Management Consulting

Harmless_Venom
Harmless_Venom

Any consultants on Veeky Forums?

Currently work as a business analyst for a tech startup, and am considering transferring into consulting, I get the feeling the skillset would transfer well.

What's it like to work as a management consultant? And what's the money like?

takes2long
takes2long

@Harmless_Venom
freelance or thru a big boy ?

JunkTop
JunkTop

@Harmless_Venom
why dont you like the biz analyst at the startup position? Also, what did you study to get the job?

I think the hours in the big boys are crazy and the attrition rate very high (pyramid of promotion and layoffs)

AwesomeTucker
AwesomeTucker

I'm actually applying for a Management Consulting job at PwC now, can somebody please give me any tips to land it, i'm coming from a A/R background and was a Ex-english teacher.

Anything will be appreciated

Garbage Can Lid
Garbage Can Lid

@Harmless_Venom
What skillset do you think will transfer well OP? and do u have friends there?

Snarelure
Snarelure

B U M P
U
M
P

Spamalot
Spamalot

@Harmless_Venom
Don't know the job.
Shitty job experience.
Think he can do it.
Typical Veeky Forums.

IB/MC is for elite.
Your are not.
Now f**k off.

cum2soon
cum2soon

@Harmless_Venom
If you have a decent degree and are good at tests/assessment centres you might get a graduate post and the life sucked out of you for 5 years.

Stupidasole
Stupidasole

@Spamalot
Lmao look at this fuccboi. Ur boring pointless life getting to ya hey?

MPmaster
MPmaster

@Stupidasole
Dixit le Ex-english teacher dreaming of pwc.
Stop projecting yourself and enjoy being rejected.
Not everybody is made to be a consultant.

haveahappyday
haveahappyday

@MPmaster
being this much of a sadcunt

It's called having broad interests and being versatile. The english school was my own business started by me and my Chinese partner, teaching's one of my passions - and it's time to apply that to a new scale.

Don't do the same thing for 25 years and calling that a life.

idontknow
idontknow

2016
Still doesn't understand "consultant" = contractor

Obama changed the permanent employment landscape with Obamacare.

Now companies hire 80% of their employees as contractors instead of going to perm. Contracting HR companies absorb the cost & legal responsibility of an 'employee' while the hiring companies themselves are shielded.

For example, Cisco & Microsoft use contractors & 3rd party headhunters exclusively to avoid Obamacare penalties.

This gives corporations the ultimate "try before you buy" option on employees and hurts employee stability.

One consequence Nobody expected when voting on "obamacare" years ago.

Just like the ignorant brexit voters. No fucking idea what they're actually voting on or the effects

Methnerd
Methnerd

@idontknow
In my experience consultant > contracter. They get paid more and usually have to travel more.

Burnblaze
Burnblaze

@haveahappyday
Jack of all trades, master of none.

WebTool
WebTool

@Burnblaze
Keep telling that to yourself buddy.

Jack of all trades > Master of mediocrity.

Dreamworx
Dreamworx

@Methnerd

Honestly in today's world, those lines are merging.

What you're talking about is "managed services" like Accenture or Anderson Consolting ... in the days of old.

That business model has dies or is in its death throes...

Stark_Naked
Stark_Naked

@WebTool
Jack of all trades > Master of mediocrity.

Social skills/soft skills = Jack of all trades is good

Hard skills/tech skills = jack of all trades just means you're too dumb to dive deep

likme
likme

@Dreamworx
Yes I actually worked for accenture fed at a delivery center. On some projects we would work with the accenture llp and they were known as traveling consultants and we were just contractors. They make more and travel more. You think this model is dying? How so?

Emberburn
Emberburn

@Stark_Naked
I'm a consultant for a healthcare boutique. We get hired out by teams like Accenture when they get involved with a healthcare client and lack the nuts and bolts to address issues which go deeper than systemic.

Whoever is advocating for Jack of all trades master of none is right. If you want to be on-site, making decisions, delegating, and making bank social skills are paramount.

Specialists who lack soft skills are stuck in offices across the country hammering away at computers doing analysis work. Still get paid well, but like upper five digits instead of upper 100s/lower 200s like us.

