Consulting vs Other Business Careers

I am currently thinking about career paths, mainly banking vs consulting. As someone currently weighing the possibility of venturing into consulting, I'm curious to learn more about what motivated you to pursue this career.

I'd love to hear from current and former consultants:

What was the defining moment or key factor that pushed you towards a career in consulting?
How did the industry compare to your expectations coming in?

Thanks in advance.

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browniannoise

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3mo

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Picturing:

In the twilight glow of a rooftop cocktail party, you, a 24-year-old figure of undeniable allure, stand tall in a meticulously tailored all-black suit that accentuates both your dark handsomeness and your well-maintained physique. The pulsating rhythm of the city beneath you echoes the heartbeat of the night.

As you leisurely sip champagne, your eyes, slightly squinting with purpose, are drawn to the sprawling beauty of the New York City skyline. In this moment, a captivating stranger gracefully approaches, intrigued by the enigma that you embody, and poses the age-old question, "So, what do you do?"

A subtle smile graces your lips as you turn your attention from the glittering skyline to meet the inquisitive gaze. In the hushed symphony of whispers and laughter, you declare with a measured confidence, "I'm a senior consultant at Mckinsey, navigating the intricate corridors of management and orchestrating symphonies of success."

Unbeknownst to you, the stranger, enchanted by the fusion of charm and financial prowess, experiences a subtle swoon, momentarily captivated by the magnetic pull of your presence. Your focus, however, remains steadfast, as you continue cultivating a flame of purpose and desire within your heart, the intensity reflecting in the depths of your eyes.

‘It shall never be enough,’ you think.

As the night unfolds, a silent dance between admiration and aspiration ensues, each heartbeat echoing the romantic symphony that plays out against the backdrop of the city's twinkling lights.

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FinnesseGod

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3mo

Let me guess... your word of the day was symphony.

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Works at Bain & Company

Anonymous

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3mo

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Happy to chime in with my anecdotal 2cts

What was the defining moment or key factor that pushed you towards a career in consulting?
- For me, it was about finding a career that (i) was somewhat intellectually stimulating, (ii) let me build up a wide range of skills in business strategy, (iii) allowed me to work in several industires in a project-based environment, and (iv) opened as many doors as possible for my future career. There are a few other reasons, but those were top of mind
- Other considerations included seeking a career where I could have more impact than doing pure academic research (like I was before) and where I would hopefully enjoy spending my time (meaning cultural fit was a big factor, especially if I considered staying long term)
  - Obviously, consulting firms are more alike than they are different, but at the margin those differences can matter (especially on a 65h week)
How did the industry compare to your expectations coming in?
- I think all in all, I wasn't that surprised by the industry itself. Most of what you read online (for better or for worse) tends to be pretty accurate, it's also no secret what the job is like (only client names / projects are confidential :))
- However, I have seen others be a bit disillusioned because they expected to have more of an impact than they did. That's especially true for more analyst-type jobs where you're a bit far removed from the top. In general, we're also in the business of giving people advice, so we can't really be mad if they listen to half of it or don't do what we recommend (although it can be frustrating if you're sure that something is the right answer for them)
  - Small caveat on that last point that obviously we never are 100% confident in our recommendations (how could we possibly be?), but we usually are highly confident in them because we, as a firm (so really the Partners and EMs/SMs/PLs), have been doing that for a long time and have done the work to make sure what we advise is justifiable / best for the client

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Authored by: Certified Consulting Professional - Associate ConsultantCertified Consulting Pro

FinnesseGod

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3mo

I have a follow-up for you on this one. I had been interested in Consulting for a few years in the past, but as recent events would have it, the economy was not too forgiving to the industry. What are your thoughts on candidates entering consulting a few years into their careers as opposed to out of bachelors? One caveat I've always kept in the back of my mind is that time isn't fungible and the later in life you go, the more obligations you'll have to your family and the more time you'll want to spend with your friends. The other, the tenure for consultants is about 3-4 years where folks stay until associate and exit into client firms they enjoy working with.

I'm in a pivotal point in my career looking to assess what to focus on with a few unexpected career paths (within the tech space primarily) as opposed to my initial ideation of PE/financial consulting at Bain ironically.

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Stakeholder Theory

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Anonymous

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3mo

Hey there,

We do bump into each other quite a bit on this forum! I'll address your question in two parts: (i) from a professional standpoint and (ii) from a personal standpoint.

Professionally speaking, it's perfectly fine to enter consulting later, with more experience.
- I joined as an experienced hire, in my 30s, so hardly a fresh grad anymore. The only caveat I'd have is that in North America, it seems that MBAs are the only way for joining MBB (or JDs / PhDs / MDs / etc.) without being a young grad (unsure whether that also applies to other consulting firms, as I am based in the UK). I don't know if the firms hire working professionals at Consultant-level in NA (we definitely do that in EMEA)
- You can always look on LinkedIn for consulting firms in your region, filter by known titles ("Consultant" for BCG, "Associate" for McK, etc.) and then check from that sample how many have an MBA. Whatever the difference is will be an indicator of non-MBA experienced hires (assuming there's not too much overlap in job titles)
Personally speaking, it is important to prioritise, as this job is fairly time consuming, but this shouldn't be a major hinderance.
- I should caveat that I dont have a partner or kids, so Im basically free as a bird, and I have moved a lot in my life, so making new friends is never difficult and I rarely have old friends around. Considering that most people do strategy consulting for 3-4 years and then leave for something else, the long-term impact on your life is relatively minimal (what are the odds these 3-4 years are the only time in your life you can see your friends and have/start a family?)
- To aid you, I'd probably start by listing the 4-6 things that are a priority for you in the next 3-5 years, so you have a clear list, and prioritise that list (it should make things easier). I did something similar before, except I started with the 20-year view (for my career) and worked backwards.
- In terms of hours, this is a 55-60h job on avg, which I think is reasonable for what we're doing, but that's also the amount of time Id like to work anyways. So, it's also important for you to judge how much stress / long hours impact you.

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Authored by: Certified Consulting Professional - Associate ConsultantCertified Consulting Pro

FinnesseGod

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3mo

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Consulting vs Other Business Careers

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