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Consulting seems to be hiring people who don't know much about consulting to provide advice. And they aren't alone in the hotel rooms... that's the opportunity for the gang bangs. Basically, its an opportunity to get a lot of strange when you're out of town and really drill out some holes. Then you go to work tired and BS through some power point to people who couldn't care less about whether you know what you're talking about. Consulting.
Sounds like it’s for already well connected nepo babies to siphon cash from their dad’s friends companies. Only capitalism would allow such a useless ‘job’ to flourish.
I worked as a consultant for 10 years and I enjoyed the lifestyle, until I got married and had my first child. From my experience consulting is not compatible with family life. It was interesting that most of my senior colleagues were divorced. I got out in time :)
@@samalldredge2038 I live in New Zealand so was studyign conjoint (Finance and Economics for business and science). But I applied for summer internships and got experience for that (12 weeks from November to Feb)
Same thing happened to my brother. He was a consultant at McKinsey then a partner and he was married to the love of his life with two kids but eventually they got divorced 😔
If you are good at fluffing and Bsing and also giving the impression that you do more work than you actually do then Consulting is for you!... If you can use fancy words and gimicks then consulting is for you.. In all seriousness there are a lot of good consultants but most of these firms basically over charge and over inflate what they actually provide a company..
@@lawschoolpro seriously. wtf is an undergraduate going to tell a group of people that have been in the business for years? "so my teacher just taught me this thing...."
my dad worked as consultant for like 20 years and he actually enjoyed it because he was a workholic but he had nooo personal life everything was work and like after 20 years he got burned out and opened a restaurant in a remote location tells you much about the job
Being a consultant myself, having experience of Big 4, i must say that this video is really informative for those who want to know what consulting business is and what big and giant consulting firms do to serve clients in different domains, such as Compliance, Finance, Risk Management, Technology, FIs,, and Other Advisory etc
I am an undergraduate student aiming myself to become a consultant for the big firms but what would you say was lacking in this video? As someone who have experienced the Big 4, I am eager to hear from you.
⏱Timestamps⏱ 0:00 - Introduction 1:09 - Consulting Firm Rankings 2:27 - What You Do 4:05 - Lifestyle and Hours 5:29 - Hierarchy and Compensation 6:59 - Figuring out if Consulting is for You
my dads a consultant. ive asked him what he actually does, he explains it to me, i still have no idea. i saw this video in my recommended and decided to watch it, i still have no idea what he does. its just a fake job im convinced lol
Consulting has a lot of work and departments that collaborate with each other. The problem is, if the execs or business owners don't implement the formulated business recommendation; the planning and effort becomes useless, which is why the general perception of a consultant shows as less work when in fact its up to the business to enforce consistent implementation of that business strategy.
I worked for Oliver Wyman and it is a fantastic company, very pro work-life balance and within the company there were a lot of social programs and the people working there are just wonderful, and I was in the internal administration side.
@@parlocosizarathustra By internal admin, I meant that I was the executive assistant to 3 partners. I was the one who scheduled all day to day activities. I was part of the major meetings within a project and then had to review the projects before they were turned in. I was pretty aware of everything.
@@rodrigozamo yeah being aware is different from doing things. EA usually follow 9-7 working hours (of course there are exceptions). Take a random sample of consultants and ask them the average workload in terms of hours. Bet is going to be close to 60-70 up to 90
Remember too the big 4 are mostly focused on audit and tax work so in this area they are tier 1. I also know several people who only stayed at mckinsey for a few years as partners until they got really tired of travel. The money is great but they are paying you a lot of your time on the road... not the life for everyone.
I work at Deloitte and they have their hands in a lot of pies, they're honestly great at every project they undertake, M&A, Tech Consulting, Supply chain etc
@@HarshvardhanKanthode Hi. I am a CA aspirant in India. Can you share your experience of working in Deloitte? Because most of my peers are in audit and taxation division. So wanted to know about the consulting services departments.
Nice video. Few points: Accenture strategy and consulting doesn’t do tech implementation, this is done in technology and operations. I think this is a key difference compared to big 4 (direct experience seen in both firms). Would add Monitor to tier 2, Parthenon, Monitor, Strategy& are the same, strategy branch of Big 4. Lastly, Simon Kucher is not really a boutique anymore and in Europe is extremely strong
As a consultant the information provided in this video is mostly correct. During downtime you are usually training for certifications to become more valuable to clients.
additionally, when you join in on a project as a consultant, everyone will expect you to handle the big workloads by yourself. If you are not working on a project, you normally develop some new topics within the consultancy. Speaking as a German consultant.
