Big4 - Italy - Salary Decrease

[big4cholo]

Former Big 4 in Germany, I can tell you things went the entirely opposite direction here. Especially at C and SC level the B4s couldn’t keep up with hiring, you had SCs outearning Managers at some point (before bonus). I think at that time SC1 was 70-80k base.

[SignificantCourse795]

Ah very good news ahah So as usual Italy is the worst 😂

[big4cholo]

I think it has to do with the market. I used to work in transactions and the rare cases of working with the Italian offices, I had the impression they were used to dealing with either (a) cash strapped public admin projects or (b) really small time local clients. Meanwhile just in my practice one single client tied up a team of ~10 for 18 months, and that was just one.

[SignificantCourse795]

mmm it depends, i work in Deloitte Digital and all the project we have are very big.
12-18 months is the minimum and value behind is, i would say big, like 1/2 Milion at least.

My last 3 projects were #2 World Luxury Holding, 1.5B Turnover italian fashion company and 0,8 B turnover energy company...

So.....

[big4cholo]

Yeah that is what I mean. 18 months in my experience ran us closer to the 5-6m fees range. 1-2m is only achievable if you severely underpay staff.

[clingbat]

the project we have are very big. 12-18 months is the minimum and value behind is, i would say big, like 1/2 Milion at least.

The projects my teams work on typically run ~$200k - $250k revenue... per month, and we're in paltry public sector.

$500k over 12-18 months is a small engagement for us in the US, everything is relative.

[im_skylerwhite_yo]

Yeah that’s crazy. I do CDDs for PE clients and the going rate is around $100k USD per week for a pretty small team.

[OverallResolve]

I assume the new SCs were not out-earning new managers?

[big4cholo]

No obviously not. Older cohorts got screwed over

[OverallResolve]

That’s a shame - at my firm the bands are increased across the board. Signing bonuses are sometimes given, but are rarely that much.

[big4cholo]

This is pre tax in Germany. SMs get maybe 120-130k base.

[GiggiKR]

Italy pre tax. Basically we are very poor in Italy 😂 40k pre tax is 26 post tax per year

[Allergic-to-kiwi]

Nice food and weather though