Thursday, September 13, 2007


There's this widely shared sentiment among members of the consulting crowd that our pay hasn't kept up with what competing jobs offer. That's mostly investment banking, hedge funds, and so on. Up until three weeks ago everyone was going on a bit about that. Not that we're not earning good money: but it isn't as outrageous a paycheck as what one might make at a hedge fund, and those people don't travel nearly as much as we do.

The complaints have subsided somewhat now that hedge funds have become a lot less attractive employers all of a sudden. But there's still this nagging sentiment that the firms we work for command such outrageous rates, there's little overhead (considering that expenses get charged to the client separately), and so we ought to get a bigger cut. Not saying I necessarily agree. Not saying I necessarily disagree either. Opinions out there?


Anonymous said...

Without doubt rewards in consultancy generally have actually fallen in current values from what they were. There is not even an issue about them having kept pace.

My boss states that he cannot even charge a client the day rate that he was paying to me 5 years ago! Is he lying?

Covert said...

Sounds a bit overstated, to be honest. There is, after all, a big difference between what the firm charges and what one gets paid. It's not as if a consultant at a top firm didn't still cost the client an arm and a leg. Whenever I think of how much the firm charges for my services, I have this nagging doubt as to whether what I do can POSSIBLY be worth as much. But then, yeah, consultants certainly have gotten cheaper. The mystique is wearing off I suppose.