Is consulting a hard career?
Professionals who lack strong work ethics or who lack long working hours are generally unsuccessful in consulting. In particular, there simply aren’t many roles at top consulting firms. The reason is simple. In a single consulting project, the “hard yards,” which do not take up as much time for the analysts.
If you compare this to a law firm or an investment bank, their base cases or M%26A projects require a large number of staff hours. And that’s just to do their most basic bread-and-butter chores. You literally have to recruit so many graduates to do proofreading at a law firm and number crunching at a bank. Consulting is one of the highest-paid professions (either if you are seeking partner positions or taking on managerial positions in industry).
Since you can start without additional training, the income in comparable phases tends to be higher than that of the legal profession. On the other hand, several sources pointed out that consultants in comparable positions generally earn less than investment bankers. 8. These are also large consulting firms that focus more on business consulting, particularly strategy consulting, whereas the “Big Four” are accounting firms that also offer advice. Consulting firms take employee training seriously — most consultants receive regular feedback, mentoring opportunities, and the opportunity to seek advice from experienced consultants. Other alumni of the company and contacts from individual projects offer consultants a variety of valuable business contacts.
The typical path people see in consulting is that you work in a large consulting firm for two years and then go ahead and do whatever else you want to do, whether it’s working in a startup, or you want to work in-house at a big company and be on the client side. At the highest level, a consultant is really just someone who is an expert in something and helps other people, whether it’s a consultant helping an individual or helping an organization. One consultant who reviewed this document said that, in her experience, consultants leaving at the associate level have similar options as consultants who leave after 2-3 years of analyst work, although the number of options varies and employees are likely qualified for higher positions. In the typical presentation of consulting or in the “Big Four” companies, consultants are employed on a project for three to six months or so.
Although a significant portion of your time is spent preparing PowerPoint presentations, emails, and “normal” tasks such as creating databases, junior consultants are relatively quick to take on responsibilities and work to solve challenging business problems. The industry is divided into the “Big 3” strategy consulting firms (McKinsey, Bain, BCG), the “Big 4” professional services companies (PwC, Ernst %26 Young, Deloitte, KPMG), which primarily offer business consulting (as well as auditing and accounting), and a large number of small “boutique companies,” which often specialize in a specific situation or topic. In other consulting companies, you sometimes join as an analyst and then become a senior analyst and then as an associate consultant.