Strategy& compensation was updated so wanted to share with the community since there seems to be a lot of offerees or potential candidates.
Our associates will now make 85K from 75K. Our post-mbas will now make 168K from 150K. All cohorts, EXCEPT experienced associate levels will be adjusted accordingly. However, with this raise came another disappointing news - our internally promoted senior associates will now make 148K rather than the post-mba 168K.
I'm an associate in S& and i've got to say, this is pretty disappointing to say the least. Not only did they not raise experienced associates, they have disincentived associates to stay for promotion. The logic that leadership shared was that they wanted to encourage associates to get their MBAs before returning - which is fair. MBAs and two years of experience helps tremendously in a client facing business, not to mention the network from t10+ schools that our associates join. However, instead of improving on the scholarship program that S& offers or offering someone to actively incentivize boomerang associates, leadership has decided to remove money from the table. Our scholarship program is a 100% full-ride; however, you're forced to intern and return to strategy& full-time for three years - a clear step below any other strategy consulting firm.
News was just released but sentiment and morale is pretty low on the associate end. I would expect churn to continue increasing - but our campus pipeline will most likely expand since we are now out-paying most of our competitors. Happy to try and answer any questions as candidly as possible from folks.