Comments (41)

Aug 5, 2007

in my experience, salaries are pretty shitty for entry level positions. bonuses are given, but nothing compared to ib. it obviously depends on where you are and who you're working for but i'd say you'd be pulling anywhere from 45k-70k all in.

Aug 5, 2007

well is there still a chance to make 150k working for these firms with experience and MBA, or do you HAVE to go to the prestigious firms like McKinsey? Oh, and is travel less at these firms?

Aug 5, 2007

manoftroy, at what level are you asking for 150K? Post-MBA? How many years of experience?

Aug 5, 2007

just so you know, you won't be making 150K anywhere in consulting post-undergrad.

Aug 5, 2007

...I said after experience and MBA...

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Aug 6, 2007

Bump

Aug 6, 2007

your boss is spot on. obviously there are a lot of perks when u work at a brand name firm, but really it's not the be-all end-all. if you're smart, work hard, and are passionate about what you're doing, you'll make a name for yourself and be successful.

Aug 6, 2007

I think it will be tough for you to move up, though easier than IB. Your best chance is to find something to specialize in. If you are one of THE experts on a specific subject, strategy, etc., then you have a good selling point to larger firms that are looking to improve in or incorporate your given specialty.

Aug 6, 2007

Where are you working at now?

I've consulted for a couple boutiques w/

I've had good experiences w/ both. In one case, the firm specialized purely in strategy/marketing projects, so the work actually a lot more interesting than what I was used to (on a consistent basis).

In your specific case, I'd be hesitant about the health of his pipeline. It seems it's essentially a startup, so there's no real track record... and the sales cycle for these pursuits could be 6+ months. Most boutiques are run by very seasoned owners and hire 1099 contractors to mitigate risk of pipeline not coming thru.

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Aug 6, 2007

Start-ups are normally a good sign of leadership and initiative so I would be a fan to give an interview. Your experience would also help a lot in terms of answering technical questions during interviews.

Aug 6, 2007

.

Aug 6, 2007

"Will my hands on consulting experience be looked upon favorably at a consulting firm?"

    • 1
Aug 6, 2007
mfors:

"Will my hands on consulting experience be looked upon favorably at a consulting firm?"

lol i guess, but at the same time i don't want to appear like im not coachable during the screening process (prior to getting into the interview and selling myself)

Get it!

Aug 6, 2007

I think quite favourably - it means you can do business development, must have some social skills and knowledge. The trick isn't uncoachable - the trick is did you actually do "consulting" or were you more a subject matter expert / contractor. These are different skillsets. Basically it comes down to how you approached the engagements: asking questions, or knowing the answer and building the solution.

The trick in consulting isn't necessarily knowing answers before you go in, but knowing what questions to ask so you can build the best solution for them. I have noticed it a lot in the independents who don't come from a big firm - they are far more subject matter experts / go in with the answers type and they don't necessarily go in questioning with a strong assessment of the situation (not all - just many that I've seen).

So be ready, they like to see an assess, build a plan, execute plan, review type approach to most things. It shows you do your homework without making assumptions.

Aug 6, 2007

Will they worry that you're not moldable? No, that's not an issue. What would be an issue is whether or not they believe that you actually did anything, since your "consulting experience" is missing the value that comes from learning from a professional consultant. So you'd have to convince them that you created a really legitimate experience.

Aug 6, 2007
mitc:

I was made an offer by a small company willing to provide 50 percent of my market pay plus 25 percent profit from the business I sell and execute

There are no other benefits. The profit share is after all expenses during execution of any engagement

I am not a sales guy but plan on learning. I have other fulltime offers right now, but don't know if I will have them later.

I am debating if I shd take the consulting offer or go for a regular company. My long term goal is to work in a senior operations role in the same industry as consulting.

Any career advice?
Kris

Aug 6, 2007

A few questions (many more than the below--I'm sure--needs to be considered):
-How are other folks in your position and above incentivized? Are folks incentivized to maximize personal sales credit (it sounds like it) or is there any "we win" items going on?
-Is anyone going to help you learn how to sell/sell work? Beware of the company saying "yes" in the offer process, but then arriving in an environment where team selling = less money for people.
-Will you have a team to help you deliver the work that is sold?
-How much work do you need to sell just to break even to market pay?
-How much do projects typically sell for? What resources are required to deliver on them? How long do they take to execute?
-What's your network of clients/potential clients look like?
-How is the brand recognition of the company? Selling for a company with no brand or market recognition is challenging.
-What do your other options look like?

