Hi, I'm wondering the average salary info for Business Risk group Consultants at Deloitte and other big 4 in Los Angeles area. Have masters in accounting and CIA plus a few yrs relevant experience. Received an offer and it looks ridiculously low (Mid 50s). I thought this is what they pay for a new grad entry level jobs. Please share your opinion!
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last year i had an offer with deloitte i think it was for FAS 56k, i dont think there was a signing bonus i dont remember.
out of undergrad.
I am in DC and speaking about a different skill set within ERS but...
From my specific university with an Info Systems degree it is 65k plus signing bonus, 2011 offers.
From a very reliable source, (close friend), Majored in Accounting from a lower tiered program, no CPA or MS, 54k plus signing bonus was his offer.
I think location, SOL, and program play a large part in this. (LA is high sol so you got me there) Are they placing you in a "senior" titled position or entry level titled one?
Thanks for the insight. The title is consultant. I guess it is the same for undergrad or experienced. One above is a senior consultant. That's why I was very surprised with all my qualifications and LA area, the offer seemed very low.
Ah,
That may be it mate. You applied for an entry level position they already had a preconceived idea of what they were looking to offer. Advice I've gotten listening from people in similar situation with big 4
Dont try and negotiate. Unfortunately they will just go to the next name on their list
Why big 4? If its for the name, It may be worth it to you to ride it out for 2-3 years, slight upward mobility, stamp your card and move on.
My own PERSONAL advice. If that is the only offer you have on the plate I would accept, then take reason #2 above into consideration.
such an asian question. It's an entry level position. If you're worried about salary, you're doing something seriously wrong.
that offer seems way low for a guy who already has a few years exp.
like someone said above...i would ride it out for a couple years. I know for a fact Deloitte consulting pays better than ERS so there would always be an option 2-3 years down to make more $$.
As for PWC vs. Deloitte I would go with Deloitte (for the same reasons above) unless pwc is paying a lot better.
mid 50k is a joke esp in SF. I couldn't imagine living on that much there..
So I work at Deloitte. I don't know about ERS since I'm in the S&O consulting arm, but I will tell you this that all of my accountant colleagues have told me. Those getting recruited from MAcc programs get the same base as those form UG programs. So you shouldn't expect your masters degree to give you a boost. In your business line, you should check to see if consultant is the entry level, or if they have a business analyst level below that. If there is a business analyst level below, you are getting short changed, since business analysts usually get 55K starting in my office, straight out of UG. People coming out of (non accounting) Masters programs or with a couple years of good experience start at the consultant level (which is 2 years ahead of a business analyst). Consultants usually get around 75-80K in my office. Senior consultants are usually post MBA hires, and the range is much bigger. I've heard base salaries as low as 90K (laterals or coming out of shittier MBAs), and as high as 120K coming out of top MBAs. My base is 100K, and I lateralled in from another firm after 3 months of being there (basically three months after finishing my MFE).
This is all for my group though, and it could be vastly different in other groups. I don't know where yours falls in the grand scheme of things, but I do know that we are paid CONSIDERABLY more than our accountant brethren. ERS may fall somewhere in the middle. If consultant is the first level (i.e. entry level), then your offer doesn't sound so bad.
This is the career progression you can expect if you start at 55K
Consultant (2-3 years) 55K, 60K, (65K) Senior Consultant (2-3 years) 75K, 80K, 85K Manager (3-5 years) 100K, 110K, 120K, 125K, 130K Senior Manager (4-5 years) 150K, 160K, 170K, 180K, 185K, 190K Partner - if you get here, you can do very well. If you don't and get stuck at Senior Manager (even that's not guaranteed) you will peak at 200K and get inflation adjustments to your salary.
I hope that helps.
I think MBA comp for deloite was 130+40 or something like that. +10 if you sign early, +tuition for 2nd year of bschool if you interned there. Or something like that.
Anyone can suggest me a way for negotiating? I didn't negotiate for my previous job so no experience there. Should I attempt to negotiate for a bit higher salary or as Partner-in-Crimesulting said even attempting will eliminate me from their list. Can they take back their offer?
Any insight is much appreciated.
Thanks!
