Why consulting reddit And I am super happy putting in 20-30 productive hours and calling it a week :-D. I want positions in the US or middle east. You have others that are extremely skilled financially, work M&A or serious management consulting, make $300k+, and can pivot anywhere. Learn which reasons you should give, see our example answer, and learn how you should structure yours. And I'll add because elsewhere you mention STEM guys might be locked out, but genuinely any Many candidates ask what is the best way to tackle what I call motivational questions, such as “Why management consulting?”, “Why McKinsey?” and so on. Clients hardly hire consulting I feel like 99% of the shit talking for consulting companies focuses on Why do you or people even care in the first place? Serious question. The following is a non-exhaustive list of topics that should be submitted to the recruiting or new hire stickies: basic questions about consulting and consulting firms The experience and skill set from consulting have also been helpful for my performance in the role - so the pay and skillset are the biggest benefits of doing consulting first, for me. However, I will attempt to generalize. Here are my thoughts about Consulting at Big 4: Pros: - The learning is great. Premium Powerups Reddit iOS Reddit Android Reddit Premium About Reddit Advertise Blog Thank you very much Cornell consulting investment banking and consulting meta for making me feel that I wasted my Cornell education when I went back to my high school to become a teacher and dorm RA helping a lot of the Chinese international students with the Chinese language skills I learned at Cornell. Why Did you Leave McKinsey? A wide variety of reasons. It taught me I didn’t want to do consulting. Consulting has a faster pace, as well as regularly changing industries, customers and projects. They can look through their database of customers, find the best 3 or 4 solutions that closely align with what you're trying to do, and then match That's why there's often hard criteria for quantitative backgrounds, why McKinsey does the whole PEI process, why other firms give presentation-based cases. I used to be a client of many different consulting firms and now run a ai advisory firm. People like to lump consulting in as this singular, hellish experience, but that’s because of Consulting will absolutely lose the talent wars if the lifestyle goes away. Getting to partner is often just the start and then it's a whole new game of hierarchy, responsibilities, etc. I'm interviewing with A Reddit for SAP discussions pro or con! He told me he was getting into SAP Consulting, a friend of his' dad has his own SAP contracting company (something like that) and he said I I highly doubt that MD at Accenture or any other global consulting firms are much different from MD at MBB in terms of workload and responsibility. Since consulting tends more towards fixed engagements, that would lean towards more steady work. I like my comfy industry job now that consulting gave me the exit to Hi all, Just wondering - I’ve seen a lot of PhDs go into consulting as a non-academic career path, and graduate schools are starting to have a lot of resources like grad consulting clubs. But something no one here is talking about (probably because they're all too young) is the depreciation of the pound (and euro) relative to the US dollar. Even back office, the sheer difference in Consulting demand is + in growth times, flat in clear recession (cost-cutting balances downturn in growth-oriented projects), ++ in periods of clear step change ("we're not in Kansas, any more, Toto" moments) like COVID, but - to -- in periods of economic uncertainty (clients aren't sure what projects are priority, and are hoarding cash). I was also debating post MBA industry, and consulting gave me broader experience (though it seems like that’s less important to you). Behavioral interviews are pretty cut and dry, you'll be asked why consulting. reddit's new API changes kill third I started my career there and absolutely loved it. Consulting is pretty decent, especially at the start of your career. So auditors didn't really pursue this option. And point three, that's why consulting firms hire people with business and finance backgrounds: they tend to have social skills, soft skills that are intuitive and hard to teach. Rule 1. I hate tax because ____. Advertisement Coins. Higher tier consulting firms have different business models. Besides ERP projects are mainly cyclical and to get into a good project requires luck as well. Consulting work generally refers to working for a consulting firm rather than the actual process operator. These companies would provide consulting services to the end user such as Dow or Shell. My opinion is that most of the time our firms (Big4 here) know how to “cook” the words and the idea of knowing everything about everything but even SME’s sometimes know as much about a topic as I do, which comes to show that the value we add may not be that much anymore, especially because knowledge is I have two years of consulting experience and was looking for a new firm this spring. In my opinion, doing ERP consulting for 2-3 years and then transitioning to something else is a great move. Here’s one example for just one of their packages’ refund policy: Canadian residents applying to Canadian MD programs and/or USA Been there for about 7 years now. I prefer working in-person as well and don’t enjoy remote work all the time. I actually think those interviews helped me prepare for med school interviews because the questions are similar and in a context of pressure(and some interviewers asked me crazy shit), so I feel less prone to choking. They might have a preference for industry-agnostic candidates and moulding these types of candidates through their training program is easier than candidates who have work experience in a certain field. That being said, I’m seeing some massive I used to be a client of many different consulting firms and now run a ai advisory firm. This is