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Luca

100% Empfehlungsrate

46 Meetings

2.593 Q&A Upvotes

189 USD / Coaching

5

London Consulting Industry after Brexit

Hello everyone. I am a continental European who will be starting a job in strategy consulting in London after uni. I have studied in the UK and was really excited about working in London, thought it was the place to be in Europe with the most diverse workforce, exciting projects, etc etc. However I am afraid Brexit may change all this and London will become a somewhat more regional office and less prestigious. It is particularly disappointing thinking of how hard it was to secure a job here. Also, the pay, already not the best in Europe because of how expensive London is (rent, living, etc), is now somewhat even worse relatively because of a weakened sterling.

I was wondering what your thoughts are on how Brexit will change the consulting scene in London in terms of interesting projects, type of people, prestige on your resume, compensation.. And anything else you can think of? Does it still make sense to choose London over other European offices? Is there any benefits? Will the London brand help me transition to other offices should I wish, or actually become a liability due to recent political events?

Thanks a lot,
A concerned European

Hello everyone. I am a continental European who will be starting a job in strategy consulting in London after uni. I have studied in the UK and was really excited about working in London, thought it was the place to be in Europe with the most diverse workforce, exciting projects, etc etc. However I am afraid Brexit may change all this and London will become a somewhat more regional office and less prestigious. It is particularly disappointing thinking of how hard it was to secure a job here. Also, the pay, already not the best in Europe because of how expensive London is (rent, living, etc), is now somewhat even worse relatively because of a weakened sterling.

I was wondering what your thoughts are on how Brexit will change the consulting scene in London in terms of interesting projects, type of people, prestige on your resume, compensation.. And anything else you can think of? Does it still make sense to choose London over other European offices? Is there any benefits? Will the London brand help me transition to other offices should I wish, or actually become a liability due to recent political events?

Thanks a lot,
A concerned European

5 Antworten

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Coaching mit Luca vereinbaren

100% Empfehlungsrate

46 Meetings

2.593 Q&A Upvotes

189 USD / Coaching

Hello,

I wouldn't worry so much about it, London will be still one of the most important business center in the world at least for some years. More over, if you are gonna to join a big and prestigious consulting company, you won't have any problem to change your office or your company if you will want to.

Finally consider that you could do an MBA after 2/3 years that will give you even more chances to change everything again.

Best,
Luca

Hello,

I wouldn't worry so much about it, London will be still one of the most important business center in the world at least for some years. More over, if you are gonna to join a big and prestigious consulting company, you won't have any problem to change your office or your company if you will want to.

Finally consider that you could do an MBA after 2/3 years that will give you even more chances to change everything again.

Best,
Luca

Coaching mit Vlad vereinbaren

97% Empfehlungsrate

409 Meetings

11.430 Q&A Upvotes

239 USD / Coaching

Hi,

1) The pay is already much lower compared to the other regions, so no change here I guess

2) The projects will be the same, since there were lots of local projects (FS, Retail, Healthcare)

3) Prestige is the brand, no one cares about your office

4) It did not make sense to choose London before, because of a much lower salary and tough competition (lots of candidates). So again no change

5) Again - your personal brand will help you in the transition to the other offices, not the London office. If you can legally work in Europe - you can still work there and make the connections with relevant partners

Best

Hi,

1) The pay is already much lower compared to the other regions, so no change here I guess

2) The projects will be the same, since there were lots of local projects (FS, Retail, Healthcare)

3) Prestige is the brand, no one cares about your office

4) It did not make sense to choose London before, because of a much lower salary and tough competition (lots of candidates). So again no change

5) Again - your personal brand will help you in the transition to the other offices, not the London office. If you can legally work in Europe - you can still work there and make the connections with relevant partners

Best

Thanks a lot for your answers, very comprehensive. A follow up - if it makes so little sense to work in London (even before Brexit), why are so many people applying there instead of their local/national office in your opinion? — Anonym A am 14. Feb 2020

Because there are so many people there already (schools, FS industry, etc) — Vlad am 14. Feb 2020

Also there is another side - London is one of the best places to live in (and easy for internationals) — Vlad am 14. Feb 2020

Coaching mit Thomas vereinbaren

100% Empfehlungsrate

24 Meetings

466 Q&A Upvotes

149 USD / Coaching

Hi there,

As some of the others mentioned it is unlikely to impact the consulting industry there too much. However, on the flip side, I would say there is a lot of incentive to work for offices in high growth regions. Both the salary (living standards) and career progression tend to be faster due to continues business growth.

Hi there,

As some of the others mentioned it is unlikely to impact the consulting industry there too much. However, on the flip side, I would say there is a lot of incentive to work for offices in high growth regions. Both the salary (living standards) and career progression tend to be faster due to continues business growth.

Coaching mit Antonello vereinbaren

98% Empfehlungsrate

160 Meetings

5.612 Q&A Upvotes

219 USD / Coaching

I would not worry about the short period (e.g. the first 2 years up to your MBA sponsorship). After the MBA you can go to whatever office you want.

Best,
Antonello

I would not worry about the short period (e.g. the first 2 years up to your MBA sponsorship). After the MBA you can go to whatever office you want.

Best,
Antonello

Coaching mit Clara vereinbaren

100% Empfehlungsrate

57 Meetings

15.452 Q&A Upvotes

229 USD / Coaching

Hello!

London is one of the most difficult locations in terms of number of applicants, which has made it historically a taugh office.

Furthermore, high living costs make your overall "neto" lower than other european locations. As you said, the GBP devaluating does not make this any better.

This said, I don´t believe Brexit will change much, given that we are talking about multinationals, whose prestige is not based in the ones of single offices, but the brand itself.

Hope it helps!

Cheers,

Clara

Hello!

London is one of the most difficult locations in terms of number of applicants, which has made it historically a taugh office.

Furthermore, high living costs make your overall "neto" lower than other european locations. As you said, the GBP devaluating does not make this any better.

This said, I don´t believe Brexit will change much, given that we are talking about multinationals, whose prestige is not based in the ones of single offices, but the brand itself.

Hope it helps!

Cheers,

Clara

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