A few years in the consulting industry also provides an excellent basis for determining whether graduate school is a meaningful next step. Given that it’s impossible to know what you want to do in 10 or 20 years, business consulting is a wise choice for a first job. So what do you think is a good starting salary for a consultant? Pursuing a career in consulting can be difficult.
For MBA graduates with the right skills, however, advice offers a good and lucrative career path and a wide variety of globally renowned companies to work for. As a consultant, you often lay the groundwork for success in whatever career you pursue after consulting. If you’ve already helped some leading organizations around the world solve complex problems, you’ll be much more marketable and sought after by other companies. There is a chance that you no longer want to be a consultant in the future.
Traveling is exhausting, the stress is overwhelming and long hours catch up with you, whatever the case may be, the background is important. First, most consulting firms reward their best performance through promotions and salary increases. And secondly, many consulting firms now offer competitive packages to retain talent by paying them better than the competition. Counseling is the most sought-after career goal for MBA students. Each year, thousands of MBA graduates compete for jobs at top consulting firms such as Bain, Deloitte, and McKinsey.
If you really value a healthy lifestyle balance or a work-life balance more than career and long-term growth potential, then consulting is not the right choice for you. Consulting also appears to be the best option for career capital among generalist, prestigious corporate jobs, so these arguments will apply more strongly to options such as investment banking, corporate law, and professional services. We argue that career capital from consulting is obviously no better than working for a nonprofit organization (even without considering the direct impact you’ll have on the nonprofit). Here’s a YouTube video from Mika Kim, a former consultant at a Big 4, in which she talks about why a consulting career was worthwhile for her personally.
We chose strategy consulting because it appears to be the most respected generalist corporate job for career capital. A career in consulting is suitable for people who strive for variety and changing environments, explains Yolanda. However, you don’t have to pursue a career as a business consultant to be an accomplished problem solver.
- Before committing to management consulting, consider directly entering priority paths, policy, startups, and other options – 80,000 Hours