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in my experience, salaries are pretty shitty for entry level positions. bonuses are given, but nothing compared to ib. it obviously depends on where you are and who you're working for but i'd say you'd be pulling anywhere from 45k-70k all in.
well is there still a chance to make 150k working for these firms with experience and MBA, or do you HAVE to go to the prestigious firms like McKinsey? Oh, and is travel less at these firms?
manoftroy, at what level are you asking for 150K? Post-MBA? How many years of experience?
just so you know, you won't be making 150K anywhere in consulting post-undergrad.
...I said after experience and MBA...
Small Consulting Firm (Originally Posted: 02/09/2015)
I'm a sophomore and I've been reaching out to all sorts of financial firms since December hoping to land an internship. A couple weeks ago I emailed a management consulting firm in a nearby city and the guy never replied. So I followed up about two weeks later and he apologized saying he was sorry he didn't reply because he was traveling a lot and what not. He also said he wanted to talk with me and asked that I send him my resume so we can schedule a call. I sent him my resume and it's been almost 2 weeks since then and I have not heard from him yet, although YesWare shows that he has opened the email a couple times since then.
What should I do? I'm getting really nervous about not getting an internship this summer and classes are getting more difficult so I've got less time to look for internships.
Bump
Starting with a "low name" consulting firm (Originally Posted: 08/26/2013)
Hey guys!,
Recruiting season starts up pretty soon (a couple of days/weeks for some) and I was wondering, what are you guys thoughts on starting with a "low name" consulting firm? I know that a lot of people (and some of my colleagues from my summer internship this summer) emphasized getting the biggest name you can get -- but as you obliviously know recruiting season competition is and can be brutal and "big name" firms are never a guarantee.
So my question: what are your thoughts on starting with a firm that doesn't have a big name but isn't necessarily a boutique firm (i.e. a firm like Protiviti)? One of my close friends said that there's nothing wrong "starting from the bottom and working your way up" and my former boss from my internship this summer said to me that the first job I get out of college, regardless if I love it or not, will most likely not be the firm I will work my entire life.
your boss is spot on. obviously there are a lot of perks when u work at a brand name firm, but really it's not the be-all end-all. if you're smart, work hard, and are passionate about what you're doing, you'll make a name for yourself and be successful.
I think it will be tough for you to move up, though easier than IB. Your best chance is to find something to specialize in. If you are one of THE experts on a specific subject, strategy, etc., then you have a good selling point to larger firms that are looking to improve in or incorporate your given specialty.
Small consulting fim (Originally Posted: 05/02/2013)
Has anyone ever worked for a small consulting firm (Less than 20 people)? After graduation I networked with as many people as I could, but nothing panned out. Got great advice, resume help, and pointed in the right direction in terms of how to work towards breaking in.
One person I networked with was a family friend at a 2nd tier firm. He really pulled for me to get an analyst spot at his firm, but said they had hired too many people out of school and they needed to put them on projects before hiring an analyst externally. Now, a year and a half later, I hear back. He is still full time at his firm, but he and some others started their own business too. He is getting ready to apply himself full time, and his family member and some other colleagues are already full time. They have clients they've known for years, and say they have contracts they want to go after, and some are already in the pipe line. They are looking to hire an analyst full time and have budgeted the money for the year. I was told that I left an impression on the original guy, and they think I will learn quick and work hard, and they want to bring me on to grow with the company.
I've also networked with other people and have secured an interview with a very large global real estate company, doing consulting work in the space of development. The manager of the person I've been speaking to emailed me to set it up.
There are a lot of experienced guys on this site, so I thought I would ask and see what others opinons would be. What would you do in my shoes? I see it as: small firm=hands on experience; helping secure new business; these guys have a large network themselves, and a more personal one too; these guys are all experienced in MC; they are pretty cool too; this was originally what I wanted when I graduated.
Big firm= Big name; global name; real estate, which i've been working in and have had a growing intrest in; its in a sick location in my city.