Just wanted to clarify a few things: BCG was the first of MBB to up base salaries to 100k for undergraduates, and McKinsey was next to follow suit. I believe Bain is still at 90k, though. As of almost the last decade, BCG has typically been the first to up salary for varying reasons (one maybe being to differentiate for cross-offers). Also, BCG's associate to consultant timeline was only 2 years, not 3, and I'm not sure if this is for some offices in NA or more worldwide, but as of this past year they've changed it to a 21-month timeline (instead of 2 years). Slight nitpick, but it allows quicker advancement to consultant than McKinsey and Bain (although McKinsey does have the BA to EM direct promote for the top performers which allows them to skip a whole level). Just thought I'd mention those things!
@@DannyT24 thanks for mentioning that. When one raises salaries the others tend to raise theirs quite soon after. I don't think they'd ever be materially different in compensation for too long. People tend to forget that MBB are far more similar to each other than they are different.
Agreed. BCG timeline is 2 years at every level -- Associate --> Consultant --> Project Leader --> Principal --> Partner --> MDP/Managing Director & Partner (equity)
In downtown Boston, Bain is right across the tiny, yet major historic one-way street from Deloitte. During lunch breaks we stand on the opposite sides of the street, face off...and tumbleweed rolls by. . .
got a position in consulting, im a senior rn. Weekends are usually fair game for work... lots of other youtube videos on consulting also mention working on weekends
also rare for bcg according to my friend (only 1 or 2 weekends from 2-3 years of work). while i was at deloitte, there was zero weekend work according to FT employees. so not sure where brian is working
True. It's not necessarily that they ask you to work on the weekends...but sometimes that just ends up being the most comfortable time to catch up on tasks you couldn't finish during the week.
Consultants do work weekends. In your other videos you stated that I Banking only is an entry ticket to PE and VC. Here you say something different. The reason why BCG and Bain are top ranked as desirable companies is because that dedicate a team to maximize those rankings as if it is a case team objective.
Consulting is a good career while you are young and before you get burnout, I worked In consulting at Deloitte it was brutal, but it landed me a better job so it was worthit, now I am married and spend less time traveling and more time dedicated to my household
Just wanted to know that does Deloitte provide any sector specific consulting or do they take up every project? As we are a startup and building a b2c consumer brand we would have required consulting in customer segregation and building a supply chain
Consultant here. It may be worth mentioning that Federal consultants have a much better WLB than their commercial counterparts. Albeit for lower total compensation typically. Think 40-50 hour per week. Contracts are also much longer and slow-burning. It’s not the quick turnaround 1-3 months you often see on the commercial side. This may be an avenue for aspiring consultants who still want to guard their personal lives.
@@abdulsunny2893 consultants who’s clients are government agencies instead of the private sector. Federal employees typically work a solid 40 hour work week because they have an establish “tour of duty”. That being said, having clients like that reflects on our work life balance.
I work for KPMG in IT Consulting in germany and my experience is vastly different than what you described. I work 40 hours a week, sometimes 43. 98% is WFH.
@@matirijo mostly yes it is, but people are open to sacrificing their time for that top dollar. I've seen people earning 6 figures 2-3 years in, this may not be possible in Germany unless you have a decade of experience
Currently consulting on two businesses. One operating out of the USA and foreign country and the other regional. Fix everything for investors and expansions and new markets. I am currently starting a company that will transition into a full-time position managing both of these.
I watch several TH-cam videos on how to trade in the stock market but haven't made any head start because they are either talking some gibberish or sharing their story of how they made it and I do not want to make mistakes by taking risks in my own hands
@@Patricia-Margaret Alice Marie Coraggio her trading strategies is working for me for more than a year now and I’m making good profit from the stock market and she's 100% honest, reputable and trustworthy...
Just had 2 months of BCG consulting and was so bad. They added nothing to the use case we needed help. We basically just guide them to confirm what we already knew and put their seal of approval on a power point to show management. No value added just need their reputation to confirm something because if it's you saying it it's now worth nothing but if it's a named consultant it's gold. So sad
As a former MBB consultant, while I agree with your sentiment, I believe companies that decide to onboard consulting firms should understand why they decide to do so in the first place; quite frankly if the company itself or the management team is delivering value to a satisfactory standard there is no need for a consulting 'seal of approval'. In addition, the reason why companies are willing to pay top dollars for consulting service & why the consulting industry is such a large and profitable industry is because companies need this 'seal of approval'; if the companies are capable and credible in the industry, there is no need for the 'seal' and thus the entire consulting industry~
@@damanchan6220 companies need it essentially to outsource market research, because consulting firms have a lot of competitive and market data given their breadth of clients and projects. No, companies don’t rely on consulting firms in anyway for their strategic opinions.
