Strategy vs Management Consulting
I have a slight feeling that these questions might be stupid or obvious but I've struggled to find an answer. Regardless, feel free to throw shit lol.
I have a few questions about the differences between the two as someone who will be going to University soon. Although I know strategy consulting is a subset of management consulting, from what I gather strategy consulting is far harder to break into e.g. getting into strategy& vs just pwc, or monitor Deloitte vs just deloitte, so I want to prepare for the worst.
1) what's the difference in exit opportunities. At a management consulting firm is PE, VC or F500 still possible, or will I be stuck in management consulting for ever? Currently I'm thinking about going into corporate strategy afterwards but I don't want to rule anything out
2) what is the difference in salary in the long term. I'd want to earn at least 70'000 pounds a year at some point in my life, hopefully higher. Could I still get there without much more difficulty from management consulting? I know this is contingent upon the path you go down but I'm asking in general terms as I haven't decided on what to do in the long term.
3) as a management consultant will I still travel? This was a part of the job that would greatly appeal to me but isn't a deal breaker by any means.
I'm still relatively new to the industry so I may have made a few errors here and there. Anyways, thanks for any help!
1) not much difference in terms of exit ops. Getting into PE will depend on your projects, your firm, and your ugrad. You can easily transition into Corp strat from either 2) salary is very similar, strategy may get slightly higher bonuses 3) travel is the same
Exit opps can be similar but it depends on what you do. You could end up at an MBB doing a lot of strategy work or solely implementation/operations projects. The former can pretty much place you anywhere but the latter will help more with corporate roles (if you do implementation you will essentially help corporates implement your strategy so the move to doing that in-house is very doable). The exit from strategy consulting to PE is easier if you get staffed on CDD projects more than anything else.
Salary can be very similar. Let's take Roland Berger (management consulting by definition) and LEK (strategy consulting by defintion) in London. Based on Glassdoor, both pay entry level positions about £45K and Senior Consultants make £70-80K (with Roland being at the upper end of the scale). Overall the pay may be slightly higher at MC firms but the difference (IMO) is not huge.
Generally, management consultants travel more (Mon-Thur or Mon-Wed) because they are often wanted at the client site. In strategy consulting you mainly travel for a project KO, interim and delivery. There can be exceptions to this rule; companies like Marakon Associates called themselves strategy consultants but often travel Mon-Wed depending on projects.
Natus molestiae quia rerum aut ut aliquid. Aliquid ea soluta quod iure et facere voluptatem. Excepturi laborum dicta aspernatur odio est iure non est. Consequatur expedita dolorum similique quia.
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...