Comments (100)

Mar 15, 2011

50K base, 5% year end bonus. No signing bonus.

Mar 15, 2011
manbearpig:

50K base, 5% year end bonus. No signing bonus.

Is that even minimum wage?

Mar 15, 2011
WSO_Ninja:
manbearpig:

50K base, 5% year end bonus. No signing bonus.

Is that even minimum wage?

It's probably not for the hours they work.

Salary depends upon your level of education, where you work (I.E. New York gets paid more than Florida), and others.

Here's a link for 2010 starting salaries:

http://goingconcern.com/2010/08/starting-salaries-...

I think that we are all clinging to a great many piano tops...

Mar 15, 2011
WSO_Ninja:
manbearpig:

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%.

Mar 16, 2011
manbearpig:

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...

    • 1
Best Response
Mar 16, 2011
papeete:
manbearpig:

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.

    • 2
Mar 15, 2011

only 50 base? jeez

Mar 15, 2011

Thanks for the input, but that doesn't sound right, I know the consultants makes more than the accountants, and I know for a fact the starting base for the accountants is 57k

Mar 15, 2011

Can't be. I started at one of the big 4 in 2007. 55, 5 signing, no year end, 10% raise.

    • 1
Mar 15, 2011

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.

Mar 16, 2011
marcellus_wallace:

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?

Mar 16, 2011

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.

Mar 16, 2011

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.

Mar 16, 2011
Arpster55:

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.

Mar 16, 2011
manbearpig:
Arpster55:

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.

Apr 18, 2011

*

Mar 16, 2011

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.

Mar 16, 2011

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.

Mar 16, 2011
Kenny_Powers_CFA:

I'm (Man)bear(pig)ish on the Big 4

Haha, nice! SB for that.

Mar 16, 2011
Kenny_Powers_CFA:

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?

Mar 16, 2011

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.

Mar 16, 2011

Wow $50,000 is like poverty level to some of you!

Mar 16, 2011
SPH:

Wow $50,000 is like poverty level to some of you!

Not gonna lie, but I can't imagine making less than 75K. I think I would just die.

Mar 16, 2011

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

Mar 16, 2011
Kenny_Powers_CFA:

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

In Manhattan you can apply for price controlled housing if you are under 50k.

Mar 19, 2011

(confirmed) nyc advisory big 4 roughly 75k base + signon.

Mar 22, 2011

know e&y straight outta undergrad for advisory 55k +5k bonus no signing in NYC

Mar 22, 2011

Confirmed:

Big 4 Valuations group = 63k base + potential year end bonus

Mar 22, 2011
quest777:

Confirmed:

Big 4 Valuations group = 63k base + potential year end bonus

This is for NYC. Out of undergrad

Mar 22, 2011

Please inform us of the city each time you post confirmed salary figures.

Mar 29, 2011

Wow what embarrassingly low numbers.

Mar 29, 2011

Does anyone have the same information for PwC MBAs class 2011?
How much does it vary based on school?

Apr 5, 2011

My offer was 57-59 000, 3K signing bonus for Advisory in Chicago for PwC. Not sure where other people are getting their numbers from.

Apr 6, 2011

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

Apr 11, 2011
bugalow12:

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).

Apr 11, 2011
bugalow12:

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

No, it's not.

Apr 6, 2011

YOU GOT PWNED BY BIG4

Apr 7, 2011

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

Apr 15, 2011
R2 equals 1:

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

Apr 15, 2011
brand_new_consultant8891:
R2 equals 1:

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.

Apr 15, 2011
brand_new_consultant8891:
R2 equals 1:

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

Believe whatever you want, it doesn't matter to me if you believe me and I gain nothing from lying.

    • 1
Nov 1, 2016

Not a chance, these firms have baskets of what they pay at what level for these large groups, they would never pay a kid out of undergrad 100K

  • Mr. Cheese
  •  Apr 7, 2011

Offer last year for PwC Houston was 53k +3 sign on

E&Y Transaction Advisory Services Dallas was 60k +3k sign on

Apr 8, 2011

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.

.