To clarify, Bain Cap is just one of dozens of funds that Bain serves in its Private Equity diligence practice. Bain and Bain Cap's relationship is not much different than Bain's relationship with any other mega fund.
I did a lot of Consultancy-based modules for my University degree. I got on really well with it and was a high achiever... but I can't disregard that a lot of it is just BS. Oftentimes you are telling a company stuff they already know, or giving them suggestions and strategy for stuff they are already doing... it all felt a little substance-less and hollow ?
@@oneword3576 yeah absolutely. Consultants are often used as echo chambers etc. but that doesn’t necessarily make the work the consultant has to undertake interesting, in fact I’d say the opposite
Great video overall! I work at an MBB and wanted to flag that the hierarchy timelines are incorrect the lower levels (for sure at McKinsey + BCG, likely incorrect elsewhere). The timeline from entry level (associate at BCG, analyst at McKinsey) to manager (project leader at BCG, EM at McKinsey) are 3 - 4 years instead of 6. For example, you might spend 2 years as an associate, 2 years as a consultant, and then be promoted to manager. 6 years would never happen.
I love the long list of Consulting areas. Thank you for sharing your expertise. Greetings from an independent consultant. It gives me a lot of freedom and life balance after 20+ years of experience working for various companies. According to HBR: "The vast majority of independent consultants (90%) in our survey reported that they are satisfied with working in this way, and our data indicates that they are more satisfied with their current professional life than our employed consultants. They are also successful. Most are meeting their target days and earning more or at least the same as when they were employed, despite working fewer days. Independents also rate their current work quality as higher compared with when they were at traditional consulting firms - 91% said it offers better value for money for clients and two-thirds said their recommendations are more likely to be implemented."
great video! I would love to know how one can start learning the skills needed for consulting excluding the syllabus you are taught in b-schools. Thanks!
Is it possible to make a switch from a IT consultant to tech-roles like SDE, SWE of a product based company? If possible what are the challenges one might face?
Great video ! But I slightly differ on Accenture. I’ve worked for Accenture Strategy & Consulting : they don’t do implementation projects. Accenture Technology does technology implementation. Accenture S&C is a front line strategy & consulting firm which engages with C- suites in shaping their strategy.
Hey Ben, I don't think you saw my comment on your previous video so I just wanted to say I'm glad you're continuing the career related videos on this channel. Also, if you don't mind, I wanted to ask if you edit your own videos? If so, which software do you use to aniamte the slides? You've inspired me to start creating content!
That is so weird for me to read. Because i cant imagine or concieve how can one feel fullfilled working like that, but that is just me and the way i feel. I hope you get your dreams and that job!
This was very informative and you’re very intellectual and well-spoken! Thanks for giving me more context to consulting. I’m a college student pursuing a degree in business to become a consultant
I did two summer internships during university, at two different big 4s. Whilst the staff were super friendly, I always weighed the family factors against it. During my third year I completed another internship at a bank and found the lifestyle, work culture a lot better. For some, they love the culture of big4 and consulting. Me personally, I just felt that I never was fitting in with others.
I think this video conveys information that is generally accurate for pre-manager levels at consulting firms. Might be good to clarify that. Some stuff like number of projects handled at one time changes, there is a clear expectation of participating in sales, relationship building etc. these points will help people making decisions for those levels. Maybe another video specifically focused on this.
@@felipeabe3063 It really depends. I've not had to travel that much but in general, my overall average flying was around 60k miles a year (this also includes personal travel which can be long international trips as well). This was all of course pre-covid. I haven't been on a plane for work since March 2020. There really isn't a rule that a certain level of folks will travel more than the others. Like right now, partners are probably traveling a lot more than rest of the staff. In projects where there is regular travel required, partners might not travel as much as the team does, some do, some don't. Hope this helped!
Boys and girls, take note: study computer science or engineering! These fields give you strong, transferable skills and open doors to exciting, future-proof careers in tech, AI, robotics, and more. Consulting might sound glamorous, but it’s a burnout-heavy path with limited growth unless you love endless presentations and pleasing clients. Build skills that matter-choose tech or engineering!
Hey ben what are the skills we required to become a consultant? Also every consultant works 50-7 0 hrs? Also how one can decide if consultanting is made or not? Please tell other types of consultanting also?
I’m more than happy to discover this channel. I need to thank you for your time for this, particularly a fantastic watch!! I liked every little bit of it and I have subscribed you to look at new posts all the time.
I've interned in a 4PL consultancy company, the assessment for suppliers and clients is a breeze but what takes a toll on me is the damn man hours needed to make PPT presentations and if your boss does not like it you have to start all over again.
this is wonderful video, thank you for sharing. I am stepping into the consultancy for the 1st time and there are loads to learn. really appreciate your work. thank you.