Any thoughts? Advice? Factors to consider? Positive and negatives you see? As always, I greatly appreciate the advice from these forums.
Where are you working at now?
I've consulted for a couple boutiques w/
How is the running of a small consulting shop perceived by the top consulting firms? (Originally Posted: 03/02/2012)
Say an undergraduate student in his junior year (who completed a 3 year diploma program and is now back in school after 2 years in industry) is currently running their own consulting shop and was doing various projects here and there for small to medium sized businesses around his city, how would the Top Consulting Firms perceive that sort of experience?
Let’s say a lot of the work was Business Plan reviews, answering RFPs, Strategy creation, Feasibility Studies, Marketing Research, SEO and some small IT Restructuring Projects (which he gets CompSci interns to execute because he is an Economics major). Is he hurting his chances of having that "I can be molded into the XYZ way of thinking" quality? Specifically if he is applying as an Analyst?
Start-ups are normally a good sign of leadership and initiative so I would be a fan to give an interview. Your experience would also help a lot in terms of answering technical questions during interviews.
.
"Will my hands on consulting experience be looked upon favorably at a consulting firm?"
lol i guess, but at the same time i don't want to appear like im not coachable during the screening process (prior to getting into the interview and selling myself)
I think quite favourably - it means you can do business development, must have some social skills and knowledge. The trick isn't uncoachable - the trick is did you actually do "consulting" or were you more a subject matter expert / contractor. These are different skillsets. Basically it comes down to how you approached the engagements: asking questions, or knowing the answer and building the solution.
The trick in consulting isn't necessarily knowing answers before you go in, but knowing what questions to ask so you can build the best solution for them. I have noticed it a lot in the independents who don't come from a big firm - they are far more subject matter experts / go in with the answers type and they don't necessarily go in questioning with a strong assessment of the situation (not all - just many that I've seen).
So be ready, they like to see an assess, build a plan, execute plan, review type approach to most things. It shows you do your homework without making assumptions.
.
Small consulting company offer (Originally Posted: 01/11/2013)
I was made an offer by a small company willing to provide 50 percent of my market pay plus 25 percent profit from the business I sell and execute
There are no other benefits. The profit share is after all expenses during execution of any engagement
I am not a sales guy but plan on learning. I have other offers right now, but don't know if I will have them later.
I am debating if I shd take the consulting offer or go for a regular company. My long term goal is to work in a senior operations role in the same industry as consulting.
Any career advice? Kris
A few questions (many more than the below--I'm sure--needs to be considered): -How are other folks in your position and above incentivized? Are folks incentivized to maximize personal sales credit (it sounds like it) or is there any "we win" items going on? -Is anyone going to help you learn how to sell/sell work? Beware of the company saying "yes" in the offer process, but then arriving in an environment where team selling = less money for people. -Will you have a team to help you deliver the work that is sold? -How much work do you need to sell just to break even to market pay? -How much do projects typically sell for? What resources are required to deliver on them? How long do they take to execute? -What's your network of clients/potential clients look like? -How is the brand recognition of the company? Selling for a company with no brand or market recognition is challenging. -What do your other options look like?
This sounds like a risky proposition because you don't know how to autonomously sell, and it sounds like you need to deliver the work you sell to be paid. If you don't have a team large enough to deliver the work you sell, you can be in a nasty sell-do loop wherein you spend a lot of time delivering (and not selling).
Great post chron3k thank you
Company does not have a great brand and I am bright in to lead a practice. This includes hiring people as needed.
I need to sell 1m to make my market pay, but this depends on how much I spend on employees and other expenses.
It is not a group sell. I need to hire if I need sales team or member. Initially they agreed to give me one resource and later more if we get work
I have network but need to build more. I am given 500 k to develop a specialized software and sell that if I find customers ahead of time!!! There is potential for this, as long as someone will agree to buy a software or give a farm fuzzy feel before the company will invest
I am sr director type gal in the industry FYI
Sorry for multiple posts iPhone is acting strange
Thanks much
Smaller Consulting Shops (Originally Posted: 11/19/2007)
I am trying to help out a buddy of mine land a consulting job, preferably in Dallas, Texas but he is open to pretty much anywhere. I am an IB guy so my knowledge of consulting shops is pretty slim.
