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Money now vs. BCG on my CV

Someone asked on Oct 19, 2018 - 2 answers

I am a lateral hire / experienced professional.

I have received an offer to join BCG as consultant.

However, accepting the offer will mean a salary reduction of about 30% (in comparison with my current job, based in a different country with a better taxation).

Will it work if I ask them to increase the proposed gross salary?

Should I stay in my job (technical expert) instead?

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Guennael replied on Oct 19, 2018
Ex-MBB, Experienced Hire; I will teach you not only the how, but also the why of case interviews

Congrats on the offer. 30% is a lot of money, so o definitely understand. Still, I want to make sure you place things in perspective:

- First, the salary at BCG will increase at >10% CAGR. In 2 years after the next promotion, you will make more money than at your current job

- Second, there is also a significant bonus portion that you dont see in the salary. Dont forget to account for it

- Third, the benefits (healthcare) are second to none. Depending on where the job is, this could be huge. In the US for example, a specialist's visit and an MRI cost $5, and any medication is $4. Good luck beating that. If you have (or plan to have) young kids, the benefit will be substantial

- Fourth, having BCG on your resume will open door throughout your life, and bring instant credibility in the future. View this as an investment as well

- Fifth, you applied and spent a lot of time preparing, so theres obviously something about the job that appeals to you. Not everything is about the money

Having said all of this - you can go back to them and explain your situation. They may try to shift some of your comp forward - or increase it altogether, assuming you do indeed have a very specific and valuable expertise. Theres little harm in going through the exercise.

Hope this helps; congrats again!

PS: for everyone reading who hasn't gone through the interview process yet, please dont structure your final conclusion like I just did! In a conclusion, you will already have done the analysis, so you want to start with the answer first :)

Vlad replied on Oct 20, 2018
McKinsey / Accenture / Got all BIG3 offers / More than 300 real MBB cases / Harvard Business School

Hi,

I would definitely choose BCG. 30% sounds a lot, but taking into account the career progression with BCG (You can become a partner with 1M+ salary in 6-8 years) the current difference in absolute terms is peanuts.

Moreover, for a technical person, it's the best way to diversify the background and add the business profile to your resume

Best