Companies paying more Tc than fang

Cisco cluster
Jul 26, 2018 284 Comments

Do management consulting companies like McKinsey, bcg, pwc pay more than fang? Do they need MBA degree? Are there any other companies paying more than fang.

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TOP 284 Comments
  • Amazon Mr.Crabs
    It goes hedge fund > investment banking > tech > consulting > accounting
    Jul 26, 2018 24
    • Amazon / Product
      GoAlexa

      Amazon Product

      PRE
      AMD, EY
      GoAlexamore
      I came from management consulting to Amazon. The misconception about becoming a partner in 8 years is very deceiving. That’s the picture they paint to get you work like dogs for 10 years and miss everything social and family. And if you finally make it there, then you have to meet sales quota every year to survive a pay of $1Mil or so. I joined as L6 PM after 1.5 years in Consulting. My pay was 70% more than my EY Pay and 60% more than the McKinsey offer. And all the offers were in strategy team of each concurring firm so essentially the best pay you can get. At that point I had 7 years of industry experience and an MBA. I had talked to the Sr. Managers in EY, they make less than what an experienced L6 PM makes at Amazon. I have many such cases I can quote. The carrot 🥕 of being a partner is deceiving. In terms of career growth, if you spend that many years in FANG, you can easily be a senior executive in any mid size firm.
      Jul 28, 2018
    • Airbnb skeenie
      Yep. Former MC here and the odds of becoming a partner are 1% if not less. To become a partner, you need to make a business case that you specialize in a lucrative area where you can sell work that can bring consistent revenue year after year to justify your crazy ass salary. We call it a value proposition. That specialization shouldn’t overlap with what another current partner is doing and if so be prepared for some major politics and cock blocking your path up the chain for fear you might take sales/client revenue from another more senior partner.

      It’s super political and tough. Most consultants leave by choice. Tech has consistently high salaries for more people. Consulting is bottom heavy.
      Jul 28, 2018
    • Lazard fin/tech
      @Jabberwook.. I was talking about progression comparison. Progression is much, much faster in banking/consulting than in top tech

      one of the ED/Ds I'm close to is ~31, he made $780k last year. Case in point.
      Jul 28, 2018
    • Amazon Shimmer
      My best friend’s dad is a partner at McKinsey and based in the stuff he told me, what you guys said above is generally true. One thing I should add is that for those rockstar young partners, a lot of them already come from wealth and power, which allows them to make it rain at such a young age. It’s no surprise that his uncle is a CEO of a F500 biotech firm and his dad is focuses on pharmaceuticals.
      Jul 28, 2018
    • Amazon / Ops
      Seattle198

      Amazon Ops

      PRE
      Goldman Sachs
      Seattle198more
      At McK u can ride from business analyst to engagement manager by completing just 3 engagements if you are good at working with clients. After making it to engagement manager if u dont want to work like a horse and eat shitty airport meals, you can get a job at any big investment bank or hi-tech firm and enter at sr. Manager level. Conclusion, it is worth the learning and experience for 2-3 yrs post graduation
      Aug 2, 2018
  • McKinsey
    MCkinsey / Bain / BCG is only good pay ($2m+) once you make partner / Sr partner, until then you will be worked to death and miss all your children’s births and what little family you have left
    Jul 26, 2018 15
    • Amazon :-|
      Ex McKinsey here. Sr. partners make a ton, but your 13 yrs of life is gone behind the fight to become a Sr which is not easy. It is not an easy life (atleast I felt) being away from family, but learning is good.
      Jul 27, 2018
    • Airbnb skeenie
      Former consultant and yep, a consulting career is accelerated and we call it “dog years” because of the scope, scale, and speed of growth. It’s a brutal lifestyle. The upside is you have excellent exit opportunities and you’ll see 27-29 year olds hitting Director of Product and leapfrogging others in their age bracket rank and salary wise because they groom us for executive leadership and presence the moment we arrive.

