Are consulting exit opportunities driven more by firm prestige or industry expertise?

People will tell you “it depends” because that’s the polite answer and it lets everyone defend their own path. If you strip it down to outcomes, MBB is just a better asset for exits.

First, brand is a filter. A lot of hiring isn’t a deep evaluation of your true skill, it’s speed + risk management. MBB reduces perceived risk, so you get more first-round calls, faster processes, and more forgiveness when your profile isn’t a perfect match. That matters whether you’re going into tech, corp strategy, growth, PE, or even something random where the hiring manager just wants “someone sharp.”

Second, MBB gives you range. The “universal pass” thing is exaggerated, but the direction is right: you can pivot across industries and functions more easily because your story is “I can learn fast and drive results,” not “I know this one niche.” With boutiques, the story is tighter - and tight stories travel less.

Third, the signal lasts. Two years after a boutique, you still have to explain what the firm is. Two years after MBB, you don’t. Ten years later, people still recognize it and it still buys you trust, especially with senior stakeholders who don’t have time to decode your background.

Where boutiques win is very specific: when the job is basically “we need someone who already speaks this industry language on day one” and the hiring manager values domain pattern-recognition over general problem-solving. That’s real, but it’s narrow. And even there, MBB + a clear industry narrative often competes fine.

So if your goal is maximum choice, maximum upside, and minimum friction, MBB is the best bet. Boutique is great if you’re intentionally trading breadth for depth because you’re locked on one lane and want to compound there.

Hi there,

This is a very good question, and the honest answer is: both brand and expertise matter — but at different stages and for different exits.

Early in your career (first 3–5 years), firm prestige carries disproportionate weight, especially for broad exits like strategy roles, PE, VC, or top-tier corporate programs. MBB’s “universal pass” effect is real because hiring managers use it as a signal of screening and training quality.

However, as you get more senior, industry depth becomes increasingly valuable. If you’ve spent several years in a strong healthcare or energy boutique, you may actually be better positioned for:

• Strategy roles inside that industry
• Corporate development in that sector
• Operational or transformation leadership roles
• Specialist investor or advisory positions

In those cases, domain credibility can outweigh brand.

Where boutiques can feel limiting is when you want to pivot outside your niche. A generalist MBB background makes cross-industry movement easier, especially early on. A niche boutique background makes you more differentiated but less flexible.

Best,

Evelina

Hello, 

Answer from someone who spent 3.5 years in a TMT boutique (Altman Solon) and later landed a role at Netflix — winning over MBB generalists in the process.

Short answer: both brand and industry expertise matter — but brand wins 8/10 times.

In most cases, MBB prestige carries broader optionality. The brand recognition is powerful and often acts as a shortcut in screening. It signals general problem-solving excellence, and that “gold standard” reputation opens many doors across industries.

However, there are important exceptions.

In my case, deep expertise in TMT (telco & media) was likely decisive. I had worked on 15+ commercial and technical due diligence projects for top-tier PE clients. I understood the industry dynamics at a very granular level. For a role in media/streaming, that specialization created an edge over generalists.

That said, if I had tried to pivot into e-commerce or fintech, it would have been significantly harder compared to an MBB generalist. Specialized boutiques give you depth — but often at the cost of breadth.

So the trade-off is clear:

• MBB → maximum flexibility across industries
• Boutique → strong positioning within a specific niche
• Boutique can also be a stepping stone — I’ve seen several people switch to MBB after 1–2 years.

One practical reality: when I say “I worked at Altman Solon,” many people don’t recognize the name — even though we advised top PE funds on highly demanding projects. Brand visibility matters in the market.

So choose based on your long-term goal:

• If you want optionality → MBB is statistically safer.
• If you are very clear on a specific industry → a strong boutique can be a powerful accelerator.

As a coach, I’m here to help you — we can assess your long-term positioning strategy, evaluate trade-offs between brand and specialization, and design a path that maximizes your exit opportunities.

Both matter, but they matter for different types of exits.

The MBB brand advantage

The "universal pass" thing is real but a bit overstated. MBB opens a lot of doors, especially for generalist roles like corporate strategy, product, chief of staff, PE/VC, or general management. Recruiters know the brand and trust you have been trained well. It reduces their risk. For roles where the hiring manager doesn't know exactly what skills they need, the MBB name signals general capability.

But here is what people miss. The brand gets you the interview, not the job. Once you are in the room, you still need to show you can do the work. And the further you get into your career, the less the brand carries you. Ten years out, nobody cares where you started. They care what you have actually done.

