Hi there, 

Indeed, not a great situation to be in. 

Realistically speaking, if you firms focuses on only one industry and you don't know it, your positioning cannot be related to your knowledge of that industry. So you have two options:

1. To focus on your transferrable skills. Figure out what were your spikes when you were working in banking and how these could turn into assets within a project team at your current employer. Present these then when you want to join a new team. 

2. As you mentioned, position yourself as a functional expert leveraging your technical knowledge from before. 

Aside from this, it also depends a bit on where you are in your career (I can't tell based on your message). If you're rather junior, don't be as stressed about the whole positioning topic. This also comes with time as your learn to navigate with the firm and you'll also learn more about their focus industry as you do more and more projects. 

If you're more senior however, then you should potentially consider switching firms to another that is more relevant for you. This way you could play to your strengths sooner. 

I wrote two articles on PrepLounge about how to navigate these sort of challenges when you're a new joiner in a firm. Hope you'll find them helpful. You can read them HERE and HERE. 

Best,
Cristian 

Hi there,

So this is the situation:

You joined a consulting firm that focuses on one area that has nothing to do with you prior field. At the same time, you're proposing two solutions that match your prior experience to projects in the same firm. I would argue that both things can't be true at the same time.

Perhaps you're looking at it from the wrong perspective since consulting isn't about knowledge, it's about skills (hence the case interview, which tests for skills, not knowledge). And perhaps more importantly, it's about a focus on strengths, not weaknesses.

Let me elaborate with a personal example: 

• McKinsey once hired me in Chile as an Associate to work on mining operations projects. Neither did I speak Spanish, nor did I know much about mining or operations (or consulting for that matter). So I developed the classic impostor syndrome and started doubting myself…
• I later realized that I wasn't hired despite my different background but because of it. I brought something to the table that nobody else did i.e. a skill set I picked up working as a geologist in the O&G industry around the globe. Sure, I had some knowledge deficits here and there, but my skills outweighed those by far.
• McKinsey didn't care as much about my weaknesses as did about  my strengths. That's why the firm employs strength-based feedback. Instead of focusing on the gaps one might have, McKinsey focuses on people's strengths so they become great at what they're already good at.

Consulting typically use a strength-based development approach, so you should start focusing on what you're good at and take it from there. Your USP i.e., the thing you'll be great at, will be shaped along the way, by engaging in different projects in different industries and finding your calling. It's a process that can be painful but is very worthwhile in terms of your development.

Hope this helps a bit. Best of luck!

Moritz

Hi there,

First of all, I am sorry to hear about this tricky situation you are in!

This is indeed an interesting question which is probably relevant for a lot of users, thus I am happy to provide my perspective on it:

• It sounds like you are in a challenging situation, but there are definitely steps you can take to try to find your unique positioning within your current firm and leverage your past experience. Here are a few ideas:
  • Leverage your functional expertise: As you mentioned, you could focus on leveraging your M&A experience and positioning yourself as a functional expert on deals-related projects. This will allow you to use your prior knowledge and skills, even if the sector is different from your previous experience.
  • Build relationships and network: Building strong relationships with your colleagues and clients within the firm can be a great way to establish your value and find opportunities to contribute.
  • Seek out learning and development opportunities: Look for opportunities to learn more about the industry and the specific sector your firm specializes in. This could involve seeking out training or development programs, or even just taking the time to learn more on your own.
  • Seek out opportunities to work on overseas projects: As you mentioned, reaching out to global HR to see if there are opportunities to work on overseas projects that are more relevant to your experience could be a good way to get more exposure and build your position within the firm.
• Overall, it may take some time and effort to find your unique positioning within your current firm, but by leveraging your functional expertise, building relationships and networking, and seeking out learning and development opportunities, you can work towards building your position and establishing your value within the company.

In case you want a more detailed discussion on what to do in your specific situation, please feel free to contact me directly.

Best,

Hagen

Hi there,

You need to remember that most people join strategy consulting without having done it before…

I've worked with Partners and “ace” consultants who were musicians, doctors, dentists, etc. in a prior life.

If your current firm focuses on just 1 sector then you kind of just have to learn that sector…

If you don't like that sector then you should find another firm.

It's really hard to help you without knowing you better and understanding their sector. 

Personally, I've switched careers from Economics/Research to IT/Development to Strategy Consulting to Data Analytics to Case Coach (and entrepreneurship).

How? I adjust and adapt and learn.

Bring the hard work, analytical skills, etc. from your past work, but also don't let that hold you back from learning anew.

If you're still struggling, get a coach!

Hi there,

here are a few thoughts:

• You chose to work for a boutique firm with a sector specialization - you now have to learn that sector
• You moved to a new country to take that job and you were (presumably) aware of the language situation - it does not make sense to request overseas staffing from HR now. Why did you even move to this new country in the first place?
• Consulting is all about encountering new situations, applying a structured thought process and methodologies to deal with uncertainty and the unknown - if you wanted to limit yourself to banking, you could have stayed in banking. The fact that the firm gave you an offer suggests that they trusted in your ability to handle new topics - prove them right
• Try to focus on acquiring the fundamental consulting skill set first before you worry about developing a USP for yourself in your new firm - get in shape to deliver efficiently on a variety of projects, then you can figure out your niche along the way

A few suggestions:

• Leverage your past expertise in M&A and wealth management. You could position yourself as an expert in this and seek out work where you can use your skills and knowledge. This will help you network and build relationships
• Definitely take on projects outside of your comfort zone. But probably don't go immediately asking to work in a different office to the one you started in. Instead, network your way to projects that are in M&A but can help you build new skills and broaden your expertise.
• Consider seeking out additional training: no harm in asking whether they have past training material on either functions / skills or anything else.

Hi there,

Q: How to overcome the disadvantage and find my unique positioning / selling point within the firm?

I would consider the following:

1. If you got a mentor in the firm, ask him/her for help – that’s exactly their role. If you didn't, I would ask your manager. Most likely, they will be willing to help. If the firm hired you despite your background not matching their focus, there is probably a reason and a way to leverage it with the right support
2. If that doesn’t work, I would check if your point (2) is applicable and see if you can provide value with the skills/specialization you already have. Most likely you will still need some internal support to understand how to do so given your background is not close to the core focus of the company
3. If that doesn’t work, and you are planning to stay in that country long-term, I would consider learning about the specific sector the firm is focusing on
4. If that’s not feasible for whatever reason, I would check with HR if there are any international opportunities matching your background (I would do this in alignment with your manager/partner)

Best,

Francesco