Strategy& Offer Abroad: Currency & Other Questions - MBA Senior Associate Role

anddrew98's picture
Rank: Monkey | 30

Greetings All-

Quick Background: Booth MBA grad (June 2016), evening program, still working full-time at my current (soon to be former) employer. Been heavily invested in my job search and just got my first offer, to join Strategy& in Sydney as a Sr. Associate.

My question is this: their first offer was 148k base, 22k signing, 5k relo, avg. annual bonus of 18% (25% max). So, on paper, this looks like a decent offer in line with what I've seen recently on some of the forums for management consulting. However, what I don't know is whether these amounts are quoted in USD or ASD (asking for clarification). Obviously with the exchange currently at .75 ASD / USD, this goes from a 'market' to a lowball offer, given that the relocation duration for me likely going to be only a year or two.

My questions are this:

1) I assume these offer letters are negotiable? Would love to know before I do something foolish
2) If quoted in ASD, would it be inappropriate to ask for an adjustment for currency translation?
3) Would it be appropriate, separately, to use COLA as a negotiating lever - Sydney being 11% higher than Chicago

I've got about a month to accept this offer and am also trying to nail down an offer domestically from Oliver Wyman among some other things in process. While I'm certainly excited at the prospect of a workcation in Sydney for 1-2 years, I need to be sure I'm not shooting myself in the foot financially.

Any advice is appreciated!

Thanks

Comments (4)

Best Response
Nov 3, 2016

As a former PwC consultant, I've had many team members join as experienced hires such as yourself. I would definitely say there is always room for negotiation. If its not at the base salary level, for sure the sign-on or relocation (or both).

I would agree that you should definitely has some support/data to back up your negotiations and why it should be X amount versus Y. COLA is one I've seen people use, others are what market rates are for your role at Deloitte/EY, but since this is for a position at Strategy&, you can use MBB since that who they try and compete against.

    • 2
Nov 3, 2016

Thanks Hugo - much obliged.

Nov 3, 2016

Congrats on landing an offer. Sydney would be a great place to spend some time once in your career.

The offered base is a very good salary in Australia. Note, salaries aren't as high as in the US and the COL in Sydney would be considerably higher than the US IMO.

How many years experience do you have so far? This is one critical piece of information you have left out.

The relocation stipend is small. Do you have family tagging along? Will you be needing temprorsry accommodation like a serviced apartment while you look for something more long term? I would ask double to be safe.

Bonus is very good as Australian professional services companies do not pay out large bonuses until Partner level.

Lastly, currency conversion is played less and less thesedays. Keep focusing on your role duties, past experience and COL adjustments. I think the COL will surprise you, so emphasize this. And note that flights from Australia to anywhere are very expensive due to its remote location - takes five hours to clear mainland Australia much like the US.

    • 1
Nov 3, 2016
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