Deloitte - like many consulting firms - use a "churn and burn" business model. Deloitte is successful because most employees do not stay for more than 3 years and are replaced with new hires who are cheaper and are willing to drink the Kool Aid.
Deloitte is especially predatory with experienced hires. Their pitch, essentially, is: 1. You'll be hired to perform at your level of experience (false, Deloitte promotes from within and preference is given to those that have been there the longest/have the best connections); 2. You'll be promoted quickly (false, you'll constantly be disappointed by the structural bureaucracy that is designed to keep people as long as is tenable in the lowest paid position - their starting salary).
The single most important negotiation you'll have at Deloitte is when you receive an offer letter with their lowball salary. If you're disappointed with your base salary or whatever you negotiate, you're essentially guaranteed to be disappointed during your entire tenure. Those who are promoted are only given the minimum within the pay-band for their level and aren't eligible for a bonus at the time of promotion. (There are other very real systems in place that keep your promoted salary below - trust me, unless you're 23 and never had a real job, you'll be infuriated by your new salary at promotion).
Ask yourself how Deloitte can be profitable with massive overhead (their answer to low salary levels is that "we invest in you" with happy hours and trainings) and an ever evolving offerings in the marketplace (ie dubious client ROIs that are grossly overpriced)? The answer is that their business model (like most consulting firms and law firms) is to keep talent costs low and the PPMDs (Principals, Partners, and Managing Directors) skim their contracts, while providing little-to-no value add.
I would recommend Deloitte or any of the Big 4 to recent college graduates as you'll learn a lot and can then leave for a better salary and more responsibilities. Experienced hires are the real suckers at a place like Deloitte and I would strongly discourage taking a position, unless you negotiate a competitive salary.
