Thoughts on joining consultancy firm now vs 3 YOE in industry

Question

Hi all,

Recently got offered a position as a consultant at Capgemini invent. Been working in finance transformation for the past 1.5 years for a large multinational (straight out of university, corporate finance Masters degree). Always enjoyed the combination of technology and finance. After the consulting offer my current employer offered me new position in finance transformation on international level (with a pretty huge increase in pay), project expected to last about 1.5 years.

The reason I applied to a consulting role is to improve soft skills like presenting and story telling (as I do not really develop those in my current role). The role offered at my current firm would have the benefit of getting international experience and working close to exec's, as well as working in a team with experienced ex-consultants now in the industry.

If I would go down that path at my own firm, would a switch to consulting still be feasible later on (if I feel like developing earlier mentioned skills), having around 3 YOE in an industry role? Or would making the switch now be more beneficial?

Would be glad to have your take on it :).

Have a great weekend!

Mark

Answer 1

Hi Mark,

Congrats on the offer :)

Would a switch to consulting still be feasible later on?

A switch to consulting will still be feasible with ~3 YOE. During my time in consulting, I have known consultants with up to 8-10 YOE prior to their switch to consulting (some in an expert role but some also in a generalist role).

Would making the switch now be more beneficial?

The most obvious benefit of switching now would be that you get placed on the consulting learning path earlier than switching later, and therefore develop those skills faster

My personal opinion is that working in a consulting firm is different than working for ex-consultants in corporate
Working in a consulting firm is more ideal to develop the consulting skillsets vs corporate

However, assuming that Capgemini is the only offer you've received so far, and assuming you are open to joining MBB, then I would suggest you to also consider the potential benefits of staying longer in your industry role if:

It allows you to prepare for and apply for MBB
It allows you to prepare and apply for a top MBA program (which you might use to get into MBB, or other great non-consulting career paths)

MBB is not the be-all and end-all, but the rationale for the above (partly from my own personal experience moving from Tier 2 to MBB) is:

The exit opportunities for MBB are generally distinct from other consulting firms
If you only wanted to develop soft skills and communication - then I do think at MBB the consistency of the quality of learning/instruction will be higher

Answer 2

Hi Mark,

1) If I would go down that path at my own firm, would a switch to consulting still be feasible later on (if I feel like developing earlier mentioned skills), having around 3 YOE in an industry role?

You may still join a consulting firm after 3 years. Depending on the firm you are working for and your target one, you may need an MBA to increase your chances.

2) Or would making the switch now be more beneficial?

Switching now, you are going to develop some consulting skills earlier on. I agree with Benjamin that an advantage of switching later would be the possibility to apply to other consulting firms as well as MBB.

Best,

Francesco

Answer 3

Congratulations on your offer.

Like with everything, there are pros and cons to your decision. It ultimately depends on what your goals are and where you want to be.

If you see yourself in consulting for the longer term, then the best way is to start working in consulting as soon as possible and develop the consulting skill set. A longer corporate tenure will typically not teach you these skills so you'd still start from scratch.

If you just want to have consulting on your resume to get another ("better") corporate role down the line, then maybe it makes sense to first take the corporate opportunity you have been offered already and get those experiences under your belt to see how it goes. With the huge pay raise you are mentioning, you could then also just hire a coach to work on your soft skills like presenting and story telling - consulting is not the only way to brush up on these aspects.

Answer 4

Your 20+ years of experience in financial management are highly relevant. You probably bring in-depth knowledge of fi... (read entire answer)

Your 20+ years of experience in financial management are highly relevant. You probably bring in-depth knowledge of financial processes, regulatory requirements, risk management,... (read entire answer)