Big 4 First Year Salary and Bonus

Does anyone have any info on big4 Transaction Services and Advisory salary for first years? In New York, I assume less thanl BB IB but is it even close? Cant find much info on it.

transaction advisory services starting salary and bonus

In the transaction advisory services area, starting analysts can expect to make $55 - $65 thousand. The bonus level should be expected to be around 5% - 20% for top performers. Our users shared their experiences below.

_bird_ - Corporate Finance Analyst:
i work in audit, but have direct knowledge of this. it depends on the firm, and the city, as there will be slight variations based on those factors, but i would expect 55-65k. Not sure about bonuses, but would not expect anything over 5%. the firms are also pulling back on sign-on bonuses, either reducing them or not offering them at all.

Kenny_Powers_CFA - Hedge Fund Analyst:
Depends on office/group/firm but generally 55-65k/0-10K bonus.

IUHoosier08 - Investment Banking Analyst:
Depends on office/group/firm but generally 55-65k/0-10K bonus.

TodaysTomSawyer:
Around 60-65k for a first year associate, bonuses have been up to 20% in the past, however you need to be a top performer, and I mean a superstar. Normal performers can prob. expect around 5-10%. There are other types of variable comp. too (i.e. utilization bonuses which can yield an additional 2-10% on top of year end bonus.)

Big 4 Consulting MBA Salary

User @IUHoosier08" shared details for MBA or experienced level hires:

IUHoosier08 - Investment Banking Analyst:
That's for a first year associate. If you're going straight through and getting an MBA and starting as an associate you may get a few thousand more, but not much. If you're coming in as an experienced hire it's much different (probably 80K senior, 100K manager)

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Comments (42)

 
Apr 7, 2011 - 2:00pm

i work in audit, but have direct knowledge of this. it depends on the firm, and the city, as there will be slight variations based on those factors, but i would expect 55-65k. Not sure about bonuses, but would not expect anything over 5%. the firms are also pulling back on sign-on bonuses, either reducing them or not offering them at all.

**Started my post before Kenny's was there***

 
Apr 7, 2011 - 3:20pm

kcarps999:
Would the $55-60K be the same number for an MBA or is that a strict starting salary period? Just curious...

That's for a first year associate. If you're going straight through and getting an MBA and starting as an associate you may get a few thousand more, but not much. If you're coming in as an experienced hire it's much different (probably 80K senior, 100K manager)

 
Apr 7, 2011 - 3:29pm

IUHoosier08:
kcarps999:
Would the $55-60K be the same number for an MBA or is that a strict starting salary period? Just curious...

That's for a first year associate. If you're going straight through and getting an MBA and starting as an associate you may get a few thousand more, but not much. If you're coming in as an experienced hire it's much different (probably 80K senior, 100K manager)

Cool thanks man, much appreciated!

 
Apr 7, 2011 - 5:49pm

Around 60-65k for a first year associate, bonuses have been up to 20% in the past, however you need to be a top performer, and I mean a superstar. Normal performers can prob. expect around 5-10%. There are other types of variable comp. too (i.e. utilization bonuses which can yield an additional 2-10% on top of year end bonus.)

Of course this isn't comparable to IB comp., but you have more of an existence/life outside of work, even if it's less so than audit.

Also important to note that the starting salary for this sort of position was MUCH higher before 08. The exit ops are still pretty good regardless.

 
Apr 7, 2011 - 10:42pm

boutiquebank4life:
Exit op = mcdonalds or 40k finance job at dunder mifflin

Hey working at dunder mifflin with will ferrell as a boss would be awesome...thanks for your insight, i have to say that probably nobody here knew that investment bankers make more than accountants so really thanks for clearing that up...cock

 
Apr 7, 2011 - 7:07pm

From close friends in big4.

First year for my friends were all between 62-70K.
Bonuses between 8-15K

That was first year. For the person that said seniors make 80K that may be true in some cases, but my friend who is a second year associate is making 80K. Managers are making more along the lines of 120-150K before bonuses.

Array
 
Apr 7, 2011 - 7:31pm

theATL:
From close friends in big4.

First year for my friends were all between 62-70K.
Bonuses between 8-15K

That was first year. For the person that said seniors make 80K that may be true in some cases, but my friend who is a second year associate is making 80K. Managers are making more along the lines of 120-150K before bonuses.

Sorry man, but they are for sure lying to you. Regardless of how close you think you guys are. I can prove it. Ask them to see their pay stubs =P (kidding). In Toronto, I know for a FACT (after speaking with the HR Director at my firm) that the salary range for a 'senior' is 55-90K. Very few of them are at the top end, and most are around the 65-75 range by the time they're promoted to Manager. They normally get bumped to 85K when this happens. For staff level, bonuses are CAPPED at 5%, and for senior, they're capped at 10% of base. So a 15K bonus is out of the question. This is all for non consulting (audit tax etc.) and if you start at the firm after college and just work your way up. Of course if you lateral in, there's a much less rigid structure.

