Considering consulting in Miami after my Econ undergrad—how realistic is it, how does the pay compare, will it look less competitive than NY/Chicago, and is it bad to request relocation before starting?

Question

I'm finishing undergrad next spring with an Econ major and looking to go into business/management consulting. I know all of the big firms have Miami offices but wanted to get people in the industry's thoughts on starting a career there. Is it realistic, is the pay as good as other places, and will a consulting job in Miami be seen as less competitive on a resume for future jobs (compared with NY or Chicago for example)? Does it look bad for me to ask to relocate to a specific city before starting? (I live out of state). Would love to hear everyone's thoughts.

Answer 1

As an ex-consultant and now a consulting coach, I understand the allure of starting your career in a vibrant city like Miami. Here’s a structured overview of the key points to consider:

Feasibility: While Miami isn't a traditional consulting hub like New York or Chicago, major firms like McKinsey, Bain, BCG, and the Big 4 have offices there due to its thriving economy and proximity to Latin American markets.
Compensation: Consulting firms generally offer standardized pay scales across locations, ensuring competitive salaries. However, Miami's higher cost of living may affect your disposable income.
Resume Competitiveness: The consulting industry is highly mobile. The quality of your work, clients, and impact matters more than your office location. A successful stint in Miami can be as impressive as one in New York or Chicago.
Career Aspirations: If you aim to transition to industries concentrated in certain regions (e.g., investment banking in New York), gaining experience in those hubs early on can be beneficial.
Relocation Requests: It's common to request a specific city before starting. Express your Miami preference tactfully, showing flexibility and understanding of the job’s mobile nature.

Ultimately, choose Miami if it aligns with your personal priorities and long-term career goals. With the right mindset and dedication, you can build a successful consulting career regardless of your starting location.

As your consulting coach, I’m here to support you. Feel free to reach out with any questions or for further assistance.

Answer 2

In consulting, people care more about the firm rather than the location.

Basically, if you're ex-Bain / BCG /McK / whatever the firm, it matters less whether you were Bain London or Bain Tokyo.

It's because these firms operate internationally and train their staff in the same way. So the learning experience and the skills that you develop are virtually the same.

Sharing here a link that you might find useful to read:
Expert Guide: What Do Management Consultants Do?

Best,
Cristian

Answer 3

I considered the possibility of trying consulting in Miami at some point, and did my share of networking to evaluate that option.

What I realized is that probing for the reasons to go there where much higher than in other places. They didn't have that many people and would be doing a lot of work and traveling to Latin America. Have alignment in terms of specific city, industry, or geographic preferences was quite relevant there, particular since the offices didn't have a lot of people.

Pay will be the same.