Week in the Life of a Consultant - Work week of a Management Consultant
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- เผยแพร่เมื่อ 10 พ.ค. 2024
- As a former McKinsey consultant, I show you a typical week in the life of a consultant at MBB firms. I talk about the work of a management consultant and discuss what MBB consulting firms (McKinsey, BCG, Bain) actually do. This is a week in my live vlog, based on how my live was when I still worked in consulting, with my experiences at Accenture and McKinsey. It shows a work week in my life as a management consultant. Are you asking yourself, what do consultants do, or specifically what do consultants at McKinsey do? This video will give you the answers, it shows the life of a consultant. I will show you, how a day in the life of a consultant looks like.
Chapters
00:00 Introduction
00:51 Monday
03:19 Pre-scheduled meetings
05:30 Tuesday
06:44 Wednesday
08:39 Thursday
10:23 Friday
11:14 Weekend
12:02 Wrap-up
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I think Mckinsey need to employ a business consulting firm to help them improve their dated work culture to help them achieve better results and a more stable and effective workforce.
;) Thanks for watching! Best, H
Loved the way you showcased the time table so precisely. Thank you !!
Thank you, appreciate it! Best, Heinrich
This was SO insightful and informative! It definitely gave me a better understanding on just what I may be getting myself into. Very well done! 👏🏼
Hi Sarah, super happy to hear that, thank you for watching!! Best, Heinrich
Nice that the value of sports is recognized. When I started my career in a consulting company I managed to close my first project that required working long hours (over 12 hours a day) only because I was regularly practicing ballroom dancing. I had enormous motivation not to let down my coaches and the dancing partner, which helped me face the stress and workload that I never faced before: I had the right motivation and energy to wake up at 5 am and go to sleep at 1 am. Moreover, physically sports help you think more effectively
Fully agree, sport can really make a difference. Thanks for watching! Best, H
I must admire you for the ability to deliver after only 4 hours of sleep. I personally can’t operate fully without a minimum of 6 hours of sleep.
@@yunush Agree with you. Surely four hours of sleep a day isn't a sustainable way of living?
Thank you so much, that was very helpful! It is so important to understand what to expect before you enter such consulting firms
Fully agree Zarina! Thank you for watching! Best, Heinrich
This is really interesting and detailed. Consulting is an awesome field so it's great that you're sharing so much info.
Fully agree. Thanks for watching and your feedback! Best, Heinrich
Thanks for sharing this. Very helpful!
Great to hear that you made time for fitness activities twice a week. 🏃♂️ From experience, I know it can be really challenging to find those hrs after long days working.
I've had times when I've stepped in to the gym at midnight for a workout, after a long shift in the office. Just need to make it a necessity.
Yes agree! Was also rather an ambition than something I was successful with every single week ;) Best! Heinrich
Excellent Video! Love your interpretation.
Thanks for watching Henry! Best, H
Very intensive... especially from Wednesday to Thursday, basically no sleep, harmful. I would prefer to work 3-4 hours extra on weekend but to have a normal sleep schedule later. Thanks
Yes indeed, can be tough. Thanks for watching! Best, H
Thank you for the great content!!
Thank YOU for watching Victor! Best, Heinrich
Great video and also some nice insights into the life of a management consultant.
Thank you for watching! Best, Heinrich
Very nice of you to give such an insight;)
Thanks! :)
Thank you Firm learning. I am about to join this industry and this seems a perfect prep and keep me mentally ready
Hi Maria, thank you for your comment. Great to hear you enjoyed the video. Lots of success to you for your start in consulting!! :) Best, Heinrich
Thank you soo much Heinrich!! Will sure give my best!! 😊
Wow.!! Such an informative video.!!
Thanks for sharing, great content
Appreciate it, thanks for watching! Best, Heinrich
Very helpful insight! Thank you.
Hi August, great to hear that - thank you! :) Best, Heinrich
@@FirmLearning I hope to make it into this great Wall Street company someday :)
Excellent video man.
Thanks for watching man! Best, H
Thank you so much for sharing this Heinrich! This is so helpful to so many people...
I am currently looking into my next career step, and consulting seems perfect despite of the obstacles. The biggest fear I have is that I won't adjust since I usually typos in my first draft and I need my sleep, but the variety of responsibilities/industries and the communication aspects of the job tempt me greatly...
Thats great to hear! Best of luck for your applications! :)
@@FirmLearning lol, let's see. Currently researching different roles that make business decisions happen in organizations like Ralph Lauren. I'm under no illusion that I am ready for MBB or Deloitte since I don't have a resume that's impressive enough.