-MBP
 
Apr 7, 2011 - 7:54pm

manbearpig:
theATL:
From close friends in big4.

First year for my friends were all between 62-70K.
Bonuses between 8-15K

That was first year. For the person that said seniors make 80K that may be true in some cases, but my friend who is a second year associate is making 80K. Managers are making more along the lines of 120-150K before bonuses.

Sorry man, but they are for sure lying to you. Regardless of how close you think you guys are. I can prove it. Ask them to see their pay stubs =P (kidding). In Toronto, I know for a FACT (after speaking with the HR Director at my firm) that the salary range for a 'senior' is 55-90K. Very few of them are at the top end, and most are around the 65-75 range by the time they're promoted to Manager. They normally get bumped to 85K when this happens. For staff level, bonuses are CAPPED at 5%, and for senior, they're capped at 10% of base. So a 15K bonus is out of the question. This is all for non consulting (audit tax etc.) and if you start at the firm after college and just work your way up. Of course if you lateral in, there's a much less rigid structure.

agree with this post above. i work in big 4 audit. I know what people get paid. not sure why people are reporting inflated numbers. at each respective level (staff, senior, manager, etc) TAS folks (financial due dilligence, transaction services, valuation, etc) have salary approximately 10-20% higher than audit/tax. if the incoming audit/tax class is pulling around 50-55k to start, the TAS new hires are going to be around 60-65k at the highest. the only part i cannot speak to is bonuses for the TAS groups. the big 4 business model is not designed to give employees high (relative to finance/ibanking) cash compensation.

also, i know my firm is trying to get newly promoted audit managers back to $100k total comp (salary + bonus), because as mbp said, they have been around 85K for the past several years.

 
Apr 7, 2011 - 7:37pm

mbp,

I am sorry that you don't believe me, and I understand why, but I can assure you that these facts are correct. One of the numbers I quoted is from my brother and he came to me for advice regarding the negotiation of his salary. So I know for a fact that 80K 2nd year associate is true. There is also no cap on the bonuses in the group he works at. Like I said I have solid numbers and I have seen as high as 70K and by seen I mean I have seen the actual contract. The numbers I am quoting are consulting/advisory.

Array
 
Apr 7, 2011 - 8:20pm

theATL:
mbp,

I am sorry that you don't believe me, and I understand why, but I can assure you that these facts are correct. One of the numbers I quoted is from my brother and he came to me for advice regarding the negotiation of his salary. So I know for a fact that 80K 2nd year associate is true. There is also no cap on the bonuses in the group he works at. Like I said I have solid numbers and I have seen as high as 70K and by seen I mean I have seen the actual contract. The numbers I am quoting are consulting/advisory.

if it is D&T consulting, I can 100% believe it. D&T is the only big 4 firm with a true "consulting" practice that would be comparable to the MBB shops. I know D&T consulting new hires get $70K+ total comp.

outside of D&T consulting, the adivsory/consulting practices at big 4 firms (including D&T) consist of TAS (val, fdd, ts) which are "above" audit/tax and then other practices like, internal audit, IT audit, process improvement, data integrity, etc. which are on the same level as audit/tax in regards to comp.

if your buddy is in a non-D&T consulting role, and making that, I honestly don't know what to say or how that is possible. the big 4 firms are incredibly stingy when it comes to paying cash, and that person would have to be considered an extremely rare outlier that is not at all indicative of true circumstances.

 
Apr 7, 2011 - 8:56pm

<em>bird</em>:
theATL:
mbp,

I am sorry that you don't believe me, and I understand why, but I can assure you that these facts are correct. One of the numbers I quoted is from my brother and he came to me for advice regarding the negotiation of his salary. So I know for a fact that 80K 2nd year associate is true. There is also no cap on the bonuses in the group he works at. Like I said I have solid numbers and I have seen as high as 70K and by seen I mean I have seen the actual contract. The numbers I am quoting are consulting/advisory.

if it is D&T consulting, I can 100% believe it. D&T is the only big 4 firm with a true "consulting" practice that would be comparable to the MBB shops. I know D&T consulting new hires get $70K+ total comp.

outside of D&T consulting, the adivsory/consulting practices at big 4 firms (including D&T) consist of TAS (val, fdd, ts) which are "above" audit/tax and then other practices like, internal audit, IT audit, process improvement, data integrity, etc. which are on the same level as audit/tax in regards to comp.

if your buddy is in a non-D&T consulting role, and making that, I honestly don't know what to say or how that is possible. the big 4 firms are incredibly stingy when it comes to paying cash, and that person would have to be considered an extremely rare outlier that is not at all indicative of true circumstances.

Agree with this. D&T consulting he could be making 80K as a 2nd year, don't think it's possible with any other practice in any firm.

 
Apr 7, 2011 - 8:38pm

theATL:
mbp,

I am sorry that you don't believe me, and I understand why, but I can assure you that these facts are correct. One of the numbers I quoted is from my brother and he came to me for advice regarding the negotiation of his salary. So I know for a fact that 80K 2nd year associate is true. There is also no cap on the bonuses in the group he works at. Like I said I have solid numbers and I have seen as high as 70K and by seen I mean I have seen the actual contract. The numbers I am quoting are consulting/advisory.

