Strategy Consulting
Hi,
Can someone please tell me what exit options does a strategy consultant with good amount of experience have? Do you guys think that with around 5 years of strategy consultancy experience, say at MBB, one can open his own consulting firm? Also, what is a typical hierarchical structure for a management consultancy firm?
Sorry if the questions above are lame.... I'm new to this field and trying to learn as much as possible about strategy consulting.
Thanks!
then start with the sites of mc firms. mckinsey, bcg and bain if you're absolutely new. you can try others like oliver wyman, booz, just google "strategy consulting". use the search feature on this site as well. all your questions have been addressed multiple times before.
Yes you can start your own firm, either doing consulting, or something completely different. I've seen people in their first year stay on with their first client as self-employed advisors (ie contracting) and then hiring more people to build a client base etc. and voila there's your own shop. I think generally you have zero control over these opportunities or other ideas that emerge (this is purely guided by randomness, perhaps a function of the people you know).
On your hierarchy question I would say it depends. You certainly need a few years to learn the trade and as such will be very junior and need a bit of a yes-sir mentality. At a later stage, if you're a superstar in something, you will be able to drive things yourself, pursue ideas and concepts within the firm, and I think that's when consulting actually starts being fun. Before that it's a lot of Powerpoint and Excel monkey action.
Thanks m2/dagro!
Just for my knowledge sake, it seems like that the big chunk of management consulting is taken by MBB, so how does other firms differentiate themselves from MBB? Is it the money they charge for consulting or something else?
Thanks!
different specializations, different prices, different networks, different name... different product, in two words.
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