OW/LEK/Kearney Vs. Analysis Group/CRA/Brattle Group
I have offers from one of each, and wanted to see which is a better choice. I have worked in both management and econ consulting, and really enjoy both.
You are asking if it is better to be in IBD vs S&T. Or if it is better to be a doctor vs a lawyer.
Angus is right, these are very different jobs. I just spent time discussing just these differences with a friend coming from econ consulting and looking to pivot to strategy consulting out of MBA
Without more information from you about the things you value, the type of work you enjoy, the way you prefer to work, the kind of projects you find more fun, or what you want to get out ot it, it's hard to tell you whether blue or green is a better colour (to continue the analogies above)
Fundamentally, one is much more data-heavy and analytical, with a greater emphasis on getting it right, while the other is much more high level / abstract with a focus on "What should we do, why, and how?" Very different problem to quantify financial damages due to collusion in a given marketplace vs. determining whether a B2B SaaS client should attempt to enter an adjacent market segment to grow ~3x in the next 5-7 years
Thanks for the advice, appreciate the help!
Did both. As previous poster said, very different jobs. Econ consulting at a large firm is much more hierarchical - you typically have expert witness, internal director, several associates. And if you don’t have a phd … not gonna be making a ton of decisions. But if you loved your economics and data science courses in college, it might be a great fit.
Strategy consulting lets you actually work in the real world instead of the past world and the “but for” hypothetical world. If helping client execs make real-time decisions matters to you at all, this should be a no brainer. As an early-career professional, you’ll be on flatter teams, able to own more work, and see the effects of (some of) your recommendations.
Two other considerations for you. First is that the training you’ll get in each company focuses on different skills. Assuming you’re already coming in with Stata/Python knowledge for Econ consulting, the biggest training you’ll get is to how to make your code bombproof and 100% right. In strategy consulting, training will feel lighter, but over time you’ll grow to master a toolkit of structured thinking. Second consideration is at most MBB/T2 consulting firms, you can network your way to data-heavy projects where you use your coding and analysis skills at a level of a junior econ consultant. Much harder to find a strategy project in econ consulting.
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