Facts based on discussion with quite a few people: FAANG swe make 500-700k at top few in 10 years post graduation. (Ignoring stock appreciation as that's not your real pay or market value if you switch) While MBB make 500-700k avg in 2yr work ex+2yrmba+7 years post graduation. Comparing work hours. Mbb work 58-65 hrs with 5-10 hr of travel While faang you may have to work 40-60 hr/week After the 9 yr mark mbb over take faang Mbb making 1-10 M vs FAANG 1-2 M It makes Mbb a better choice in terms of pay. What would you choose and why? #tech #finance
To overtake FAANG at MBB I think you have to make Partner. That’s not possible for everyone.
Not sure who told you or gave you those pay packages for MBB. MBB makes 1 to 10 M??, LOL. I know ppl working as EMs, associates and senior associates with 7 to 8 years of experience and double MBA at Mckinsey and Bain getting around 450k. A lot of these consultants are joining FAANG due to the huge pay difference between MBB and FAANG. I personally know 3 ppl who made the move and are happy at Amazon with a higher pay and a better non traveling life. Also, if you become a partner you might make 1Mto 5M but then that's the same for a Director or a VP at FAANG
You can become junior partner with 6-8 yr post mba and make 500-1M And senior partner around 10-15 post mba and make 1-10 M. If you include a good profit sharing + bonus + base you can make 10 M though it's an outlier. 3-4 M is definitely possible
Agree with BeerRaiser. 6-8 years, junior partner- I don’t think so, I have given interviews for top MBB’s so researched a lot about this. Only partners make a lot of money and you need minimum around 15 years(+-2) to be at that level. And for that time you have work 50-60hrs per week and travel a lot. There no term like WLB there.
Sir this is Blind. Blind don’t like MBB. Blind like FAANG.
MBB has a pretty strong grow or go policy. Most won’t survive the pyramid up and that’s the default. You can however, be a mediocre SWE and still hit jackpot at a tech company. I know of folks who were fired from Google cloud and went to snowflake (and made bank)
How do you know they were fired? They might have left google. Firing is eating in google
Even google has an up or stay culture. You won't be promoted unless you deliver something next level
I think ignoring stock appreciation because it's not your real pay is kind of weird. If you're optimizing your career based solely on compensation, then you should be optimizing your company selections (when you work in tech) based on their stock performance too. You could job hop every 1-2 years until you eventually get lucky and a company's stock jumps soon after you get your 4 year grant, and then just rest and vest it out. Doing this + quitting early if a stock falls should help you earn more in the long run.
True but isn't job hopping bad especially every 1-2 yr? After doing it 2-3 times, I probably won't hire you or even if I hire you I won't give impactful work. Your career trajectory would stagnate and you might lose more than you gain over a period of time
Also what reason would you give for : why do you want to leave your current job
Are we only talking about pay here? Or are we also considering the quality of work and the quality of life? MBB might marginally win out on comp assuming you survive the game of thrones to make partner but it’s absolute trash compared to SWE when it comes to the nature of the work and quality of life - if you aren’t a salesperson at heart. My 2 cents.
FAANG. Unless you have absolutely no hard technical skills, then MBB.
These are two very different career paths. You may be able to succeed in either of them, but you are probably going to be happier and do better if you choose the path that’s best aligned to your strengths and interests. Purely from financial perspective, I think expected value of FAANG>MBB. Your chances of making partner are probably same as making director in tech. But there’s no up or out, except for very junior levels.
E3-E4 is up or out
... Which is pretty junior
You have to apply probabilities here OP. MBB is up or out, as in most people will be encouraged to leave in 2-3 years if they don’t perform at a higher level and have the right skill set for the promoted roles. SWE on the other hand, you can remain in a non-managing role for indefinitely. I would argue that if you select 100 people doing MBB vs 100 people doing SWE and look at average TC in the next ten years, SWE will far exceed MBB. Now, if you see yourself having higher aptitude in MBB environment (aka have strong sales skill for future promo and have analytical skill to enter), then it may makes sense to choose MBB over SWE.
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Obviously expecting poll to be biased towards FAANG as it's blind. Would appreciate if you could leave a comment explaining your choice
There also an added advantage- you live like a human at Faang, instead of chasing hourly deadlines and living like a bot. I’ve seen MBB life and don’t recommend it at all.
^this! How much do you value having a life apart from making money? And how much do you like being someone's b***h all the time?