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Leaving consulting company for a lower position?

leaving
New answer on Feb 11, 2021
9 Answers
1.0 k Views
Anonymous A asked on Feb 10, 2021

Hi All,

I have a quite tricky situation. Quite recently I have been promoted to Manager in one of the large consulting companies (not a strategy), while I have been approached by a company in a medical sector who offered me to join as a senior consultant to advise their clients (so it is not internal consulting, but sort of external consulting for their clients only). As they are offering some hefty bonuses (apparently up to 100% of the salary can be achieved in a bonus but realistically it is closer to 50%) and workload seems to be lower I started thinking that it could make sense to join them to actually earn what would be a typical Senior Manager salary in a Big4 or Accenture (approx 20% more then I am doing now as a Manager).

On the other hand, it seems that there is not much room for growth and progression as a senior consultant in such company (there is just one head of their consulting team) and I am a bit worried that it would actually harm my CV in a longer-term as recruiters may consider as I actually made a step back in my career.

What do you think? Does it ever make sense to accept an offer for a lower position if it is backed by a higher paycheck?

Thank you,

P.K.

(edited)

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Clara
Expert
Content Creator
replied on Feb 10, 2021
McKinsey | Awarded professor at Master in Management @ IE | MBA at MIT |+180 students coached | Integrated FIT Guide aut

Hello!

Congrats on your offer.

To your question, I am going to answer with more questions :)

  • What is your mid-long term goal?
  • How important is money now in this point of your career?
  • How important is work-life balance, and are you willing to sacrifise career progression for it?
  • What is the role description, scope and responsabilities in the new one, and how does it compare to the one you currently have? Not only the job title, but think of those bullets you would then include after 2 years in the CV:
    • Impact you had
    • Scope and responsability you had
    • etc
  • Which one has a bigger brand in your geography?

Hope it helps!

Cheers,

Clara

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Gaurav
Expert
Content Creator
replied on Feb 10, 2021
#1 MBB Coach(Placed 750+ in MBBs & 1250+ in Tier2)| The Only 360 coach(Ex-McKinsey + Certified Coach + Active recruiter)

Hi there,

I personally think it depends only on your idea of where you would like to be in 5 years.

Of course, the idea of working less and earning more is attractive. If you feel like you have achieved enough in consulting and can allow yourself to think about something else, about leaving - I'd go with it.

In any case, having an answer to the question above might help you decide.

Cheers,

GB

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Francesco
Expert
Content Creator
replied on Feb 11, 2021
#1 Coach for Sessions (4.500+) | 1.500+ 5-Star Reviews | Proven Success (➡ interviewoffers.com) | Ex BCG | 10Y+ Coaching

Hi P.K.,

As mentioned by others, it really depends on your long-term goals.

You can “structure” it as follows:

  • Think where you want to see yourself in 5-10 years
  • Choose the options that allows you to get there faster (faster doesn’t mean necessarily easier)

If you do so, the answer should be easy to figure out.

Personally, I would not recommend to favour a temporary gratification (eg more money today) to sacrifice a future one (eg faster career growth), but this also depends on your own goals and what is more important for you long term.

Best,

Francesco

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Ken
Expert
replied on Feb 10, 2021
Ex-McKinsey final round interviewer | Executive Coach

The thing that worries me most is what you've highlighted as the lack of opportunites to grow and progress. How recruiters see your CV is one thing but more importantly, I would ask yourself whether that's a compromise you are willing to make in terms of the role, even despite a higher salary. You can always work your way up to earning more but taking on a role where you get stuck is never a fun experience, espeically after you've had a successful consulting career so far.

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Vlad
Expert
replied on Feb 10, 2021
McKinsey / Accenture Alum / Got all BIG3 offers / Harvard Business School

Hi,

Looks like it's not worth it:

  • 20% is not a huge increase
  • External consulting does not you further growth opportunities within the copmany
  • Title is lower
  • Seems that career growth is an issue

Best

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Ian
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Content Creator
updated an answer on Feb 10, 2021
#1 BCG coach | MBB | Tier 2 | Digital, Tech, Platinion | 100% personal success rate (8/8) | 95% candidate success rate

Hi P.K.

First, you need to determine what is important to you.

Are you 1) Looking for a comfortable job, better work-life balance, and want to "cash-in" on your career to-date? Or 2) You want to rise to the top, keep progressing, and really develop further.

I.e. Do you want to be Partner/CEO one day, or cushy/cozy middle management?

There's no right choice here. I never wanted #2, but many MBBers do. It's your call :P

(edited)

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Denis
Expert
replied on Feb 10, 2021
Goldman Sachs Investment Banker NYC | Ex-Bain 5 yrs| MBA Chicago Booth | Passed > 13 MBB > 20 IB interviews

I think it sounds too risky. There must be a reason why they offer more money - that seems to be related to the higher risk, lower transparency, and fewer clear opportunities. I d not take it.

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Florian
Expert
Content Creator
replied on Feb 10, 2021
Highest-rated McKinsey coach (ratings, offers, sessions) | 500+ offers | Author of The 1% & Consulting Career Secrets

Hi there,

Focus on what is important for you in a few years from now. I experienced that many colleagues of mine actually slowed down after a few intense years of consulting and prioritized other areas of their life. No shame in that and probably the more fulfilling life in the long run :-)

Cheers,

Florian

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Antonello
Expert
Content Creator
replied on Feb 11, 2021
McKinsey | NASA | top 10 FT MBA professor for consulting interviews | 6+ years of coaching

Hi, congrats on the offer!

I confirm it only depends on your career objective. It is totally normal to do do a step back in companies where the growth is very quick. In a maximum of 2y you'll be a manager even in the consulting firm

Best,
Antonello

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Clara gave the best answer

Clara

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