Working for a consulting firm is no easy task. It requires a strong work ethic, the ability to work long hours, and the right skills to stand out from the competition. Boutique consulting firms offer more freedom and the opportunity to work on internal projects, while major strategic consulting firms such as McKinsey, Bain, and BCG require more experience and expertise. Consulting clubs are a great way to connect with potential employers and learn more about the industry.
Strategy consultants provide advice on high-level decisions such as entering new markets, pricing strategies, mergers and acquisitions, research and development investments, organizational structure, and competitive threats. The “big four” consulting or accounting firms are Deloitte, Ernst and Young, KPMG and PwC. Management consultants or technology consultants help companies with various problems they may have. Of those who have been counseled, about one in four people who joined consulting found it stressful and unpleasant, one in four enjoyed it, and the rest thought it was a positive experience with significant challenges.
There are also people who gain work experience in an industry, get an MBA, and then get hired by a consulting firm. The challenge of working for a consulting firm is real. It requires dedication and hard work to succeed in this field. But with the right skillset and knowledge of the industry, you can make it happen. Consulting clubs are a great way to get connected with potential employers and stay up-to-date on new trends in consulting.
Knowing what to expect from major strategic consulting firms such as McKinsey, Bain, or BCG is essential for success. Understanding the roles of strategy consultants, management consultants, or technology consultants can help you decide which type of firm is right for you. And finally, having an understanding of the challenges that come with working for a consulting firm can help you prepare for the journey ahead.