Thanks for sharing this information with us from your experience! I’m from Perú and I would like to get a Job as a consultant soon. In the meantime, I’m preparing the Best i can. Your videos really help me a lot, even for my current job as a project manager. I have seen like 20 vids so far. Thanks again.
You are very welcome! I am glad that you enjoy the channel! Thanks for watching :)
Really detailed video, good job
Thank you Bogdan - much appreciated!! :) Best, Heinrich
Very insightful, thanks for the video. Great work ! My one question is, is this a typical work for early consultants or more senior one? Thank you
Tysm for this ❤❤
Thank YOU for watching, appreciate it! Best, Heinrich
@@FirmLearning ☺☺
Love the content thank you
Thank you for the comment!! :) Best, Heinrich
Yeah. I’ve worked as a consultant for 5 years and just remember multiple weeks you may be out of the country, on a project where the client wants you in the office on fridays, or your flying coast to coast.. I spent 2 years on a project Where I lived in a hotel 90% of the time and couch surfed the remainder. Had a storage unit for my things. It’s not glamorous. It’s not fun. You do get burnt out. However, the experience actually might be worth it
Thanks for sharing Brent! Yes, a career in consulting for sure is not always glamorous and one needs to know that before joining. Best! Heinrich
Hey, that was really some insightful and accurate work schedule explanation. I had one question regarding the regional aspect of this time schedule? How often does it vary based on the geography you are based in to?
Cheers!
Thanks for watching! Yes, some offices have a reputation to work more (Germany, Italy, Japan..) than others (Netherlands, Nordics..). It will also largely depend on the individual project and people involved though. Best, Heinrich
This is some hard work bro, when i think i work hard on fixed schedules as a first line...
Yes it can be tough, but you get used to it and it is also rewarding :) Best, Heinrich
Quite curious, has there ever been a time when your team, or someone else's team, couldn't solve the client's business problem no matter how hard and smart everybody worked? If so, how did you/they manage that? What happens in the rare times when a SteerCo meeting doesn't go well?
Hi Ivan, usually you of course make sure that before you start a project already have a concept / idea how you go about it. But of course things not always go as planned and for sure some projects are more successful than others. Some projects do have performance-based pay (especially savings projects), but the majority are fixed fee. If a SteerCo goes bad, you try to understand what the problem is and fix it :) Sometimes these things are also a lot of politics (e.g., board members opposing the project in general, independent of the quality of your work). Best, H
Expecting to work from 7am until 11pm every day it's not the way any worklife should go. That means you'll burn out. And if ANY company allows that as a norm, then think if that's what you want from your life. I've been a consultant for 12 years and I went through some busy times, especially when I was working in my dysfunctional country (Italy), but I NEVER made this becoming the standard. Aim to close everything by 6pm, if it takes until 11pm probably you're not executing your work right, or you're too understaffed. And make your hobbies/gym a priority. In the US creating a work-life balance is much easier. Overall, this video really follows (and to some extent glorifies) the stereotype of what crazy consulting life is. But I believe it's time to change it, and it starts with owning our life goals and personal career path.
Fully agree that the work-life-balance of working in consulting is often not ideal and indeed, many people decide to only do it for a couple of years for the learnings. My objective by no means is to glorify working as consultant. Instead I want to help people understand what they can realistically expect to enable them to make informed decisions whether consulting is the right path for them. Thank you for watching and sharing your perspective! best, Heinrich
I agree with the fact that working overload (in my country overload is legally over 8 hours a day) is just the result of some sort of mistakes e.g. poor planning or other. I had some colleagues, who were literally proud of the fact that they spent over 12 hours in the office every day during the week, they thought that their value as employees increased. I totally disagree: in my opinion. the valuable worker is the one, who doesn’t miss deadlines, not the one, who works a lot. Of course, it is of vital importance to set tasks that can be done without overload but with the right methodology
Great video and pretty accurate I’d say!
Thank you Shyam, good to hear! :) Best, Heinrich
Hi Heinrich. Thank you for your video. I would like to ask if there's any potential break in-between projects, especially long/intense ones?
Thanks for this deep dive Heinrich. The schedule is inline with what I have heard from others with the only exception being the Friday. I have also heard that the Associate is sometimes given the opportunity to fly in a companion or spouses if the Associate chooses to spend the weekend at client location/city instead of flying back home. Your thoughts?
