MD/Partner pay in a small consulting firm and is it worth chasing 1st & 2nd tier with a sub-par profile?O
I know this is going to be heavily region/city/firm specific but does anyone have any thoughts or anecdotal stories about working for a no-name small consulting firm? What kinds of projects are they actually able to bring in? How's the pay once you get to the top?
I'm currently working in public accounting but looking to switch over at some point down the road. Is it worth the upfront cost (opportunity cost of grad school,if needed, and tuition) and killing myself just to get in the door at a 1st/2nd tier firm then killing myself a little more to work my way up? I know the projects will be larger and the caliber of co-workers will be much higher but is it worth it?
Public accounting isn't a terrible career path and I'm confident that I can make okay money here (>100k by 30 working <2,500 hrs/year) but I'm a little worried about topping out low and being more interested in strategy and driving growth than auditing and tax.
I can work in a little bit of consulting work with accounting clients and even a little bit of ibanking type work but these projects are a rare treat. The top I can imagine making in accounting even hustling and doing my own thing if I need to is ~$350k and that wouldn't be until the golden years.
I guess I'm just wondering how people break through the glass pay ceiling. I know a lot of people who make $200k-$400k but then it jumps to >$1mm. How do you make that salary jump? Is it only by being a MD at MBB or are there other ways? Can you recommend any potential paths for someone from a non-target/mediocre gpa background? I can hustle and do great work but the pedigree just isn't there.
Sorry for the rambling, I've been having a career crisis and am just looking for any input at all.