Cookie and Privacy Settings

This website uses cookies to enable essential functions like the user login and sessions. We also use cookies and third-party tools to improve your surfing experience on preplounge.com. You can choose to activate only essential cookies or all cookies. You can always change your preference in the cookie and privacy settings. This link can also be found in the footer of the site. If you need more information, please visit our privacy policy.

Data processing in the USA: By clicking on "I accept", you also consent, in accordance with article 49 paragraph 1 sentence 1 lit. GDPR, to your data being processed in the USA (by Google LLC, Facebook Inc., LinkedIn Inc., Stripe, Paypal).

Manage settings individually I accept

Question merged

This question is read-only because it has been merged with Why did you choose management consulting?.

2

What are top reasons why people love management consulting?

Besides obvious reasons such as pay & prestige, what are top reasons why people love management consulting?

Besides obvious reasons such as pay & prestige, what are top reasons why people love management consulting?

2 answers

  • Upvotes
  • Date ascending
  • Date descending
Best Answer

You mentioned only extrinsic factors, which, although important, do not cover everything. Let's think for a moment about what type of intrinsic motivators we have at consulting:

  • Work itself - where else you can do such a challenging work, where no single day is the same? Working in the industry becomes boring, which can't be said about consulting.
  • Colleagues - you will be working with smartest people on the planet, who are, at the same time, due to the nature of the business, colleagial and friendly, unlike what you would face at some IB.
  • Growth - due to the 2 previous factors, and due to facing different people and different cultures, you are growing faster as an individual and as a professional.
  • Advancement - fast career progression due to up-or-out approach helps you stay focused.
  • Achievement - you will be impacting development of multi-billion companies, governments and entire businesses. Although you won't normally receive any credit for that outside of your firm, it can still be pleasurable to open a newspaper in the morning and read about a successful deal, where you played your part.

Considering that intrinsic motivators are more powerful, if we can believe the famous HBR article ( https://hbr.org/2003/01/one-more-time-how-do-you-motivate-employees ), it's no wonder that MC is an attractive career.

You mentioned only extrinsic factors, which, although important, do not cover everything. Let's think for a moment about what type of intrinsic motivators we have at consulting:

  • Work itself - where else you can do such a challenging work, where no single day is the same? Working in the industry becomes boring, which can't be said about consulting.
  • Colleagues - you will be working with smartest people on the planet, who are, at the same time, due to the nature of the business, colleagial and friendly, unlike what you would face at some IB.
  • Growth - due to the 2 previous factors, and due to facing different people and different cultures, you are growing faster as an individual and as a professional.
  • Advancement - fast career progression due to up-or-out approach helps you stay focused.
  • Achievement - you will be impacting development of multi-billion companies, governments and entire businesses. Although you won't normally receive any credit for that outside of your firm, it can still be pleasurable to open a newspaper in the morning and read about a successful deal, where you played your part.

Considering that intrinsic motivators are more powerful, if we can believe the famous HBR article ( https://hbr.org/2003/01/one-more-time-how-do-you-motivate-employees ), it's no wonder that MC is an attractive career.

Book a coaching with Francesco

100% Recommendation Rate

2,966 Meetings

7,142 Q&A Upvotes

USD 379 / Coaching

Hi Anonymous,

I agree with Tadeus, I would add the following points as potential elements:

  1. Broad exit opportunities – You have the option to do basically everything after few years in consulting – from starting your own venture to prestigious PE funds
  2. Companies’ investment in you – as a junior, you get the opportunity to have a sponsored MBA; as a more senior consultant, training and benefits (companies’ cars, healthcare, maternity leave, etc..)
  3. Networking – You will likely develop a powerful network in different sectors, thanks to both connections with clients and current colleagues

Best,

Francesco

Hi Anonymous,

I agree with Tadeus, I would add the following points as potential elements:

  1. Broad exit opportunities – You have the option to do basically everything after few years in consulting – from starting your own venture to prestigious PE funds
  2. Companies’ investment in you – as a junior, you get the opportunity to have a sponsored MBA; as a more senior consultant, training and benefits (companies’ cars, healthcare, maternity leave, etc..)
  3. Networking – You will likely develop a powerful network in different sectors, thanks to both connections with clients and current colleagues

Best,

Francesco

Related case(s)

