Evaluating prospective options, the plan is to focus on 4 areas:
1. Overall Consulting Experience-(client types, case work, travel, etc.)
2. Promotion-(policies, time to partner etc.)
3. Wealth Accumulation-(earning potential)
4. Exit Ops
Two key questions:
1. Other areas folks might consider important to factor?
2. Any comments/perspective on the four areas based on folks experience or knowledge?
Thanks
(edited)
Hi Anonymous,
I have answered below to your questions:
1. Overall Consulting Experience-(client types, case work, travel, etc.)
That’s something you cannot really assess upfront – it will be too dependent on each company evolution and the type of projects you will find /your fit with the company
2. Promotion-(policies, time to partner etc.)
That’s something you cannot really assess upfront – it will be too dependent on each company evolution and the type of projects you will find / your fit with the company. Remember that very few people make to partners, not necessarily for the up-or-out policy, rather to focus on different areas (own venture, private equity, better work-life balance).
3. Wealth Accumulation-(earning potential)
Bain wins, but not necessarily for the salary you would have during the consulting experience, rather for the exit opportunities
4. Exit Ops
Bain wins here for the stronger brand, in particular for private equity
5. Other areas folks might consider important to factor?
Best,
Francesco
Hi,
I'm afraid there isn't an absolute correct answer here, but I will try to provide commentary around each point from mine and many friends experiences:
Experience - this is heavily dependant on office far more than region. Offices have different cultures, industries, levels of travel, etc. For instance in Europe Scandinavian and UK offices have more relaxed culture and better hours, and southern offices in the US tend to be similar. Client types is very dependant on local industries (UK is finance heavly, Germany industrial heavy, etc.). I have personally ofund US consultants travel more, but this is just in my experience and can't guarantee by firm
Promotion - MBB typically have a slightly quicker path to partner (again in my experience), but I really wouldn't use this as a decision cirteria. Consulting has very fast progressions, and a 6 month delay really has no influence on your wider career
Earnings - US consulting salaries are much higher than Europe, MBB salaries increase at a much faster rate than tier 2 firms. If you have offers from both you should be able to see exactly how these two trends interact, but needless to say Bain charges clients higher fee's, and this money goes somewhere...
Exit Ops - I have found brand matters far more than location regarding exit ops. Especially in the US/Europe, MBB has a real premium over the market. Office will also have an influence, with SF, London, Paris and New York all especially well regarded offices
I would encourage you to consider what you want out of consulting before making a decision. Is it a two year stint to fast track your career or a path to partnership? What industries interest you most - this inflences how sensible different locations and firms are? Finally, don't underestimate the challenges of moving across the world - if you really prefer living in one place to the other you will probably enjoy wokring there more aswell
Hope this helps
Cameron