      If you suck, they “coach you out” (read: fire you) but help place you in a client so if you’re successful and one day become an executive you’ll throw business back their way aka hire them. There is a HUGE consulting alumni network for all the firms that helps with post career placement
      Jul 27, 2018
    • BCG / Other
      sisyphus

      BCG Other

      PRE
      BCG
      sisyphusmore
      Lots of truth in this thread. There are many men younger than 30 at BCG with significant amounts of gray hair.
      Jul 27, 2018
    • Microsoft / Eng Stringer🔔
      ^so it was you who took sisyphus!!
      Jul 28, 2018
    • US Bank FJPl27
      Yep former consultant here from the “big 4” vouching for consulting as a career/comp accelerator. It does this...at an astronomical cost to your personal life.
      Aug 6, 2018
  • 🍿
    Jul 26, 2018 4
    • Amazon / Eng HiringSDE
      I don’t get it
      Jul 28, 2018
    • Facebook / Eng kerby
      Netflix is part of FANG silly
      Jul 28, 2018
    • Revinate JPQ
      That's pretty subtle
      Jul 28, 2018
    • Daimler ksndmka
      I heard Daimler pays more
      Jul 28, 2018
  • Cisco cluster
    OP
    Is there any motivation why people do MBA? Do they get executive roles in fang with top MBA?
    Jul 26, 2018 22
    • Amazon 123raj
      Chennai what are u trying to say?
      Jul 28, 2018
    • Lazard fin/tech
      Yeah, um, guys there are strategy consultants from a lot of UG schools outside the top 10 - especially regional offices (so not NY/SF/LA). Even in those major offices you have a bunch of kids from non extremely-top-tier schools make it.

      @Amazon.. They're exaggerating, but only a bit. Not every project is that intense. Some are only 8-9am til 8-10pm Mon, Tues and Weds, then a shorter day Thurs then a standard 8-9 hour day on Fri at the home office and no weekend work apart from prep.

      EDIT: by the way, I fuckin love blind. where else can you have conversations with people at the best firms in some of the most prestigious industries? it's incredible.
      Jul 28, 2018
    • Indeed discuss
      Lazard and BCG: thanks for your comments, gives a lot of insight into what MGMT consultants do.
      Jul 28, 2018
    • Cisco cluster
      OP
      Looks like even if we get MBA from top school like UCB, and have 10 years of tech experience it is difficult (nearly impossible) to get 1M Tc from management consulting companies. What would be an average start pay considering MBA from top school +10 years of software development experience
      Jul 28, 2018
    • BCG / Other
      sisyphus

      BCG Other

      PRE
      BCG
      sisyphusmore
      @Cisco, poetsandquants.com has a more comprehensive answer than I’d be able to give here
      Jul 28, 2018
  • Microsoft gtgto
    I know people in investment banking that don't makes as much as tech. Tech salaries are currently on top.
    Jul 26, 2018 11
    • Revinate JPQ
      The problem with IB is that too many people see it as the "IB Analyst" thing. Investment banks have plenty of other roles. For example Quants, who neither use PowerPoint nor sleep under their desks.
      Jul 27, 2018
    • Uber Addedk
      Unless your are in a profit generating role like a trader you ain’t making shit.
      Jul 28, 2018
    • Bloomberg / Other Vpbbg
      From a guy in finance, there's no way ever in hell an intern made a mil and everyone 10m+ in IB
      Best paid in finance go to the few incredible hedge funds if your comp is indexed on a perf bonus.
      Unless your mate is that a one in a billion who invented the most profitable strat ever
      Jul 28, 2018
    • Revinate JPQ
      Which is impossible, unless he was a Quant.
      Jul 28, 2018
    • Bloomberg / Other Vpbbg
      Buy side quant >>>IB quant
      Jul 28, 2018
  • Microsoft gtgto
    Yeah if you are in tech in a low cost of living location and you save your money. You wil, beat out most people in hedgefunds and investment banking.
    Jul 26, 2018 10
    • Microsoft / Eng OverBots
      Haha. On 200k is only about 144k after taxes. 50k of that is going to rent now you're down to 96k. You have all that traffic, you will never own a house and you will find it impossible find a girlfriend. More money does != more money. Nerdwallet.com cost of living calculator.
      Jul 27, 2018
    • Google AcGj2
      It's probably news to you but you can move to and retire in a LCOL area, you know? Great job owning a house and paying down a 30 year $250k mortgage, I'd rather save up those $250k in 3-4 years but you do you.

