By % split, what are the most common exits from strategy consulting?
By rough % split, what are the most common exits (including lateral shifts to other consulting firms).
Also interested to see how this compares with other types of consulting - management, operational, tech.
Based on the most helpful WSO content, here's a breakdown of the most common exits from strategy consulting, including lateral shifts to other consulting firms, by rough percentage split:
Comparing this with other types of consulting, such as management, operational, or tech consulting, the exit opportunities can vary based on the specific consulting experience and the firm's network of alumni. For example, in management consulting, exits can include roles in corporate strategy or development, leading to positions like CFO or COO, or even CEO tracks at more junior levels. Operational and tech consulting may lead to more specialized roles within the industry, such as product management, or to further education and roles in FAANG companies, depending on the individual's efforts and the prestige of their consulting firm.
It's important to note that the type of projects and the firm's alumni network play a significant role in shaping these exit opportunities. Timing and personal career goals are also crucial factors to consider when planning an exit from consulting.
Sources: 4 Real-Life Consulting Exit Opps of My Former Colleagues, Ex-McKinsey Consultant Here Answering Questions, Why Consulting - Answering the Interview Question, Q&A - Consulting interview prep - firm specific questions, Big4 Sentiment for Management Consulting
From post UG analyst years definitely b-school/further studies then who knows, after that PE, lastly random corporate jobs. This is for London MBB.
https://www.wallstreetoasis.com/comment/3276242#comment-3276242
See this comment for the typical exits. The most common/straightforward exit is corporate strategy in a big firm or a startup, but there's a lot of variety. It's really hard to pinpoint a breakdown of people as it depends on so many factors (economy, location, etc...). Right now with tech and finance not hiring as much, a lot of people are taking corporate strategy roles in 'less sexy' industries. But in 2021 people were going to tech/PE more frequently. A good portion do the MBA, but not as much as you think (There is a growing movement of people that thinks the MBA isn't as necessary as it once was).
I did recently check the alumni board of my MBB, of the post undergrad business analysts who started in summer 2022, there has been one to med school, 1 to a tech startup, 1 started her own company, and 2 to corporate strategy analyst roles at non-prestigious companies. Of the post undergrad business analysts who started in summer 2021, I saw 1 to big tech, 2 to a tech startup, 2 PE, 1 public sector, 1 to corporate strategy, 1 started his own company, 1 to boutique consulting firm with a specific niche, and many more...
The cool thing is seeing the variety of things people do afterwards. Even in this market where exits are tougher, I do see people leaving for pretty cool stuff. Most MBBs have a job board where positions are posted with recruiter emails. Even in early 2023 I landed final round interviews at F500 tech companies with ~1 year post MBA MBB experience. If I had stayed the 2-years, even more doors would have opened up for me, though I'm happy with where I landed.
Haven't seen many FAANG exits, but that makes sense considering the market conditions.
The hardest part about exiting MBB is that sometimes people who aren't ex-consultants don't see the value in your skillset. A lot of positions in finance/marketing/operations will want specific experience in that field, whereas consulting gives you a 'general toolkit.' I had a final round with a tech startup for their revenue management team, and it went super well, but they were like "You seem really damn smart, we really liked you, and you'd make a great employee... but we want someone with more specific experience doing xxx." Hence why corporate strategy is so common, especially among career consultants who've literally done nothing but consulting for 5+ years...
When you're young you do have the flexibility though.
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