My friend is a University of Texas BBA grad, middle of road GPA, and has been working for a logistics company for a few years. I know he doesn't have much of a shot with the big boys like Bain, McK, BCG, etc. but I am hoping he can get in with a smaller shop.
So far he’s looking at: FTI, Veritas Group, Alvarez & Marsal, and Clark Consulting.
I'd appreciate any other names you could give me.
Make sure that he is extremely clear on what he envisions his career path to look like. The downside to boutiques is you get pigeonholed into that specialty, at least until you get an MBA. The only exception is at a top-tier like Parthenon/LEK. If your friend joins a boutique which specializes in something he isn't interested in, he will be extremely unhappy. Also these small boutiques lack a lot of the benefits that your friend probably associates with management consulting.
I believe Mercer Management Consulting has a sizeable Dallas office.
Good point Boozer. I didn't really think about it that way. I would imagine without a MBB name on your resume it might be tough on paper to convince someone you can adapt your skillset to other areas of consulting.
Mercer, that names rings a bell. I'll let him know. Thanks SMU. by the way, did they have those ridiculous b-school tailgates when you were there? My sister is an undergrad at Cox and every home game the business school has a sponsor like Joe's Crab Shack where it is all you can eat crab cakes and shrimp and free drinks for b-school students. That my kind of tailgate...
Actually I didn't go to SMU. My name is supposed to be smug, not SMU. However, given that I grew up relatively close to Dallas and know the area pretty well, I probably should have gone with a less confusing name.
So I'm bumping Excelster's original thread.
Excelster, I do know that Accenture and Deloitte both have strategy teams based in Dallas. They're a tier or so below M/B/B but no slouch, if you ask me.
I seriously do not know if there is enough quality strategy work to go around for Deloitte and Accenture to have a top flight strategy team.
I have a cousin in Deloitte and a friend in Accenture and they both agree...
Small and Good Consulting Firms (Originally Posted: 11/20/2007)
There's a ton of talk about MBB on this forum, and a few comments made here and there about the smaller firms that are highly ranked.
With BAH(Strategy), LEK, Parthenon, Monitor, Katzenbach, Mercer and (others?), are there substantial differences both among these firms and with MBB.
Are selectivity and exit opps really all that different?
BAH Strat hardly counts as "small", it's bigger than Bain and comparable to BCG in revenue/headcount.
Thanks for that information boozer. I guess I'm biased because I'm an undergrad, and BAH strategy is small in terms of undergrad recruiting.
I'd be really interested in hearing about this as well, since I'm considering taking a job at LEK Boston.
I don't have much knowledge about Katzenbach but I can tell you for the rest.
Monitor- depends on who you talk to. A lot of people dismiss Monitor as intellectuals (more than Mckinsey/BCG) and others swear by them. Exit opps are reasonably good (Monitor Clipper Partners, industry, assorted alt. investment)
LEK/Parthenon- very well respected; at or slightly below MBB in terms of prestige, exit opps aren't as good.
BAH Strat- very strong across the board. Overshadowed by govt side, hurts recruiting but in client work, plays in same space as MBB. Exit opps however aren't as good.
Mercer- a step below the others. There was a great post about Mercer a while ago, check the archives.
In general, the work you will do at these firms is the same stuff that you would do at MBB but a little less recognized, with MUCH more networking necessary for PE/HF/VC.
Thanks!
Forgot to add, the infrastructure at LEK/Parthenon probably isn't as developed. So the researchers/slide makers you have at MBB, BAH and (possibly) Monitor probably won't exist to the same degree at LEK/Parthenon. Also much more of a culture fit, you can't just ignore people you don't like/get along with so be conscious of that.
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