      You've clearly never lived in the Bay Area, you can find a place close to work for <$30k / year.
      Jul 27, 2018
    • Zillow Group / Eng KHPS40
      Or live in a LCOL area and work for a coast tech company. Mega savings. It's rare, sure, but there's opportunities out there.
      Jul 27, 2018
    • Bloomberg / Eng iVX372
      COL calculators are misleading because they assume you're an all-American choad living the all-American choad lifestyle in each location. Who in SF or NYC even wants a multistory 3000 sq ft house with a garage, lawn, backyard and 2 new cars?

      Investing 50% of your annual post-tax income on $200k will still amount to a larger annual investment than saving 70% on $100k. Plus you're living in an awesome city instead of Shithole, USA

      Sub $1500 rent with roommates and your own room is easily doable with a <15 min commute to SF FiDi, Midtown Manhattan or (easily) downtown Seattle. There are studios in Midtown and the Mission for around $2k

      EDIT: you can save up to 70% of $200k post tax in SF or NYC if single. Even more with a working partner and no kids. $4k living expenses is easy with roommates. I average well under $4k per month with quarterly international vacations and am saving over 60% of my post tax income, living near Midtown Manhattan
      Jul 27, 2018
    • Lazard fin/tech
      Spot on Bloomberg
      Jul 28, 2018
  • BCG / Other
    sisyphus

    BCG Other

    PRE
    BCG
    sisyphusmore
    Just quit my job at BCG. AMA.
    Jul 27, 2018 20
    • Lazard fin/tech
      Just a note.. MBB absolutely would consider you with a masters for a BA/A/AC role. Have a few friends who lucked out of recruiting then did a Masters at a top university to break into the entry level class.

      It's an expensive way to get a second chance at undergrad recruiting though.
      Jul 28, 2018
    • Airbnb GtXdzy
      Do you get to 147k base only after 2 yoe out of undergrad? I thought first year out of undergrad base was around 85k.
      Jul 28, 2018
    • Lazard fin/tech
      @Airbnb, total comp growth is linked to how well your perform. high performers can get 20-25% y-o-y growth. Average is more like ~15%.

      TC for undergrad is ~90s.
      Jul 28, 2018
    • BCG / Other
      sisyphus

      BCG Other

      PRE
      BCG
      sisyphusmore
      @Airbnb my TC in Y1 was just around 100k, got promoted to Consultant in Y2/3 for 200k TC/147k base
      Jul 28, 2018
    • BCG Anon778
      Hey Sisyphus,

      Sounds like you got shafted by BCG/your office/your mentors. My experience at the firm has been a bit different.

      Hours: Same as yours
      Travel: Similar, but with more choice
      Projects: I've worked on mostly Tech projects. Launching a digital org within a F500, Launching a blockchain startup, Launching a payment startup,...., standard BCG crap (PMO, Offshoring, etc.)
      Exits: I've seen a couple exits to PM, 1 exit to SWE, countless exits to strategy at FAANG
      Colleagues: A lot more ADC in generalist roles (Phds, JDs, etc) with technical degrees, and A LOT more technical staff in targeted roles (PM, SWE,Scrum Masters, DBAs, etc. at Gamma/Platinion/DV)

