Advice for a new consultant

Based on the most helpful WSO content, here are some insights and advice for a new consultant starting at an MBB firm, particularly with a focus on the Financial Services (FS) industry:

1. Specializing from the Beginning

• Interest and Experience: Given your strong interest and extensive background in FS, specializing early could be beneficial. Your past experiences in Big Four advisory, banking, and internships in private equity and asset management align well with this industry.
• Fast Progression: Specializing can indeed lead to faster progression as you build deep expertise and provide valuable insights. Your observation about the prevalence of FS projects and partners in your firm supports this.
• Personality Fit: Your preference for the straightforward and focused nature of FS professionals suggests a good cultural fit, which is crucial for long-term job satisfaction.

2. Consulting for FS Clients

• Work-Life Balance: Consulting in FS can be demanding, but this varies by firm and project. Generally, FS clients can be high-pressure, but the structured nature of the industry might offer more predictable schedules compared to more volatile sectors.
• Client and Team Dynamics: FS clients are typically professional and focused on results. Your positive experience with FS, healthcare, and oil & gas sectors indicates that you might find the working environment more to your liking compared to tech or luxury sectors.
• Experience: Many consultants find FS rewarding due to the complexity and impact of the projects. However, it's essential to be prepared for the intensity and high expectations that come with the territory.

3. Additional Advice

• Flexibility: While specializing can be advantageous, maintaining some flexibility early in your career can open up unexpected opportunities and broaden your skill set.
• Networking: Build a strong network within your firm and the FS industry. This can provide support, mentorship, and opportunities for career advancement.
• Continuous Learning: Stay updated with industry trends and developments. FS is a dynamic field, and continuous learning will keep you relevant and valuable to your clients.

In summary, specializing in FS from the beginning seems to align well with your interests, experience, and personality. However, consider balancing specialization with some flexibility to maximize your career growth and opportunities.

Sources: Post MBA IB: deciding which group?, Q&A: Former Strategy& associate, https://www.wallstreetoasis.com/forum/consulting/should-consultants-get-an-mba-8-scenarios-to-consider?customgpt=1, Consulting vs Industry, Post MBA-Associate Roles: As bad as People Say?