Management Consulting - Fake Job?
As a new student at a Target School (Ross), it seems that everyone around me would do anything for a top consulting offer, but also, there is a smaller group of people that expressed sentiments about "consulting being a fake job" and "you don't actually do anything." Is this mostly just people trying to go against the status quo, or is there some truth to their statements?
If so, do most management consultants find their job rewarding or feel like they are contributing to society? If not, is the appeal of going into consulting mostly about the salary and the exit opportunities and less about the job itself?
Thank you so much for answering, I apologize if I sound uninformed or ignorant; I just want to learn more about the industry.
Unhelpfully, the answer is that it depends on your point of view, really, and frankly both sides have some decent arguments. I answered something tangentially related a few weeks back here: LINK (this was about "Why spend $M on consultants?").
My response above already outlines why/where I think consultants add value. For the counterargument, you could say a lot of things that I think are up for debate / based on belief (e.g. hiring consultants to do X prevents the client organisation from learning how to do X themselves). Instead, I'd bring up the 2 main issues (in my view) with consulting to be aware of before you embark on it:
These two points are the main reason I see people become disillusioned with Management Consulting the most, and some big drivers behind some people's decision to leave for industry. So they can "own" something properly, see projects through, and feel like they actually have an impact (ideally in an industry they like).
I don't have an issue with either point, as I genuinely believe in the process and the use in what we're doing. Afterward, what the client does is up to them. Of course, as a conscientious consultant, I try my best to ensure the client adopts / follows my recommendations (I say "me", but really it's a firm thing, at the Partner level, which definitely not me). However, the client is free to ignore everything we tell them, after all it is their money / project.
Hope this helps somewhat. I do know a lot of people who are quite a lot more cynical than me on the topic, which is fine, like I said, they do usually have decently valid points.
Management consulting is a legitimate and well-established industry that provides advisory and problem-solving services to businesses and organizations. However, like any industry, there can be instances of fraudulent job postings or scams. It's crucial to exercise caution and conduct due diligence when considering management consulting job opportunities. Here are some tips to avoid potential fake job offers:
Research the Company: Investigate the consulting firm thoroughly. Look for a legitimate website, client references, and a physical office location.
Beware of Unrealistic Promises: If a job posting offers excessive compensation or promises quick success without relevant experience, it may be a red flag.
Check for Contact Information: Ensure that the company provides legitimate contact information, including a professional email address and phone number.
Avoid Requests for Personal Information: Be cautious if a potential employer asks for sensitive personal or financial information in the early stages of the hiring process.
Trust Your Instincts: If something feels too good to be true or makes you uncomfortable, trust your instincts and proceed with caution.
Use Trusted Job Search Platforms: Look for job postings on reputable job search websites, as they often have measures in place to verify employers.
If you suspect a job posting is fake, report it to the job search platform and consider seeking advice from career advisors or professionals in the field. Legitimate management consulting opportunities exist, but it's essential to be vigilant to avoid potential scams.
Chat GPT bot with a huge miss here
Ikr
There is value to the advice that consultants give. This is because almost everything we do on this planet involves working with other people to achieve something, and that creates opportunities for mistakes and inefficiencies. Every organisation on Earth can make the wrong decision, the right decision at the wrong time, be inefficient about it, not have the information to make a proper decision, etc. etc. The problems are endless because they deal with how large groups of people work together. So there is value in getting a somewhat objective 3rd party to give you advice and figure out what to do.
I say somewhat because ultimately there are incentives for consulting firms to be doing what the clients want them to do, meaning that at times, that advice is not fully objective. This is because companies will sometimes hire consulting firms to rubber-stamp a decision or direction they have already made, so they have a credible outside source to back their decision, or if the decision turns out to be wrong, someone to blame.
Consulting in my view is most valuable when clients have a clear objective and reason for using consultants. When you handover your entire strategic planning process to a consulting firm or just get them to "figure out what to do" about broader topics, it usually doesn't bode well. It means the senior management team isn't as involved in setting the strategic direction as it needs to be, or it doesn't have the right people at the exec or Board level to make such decisions.
Interesting perspectives. Full disclosure, I've never been a consultant but both my brothers were / are (1 MBB and 1 set up his own boutique). The MBB went on to be a thought leader in industry in an area he got to specialize in while at MBB after being exposed to many industries. The 1 who set up a boutique did it in an industry where he had become a known expert. Very different scenarios.
My take on the traditional consulting route out of UG or MBA is more about the individual than the "real work" or value you bring to the client. It's about what the analyst learns on the path to associate / consultant / engagement mgr. Sort of a business bootcamp. From that viewpoint I think it's very valuable to the individual regardless of the value to the client. Perhaps not on day 1 (real problem today is poor expectations of what you'll be doing - son has several friends who went to consulting out of UG and are disillusioned with all the grunt work. Not sure what they thought they'd be doing as a 22 yr old with no experience) but along the way you learn how to research, present professionally, manage processes, manage people, sell ideas externally and internally, work on a team. You'll get exposed to different challenges within different industries. You'll build a good network within industry.
Most people use this as a 2-5 yr learning ground that makes them quite valuable to industry, either as an internal consultant working on corp strategy, or as an operator.
Anyone ever find out what consultants actually do?
Delectus reiciendis nemo totam sed. Voluptatem porro magni consequuntur est officiis omnis nam. Quisquam molestiae nemo culpa deleniti. Possimus sint facere quia ut accusantium voluptatem.
Rerum reprehenderit et aut. Dolor non voluptas totam laborum laudantium sit. Consequatur sit iure aut voluptatum vel.
Odio dolor consequatur quae. Incidunt qui nam ducimus possimus rerum. Omnis aut qui id qui nemo aspernatur libero. Sit vel cum odio. Repellat velit ut dicta a.
Modi quasi cupiditate eaque. Voluptas illum delectus voluptas officia mollitia. Commodi beatae repellat voluptatem aperiam alias.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...