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Vlad

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London Consulting Industry after Brexit

Hello everyone. I am a continental European who will be starting a job in strategy consulting in London after uni. I have studied in the UK and was really excited about working in London, thought it was the place to be in Europe with the most diverse workforce, exciting projects, etc etc. However I am afraid Brexit may change all this and London will become a somewhat more regional office and less prestigious. It is particularly disappointing thinking of how hard it was to secure a job here. Also, the pay, already not the best in Europe because of how expensive London is (rent, living, etc), is now somewhat even worse relatively because of a weakened sterling.

I was wondering what your thoughts are on how Brexit will change the consulting scene in London in terms of interesting projects, type of people, prestige on your resume, compensation.. And anything else you can think of? Does it still make sense to choose London over other European offices? Is there any benefits? Will the London brand help me transition to other offices should I wish, or actually become a liability due to recent political events?

Thanks a lot,
A concerned European

Hello everyone. I am a continental European who will be starting a job in strategy consulting in London after uni. I have studied in the UK and was really excited about working in London, thought it was the place to be in Europe with the most diverse workforce, exciting projects, etc etc. However I am afraid Brexit may change all this and London will become a somewhat more regional office and less prestigious. It is particularly disappointing thinking of how hard it was to secure a job here. Also, the pay, already not the best in Europe because of how expensive London is (rent, living, etc), is now somewhat even worse relatively because of a weakened sterling.

I was wondering what your thoughts are on how Brexit will change the consulting scene in London in terms of interesting projects, type of people, prestige on your resume, compensation.. And anything else you can think of? Does it still make sense to choose London over other European offices? Is there any benefits? Will the London brand help me transition to other offices should I wish, or actually become a liability due to recent political events?

Thanks a lot,
A concerned European

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Book a coaching with Vlad

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Hi,

1) The pay is already much lower compared to the other regions, so no change here I guess

2) The projects will be the same, since there were lots of local projects (FS, Retail, Healthcare)

3) Prestige is the brand, no one cares about your office

4) It did not make sense to choose London before, because of a much lower salary and tough competition (lots of candidates). So again no change

5) Again - your personal brand will help you in the transition to the other offices, not the London office. If you can legally work in Europe - you can still work there and make the connections with relevant partners

Best

Hi,

1) The pay is already much lower compared to the other regions, so no change here I guess

2) The projects will be the same, since there were lots of local projects (FS, Retail, Healthcare)

3) Prestige is the brand, no one cares about your office

4) It did not make sense to choose London before, because of a much lower salary and tough competition (lots of candidates). So again no change

5) Again - your personal brand will help you in the transition to the other offices, not the London office. If you can legally work in Europe - you can still work there and make the connections with relevant partners

Best

Thanks a lot for your answers, very comprehensive. A follow up - if it makes so little sense to work in London (even before Brexit), why are so many people applying there instead of their local/national office in your opinion? — Anonymous A on Feb 14, 2020

Because there are so many people there already (schools, FS industry, etc) — Vlad on Feb 14, 2020

Also there is another side - London is one of the best places to live in (and easy for internationals) — Vlad on Feb 14, 2020

Book a coaching with Antonello

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I would not worry about the short period (e.g. the first 2 years up to your MBA sponsorship). After the MBA you can go to whatever office you want.

Best,
Antonello

I would not worry about the short period (e.g. the first 2 years up to your MBA sponsorship). After the MBA you can go to whatever office you want.

Best,
Antonello

Book a coaching with Clara

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Hello!

London is one of the most difficult locations in terms of number of applicants, which has made it historically a taugh office.

Furthermore, high living costs make your overall "neto" lower than other european locations. As you said, the GBP devaluating does not make this any better.

This said, I don´t believe Brexit will change much, given that we are talking about multinationals, whose prestige is not based in the ones of single offices, but the brand itself.

Hope it helps!

Cheers,

Clara

Hello!

London is one of the most difficult locations in terms of number of applicants, which has made it historically a taugh office.

Furthermore, high living costs make your overall "neto" lower than other european locations. As you said, the GBP devaluating does not make this any better.

This said, I don´t believe Brexit will change much, given that we are talking about multinationals, whose prestige is not based in the ones of single offices, but the brand itself.

Hope it helps!

Cheers,

Clara