Not sure if this is the correct forum but I do SAP Basis and Security and have about 7 years experience and just turned 30 recently. Unfortunately I was severely underpaid at my last job and made about 80k and recently I got an offer from Deloitte for a 100k with 5k in DC for their Federal practice signing bonus which is still a 25% bump but still on the low end. Does anyone know if my pay will even out over time or will I be stuck at the low end of the band for a long time.
Thanks for reading
Two friendly observations:
1) 100k, while at the low end of what consultants make, is still a ton of money. There are lots of folks out there who dream about making that kind of cash. So while I'm not saying you should just take it and be happy, I would encourage you to maintain perspective.
2) You say you're at the 'low end' -- but are you really? You just switched jobs and got yourself a 25% bump. You are worth what you can get in the market. Unless you can look around and point at lots of your peers with similar skills and experience who are making a lot more than you (and if you can, you should apply for their jobs) perhaps you are actually earning what you are worth.
Just food for thought.
Hey thanks for the observations. I know how lucky I am as I accidentally stumbled into SAP and probably wouldn't be hitting six figures without it. I just think I'm going to a little mid mid life crisis as I just turned 30 and I feel like all my friends are far ahead career and salary wise. I should just ignore it and stay in my own in lane and work on improving myself.
I mean the low end of the salary band. Like I read somewhere that if you're in the low end of the salary band at a big4, it will even out overtime as people on the higher end as their raises will be lower sans performance.
You are definitely at the low end. I used to work with SAP consultants around 2004-2005 and they were earning 135k per year in tier 2 markets.
I understand your plight. I was previously in IT and severely underpaid at the entry level (by a factor of about 50%). This is a very common dynamic in the industry. Primarily it stems from an intersection of H1B Visa workers working for substandard pay (think the 24 year old Indian that comes for 2 years on 60k per year to build their resume), low profitability of the industry, and finally -- Your skills (or lack thereof) at negotiating.
Engineers and IT workers are terrible at commanding value. I suggest you collect several job offers in the SF bay area, and practice negotiating a bit. You should really be seeing 130-150k and if not, you need to push harder.
100k is a TON of money? Really? That's middleclass in a market like DC.
It's easy to lose perspective when you're surrounded by people that make a lot of money.
I make a lot more than 100k now, and I fully admit it would be tough for me to go back to making that much. By that measure, it's not a lot of money.
But there are people out there who are so poor they have to make a choice between eating and keeping the lights on. For folks like that, 100k is a number beyond their wildest dreams.
I'm not telling the original poster he should take his 100k and be happy -- I'm saying, don't assume you're underpaid because the folks around you make more than you. If folks with similar skills are getting similar pay, and you're doing something you enjoy, and you're making 100k, that's not a bad problem to have.
Listen, if you're getting paid less than the guy next to you doing the same job, stick it out until you find a company that pays you your market value.
Odd that you say "totally disagree" and also literally the exact same thing I said in back to back sentences.
Unfortunately I had an extremely low salary and my experience with Federal consulting firms is that they will pay based on current salary (one even offered an amazing 5k based on my current salary) and I don't want to lie in case they verify. Either way I got a 25% increase so maybe I'll see what happens in a year or two.
What level? I have a friend who was a manager with Deloitte probably making 120 for similar work.
Bear in mind - Federal pay is generally lower than commercial, and whether you believe it's right or not, MBA hires get paid a lot more than straight from industry. I'm guessing you're looking at the MBA level figures if you think you're being lowballed since they're easily visible. If you're looking at MBA hire pay from managementconsulted etc it will definitely be higher, and you won't be able to negotiate up to that level unless you're a proven rock star. It doesn't usually even out over time, the nature of the work top MBA hires have is a little different, bill rates are higher and they are more competitive to hire.
That being said, it sounds like a great role and you've made a nice salary bump in the process, congrats.
Its for Senior Consultant.
I know Federal is lower than commercial. I saw the managementconsulted figures and I understand those are only for people MBA on top tier MBA progroms like Sloan, Wharton, or Kelogg and they will probably be consulting C-level executives and CEO's so their pay should be much higher.
What I meant by even out overtime is that I read that Big 4's usually have pay bands and those on the lower end will eventually catch up to those on the higher end of the salary band. Maybe I'm wrong?
Thanks for the kids words and I can't wait to get started!
Yeah that rate sounds at least in market range to me then.
Salary stated seems in-line with level. You have got yourself on the Big 4 curve. This does not mean you are getting market value. However, Big 4 branding is strong and the go-to in the markets for nitty-gritty projects and warm bodies.
Yeah, can't wait to get started. Might be overthinking this too much.
From the description of your background and the sector you work in, the compensation sounds about right. Here are the base salary ranges for Deloitte & Booz Federal consulting (from my understanding):
I have also heard bases above $130K basically dont exist in federal consulting without an MBA/Managerial role but I can't confirm this.
Ok thanks. I might be overthinking it says glassdoor doesn't show median and not mean which includes senior consultants from top tier MBA's making 140k+
Doesn't help that I work with alot of independent SAP consultants who make 100+ and hour and told me I should be getting 120k+
With federal bill rates being lower than commercial I can almost guarantee there aren't any Sr consultants making 140k+.....the company would be losing money hand over foot. And if I'm wrong and there are they are only there for a year before they are promoted or booted.
Federal consulting is pretty much a 9-5 job so you need to factor that in too - might not be cash in the pocket but there is something to say about having a life outside of work ;)
To everyone saying 100k is a ton of money...
You can make $100k with 5 years of experience in almost any market in any professional role (Marketing, Sales, Accounting e.tc..)
Personally I think $100k for a professional by 30 is about average and probably a little low for IT.
Since you're the first to say this. How bad do you think the offer is in your personal opinion?
So for federal I think you are in line. But federal is low generally.Trouble is the base you were starting from. I think if you jump ship in 18-24 months to a corporate (I.E. Lockheed etc..) you will add another 20k at least to your base. Potentially more if you were able to switch to commercial IT consulting.
This is why it is important to keep an eye on where you are at compared to market and ruthlessly jump ship if you aren't being promoted or your comp isn't increasing fast enough.
Otherwise you will be in your exact position of being 40k (80k base) under market and having to make multiple jumps to bridge the gap,
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