Should I take offer from a consulting firm?

Question

Hello guys!

I am currently working on a corporate firm (have been working here for close to 5 yrs), and just recently I got an offer from Simon Kucher. At the same time, I am going to submit my application for MBA (I have GMAT score >700 so I will be applying to top school).

At this point I do want to learn a lot and experience different industries and functions, which consulting firm provides. (vs my corporate job where I will keep doing the same thing for 2-3 years). However, there will be close to 50% pay cut if I decide to take the offer, as my corporate experiences do not really bring much value in their opinion.

So, seeking your opinion here, especially from experienced professionals, on what I should do. Below are what I believe I do have as options:

1. Take offer from Simon Kucher and still apply for MBA

2. Stick with my current company with 50% higher pay and apply for MBA

3. Take offer from Simon Kucher and go for MBB in 1-2 yrs time (is this possible?) - forget about MBA entirely.

Could you guys give me some advice please? Much appreciated!!

Answer 1

Hey there,

Based on the information you provided I'd aim either for option 2 or create another option for yourself:

keep the current job and apply for the MBA
apply for MBB directly. Why are not considering this?

My definite advice would be not to take a consulting job with a tier-3 firm that pays 50% less than what you currently make. This is bad in the present and won't have any meaningful impact on your resume for future opportunities.

Cheers,

Florian

Answer 2

Definitely don't take the job LOL. Wtf 50% pay cut?

In the end, life is about what you do and how much you enjoy it and the tangible cash you earn. The prestige of where you work should ONLY matter with regard to exit opportunities that can provide you with higher pay / better WLB. I'm at McKinsey but I would be a fool to not leave to work at the most unprestigious company (McDonalds, Waste Management, etc.) if they offered a role with better pay / WLB.

Why are you care this much about prestige (whether B-school or MBB)? It's 100% not worth going to Simon Kutcher just to go to MBB for a 50% pay cut. If you're not getting sponsored for top MBA and no financial aid with the sole purpose of going to MBB - it's also a terrible investment because even Harvard/Stanford are not a guarantee to MBB. Do the MBA only if you think you will genuinely enjoy it and it will benefit your career (more than your investment) whether or not you end up at MBB.

Answer 3

Hi there,

I worked for SKP before moving to MBB.

A few thoughts you should consider before making decisions:

1/ SKP usually doesnt sponsor MBAs so if you join you most likely will need to ask for LOA and sponsor it yourself.

2/ Event though SKP works across industries and topics, they tend to work in sylos, so depending on what office you will be joining you most likely will focus on something. Also, ~50 to 65% of their projects are pricing related so dont expect to do much strategy projects there.

3/ For you to reach your current salary at SKP it will take you 5+ years easily. Pay increase per promotion plus bonus bump is quite limited. Imagining you are most likely being hired as Consultant Level 4 (or maybe 3?) you will need to reach Director level to make your current salary.

This being said, you need to decide what is best for you :)

Answer 4

Stick with current job and apply for MBA. You can change after. 50% pay cut for SKP is not worth it. If this was MBB or a BIG4/Accenture, you could have given it serious thought.

Answer 5

Hi there,

Congrats on the offer!

That said, I have to agree with the others.

Either negotiate the offer up significantly or don't take it. Wait for the next (better) opportunity...which could be the MBA or MBB (why not apply to both?)