Advice on consulting - Anyone familiar with the implications and uses?
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lol
Do you find it fun to:
I find it to be pretty intelectually stimulating, which means it is also intelectually stressing. People in consulting are more fun than in finance overall and I've seen both sides of the coin. As a partner, you work less hours but have more pressure, travel more and you can tell people to do your mundane tasks.
I get stimulated by consultants all the time
I enjoy all of these responses, for various reasons ^^^^.
WoowWOwowowwww, so consulting IS fun. Who knew? I'm in the wrong career!
Haha, I'm interning in MBB this summer and loving every minute of it. I find the work incredibly stimulating, but more importantly, the culture of the firm I'm at is incredibly supportive and everyone is both friendly and brilliant. We have intern social events every week and everybody in my class is really enjoying it, plus the work everyone is doing is vastly different. We all use powerpoint and excel, but the PMI I'm working on is different from the org-restructure, cultural transformation, sourcing, supply chain efficiency, or high-tech strategy cases some of the other interns are working on.
It's absolutely true that consultants get paid 40-50% less than bankers, but only work 20-30% less. That said, those marginal hours (especially being able to sleep 7 hours a night and not having to work on weekends) are worth every dollar, and so is not having to be mired in toxic banking culture and the variety of work we're exposed to. Our benefits are also unbelievable, and all those expensive meals we eat (and all the other expenses) are tax-free. Honestly, I can't believe I'm going to be paid $125k+bonus+benefits next year for doing this.
By the way, what company has it's HQ in Bumblefuck, Idaho? I can only think of one person in my office that's on a case in a rural area. About half of us are local, and everyone else is in a major city - you know, where the companies we work on are.
Well, I am not in the US but I am at a MBB firm (even if my profile does not say it - I am in a job transition process) and even though I am not in the US, I have been sent to an engagement in a city equivalent of Bumblefuck. My firm's office is in the major city of my country.
I agree with everything that you said, except for the last part. I was just trying to expose the good and the bad in the job, so you can balance what is "fun" and what is not.l.
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I agree with most of what has been said. The excitement of a young buck like redninja that most of us started out with wanes a bit after a couple years of the same thing. Can't compare to finance, but there is a big lull in the middle of a consulting career (b/t 2/3 to 5/6 years) where you are just relatively cheap labor waiting around to move up. This can be tough, but pushing through it is worth it if you like what you're doing. If you're into consulting, get the MBA early...don't be charmed into waiting around.
I wonder if you could expand on this. Are you suggesting that even if you're a top-performing analyst/associate who is given the opportunity to be promoted to the post-MBA consultant role without leaving for an MBA first, you'd be better off getting the MBA "now" anyway? If so, why? Thanks for your insight.
I would recommend 3-4 years out go and get an MBA. Yes, you can be promoted to Associate w/o MBA if you're doing well. But it becomes a problem later on when most of your colleagues you are competing with for that partnership spot have a top-tier MBA AND are also doing really well. It's more a long-term investment rather than immediate returns. Though the problem is an MBA Associate doesn't make all that much more than non-MBA Associate from what I've seen. So, the immediate rewards is not the factor, but future returns.
I've help my firm setup UG-internship experiences. It's mostly company presentations, "more interesting" projects, happy hours, team activities, and usually local projects. Not so much when starting work full-time. It CAN, but depends on the project. Lots of time, I travel and rarely see home office and miss a lot of the happy hours. Consulting firms do try and provide more avenues to socialize and "network", but that is difficult if you're at a client site all the time. That said, I do like consulting a lot. It's interesting work (sometimes), mundane other times. But it beats my previous internships at F100 companies I worked at. I'm pretty good at what I do and like it. Good benefits, decent enough hours, smart and fun colleagues (most of the time), and decent enough pay to live very comfortable.
As a current summer internship IB analyst, I envy what you guys are describing.
Relax man, you can buy happiness later with your bonus (not sarcastic).
You are a tool and a fool. Satisfaction with one's day-to-day work is actually very important.
That bonus feels good for like 36 hours: http://en.wikipedia.org/wiki/Hedonic_treadmill
Definitely consulting>>>>>>>>>investment banking.
It seems to be an inviolable law of physics in consulting that they don't hire assholes.
I'm not sure my ex-girlfriends would agree with this statement.
Are you saying they are assholes or they've seen assholes at consulting firms?
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