2019 Deloitte S&O Salary/Compensation - Correct Expectation

kreclu56's picture
Rank: Monkey | 34

Hi All,

Recently I was given an offer from Deloitte S&O for a consultant position. I have almost 5 years of indutstry experience (non-consulting) and an MBA from IE Business School in Madrid Spain.

The offer I was giving was between 115-120K. I thought this was good from reviewing the salaries on Glassdoor. However, viewing some of the threads here and on ManagementConsulted, I saw numbers in 140K.

I reset my range to Deloitte to be 132-140K based on this information. They said that meeting this range was "impossible," even though I feel I've gotten these numbers from credible sources.

My question is, what should I believe? Is 115-120K a real lowball offer, or do the 140K + numbers I see online apply to only certain schools? IE Business School was ranked #8 Global by the FT in 2017, so I believe it is a well reputable school. Any thoughts would be appreciated!

Comments (20)

Feb 21, 2019

~140 for a fresh MBA grad is an accurate figure in the US. Are you still in Europe. Could be different based on geography and for the fact that Deloitte US and Deloitte Europe are different entities.

Feb 21, 2019

I'm in the US, based in Houston, TX. I was told the 140K figure was only for certain schools. Wasn't sure if that was the recruiter being honest or just trying to low ball my offer.

Feb 21, 2019

The position is with Deloitte S&O US btw

Feb 21, 2019

What's your BATNA? Yes, they are trying to low ball your offer, but if they already told you it's impossible then your next option is to threaten to walk away, which it sounds like you're not willing to do.

Bluffing a job offer is not a good idea, so unless you're willing to walk, you're kinda stuck.

tbf; you're basically going to be on par with their internal promotions and experienced hires so it's not like you're getting completely screwed, you're just getting a little screwed.

If you're planning on staying in consulting then you will catch up on your manager promotion in a few years.

Feb 21, 2019

Not really any alternatives right now. I could stay in my current role, which is more technical. However the growth prospects aren't as clear. Plus I'm not sure if I have as clear of a path to move into consulting, especially for a Deloitte or MBB. (I come from a Chemical Engineering background and my whole career has been spent in Petrochem.)

I've spoken with some Deloitte employees and they said the larger salaries are more geared towards schools such as HBS, Wharton, etc. Since IE isn't a target school, I may not be given the target school salary. Not sure how true this but that's all I have to go off of from internal sources.

Feb 21, 2019

If you want to be in consulting and you don't have another offer then you'll just have to suck it up. It's not totally fair, but when you consider that all of the experienced C's are in your exact same situation, and they have more experience than the new MBA hires, your spot really isn't that bad.
You'll catch up on your manager promotion.

Feb 22, 2019

Is your title going to be "Consultant" or "Senior Consultant"?

Post-MBA candidates are usually hired on as Senior Consultants and they get the $140-$150 base salaries.

If you're being hired as a "Consultant" then that's why your salary/offer is where it is.

Feb 22, 2019

I'm hired on as a Consultant.

I think you're right and that has to do with their offer. Unfortunately I'm just under 5 years experience (officially 5 in June), so that may be a reason they slotted me as only a consultant, albeit on the higher end of the pay scale.

My hope is that if all goes well, I can get to SC in 1-2 years timeframe. By then, do you think I would have leverage to negotiate for what a SC post-MBA would get right out of school, since I already have my MBA?

Feb 22, 2019

That's pretty much it. For a Consultant, you're actually at the higher end of the pay band, so you're definitely not getting low-balled, relative to your peers at Deloitte.

If and when you get promoted to SC, you should be on the SC pay band, which starts at $150k after the last salary increase.

Feb 22, 2019

The MBA salaries that you've quoted are only available for those who get their offers through Deloitte's on campus process. You on the other hand would be coming in as an experienced hire (who happen to have a MBA) and that market is completely different. I know it may feel unfair but the good news is if you join Deloitte at "under market" pay, you will catch up quickly once you get promoted. My advise is to not focus so much on the supposed pay differential today but rather the general direction that you'd like to take your career as consulting will likely be very different than what you are doing right now.

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Feb 22, 2019

This makes complete sense and is aligned from the information I've been given from both the recruiter and internal folks.

And thanks for the advice. I plan using this as a "chip on my shoulder" type of motivation in my first year. I'm not as familiar of how the raise structure works, but hope to leverage it if I get to SC (as I stated in a comment above)

Feb 22, 2019

Did you get an offer for "Consultant" or "Senior Consultant"? 140K is for SC, not C, so if you are actually offered a C position, 115-120 sounds about right (and adjusted to be on the higher end of the scale because of your experience level).

Firms will frequently do this to test you before giving you an early bump up to SC if you excel.

Feb 22, 2019

Consultant, as stated in my previous replies. I was also told Deloitte values consulting experience first and foremost, so I look to get that under my belt and leverage that down the road.

Feb 22, 2019

Then you are not being low-balled, and are actually making a bit more than normal.

Feb 22, 2019

Deloitte does this quite often to "experienced hires." Did you only apply to Deloitte? You may consider accepting Deloitte's offer, looking elsewhere and reneging if you find something else. Something more inline with traditional compensation for the role (140K to 160k base and 20k signing).

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Feb 22, 2019

I only applied to Deloitte as I 1) had internal connections there that could give me a referral and 2) they had a role that was most aligned with what I wanted to do (manufacturing strategy and smart operations). I will definitely keep this strategy in mind. But I agree with many of the folks here - I will have to see how the adjustment is moving from really technical (data science before this role) to consulting.

Side note: I wanted this change of mindset from very technical to more strategic. Not sure yet of the lifestyle (other than what I've read) but I do know this is the type of work that better suits me and my long-term plan.

Feb 22, 2019

Based on all of the non-compensation info you have provided, I think you should accept the role and kick ass, and you'll be setting yourself up well for the future. I have no idea whether it's high or low, but I can tell you I spent too much time worrying about a few thousand in my 20s. If @pr4mence is right then you should jump on it like yesterday. Good luck.

Feb 22, 2019

Sounds like there is low ball potential but look at the big picture - you don't have any leverage (given no other offers) so you can risk a negotiation for the sake of 10K or take the job, kick ass and bring your comp back to alignment while you're there. Plus, the real comp comes from exit opps x years down the line - take the job setting you up for that.

IE business school really is climbing up the ranks but is not a target school for US consulting firms. Congrats on the offer - my advice is to take it, prove you can hold your own and look forward to the opportunities that are likely to come off the back of it

Feb 22, 2019
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