Corp Strategy to MBB consulting (Consultant)
I'm working for an established Canadian company in the corporate strategy role (~6 years, started out as manager and promoted to director), and I am considering making the switch over to consulting for a few reasons:
(1) accelerated pay growth - the incremental increase in pay would not be that significant (current salary is roughly 185k plus bonus) when I start as a consultant, but I know it will scale much faster every year. And I think I would be able to demand a premium
(2) Network & brand value - when considering exit ops or the doors that MBB name on my resume opens, I don't think there is any comparison.
(3) Working with smart people - even though I enjoy the standard 40-50 hr weeks, the work can get very frustrating and demotivating when I'm trying to get a lot of work done but many cross-functionals I rely on can't be bothered to work past 5pm. The work can be slow and often there's lots of yield loss happening due to office politics and senior management misalignment (sometimes we can help but most times not up to us).
Where I struggle the most with picking consulting (vs. other strategy positions where I can increase my pay and switch industries to get more experience) is I think the incremental value has diminished now versus if I were to have gone 2-3 years ago before the promotion. My boss is an ex-MBB partner who preaches a lot of the same approach. I understand the work, pace and intensity is different, but if I end game is to make VP / SVP at corporate and enjoy a balanced lifestyle, I'm not sure I need to do consulting. That being said, it would effectively help me accelerate my path there. I'm also in my early 30s and starting to think about having a family, and I don't think I would want to be doing consulting hours if I have a kid. So I would most likely do it for the next couple of years and then try to find a job opportunity that gives me enough pay to live in Toronto and enjoy life.
I do think if I chose to do consulting, I have good experience to leverage from being in a corporate strategy role that may help me get promoted faster. I also think there is definitely some room for improvement in terms of having better business intuition and strategic instinct, which comes from experience and exposure (consulting would get me this).
The point is - I know that consulting will most likely set me up the best for success in the long-run, but not sure if the hours are worth pushing through at this stage in life. I want to be successful and am ambitious but don't want to resent going into consulting (or vice versa) after a few years. Any tips or words of wisdom would be appreciated. Thanks everyone
Based on the most helpful WSO content, your situation is a classic dilemma for professionals in corporate strategy considering a pivot to consulting. Here are some key insights to help you weigh your options:
Accelerated Pay Growth: While consulting does offer faster pay progression, the initial jump may not be significant compared to your current compensation. However, the long-term financial trajectory in consulting, especially at MBB, can outpace corporate roles. If financial growth is a priority, consulting could be a strong move.
Network & Brand Value: The MBB brand undeniably opens doors, especially for future VP/SVP roles. If your endgame is to leverage the MBB name for senior corporate roles, this could be a compelling reason to make the switch. However, consider whether your current role under an ex-MBB partner already provides you with a similar strategic framework and credibility.
Exposure to Smart People & Strategic Thinking: Consulting will immerse you in a high-intensity environment with top-tier talent, which can sharpen your business intuition and strategic instincts. However, the trade-off is the demanding hours, which may conflict with your personal goals, especially as you consider starting a family.
Timing & Career Stage: Transitioning to consulting in your early 30s is not uncommon, but the incremental value diminishes compared to making the switch earlier. If your goal is to accelerate your path to VP/SVP, consulting could provide a boost, but it’s worth questioning whether the same outcome could be achieved by staying in corporate strategy and strategically switching industries or roles.
Work-Life Balance: Consulting hours are intense, and if family life is a priority in the near future, this could be a significant drawback. Many professionals in your position opt for consulting as a short-term play (2-3 years) to gain the brand and experience, then transition back to corporate roles with a stronger profile.
Tips for Decision-Making:
Ultimately, the decision hinges on your priorities—whether it’s financial growth, brand value, or work-life balance. If consulting aligns with your long-term goals and you’re prepared for the short-term sacrifices, it could be worth the leap. However, if family and balance are higher priorities, staying in corporate strategy and exploring other strategic moves might be the better path.
Sources: Q&A - Leaving Deloitte Strategy Consulting After 2 Years, Transitioning from tech to a serious finance job (yes, you read that right), Q&A - Leaving Deloitte Strategy Consulting After 2 Years, The logic behind going into a Corp Dev/Strat for work-life balance?, From trader to consultant
Hmm I can see why you're hesitating. I'd say that if the below is true, then consulting would be a good way to go:
If these are all true, then go for it. However, if there's some doubt on one of them, I'd maybe consider staying put. You want to start a family in the next 2-3 years? That'll be tough. You want to stay in the same industry? You're better off building up your network and expertise there. You think the workload sounds excessive? You'll burn out in a year and might struggle to find good exits.
Just my take on the topic. Also, I'd be mindful about the kind of firms you'd want to exit to and then back into industry. MBB opens most doors, some T2s open a lot of doors, but then boutiques become trickier unless you're in a specialist industry or want to switch to a specialist industry.
Getting frustrated when people “can’t be bothered to work past 5” but then considering WLB and protected hours for raising a family. Can’t have your cake and eat it too
"can't be bothered to work past 5" comments was more to illustrate the work ethic and pace. It is true though, and at least personally, there's a big difference between working until 10pm-12am everyday (MBB) vs. putting in 10-12 hour days when needed (which I do not mind at all)
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