Do you have other offers? Do you need this position? How you negotiate depends a lot on the answers to these questions. You can be aggressive or placid in your approach, and each approach has different risks/rewards. I went balls out in my negotiations and did quite well, but it was because I had nothing to lose. I was already working somewhere making good money with a good future there. When D came knocking with their offer, I basically just told them that I won't even consider it unless my terms were met. They needed me more than I needed them in this case, so they agreed. You also need to decide how rare your skill set is. If it is rare, and they won't be able to easily replace you, you can ask for a bit more.
No matter what though, negotiating is not grounds to have your offer rescinded.
The most docile approach is just to call up HR and ask which parts of the offer are negotiable. This of course puts the ball in their court. If they say "the base salary is not negotiable, neither are the benefits or vacation, but there is wiggle room in the signing bonus". Then you can ask them to double your signing bonus. They probably won't go over 20% of your base salary, but it should still be something to sweeten the deal.
Thanks for your respond. I am currently not working that's the biggest issue I guess in negotiating. But, as you said, I may just ask if there is anything that can be negotiable. And if I was told none, I will go with it.
you are.. not.. working? AND YOU WANT TO F**KING NEGOTIATE SALARY?
be thankful you have a job offer in this economy. in 2008, Deloitte let go about half their ERS staff
it is an entry level job and mid 50's salary seems right on the mark for that position. since you have no other options at this point, go get that work experience, after all Deloitte is a pretty big name.
Manbearpig is pretty much right on. Since ERS is part of the audit wing rather than consulting, salaries are lower. Here's my two cents: -Big 4 (outside of their consulting) are organizational inflexible when it comes to hiring people with experience. If you don't have direct experience in what you are going to be doing, they will almost always peg you at the last degree you got (as someone said before, they treat MAcc same as BA/BS). -Don't negotiate - unless you're getting a manager or above level job, there is virtually no ability within the organization to negotiate (and as someone said, they will often pass and take #2 on the list) -Deloitte is notoriously bad at adjusting for living expenses, can't speak for the others -All of this said, my experience is that once you get within the organization, if your past experience truly is relevant, you will quickly be put on a much faster track than someone without that experience. This doesn't mean internal mobility between business lines (e.g. moving from audit to consulting) - from what I can tell, this is a total myth.
Thanks for everyone for their opinions. I've talked to HR and nicely asked if there are any parts of the offer can be negotiable. I got full of bs that the offer is very strong and it reflects my past experience and education blah blah and it is more than what they pay for new grads. Anyway, I accepted the offer since I need this job and Deloitte name on my resume (hopefully it will pay off in the long term).
Very good mate,
Best of luck.
You'll be fine, don't sweat it. In two years, you'll be in a good position to demand 80K plus on the base from EY/PwC.
Deloitte ERS Business Risk Consultant offer -- salary and exit ops? (Originally Posted: 11/09/2011)
So I just got word that I will be receiving an offer from Deloitte ERS yesterday. The position is for a Business Risk Consultant focusing on enterprise risk management and regulatory/compliance work with energy and utilities, based in Houston. I wanted to know if anyone could shed some light on career progression opportunities here and exit ops
I'm interested in risk management in the energy sector, whether from the regulatory or the finance/economic angle, and at the same time I've been trying to break into consulting (I'm a recent graduate with a non-consulting/non-finance background). I realize that ERS is a different arm from Deloitte S&O, but the work with energy/utilities clients sounded interesting and appeared to gel with my interests.
However, when I received the offer, I was disappointed with the salary: base of $55k with $5k sign-on bonus. This is significantly below what my friends are making in consulting positions elsewhere (NB: again, I'm well aware of the differences between MBB and Deloitte S&O and this position), and it is even lower than many government positions I could have applied to (I live in the DC area). Not to sound entitled, but with a BA from a top-5 target and a master's in social sciences from Oxbridge, I thought I could do better. Then again, as someone with no experience in consulting or finance, I know I need to start somewhere, plus Deloitte is a good name to have on the CV.
Should I take the offer? I've got no other offers on the table, and since I still haven't heard from MBB or PwC (where I applied in September), I'm not sure if I have any choice, given the state of the economy.
Does anyone know what the career progression is like within Deloitte ERS, as well as whether I might be able to leverage this offer to go elsewhere in 18 months?
Also, what are the exit opps from this position? My plan is to go to b-school in a few years.
All Deloitte people except S&O start at that. Unless you're working at a bank, you aren't going to make much more than that your first year.