Ok I concede. Maybe it can be wildly different from city to city. They're really rigid about salaries here. Not in the consulting practice, but in the audit/tax stuff.

-MBP
 
Apr 7, 2011 - 9:02pm

I'd say 1st years in Big4 advisory take 60 to 90 all-in, PwC and Deloitte on the higher end and KPMG (never take a job with them) / E&Y (also stay away) on the lower end. First year IB analyst takes what, 120 to 150 all-in? Not even close, but it makes sense given the business model and transaction value you're adding.

Big4 is a nice place to start out but if your ultimate goal is IB I'd say away... the only ex-accountants I see in banking are restructuring guys and I have met very few of them.

 
Apr 8, 2011 - 10:25am

Solidarity:
I'd say 1st years in Big4 advisory take 60 to 90 all-in, PwC and Deloitte on the higher end and KPMG (never take a job with them) / E&Y (also stay away) on the lower end. First year IB analyst takes what, 120 to 150 all-in? Not even close, but it makes sense given the business model and transaction value you're adding.

Big4 is a nice place to start out but if your ultimate goal is IB I'd say away... the only ex-accountants I see in banking are restructuring guys and I have met very few of them.

You're full of shit. 1st year in advisory your salary will all be the same across the big 4 (for same city and group, i.e. TAS New York). Bonuses will be slightly different but 1st years aren't getting close to 90K.

 
Apr 8, 2011 - 11:44am

IUHoosier08:
Solidarity:
I'd say 1st years in Big4 advisory take 60 to 90 all-in, PwC and Deloitte on the higher end and KPMG (never take a job with them) / E&Y (also stay away) on the lower end. First year IB analyst takes what, 120 to 150 all-in? Not even close, but it makes sense given the business model and transaction value you're adding.

Big4 is a nice place to start out but if your ultimate goal is IB I'd say away... the only ex-accountants I see in banking are restructuring guys and I have met very few of them.

You're full of shit. 1st year in advisory your salary will all be the same across the big 4 (for same city and group, i.e. TAS New York). Bonuses will be slightly different but 1st years aren't getting close to 90K.

70k, 5k sign-on, performance, 80-90k.

 
Apr 8, 2011 - 10:28am

boutiquebank4life:
Yea he MAD n JELLY

manbearpig ask yo mama about that loneliness thing 'cause i was all up in that last night broski

ask yo mama to stop tit feeding you. do you call her mama or auntie? must be confusing when your parents are siblings =S

-MBP
 
Apr 12, 2011 - 2:00pm

Solidarity:
I've heard of people with extensive experience leverage it for the extra cash, or even those who negotiated up to that.

I don't see why you're getting so angry about it

Because you're full of shit - I thought I said that already

This kid was asking for information, 5 people gave him legitimate answers and then you came in with your bullshit 60-90 range acting like you know what you're talking about. First years in big 4 (like in banking) are commodities, they'll tell you to take your "extensive experience" and shove it up your ass, then hire the next kid on their list.

 
Apr 12, 2011 - 12:00pm

Wow you think thats discouraging....starting salary in Dublin is €21,500 ($31,000).

Also as there's no IB's here thats were a lot of the top grads go.......Ireland is well and truly fvcked!!!

 
Apr 14, 2011 - 11:27am

Some of my friends lie about their salaries to make themselves feel better compared to IB. I know this one dude who is working for BAML Risk say his sign on was 15k and base was 75k LOL. This was right after I told him the general range of my salary.

 
Apr 14, 2011 - 11:43am

Malakari:
Some of my friends lie about their salaries to make themselves feel better compared to IB. I know this one dude who is working for BAML Risk say his sign on was 15k and base was 75k LOL. This was right after I told him the general range of my salary.

I have trouble with the sign-on part, but usually base salaries in risk are way higher than they are in IB. It's because people in risk are usually more educated (in terms of advanced degrees). The people from my MFE who went into risk groups at banks are making anywhere from 80K to 90K base. But their bonuses are capped at 30%, and realistically they will get around 20%. And this is all in Toronto. I imagine in NYC it should be more.

-MBP
 
Apr 14, 2011 - 11:44am

Salary datapoints for Big4 consulting/advisory/corp fin (Originally Posted: 07/28/2012)

Could use some help with this. Im evaluating an offer in NYC at one of these firms in the aforementioned practice(s). However, I am currently receiving typical IBD ($80k) compensation in a regional (and much lower cost of living) city. I'd be moving with a little over 1 year of analyst experience at a very large bank.

I love the job, and the hours will be modestly better. I know the bonus will suck, but I'd like to be able to extract as much as possible from this switch, in terms of base salary.

Can anyone on the inside (or with past experience) let me know what the salary ranges allocated to these business lines are for my level?

Alternatively, what would you guys expect if you were in a similar position (and were required to move to NYC)?

Array
 
Apr 14, 2011 - 11:47am
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