• Sharebar

Does anyone know the starting salary and signing bonus (ballpark) at PwC advisory for this years undergrad class? Thanks in advance.

Comments (84)

  • In reply to WSO_Ninja
    manbearpig's picture

    WSO_Ninja wrote:
    manbearpig wrote:
    50K base, 5% year end bonus. No signing bonus.

    Is that even minimum wage?

    If you start straight from college, the pay at the big4 is absolutely garbage regardless of whether it's assurance or advisory or whatever. For advisory, maybe it's not 50K, but I know it's definitely under 60K, and of all the people that I've met, no one got a signing bonus. And bonuses at that level are capped at 5%.

    -MBP

  • marcellus_wallace's picture

    Remember when we were graduating my buddy who turned down BB trading in London. Was shocked at what a big4 consulting offered him, he called them bitched. He even talked to HR for hours explaining the $$$ he turned down and his resume.

    End result = no wiggle room..strick policy for all new hires out of school.

  • In reply to papeete
    manbearpig's picture

    papeete wrote:
    manbearpig wrote:
    50K base, 5% year end bonus. No signing bonus.

    mpg; are you at a big 4?

    op: 53k . no sign on. no relo. It's like $16.5/hr for avg 60 hr week.
    Just to put this into perspective.. the manager at your local Whole Foods makes over $61k...

    My name is manbearpig. Not milespergallon.

    lol, anyway. Yes. I am a Senior Consultant at Deloitte S&O. My Salary is quite good for someone my age (100K base = 120Kish all-in), but it's because I lateralled in and I'm a good negotiator.

    -MBP

  • Al Bundy's picture

    What others are saying sounds about right. My friend is working at EY (similar firm) in a small market (PNW) city and is only making 45k after Masters in Accounting degree. Didn't ask about bonuses and whatnot, but definitely don't do it if you're looking at becoming rich.

    Pretty women make us BUY beer. Ugly women make us DRINK beer.

  • In reply to marcellus_wallace
    Status_Quo's picture

    marcellus_wallace wrote:
    Remember when we were graduating my buddy who turned down BB trading in London. Was shocked at what a big4 consulting offered him, he called them bitched. He even talked to HR for hours explaining the $$$ he turned down and his resume.

    End result = no wiggle room..strick policy for all new hires out of school.

    Why would he turn down the trading offer?

  • In reply to manbearpig
    Status_Quo's picture

    manbearpig wrote:
    papeete wrote:
    manbearpig wrote:
    50K base, 5% year end bonus. No signing bonus.

    mpg; are you at a big 4?

    op: 53k . no sign on. no relo. It's like $16.5/hr for avg 60 hr week.
    Just to put this into perspective.. the manager at your local Whole Foods makes over $61k...

    My name is manbearpig. Not milespergallon.

    lol, anyway. Yes. I am a Senior Consultant at Deloitte S&O. My Salary is quite good for someone my age (100K base = 120Kish all-in), but it's because I lateralled in and I'm a good negotiator.

    LOL at mpg.

  • Arpster55's picture

    I don't know where manbearpig is getting his source from but I have a completely different data point. ~60K base. 3K signing. end of year bonus is prolly a few percent or so but not too sure.

  • In reply to Arpster55
    manbearpig's picture

    Arpster55 wrote:
    I don't know where manbearpig is getting his source from but I have a completely different data point. ~60K base. 3K signing. end of year bonus is prolly a few percent or so but not too sure.

    Well the difference may be because I'm in Toronto, but this is all first hand information from my colleagues.

    -MBP

  • In reply to manbearpig
    thedude86's picture

    manbearpig wrote:
    WSO_Ninja wrote:
    manbearpig wrote:
    50K base, 5% year end bonus. No signing bonus.

    Is that even minimum wage?

    If you start straight from college, the pay at the big4 is absolutely garbage regardless of whether it's assurance or advisory or whatever. For advisory, maybe it's not 50K, but I know it's definitely under 60K, and of all the people that I've met, no one got a signing bonus. And bonuses at that level are capped at 5%.

    im sure you were making roughly the same when you graduated school...before you lateraled into deloitte.

  • In reply to thedude86
    manbearpig's picture

    thedude86 wrote:
    manbearpig wrote:
    WSO_Ninja wrote:
    manbearpig wrote:
    50K base, 5% year end bonus. No signing bonus.

    Is that even minimum wage?

    If you start straight from college, the pay at the big4 is absolutely garbage regardless of whether it's assurance or advisory or whatever. For advisory, maybe it's not 50K, but I know it's definitely under 60K, and of all the people that I've met, no one got a signing bonus. And bonuses at that level are capped at 5%.

    im sure you were making roughly the same when you graduated school...before you lateraled into deloitte.

