Offer from Deloitte, with a paycut

Hello everyone!

I am new to this forum and was so glad to have stumbled upon this site. I was hoping to receive some input from the members on here regarding a dilemma I'm facing.

I have received an offer to join Deloitte as a Consultant. I'm currently with a small firm making what a senior consultant would make over at Deloitte. For some reason, after the interview process, they decided they want to bring me in as a consultant even though I'm at a senior level now. If I was to take this offer, I'd be taking a pay cut of $15-20k annually.

My recruiter mentioned that Deloitte offers annual bonus and raises which would make that cut not as significant after a bonus payout. She also mentioned that given my experience and depending on how hard I work, I may get promoted to a SC after a year. Typically its within 2 years but its all up to me. It is a hard decision to make given the fact that I will be taking a pay cut and not knowing when I'll recoup that money or how long it will take but I am aware that Deloitte is a great firm to work with.

What are your thoughts on my situation? Would it be worth taking a pay cut to join Deloitte? Has anyone here been or is currently with Deloitte ever seen such a promotion from C to SC after a year? Are they generous with annual raises and/or bonuses? How realistic would it be for me to regain or even surpass the $15-20k salary cut?

Thanks in advance and hope my questions were articulated clearly enough!
Cheers!

 

Yeah normally when coming from a smaller firm these large firms want to make sure you qualified to be a senior. Senior consultants are running their own work streams and generally manage their own staff and deliverables etc.

I'd take the job and kill it your first year to secure that promotion. Your ceiling will be much higher at Deloitte and better exit ops etc.

 

I agree with all the advice so far. To look at it in another way, is there any chance of promotion at your current role? Thinking you could get the best of both worlds if you had a shot at promotion at your current company and then re-apply to Deloitte.

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Best Response

I would take the Deloitte offer. $15k is not a big deal in the grand scheme of things. Reputation matters more in the long run.

What I like most about big 4 firms like Deloitte is that they offer a very clear path for career progression. Assuming you get a 3 rating or higher, you will pretty much always get promoted after 1-2 years. On top of that, you are elegible for huge bonuses (19% for senior consultants) if you do well. Smaller firms do not alway guarantee this.

From a numbers perspective, let's say you are making $85k now, the most you would likely be able to get from a jump elsewhere is probably $95-$100k If you take Deloitte, dropping down to $75, you could get promoted in a year (10-15% bump) and make a bonus on top of that. By your second year you could already surpass where you would have been at with the other job. This is not even assessing exit opportunities if you decide to leave.

Senior Consultant, S&O | Deloitte
 

I definitely see your point and thank you for your input. If there's one thing I learned, always negotiate an initial offer no matter what. I negotiated and went back and forth with HR and they finally came back with a much higher offer. I will most likely accept and take all of your advices. Thanks again everyone for chiming in!

 

I definitely see your point and thank you for your input. If there's one thing I learned, always negotiate an initial offer no matter what. I negotiated and went back and forth with HR and they finally came back with a much higher offer. I will most likely accept and take all of your advices. Thanks again everyone for chiming in!

 

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