Hey,

I see you're facing a crucial career decision, and your background and experience offer some exciting paths. Let's break down your options:

Stay on the Big 4 Path: It's a stable choice, but ask if it aligns with your prestige and career progression goals in the long run.

Transition to MBB: This can address your prestige and money concerns but might mean starting fresh. It's worth it if MBB's reputation is a top priority.

Move to an Industry Executive Role: A different route, and you should consider if it's the direction you want to take your career.

Pivot to Private Equity: An enticing path, leveraging your strategy experience. It might be unconventional, but with your drive, you can stand out.

My advice? Stay while prepping for MBB. This way, you maximize your current role and still plan for future transitions. And don't forget, career paths can take unexpected turns.

If you want to discuss this more or need guidance on making your decision, let's chat over coffee.

Best, Frederic ☕

Hi,

Thanks for the detailed context and for sharing your situation.

I'll give my take on the various options based on your key criteria. 

1. Stay the course
   • This sounds like the most stable option to get to a decent salary in the short-mid term given where you are now
   • But you will need to be okay to sacrifice/not hae the prestige of MBB or Finance/IB
2. Transition to MBB
   • IMO, becoming a Partner in MBB is still the most risk-free way of becoming a top decile earner in any country
   • Assuming you make Partner, MBB will pay higher than Big 4 as well as industry in the long term, but lower than Finance/PE
   • Switch to PE investment role is extremely unlikely once you are a Manager/Principal in consulting (I worked in BCG's PE practice) → they normally take much more junior roles, and for Partner level hires will only hire you into the Ops Partner role (rarely investment)
   • Lastly there is also still a chance (although not as high vs switching now) if you switch as a lateral Partner. I've seen this happen for commercially successful Big4/T2 partners but for very specific industries
3. Transition to Executive level industry role
   • People normally take this role to trade off money/prestige with time and balance which have become more important to them at a specific stage (e.g. starting a family)
4. Pivot to Finance/PE
   • You could try, but a few questions → are you willing to put in the same hours/lifestyle as the 21-22 y.o. fresh graduate?
   • Is Finance/PE a long-term goal or

So I have given some thoughts but not a clear answer yet on what I think to be the best option, because that will really depend on how you weigh each of the 3 criteria that's important for you. 

• If you are talking about some sort of ‘risk adjusted’ money goal, then I would say staying at your current role is arguably the ‘safest’ option
• If you are talking about long-term highest potential for money, then it will of course be IB/PE
  • Career progression to me is of a concern because frankly if you stick to one path enough you will progress eventually
  • The bigger question is whether you will actually want and can stay the course for IB/PE, which is IMO alot more risky than consulting
    • E.g. it is MUCH harder to make Partner at PE vs consulting

So i think there are 2 things you could do that will be helpful for yourself (and for us to give you a sharper POV)

1. Sharpen your criteria
   • Weigh and rank each of the 3 criteria - force rank it if you have to
   • Try and quantify them as far as possible
     • Money: this is the most straightforward one
       • Project what you think you'd need in the future based on lifestyle, family etc
       • This becomes the ‘objective’ benchmark or bar to weigh the money factor of the various options
     • Career progression: I would suggest you try and have a sense of the parameters here. Is there a certain milestone by a certain age that you define as a must-have etc?
2. Try and chart out your expected (or ideal) path of your life which includes both personal and professional trajectories
   • The reason this is important is because this will give a holistic view of your different options
   • Once you overlay the ‘average’ or ‘likely’ trajectory of a career path with your personal trajectory, you may start to see some further trade-offs or conflicts that you might face
     • E.g. you start a family when you are still an Associate at IB/PE, versus a Partner where arguably your day-to-day control on your time will be significantly higher

Happy to have a more detailed chat if you'd like - I left consulting in a Principal role and many of my peers (consulting and non consulting) also had simliar thoughts to you.

Hope this helps!

(editiert)

Hi there,

At a critical juncture in your career where the decision impacts your future, why not invest in a professional to help you make the right decision?

Love the comments from the other people here, but, honestly, a Q&A will not do justice to a serious career decision!

I highly recommend investing in 1-2 sessions with a career coach to make sure you make the right choice!

I really empathise with your situation.

Sounds like you have quite a complex arrangement going on. 

Especially due to the family situation with you supporting financially your parents, I wouldn't make any rushed judgements. I would keep the boat steady. A few weeks, months, won't make a huge difference to your career. 

In parallel however, I would recommend you work with a career coach or therapist. Though starting with the latter would make most sense. The point would be to a place of clarity over who you are and what you want to achieve. Until you have this clear goal in mind, brainstorming options for ‘paths’ make little sense. 

But hold in there. Nothing lasts forever. Not even the bad things. 

Best,
Cristian

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Hello, I understand that you're at a crossroads in your career and seeking guidance on how to channel your energy and make the best decisions for your future. It's commendable that you're ambitious and fully committed to advancing your career in the next five years.

Considering your current situation and motivations, I would recommend taking a step back and reflecting on a few key aspects:

Personal Values and Interests: While prestige, money, and career progression are important factors, it's also crucial to identify your personal values and interests. What truly excites and motivates you? What kind of work or industry aligns with your passions? Exploring these aspects can help you find a career path that brings fulfillment and satisfaction beyond external factors.

Long-Term Financial Planning: Given your responsibility to provide financial support to your parents and your desire for a better future for your own family, it's important to consider long-term financial planning. Assess your current financial situation and explore opportunities that offer stability, growth, and potential for higher earnings. This could involve considering industries or roles that are known for higher compensation or exploring avenues for additional income streams.

Skill Development and Networking: To make up for past decisions and catch up in terms of career options, focus on continuous skill development and building a strong professional network. Identify areas where you can enhance your expertise and seek out opportunities to gain relevant experience. Networking with professionals in your desired field or industry can open doors to new opportunities and provide valuable guidance.

Seek Mentorship and Guidance: Consider seeking mentorship from experienced professionals who can provide guidance and support as you navigate your career choices. They can offer insights based on their own experiences and help you make informed decisions.

Remember, career progression is not solely determined by the prestige of a company or the speed of advancement. It's important to find a path that aligns with your values, interests, and long-term goals. Take the time to explore different industries, roles, and opportunities that resonate with you.

If you need further personalized guidance or have specific questions, feel free to reach out. I'm here to support you in navigating your career journey.