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?
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
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
Hey anonymous,
Let me just add to this conversation that in some markets there are also inhouse consultancies, that can be mapped to the Tier 1 / 2 / 3 logic, e.g. in Germany / US / China often Siemens Management Consulting (now Strategy unit of Siemens Advanta Consulting) is seen similar to a Tier 1 (MBB) consultancy with competitive salaries until the EM level.
Best
Simon