Apr 13, 2011

PwC Valuation in NYC:

59K base, no starting bonus

Apr 14, 2011
JPG87:

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...)

.

Apr 15, 2011

$50k is not attractive compared with other counslting companies.

Apr 15, 2011
xiaoyuesky:

$50k is not attractive compared with other counslting companies.

Thank you for your insightful contribution.

Apr 15, 2011

My brother is starting in big 4 audit and his base is 55. Don't see advisory starting at 50....

May 10, 2011
kimbo:

My brother is starting in big 4 audit and his base is 55. Don't see advisory starting at 50....

you would be surprised how comparable the salaries across the service lines in big4 are...50-55k is typical starting salary for pwc advisory, same as kpmg and e&y. the only firm that really is separated from the group is deloitte. i dont know what their starting salaries around (around 60k i assume), but they generally pay more.

i can confirm that e&y/pwc chicago is 50k for associate. (bonus is probably 0-5%)

May 10, 2011

Houston
PwC-Advisory Associate
$60k, $3k s/o

May 10, 2011

the main problem is thinking that "advisory" is comparable to management consulting. the big 4 firms are experts at marketing and they use interesting sounding titles to convice/trick college graduates into joining the firm based on complete misconceptions.

with the exception of D&T consulting, and very few other practice lines spread across the Big 4 firms, 95% of "advisory" is glorified accounting, SOX, IT, etc,.etc. related work that is NOT at all similar to more prestigous managment consulting work.

don't join a big 4 firm expecting great cash compensation. that is not the business model. you are paid the bare minimum to keep you from jumping, given 20-25+ PTO days/yr, 9-10 holidays/yr, a very reasonable work/life balance, and a sure path to promotions and career advancement.

May 10, 2011

Completely agree with the above, excellent summary of the Big 4. I would say though that the work/life balance isn't even that good in some groups, and the amount of work/quality of work/compensation balance (more meaningful than "work"/"life" balance) is pretty shitty.

Jan 26, 2012

One of my classmates offer:

Audit: 57k with no bonus + possible year-end bonus + 5k CPA bonus

Jun 7, 2011

This is maybe a stupid question but do you get overtime?

Btw I thinke Deloitte pays 70+10.

"We are lawyers! We sue people! Occasionally, we get aggressive and garnish wages, but WE DO NOT ABDUCT!" -Boston Legal-

Jun 7, 2011

100k base seems low for Deloitte S&O Senior Consultant. Isn't that the level MBA's come in at? I thought they were getting about 130k base.

Jun 7, 2011
djfiii:

100k base seems low for Deloitte S&O Senior Consultant. Isn't that the level MBA's come in at? I thought they were getting about 130k base.

I don't have an MBA, and post MBAs in the Toronto office don't get 130K base - it's anywhere from 100K to 120K depending on the school.

Jun 7, 2011

Hmm, good to know. Perhaps it's slightly higher in some of the large US markets, i.e. NYC, Chicago, LA.

Jun 7, 2011

I have a question, why do Advisory staff get paid more than the other practices?

I always hear about how auditors are getting hit with long hours and the advisory staff is basically chillin compared to the two other practices..... Can anyone specifically address these questions.

.

Jun 8, 2011
khara 3alekon:

I have a question, why do Advisory staff get paid more than the other practices?

I always hear about how auditors are getting hit with long hours and the advisory staff is basically chillin compared to the two other practices..... Can anyone specifically address these questions.

I don't know where you heard that advisory staff are chillin, but that's definitely false. Any consultant that's "chillin" for too long is quickly out of a job. Anyway, In order to answer your question, you need to differentiate the services a little more than you have. In the Big4 you have Assurance, Tax, and Advisory. Assurance is audit. Tax is self explanatory. Advisory is basically anything that isn't Assurance or Tax.

Auditors work long hours during busy season, so say October to April. After that things settle down to 45-50 hour weeks, which isn't terrible. Pay is pretty low because the skillset isn't that specialized. A financial audit is basically a commodity, as the previous posted noted.

