Leaving management consulting just for salary rise?

consulting exit salary
New answer on Jul 13, 2020
5 Answers
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Anonymous A asked on Jul 09, 2020

I have been offered 44% salary rise and promotion to manager role in a tech company (nothing really fancy not a big name).

I really enjoy working in consultancy so I wonder if it really makes sense to leave just for money and manager tag on my LinkedIn profile.

I cannot expect more than 10-15% salary increase at my current role, yet once I am promoted hopefully next year I would get better money then current exit offer. Of course there's a risk they will not promote me next year and I'll need to wait 2 years for a promotion.

All in all I believe it does not make sense from the strategic point of view to leave for something that I am not really excited about just to temporarily better off on my pay slip, however some say that you should be opportunistic and leave once another company wants to pay more for your skills, so you maximize your earning potential. Sometimes I see Liniedin profiles who change jobs every 2-3 years and they seem to be promoted faster then ones who decide to stay in one company for 10+ years, so seems that strategy also works well for some people.

What's your opinion on leaving consulting for 44% salary increase while not being really excited about the new job anyway?

(edited)

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Anonymous B replied on Jul 09, 2020

Don't do it especially if you work for a top tier consulting firm. You only get to leave once and it is in your interest to leave for an opportunity you are truly excited about. In the long run money tends to even out

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Robert
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replied on Jul 11, 2020
McKinsey offers w/o final round interviews - 100% risk-free - 10+ years MBB coaching experience - Multiple book author

Hi Anonymous,

To me it sounds like a trade-off between short-term salary increase vs. long-term career development.

From that perspective I am wondering whether in the long run it would not bring you a much higher cumulative income if you focus right now on building your profile in an intellectually challenging environment with a hopefully very steep learning curve, which will increase your future opportunities and income potential exponentially (I remember a fun-to-read book on that, I believe it was called something link "So good that they can't ignore you")? (Apart from that, I personally would not want to rely on one specific income stream in the future, especially if you get paid last after-tax money - but that's another discussion)

Hope that helps - if so, please be so kind to give it a thumbs-up with the green upvote button below!

Robert

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Clara
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replied on Jul 13, 2020
McKinsey | Awarded professor at Master in Management @ IE | MBA at MIT |+180 students coached | Integrated FIT Guide aut

Hello!

To add on top what has been said, totally depends on:

  • Current firm and status (for instance, I would not leave MBB with that scenario)
  • Your goals
  • Difference in work/life balance they offer
  • etc.

Hope it helps!

Cheers,

Clara

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Anonymous replied on Jul 10, 2020

Dear A,

I would definitely recommend you to speak to your mentor regarding this offer which you have, and may be also try to negotiate getting salary increase in consulting soon in order to maintan yourself. I belong to the cohort which you have described, who are changing the jobs every 3-4 years, because this really allows you to get the most of the financial potencial and still having a various deep learning curve. I was actually able to double my earnings just within 6 years.

If you want I can also give you tips into long-term career building band, becoming successful from the financial prospective. For any questions, just drop me a message.

Good luck,

André

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Francesco
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replied on Jul 10, 2020
#1 Coach for Sessions (4.000+) | 1.500+ 5-Star Reviews | Proven Success (➡ InterviewOffers.com) | Ex BCG | 9Y+ Coaching

Hi there,

It is really difficult to answer without knowing your goals.

For some people, money is everything. Although they usually end in IB and not in consulting ;)

For others, the job itself is far more important.

Since it seems money is not relevant for you and you are not much interested in the new job, it doesn’t seem a great idea to move.

If you can share what is relevant for you long term, I think we can provide a better answer.

Best,

Francesco

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