I've worked in supply chain for multiple international companies for 15 years, up to director position. Every time we had consultants come in and sell some solution to us, we'd right away asked them if they would implement it and how much would it cost. It has never worked out, either because what they proposed was too complex, too unrealistic, too expensive or too ambitious. Or a combination of above mentioned. So my biased opinion about consulting guys - they sell overpriced powerpoint presentations basically ))
the Cons are the reason I should try Consulting... I like to be lonely, I hate to stick down same home town, I hate talking to same people over and over again and would rather make new connection every week lol
I have worked with 2-3 expensive dental consultants. I realized they are just repeating what is written in books and were ineffective. For me it was like hiring a stock market consultant or investing In a mutual fund. Did you know that 90% of mutual funds do not beat the market even though they claim to be experts?
So, in one word, consulting is better than most other management jobs. It has a ton of money, sometimes comparable to IB, and yet, a healthy work life balance.
I think that the points made here are definitely valid, but are primarily only valid for strategy (pure-play) firms in the US. For example in the Asian region (where American big tech has less presence and pure strategy projects aren't selling that well) its really common for SWEs and AI/ML engineers to join a consulting firm first in order to get rapid experience working on large high profile projects, then move onto a project management or possibly leadership role for in a startup, etc...(coming from an ML engineer at a big 4 firm)
Just Completed my Computer Science Engineering and this is my first job, really scared and excited as well ,I thought not many engineers would join consulting but looking at your comment really makes me happy, any advice on what my future long term goals should be?
@@SalomaMathew hey hi can tell more , I am ml engineering student from a decent college with good grades , I have 2 years left can u tell me , how I should prepare get into a company like that
@@logx2536 all I can say is Consulting is a job that needs you to be verbal... You need to excel in your communication skills, be Confident while presenting and Have a little idea about marketing, digital marketing , customer solutions and you are good to go! All the best 👍💯
Thank you for that very informative video! Im thinking of getting into sustainability consulting, so Im trying to get as much information as possible before going abroad for my masters
My problem is getting a consulting job to begin with , i got a BBA in MIS and an MBA with a focus on Project Management, and so far all my attempts to get into consulting firms has failed
Consultants are hired to tell CEOs the obvious truths which they refused to listen from their own employees, by paying $$$ to some outsiders. That's why fresh graduates/PhDs from "brand name" universities but with no industrial expertise are often preferred.
I'm a 14 year old deciding on my career path and I think I will go forward to accomplishing my goal of becoming a consultant. This video was very informative and helpful! Thumbs up!!
When I was a consultant in one of company mentioned in 2:00, let's say my income was X Now I am a mere freelancer, but I earned 2X One of severely underpaid job....
Suppose you are employed by a consulting firm and you are contracted with a client. You start to work on a project with the client. Let's say that you work until the end of the contract and you are finished with the project. Let's say that the client thought that your work performance was not good. Would the client tell your employer's HR about that? Suppose the client does not want to extend your contract. Would the client have to give a reason why he does not want to extend your contract to your employer's HR?
So basically what I’m hearing is if you don’t mind traveling, don’t mind a horrible work life balance. You can get close to 100k a year with a appropriate bachelors and some strong soft skills? 2 year career in EMS and I clear 80 hour weeks for the last 2 years+travel and I barley make 75k/year…. To get into maybe the smaller firms, what’s the rough starting wage and what are they looking fir? I’m currently about to finish my bachelors in less then a year and want to leave EMS. Any tips on any firm outside of the big 4?
Consulting is the easy part. Most companies know their deficiencies. It’s carrying out the change that’s difficult for them. There need to be operational consultants that get their hands dirty and help carry out the plan. Of course this should come with a few but that’s how it should work.
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Consulting seems to be hiring people who don't know much about consulting to provide advice. And they aren't alone in the hotel rooms... that's the opportunity for the gang bangs. Basically, its an opportunity to get a lot of strange when you're out of town and really drill out some holes. Then you go to work tired and BS through some power point to people who couldn't care less about whether you know what you're talking about. Consulting.
Form doesn’t let me access anymore
Form doesn't work. Say's I don't have access - only within the owners organisation.
The start of the video would be amazing, but I can almost hear your voice over that music!😂 Btw that music is horrible as well.
Sounds like it’s for already well connected nepo babies to siphon cash from their dad’s friends companies. Only capitalism would allow such a useless ‘job’ to flourish.
Bro is a consultant for consultants
Are you one
I worked as a consultant for 10 years and I enjoyed the lifestyle, until I got married and had my first child. From my experience consulting is not compatible with family life. It was interesting that most of my senior colleagues were divorced. I got out in time :)
got out of the marriage in time or got out of consulting in time?