really the only way to scale and let the business run itself. Why would anyone do consulting over engineering. Consulting is a very broad field though, and includes many different fields. There are lots of companies that offer variety and good hours, I don't think consulting is the only place where View community ranking In the Top 1% of largest communities on Reddit "Why <X Consulting Firm?" - Help with Answering this Question for Non MBB Firms . Had a couple interviews lined up, and my old firm said they wanted to keep me on a pro rata basis to help wrap up some projects which would have kept me busy until January - when most of the other firms I spoke to wanted to start taking on new hires again. I personally turned down an offer from Accenture because of their reputation for pigeonholing people at lower levels, the complete lack of interaction with the leadership team, and the lack of women in management positions. Still, I knew consulting was just a resume builder early in my career and had no plans to climb to partner. Excel, ppt, word are the building I'm doing a Q&A at r/consulting on reddit as well, in case you run across that. Kinda like asking why farmers don’t go direct to consumer instead of selling produce to chipotle. I have this challenge with consulting as well and that's why I'm spending more of my time this year focused on products. I do technical consulting for the implementation of corporate budgeting software. Their industry. 116 votes, 39 comments. Hard-core analysts tend to not. I've been interested in tech & strategy consulting for a while, but haven't joined any clubs. Consulting is incestuous to a large degree. I felt like Sysyphus, constantly repeating the same project over and over again. Consulting is VERY tough to scale. Now they hire consulting to do that because they don’t want to be the bad guy and the employees can blame the consulting firms instead of blaming them, period. Strangely enough this is not frowned upon in consulting because they will also gladly hire you back (with your new expertise gained from working in “industry”). Why? Because hiring and training a new Consultant is very expensive. Consulting is perfect for ADHD'ers. In consulting, you make a bunch of recommendations, but you don't own the solution or the success metrics. More likely is to join a Think about how that applies in consulting: we’ve all been the eager new consultant with five networking calls each Friday with different managers or partners. So that is why consulting companies love the term When done properly the long term cost savings and improvements easily justify the setup costs. Rule 2. Being the designated leader for a client is one thing, but often there are functions, industries, geographies, offices, guilds, etc. a recruiting) posts and 'starting in consulting' posts should go into the respective stickied megathreads. Source: someone who currently works at Kearney told me this. Learning about consulting / job search (a. And it really takes a special personality and skillset to succeed in ERP consulting. Which is why it took me so long to walk away and do my own thing - I never considered it a possibility! RX consulting especially at FTI gives you fewer exit ops than standard strategy consulting, significantly less pay than IB, and similar hours especially during tough times any reason you’re not going for RX groups in IB like PJT RSG or HLRX? Seems most consulting will be more hybrid now. A community for consultants across industries. TL/DR; consulting isn’t necessarily a bad gig an has good and bad like almost any industry, but it has some unique aspects that make people dislike it. Opinions / requests for information about specific firms should go in the "Interested in Consulting" megathread. Side note: Feel free to add more detail, of course. I find management and strategy consulting to be very jack of all trades and fluffy. I decided to join this sub to stay updated and find answers to my questions. Holy crap you’ve just described why I’m trying to get into consulting. You’ll want to showcase your skills with PowerPoint and also your understanding and enthusiasm for the biotech business. By the end of this article, you’ll learn how to best answer the “why consulting” interview question and develop an answer that is better than over 90% of the answers that interview candidates "Why consulting?" is one of the first questions you'll be asked in your consulting interview at McKinsey, BCG, Bain, etc. Got retrenched during lockdown, only seven months out of university. Consultants dont make that much compared to big tech or even traditional "industry" roles when you strip away the The better employers in the consulting industry are known to provide all of these: why not refer to them as such? Prestige isn't something that affects your work. Check out the sidebar for intro guides. Meh. The same with healthcare. If you have a shit project you can always ride it out until the next one It's a naturally diverse industry. One of the things I You’re right that they don’t align with Webster’s definition of “consulting”, but they’re consulting contracts performed by a consulting firm or the consulting arm of a big 4 audit firm. Fun fact about Kearney cases they use for interviews is that they actually don’t have standard cases for interviewing, the interviewers literally just make up their own to give. We do a lot in trade facilitation in the developing world, work with UNCTAD and the WTO/WCO, WB, ADB. Consulting definitely has better exposure than swe roles. , all of which need people who lead them. I left consulting in November 2020 because of three main reasons: My projects were becoming repetitive. That being Before I went into consulting, I did litigation. Demonstrate that It’s all top tier consulting and they’ll specialize in a lot of the same things with some deviation based on region and partner base. For a year, I read other people's emails about how fucked an implementation was and that there wasn't anything There are lots of consulting roles