Hi, whether you can fly in your partner or choose to spend the weekend client-side on the projects expense usually varies by region, because it has tax implications. The fact that the firm allows you to book hotels over the weekend for private use will be considered an income-equivalent and might need to be taxed in some countries. Therefore different offices have different roles. Best, H
Quite interesting and mostly falls in line with my experience in non-MBB consultancies.
I'd like to know, however, how does MBB structure internal governance, i.e. which meetings are there to ensure the project goes in the right way, and which tools/reports are needed/required to be done/sent every week. Keep up the good job! Thanks
Hi Bostjan, on a project-level, there is usually one Partner who has the operational responsibility for the project. He / she will be responsible for making sure the project delivers. Usually the steering takes place in the form of weekly Problem Solving sessions where the team reviews progress with the partner and the partner provides guidance. Best, Heinrich
As much as I’m attracted to trying a management consulting role and all the prestigious, the schedule is pretty insane gotta admit that.
Thanks for the amazing video! Do you know anything about the life of mbb consultants in Singapore? Do they travel every week like in this video or do most clients have regional headquarters there? Subbed!
Hi! Do not know 100%, trust there are lots of projects in Singapore but you should be ready to also travel occasionally. best to talk to some people from the local office! Best, Heinrich
@@FirmLearning i see, thanks
3:00
client interview, is when you ask some clarifying questions to the client team, for instance. as we can call: client discussion.
work team room: to get some work done.
finish at 10 pm is probably one of the better days.
4:00
internal calls: team problem solving, and internal expert call.
where your partners give input and guide.
4:50
prescheduled client meetings: jour fixe and steering committee.
jour fixe: sit with the client team for update
steerco: every second week, the most important meeting where project sponsor from the client side is there.
partner call: steerco doc, for something not doing in the steerco.
might meet the project lead from the client side.
8:00 on tuesday and wednesday, people don't have proper lunch.
8:40 it appears a bit more often that works until 1 AM.
9:00 independent of how late i worked last night, i would have 2 units of sport, it just makes me happy.
10:00 have it on standby because you have flex tariffs and reschedule the time.
10:15 thursday evening at home, just write emails and call it a day.
11:00 fun activities and maybe doing expenses
11:30 strong culture that the weekend is free.
Henrich, do you have a video or specifics on how to maybe break into consulting on the operations and implementation side of the buisness.
Hi, not yet specifically for Ops roles ( though several videos on the general interview and recruiting process ). Might pick that up in the future, thanks! Best, Heinrich
Thanks Heinrich for this quality video!
How do the work hours vary as one goes up the ladder (e.g. at Manager, Senior Manager and Partner)?
Basically the same hours
HI Heinrich, thank you very much for your videos, just started watching your videos and I have learnt a lot.
I'm quite interested in strategy/management consulting, and would like to know if you have course on problem solving for consultants. I ask because I'm also interested in the problem solving, data gathering, analysis etc. Please direct me to any course you have or you know off in this regard.
Looking forward to hearing from you. Thank you and regards
Hi, thanks for watching, happy to hear that the videos are helpful. Currently I have one main course on communication / slide writing skills (check video description or the first comment). Will probably develop more courses like that in the future :) Stay tuned! Best, Heinrich
Great videos, keep up the good work! One question I have is: at what point in your career would/should you apply as an experienced hire vs. an graduate-level job? In other words, how much experience is required to apply as an Associate vs. Analyst? And are internships etc. taken into consideration here? Thank you!
Hi Marcel, this will not only depend on the length of your work experience, but also the perceived quality / relevance. With 2-3 years of experience you can probably think about joining as an Associate vs. Analyst. With even more, you might even join as Senior Associate. Be aware though that the pressure on you will be higher if you join in a higher role (especially Senior Associate), as the promotion window to Project Lead will come rather quick and you need to be ready for that to survive the up-or-out (you have less time to develop yourself and learn to become a great consultant).
Best! Heinrich
Thank you so much for an informative description. But I've heard that there usually are long projects that may last for a few months, so how about consultants' work week during those kinda projects?
Hi Jane, yes an average project will be about 3-5 months. Schedule is still pretty similar / more or less as described in the video. Best, Heinrich
Thanks great info. Did you find it stressful? And how did you manage to have a personal life?