@@kkkbuta5 lmao yeah
How do you get started in consulting ?
@@samalldredge2038 I live in New Zealand so was studyign conjoint (Finance and Economics for business and science). But I applied for summer internships and got experience for that (12 weeks from November to Feb)
Same thing happened to my brother. He was a consultant at McKinsey then a partner and he was married to the love of his life with two kids but eventually they got divorced 😔
If you are good at fluffing and Bsing and also giving the impression that you do more work than you actually do then Consulting is for you!... If you can use fancy words and gimicks then consulting is for you.. In all seriousness there are a lot of good consultants but most of these firms basically over charge and over inflate what they actually provide a company..
Nailed it. Consulting is bs. We’re going to weed this crap out eventually.
also from the sound of it no work life balance.
They are dinosaurs that just repackage what the client already knows
@@lawschoolpro seriously. wtf is an undergraduate going to tell a group of people that have been in the business for years? "so my teacher just taught me this thing...."
Consultants provide netting for CEO’s, you can think of consulting as a sort of insurance company.
my dad worked as consultant for like 20 years and he actually enjoyed it because he was a workholic but he had nooo personal life everything was work and like after 20 years he got burned out and opened a restaurant in a remote location tells you much about the job
restaurant life is hard too!
@@rareliquidcareers yeah I guess so, one of the things he says is that consulting was macromangaing and restaurant is more micromanaging
@zyeranoth7078 mate what professional certification did he pursue, just asking as I want to work in this field.
Being a consultant myself, having experience of Big 4, i must say that this video is really informative for those who want to know what consulting business is and what big and giant consulting firms do to serve clients in different domains, such as Compliance, Finance, Risk Management, Technology, FIs,, and Other Advisory etc
I am an undergraduate student aiming myself to become a consultant for the big firms but what would you say was lacking in this video? As someone who have experienced the Big 4, I am eager to hear from you.
Would any of the big consulting firms consider hiring someone in their mid 30s?
⏱Timestamps⏱
0:00 - Introduction
1:09 - Consulting Firm Rankings
2:27 - What You Do
4:05 - Lifestyle and Hours
5:29 - Hierarchy and Compensation
6:59 - Figuring out if Consulting is for You
my dads a consultant. ive asked him what he actually does, he explains it to me, i still have no idea. i saw this video in my recommended and decided to watch it, i still have no idea what he does. its just a fake job im convinced lol
Consulting is basically telling very important people what they want to hear
Consulting has a lot of work and departments that collaborate with each other. The problem is, if the execs or business owners don't implement the formulated business recommendation; the planning and effort becomes useless, which is why the general perception of a consultant shows as less work when in fact its up to the business to enforce consistent implementation of that business strategy.
I worked for Oliver Wyman and it is a fantastic company, very pro work-life balance and within the company there were a lot of social programs and the people working there are just wonderful, and I was in the internal administration side.
Hi my Mmc colleague
Cool ADs dude 😂☠️
So you are not a consultant. If you are in the internal administration you frankly know nothing of day to day activities.
@@parlocosizarathustra By internal admin, I meant that I was the executive assistant to 3 partners. I was the one who scheduled all day to day activities. I was part of the major meetings within a project and then had to review the projects before they were turned in. I was pretty aware of everything.
@@rodrigozamo yeah being aware is different from doing things. EA usually follow 9-7 working hours (of course there are exceptions). Take a random sample of consultants and ask them the average workload in terms of hours. Bet is going to be close to 60-70 up to 90
Remember too the big 4 are mostly focused on audit and tax work so in this area they are tier 1. I also know several people who only stayed at mckinsey for a few years as partners until they got really tired of travel. The money is great but they are paying you a lot of your time on the road... not the life for everyone.
I work at Deloitte and they have their hands in a lot of pies, they're honestly great at every project they undertake, M&A, Tech Consulting, Supply chain etc
@@HarshvardhanKanthode Hi.
I am a CA aspirant in India.
Can you share your experience of working in Deloitte?
Because most of my peers are in audit and taxation division.
So wanted to know about the consulting services departments.
I am looking to get into consulting after college, and your video was very informative and straight to the point. Thank you 😊
Nice video. Few points: Accenture strategy and consulting doesn’t do tech implementation, this is done in technology and operations. I think this is a key difference compared to big 4 (direct experience seen in both firms). Would add Monitor to tier 2, Parthenon, Monitor, Strategy& are the same, strategy branch of Big 4. Lastly, Simon Kucher is not really a boutique anymore and in Europe is extremely strong
Bain stole money through corruption in state capture in South Africa.
As a consultant the information provided in this video is mostly correct. During downtime you are usually training for certifications to become more valuable to clients.