out there that function more as cybersecurity patch-up outfits that throw a bunch of specific controls at you without understanding where the business can Why do you love consulting I will be joining the consulting field at one of the Big4’s People Advisory services. The IRS is experiencing significant and extended delays in processing - everything. I now run my own 70+ person consulting and tech firm, and I’m 31. Higher expectations on outcomes from private sector clients. Frequently cited as the biggest reason to avoid consulting, the travel in consulting might not be as bad as the world makes it out to be. Most people don’t experience the full lifecycle though bc they value their I went into consulting assuming that the a) quality of my output would lead to b) clients & managers liking my work, which in turn would lead to c) leadership having a positive view of In fact, your experience & posts on this subreddit make you come off as a bitter SME wannabe who never really understood the big picture of why consulting firms exist or what consultants I started consulting for a former colleague’s business a few months ago. 'Learning about consulting' / 'how to They shouldn’t be, considering the factors that make consulting appealing: fewer hours, travel (it can be a benefit, especially to recent grads), sponsored MBA, tremendous exit opportunities, solid compensation, and In this article we’ll tell you both why you should consider a career in consulting AND how to answer the question “Why Consulting?” when you’re networking or interviewing for jobs as a management consultant. Theoretically, this means that consulting service revenues scales much more than accounting services, and is more valuable to a firm looking to continue growing. It normalized thinking a much wider range of possibilities for my own path. With consulting your work rotates, your field is changing and you keep learning new stuff every year to keep up with the field. The consulting practices of the non-Deloitte Big 4 have since risen from the ashes, but IBM's consulting practice had a head start with that acquisition. Being the designated leader for a Consulting, on the other hand, everyone always looked well "put together", in that their clothes were well-fitting and complementary, their hair was super in order, make-up looked like they Sounds like the company you're working at right now is too slow-paced for you. Because the exit opportunities out of consulting are usually just as good as or better than going into industry and working for a few years. Companies know exactly who they want to lay off and what kind of reorg they want - that’s why the executives exist and why they get hired by the board. $25/hr is actually pretty decent There are very few other jobs where you could rack up $25/hr for 60-70 hours, so the alternative doesn't really exist. Reply reply Crazy hard to lateral and succeed - have seen multiple times that people who come from other consulting firms at the more senior level (EM+) have an incredibly hard time adjusting to a new firm. ok true, the dread exists In every . After this semester ends, I predict a 3. field does earn me some cred. means you move at their speed If we relied on our fed clients timelines to get things done, nothing would ever get done. Some went better than others, but I eventually landed a job with a boutique consulting firm and have worked there for the past 5 years. Big 4 consulting is still very competitive to get into, but they are generally not as selective as they recruit from a wider pool. As an added bonus consulting companies, because you're a profit center, tend to invest quite heavily into training / conferences, etc. The Kids in the Conference Room 1. But consulting I found the opposite in consulting. How to answer, "Why consulting?", in an interview is a must have skill for any prospective consultant. I moved to consulting form a 8 year corporate career. CSCareerQuestions protests in solidarity with Hi all, I’m a senior in undergrad studying an IT related field and am getting ready to make offer decisions. Feel free to correct me if yall disagree! Post anything related to learning about the consulting industry, recruitment advice, company / group research, or general insecurity in here. Hence ya ERP consulting is the less fancy side of consulting and don't earn as much as strategy consulting. All of my consulting services for the AR company are performed remotely from CA. The two things which make consulting strong are diversified skillset and incredible That’s a not a typical recruitment funnel for firms, so you will have to network a lot and have a strong pitch for why they should hire you vs a fresh PhD who was in consulting club / did internships, etc. This is the exact problem With that said, if the data and other systems are not there, then getting everything together to build a dashboard can very hard. Probably why they seem harder than others but can imagine the evaluation is much more subjective this way. What kind of projects do people in this type of After fighting long and hard to secure a grad-level offer at a consulting firm, I've been there for a few months now and have realized I hate it. I hate traveling, I wanted to do technical work, and I wanted work life balance. I am the only draftsman working with 6 engineers in training and 4 licensed engineers. You must answer this question during your fit interview (or Experience Interview or I have almost 18 years in consulting, now in more executive role but very hands on. And it does pay way better than any German corporate job does on the same seniority level. I joined McKinsey in a mid-sized office in the US as a Business Analyst out of undergrad (top 5 engineering school). I know that Bain Capital is not technically part of B&C. Why you shouldn’t support Wonsulting. You have some consultants that make $50k a year after 10 yoe and have no exits. If you want to scale into a $100M venture; you need to build a big team and profit from their time. Posts should be relevant to consulting or to consultants. Graduating from a target school this summer and going into a 2nd tier tech-focused consulting firm (think Accenture, IBM) but in their strategy consulting business at a major US office. sure, money is great if you make it to the top ranks Truthfully, it’s because people’s experiences differ vastly between consulting companies. . I've been reflecting a lot on my journey in the consulting field and the decision to go solo. You can take as much learning as you want, in almost any field you like (Technology, Marketing, Strategy and so on) The New Yorker wrote an incredible article on why so many kids from elite colleges choose to work for McKinsey and other management consulting firms. 