Exit opportunities from boutique consulting
Hello,
I have a FT Strategy Consulting offer from a relatively unknown boutique consulting firm that specializes in only one industry. Generally speaking, what types of exit opportunities are available to consultants at relatively unknown boutique consulting firms. Is it possible or common to lateral to a bigger consulting firm (e.g., Big 4 consulting, etc) from a relatively unknown boutique consulting firm?
Thanks so much!
Yes, most go up the ladder within consulting or pivot to industry. Other exits can include IB, but you'll like go to a no-name and work your way up from there.
I think it would depend on what industry the boutique specializes in. If it's highly transferrable to other branches of larger firms (PE DD Bain / Healthcare LEK / RX A&M), then I'd say there's a much better chance for you to get looks from there, especially given the current hiring market.
Thanks for sharing your response. The boutique focuses on the insurance industry. What types of possible exit opportunities do you think would be common or at least possible given this specific industry focus? For additional context, this would be my first job out of undergrad so unfortunately, I don't think I can take advantage of the current hiring market as I wouldn't have enough experience yet to lateral.
Pretty much echoing off of what Associate 1 PE mentioned below, but specifically, I would imagine insurance linked roles, such as Insurance IB (Willis Towers Watson's is one specific that comes to mind) and industry roles in insurance from strategy to ops at Munich Re, MetLife, etc. would be the "logical" path forwards as someone who's not in the field.
As for the lack of experience, if the current hiring market persists, you should be in a good position to lateral for better branding, pay, skills pretty quickly, especially if your firm is well-known within the space, so keep your eyes open and good luck!
You can try to lateral to a generalist position in ~1 year (TBD whether the labor market cools off by then). If that doesn't work, you can lateral to a generalist position in ~2-3 years, or try an expert position with ~3-5 years, or get an MBA and re-recruit. Or exit to industry at any time.
Don't worry about it--you'll always be able to find a good exit if you're good. Just make sure you're actually good (try to work across functions, know the insurance industry inside and out within ~1 year, network with anybody and everybody, build your executive and client presence, etc.)
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