    No, I was making considerably more. 70 base and about 90 all-in. Bonuses at my old firm were 25-30% at my level.

    -MBP

  • _bird_'s picture

    I don't think it's fair to compare Deloitte S&O to PWC Advisory. Deloitte is the only big 4 firm with a true consulting arm. The other firms all abandoned their consulting practices following SOX. The advisory practices at the big 4 firms include valuation, ts/fdd, internal audit, risk, transfer pricing, etc. Not traditional consulting services as compared to MBB.

    When I started in big 4 audit, my total first year comp included salary of mid $50k, $5k sign-on, and $5k cpa bonus. This was not NYC. I had a friend who started in advisory (valuation) the same year as I started, and his salary was $3-4k higher with the same sign-on. I know on these boards that total first year comp will not be impressive in the slightest, but those are the facts. also, i know the big 4 firms have or at least started to bypass on offering new hires sign-on bonuses.

  • In reply to manbearpig
    LAbasedFinance's picture

    manbearpig wrote:
    Arpster55 wrote:
    I don't know where manbearpig is getting his source from but I have a completely different data point. ~60K base. 3K signing. end of year bonus is prolly a few percent or so but not too sure.

    Well the difference may be because I'm in Toronto, but this is all first hand information from my colleagues.

    MBP, aside from having an incredibly awesome name, has been accurate in his posts on salaries. Salaries for Big 4 advisory/"consulting" associates out of school are $50-$55k plus bonus. Last couple of years bonus has been near zero but prior to '09 was up to 25% and should get closer to that this year. Even Deloitte's S&O group does not pay considerably more than the other three. Some may argue it is but it's maybe $20k most and when you're a senior consultant/manager making six-figures that percentage isn't that large.

    Salaries jump up fairly quickly and those starting at $50-$55k should be around $100k base in five years (plus bonus) - not great compared to IB or say true consulting but compared to audit/tax groups that work alongside these people, anywhere from 20-40% higher and more exit opps.

  • Kenny_Powers_CFA's picture

    I'm (Man)bear(pig)ish on the Big 4 in general (broken business model, terrible work/life/comp balance, dull people, run by accountants, lack of integrity from partners, etc), but that's low versus what new Big 4 consultants were making in NYC circa '08. My class and our peers in advisory groups were from 60-70k with various signing/relo/year-end bonuses, with all-in comp from $65kish-75kish. I do know they tried to push this down for some service lines in '09 but I doubt they got all the way to $50k/5k. From what I knew from my group's other offices, there wasn't more than $5k or so of regional variance.

    There have been many great comebacks throughout history. Jesus was dead but then came back as an all-powerful God-Zombie.

  • In reply to LAbasedFinance
    Kenny_Powers_CFA's picture

    LAbasedFinance wrote:
    Salaries jump up fairly quickly and those starting at $50-$55k should be around $100k base in five years (plus bonus) - not great compared to IB or say true consulting but compared to audit/tax groups that work alongside these people, anywhere from 20-40% higher and more exit opps.

    They definitely market it this way but be careful-they definitely use the "you'll get an awesome raise next year!" tool to keep people around. It can also really screw you in a down year because when there's no bonus/merit comp system, a donut carries with you for the rest of your career.

    My class got donuts our first year and those that came in the year after us are still making much less than people with their tenure were making 4-5 years ago. The worst is people who get promoted in a down year-promotions, especially to manager (or the equivalent) are supposed to mean big jumps in pay, but the class 3 years ahead of us had two promotions in down years for raises (sr associate in '07, manager in '09) so they were making in some cases HALF of what managers only a year older were making.

    There have been many great comebacks throughout history. Jesus was dead but then came back as an all-powerful God-Zombie.

  • In reply to Kenny_Powers_CFA
    LAbasedFinance's picture

    Kenny_Powers_CFA wrote:
    LAbasedFinance wrote:
    Salaries jump up fairly quickly and those starting at $50-$55k should be around $100k base in five years (plus bonus) - not great compared to IB or say true consulting but compared to audit/tax groups that work alongside these people, anywhere from 20-40% higher and more exit opps.

    They definitely market it this way but be careful-they definitely use the "you'll get an awesome raise next year!" tool to keep people around. It can also really screw you in a down year because when there's no bonus/merit comp system, a donut carries with you for the rest of your career.

    My class got donuts our first year and those that came in the year after us are still making much less than people with their tenure were making 4-5 years ago. The worst is people who get promoted in a down year-promotions, especially to manager (or the equivalent) are supposed to mean big jumps in pay, but the class 3 years ahead of us had two promotions in down years for raises (sr associate in '07, manager in '09) so they were making in some cases HALF of what managers only a year older were making.