Hi, while I for sure found it stressful (there were ups and downs), I would not want to miss the experience, for me it was definitely worth it. Personal life happens on the weekend :) Best, Heinrich
Hey I liked your vedio a lot.I am working in KPMG India. The work culture what you mentioned in vedio is same on the papers but not on the ground 😟
Hope you guys are enjoying your work life balance
Happy to hear you liked it! All the best to you in India man. Best, H
Hi, thank you for your informative videos. In your experience, how easy or usual was it flying out already on Sunday evening ir the flights allowed? I could imagine that that could ease out the start of the week a bit, at the cost of a shorter weekend...?
Hi, yes at least at my firm this was possible no questions asked if the consultant wanted to do that (also paying for the additional hotel night). Of course, you miss the additional evening at home / with your family :) Best, Heinrich
This was very insightful!
A question though - In your experience, doesn’t your personal relations take a hit since you are mostly occupied the whole week and get only the weekend off (that too might go out sleeping and relaxing? :) )
Thanks for watching Tushar! Yes indeed, is can be tough to still stay in touch with all your friends etc. Will likely need to focus more on the inner circle :) Best! Heinrich
Hahaha at McK currently Fridays are now full work days and weekend work is very common
Hi Heinrich,
could you maybe shed a light on the travel team aspect?
Suppose your flight to the client went from Frankfurt but you want to spend the weekend in Berlin, can you just book a flight back to Berlin airport instead?
Well the time frames are prett accurate. Flydays etc. But what i want to stress is that this is not a life for everyone. As you can See the week is filled up quite bad. Your life is basically working & travelling with high-life in weekends. I did that for 3 years now and call tell you that it is somehow also bullshit. Throwing bags in a room, if its your home or Hotel room and then also on the weekend a Hotel room. I would really cancel my flat the next time i have a longtime Engagement and only live in hotels (no joke ...).
What was also brutal for me was sleep. I am totally fine with 4h-6h in Sun to Monday. But it will hit you at Tuesday or Wednesday. Honestly tue best and worst parts were then team dinners, again late hours and social torture at same point. There are weeks e.g. when you have to organize a present for family member, learn, finish a deck, sports etc ...tough. ..i couldnt do it with kids....at all
Did You worked in MBB?
Thanks for sharing! Yes, fully agree it is not for everyone. Was for sure not always easy for me as well. Definitely important to think about what you are getting yourself into before joining. Thanks for watching! Best, Heinrich
Great content!! What you are thinking will the trend go - more on the spot consulting or via videocalls/presentation - are clients accepting online meetings? Appreciate your opinion.
Hi Lukas, thank you for your comment! Do think that virtual / online meetings will become more important in the future. For me it is hart to imagine that consulting will work well without any significant personal client contact at all - but lets see what the future has in store :) Best! Heinrich
Im curious about the contract that enables those working times. Is this a all in contract or can you take time off? Are those additional hours paid?
Thanks for sharing this one so that I can understand what it looks like working at Strategy consulting firm in a non-Asian country office. Just to share little bit if you don’t mind, working hours for strategy consulting firms in Asia is more demanding from what you have shared it (I think in general). In my case, I have been constantly working from 9.00 AM to 01.00/ 02.00 AM on daily basis (Monday to Friday - yes it applies on Friday too). It will get worse if you get DD project (based on my experience). Yet, I have strict norm applying to myself that I don’t work on weekends, but somehow I usually get anxious during Sunday evening and started checking emails. As years went by, I started thinking whether I want to have daily life like this in longer term.
Yes makes sense, thanks for sharing! Best, Heinrich
Thanks for sharing.
I have a question, how to manage frequent routine medical examinations, like dentist if you have braces or ophthalmologist if you have glasses?
Hi Amadeo, you usually try to do them on a Friday. Then you can talk to your project lead and will usually be able to make it work that you start working a bit later on the Friday etc. - Best! Heinrich
Hi Heinrich, könntest du mal ein Video machen, wo du genau zeigst wie man ein komplexes Problem so strukturiert, dass es in kleinen mundgerechten Arbeitspaketen aufgeteilt wird? Habe letztens ein Video mit einem ehemaligen Engagement Manager von McK gesehen, er meinte das wäre der wichtigste Skill den er aus der Beratung mitgenommen hat.
Hi! Ja in der Tat ein wichtiger Skill, danke für die Idee habe es mir aufgeschrieben für mögliche zukünftige Videos! LG, H
I actually will never understand why the most consultants stand up at 4 or 5 in the morning to catch a flight. At 98% of the times I did/do fly out at Sunday (mostly evening) so I’m fresh in mind at Monday for the customer. … every really successful negotiator I know told me this as one of the most important tipps, arrive early and more important fresh (minded).
