Getting into Management Consulting
I am very fascinated by Management Consulting and been speaking with ex consultants. All of them are critical of it, but agree the money is good 🤤 Need advice - Do these companies take lateral hires? I have seen only IIM candidates freshly graduated being taken in I'm not IIM, but MBA with 6 years of work ex - MBB have shittiest WLB and highest money. Which comes down as per tier. Which is the best tier to get into, so I have best of both worlds (less shitty WLB with lesser money)
Who the f is saying the money is good? I see freshly minted kids from college making more at Faang and good startups working a third of the hours consultants work for.
Not true
Sure post undergrad their salaries start at 16-18LPA which is not super high.
But progression is much much better than any FAANG/Startup/Tech role along with stability.
I know of a friend who has gone from 35LPA post MBA to 60LPA within 2 years
The bull market (of 2021) may have made consulting salaries seem less attractive. But we're back to normalcy now and thats how it is
I agree with your points man and thanks for all your great replies across different threads.
But the point about freshers engineering salaries in tier 1 still stands. 2yrs after MBA means 4 years in total and I have seen tons of people from tech pull in ~60 at 4 yrs experience and this does not even account remote roles in foreign startups and HFTs where salaries start at 60-80lpa.
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EarthDragon
Stealth
a year ago
Si amigo! Move to consulting if you want work to be your life and of course money to splurge on things you don’t need :)
1) Yep, post MBA is the most common track. They take laterals from other consulting funds (MBB, even PWC, Accenture if you have expertise in a specific space).
2) Bain has better WLB than McK and BCG (a big no no in WLB). But even Bain has long working hours on weekdays.
BiryaniEnthu
Stealth
a year ago
But do they hire laterally from non consulting?
Not asking fro industry leaders/experts role
If you can tell me roughly what industry you're from, I could check with my friends
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punydrama
Stealth
a year ago
they don't hire lateral hires. fresh minted mba or iit or top ug only. if u are in tech then its possible, but again u might not be as valuable as management consultant
This isn't true at all. Know a bunch of folks making into MBBs as lateral hires. My wife recently moved to an MBB after 10 years of work ex (IIM MBA); although in all fairness I have seen folks without top tier MBA getting into MBBs too
punydrama
Stealth
a year ago
U mean a software engineer without mba can move into consulting later at mbb?
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My 2 cents:
- Proper management consulting (which fascinates us all) is mostly at MBBs only. As you go down the tiers, the quality of clients reduces which in-turn reduces your pay and benefits.
- Brand names on your CV are the only way to get in at entry level in India. This can be tags at a UG level (IIT), PG (IIM/ISB) or 1-2 years of Analyst experience at tier 2 consulting/top tech/quant firms.
- For mid career folks, one way could be to land a consulting role at tier 2 or tier 3 firms and move to their US office. From there, you can network your way to an MBB interview as the competition is comparatively easier (I could be wrong though)
- You cannot expect WLB in initial years of top-tier consulting (until you reach Principal title). It’s just not possible as you have to travel on Mondays to client site and return on Thursdays with working from base office/home on Fridays. It’s very hectic, hence the high attrition after 2-3 years. Most people only want the tag as it makes your CV standout in whatever it is that you want to pursue next.
CoolWaiver47
Stealth
a year ago
Which is considered a tier 2 consulting firm. I'm really interested to get into it. I have 10 years of work ex
S3A
Student
a year ago
Kearney, Accenture Strategy, EY Parthenon, Strategy&, A&M etc.
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