I just graduated college this past December and plan on starting as a full time Consultant in June. In the mean time, I thought I would start my own website/business to stay active and gain entrpreneurial experience. However, am I allowed to do this or continue when I start in June, or is starting a side hustle prohibitted?
*My website's about resume/cover letter advice
Hi,
I would highly discourage you from starting a side hustle as a full-time consultant. (If you want to do it from now till June, that's great! Just don't expect to be able to maintain it)
I'm assuming you're at a top-tier firm? If so, you need to be prepared to work 70-80 hour weeks at any point in time (not always, but often enough). You are going to be mentally and physically exhausted from work.
You need to minimize other distractions in order to succeed here....a side hustle is just too much to take out when starting out at MBB/Tier 2s.
Furthermore, in general this isn't allowed by these firms. If you're really sure about this, talk to HR beforehand if you want to continue the business once you start.
Hi there,
Just bear in mind that it will be pretty difficult to keep on working on the website while being a full-time consultant.
From a legal point of you, as long as it doesn't violate your contract, I'm prety sure you will be fine. In any case, talking to HR is the safest way to know!
If I can give you a suggestion - I would start the website and see how it goes until June - what if by June you will be able to delegate it / sell it / find a way around it? If not, the experience itself will make a good PEI.
Hope it helps! Hit me up if you have any other questions.
Cheers,
GB
Hey there,
In general, MBB have a clause in their contract that prohibits any side hustle. However, this is usually a matter of discussing it with the managing partner of your office.
If there is no overlap with your work, no impact on your work performance, or anything that could relate back negatively to the firm, chances are your website would get a green light.
In your case, is your website in any way related to applications at your own firm? This would be a definite no. If the website is more generally about resumes and cover letters it could be ok.
Long story short, talk to HR. They will discuss the next steps with you.
Cheers,
Florian
Not sure which firm you are going to join. I can tell you that it will be very close to impossible to maintain a side gig while at MBB. You are working constantly and are expected to focus on your client projects.
Legally you are not allowed to have another job while working there but no one can stop your side gig as long as it does not violate the contract you signed which clearly lays out what you can and cannot do.
(edited)
Hi there,
It depends on the contract with the particular firm you are joining. If your activity doesn’t have any overlap with the consulting activity, chances are they will allow you to continue. However, you won’t be able to continue any kind of activity that could create a conflict of interest.
Best,
Francesco
Each consultancy will have their own specific rules around this and so I would go through your employment contract and/or discuss with HR. At McKinsey, I have seen several cases from analysts to senior partners, having a side business but typically they have a passive involvement due to conflict of interest and lack of time.
Hi,
it comes down what you expect from your consulting experience and what your next steps look like:
Happy to talk in more private if you DM me on this.
Best,
Denis
Hi,
I recommend you to ask HR first.
And then... good luck with your venture.
Have fun!
Antonello
Hello!
I don´t agree with the advise that is been given before.
I think it totally makes sense for you to start this business now, it will only come with good things.
Regarding whether you can continue once you start in MBB, not sure if you legally can, but for sure it will be close to impossible because of bandwidth. Of course, depends on the scope and how it´s handled, if it´s a casual thing in the weekends could also work.
In any case, that is decision for June. For now, 100% go for it.
Hope it helps!
Cheers,
Clara
Hi,
MBB companies do not allow you to work for any other company / own any equity. You can only work for free. Alternatively, the business can be registered for your relatives / friends and you can help for free
Best
I have seen colleagues taking part in their family business or running small dropshipping businesses on the side. On the basis of that plus the upside of running a business by yourself, I'd not discourage new hires from pursuing this in parallel. It is definitely possible!
I hear you but I have to disagree (this is the great thing about a Q&A...experts can give their different opinions).
To explain, 1) The priority is to do well at MBB. If you don't do well (i.e. are distracted/overwhelmed) you're kicked out...this isn't a risk worth taking. At the very least, not worth doing this in the first year before you know what the job will be be like! 2) I've actually seen people get into legal trouble with side business at work. Ranging from getting fired to having their business literally taken away from them (because they used company resources/time to create the business). Also not a risk worth taking! (In my opinion)
All fair points. That is why I recommended to check with HR and the managing partner of the office first to get their sign-off. Other than that, very few people are ever kicked out before Junior Partner level (I can count the people I heard of in 5 years on 2 hands) because they are overwhelmed and for those that do it was definitely not the side hustle that killed their career. Let's agree to disagree I guess. :-)
Agreed :P