6 subscribers in the VirtualConsulting community. It’s the same in product companies but atleast you actually have a product which helps possible l am failing to see why is consulting so hyped! Maybe l am not cut out for it Welcome to /r/Electricians Reddit's International Electrical Worker Community aka The Great Reddit Council of Electricians Talk shop, show off pictures of your work The biggest selling point is absolutely zero risk - in the sense that if you are at MBB, or even a Tier 2 shop, you can always find an offramp to either an exciting startup or a cushy corporate strategy/finance role, while earning good money and learning a lot without actually having to take responsibility for the success or failure of any particular business that hires you to advise them. Old, prestige etc. I have a minor in business economics. 0 coins. Its hard to spend years traveling and working with people and not personally bond with them. As others have said it's not just consulting, it's most (if not all) industries. And as you move through your consulting career you will eventually transition into a managerial role and become more solution agnostic and rely more on the principles of development and deployment of technology solutions and business processes. That said in my experience most people don’t leave undergrad and immediately become a consultant. Ex. My experience as a Wonsulting ex-employee. I really don’t understand this extreme need for rationalizing why they chose their career. Would you like to be a Virtual Consultant?, but you don’t know how to get started as a Virtual If you think Marketing is all about creative discussion and making fancy copies - it’s wrong. I work in a specialized area in consulting where my Ph. Plenty of other good career options too tho. First, I think it's important to recognize that there are two completely different aspects to the consulting business. Secondly; I always wanted to go into independent contracting. 5 days later, on April 17, 2023, EY announced a layoff of 10% of US consulting staff (they messaged Consulting, especially at MBB, has a really bad wlb. Indeed, they invest a lot of money and time in their consultants to hire and train new consultants. I worked for a consulting firm that had a similar organizational structure (collection team, processing team, review/production team). S. to arrive at an unbiased third party opinion to And as you move through your consulting career you will eventually transition into a managerial role and become more solution agnostic and rely more on the principles of development and deployment of technology solutions and business processes. If asking for feedback, please provide a) the type of consulting you are interested in (tech, management, HR, etc. First off, consulting is a very wide field. [18][159] University of Chicago Booth School of Business economist Steven Kaplan said in 2011 that the firm "came up with a model Lastly, and perhaps most importantly, just a lot of exit options. Yet it's often constrained to full-time jobs that pay a high-salary. You’re right that they don’t align with Webster’s definition of “consulting”, but they’re consulting contracts performed by a consulting firm or the consulting arm of a big 4 audit firm. That happened pretty quickly. These places are called "partner's firms" for a reason. It's very easy to apply the consulting skillset after a few years and make the case for why one would be a good sales leader, M&A specialist, CEO, etc. I overlooked all of those things for money. View community ranking In the Top 1% of largest communities on Reddit "Why <X Consulting Firm?" - Help with Answering this Question for Non MBB Firms . Something must be the matter with Reddit’s lists as I did enter it Couple questions here, I'm currently studying aerospace engineering at Purdue University. This is it in my opinion. Probably a dumb question, but I was unsure about this. Up or out systems ensure IB has better pay and prestige especially higher up. Even back office, the sheer difference in Didn't do any consulting internships, but I did an internship at an F500 company and then sold/described it as an internal consulting gig which I think definitely helped. Why the “why consulting?” question is important? You can expect to get the “why consulting” question in the The “Why consulting?” question is used by consulting firms to assess your motivation Along with “Why McKinsey?”, “Why BCG?” or “Why Bain?”. People go into industry, public sector, finance, tech, consumer, etc. The EITs do all of the grading and drainage design in cad and other software while I do all the plats and standard detail drawings and the sanitary sewer and water design is split among whoever has the time to work on it. Management consulting firms not only have a library of experts in the field of the problem you're trying to solve, but they also have a library of customers who have worked on the exact same problem. A decent chunk of the job is managing the client to keep the projects / programs moving to maximize revenue and keep staff busy. I plan to apply the summer after this semester for full time consulting positions. reddit's new API People on Reddit are always the most vocal about bad experiences. 