Under the Advisory umbrella you have TONS of different things. Forensics, IT Security, IT Audit work in support of Assurance engagements, ERP implementations (SAP, Peoplesoft, etc), Governance & Controls, etc. To a lesser extent the Big4 attempt to dabble in Management / Strategy consulting type engagements as well (the stuff that MBB does exclusively), but Deloitte is really the only one of the Big4 that's viable in that niche of advisory (Deloitte S&O).

The reason you need to get more granular within "Advisory" is because each of those types of engagements has completely different cost structures / bill rates, and different skill sets. You don' t have people that are interchangeable "Advisory" guys. An IT Security guy is going to be very specialized, and command a certain bill rate, and you can't just drop him on a strategy engagement and expect him to have a clue what to do. A Deloitte S&O engagement is billing much higher rates on average than say, an IT Audit engagement. They require entirely different skill sets, and typically the S&O stuff requires more years of experience and better pedigree. So a senior associate doing audit work might make $70k, while a senior associate doing strategy work might be making $125K. But that strategy senior associate might have 8 years of legit Fortune 100 experience that is directly applicable to strategy work, while the audit senior associate has 3 years of experience.

Jun 7, 2011

Tax and audit are viewed as commodity products by the Big 4's clients, and tax and audit employees are viewed as commodities by Big 4 partners. Both the firms and their employees are compensated as such. Advisory has managed to avoid this to some extent because the service being provided is more nebulous so there's more opportunity to at least seem like you're differentiated from other consulting firms. Disagree on the hours though, advisory works at least as much as the other practice lines just less concentrated in filing season.

Jun 8, 2011

Got it... thanks guys.

.

Jun 10, 2011

what is the difference between PWC advisory and traditional strategy consulting jobs? What does PWC advisory do anyway?

    • 1
Jun 10, 2011

Seriously? I just...... nevermind.

Sep 9, 2011

PwC Strategy NYC
65k +3k s/o

Jun 11, 2012

How about PwC FSR vs Deloitte FAS starting salary?

    • 1
    • 1
Jun 11, 2012

A little off topic but what are the typical credentials for someone applying to the Advisory or the Valuations group? What major? What kind of experience?

Jun 11, 2012

I interviewed for E&Y advisory and most candidates I met were economics or finance majors from mid-tier schools (Notre Dame, Indiana, etc.). However, I don't believe I was being recruited during the usual time period, so perhaps there are other popular majors or schools as well.

Sep 9, 2012

So I'm trying to get in at PwC. I have a master's degree in mechanical engineering and I'm currently getting a master's degree in IT auditing and cyber security and takin the CISA exam at the end of the year (brand new program at Fox school of business, one of only like 2 programs in the country like it). I don't have any substantial experience besides reseach positions, an engineering internship, and a current apprenticeship working for a microsoft gold partner doing EPR implementations. The woman who is at the career center said I should expect to make between 53 and 58 k, which kind of surprised me. I was getting better offers than that out of mech engingeering undergrad. Does anyone have an idea for what someone in my position would start at for IT risk assurance for PwC or any of the big 4 for that matter? Trying to be in philly, nyc, chicago, or san fran.

Sep 9, 2012
Rsteel:

So I'm trying to get in at PwC. I have a master's degree in mechanical engineering and I'm currently getting a master's degree in IT auditing and cyber security and takin the CISA exam at the end of the year (brand new program at Fox school of business, one of only like 2 programs in the country like it). I don't have any substantial experience besides reseach positions, an engineering internship, and a current apprenticeship working for a microsoft gold partner doing EPR implementations. The woman who is at the career center said I should expect to make between 53 and 58 k, which kind of surprised me. I was getting better offers than that out of mech engingeering undergrad. Does anyone have an idea for what someone in my position would start at for IT risk assurance for PwC or any of the big 4 for that matter? Trying to be in philly, nyc, chicago, or san fran.

Serious question -- with a master's degree in engineering, why the fuck are you trying to trying to move to bullshit IT work for PwC? You could start out somewhere at $100k/year doing a bullshit ~40-hour-per-week engineering job then move up into the management side.

