| Topic Name: |
Practice Lead |
| Message Name: |
The truth about practice managers |
| Date Posted: |
03/17/2006 |
| In Reply To: |
Flippin:
Are you still at the Firm?
CEB for Life |
| Message: |
First, CEB for Life is an HR plant--so ignore the falsely rosey picture he/she has been planting on this board for months.
Second, I'm a top 5 MBA who has been with the firm several years, and will try to give you a more accurate picture.
Third, the real picture. I assume when you say "Practice Lead" you mean Practice Manager. Here's the strategic research hierarchy:
- Analyst
- Sr. Analyst
- Consultant (where most top-tier MBAs enter fresh from b-school)
- Project Manager (typically MBA + 2-3 yrs)
- Practice Manager (if external, typically someone within striking range of partner at a top 10 consulting firm, or with very deep subject matter expertise relevant to a particular program)
- Managing Director (if external, typically a partner from a top 5 consulting firm)
- Executive Director (if external, a tenured partner from a top consulting firm)
Comp: the company pays badly--get used to it; it is also VERY stingy with options; no one in the last 3 years has received options below the practice manager level; base salary range for practice manager is banded around 130-150K; bonus max is 30% of base, but typically is about half that.
Practice managers run strategic research teams for any given "core" program, but do not have P&L responsibility--that is reserved for MDs--unless there IS NO MD, which is often the case. The company has an unwritten rule that you must prove (sometimes for several years) that you can do the next role before they will promote you. I know plenty of great PMs who have given the company the "best years of their lives" and been overlooked time and again for promotion, the company is very happy to accept their pro-bono MD-level work. CEB is cheap get used to it--doesn't matter if it's receipts for a .35 toll, plastic glasses and cheap boos at formal events, or concentrating the firm's significant wealth in the hands of about 20 people. Even though you're a post-mba career person, the value proposition is the same for someone fresh out of college, except your base is greater. No options, slow promotions (above the consultant level), no stock, 1% 401K match, and crappy health care.
Helpful?
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