Hi Heinrich, have you still been with McKinsey when the Covid-19 pandemic started? If so, how did you experience the change from travelling to clients to working from home? Doesn't that save so much time (and money) while generating a similar outcome?
Thanks for the interesting content, keep it up!
Hi Florian, I left the firm end of last year. From colleagues I hear that some clients still work in the office, then you are required to do business as usual as well. For the rest, yes wfh saves lots of time but on the other hand, close client contact is also quite important for a good consulting engagement imo. Lets see how this develops over the next months.. Best, H
Hi Heinrich, I am currently studying industrial engineering at a Hochschule in Bavaria, and after researching for weeks I've become extremely interested in McKinsey. I then stumbled upon your videos about McKinsey and am trying to write a cover letter using the tips you have given in your previous videos. I wanted to ask if there is a chance for an international bachelors student (who speaks basic Deutsch) to land an internship at McKinsey? If so, can you please share some tips on writing a good cover letter to win over the recruiting manager? Your videos have been so useful and has made me to seriously consider attaining a separate degree in consultancy. :p Thank you.
Hi, thanks for watching! Yes, internationals can apply, though you will be required to have business-level German skills to work in the German office. Lots of success to you!! Best, Heinrich
Wait. Why do you only eat lunch on Monday and Thursday?? Do you not get hungry on the other days?
Hi, as I said in the video, sometimes you can quickly pick something up and eat it during your workon these days. If your calendar is blocked with meetings, sometimes hard to find the time. Best! H
What software did you use to create this calendar?
A year or so ago I met a guy in Lamu in Kenya who told me he was a McKinsey consultant working in oil and gas in Nigeria. Pretty tough posting. He was 32. I enquired as to his billing rate. 2 thousand dollars. It’s a lot of money, but it’s one of the more difficult places you’ll ever work in so maybe not so unreasonable.
Per hour.
Oh.
;) Thanks for watching! Best, Heinrich
As an ex-McKer, I can attest this is very real and representative. Esp. check-ins and outs
Thanks for sharing, always great to hear to have fellow alumni watching :) Best! Heinrich
Hi Heinrich,
I was wondering, since it seems there's so many meetings in the scedule, how do you manage to do the actual work e.g. data analysis / creating the deck?
1. Do you guys work crazy fast on the laptop and maximize work hours in the working room? (Looking at the gray timeslots, there's only time for like 2-4 hours a day XD)
Or
2. Do you extend the work outside of your defined timeframe if it's not finished? E.g. 6 am in the morning, or extend work in the evening until 3 a.m.?
Danke schön für die Erklärung
It is a mix of the two. Unfortunately it is correct that lots of the actual work gets pushed after 6/7pm once your clients leave the office and you have time to get the work done. Best! Heinrich
Hello heinrich, I've started looking into consulting primarily healthcare consulting. I wanted to ask how or where should I start my career to get to a healthcare consultant role? The only thing I think I'm worried about with this job is travel and reduction in family time
Hi Zain, the large MBB firms do plenty of work in Pharma, you could therefore just go down the regular MBB consulting path. Besides that I trust there are many specialized niche / boutique healthcare firms, but do not know this space in detail. Lots of success! Best, H
Hey! This is a great video! I'm an Senior Analyst in a market research and strategy advisory firm. We do a lot of strategic advisory but not consulting per say. I'm looking to break into consulting somehow. I have decent academics. No MBA. What according to you are the top 5 things MBB look for in a potential candidate? Also, have you seen folks from consulting-associated fields like market research/advisory moving into consulting? Any pattern you noticed there?
Top things they look out for is: Academic excellence / intellectual aptitude, leadership experience in extracurriculars and work (e.g., leading teams), for experienced hires, relevant domain knowledge and strategic / conceptual nature of their prior work. Regarding research, McK also has dedicated research & analytics teams to support the consultants, there might be some opportunities here for you as well. Lots of success to you!! Best, Heinrich
Thanks for the reply!
To all the graduates considering going into consulting after their studies please don't do it. The schedule is filled with pretend work. I think Heinrichs schedule is quite accurate and it just shows that most of the time is spent in unnecessary meetings and putting on a show for the client. Don't get me wrong. There's a lot of value that can be added by consultants but 80% of the work done or the billed hours is a waste of time and money and everybody who works in consulting and takes a step back knows it. It is just one of those things that nobody really likes to talk about. Once the project ends you are out and probably nothing has changed.
