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benefits in Big4 Management Consultancy

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  #1 (permalink)  
Old 20-10-2014, 11:32 PM
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Default benefits in Big4 Management Consultancy

Hi,
I am negotiating a job as a consultant in one of the Big 4. Can someone tell me more about their benefits, so that I can negotiate the salary more effectively? They are offering me 1 year contract, renewable.
Do they pay for some of the job-related training programs that I may attend in Singapore? If so, I can settle for a slightly lower salary.
What about their medical benefits? Is the family covered?
The more I know, better I can negotiate with HR.
Thanks,

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Old 21-10-2014, 02:03 PM
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Quote:
Originally Posted by boongaylim View Post
Hi,
I am negotiating a job as a consultant in one of the Big 4. Can someone tell me more about their benefits, so that I can negotiate the salary more effectively? They are offering me 1 year contract, renewable.
Do they pay for some of the job-related training programs that I may attend in Singapore? If so, I can settle for a slightly lower salary.
What about their medical benefits? Is the family covered?
The more I know, better I can negotiate with HR.
Thanks,
Are you for real? You have the opportunity to join a top paying firm that almost every top grad from Ivy is dying to get in and you are hung up on training expense reimbursement and medical benefits?

BTW, I didn't know they open consulting associate roles on 1 year renewable contracts these days. I've always thought they hired MAs on perm basis and usually an offer is made even before a candidate graduates.

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Old 21-10-2014, 02:30 PM
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Are you for real? You have the opportunity to join a top paying firm that almost every top grad from Ivy is dying to get in and you are hung up on training expense reimbursement and medical benefits?

BTW, I didn't know they open consulting associate roles on 1 year renewable contracts these days. I've always thought they hired MAs on perm basis and usually an offer is made even before a candidate graduates.
Top paying firm - depends on what you call top paying and how many people draw such amounts. Many folks in my company (name withheld) draw a mere 2-3k per month. Some draw more than 20k per month, but these are the partners. Most others draw varying salaries (not top paying) and need to jump jobs every 2 years to kepp up with the cost of living.

Training and medical benefits - what is wrong in these? Many companies offer them, including big4.

Yes, many managers/consultants in my company (most from NUS/SMU or other private uni, none from Ivy Legue) work on contracts. Sometimes contracts become regular jobs, other times the contracts simply expire. Some of these are mid-career professionals struggling to make ends meet.

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Old 21-10-2014, 02:42 PM
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Are you for real? You have the opportunity to join a top paying firm that almost every top grad from Ivy is dying to get in and you are hung up on training expense reimbursement and medical benefits?

BTW, I didn't know they open consulting associate roles on 1 year renewable contracts these days. I've always thought they hired MAs on perm basis and usually an offer is made even before a candidate graduates.
I think TS mean big4 account/audit company - E&Y, PWC, DT, KPMG. That expalin why he is on contract and asking for things like benefits.

Advise to TS, nobody out there call these companies big4 management consultancies though they sometimes do certain projects like mgt consultancy. Your title give the impression that BCG, McKinsey, Bain, Oliver Wyman (these are the big4 management consultants btw) offerd you a consulting job.

For big4 account/audit especially for contractor jobs, treat it as a good opportunity to earn some experience and build CV. Its more or less like a sweat shop with high turnover due to the stress and work hours, do not expect too much in terms of benefits or the company to invest in your development.
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Old 21-10-2014, 02:43 PM
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Top paying firm - depends on what you call top paying and how many people draw such amounts. Many folks in my company (name withheld) draw a mere 2-3k per month. Some draw more than 20k per month, but these are the partners. Most others draw varying salaries (not top paying) and need to jump jobs every 2 years to kepp up with the cost of living.

Training and medical benefits - what is wrong in these? Many companies offer them, including big4.

Yes, many managers/consultants in my company (most from NUS/SMU or other private uni, none from Ivy Legue) work on contracts. Sometimes contracts become regular jobs, other times the contracts simply expire. Some of these are mid-career professionals struggling to make ends meet.
Think some confusion due to the title. TS probably means big4 audit firms and not big4 management consultancies.
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Old 21-10-2014, 04:46 PM
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Originally Posted by boongaylim View Post
Hi,
I am negotiating a job as a consultant in one of the Big 4. Can someone tell me more about their benefits, so that I can negotiate the salary more effectively? They are offering me 1 year contract, renewable.
Do they pay for some of the job-related training programs that I may attend in Singapore? If so, I can settle for a slightly lower salary.
What about their medical benefits? Is the family covered?
The more I know, better I can negotiate with HR.
Thanks,
I am also confuse over the title like the rest, base on above post i assume u r talking about the Big 4 auditors instead?

If u have a proper job now, my advice is not to take up a contract role.

If u r unemployed for some time already, my advice is just accept and grab whatever that is offered.

I was once a contractor in KPMG as well, all I can say is they treat all jr staff regardless of perm/contract like revolving doors. You happy accept and work, not happy just get lost cauz there is usually another 10 desperate candidates they can call up.

No point talking about training & development cauz they really dun care about these at this level since turnover is so high. I can't remember KPMG's medical for contract cauz I seldom use it and probably only a thousand dollars worth a year at most.

If u r unemployed, important thing is to get something in the CV. At least give u a chance to convert to perm in the future or use this to look for another job when contract end.
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Old 21-10-2014, 06:56 PM
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Originally Posted by boongaylim View Post
Hi,
I am negotiating a job as a consultant in one of the Big 4. Can someone tell me more about their benefits, so that I can negotiate the salary more effectively? They are offering me 1 year contract, renewable.
Do they pay for some of the job-related training programs that I may attend in Singapore? If so, I can settle for a slightly lower salary.
What about their medical benefits? Is the family covered?
The more I know, better I can negotiate with HR.
Thanks,
unless is legally required certification, no training budget for contract staff one lah. medical insurance and usual outpatient claim got a bit, but also cap at very low.

end of the day you have to be realistic, the whole idea of contract job is to save on all the benefits and make it easy to terminate. the job is "consultant" in name only.


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Old 22-10-2014, 03:17 AM
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Ummm what is the confusion here? When people say 'Big 4 consulting', it generally means accounting big 4. If people want to refer to the top tier, they will say 'MBB'.
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Old 22-10-2014, 06:54 PM
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was on contract in EY before, no training except for those e-learning compliance click intranet type. medical nothing to shout about, just basic insurance and some outpatient claim. in general i find even contracts with stat board / glc offer better benefit than them
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Old 22-10-2014, 07:25 PM
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Originally Posted by boongaylim View Post
Hi,
I am negotiating a job as a consultant in one of the Big 4. Can someone tell me more about their benefits, so that I can negotiate the salary more effectively? They are offering me 1 year contract, renewable.
Do they pay for some of the job-related training programs that I may attend in Singapore? If so, I can settle for a slightly lower salary.
What about their medical benefits? Is the family covered?
The more I know, better I can negotiate with HR.
Thanks,
Base on your previous post you are jobless for quite some time already, tbh you should just accept the offer and rebuild your career. Besides HR won't take you seriously in any negotiation when you don't have a job now.
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