Also, who's paying for these degrees?

Sep 9, 2012

I was a researcher for the university so they paid me to get my master's in engineering (full tuition covered plus salary) and for this new master's I got a pretty hefty scholarship. I got interested in enterprise IT when I was working as an intern at a company that was implementing SAP and they were having real issues with the governance part, so it kind of dawned on me that this was something important that I should maybe look into. A professor from my department (ME) pointed me in the direction of this program under the impression that I could make a lot of money with this type of degree and an engineering background. Everyone keeps telling me the big 4 are the way to go with this type of degree but I feel like there could be other companies to go to that might appreciate my engineering background more.

Sep 9, 2012

The problem with IT Assurance for PwC is that it still falls under their Assurance group, which will not pay as much as Advisory. Moreover, you still come in at an entry level position despite your degrees (only exception is an MBA). With all that said, an entry level assurance offer would be around 50-58k depending on the city. For Advisory, entry level is from 60-65k. If i were you, Id look into their Advisory group, they have an IT department int heir in addition to Forensics and IT Security, I don't know much about it but have met kids within those groups.

Message me for more if you want.

Sep 12, 2012

PwC Advisory Associate Offer:

65k

10k signing bonus

5%-10% year end bonus

first offer, room for negotiation.

Sep 12, 2012
Hoosier82:

PwC Advisory Associate Offer:

65k

10k signing bonus

5%-10% year end bonus

first offer, room for negotiation.

What office? And what industry/LoS? Financial Services?

Sep 12, 2012
moose46:
Hoosier82:

PwC Advisory Associate Offer:

65k

10k signing bonus

5%-10% year end bonus

first offer, room for negotiation.

What office? And what industry/LoS? Financial Services?

Chicago, CIO Advisory, Healthcare IT, Associate Level, MIS from top 10 MIS B-school.

Depending on your vertical/horizantal you may essentially be working for Diamond Management + Technology Consultants. I interned with PwC this summer and it was all Diamond folk at the client (6 week high level IT strategy engagement - 60-70 hrs/week). Diamond folk at PwC is one of the only reasons I would go PwC Advisory over Deloitte b/c most Diamond people are cool as fuck (work hard play hard) + a lot smarter/better at what they do than PwC legacy advisory.

Deloitte's offers to my colleagues are at 75k + 15k signing bonus + year end bonus. Im trying to get into Deloitte or get PwC to up my offer comparable to Deloitte, PwC is fallback.

Sep 12, 2012

I don't think this is right. I have a friend who received a 60k offer in PwC Tax.

Sep 12, 2012

tax and assurance make less right off the bat + less bonuses.

May 4, 2013

Hey
I have an undergrad in computers engineering .. and worked for about 3 years developing software before deciding to go for a graduate degree in computers (a top 25 school). Another friend of mine has close to 5 years of industry experience. We're both looking at management consulting as a prospective career path. So I was checking out the profile of Experienced Associates at PwC and I was wondering what sort of a pay I could expect say in LA? Looking at the previous posts was a bit of a buzz kill .. Seriously what could both of us expect? Or is it better to stay clear of big 4 and focus on the industry!? And what about Deloitte since you guys say Deloitte offers better deals..?

May 5, 2013

No way. Started at PwC Advisory in 2007. Got 57K + 3K signing + 10K tuition reimbursement (after taxes).

"Just go to the prom and get your promotion. That's the way the business world works. Come on, Keith!" - The Boss

May 5, 2013

Anyone have any information at all about the ARCA group?

May 5, 2013

Get the offer then negotiate.

Robert Clayton Dean: What is happening?
Brill: I blew up the building.
Robert Clayton Dean: Why?
Brill: Because you made a phone call.

    • 1
May 5, 2013

That's doesn't help when they ask you what salary you require. I don't want to out price myself, the work seems interesting.

    • 1
May 5, 2013

Say market

May 5, 2013

It's between 115 and 135 depending of exp, where you came from.
I don't understand why people make it so difficult on this website.

May 5, 2013
Comment
    • 1
May 5, 2013
May 5, 2013
May 5, 2013