If you really want to learn about business try starting your own no matter how small it might be or start working for your local businesses and just be curious and willing to listen and learn how businesses actually work. Ask the owners or executives how their business works, which challenges they're facing and you will learn much more about "real" business than jetting in to a client, feeling important on that 6 am plane and actually achieving nothing. Life is about creating, figuring things out and being true to yourself.
Thanks for sharing Matty! Best, Heinrich
Hello, I wanted to know if this is also the same in Bain And BCG too? The tasks and structure is almost similar? And what happens if your client is in the same city or neighbouring city? How likely is that?
From what I have heard, it is quite comparable. Yes, if your client is in your city, you have a "home project" and can stay at home / no travel. Best! H
Hey Heinrich, could you pls provide us a video about your student life ? It’s not a secret that it’s required to have really good grades to join MBB after Bachelors degree. How was your study routine ? How did you manage it though you did a dual degree ? Are there any “secrets” to success that many personal development coaches want to sell us or does it mainly depend on hard work ? How do you stay motivated? I’m in the second semester and my grades are okay but I know I have to push it to very good/ excellent to get in MBB.
I would also love to hear about this! I'm starting my first semester now, and am getting prepared for the whirlwind of recruiting about to begin.
Hi, thanks for the suggestion! It is indeed an important topic, might pick that up for one of my future videos. Best! Heinrich
Super, danke Heinrich. Außerdem gefällt mir dein Kanal ziemlich gut. Ich denke, wenn du durchziehst sind die 100K Abos mehr als realistisch. Weiter so ! 👍
Obviously nothing beats earnings per hour of successful investor or company owner,
but among workers, despite of its huge salary, if it's divided by the long hours, consultant working in big firm surprisingly doesn't earn that high here in Japan...
Hourly income (and total income) as freelance consultant can be much higher...
But you’ll kinda lose the support system of a large firm behind you
Yes, if you just take hourly pay, especially for the junior levels you will find other jobs that give you a better result for that KPI ;) Best, H
Hi Heinrich, what was the guideline if a you wanted to stay in your client's city for the weekend instead of flying home, or going some other city in a similar proximity to your home? Could you fly Sunday evening instead of Monday? (might prefer that sometimes to get fully up and running by Monday morning)
For me the average expenses of flyday //2 flydays could be reimbursed for weekend stay/ offsite leisure stay. Depends on what average is:D ......sunday sometimes an option, but project lead ofc needed arguments. If you re the budget guy /lead of course you do such stuff because you can ....
Rules differ by company but also by country, as there are often local tax implications (e.g., if the company pays you a hotel over the weekend instead of a flight, this might need to be taxed as an employee benefit). In Germany, it was usually OK to already fly in on Sunday (and then also get the additional hotel night), but the firm did not cover our expenses to stay over the weekend in the client city. But of course, many grey areas.. ;) Best, H
I was based out of the London office and often did projects in various parts of the world (including South Africa, Australia and all over the US). On the weekends, I would rarely fly back to London and instead either stayed in the project city or flew somewhere "nearby" that was a much closer flight than home. e.g., when working in Perth I'd fly to Sydney or Singapore for the weekend. The firm paid for flights, hotels, food, rental car etc. This was a few years ago and I believe that some tax rules have changed since then.
Somehow it seems to me that the actual result creating work phases come a little bit short? Or were all the mentioned meetings justifiable as they create enough results?
Hi Daniel, yes this is exactly the problem. The days are full with meetings, and even if you have 1-2 hours in between, you will sit in a busy team room with lots of people and clients walking in and out the whole time, difficult to concentrate and do quality work. This is why the "real" work is pushed to the evenings and then often leads to long nights. Best! Heinrich
What are the work hours at smaller firms like Kearney, Strat&, Deloitte like?
Not too different, for Big 4 should be slightly better. In these small firms it will even more differ by partner / office / geography. Best, H
Really great stuff Heinrich. Thanks for uploading your content. It pretty accurately represents the realities of being a sleep deprived consultant! Are you open for 1:1 discussions? I'm a "recovering" strategy consultant started a Corp strategy role in a Fortune 100 tech company. Would love to get your point of view on a couple of topics. Who knows, maybe I can share a thing or two that's helpful for you. Gib mal Bescheid! -Francisco
Thanks, sure thing! Best to hit me up with a DM on Instagram (@firmlearning). Best, H
@@FirmLearning Thanks... just sent you a note via Insta DM.
