Consulting Introduction
I just read a bunch of articles about consulting, and it sounds interesting to me as a potential career. A few questions I hope some of you can help me answer:
- Does the firm pay for your travel fees?
- Does the firm train you after you graduate from college?
- Is there any preference towards majors (more specifically, can an industrial engineering major with many courses in economics still go for consulting?)
- Any particular skills consulting firms want?
- Are there any liability issues from providing non-purposeful, bad advice?
- Does the pay difference between consulting and IB actually matter? Considering NYC housing prices, the difference in pay doesn't seem to be as impressive.
I'm not in consulting, nor have I been in the industry. I do have a general understanding though, so enough to answer some questions very briefly. Anyone is free to contribute to my comments, especially if I say something wrong.
If you're really worried about a consulting firms expense policy: https://thetravelingconsultant.wordpress.com/2010/02/03/consultant-poli…
Thank you for your answers! The blog you linked will also be very helpful.
One additional question: do people often go into consulting right after college or MBA and then go into something else after a few years? Is this recommended?
Really depends on a few factors. Does your company mandate an MBA for progression? If not, I'd say get in as early as possible. The one threat is getting burnt out (because entry-level consulting can blow). At my firm there are plenty of people who are just seniors in their 30s (some have masters degrees, some don't) where if they would've just started their careers in consulting, rather than industry, they'd be much farther along in terms of career progression
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