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Banking Tech vs Consulting

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  #51 (permalink)  
Old 17-06-2021, 05:27 PM
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It's a tough one.

From a career standpoint, as a junior, unless you're in the strategy consulting team (with a differentiated pay scale compared to their mgmt consulting arm), you're probably going to be on the same trajectory as a banking tech guy. On average 3 years to 6k, 6 years to 9k monthly gross pay. I understand from an external market perspective, they did a recent consolidation between the 2 units - strategy and mgmt consulting - but apparently their compensation structures are still differentiated.

However, as a partner / MD in ACN's case, it's a good deal because they deal in mega transformation projects. Many juniors want to be in sexy strategy short term 3-month projects, and that's fine because its interesting and market pays relatively well. But as you move up in seniority, partners want more stable revenues with less BD effort and hence prefer to sell large scale long-term transformation projects.

From a market recognition standpoint, ACN's main strength is in digital / tech, not in Strategy. If you want to rank it based on pay, ACN strategy pays 10-20% less than OW / ATK at junior levels, and similar to RB. Any other unit in ACN pays significantly less than all the tier-2s. Prestige ranking is subjective, and very dependent on region, so probably won't lay it all out here.
Also have to note that some banking tech graduate programmes are contract-based, so they are not necessarily the best places to start at, and conversion is not guaranteed.

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  #52 (permalink)  
Old 17-06-2021, 05:29 PM
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Nope. ACN S&C donít pay 10-20% less than Tier 2. Firms like Kearney & OW pay from 6-7.5k ish and when they merged to 2 units, the starting pay for analyst is at arnd 4.8k base.
Strategy Analyst 3 years ago started at 5.6k. Not sure how it is now after the merger. From what I understand from 2nd/3rd level connections, salaries are still differentiated. The 2 units are merged, but there are salary differences based on the sub-unit you are in.

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  #53 (permalink)  
Old 17-06-2021, 05:29 PM
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Nope. ACN S&C donít pay 10-20% less than Tier 2. Firms like Kearney & OW pay from 6-7.5k ish and when they merged to 2 units, the starting pay for analyst is at arnd 4.8k base.
you mean starting salaries for Kearney & OW is 4.8k now?



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  #54 (permalink)  
Old 17-06-2021, 06:03 PM
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you mean starting salaries for Kearney & OW is 4.8k now?
Nope. I meant the merged S & C unit in ACN.
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  #55 (permalink)  
Old 17-06-2021, 06:37 PM
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Well u guys will find it hard to believe. But ACN fresh grad strategy analysts start off with 6.5k now.
Next rank in acn strategy is now near 9k.

After the 'merger', management consulting people did not get an increase.
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  #56 (permalink)  
Old 17-06-2021, 06:39 PM
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Well u guys will find it hard to believe. But ACN fresh grad strategy analysts start off with 6.5k now.
Next rank in acn strategy is now near 9k.

After the 'merger', management consulting people did not get an increase.
False. S&C merged and everyone is now on the same pay scale. Figures is 4.8k for fresh analyst (accurate on the date of the merger).
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  #57 (permalink)  
Old 17-06-2021, 07:36 PM
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False. S&C merged and everyone is now on the same pay scale. Figures is 4.8k for fresh analyst (accurate on the date of the merger).
Nah its not. Besides, tech analysts are already getting 4.9k now
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  #58 (permalink)  
Old 17-06-2021, 07:42 PM
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Nah its not. Besides, tech analysts are already getting 4.9k now
Yes it is LOL. Iím talking about base excluding allowance. Besides, tech analysts only have their pay revised a few months back to 4.5k.
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  #59 (permalink)  
Old 17-06-2021, 07:45 PM
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Yes it is LOL. Iím talking about base excluding allowance. Besides, tech analysts only have their pay revised a few months back to 4.5k.
U are in management consulting i assume? Have you asked anyone from strategy?
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  #60 (permalink)  
Old 17-06-2021, 07:49 PM
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U are in management consulting i assume? Have you asked anyone from strategy?
My goodness. There is literally no differentiation between consulting and strategy at ACN now. What do you think the rationale was behind combining S and MC to be S&C (as it is known now)?

Started in S&C in May last year (4.8k base).
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