The difference is someone with one useable skill is significantly more interchangeable than us. If one of them quits we'll get some other STEM kid. If I quit or one of my colleagues the firm will have a much harder time replacing us and it would damage the in person relationships we've developed with clients.

Hope this helps. Let me know if you have any questions.

Gigastrength
Gigastrength

@Harmless_Venom

What kind of issues do your customers face that they can't solve but you can? Do you have access to resources they don't?

How does management consulting works? Are these consultants management geniusses, are their clients just that bad at it?

Techpill
Techpill

@Gigastrength

ment for @Emberburn
I'm clearly retarded.

TalkBomber
TalkBomber

@Gigastrength
Use the clients' watch to tell them the time.

RavySnake
RavySnake

@idontknow
idiot pol disregard

@haveahappyday
@JunkTop
you dont have a chance straight up. management consulting is for people that have worked with/for the c suite. accounts receivable is not that. look for another job.

Evilember
Evilember

@Gigastrength
This.

how can some outsider possible advise a company's management on how to run their company?

Ignoramus
Ignoramus

@Emberburn
So as a STEM kid in college, how do I differentiate myself as not another analyst? Is it a matter of finding the right job at graduation? I'm worried I'll take some technical position and pigeonhole myself as someone who lacks soft skills.

Crazy_Nice
Crazy_Nice

@Emberburn
How did you get into consulting?

Is there anything that makes it easier to get into consulting? Maybe get certified someway?

Flameblow
Flameblow

As I explained, the new affordable heath care act shifted large penalties to corporations who don't comply.

As a result of the extra cost, large corporations simply outsource their HR to "HR vendors" who take legal responsibility for your hiring and benefits.

Maybe there are other HR specialists here on Veeky Forums but this is the unintended consequence of affrodable care.

Kinda like the Brexit vote. Idiots voting have no idea what the true business consequences are.

SniperGod
SniperGod

@RavySnake

Stay ignorant my friend.

New_Cliche
New_Cliche

@Harmless_Venom
Former consultant here. It was fun for a while. The money isn't good until you make partner in 12-never years. Work pretty much transfers over but expect to spend 3x as much time making Powerpoint decks. You'll do well if you're a natural salesman, otherwise be prepared to reach your limit in a couple years.

Sir_Gallonhead
Sir_Gallonhead

@New_Cliche
What if you aren't so sales inclined?

I enjoy talking in front of people but I'm not very sociable, what's your take on that? Is consulting still a good choice?

eGremlin
eGremlin

@Sir_Gallonhead
Consulting might be a good choice for you for 2 years +/- to get it on your resume, but you aren't going to rise up through the ranks. Partners at any of the big consulting firms have targets of 10 million + in revenue per year. The way you get that revenue is by selling projects to your clients. Sociability is a skill that you will learn.

Evilember
Evilember

business school grad student
junior analyst/consultant position at a boutique management consulting firm
Any tips on how to transition from the boutique to one of the largest management consulting companies?

KPMG, PWC, and EY are looking attractive since I'm studying accounting/finance, but I'm interested to lean more into the strategy consulting field.

Fuzzy_Logic
Fuzzy_Logic

@Harmless_Venom

I spent 3.5 years at ACN. Big 4 consulting is gold on the resume. If you stay there longer than 5 years it's because you drank the kool-aid and enjoy being underpaid and overworked.

It's great for when you're fresh out of college. Do it for a few years and leverage a larger offer. When I left ACN I got a 75% pay raise. They tried to counter offer with 10% and I had to withhold my laughter.

TreeEater
TreeEater

@Fuzzy_Logic
Dude, same here. Got a 50% bump instead though. Only worked at Accenture for 2 years though.

w8t4u
w8t4u

@TreeEater

Amazing, isn't it? I still know people there deep throating that kool-aid teat. Been out of ACN for 3 years, it would have taken me closer to probably 8 there to make what I'm making now, and that includes a lot of 60 hour weeks and soul-selling.

Emberfire
Emberfire

@RavySnake
you're right about the elite thing, but having connections isn't a skill. those are some weird mental gymnastics

@Evilember
most of them can't. some companies are poorly run though. I don't mean poorly run in terms of them being stupid, I mean in terms of bureaucratic lifestyles the infighting and rent sinking has killed it, and outsiders are necessary for restructuring in such a case.

half the time though, they're just finding ways t fudge GAAP to maximize valuations when the company is bought and resold.

so basically, they do nothing.

