about LEK's pay

Question

i saw LEK's salary on another website:

Base: $165,000

Performance Bonus: up to $25,000

Total Cash: up to $190,000

its not even as high as FAANG total compensation for MBA, plus LEK is known for long hours

can someone help me to understand if the data is not accurate or what makes LEK better than FAANG

Answer 1

Hello!

I guess tha rational behind is to attrack talent, but tech indeed pais way above market.

Furthermore, work-life balance is much better.

I went from McKinsey to Amazon so let me know if you want some more insights about my personal experience.

Cheers,

Clara

Answer 2

Hi,

FAANG will be always better in salary + equity, especially if you consider it per hour.

The downside for FAANG is much slower career growth. In fact, you have almost no growth. So your cumulative income in 5 years might be much higher with LEK. Of course, you should also take into account the stocks. If you are lucky with the market, the equity part can offset the career growth.

I would rather look at your overall career goals:

If you want to continue in tech, then it's better to start there directly and become a very narrow specialist as early as possible (e.g. product manager)
If you want to transition to MBB or get the roles in strategy / ops teams - consider LEK.

I have a background in both consulting and Tech and looking now at the industry I see that consulting is becoming almost irrelevant for a successful career in tech. The earlier you specialize - the better. Pls keep in mind that it's applicable to the US market only and might be different in EU

Best

Answer 3

Hi,

Yes, you are correct. This is the pay for consultant-level.

Big Tech has some huge compensation schemes, especially leveraging stock options. The work can indeed be less (but also sometimes more).

The downside? Less overall exposure to a range of industries and topics. Career moves after Tech a slightly (read: slightly) narrower.

Note: Exit opportunities for Strategy Consultants and FAANG ARE DIFFERENT. Don't be young/short-sighted...think about what you want to do 5 years from now and which choice leads to better opportunities. Either way, you're going to get paid a ton AND work your butt off...figure out what will make you happier in 5 years, not will make you slightly richer.

Answer 4

hi, I confirm salaries are comparable, while work-life balance not. It depends on what is your career goal, consulting can be viewed as a great school to grow in in order to join mgmt positions in great companies. FAANG are great companies and will have a strong impact on your cv too. Feel free to text me for a quick chat about it

Best,
Antonello

Answer 5

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Answer 6

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Answer 7

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