Hi. Starting out, does one need an MBA? I wana start my own management consulting firm
What type of certifications do you have?
additionally, when you join in on a project as a consultant, everyone will expect you to handle the big workloads by yourself. If you are not working on a project, you normally develop some new topics within the consultancy. Speaking as a German consultant.
Salute! I do work for German consulting too and this quiet accurate
Just wanted to clarify a few things: BCG was the first of MBB to up base salaries to 100k for undergraduates, and McKinsey was next to follow suit. I believe Bain is still at 90k, though. As of almost the last decade, BCG has typically been the first to up salary for varying reasons (one maybe being to differentiate for cross-offers). Also, BCG's associate to consultant timeline was only 2 years, not 3, and I'm not sure if this is for some offices in NA or more worldwide, but as of this past year they've changed it to a 21-month timeline (instead of 2 years). Slight nitpick, but it allows quicker advancement to consultant than McKinsey and Bain (although McKinsey does have the BA to EM direct promote for the top performers which allows them to skip a whole level). Just thought I'd mention those things!
thanks for the insight!
Bain raised salaries too
Almost makes you forget they drive companies into the ground
@@DannyT24 thanks for mentioning that. When one raises salaries the others tend to raise theirs quite soon after. I don't think they'd ever be materially different in compensation for too long. People tend to forget that MBB are far more similar to each other than they are different.
Agreed. BCG timeline is 2 years at every level -- Associate --> Consultant --> Project Leader --> Principal --> Partner --> MDP/Managing Director & Partner (equity)
In downtown Boston, Bain is right across the tiny, yet major historic one-way street from Deloitte. During lunch breaks we stand on the opposite sides of the street, face off...and tumbleweed rolls by. . .
got a position in consulting, im a senior rn. Weekends are usually fair game for work... lots of other youtube videos on consulting also mention working on weekends
Working weekends is rare at Bain. Can't speak for BCG or McK
also rare for bcg according to my friend (only 1 or 2 weekends from 2-3 years of work). while i was at deloitte, there was zero weekend work according to FT employees. so not sure where brian is working
Working at Deloitte as a grad, have pretty much worked all weekends, no work life balance 😢
True. It's not necessarily that they ask you to work on the weekends...but sometimes that just ends up being the most comfortable time to catch up on tasks you couldn't finish during the week.
@@Sharon-ix3or is this in the uk or us please Sharon?
Consultants do work weekends. In your other videos you stated that I Banking only is an entry ticket to PE and VC. Here you say something different. The reason why BCG and Bain are top ranked as desirable companies is because that dedicate a team to maximize those rankings as if it is a case team objective.
Consulting is a good career while you are young and before you get burnout, I worked In consulting at Deloitte it was brutal, but it landed me a better job so it was worthit, now I am married and spend less time traveling and more time dedicated to my household
Just wanted to know that does Deloitte provide any sector specific consulting or do they take up every project? As we are a startup and building a b2c consumer brand we would have required consulting in customer segregation and building a supply chain
@@hsingh8538they will take anything, in most cases they can assign the task and partner up with smaller firms
Consultant here. It may be worth mentioning that Federal consultants have a much better WLB than their commercial counterparts. Albeit for lower total compensation typically. Think 40-50 hour per week. Contracts are also much longer and slow-burning. It’s not the quick turnaround 1-3 months you often see on the commercial side.
This may be an avenue for aspiring consultants who still want to guard their personal lives.
great info thanks!
What exactly is a federal consultant?
@@abdulsunny2893 consultants who’s clients are government agencies instead of the private sector. Federal employees typically work a solid 40 hour work week because they have an establish “tour of duty”. That being said, having clients like that reflects on our work life balance.
Agreed x1000
What's if you want to be a management consultant with a Masters in Organizational Management?
I work for KPMG in IT Consulting in germany and my experience is vastly different than what you described. I work 40 hours a week, sometimes 43. 98% is WFH.
Same in Accenture in The Netherlands. I believe this extra hours thing is a US thing
How much money do you take for that?
@@matirijo mostly yes it is, but people are open to sacrificing their time for that top dollar.
I've seen people earning 6 figures 2-3 years in, this may not be possible in Germany unless you have a decade of experience
hey, überlege auch dort anzufangen. wie lange bist dus chon dabei und in welcher größenordnung befindet sich der verdienst :)
@@elias6812 bin seit 2 Jahren bei KPMG und verdiene aktuell 55k fix + boni
Accenture, KPMG, PWC, Deloitte, and EY are the top consulting companies in the Netherlands.
You are so good in explaining and making us understand every single detail
Currently consulting on two businesses. One operating out of the USA and foreign country and the other regional. Fix everything for investors and expansions and new markets. I am currently starting a company that will transition into a full-time position managing both of these.