Need_TLC
Need_TLC

Has anyone heard of Sam Ovens?

SniperWish
SniperWish

@Harmless_Venom
you'll probably not end up in a management consultancy at these sorts of firms but rather a more technology orientated consultancy position

a friend of mine moved from a consultancy role in the professional services arm of a financial software firm to a consultancy role at Accenture... he now regrets it - they don't really do anything, it is essentially a career in bullshit - not much value added yet the ability to throw a bunch of new grads at a project and bill the client a fortune is impressive

I think if you want any sort of career satisfaction and are competent technically in addition to having the required Eq/soft skills then stick with the BA type roles or move into a technical consultancy position. Pre-sales/Sales within a software firm is also a decent role and can be quite lucrative (up to seven figure bonuses at the higher end once you're leading whole teams on pitches of big enterprise system)

if you're going down the more generic consultancy route then be prepared for lots more internal politics, lots o bullshitting and not much actual job satisfaction - the money could compensate for this if you survive but there are other ways of making money while actually adding real value

BlogWobbles
BlogWobbles

@Methnerd
completely depends

in some sectors if you're an independent contractor then you can earn a fortune... the consultancies can charge a higher daily rate but the individual consultant will see much much less of it and still be paid less than the individual contractor

consultancy is only worthwhile if you survive and climb the pyramid

Booteefool
Booteefool

@SniperWish

it is essentially a career in bullshit - not much value added yet the ability to throw a bunch of new grads at a project and bill the client a fortune is impressive

Yeah this is insanely accurate. As I said previously, it looks incredible on a resume though. Your buddy won't regret it when he sees the job offers when he decides to leave.

King_Martha
King_Martha

I know a guy who had a first a job as Civil Engineer then I guess he got a job at Accenture and moved to KPMG. Interesting career moves. Random anecdote.

Poker_Star
Poker_Star

@Booteefool
well he did have another good offer for a risk BA position at a large European bank at the same time as he got the Accenture offer... though yeah I'm sure you're probably correct in that the brand name at least won't do him any harm if he leaves in a year or so

Boy_vs_Girl
Boy_vs_Girl

Working at booz Allen right now.

BinaryMan
BinaryMan

Is a degree in Information Systems good enough to land a job with a big 4 firm?

TalkBomber
TalkBomber

@Harmless_Venom
Worked as an environmental/geological/energy consultant for a while. I enjoyed it, but always felt like the client could do the job themselves for half the price

Supergrass
Supergrass

first person in working-class family to go to college
top student in quality high school; excelled at math/science
apply to only one school and get accepted into engineering
finally get to the engineering courses junior year
it's fucking gut wrenchingly boring
can't transfer credits elsewhere due to program structure. would probably have to start all over
end up salvaging undergrad credits in their small business school with a business management degree
So I'm done now but I have no direction. I have a business management degree composed of high-level math/science, lean/sixsigma courses, and a series of finance courses. I have limited programming experience (matlab/sql) but am very adept to learning it.

What sort of entry level positions would Veeky Forums recommend? How can I leverage my tougher coursework to help me find a role in the business world? I figure some sort of business analyst role would be a good place to start. I live near chicago.

SniperWish
SniperWish

@Gigastrength
@Evilember
Mostly, the people who hire consultants are looking to get them to say things to senior management that they can't, for political reasons.

AwesomeTucker
AwesomeTucker

@MPmaster
leave biz and don't come back you useless cunt

Crazy_Nice
Crazy_Nice

@BinaryMan
Yes, but it depends on what you are trying to land. Big 4 in general are accounting firms and they want you to be eligible for your CPA if you're involved in Accounting. If you're in IS, they may expect a CISA from you if you plan on doing some kind of audit whether Accounting audit or IT audit.

Need_TLC
Need_TLC

@Fuzzy_Logic

Why does that look so great on the resume?

Skullbone
Skullbone

@Flameblow
You mentioned the Brexit vote twice and called people idiots. Elaborate.

Disable AdBlock to view this page

Disable AdBlock to view this page