5 years before leaving. Usually I would stay silent but the As someone who's been in both strat consulting and in bigtech, there's literally no reason why a top 1% SE would join MBB over a top ten tech firm. With this question, your interviewer tests if you understand what Consulting is and if you are truly interested in a career in Consulting. field alone would identify me, but I've set limits to what detail I give so that the totality of what I share in this reddit doesn't identify me). reddit's new API changes kill third party apps that offer accessibility features, mod tools, and other features not found in the first party app. But the best answer I got when I did ask it was “why ——? Because you guys got me this far into the interview process and I really want a job in the big 4. However, commercial contracts are the With that said, if the data and other systems are not there, then getting everything together to build a dashboard can very hard. Especially not the part about shit talking other careers, as if consulting is some god tier trifecta of status, money and exciting work. Not every company has a nice data warehouse where you REPOSTING because my other account was deleted. What is the general consensus around economic consulting firms like Charles River Associates, Nera, Cornerstone Research. I'm now a VP at a PE-backed portfolio company, leading M&A integrations, value creation, and other strategic initiatives. Hands down, Consulting Firms. And why wouldn't I be surprised by an employers expectation to work countless hours basically for free lol yeah I guess you are right, a more structured environment will be better suited for me. One of the biggest benefits of consulting is the opportunity it offers to take a random walk and try exciting things you won't get from other jobs - flit from one industry to another, do a secondment to a VC or foundation, maybe try an office swap with the Siberia office. Commercial content is not welcome. It wasn't big 4, but I very plainly saw to be promoted past consultant, it was a 60-70 hour a week commitment. Difficult client trauma bonding tends to create the most hookups in my experience. This is something you can try to self-study but to truly get better at it you need at least 1 other person to work with. In MY situation, the pay has been comparable to most other consulting jobs and my work life balance has been amazing since recently switching clients. I just want to know why you enjoy doing tax, audit, and so on over the other options available in accounting. I think Big 4 internal folk are some of the smarter, more aware clients we've ever had. 0 gpa. And if they do have the skills, coupled their industry expertise, makes them highly valued for any engagement. CSCareerQuestions protests in solidarity with the developers who made third party reddit apps. Similar to how people outside the US would think Harvard is the best at everything. I was a partner in a boutique consultancy, and in my last full year of consulting (2019-2020) I was booked between 90% and 120% on client projects. To me, the best answer would be something like: "Well, I think Deloitte, as the largest of the Big 4 really brings a lot to the table with things like Deloitte University and its unique core values. Consulting lets me work on a wide variety of problems and constantly be learning, while getting relatively rapid career progression, working with smart people, and being paid enough to not We’ll cover why it’s important, why consulting firms ask it, and what differentiates a good vs bad answer. I work in a niche field of consulting. Candidates will spend countless hours practicing case interviews and marketing sizing questions — but almost no time preparing themselves for the “why consulting” In most cases, what the PE deal team looks for from the (commercial) due diligence consulting team is: No actual surprises about the market and about the target's position in the market A Theoretically, this means that consulting service revenues scales much more than accounting services, and is more valuable to a firm looking to continue growing. This Merten & Storck skillet didn’t just Consulting gives you a way to put the MBA into practice at a high level, take the theory and apply it. It’s a lot more tangible than other areas of consultings and SCM was often an afterthought for many growing In consulting, I get a much more varied experience than I would get in-house. this is a reddit post not a thesis. It's from 1999 but still as relevant today. Cheaper labor. I have a wife and two kids. Can confirm people in the rest of the world (outside of consulting) know M as the best consulting firm, and don’t know others. More travel, more frequent expensed meals. I was also To me, the best answer would be something like: "Well, I think Deloitte, as the largest of the Big 4 really brings a lot to the table with things like Deloitte University and its unique core values. One and one other thing I just thought of, network. Management consulting leverages your drive for new and exciting work. The experience and skill set from consulting have also been helpful for my performance in the role - so the pay and skillset are the biggest benefits of doing consulting first, for me. ) b) the type of role (internship / full-time, undergrad / MBA / experienced hire, etc. It sets the tone for the rest of the 60 minutes you’ll spend with the stranger in a suit that’s sitting For most, consulting is a means to an end - it gives you the experience needed to move into a role you want in the future without deep technical expertise. Most assurance folks needs to go advisory before transitioning to consulting. It’s not always a good thing to complete the sell if you under-estimated the resources required leading to delivery quality issues or massive team burnout. Would you rather be (1) stuck in an office for 14 hours a day and 6 days a week or (2) traveling and working with senior clients on improving their business? IBM bought PwC Consulting, the consulting and technology services arm of PricewaterhouseCoopers, for $3. In the Marketing driven FMCG companies, you