What would you say are the main differences between working for an inhouse consulting firm and a strategy consulting firm assuming they are of similar size and reputation?
What would you say are the main differences between working for an inhouse consulting firm and a strategy consulting firm assuming they are of similar size and reputation?
Hi Anonymous,
personnally I am not a fan of in-house strategy consulting opportunities, and am a bit sceptical about the rational of choosing this type of opportuntities as it seems to share the downs of each job without capturing the benefits :
1. If you are really interested in consulting, then go for a proper consulting firm
You're learning curve will be much steeper, salary growth higher, and exit opportunities better
2. If you are really interested by a specific industry, then go for either a consulting firm with strong presence in that industry or an attractive player of the industry
Both will give you more exposure and concrete experience in the industry. Being a third party consultant is sometimes an enabler for achiving a job vs. being challenges from inhouse consulting
3. If you are really interested by a specific company, then identify what are the core jobs of the company (every company has on or sevral key jobs / function) and apply directly to it
I realize this is a very personal thought and not every one can be aligned with this, but at least you will consider this to make your own opinion
Best
Benjamin
In house strategy shops are typically lead and heavily staffed by former MBB consultants. The type of work will be fairly similar but specific to your own company obviously, and assignments may last a little longer (that's debatable, there are probably exceptions). On the positive side, less travel usually. On the negative side, less training and not quite as prestigious. Both offer very good career perspectives.
There are obviously exceptions, but the below is the framework I would use:
- If you get MBB, join MBB
- If you only get a boutique or 2nd tier... I'd suggest you join consulting anyway, but not a slam dunk - especially if that internal strat shop is in the industry you want anyway
- If your choice is between internal consulting and "regulat" work, take the internal consulting.
Hope this helps
Best,
Guennael
Ex-BCG Dallas
Hi,
There is a number of differences:
Best
I agree with Guennael. A couple of more elements of distinction in the comparison between in-house and strategy consultancy at same level of reputation/size are the following:
Best,
Francesco