This sounds like a risky proposition because you don't know how to autonomously sell, and it sounds like you need to deliver the work you sell to be paid. If you don't have a team large enough to deliver the work you sell, you can be in a nasty sell-do loop wherein you spend a lot of time delivering (and not selling).

Aug 6, 2007

Great post chron3k thank you

Company does not have a great brand and I am bright in to lead a practice. This includes hiring people as needed.

I need to sell 1m to make my market pay, but this depends on how much I spend on employees and other expenses.

It is not a group sell. I need to hire if I need sales team or member. Initially they agreed to give me one resource and later more if we get work

I have network but need to build more.
I am given 500 k to develop a specialized software and sell that if I find customers ahead of time!!! There is potential for this, as long as someone will agree to buy a software or give a farm fuzzy feel before the company will invest

I am sr director type gal in the industry FYI

Sorry for multiple posts iPhone is acting strange

Thanks much

Aug 6, 2007

Make sure that he is extremely clear on what he envisions his career path to look like. The downside to boutiques is you get pigeonholed into that specialty, at least until you get an MBA. The only exception is at a top-tier like Parthenon/LEK. If your friend joins a boutique which specializes in something he isn't interested in, he will be extremely unhappy. Also these small boutiques lack a lot of the benefits that your friend probably associates with management consulting.

Aug 6, 2007

I believe Mercer Management Consulting has a sizeable Dallas office.

Aug 6, 2007

Good point Boozer. I didn't really think about it that way. I would imagine without a MBB name on your resume it might be tough on paper to convince someone you can adapt your skillset to other areas of consulting.

Mercer, that names rings a bell. I'll let him know. Thanks SMU. by the way, did they have those ridiculous b-school tailgates when you were there? My sister is an undergrad at Cox and every home game the business school has a sponsor like Joe's Crab Shack where it is all you can eat crab cakes and shrimp and free drinks for b-school students. That my kind of tailgate...

Aug 6, 2007

Actually I didn't go to SMU. My name is supposed to be smug, not SMU. However, given that I grew up relatively close to Dallas and know the area pretty well, I probably should have gone with a less confusing name.

Aug 6, 2007

So I'm bumping Excelster's original thread.

Excelster, I do know that Accenture and Deloitte both have strategy teams based in Dallas. They're a tier or so below M/B/B but no slouch, if you ask me.

Aug 6, 2007

I seriously do not know if there is enough quality strategy work to go around for Deloitte and Accenture to have a top flight strategy team.

I have a cousin in Deloitte and a friend in Accenture and they both agree...

Aug 6, 2007

Aug 6, 2007

BAH Strat hardly counts as "small", it's bigger than Bain and comparable to BCG in revenue/headcount.

Aug 6, 2007

Thanks for that information boozer. I guess I'm biased because I'm an undergrad, and BAH strategy is small in terms of undergrad recruiting.

Aug 6, 2007

I'd be really interested in hearing about this as well, since I'm considering taking a job at LEK Boston.

Aug 6, 2007

I don't have much knowledge about Katzenbach but I can tell you for the rest.

Monitor- depends on who you talk to. A lot of people dismiss Monitor as intellectuals (more than Mckinsey/BCG) and others swear by them. Exit opps are reasonably good (Monitor Clipper Partners, industry, assorted alt. investment)

LEK/Parthenon- very well respected; at or slightly below MBB in terms of prestige, exit opps aren't as good.

BAH Strat- very strong across the board. Overshadowed by govt side, hurts recruiting but in client work, plays in same space as MBB. Exit opps however aren't as good.

Mercer- a step below the others. There was a great post about Mercer a while ago, check the archives.

In general, the work you will do at these firms is the same stuff that you would do at MBB but a little less recognized, with MUCH more networking necessary for PE/HF/VC.

Aug 6, 2007

Thanks!

Aug 6, 2007

Forgot to add, the infrastructure at LEK/Parthenon probably isn't as developed. So the researchers/slide makers you have at MBB, BAH and (possibly) Monitor probably won't exist to the same degree at LEK/Parthenon. Also much more of a culture fit, you can't just ignore people you don't like/get along with so be conscious of that.

Aug 6, 2007
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Aug 6, 2007