    Most companies used that "tool" during '09 & '10 to retain talent if they didn't actually pay. And you're correct that if your started or were promoted during those years it was pretty bad. I moved to the advisory group well before that and had very good years but I experienced the downturn. The problem in all this is that these are huge firms that are highly bureaucratic. Pay is not assessed by the individual but usually to fit into a range that can be used for hungreds of employees (if not thousands on the audit side). Hopefully, and I say this because I have staff who have been screwed like you mention, I hope they see 20-30% catch-ups this year that were seen in '06-08.

  • _bird_'s picture

    if a massive amount of people quit, you will see significantly larger raises in the fall relative to the past several years. still, despite the constant complaining and dissatisfaction within all the firms, people tend to suffer through it and continue on. the firms actually do a better job of retaining employees than people think. i agree with a lot of what has been posted above. the business model in the big 4 firms is not focused on paying employees large amounts of cash. the partners are the ones making the significant money. if you want to make large amounts of cash (and not resume credibility) either grind and hope to make partner, or gtfo.

  • Kenny_Powers_CFA's picture

    It's not poverty level but if you're living in a major city it doesn't leave much after rent and taxes.

    There have been many great comebacks throughout history. Jesus was dead but then came back as an all-powerful God-Zombie.

  • In reply to Kenny_Powers_CFA
    papeete's picture

    Kenny_Powers_CFA wrote:
    I'm (Man)bear(pig)ish on the Big 4 in general (broken business model, terrible work/life/comp balance, dull people, run by accountants, lack of integrity from partners, etc), but that's low versus what new Big 4 consultants were making in NYC circa '08. My class and our peers in advisory groups were from 60-70k with various signing/relo/year-end bonuses, with all-in comp from $65kish-75kish. I do know they tried to push this down for some service lines in '09 but I doubt they got all the way to $50k/5k. From what I knew from my group's other offices, there wasn't more than $5k or so of regional variance.

    Care to elaborate on how you got out of the Big 4? Maybe you have already done this on a different post?
    Or rather, what are recommended steps to getting out of Big 4?

  • bugalow12's picture

    wow brand_new, LOL, how is yours so low? i was offered high 60s and I just asked for roughly 75k and I got it on the spot. this is for NYC btw.

    i do have a non MBA masters however....but if i'm getting paid ~15k more than you, worth it no? ha

  • khara 3alekon's picture

    nyc Pwc 60k/3ksign plus end of year bonus plus performance/project bonuses (very group sensitive), not including rando bonuses that they throw at the associates during the year.

    EY should be slightly higher for base pay nyc

    for those of you who graduated with a non mba masters and getting about 75k base, your not that special dude. you probably spent way more on that extra year, and wasted a whole year of making a good amount of cash and experience. In the end, the person with the four year undergrad degree in big4 makes more money in the end.

    A good amount of Associates leave big4s after two years, working for private firms with a good salary increase depending on past experiences, school, etc...

    Breaking into banking isn't that hard. If your from a non-target, mid gpa, not great internship experience, etc.. OBVIOUSLY its hard. But if your from a non-target, a couple of internships, strong gpa, and know how to network.. breaking into banking is a joke.

    You guys think that banking is that hard to get into? dude please... getting into banking and big4 is not THAT difficult. You just gotta get your shit stratight during first year undergrad, then everything else will fall into place. The driving factor is interest/ambition.

    I know so many people who dont have jobs based on passion-less expectations in banking. Need to have the passion to have the pay.

    .

  • In reply to bugalow12
    brand_new_consultant8891's picture

    bugalow12 wrote:
    wow brand_new, LOL, how is yours so low? i was offered high 60s and I just asked for roughly 75k and I got it on the spot. this is for NYC btw.

    i do have a non MBA masters however....but if i'm getting paid ~15k more than you, worth it no? ha

    Honestly, I'd rather be in my position make 15K less. Chances are you spent 30-40K on your masters alone, not to mention a year of lost salary. For me at least, working a few years, then going back for my actual masters in MBA will be a lot more beneficial. Let's not forget the fact that while Chicago is expensive, NYC takes the cake and 10,000 of that will probably be adjusted our for cost of living (conservatively).

  • In reply to JPG87
    khara 3alekon's picture

    JPG87 wrote:
    PwC Valuation in NYC:

    59K base, no starting bonus

    This Fall 2010? When did this offer get extended (Fall 2010 or Spring 2011)?
    And was it first choice round or second choice round of candidates? (if you know this one - its easy to figure it out... ask the person if they sucked or not...)

    .

  • In reply to brand_new_consultant8891
    manbearpig's picture

    brand_new_consultant8891 wrote:
    R2 equals 1 wrote:
    I know a few people with non-mba masters getting over $100k straight out of grad school from big 4 firms (not in strategy)

    No you don't

    Well, I was almost straight out of an MFE (3 months at first firm before I lateralled), but I am in strategy.

    -MBP

Pages