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Expert Column: Can You Make $150,000 a Year at Age 26? Once again, we bring you another session of questions and answers with our Consulting Channel moderator, Hannah Im. Hannah's previous articles, which are chock-full of advice on entering and succeeding in the consulting industry, can be found on the Consulting Channel. If you have a specific question for Hannah, please e-mail her at consulting_expert@staff.vault.com.
Dear Hannah,
I would really appreciate it if you could advise with this.
I am working with a smallish Internet consulting firm (Asia) and working at
a senior level. Its *not* a mama-papa shop, we mostly have ex-consultants
from big5 + toptier strategy firms (BCG, ATK, MCK), we have cream clients in
our state. However, I realize that I lead teams, lead projects and my work
spans:
- Strategy
- Research
- A LOT of application design + development (i lead the team as well)
- A lot of database design
- Some recruiting
I get paid more than $150,000 USD; I have a Masters degree from a reputable university
as well; I have a Big Five background (among others); I am fairly sharp (I am
writing an honest message, so please ignore this self-appreciation); I know
Internet technologies VERY WELL and am well-connected, so I sporadically keep
getting clients to the business.
Now, all this is fine, but I am 26. I am wondering: with this, WERE I to
change jobs, would any other company (like Andersen or Sapient) consider my
past experience at this senior level and my skills & connections, and give
me a better offer, or will I be given a reality thump?
In the so called "new economy", is it still your grey hair that matter? (I
remember that the Big Five I worked with had such biases - perhaps because of
its British background).
Sincerely,
Bravin' the Big Five Biases
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Dear Bravin' the Big Five Biases,
Your background, of course, is impressive, especially, as you point out,
because of your age. Any other consulting company would gladly snap you up.
However, they will have a dilemma. $150K is about as much as a senior
manager makes in some of these firms, and it is highly unlikely they will
hire you directly as a senior manager. Very few companies will hire you as
even a manager, unless you could honestly boast ten years of experience or
more. They would be more willing to hire you as a senior consultant on the
fast track to manager. But your salary gives them an honest dilemma. Do not
be surprised if they try to get you to take a lesser salary with the pitch
that your resume will look really good with their company name on it or that
they offer other benefits of working there that cannot be compensated in
money. This is the reality of what to expect in a worse case scenario.
I wish I could say you'd be a great candidate for a company like McKinsey, but
they seem to be a little slow on the e-business uptake (though I could be
wrong about this). You'd have to present a VERY strong case as a strategist,
maximize your ability to sell, and minimize your e-business experience with
a company like that. However, I also think you could only get the kind of
offer that would be attractive to you from the top strategy firms. The Big
Five consulting houses (make sure it's on the consulting side) might also be
more flexible, but don't be surprised if they are not.
I'm not trying to discourage you or invalidate your worth. I'm sure you do
an excellent job and are worth every penny. I'm just trying to say that
these other companies won't be giving you a reality check as much as they'd
be conducting business with you when giving you an offer. You're simply too
expensive a candidate for many of them, and they will do their best to
bargain with you. Hold out for what's important to you, even if it means
giving up what seems like good offers. If these companies can't meet what
you hold as non-negotiables, it's a harbinger for what's more to come.
Hope this helps some.
Hannah
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