      Overall: Experience was tough, but i'm exciting to FAANG w/ a raise so can't be too angry
      Jan 29
  • Microsoft gtgto
    It looks consulting pays way more that faang
    Jul 27, 2018 12
    • McKinsey mckkkk
      80h work week with 7h of travel
      Jul 27, 2018
    • Netflix / Eng ricewater
      You make as much if not more by being a director in FANG. Both are hard to achieve.
      Jul 27, 2018
    • Snapchat chennai
      Those who are capable of hitting partner at MBB with the 1M TC are comparable to the L7/8 at FG making 1-2M TC
      Jul 28, 2018
    • Lazard fin/tech
      Not sure about that claim chennai.. far fewer spots at L8/L9 than there are partner spots at top consulting firms
      Jul 28, 2018
    • Airbnb skeenie
      as a former MC, I agree that the tech lifestyle is superior to the MC grind. Management consulting is much more unforgiving and the different firms are the same no matter where you go. Tech companies have cultures with more variety and flexibility all around to support a healthy WLB
      Jul 29, 2018
  • Box MamboSJ
    Box pays more than FAANG in my case for equivalent role (aside from maybe Netflix)
    Jul 26, 2018 12
    • Google 🐦🆙 `
      staff at fang does not beat 500k "easily"
      Jul 27, 2018
    • Apple Leom
      A in FANG is for Amazon
      Jul 27, 2018
    • Box / Eng ElCaptain
      @MamboSJ is your TC # the value at hire or the value at current stock price (stock has done very well recently).
      Jul 28, 2018
    • Amazon :-|
      Why did Apple dropout?
      Jul 28, 2018
    • Apple Leom
      It didn’t, it’s based on stock performance. The term was coined by Cramer.
      Jul 28, 2018
  • LinkedIn RIPLBS
    Post MBA McKinsey/BCG/Bain comp trajectory on the consulting track is something like 180, 220, 250, 300, 350, 400, 700 (partner election), and so on
    Jul 26, 2018 20
    • Google / Eng flaxx
      I've got 6yrs of experience as an IC and my comp is a shade that 2nd last level ($420k). What does that level map to?
      Jul 28, 2018
    • Lazard fin/tech
      Disagree with corporate law. Long hours are siloed into banking/finance departments. Folks in other departments of BigLaw firms barely pull over 55-60 hours a week - pretty sweet gig for $205k first year out of law school.
      Jul 28, 2018
    • SAP wmmpd
      flaxx, is that including RSUs?
      Jul 28, 2018
    • Google / Eng flaxx
      Yeah. Just like the comp discussed her includes bonus for the bankers/consultants
      Jul 28, 2018
    • BCG / Mgmt
      ConsPM

      BCG Mgmt

      PRE
      BCG
      ConsPMmore
      These numbers are fairly spot on!
      After 2-3 years as partner election, they go ~1.5M+
      That said, I’m walking away from that money! The hours/travel not worth it..
      Will be joining Tech (PM role at FANG)...
      Jul 28, 2018
  • Uber #ifndef
    Uber pays very well
    Jul 26, 2018 7
    • Microsoft gtgto
      Haha. It is also super sexist.
      Jul 26, 2018
    • Google / Eng var
      What is your TC and yoe?
      Jul 27, 2018
    • Uber oROc10
      Every person that cant make it into Uber tries to comfort themselves by blaming culture. You havnt seen the world enough if you think Ubers culture is any diff than the rest interms of sexism.
      Jul 27, 2018
    • Apple / Eng aCrP17
      lol, who you trying to convince?
      Jul 28, 2018
    • Uber / Eng
      sight

      Uber Eng

      PRE
      Facebook, Cisco
      sightmore
      I’ve worked at FANG companies and have friends at each of them. Uber is no more sexist than any of the others. All large companies have pockets of bad behavior and others that are shining examples of good behavior. Uber is no different.
      Jul 28, 2018
  • Intel / Other
    bamboozled

    Intel Other

    PRE
    Google
    bamboozledmore
    Narcos LLC
    Jul 27, 2018 0
  • Microsoft / Eng OverBots
    Haha it is so funny that people on blind are talking about how much someone else is paying them. Like fish in a tank fighting over who gets feed more.
    Jul 27, 2018 1
    • Microsoft / Eng OverBots
      In the end you are just ones pet helping execute their vision
      Jul 27, 2018
  • Google / Eng flaxx
    Given how some of the tech companies' stock has been growing over the last 5yrs (NFLX 10x, NVIDIA 18x, FB 4x) and the relatively sane hours, I'd say tech pays more than consulting. It's still way below what top performers at quant/hf firms get though.

    Source: TC 420k with 6yrs of experience. Never worked more than 45hrs a week in my life.
    Jul 28, 2018 3
    • Uber / Eng
      sight

      Uber Eng

      PRE
      Facebook, Cisco
      sightmore
      What do top performers make a quant/hf firms make? And what does quant/hf stand for?
      Jul 28, 2018
    • Google / Eng flaxx
      HF is Hedge Fund. Quant is an abridgment for quantitative analysts (Physics/Math PhDs modeling different investment strategies like using statistical arbitrage).