If you want an MBA i don't think exit options matter, but ERS sets you up for positions within internal audit/compliance/risk mgmt.
sounds like a good start to me in this economy...plus experience puts you in line for great career progression
You are lucky with the 5k bonus. In the New York office, there is no signing bonus............
You are lucky with the 5k bonus. In the New York office, there is no signing bonus............
I know you don't mean to sound entitled ... but you sound pretty damn entitled.
Yeah, after I put the post up and looked it over I was expecting a comment like this. I just wanted to find out if there were any higher-paying opportunities that I might be overlooking.
As I said above, though, given the nature of the job market at present plus my own relative inexperience in consulting I can't tell if I'd ever get an opportunity at a firm like this sometime soon, so I'll probably end up taking it.
Take the offer and get over yourself, there's no shortage of smart people in the world
Bump
One question regarding b-school: would a consulting position in ERS set me up any differently for a top-10 program vs., say, a position in S&O?
I'm kind of surprised that Deloitte's pay for entry level S&O is around 55k seeing that they're such a reputable firm. They seem to do well on the rankings, and in speaking with a couple of consultant from the Toronto office they are high caliber individuals as well. Does Deloitte try to sell the work/life balance a bit more than other top firms to make up for the lower compensation?
Deloitte ERS Salaries (Originally Posted: 10/20/2011)
I have heard several posters mention that people in Deloitte ERS are paid less than in Deloitte Consulting. Even so, can the people knowledgeable about such matters throw some light on to those salaries?
What would a Senior and Manager expect to make at Deloitte ERS? Also, how many years of pre-MBA relevant experience does a Manager have on the average? Any Deloitte insiders willing to provide me this information?
Deloitte Enterprise Risk Services (ERS) = IT Audit I know at EY, the group is called ITRA (IT Risk and Assurance), not sure about PwC and KPMG.
What you're essentially doing is testing ERP system controls and running analytics on large datasets. It's less "consulting" and "finance" and more "IT". You are effectively audit support to the main engagement team in making sure that the auditors can rely on the outputs from IT systems from which the client gives them reports.
Once you've had some significant experience there, you MAY be put on a more IT-Consulting type role... but even that will be an engagement to ensure that a system is functioning/installed properly, or to see if there are any control or implementation issues. Anything more IT-Strategy related will go to the consulting group.
That said, from what I've heard - they pay slightly higher than audit, and I just had a friend start in Toronto at $46k. No bonus. No signing bonus.
Compare that to starting audit salaries at $45k in Toronto (not a huge difference). Obviously, NYC salaries will be somewhat higher (maybe 50-52k), while salaries outside of those areas will be lower - $38-40k.
Senior salaries in Toronto would be approximately $65k - maybe a $3-5k bonus (if you're a top performer). Managers start around $80-83k - no bonus for a new manager - small bonus as you get more senior.
MBA is not exactly an easy path from ERS (unless you're able to leverage your connections into the main ops/strategy consulting group) and almost nobody (most likely nobody) will have the MBA in the group.
You become a manager after 4-5 years, senior manager after 8-9 years, partner after 14-18 years. If you're hoping to leverage ERS into anything but IT Audit... it'll be a challenge without the MBA (which won't be easy to get into in the first place). You do almost no real accounting (outside of getting your CA/CPA), and your role is focused on IT and ERP systems - so its a much narrower field than audit in terms of exit ops (for whom exit ops are weak anyway). You may even be asked to do an IT or IT-Audit related certification.
Well, I already have an MBA, or will by the time I join in 2012. The salaries seem kind of low. However, I do appreciate the detailed answer.
I think that my 115k+10k offer from PwC Advisory is sounding better by the day, although I do know that's lower than what my classmates have been offered by E&Y.
I do have 6.5 yrs of work ex (IT in FinServ). There is a possibility (just a possibility) that I may get a Manager offer with Deloitte ERS. But if the salaries are this low, I think I would prefer Senior Associate with PwC.
It's possible that as an MBA candidate, they're really hiring you for the more IT-Consulting side of the business - rather than the audit side. Unfortunately, I don't have enough experience with that to say for certain the kind of salaries you'd be looking at.
That said, with a reasonable MBA... I think you could do better than ERS at any salary.
Yeah, that's what I was told. Let's see what Deloitte offers me, that is, if they offer me a job at all :)
BUMP! How much does a Manager (with MBA) at Deloitte ERS make in the US?
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