I watch several TH-cam videos on how to trade in the stock market but haven't made any head start because they are either talking some gibberish or sharing their story of how they made it and I do not want to make mistakes by taking risks in my own hands
@WilliamEthan00 What is the name of your broker and how do i connect with him or her ?
@sojakia Wow that was easy, i found her website and left a message for her . i hope she reply me. thanks.
@@Patricia-Margaret Alice Marie Coraggio her trading strategies is working for me for more than a year now and I’m making good profit from the stock market and she's 100% honest, reputable and trustworthy...
Just had 2 months of BCG consulting and was so bad. They added nothing to the use case we needed help. We basically just guide them to confirm what we already knew and put their seal of approval on a power point to show management. No value added just need their reputation to confirm something because if it's you saying it it's now worth nothing but if it's a named consultant it's gold. So sad
As a former MBB consultant, while I agree with your sentiment, I believe companies that decide to onboard consulting firms should understand why they decide to do so in the first place; quite frankly if the company itself or the management team is delivering value to a satisfactory standard there is no need for a consulting 'seal of approval'. In addition, the reason why companies are willing to pay top dollars for consulting service & why the consulting industry is such a large and profitable industry is because companies need this 'seal of approval'; if the companies are capable and credible in the industry, there is no need for the 'seal' and thus the entire consulting industry~
@@damanchan6220 companies need it essentially to outsource market research, because consulting firms have a lot of competitive and market data given their breadth of clients and projects. No, companies don’t rely on consulting firms in anyway for their strategic opinions.
Classic
So consultants are a bunch of mouth breathers that get paid top dollar? Sounds like my cup of tea!
@@damanchan6220 so what do consultants actually do?
I didn't realizer how involved consulting was. It sounds like a cool career path I've never considered before. Thanks for the info!
That's so much for sharing this. I needed this for education purposes I never knew much about this field but have always heard about it.
To clarify, Bain Cap is just one of dozens of funds that Bain serves in its Private Equity diligence practice. Bain and Bain Cap's relationship is not much different than Bain's relationship with any other mega fund.
I did a lot of Consultancy-based modules for my University degree. I got on really well with it and was a high achiever... but I can't disregard that a lot of it is just BS. Oftentimes you are telling a company stuff they already know, or giving them suggestions and strategy for stuff they are already doing... it all felt a little substance-less and hollow ?
seems like a way for companies to prove they are doing well. have a manager hire a consultant. prove things are going well... bonus for manager.
@@oneword3576 yeah absolutely. Consultants are often used as echo chambers etc. but that doesn’t necessarily make the work the consultant has to undertake interesting, in fact I’d say the opposite
A lot of workers in business often share the same sentiment as you. However, the c-suite knows that is not the case.
50-75 hrs is a fair range, but I’ve heard of some McK consultants going up to 80-100 hrs
Great video overall! I work at an MBB and wanted to flag that the hierarchy timelines are incorrect the lower levels (for sure at McKinsey + BCG, likely incorrect elsewhere). The timeline from entry level (associate at BCG, analyst at McKinsey) to manager (project leader at BCG, EM at McKinsey) are 3 - 4 years instead of 6. For example, you might spend 2 years as an associate, 2 years as a consultant, and then be promoted to manager. 6 years would never happen.
Thanks for the info and clarification!
I love the long list of Consulting areas. Thank you for sharing your expertise. Greetings from an independent consultant. It gives me a lot of freedom and life balance after 20+ years of experience working for various companies. According to HBR: "The vast majority of independent consultants (90%) in our survey reported that they are satisfied with working in this way, and our data indicates that they are more satisfied with their current professional life than our employed consultants. They are also successful. Most are meeting their target days and earning more or at least the same as when they were employed, despite working fewer days. Independents also rate their current work quality as higher compared with when they were at traditional consulting firms - 91% said it offers better value for money for clients and two-thirds said their recommendations are more likely to be implemented."
great video! I would love to know how one can start learning the skills needed for consulting excluding the syllabus you are taught in b-schools. Thanks!
Is it possible to make a switch from a IT consultant to tech-roles like SDE, SWE of a product based company? If possible what are the challenges one might face?
Great video ! But I slightly differ on Accenture. I’ve worked for Accenture Strategy & Consulting : they don’t do implementation projects. Accenture Technology does technology implementation. Accenture S&C is a front line strategy & consulting firm which engages with C- suites in shaping their strategy.
Thanks for sharing!
