I just got hired as an experienced hire (senior associate) at KPMG for 78k. According to glassdoor, this is the very low end for Senior associates. The hiring partner and recruiter said they can't bump me higher because of my years of experience. (was making 69k at another large consultancy)
Jan 12, 2016
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“... I believe it was the single biggest reason why I ended up with an offer...”
had 14 months experience at prior consulting firm. Decided to leave because I wasn't getting specialized into a group and was on a bunch of random, unrelated projects.
What group?
MC
Advisory
Which group specifically within MC/Advisory? Is this 14 months total experience out of undergrad?
Yes out of undergrad. And technology enablement group within MC Advisory. Any thoughts on the original post?
That salary makes sense with only 14 months experience. That's why they are putting you on the lower end of the salary range.
I would think Senior Associates generally have at least 2 years experience (if not more) so makes sense you're on the low end.
yeah if you start as an associate at KPMPG usually takes 1 1/2 - 2 years to promote to senior- which is why I was gld I got the senior title with the offer. Just thought I should be compensated fairly for the work i'll be doing. But my original question was: do you all think the salary will equalize to what is on glassdoor/payscale/other sites...say next year when it is time for raises/bonuses?
Whats the bonus like..
Partner said up to 14% of base - dependent on performance. So, Aka probably less than 14%. Looking forward this next year's raise I suppose. Since it looks like I got lowballed. I hope the salary equalizes out with the rest of the Sr. Associates. Glassdoor is showing an average of 85-90k :(
You didn't get low-balled, Most senior associates are going to be at 2+ years of experience. Looking at it another way, you are only at 58% of the experience of a direct promote. (14/24 months)
So that's what my OP was asking...Is it likely that my 78k will equalize this year to 85-90k like glassdoor is showing for senior associates in advisory?
Maybe. Depending on your rating. All you need to get to 85K is a 10% bump which doesn't sound impossible. Question is whether KPMG allows for in-year transfers as eligible for raise considering when you started and when raises occur.
Also, check out going concern's KPMG comp watch threads. Depending on what city you're in, comp can be pretty variable. The thread usually has actual folks post salaries, levels, ratings, raises, etc. that may be a better representation that looking at glass door aggregate data.
Damn...I should have just grinded 1 more year out at my old firm and promote to sr. consultant and get my salary to 85-90k and THEN shop around. What a mistake I made. FML. Now I feel like it will take me another year to catch up with my peers
You're looking at 7k as the deciding factor?
That kind of salary difference is tactical in nature, and you need to look at your career choices strategically - especially the first few years. You'll be working for 40 years. Now is the time when you start defining your field and expertise. The work you do and the things you learn should always trump salary at this point.
yeah, you're absolutely correct. I just wanted to stay in the fast track lane because I am a performer. The entire reason I moved was because I was not getting a sense of specialization with my old firm.
What city?
Chicago. But I moved there on my own accord. I wanted to relocate from Atlanta- they gave me the option to stay put.
So they basically gave you a cost of living increase right? I'm looking at cost of living calculators and 65K in Atlanta is 75K in Chicago.
Exactly...That is why I feel I got low-balled. Hence- my OP...do you guys think my salary will bump up to par this year? Is there anyone who is actually even a SR. Associate at KPMG or even work/ has worked at KPMG who can give me a useful answer?
any sr. associates direct promotes at KPMG out there?
Yes, my comp is way higher but I'm a Senior Associate in EVS and I have an MSF. I made $81k as a Bval associate at a different big 4 with only internship experience.
so are you saying since I am at the low end of the scale, with this years raise and bonus- I may be put on par with the average sr associate salary (87-90k) my utilization is 95%.
Thanks guys. When do directors get together to discuss compensation? I know the new salary/bonus kicks in oct 31st. so I assume August-September? So this summer (june-july) might be a good time to have that talk with my pml?
bump
If you're that unhappy with the salary, quit.
You should also factor in what you're billed out at. Higher bill rates = higher salary.
yeah but the whole point of this thread was to ask if I go lowballed. Because I heard jumping ship from 1 company to another approximates to atLEAST a 20% pay bump.
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