How much TC to expect at Partner level at Deloitte, PWC, EY Management consultants focused on Tech advisory practice ? I guess McKinsey, Bain etc. are scaling their Tech advisory practice and ready to pay top $s, but not sure what the next tier would offer. Also getting in at Partner level at tier 1 firms is almost impossible, while I am seeing the Tier 2s are more open. YOE = 20+ Tech masters from top Univ. and MBA from Top 5 business schools. Current position = Director / L8 at FAANG TC = $1M+ #consulting
What they are most interested in is what business prospects you can bring to them. Which C-Suites do you know, how can you ramp your practice up fast.
Considering stock appreciation at FAANG, moving to consulting seems to be a rather risky move. The range can vary quite a lot based on performance and sales.
Partner level consists of sales/relationship/network nurturing. T2 consulting might work if leveraging MBA network with c-suite/PnL roles are active in hiring your skill set/domain expertise (strategy/implementation work). Keep in mind, each T2 has a T1.5 strategy group (S&, Monitor, Parthenon, etc), so you may be better suited to that vs. T2 partnerships. A S& example could be 3-mo strategy project @ $11M vs PwC 12-mo implementation project @ $10M. Big difference in rate cards and resourcing which affects your Partnership distribution.
Why on earth would you ever consider doing this?
From what I've heard, at the partner level your main role would be to bring in business and clients, and I reckon they've come from the consultant's network amassed on their path to partner. This may just be my unbiased opinion, but I'd want to be sure that I'm able to bring in business before transitioning in, as comp is likely highly influenced by the client engagements you bring in. Source: Cousin is a partner @ MBB
But why?
The grass is not greener
Pp
Partnership is highly lucrative. When you 'retire' as a partner, your income is equal to the average of the best of x (usually three) years. I know retired partners who make millions in payouts every year, until they pass away. No other industry can ever get you this benefit. Especially for us who will never see social security and we know healthcare will inflate to millions
Like social security, do you think the partnership pension will run into issues as well?
No. Because the fund for the partners is huge (runs in billions). For example, maybe an average of 10000 partners have over $5 billion fund. So even if the fund dries out, they will still have enough money to pay a large multiplier of social security (I e. You won't have to worry about money)
I’m not sure anyone can give you what to expect. A ballpark range might be between $1.5-2.5M. There’s a lot that goes into compensation calculations including whether or not you’re a LCSP, how many units you have, what your sales look like for the year, how your OP performs during that year, etc. But I think the range I’ve indicated is probably about right, I’m sure someone from one of those firms will be along eventually to provide firmer numbers