Beyond a High Salary Job - 5 Reasons Why Consulting is so Glamorous Still in 2024 | MBB
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- čas přidán 28. 07. 2024
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Why is consulting a good career? You may have encountered this question many times if you are wondering about getting into management consulting. Management consulting career roadmap is different for individuals coming from varied backgrounds. However, the reasons people want to get into consulting are very similar. Many people are interested in management consulting salary and believe that a high salary is the only good part of a management consulting job.
But beyond a high-salary job, management consulting is a good career for many other reasons. I have worked at McKinsey & Company as a consultant for over 8 years. During this time, I have interviewed many candidates for associate-level roles. Management consulting is a good career or not can be decided by looking at the rationale given by many of these people. Management consulting skills can help one a lot.
In the beginning, I have discussed the cons of management consulting. Or as we can say the dark side of management consulting, as I had done in one of my previous videos. The first negative of management consulting is that one has to endure long working hours. On top of it, there is a lot of internal comparison and competition that keeps going on within the organization as well. Also, management consultants work from Monday to Friday, almost 24x7. Since you work with a lot of people, some of them will not be good people.
Coming to the pros of management consulting, the first pro is that you will get exposure to many industries. Consultants work for a month or two on any given project. After that, you will move on to another project right away. You get exposure across many industries and domains which will help you decide which domain you would want to work in the long run. The second reason why people want to become management consultants is that there is scope for immense learning which is unmatched by everything else.
As you keep moving from industry to industry or domain to another domain, you will acquire many people management and also industry-specific skills that your counterparts working in a specific industry cannot develop.
People would want to work in the space where they have the option of brining out their best versions. The third reason why consulting is a good career in 2024 is the money involved. As we say, consulting gives you many things beyond money. However, money is still an important factor. This is because since the salary of management consultants is high, the growth associated with that salary is also on the higher side. It’s not only about where you start but also about where you can get or where you are going.
The fourth reason why consulting is glamorous is because of the exit options. Post-consulting exit options are great for many reasons. Sometimes, you don’t even have to interview for the role because the hiring managers know the potential of consultants coming from top consulting firms like McKinsey BCG Bain, or Kearney. The next benefit of becoming a management consultant is that you get to work with some of the most brilliant people coming from premiere institutes. However, you need not be from those institutes as long as you can project your expertise. Hope you find this video valuable, see you in the next one.
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I publish meaningful and valuable content on this channel. My aim is to make business news more accessible and easy to grasp. If you find my videos informative and insightful then make sure to subscribe and leave a comment. I’ll see you in the next video
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Chapters
0:00 - Intro
0:33 - Negative side of Management Consulting
1:58 - #1 Reason
3:12 - #2 Reason
4:04 - #3 Reason
4:57 - #4 Reason
6:14 - #5 Reason
9:37 - Outro - Zábava
I have personally seen that Consulting is all about saying the obvious in a fanciful manner. Men wear a power suit, ladies wear fashionable suits, a nice looking ppt, throw in a few jargons and there u go.
Hi, kudos, this video certainly provides great insight about consulting.
Great Insights - I appreciate you - very much.
The variety and impact in consulting are definitely appealing. Anyone here can share their experience?
Hi Mr. Pavan, Thanks for the great video. Could you please provide a Roadmap to enter Consulting world, the skills needed for the job and if possible also provide great sources/courses to upskilling.
I have a CZcams playlist on consulting. Please check:)
@@PavanSathiraju I will watch the videos. Thanks for the reply :)
I heard that some people are getting security clearance and doing consulting for government projects to earn more. Do you have any information about it ?
What specialisation in MBA to choose to get into Consulting sir?
When are planni g to do this session again on McKinsey case studies, please let me know!
What are the different types of specializations in mba along with its future prospects?
Choose finance for entering into consulting
ఏలా ఉన్నారు పవన్ గారు మీకు మీ కుటుంబానికి కనుమ శుభాకాంక్షలు whats your advice for the student who want consultant to kick start our career as a consultant espically tier 3 college student
Hello Devendra,
Thank you for the wishes:) And wish you as well a happy Kanuma:)
I have a youtube playlist on Consulting. Please check that
What an hypocrite. Leaving THE so called classy management consulting and talking negative about indian IT COMPANIES -note: he never whorled with one
whats the bootcamp fee? how to pay? details are not mentioned in the form.
You go down in the form, and you will find the link to payment. It is 7,699 INR
Nice thought you should join shark tank