Bain --> what's next?
I am a Manager at one of the MBB in Australia and was told in no uncertain terms that I wouldn't get promoted to the next level. I have a couple offers the table, and would love people's thoughts:
1) Another MBB (Associate). So stay in consulting but go back one level...
2) Tier-2 consulting firm (Manager-level) - think ATK/OW/Booz, so just a notch below MBB. So keep same level but go downstream.
3) Industry (Director of Strat). For a Fortune 100 company
Thoughts? Comp for all of these is same as my current level (more or less), except another MBB which is less
Depends - do you want to do consultancy much longer? Are you not making the next level purely due to performance or is this largely driven by politics? I think all options that you listed are viable and "look good on paper" - it's really down to what you want to do next. I think the temporary demotion with option 1 will just be temporary. Tier 2 could be really attractive if you join a good, fast-growing area, and you should do some diligence -- could well be a fast-track partner option.
There aren't going to be many people on this forum who can give advice to a manager. But I do agree with the above poster that it depends on what your career goals are. I personally wouldn't want to do option 1...
Finally, another old(er) guy on the forum :).
It seems like the real choice you have is between #2 and #3. It doesn't seem wise to lateral down, at least in my opinion (others may differ), when you've already reached the manager level at MBB.
So, when looking at #2, the question I would ask is what kind of business could you bring in to one of the firms in the 2nd tier? I would imagine that if you kept on the consulting route, you'd be looking to move up into a partnership (or whatever the equivalent is for a given firm). I would guess that they would be most interested in how you can leverage the contacts you've made insofar into future engagements. Another option to consider, if you do have substantial contacts that you think you could turn into engagements, perhaps a boutique firm who specializes in what you've been doing throughout your career may be best. You'd probably be able to add value very quickly and, depending on you circumstances, that could get you to the partner level quickly.
As for option #3, it's tough to go wrong here, but I suspect this option will be around (in one way, shape, or form) later on if you choose another path. I will say, if you're unsure if you can leverage you contacts into business for a consultancy, this is likely the best way to go.
Hope that helps! I apologize for the myriad qualifiers in there, but I don't want to be presumptuous :).
Thanks everyone One other option is to join a $20+B hedge fund in a non-investment role... Thoughts?
And yes, being asked to leave largely based on politics / current office performance
.
What does the HF job entail? Portfolio company improvement?
Is the HF role also the same total comp?
Of the 3 original options, I would go for #2. Shouldn't be a stretch to continue doing the same work as you are doing now. I'd rule out #1, because pushing your career back 1-2 yrs doesn't make sense to me. I'd rule out #3 due to my personal preferences - I just don't like the corporate environment/politics/lifestyle.
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