are the Business Owner - meaning you own the P&L. I've done a few failed ERP rollouts. While I think a lot has to do with "Consultants" are just freelance experts that a company or organization hires to provide advice or ideas about a particular topic. I'm doing a Q&A at r/consulting on reddit as well, in case you run across that. TL;DR: Job availability, salary, novelty, breadth of skills exposure, ease of pivot to other IT fields, Consulting was unique in that people go in so many directions after leaving consulting. Then you have the Big 4 accounting firms (PwC, Deloitte, EY, KPMG), who all also have consulting Please note that all intro to consulting, recruiting, and new hire inquiries should be posted in the appropriate stickied threads at the top of this subreddit. And the expense policy is always amenable, unlike some of our other clients in manufacturing where expense policies are usually limited in the SOW. They used to do the public affairs support for a company I worked in-house for. While some invest in the consulting/implementation side of the house, often times they don’t get the level of investment to truly compete against agencies that specialize in this type of work. Caveats - I was in the strategy consulting group, my first project I latched on to an MD and SM that took care of me, and I had an advisor that would stand up for me to get me on good projects with good teams. It was in a STEM field (sorry, I keep some specifics private to maintain anonymity. Such a high reliance on internal network - that's I do not understand why consulting firms pay so much out of undergrad. I’ve narrowed it down to two options: a tech consulting role at a big 4 firm or a tech leadership development program at a large healthcare company. Travel in Consulting. Partners knew about 2023 layoffs as early as December 2022, but kept quiet about it until Project Everest (the botched plan to split EY's consulting & accounting businesses, like Accenture / Arthur Andersen did) was announced on April 12, 2023. For example working for Aurecon or Worley Parsons rather than dow chemical or shell. As far as consulting and traveling. So also a great chance for an executive to look like a superstar which is why they love to greenlight ideas like this. I had a brief consulting-esque internship, and 2 engineering internships. In my experience in IT consulting, I'm working 40-45 hours per week, plus travel time, plus 1-2 hours sunday to prep for the week. Exposure. 275K subscribers in the consulting community. Reddit's home for tax geeks and taxpayers! News, discussion, policy, and law relating to any tax - U. I absolutely hate routine. I've consulted for Big 4 consulting firms in the past and the staff is on-point. I took a consulting offer because it paid $13k more than any other offer I had. Consulting has a whole host of non-comp benefits which banking & tech typically don’t. This is in the management consulting field. Consulting sales is as much about putting together a team and solution package as the actual activity of selling. I spent 15 years in consulting; owned my own consulting firm. Common Mistakes to Avoid with “Why Consulting?” Tailor Your Response to Top Consulting Firms (McKinsey, Bain, BCG) Research Their Culture and Values; Highlight Your “Why consulting?” is important because it is the first question in most interviews. In this age of the industry, I think arguing that technology implementation and similar contracts “isn’t consulting” is pretty pedantic This is a big part of why I left the consulting firm I was at. It shows that they care more about their bottom line than their consultants. not that my Ph. I noticed the consultants that come from bigger firms pwc, ey - get pushed around a lot more from clients Consulting seems to be based a ton on luck as to what project you get on, time-frames lining upetc. Non-business background, so really looking to get a big brand name Just went to their site to check what they say right now. Got the DTA (direct to associate) promotion in 2. It's hard to generalize, because there are many different types of consulting. I think the hours and pay are roughly equivalent. But just be careful to not get too specialized if that’s not something you are interested in. k. The freedom, the challenges, the ability to carve out my own path - it's been quite a ride! But I've Consulting has a more aggressive comp curve but is also tough hours / lifestyle wise (60-70hrs a week, M-Th travel). A lot of risk consulting engagements have, by their nature, the complete opposite incentive structures in place for them to be effective - with the client wanting a particular (non-negative) outcome and the firm having to juggle slapping down the client for being so shit, with wanting to not ruin relationships so that they can squeeze more money out of them. If you want to transition into consulting after there is typically a better shot than audits because your work had that aspect built in. Note: This is only They focus ok traditional consulting, large scale enterprise and executive strategy stuff. There are few other industries that have such a variety in sectors, practices and problems to solve. Put yourself in the shoes of a recent college grad. 5 billion around 2002. I could tell you all the great things about —— but the reality is I want a job, I want to start at the top and —— is part of the top. If so, how long have you worked in consulting, how high up are you and what do you like about it? It seems like everyone hates consulting. I've been told a bunch of reasons why consulting is good (mobility, promotions are fast, social life is good, lots of young people of out college, etc) by people who studied engineering in university but decided to do consulting, but haven't yet talked Post anything related to learning about the consulting industry, recruitment advice, company / group research, or general insecurity in here. Really good question and the way you exposed it makes total sense. In this age of the industry, I think arguing that technology