role that might not be exciting until you gain some status and experience (become a 'safe pair of hands'), and you aren't looking for a massive jump in salary then this may be the move for you.
 
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forum comment
#0 RE: RE: Bored, but probably overpaid
 
Mr Cool
11.10.10 00:00
 
Mars,"BAU Tomski" ??I admit it, I'm stumped!
 
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forum comment
#0 RE: RE: RE: Bored, but probably overpaid
 
someguy
11.10.10 00:00
 
T.A.S. (taking a stab) - Business as Usual - ie plateau'd
 
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#0 RE: RE: RE: RE: Bored, but probably overpaid
 
Mr Cool
11.10.10 00:00
 
SISHEMMC;ittbtsmSorry I should have expressed myself more clearly; its the Tomski bit that stumped me...
 
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forum comment
#0 RE: Bored, but probably overpaid
 
anon
11.10.10 00:00
 
Tomski,May I ask which firm you work for?
 
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forum comment
#0 RE: RE: RE: RE: RE: Bored, but probably overpaid
 
Mr Cool
11.10.10 00:00
 
Man - I am clearly going senile - only just noticed that the OP is of course....Tomski.Doh!
 
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forum comment
#0 RE: RE: RE: RE: RE: RE: Bored, but probably overpaid
 
Hank
11.10.10 00:00
 
I was under the impression that circa £50k would be the going rate for 3 years experience.From my ACN friends and info on this board, after 3 years you could be at C2 level, which would put you into that salary bracket.I'm not in consulting, however, I also have 3 years experience and am in the £50 - £55k salary bracket. I've spent some time worrying about whether I was earning below my peers with 3/4 years experience. Unfortunately, a number of them are employed in the financial services sector, so my opinion/views are always biased.What say ye? Is £50k above average for 3 years experience?
 
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#0 RE: RE: RE: Bored, but probably overpaid
 
Mars A Day
13.10.10 00:00
 
Cool, meant BAU, Tomski - business as usual, not some new soviet methodology :)
 
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#0 RE: RE: RE: RE: Bored, but probably overpaid
 
someguy
13.10.10 00:00
 
My engagement could use a healthy dose of Soviet methodology.@Hank: without turning this into a p*ssing contest, yes, £50k for 3 years is somewhat above the normal progression in a non-MBBB, non-IB environment. Either you're on a fast track management programme, or have come into a growth industry with very specific skills. I would expect low-40s for an "average" 3-year consultant, somewhat more for exceptional performance. Market rates for new consulting managers are in the mid-seventies (depends on the firm) and usually demand 6+ years and line management experience. If you are already close to achieving this at your current firm it's unlikely that you can do much better with a consultancy unless you have a very specific USP (skill, contacts book) which none of the 5+ year senior consultants who "paid their dues" possess.
 
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#0 RE: RE: RE: RE: RE: Bored, but probably overpaid
 
Hank
19.10.10 00:00
 
@someguyThanks. Absolutely not looking for this to turn into a pissing contest. Thanks for the response, however, I must point out, I'm not a consultant, so my 3 years of experience are in industry. I guess I'm just comparing myself with the wrong people (bankers and the like).
 
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#0 RE: RE: RE: RE: RE: RE: Bored, but probably overpaid
 
informed
19.10.10 00:00
 
Hank, Tomski: is you're base 50k or is that the value of your package? If it's the latter, what is the breakdown of your package in terms of:- base- car allowance- bonus- other
 
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#0 RE: RE: RE: RE: RE: RE: RE: Bored, but probably overpaid
 
Hank
19.10.10 00:00
 
Base @ 50KBonus 10%Misc other benefits totalling circa 12k (stocks, pension, medical etc)
 
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forum comment
#0 RE: RE: RE: RE: RE: RE: RE: RE: Bored, but probably overpaid
 
someguy
19.10.10 00:00
 
Hank: have a look at the other salary threads on this board if you need a pick-me-up. For 3 years experience that is pretty good.
 
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