Frage gesperrt

Diese Frage ist schreibgeschützt, da sie mit folgender Frage zusammengefügt wurde: Why did you choose management consulting?.

2

What are top reasons why people love management consulting?

Besides obvious reasons such as pay & prestige, what are top reasons why people love management consulting?

Besides obvious reasons such as pay & prestige, what are top reasons why people love management consulting?

2 Antworten

  • Upvotes
  • Datum aufsteigend
  • Datum absteigend
Beste Antwort

You mentioned only extrinsic factors, which, although important, do not cover everything. Let's think for a moment about what type of intrinsic motivators we have at consulting:

  • Work itself - where else you can do such a challenging work, where no single day is the same? Working in the industry becomes boring, which can't be said about consulting.
  • Colleagues - you will be working with smartest people on the planet, who are, at the same time, due to the nature of the business, colleagial and friendly, unlike what you would face at some IB.
  • Growth - due to the 2 previous factors, and due to facing different people and different cultures, you are growing faster as an individual and as a professional.
  • Advancement - fast career progression due to up-or-out approach helps you stay focused.
  • Achievement - you will be impacting development of multi-billion companies, governments and entire businesses. Although you won't normally receive any credit for that outside of your firm, it can still be pleasurable to open a newspaper in the morning and read about a successful deal, where you played your part.

Considering that intrinsic motivators are more powerful, if we can believe the famous HBR article ( https://hbr.org/2003/01/one-more-time-how-do-you-motivate-employees ), it's no wonder that MC is an attractive career.

You mentioned only extrinsic factors, which, although important, do not cover everything. Let's think for a moment about what type of intrinsic motivators we have at consulting:

  • Work itself - where else you can do such a challenging work, where no single day is the same? Working in the industry becomes boring, which can't be said about consulting.
  • Colleagues - you will be working with smartest people on the planet, who are, at the same time, due to the nature of the business, colleagial and friendly, unlike what you would face at some IB.
  • Growth - due to the 2 previous factors, and due to facing different people and different cultures, you are growing faster as an individual and as a professional.
  • Advancement - fast career progression due to up-or-out approach helps you stay focused.
  • Achievement - you will be impacting development of multi-billion companies, governments and entire businesses. Although you won't normally receive any credit for that outside of your firm, it can still be pleasurable to open a newspaper in the morning and read about a successful deal, where you played your part.

Considering that intrinsic motivators are more powerful, if we can believe the famous HBR article ( https://hbr.org/2003/01/one-more-time-how-do-you-motivate-employees ), it's no wonder that MC is an attractive career.

Coaching mit Francesco vereinbaren

100% Empfehlungsrate

2.844 Meetings

5.075 Q&A Upvotes

349 USD / Coaching

Hi Anonymous,

I agree with Tadeus, I would add the following points as potential elements:

  1. Broad exit opportunities – You have the option to do basically everything after few years in consulting – from starting your own venture to prestigious PE funds
  2. Companies’ investment in you – as a junior, you get the opportunity to have a sponsored MBA; as a more senior consultant, training and benefits (companies’ cars, healthcare, maternity leave, etc..)
  3. Networking – You will likely develop a powerful network in different sectors, thanks to both connections with clients and current colleagues

Best,

Francesco

Hi Anonymous,

I agree with Tadeus, I would add the following points as potential elements:

  1. Broad exit opportunities – You have the option to do basically everything after few years in consulting – from starting your own venture to prestigious PE funds
  2. Companies’ investment in you – as a junior, you get the opportunity to have a sponsored MBA; as a more senior consultant, training and benefits (companies’ cars, healthcare, maternity leave, etc..)
  3. Networking – You will likely develop a powerful network in different sectors, thanks to both connections with clients and current colleagues

Best,

Francesco

Verwandte Cases

Espresso, Whatelse?

1,4 Tsd. mal gelöst
Espresso, Whatelse? Espresso Whatelse is an Italian company that produces coffee and espresso machines since 1908. It is the Italian market leader and has a strong presence overall in Europe. In 2019, Espresso Whatelse has increased its revenues but it has seen declining profit margin. Your client wants to understand the root causes of this 2019 trend and how to increase its profit margin again.  
4.7 5 56
| Bewertung: (4.7 / 5.0)

Espresso Whatelse is an Italian company that produces coffee and espresso machines since 1908. It is the Italian market leader and has a strong presence overall in Europe. In 2019, Espresso Whatelse has increased its revenues but it has seen declining profit margin. Your client wants to understand ... Ganzen Case öffnen

Coronavirus Times - COVID-19 Brainteaser

300+ mal gelöst
Coronavirus Times - COVID-19 Brainteaser You and your family are faced with a challenging set of decisions. Due to coronavirus, your partner has taken a 20% paycut and you are worried you may lose your job. In addition, while daycare is still open, you are worried that sending your two children there will increase the risk of them bringing the virus back to your house, where your elderly grandparents are also staying. How would you go about thinking about this problem, and what would you recommend?
4.5 5 19
| Bewertung: (4.5 / 5.0)
Schwierigkeit: Anfänger | Stil: Brainteaser | Themen: Brainteaser

You and your family are faced with a challenging set of decisions. Due to coronavirus, your partner has taken a 20% paycut and you are worried you may lose your job. In addition, while daycare is still open, you are worried that sending your two children there will increase the risk of them bringing ... Ganzen Case öffnen

Chinese Chess - Airline Business During COVID-19

200+ mal gelöst
Chinese Chess - Airline Business During COVID-19 Sky China, a government-backed Chinese airline, has recently seen profits plummet due to COVID-19. Profits are down 80% in the months of February and March, but are showing early signs of a rebound in April.  They've brought you in to first investigate what can be done immediatedly to prevent hemorrhaging cash and surive in the short-term. They are also looking to see how the current situation can be viewed as an opportunity, and what can be done to prepare for the future. 
4.4 5 10
| Bewertung: (4.4 / 5.0)

Sky China, a government-backed Chinese airline, has recently seen profits plummet due to COVID-19. Profits are down 80% in the months of February and March, but are showing early signs of a rebound in April. They've brought you in to first investigate what can be done immediatedly to prevent hemor ... Ganzen Case öffnen

Hot Wheels

200+ mal gelöst
Hot Wheels Problem definition: Our client is Korean Car Parts (KCP), a multi-national original equipment manufacturer (OEM) of car parts based in Korea. They've recently seen a decline in profits and have brought us in to understand how to address this falling profitability.
4.3 5 9
| Bewertung: (4.3 / 5.0)

Problem definition: Our client is Korean Car Parts (KCP), a multi-national original equipment manufacturer (OEM) of car parts based in Korea. They've recently seen a decline in profits and have brought us in to understand how to address this falling profitability. Ganzen Case öffnen

Smart Education

100+ mal gelöst
Smart Education Your client is SmartBridge, a nonprofit educational institution offering face-to-face tutoring services. The client operates in the US. The mission of SmartBridge is to help as many students as possible to complete studies and prevent that they drop from the school system, in particular in disadvantaged areas. The client is considering starting operations for its services in the Chicago area. They hired us to understand if that makes sense. Due to the nonprofit regulation, SmartBridge should operate on its own in the market, without any partnership. How would you help our client?
4.5 5 10
| Bewertung: (4.5 / 5.0)

Your client is SmartBridge, a nonprofit educational institution offering face-to-face tutoring services. The client operates in the US. The mission of SmartBridge is to help as many students as possible to complete studies and prevent that they drop from the school system, in particular in disadvan ... Ganzen Case öffnen