Just got an offer, and the base salary that the firm proposed to me is already higher than my baseline. It is already good. However, I am unclear about the firm's budget for this role (checked the website and data sources, but very limited information).
Do you think I should accept the package, given that it is already good enough? Or, should I “always” try to negotiate a higher base salary, in case they actually could push the salary higher and are actually lowballing me?
Hi there!
Congrats! Amazing that you got an offer!
In terms of whether it makes sense to negotiate, it really depends on the firm. Almost all of the big firms have a fixed base for each role. So it makes no sense to negotiate.
What you can negotiate almost always are the signing bonus and the relocation bonus. These are rather set on a one-by-one basis.
If you're just starting as a consultant, sharing also a couple of articles that you might find useful to read to hit the ground running:
Best,
Cristian
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Hi there,
Congratulations on the offer! In terms of your question:
Q: Do you think I should accept the package, given that it is already good enough? Or, should I “always” try to negotiate a higher base salary.
Normally in consulting the base salary for a given position is fixed for everyone. What you can usually negotiate is:
The easiest way to negotiate is to have an “opportunity cost”, ideally due to another offer (or, in the case of relocation, to actual costs present).
If you do not have an alternative/opportunity cost, given in your case the offer seems already higher than your current salary, I would not see much room for negotiation.
Best,
Francesco
Hi there,
depends on your situation, the specific company & geography.
Note that for most “up or out” firms, base salaries are not negotiable and link to the standard career levels in those firms. For lower tiers, there's usually room to move here as well.
Comp elements that usually have more flexibility are
Whenever you try to negotiate, make sure you come prepared and have data points (comparables, student debt, proof need to relocate etc) you can build your case on.
Hope this helps.
Regards, Andi
Hi,
If this is MBB, then the base package is not something that is negotiable.
If this is an industry role or T2 firm, there may be some opportunity.
I would definitely try and negotiate, but first try and get some benchmarks by networking smartly. What's the worst that could happen if you ask and they don't give you a higher amount?
Hi there,
Congrats on the offer!
Look, honestly, it depends on you.
Personally? I always negotiate. And I've always succeeded in getting more.
But, many are happy to not rock the boat and happy with what they have offered.
There is risk only in the case where you do it wrong. I know of people who negotiated improperly and had the offer rescinded. However, if you handle it correctly, there is no risk.
Your decision ultimately…do what feels right in your gut :)
Hi there,
if it is an offer from a tier 1,2 or 3 consulting firm, then the base salary is most likely tied to the role your being offered. Every consultant gets the same. This also goes for the general bonus range applicable to you. As mentioned as well, the variable (negotiable) components would be a one-time signing bonus an/or a relocation package (if applicable).
I would try to negotiate there to see what’s possible. But since it sounds like you are already satisfied with the overall offer, I wouldn’t push too hard to potentially risk something.
Good luck
Hi there,
There is a character trait called ’agreeableness’ and agreeable people get paid less on average. That’s because, generally speaking, they’re not good at negotiating on their own behalf. Assertiveness training can help with that, or even the mere awareness of where you rank on the scale (my guess is you’re probably more on the agreeable side).
My point being that this is ultimately a question of character and your ability to overcome certain aspects that hold you back, as opposed to some absolute standard.
In your case, you may find it easier to negotiate other elements besides base salary, such as target bonus percentage, holidays, car plan, pension contribution, signing bonus, etc. The list goes on…
Let me know if there’s anything I can do to help. Best of luck!
Moritz
Hello,
Could you give us a bit more detail on the position - is it entry-level, or more senior?
I don't think you always have to negotiate a higher base salary, especially if you are happy at its set level. However, if you are up for a more senior position, you should also feel free to try to negotiate it higher. The worst they can say is no, after all.
If you are going for an entry-level position, chances are the base salary is not negotiable. However, you could negotiate for other things such as hiring bonus or relocation bonus.
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