Any chance of covering a key part of consulting: Business Development
Good idea, might pick that up for future videos, thanks! Best, Heinrich
How did you manage your family life under conditions of the high volume of the workload? When I started working in a consulting company my closest relatives literally started to disgrace my company, my work, and personally me because of the volume of my workload. Stress from the family was as significant as the stress from the workload (even though the workload seemed absolutely enormous for me when I started the job) what resulted in a colossal mental breakdown at some point, what lead to certain losses in terms of my results at work, education, sports, personal life. What did you do and what would you recommend in such situations? I will be enormously grateful for a reply!!!
Was lucky enough that my family did not put additional pressure on me to work fewer hours. But of course it can still be tough. Lots of success to you for the future! Best, H
You work there for 2 years and go in-house, nobody who wants WLB stay in MBB...
Heinrich, is there any chance to do online part-time study (master or bachelor) for additional knowledge while working as a management consultant?
The school could be stanford, ASU, master degree programs in coursera, etc
Would there be sufficient time for such work load from part-time studies where you will not be interrupted suddenly?
Hi! Of course nothing is impossible, though most people would definitely struggle with such a workload in parallel to consulting. Probably rather not recommended. Best! Heinrich
In MBB firms in Germany, what are the languages spoken during client meets and among team discussions? Is it English or German or Mixed? Also what languages are used while preparing slides and explaining them?
Hi! Depends, usually German unless clients are participating that only speak english :) language of documents is also defined by client policies
Does it stay fairly consistent even as you gain seniority? Or do hours get a bit more relaxed?
Hi, no hours will not get better usually unless you are a senior partner :) Best! Heinrich
If I stay up working till 1am, and don’t get back to the hotel to sleep until 2am, there’s no way I am waking up at 6am the next morning to run.
Why did you leave the firm? Was it the workload? I am thinking about a career change . So I really am interested in consulting or sales rep... I just wondered why you left...
Looking back, do you think there were any parts ofwork that you could either:
1) Automate to free up time?
2) Make more efficient - e.eg. having a pre-steerco presentation meeting with partner even before doing anything to get his buy-in and avoid abortive work?
Hi Albert, thank you for your comment. For sure, many things looking back could have been optimized. And of course, a good project lead will try to align early on with the partner to avoid these types of last minute changes. However, experience shows that these things often do not go as planned. Maybe different partners are on the project with different opinions, than it can be extra hard to align the two of them first. Or the client has some last minute changes he wants to see. Or you get some new data few days before the SteerCo that contains valuable insights you want to include in the deck etc. ... Best! Heinrich
Hi, nice summary. Quick question: how recurring is this week? Is this every week or some weeks? Maybe a mixture of consulting from the office and outstation work? Just wanted to know the intensity.
Thanks! Yes, it is quite recurring, spending the week at the client is standard procedure (at least until early this year..) Best, H
What do you think of Integration Consulting Firm?
Hello heinrich does this schedule apply to mckinsey branch in asia too ??
There might be some changes by office / culture, but in general yes. Best, H
hey heinrich, did you feel like wasting your 20's working at mck? like stressfull life and no work-life balance sleep deprivation. basically your first 4 days of week was like full-day of work.
It for sure was an intense time, but you get used to it pretty quickly. I learned a lot from it and therefore would not want to miss it. But for sure there are sacrifices. Best, H
Is German the medium of communication as a consultant in Germany? Is it possible to work there as a foreign national who cannot speak German
Hi, yes most companies speak German in Germany. Most firms indeed require Business-level German skills. Best, H
I am surprised that weekend is spaced out, I think Asia has much more extreme work week.
Indeed there might be differences by office, though in my experience also in Asia the weekends were free.. Best! Heinrich
Hey, ich hoffe ich gehe richtig mit der Annahme das du deutsch sprechen kannst😅 Sehr interessantes Video 😊 In Deutschland darf man ja glaube ich nur 48 Stunden (bin noch am studieren und daher bin ich mir nicht so sicher) in der Woche maximal arbeiten aber ich denke mal, dass du auf mehr in der Woche kommst. Wie funktioniert das dann ? Arbeitest du einfach mehr nicht abrechenbare Stunden?
Hi Marcel, bin kein Experte was Arbeitsrecht angeht. Diese Gesetze sind aber m.W. ab einem gewissen Level ("leitender Angestellter" etc.), für das auch das Gehaltsniveau zur Einschätzung herangezogen wird, nur noch eingeschränkt einschlägig. LG, H
Hiya!