The boutique expertise advantage

Deep industry expertise from a boutique does matter, especially for senior or specialist roles. If you want to be VP of Strategy at a healthcare company, having spent years advising healthcare clients means you actually know the industry. The players, the regulations, the economics. A generalist MBB person might get the interview too, but you can speak the language in a way they cannot.

The trade-off is your range is narrower. You won't pivot easily from healthcare consulting to fintech. The doors that open are more specific.

How to think about it

• If you want maximum optionality and are not sure what is next, MBB gives you more flexibility.
• If you already know what industry you want to build your career in, a strong boutique in that space can be just as good or better. Deeper relationships, deeper knowledge, more credible profile for senior roles in that field.
• The worst spot is a boutique without strong expertise or brand. That limits you without giving you the upside of either path.

Your exit is not just about firm name or expertise. It is also about the work you did, the relationships you built, and how well you tell your story. Two people from the same firm can have completely different options based on the projects they chose and the network they built.

That is a fantastic question and you are spot on with your suspicion. The "universal pass" to exit opportunities is heavily weighted by firm prestige, but the outcome isn’t binary. It comes down to whether you prioritize breadth or depth in your career pivot.

Here is the reality of how the exit market sees these two profiles: MBB generalists have maximum optionality. The brand name is the ultimate insurance policy. If you want to pivot into top-tier private equity, venture capital, or a pure Corporate Strategy role at a diversified conglomerate, the MBB brand will nearly always open the door faster than deep expertise from a lesser-known firm. You are being hired for your raw horsepower, not your industry IP.

Conversely, deep industry expertise at a specialized boutique gives you the fast track to operational leadership within that niche. If your goal is specifically to become the Head of Digital Transformation at a major energy utility or the VP of M&A at a specific fintech company, you often have a substantial advantage over the MBB generalist. Boutique consultants are not applying for a strategy role; they are applying for a leadership role where they bring immediately deployable intellectual property and a network already established in that specific sector. They can often skip a level or two in the hierarchy because their knowledge is ready-to-use.

In short: Firm prestige (MBB) buys you the freedom to move laterally into high-status, generalist roles (e.g., PE, Corporate Strategy). Industry expertise (Boutique) buys you accelerated advancement into very specific, operational leadership roles (e.g., VP of X Sector) within your defined sector. Know which pivot you want to make before you sign the offer.

All the best with your decision.

Both brand and expertise go hand in hand. If you have both, you're golden. 

Basically, when they recruit you for the brand, they recruit you for what the brand is meant to guarantee: a certain set of skills, a proven track record of excellence

When they recruit you for the expertise, they recruit you for the specialised knowledge you have and they want. 

They are not mutually exclusive, but they rather compound each other. 

You should try to take a step back and figure out what is important for you and where you would want to be in x years from now. 

Then work from there to identify how you can best 'accumulate' brand and expertise to get there. 

If you want some help with this, feel free to reach out.

Best,
Cristian

hey there :)

Great question. The reality is that prestige and expertise both play a role, just in different ways and at different moments in your career.

In the first few years, brand tends to matter more. Especially for broad exits like strategy, PE, VC or competitive corporate programs, a top tier name acts as a strong signal of training and selectivity. That is where the universal pass perception mainly comes from.

With more seniority, industry depth becomes increasingly important. If you built several years of focused experience in a strong healthcare or energy boutique, that credibility can position you very well for strategy, corporate development or leadership roles within that specific sector. In those situations, domain expertise can outweigh pure brand recognition.

The trade off appears when you want to switch industries. A generalist background from a top firm often allows more flexibility early on, while a niche background makes you more differentiated but also more specialized.

If you want to share your context, happy to think it through with you.

best,
Alessa :)

Great question — and the honest answer is: both matter, but in different ways.

Firm prestige tends to widen your optionality. A strong brand (especially MBB) signals general problem-solving ability, which keeps more doors open across industries and roles.

Industry expertise, on the other hand, increases your depth and credibility within a specific space. If you’ve spent years in healthcare, energy, or fintech, you may be significantly more competitive for senior roles in that industry than a generalist with a top-tier brand.

A simple way to think about it:

• Prestige = breadth of exits
• Expertise = depth and positioning for targeted roles

Boutique consultants with strong specialization often transition very well into strategy, operations, or leadership roles within their niche — sometimes faster than generalists — because they bring context, network, and domain fluency.

Where prestige helps more is when you want to pivot industries, enter PE/VC, or move into highly competitive general management tracks.

In the end, exits are driven less by logo alone and more by:

• Your project exposure
• The responsibilities you held
• The narrative you build around your experience

Brand opens doors. Expertise wins specific rooms.