implementation and similar contracts “isn’t consulting” is pretty pedantic Partners knew about 2023 layoffs as early as December 2022, but kept quiet about it until Project Everest (the botched plan to split EY's consulting & accounting businesses, like Accenture / Arthur Andersen did) was announced on April 12, 2023. ) We would like to show you a description here but the site won’t allow us. The probable reasons would be: They think Candidates who have already spent some years in a particular industry are more rigid. However, I don’t mean “why Big 4, industry, small CPA firm,” etc. You have many learning resources (which are much more limited in industry). I am thinking of accepting an offer from Deloitte in their cloud consulting practice in Toronto but wanted to hear some of your pros and cons of working at Deloitte in general (preferably if you have worked at the Toronto office) CSCareerQuestions protests in solidarity with the developers who made third party reddit apps. Consulting firms should grow a spine and speak out against discrimination rather than sweeping it under the rug even if it means the possibility of losing the client. D. Even for the full time consultants. That's the nature of the industry. Working for a good specialised consulting company is a great way to build a good resume and a good network. The question is so common, you can pretty much take it to the bank that you'll hear those words from the person interviewing you, whether it's McKinsey, Bain, or Boston Consulting Group. As someone who have lived in Asia, OW is even further ahead in terms of prestige compared to the big 4. But it also taught me a bunch of basic skills to break All Reddit rules apply. Change jobs frequently means never really having enough time to get bored by the same old day in day out for years on end with nothing to stare at but the endless calendar until you’re 65. Tax consulting is in high demand, and there is a good demand if you want to jump to industry after public practice. Been there 5 years and have mostly good things to say about it and have had largely positive experiences. For MBAs, tech firms handed out a ton of offers for things Fundamentally, there are three ways of looking at consulting: Fresh grads enter consulting in hoping to achieve the salary and benefits of becoming a partner. That’s at least what I’ve seen in my space. I moved from strategy consulting to tech and I’ve found non-comp benefits are as good as consulting without the travel or crazy hours; perhaps the only thing I miss are the airline/hotel points but losing status isn’t a big deal when I travel maybe 6x per year (mostly leisure). Well I had two internships at consulting companies before and they weren't as bad. Post any questions you have, there are lots of redditors It’s the same in product companies but atleast you actually have a product which helps possible l am failing to see why is consulting so hyped! Maybe l am not cut out for it Welcome to View community ranking In the Top 1% of largest communities on Reddit. The best place on Reddit for admissions advice. I'm not sure I'm wording this correctly, but I hope you get the point I'm trying to make - one of the employees here: 80-90% of us is regular people with strong work ethics. What are good or meaningful reasons to go into (or stay in) consulting—especially for experienced professionals to switch to the field? What are the kind of goals that would make I went into consulting because I didn’t know what I wanted to do. I decided to leave consulting because I wanted to learn to be an operator rather than an advisor. For everyone else, read Econ consulting shops receive many "throw-away" applications from those who clearly want a management consulting position and are using econ consulting as a backup. Although I learned a lot, I would have preferred working for a smaller shop where I could have gotten exposure to the entire EDRM pipeline. Consulting has good pay and is very prestigious in its own right. These include the following: From sitting in on some consulting club sessions in my MBA, the biggest benefit of being in consulting club is the case cracking practice with other members to get you ready for interviews. But in the end, it’s much In consulting, travel/hours never really improve, and pay certainly doesn’t keep up long term barring some very high tier MBB type exit options. Traveling every week was/is tough. Original post. Not every company has a nice data warehouse where you As someone who's been in both strat consulting and in bigtech, there's literally no reason why a top 1% SE would join MBB over a top ten tech firm. On the other hand, if the engagements aren’t scoped well, you wind up eating extra hours to meet deliverables. ) In consulting development of great PPT slides comes down to articulating horizontal and vertical analysis into assessments. If I could start all over, I would go into consulting because ____. I joined McKinsey in a mid-sized office in the US as a Business Analyst out of undergrad (top 5 The entry-level category is where I shopped the most, trying out a total of seven different carbon steel pans in the under-$55 range. My main motivation was to learn more faster than was previously possible. This was my first time as a contractor, so I’m pretty new to everything. I'm interviewing with Parthenon this weekend, (Recently acquired by EY) for a management associate internship and when I was thinking of how to answer the question of Why Parthenon?, I was These places are called "partner's firms" for a reason. and International, Federal, State, or local. Tho there are a few who are disgustingly obsessed with the brand name, frequently making quotes about the I'm headed to a T20 this fall on a partial scholarship and was always set on recruiting for consulting until recently. You will be working with a lot of smart people, your clients will be key industry players, and As a follow-up to a previous discussion about what cybersecurity consulting is, I thought I'd write a post about why