MBB Final Round Case - Smart Education

Solved 7.1k times
MBB Final Round Case - Smart Education Our client is SmartBridge, a nonprofit educational institution offering face-to-face tutoring services. The client operates in the US. The mission of SmartBridge is to help as many students as possible to complete studies and prevent that they drop from the school system, in particular in disadvantaged areas. The client is considering starting operations for its services in the Chicago area. They hired us to understand if that makes sense. Due to the nonprofit regulation, SmartBridge should operate on its own in the market, without any partnership. How would you help our client?
4.6 5 298
| Rating: (4.6 / 5.0)

Our client is SmartBridge, a nonprofit educational institution offering face-to-face tutoring services. The client operates in the US. The mission of SmartBridge is to help as many students as possible to complete studies and prevent that they drop from the school system, in particular in disadvant ... Open whole case

Espresso, Whatelse?

Solved 5.8k times
Espresso, Whatelse? Espresso Whatelse is an Italian company that produces coffee and espresso machines since 1908. It is the Italian market leader and has a strong presence overall in Europe. In 2019, Espresso Whatelse has increased its revenues but it has seen declining profit margin. Your client wants to understand the root causes of this 2019 trend and how to increase its profit margin again.  
4.6 5 310
| Rating: (4.6 / 5.0)

Espresso Whatelse is an Italian company that produces coffee and espresso machines since 1908. It is the Italian market leader and has a strong presence overall in Europe. In 2019, Espresso Whatelse has increased its revenues but it has seen declining profit margin. Your client wants to understand ... Open whole case

Motivational questions – FIT interview preparation

Solved 1.7k times
Motivational questions – FIT interview preparation During this exercise, we will deep-dive in 4 of the most common Motivational questions asked in FIT interviews:   Why Consulting? Why this particular company? (McKinsey, Bain, BCG, others) Why this particular location? *Particularly relevant to people re-locating or choosing an office not in their region Why this particular specialized business function *Only relevant when not applying for a general role (e.g., McKinsey Advanced Analytics, BCG Gamma, etc.) *box-open green* *See Graph 1 – Note: "Motivational" are one of the 4 types of questions you can find in FIT interviews. *box-close* ➥ Graphs from the Integrated FIT Guide for MBB
4.5 5 49
| Rating: (4.5 / 5.0)
Difficulty: Intermediate | Style: Fit interview | Topics: Personal fit

During this exercise, we will deep-dive in 4 of the most common Motivational questions asked in FIT interviews: Why Consulting? Why this particular company? (McKinsey, Bain, BCG, others) Why this particular location? *Particularly relevant to people re-locating or choosing an office not ... Open whole case

Coronavirus Times - COVID-19 Brainteaser

Solved 1.5k times
Coronavirus Times - COVID-19 Brainteaser You and your family are faced with a challenging set of decisions. Due to coronavirus, your partner has taken a 20% paycut and you are worried you may lose your job. In addition, while daycare is still open, you are worried that sending your two children there will increase the risk of them bringing the virus back to your house, where your elderly grandparents are also staying. How would you go about thinking about this problem, and what would you recommend?
4.6 5 31
| Rating: (4.6 / 5.0)
Difficulty: Beginner | Style: Brain Teaser | Topics: Brain teaser

You and your family are faced with a challenging set of decisions. Due to coronavirus, your partner has taken a 20% paycut and you are worried you may lose your job. In addition, while daycare is still open, you are worried that sending your two children there will increase the risk of them bringing ... Open whole case

Chinese Chess - Airline Business During COVID-19

Solved 1.4k times
Chinese Chess - Airline Business During COVID-19 Sky China, a government-backed Chinese airline, has recently seen profits plummet due to COVID-19. Profits are down 80% in the months of February and March, but are showing early signs of a rebound in April.  They've brought you in to first investigate what can be done immediatedly to prevent hemorrhaging cash and surive in the short-term. They are also looking to see how the current situation can be viewed as an opportunity, and what can be done to prepare for the future. 
4.4 5 37
| Rating: (4.4 / 5.0)

Sky China, a government-backed Chinese airline, has recently seen profits plummet due to COVID-19. Profits are down 80% in the months of February and March, but are showing early signs of a rebound in April. They've brought you in to first investigate what can be done immediatedly to prevent hemor ... Open whole case