The Interview in Business Consulting That Will Break the Cycle
The company: Tardis Group, a financial services headhunting company with offices in London, Sydney, Dubai, Tokyo and New York
The position: I would be doing research for headhunters. A bulge bracket firm comes to Tardis Group and say we have a position for a Managing director or a COO. We paid him X salary last year plus Y bonus, and he did Z accomplishments. Can you find out next candidate and how much should we pay him?
The compensation:I have never seen or heard about so much money in my life. The numbers that the interviewer were throwing out were just mind boggling. The base salary $40K as a Researcher.(that's equal to or more than a statisician at the Fire Department, a programmer at Samsung, a gym manager). Then there is the commission, 5% of the first year salary of the candidate placed. If your team places a managing director making a salary of one million a year that is $50K. Of course that is rare but the lowest salary of anyone the firm places is still $250K that is $12,500.
The bonus: At the year end all the profits are put together into a pool, the members of the company will take 12.5%, and the rest is split amongest the staff. I can expect anywhere from $6000-20K.
Of course with all well paying jobs comes the terroritory. My interviewer told me he comes in around 8am and leaves about 6pm, goes home and puts his children to sleep and works till midnight. I won't be so lucky. Most recently the company just opened an office in New York and will be relocating to a better office in the early part of next year. They are looking to hire three researchers who if they prove themselves will be consultants in three-four months. The compensation scheme for consultants, base salary $50K, up to 45% of the salary of the candidate placed. Last year they placed a candidate for $13 million dollars. And although it is rare... his coworker last year as a consultant made a base salary of $50K and didn't close any deals working 12-16 hour days. In December he placed a candidate for $500,000 and received 40% of that.
And so I can see it happening. This is going to be the job in business consulting the psychic talked about. While working for this company I will do consulting for a finance company who will ask me to leave my job to work for them. Send me back to school, work, become millionaire and voila I have broken the cycle of the longest unemployment/underemployment stint in Connecticut College's history.
The position: I would be doing research for headhunters. A bulge bracket firm comes to Tardis Group and say we have a position for a Managing director or a COO. We paid him X salary last year plus Y bonus, and he did Z accomplishments. Can you find out next candidate and how much should we pay him?
The compensation:I have never seen or heard about so much money in my life. The numbers that the interviewer were throwing out were just mind boggling. The base salary $40K as a Researcher.(that's equal to or more than a statisician at the Fire Department, a programmer at Samsung, a gym manager). Then there is the commission, 5% of the first year salary of the candidate placed. If your team places a managing director making a salary of one million a year that is $50K. Of course that is rare but the lowest salary of anyone the firm places is still $250K that is $12,500.
The bonus: At the year end all the profits are put together into a pool, the members of the company will take 12.5%, and the rest is split amongest the staff. I can expect anywhere from $6000-20K.
Of course with all well paying jobs comes the terroritory. My interviewer told me he comes in around 8am and leaves about 6pm, goes home and puts his children to sleep and works till midnight. I won't be so lucky. Most recently the company just opened an office in New York and will be relocating to a better office in the early part of next year. They are looking to hire three researchers who if they prove themselves will be consultants in three-four months. The compensation scheme for consultants, base salary $50K, up to 45% of the salary of the candidate placed. Last year they placed a candidate for $13 million dollars. And although it is rare... his coworker last year as a consultant made a base salary of $50K and didn't close any deals working 12-16 hour days. In December he placed a candidate for $500,000 and received 40% of that.
And so I can see it happening. This is going to be the job in business consulting the psychic talked about. While working for this company I will do consulting for a finance company who will ask me to leave my job to work for them. Send me back to school, work, become millionaire and voila I have broken the cycle of the longest unemployment/underemployment stint in Connecticut College's history.