NYTimes' take on Romney and consulting
I might be biased, as I am a consultant hopeful, but anyone else feels disappointed with the article?
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Why in the world should someone care about whether they are helping the world? Also how is helping VS sell underwear not helpful to the larger economic purpose? VS is one of the few homegrown countries that people around the WORLD own products from...not seeing how this makes sense.
i too was confused by the Victoria secret dig. but beyond that it is true that increasingly real work doesn't pay, and the cost of not getting a 'consulting' or high finance job is becoming very high. students have figured this out too. case in point, entry level engineers make as much as nurses(because of the nurse's overtime & weekend pay).
the consultants have convinced companies to cut to the bone with their workers, while they(the consultants) have done the opposite.
Ivy league kids don't bother with non-finance jobs because they can go to glassdoor and check the appalling salaries of "real" workers, even the engineers. IT is the noble exception but outsourcing(via consultants advice) will change that too.
I agree, I also think its a result of the career path at most companies. 30-40 years ago, the only way you could make it to the top of a company was to grind your way up from mail clerk or some other entry level job. Maybe you got shitty pay, but you knew that it was the only way to get the corner office. This is no longer the case, most companies routinely higher senior level people from outside.
As a consultant, it gets even easier. As a fairly young person, if you're staffed with the same client for a while, you can easily get offers for jobs it would have taken you 2x as long to get to from inside the company (if you made it there at all). And if you're a partner you can make the jump to senior leadership. Not to mention you're getting paid a ton more before you make the jump.
2 times longer? psssh yah right... try 10 times longer a 6 month engagement and impress the socks off a senior employee and get an offer when it would have taken you 5 years to get there had you not been in consulting and come in on some low entry level job
Not a fan of the article's view of Romney, it totally ignored his PE background. Anyway, who cares about other people's perception of your career. Personally, I knew Consulting wasn't a good fit for me. However, if it interests you, and there is a market to support your services - fuck everyone else.
I found this odd too. Romney founded Bain Cap, a far most notable career milestone than even making partner at a MBB.
I was bothered by the idea that recommending layoffs is a bad thing- is is better for the company to tank? I imagine if a consultant recommended that GM slash benefits and use non-union labor, the NYT would criticize that as well. Companies do not exist for the benefit of the workers or society; they exist for the benefit of the owners.
I will say I wonder how much longer companies will be willing to pay for consulting firm fees. I hate to say it, but the advice offered by MBB is not exactly novel. I am not criticizing the intelligence of their employees, but most business problems have been encountered and solved 100x before. It usually comes down to whether the organization has the will and shareholder support to do what is needed.
That is the future I see for MBB: political shields. If the CEO wanted to undertake a project that would create a interest rate risk, he would have MBB say not to worry about interest rate risk. Just a way of covering himself from the board and shareholders if things go south.
^ seconded what WCR said. My understanding is that a lot of consulting projects are initiated by senior stakeholders who simply want to cover their asses should shit hit the fan, or claim credit for should shit pan out.
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