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College and Internships

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

~

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

Sunday, November 22, 2009
2:56 PM

Rosemont

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