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Nov 2007:30 AM PST
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Learn what truly sets the UC Riverside MBA apart and how it helps in your professional growth
08 Jun 2011, 12:12
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I'm soon to graduate from one of the top MBA schools and currently undergoing a career research. This question is probably a bit problematic and has no definite answer, but I would be glad to hear your opinions, examples and experience.
For my future career, I would prefer to work in an "industry" or "corporate" world. My definition of this world is everything besides consulting, finance, government. However, the financial benefits are also very important for me and probably this is the only reason I might consider consulting. For my first job, I feel comfortable to get an offer from an industrial company that will not not worse than a consulting offer (in the low 6 digits zone) so the question is about the future potential. In banking I know that you can make it into the high 6 figures zone in 5 years and in consulting it is similar. In 7 years banking will probably put you in 7 figures and consultants will be there in 10(?). The question is about industry. What does it take to hit the 7 figures compensations there? Please let me know what do you think, when considering:
1. Big ind. "monsters" with over 50K employees (GE, Siemens, J&J, P&G....)
2. Small-mid companies of 500-5000 employees (like the different companies in Danaher group)
3. Others....
Thank you all.
For my future career, I would prefer to work in an "industry" or "corporate" world. My definition of this world is everything besides consulting, finance, government. However, the financial benefits are also very important for me and probably this is the only reason I might consider consulting. For my first job, I feel comfortable to get an offer from an industrial company that will not not worse than a consulting offer (in the low 6 digits zone) so the question is about the future potential. In banking I know that you can make it into the high 6 figures zone in 5 years and in consulting it is similar. In 7 years banking will probably put you in 7 figures and consultants will be there in 10(?). The question is about industry. What does it take to hit the 7 figures compensations there? Please let me know what do you think, when considering:
1. Big ind. "monsters" with over 50K employees (GE, Siemens, J&J, P&G....)
2. Small-mid companies of 500-5000 employees (like the different companies in Danaher group)
3. Others....
Thank you all.
08 Jun 2011, 14:49
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knfevg
Are you serious? Consultants in the high 6 figures in 5 years? I think that's a stretch. I've known plenty of consultants and they don't reach that level in that short of a time for the most part.
As for industry, you typically need to make it to the C-suite to get seven figures. That would take anywhere from 10-30 years depending on the company (conservative CPG companies value experience and longevity with the company). I can't speak to smaller companies but really, you don't go into industry typically to be a millionaire. You go to have a career first and foremost, with decent earnings, and the opportunity to have work-life balance.
08 Jun 2011, 14:59
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Thanks for the comment. By 5 years I meant post MBA (meaning some would have 7 in total, including 2 years before MBA). But probably you are right, to hit the high 6-fig you have to be a partner, which is more around 7 years