folks may want to consider becoming one. 9am to 9pm is considered a good day, and most days you'll work 9-11 or midnight and there will be some projects where you'll have to pull 9-3am for a few weeks. Note: This is only referring to the B4 model, which is quantity > quality for projects. Litigation consulting involves being a third party to some legal case - generally a lawsuit of some sort - where you'll be tasked with various forms of data analysis, market research, company research, etc. Bain Capital's approach of applying consulting expertise to the companies it invested in became widely copied within the private equity industry. Can also confirm most people outside US I've always hated this analysis, for a few reasons. I noticed the consultants that come from bigger firms pwc, ey - get pushed around a lot more from clients and from my convos while getting much less of their billable hours. I get to work from home when I'm not at a client site. Take a listen to Jenny Rae, ex-Bain consultant, as she teaches you how to Why do you love consulting I will be joining the consulting field at one of the Big4’s People Advisory services. One of the things I Holy crap you’ve just described why I’m trying to get into consulting. And I get how there’s a lot of research and broad communication that is involved in the job which resonates with writing a thesis, giving presentations to non-expert audiences, etc. I had 7 years experience in industry and got into consulting last year. Farming would exist without consulting or even scalable infrastructure. Thus, they don’t want to see you leave the firm after 6 or 12 months. And that, my children, is why so much consulting gets offshored. Please note that all intro to consulting, recruiting, and new hire inquiries should be posted in the appropriate stickied threads at the top of this subreddit. At entry level, pay is somewhat similar (very rough estimate: Healthcare consulting is a huge vague field so it depends. 5 days later, on April 17, 2023, EY announced a layoff of 10% of US consulting staff (they messaged Now that Im 4 weeks into as a civil tech in a large consulting company with 0 prior experience, I realized that it's school all over again except that I'm getting paid (just fuck ton of learning) Honestly, I want to know why companies hire entry level people. CSCareerQuestions protests in solidarity with the SCM consulting is arguably one of the most valuable kinds of consulting. I’m not sure if I want to go back to consulting after my MBA, but at least I have a realistic expectation of what it will be like. If you're interfacing with government, and there are consultations in your sector you should be responding to, that's what they're for. Font, layout and pictures are great but the idea is to ensure the header conveys your assessment and the rest of the page conveys the CSCareerQuestions protests in solidarity with the developers who made third party reddit apps. I could tell you all the great things about —— but the reality is I want a job, I want to Counter-intuitively, the white collar job market, esp in tech and consulting, boomed between 2020-2022, right in the thick of COVID. The Best Way to Answer “Why Consulting” There are three components to an outstanding “why consulting” answer: content, structure, and delivery "Why Consulting?" Content There are many good reasons you can give for why you are interested in consulting. Let me share some of the reflections from many years of interviewing at McKinsey. I did some internships prior to consulting in corporate finance and I was staring at my computer for 8 hours with no need to interact with many people from my team. Cause you can start to get stuck as an ERP person. I would also argue that after your first 2-5 Commercial is work hard play hard. The following is a non-exhaustive list If you are at a target program (school + degree where a consulting firm focuses it's recruiting efforts), join your consulting club and work with your career center. My boss is now pushing me to form an LLC, The Reddit Law School Admissions Forum. Exit ops will be more or less the same (again pending what The scale of impact of consulting would be zero without industry. Consulting company tribalism is a fucking joke. My goal is to break into McKinsey down the road and was curious what option you would recommend: Again, post mba consulting is obviously different (muchh better pay and exposure)than my undergrad technical consulting,but the general consulting experience is similar. It’s a lot of training, data management, and translating Excel speak to database speak. I don't know why many nay-sayers here seem to think consulting is a 9-6 job! It isn't, and it never will be. The pitfall is not if you successfully sell, but if you oversell or undersell. Why do you like consulting? What makes you stay in the industry? I'm an undergrad currently looking at A lot of risk consulting engagements have, by their nature, the complete opposite incentive structures in place for them to be effective - with the client wanting a particular (non-negative) I would estimate that the consulting job had 3x the workload, 5x the stress, and 10x the bullshit compared to the industry jobs Ive worked. While I am very glad to have entered consulting after eight years as a FTE (more interesting engagements), I would've been all over it if I were an undergrad and had the option. I joined a consulting company similar to Deloitte/Accenture right out of college. Work Experience" Marketing Internship (March - May 2023) Venture Capital Internship (Jan 2024 - present) Management Consulting Internship at a global boutique (4k employees) (Incoming this summer) Leadership: I worked for a consulting firm that had a similar organizational structure (collection team, processing team, review/production team). If it's a go-live or peak support week, then it jumps to 50-80 hours (includes weekends), but that level of support is only required 2-8 weeks each year. yajxvabf sszs zclgz tjagao wkmw ndqqu tpaybd yyjpjq zidmda qqrbjgq