Can I ask you, is all management job involves travelling?
I am studying business Management degree and planning to study CIMA after but I have family and not willing to travel, I study to have work and life balance job:0 I am shocked how this is so far away from what I thought it is about?!
Hi Brigitta, yes most classical consulting jobs with the big firms involve traveling to the client from Monday to Thursday. Based on the firm and your preferences you might be able to focus more on local clients to reduce travel, but this will usually not always be possible. Of course, at the moment due to the current restriction, most consultants work from home. It remais to be seen how this develops in the future. Best, Heinrich
Advisory guys are the Top Businessmen! no experiance how to run an own business, but their PP presentations are always good designed)))))
;) Thanks for watching! Best, H
On thursday we can go to our home or not??plz reply sir
Hi ... I heard in your video and from others that consulting with big firms is really stressful since you don't have a normal work load or expectations, working until midnight, sleep deprivation, no times for family and simply the money is good! Do you agree with that? How can one have such a strict time limitations and have a family or kids?! How can you keep up like until retirement?! It's not healthy and I heard poeple get in to get some resume and cash and experience in consulting, but leave after a couple of years. Please 🥺🙏 tell us about such perspectives....if u agree or what is your observations and understanding.... Thanks 👍 danke
Hi Kam, thanks for sharing. Yes the job for sure can be stressful. From Monday to Thursday you will be out of town (in most cases) and have only limited time for your family. It is indeed quite common to only stay a couple of years for the learnings and then leave. This is also what I did :) Best! Heinrich
@@FirmLearning Hi Heinrich, interesting you should say that. I'd very much like to know what it is that you learned in consulting, and where you can take that knowledge. What would be a "follow-up" career after consulting? Apart from becoming a TH-camr ;) or creating your own consulting firm.
I suppose most people will only be in consulting for a span of 3-10 years. So it would be very interesting to know where your skills are appreciated afterwards.
deine Hemden sind gut geschnitten :D Wo hast du die gekauft?
Die meisten sind von van Laack! LG, Heinrich
what about vacations, mate? are thet common? Or is a tradition to skyp them? Thanks
no, vacations are actually no problem in consulting, as you can do them between projects without anyone relying on you. Best, H
Dankeschön
Danke DIR fürs Zuschauen und den Kommentar :) LG! Heinrich
How do you find the time to answer to everyone?;-)
Indeed it takes quite some time, but want to continue doing it as long as it is manageable :) Best, Heinrich
Ooh yeah, love enjoying the sunrise from 40th floor 🥳😭
;) Thanks for watching! Best, Heinrich
This sounds insanely stressful and bounded.
It is not that bad but yes, you work a lot. Best! Heinrich
@@FirmLearning fair enough. It's hard to get a gauge for the intensity of the work based on just seeing a schedule. I'd love to see a random hourly emotional status check-in from someone working this job. That'd be super interesting to me.
@@FirmLearning That's why the consulting firms are insanely selective on their hiring process. These jobs requires high EQ and IQ, you need to be super adaptable and work fast. Of course, physical and mental health are also critical for the job. I personally cannot handle it. 🤣🤣
Question, is it efficient way of working?
Hi Andrea, no, working late hours is for sure not efficient! Though you still get lots of things done, and sometimes it is just necessary to meet the deadlines, prepare meetings in time etc. Best! Heinrich
Hi.
I am planning to do Masters in Management from INSEAD.
Have you worked with people from INSEAD at MBB firms?
Hi Nishant, yes, INSEAD is one of the largest feeders into MBB (specifically the MBA program, but trust the MiM is great as well). Best! Heinrich
@@FirmLearning thanks you.
Hi~I am a student attending middle school in Korea.My dream is to be a management consultant, so I was looking for various videos and I saw this video!
I'm writing this comment because I have a question.I'm wondering if the MBB companies in the foreign country and MBB companies in Korea have the same annual salary and culture.
I'd like to know the answer to this question, but there's no way to know it, so I can use this translator to make things weird.I would really appreciate it if you could reply.Thank you for reading the long story.Have a nice day:)
Hi,
It is true that there are regional differences regarding workload (e.g., the Nordics are supposed to work less than Germany or Italy), quite frankly I do not know the exact situation in Korea. The salaries differ as well by country and will be adapted to the local competitive situation.
Best! Heinrich
@@FirmLearning Thank you for your reply!