      The very best at my age are comfortably pulling in 7 figures.
      Jul 28, 2018
    • Uber / Eng
      sight

      Uber Eng

      PRE
      Facebook, Cisco
      sightmore
      Thanks
      Jul 28, 2018
  • Yelp eir
    TGS pays insane. Probably the most difficult company to get into as an individual contributor.
    Jul 27, 2018 11
    • New iuoT24
      I’m assuming you’re referring to the quant finance firm then?
      Jul 27, 2018
    • Airbnb Dobre
      TGS Finance then or what?
      Jul 27, 2018
    • Bswift / Product Ar290
      Enlighten us
      Jul 28, 2018
    • Revinate JPQ
      Yes. Please un-abbreviate TGS.
      Jul 28, 2018
    • Oracle / Eng ughk
      The Girly Show
      Jul 28, 2018
  • Airbnb Dobre
    Airbnb pays more, I’ve heard a few other pre-IPO companies pay more too. Median L5 here is somewhere around 370-450k and increasing yearly due to refreshers (150-300k yearly)

    But - anything above 200-215k is paper money. Which could be good or bad depending on your expectations for what will happen at IPO time.
    Jul 27, 2018 0
  • VMware / Mgmt
    smurfed

    VMware Mgmt

    PRE
    Google
    smurfedmore
    I've worked for Lehman, Google, VMW, and startups. Pay is a formula that works out to profit / perceived value contribution - opportunity cost. Doesn't matter where you work. Choose a dominant winner if you want to be paid, help create one if you want to have fun.
    Jul 27, 2018 2
    • Microsoft compiler
      Can you explain this formula more? I would have guessed profit * perceived contribution percent. Why are you dividing and why opportunity cost is in it?
      Jul 27, 2018
    • VMware / Mgmt
      smurfed

      VMware Mgmt

      PRE
      Google
      smurfedmore
      Traditionaly, companies must earn a profit to stay er, profitable. This profit is divided amongst employees and shareholders. Employees are roughly paid in line with the relative percentage influence they have on the success of the firm. This is a fraction of profit, not a multiple. Opportunity cost is the cost of switching jobs. Your employer factors this into your pay increases to increase their profit.
      Jul 27, 2018
  • Citadel Letitsnow!
    Two sigma paid 300K for a friend of mine with 2 yoe at Facebook
    Aug 3, 2018 8
    • Airbnb GtXdzy
      Cool thanks! Is your friend eng? Or quant analysr?
      Aug 3, 2018
    • Citadel Letitsnow!
      Engineering
      Aug 3, 2018
    • Indeed shusqvmkig
      How's comp in Citadel ?
      Aug 6, 2018
    • Citadel Letitsnow!
      Experienced dev can expect 300K TC
      Aug 6, 2018
    • Indeed shusqvmkig
      How about engg manager or IC with 15 yrs of experience. FANG pays 500+. I heard Citadel should be better. Is that true?
      Aug 6, 2018
  • Facebook / Product 🙈🙉🙊☕️
    I came from MBB. Paid me okay (straight out of college it’s sub 100k - not SWE level), groomed my presence etc well, I was counseled out due to not being committed to core industries enough in a tough business year. I was mad at the time and would now make the same decision in the partners’ place.

    I don’t regret it. MBB network/experience were my B-school. Should pay dividends later. In the meantime, this gig at FB pays well enough that I wouldn’t want 2x the work for 2x the money as Partner anyway.
    Jul 27, 2018 2
    • New iuoT24
      Interesting. Is it possible to go back to doing technical work after a couple years at MBB? Like SWE or quant?
      Jul 27, 2018
    • Lazard fin/tech
      I'm gonna say.. yes it is but it's unlikely. The only way to stay technical is to build stuff, contribute to open source and stay up to date on technical developments. But.. when working 60-70 hour weeks + travel, you really only have the weekend to do that.

      For most people, they'd rather relax on the weekend than dive into making $randomApp2.0$ or contributing to React or reading up on new JS frameworks. I mean some people clearly can commit themselves to staying relevant in a field (John Legend for example), but it's highly unlikely.
      Jul 28, 2018
  • Google MxwG30
    cruise
    Jul 27, 2018 9