Hey Ben, I don't think you saw my comment on your previous video so I just wanted to say I'm glad you're continuing the career related videos on this channel. Also, if you don't mind, I wanted to ask if you edit your own videos? If so, which software do you use to aniamte the slides? You've inspired me to start creating content!
nope i have an editor and i think he uses da vinci resolve
Awesome vid. Can’t wait to see that interview!
about to get my DBA and consulting was recommended
This is really my dream job! Got to talk to some McKinsey experts and now I feel that working there is the only way I can feel fulfilled
That is so weird for me to read. Because i cant imagine or concieve how can one feel fullfilled working like that, but that is just me and the way i feel. I hope you get your dreams and that job!
Are you from the US? I'd imagine not with that wording. If you are ... damn that's sad.
This was very informative and you’re very intellectual and well-spoken! Thanks for giving me more context to consulting. I’m a college student pursuing a degree in business to become a consultant
I did two summer internships during university, at two different big 4s. Whilst the staff were super friendly, I always weighed the family factors against it. During my third year I completed another internship at a bank and found the lifestyle, work culture a lot better. For some, they love the culture of big4 and consulting. Me personally, I just felt that I never was fitting in with others.
What was the exact position for the internship
@@toblerone3202 my one?
Out of curiousity how come you feel like you don’t fit in? And what kind of culture is it?
@@TheeLuLuGirl guess being pasifika and basically everyone was european just didnt feel like i fitted in
@@PUMA4LIFE101 What sounds harder to your "ears"? 1. Certified Public Accountant or 2. Masters Degree in Statistics?
Management consulting has always been the best option
I think this video conveys information that is generally accurate for pre-manager levels at consulting firms. Might be good to clarify that. Some stuff like number of projects handled at one time changes, there is a clear expectation of participating in sales, relationship building etc. these points will help people making decisions for those levels. Maybe another video specifically focused on this.
What about the travels? Do Managers and partners travel a lot too?
@@felipeabe3063 It really depends. I've not had to travel that much but in general, my overall average flying was around 60k miles a year (this also includes personal travel which can be long international trips as well). This was all of course pre-covid. I haven't been on a plane for work since March 2020. There really isn't a rule that a certain level of folks will travel more than the others. Like right now, partners are probably traveling a lot more than rest of the staff. In projects where there is regular travel required, partners might not travel as much as the team does, some do, some don't. Hope this helped!
Boys and girls, take note: study computer science or engineering! These fields give you strong, transferable skills and open doors to exciting, future-proof careers in tech, AI, robotics, and more. Consulting might sound glamorous, but it’s a burnout-heavy path with limited growth unless you love endless presentations and pleasing clients. Build skills that matter-choose tech or engineering!
great video, very well explained. This is the first time that I understand this industry.
Same here
Another invaluable channel will explore more videos from you, sir, thank you!
Great and efficient video. Go to the points and not lengthy! Well done
Thanks for the valuable information! I just subscribed! I would be also interested in your podcasts. Where can I get the access?
Thank god TH-cam suggested me this video. Was exactly what I was looking for!
Glad I could help!
Hey ben what are the skills we required to become a consultant? Also every consultant works 50-7 0 hrs? Also how one can decide if consultanting is made or not? Please tell other types of consultanting also?
Main tasks are Excel spreasheets and PowerPoints slides.
I’m more than happy to discover this channel. I need to thank you for your time for this, particularly a fantastic watch!! I liked every little bit of it and I have subscribed you to look at new posts all the time.
I've interned in a 4PL consultancy company, the assessment for suppliers and clients is a breeze but what takes a toll on me is the damn man hours needed to make PPT presentations and if your boss does not like it you have to start all over again.
this is wonderful video, thank you for sharing. I am stepping into the consultancy for the 1st time and there are loads to learn. really appreciate your work. thank you.
Thanks for the information. Was wandering where to get the information regarding consulting and you came to rescue.
I've worked in supply chain for multiple international companies for 15 years, up to director position.
Every time we had consultants come in and sell some solution to us, we'd right away asked them if they would implement it and how much would it cost. It has never worked out, either because what they proposed was too complex, too unrealistic, too expensive or too ambitious. Or a combination of above mentioned.
So my biased opinion about consulting guys - they sell overpriced powerpoint presentations basically ))
This was such a great overview video thank you!
I’m good with all the cons. Thank you for sharing this!
gonna aim one
i'm so sure i've seen your posts on linked in, do you go to Cambridge by any chance?
the Cons are the reason I should try Consulting... I like to be lonely, I hate to stick down same home town, I hate talking to same people over and over again and would rather make new connection every week lol
I have worked with 2-3 expensive dental consultants. I realized they are just repeating what is written in books and were ineffective.
For me it was like hiring a stock market consultant or investing In a mutual fund. Did you know that 90% of mutual funds do not beat the market even though they claim to be experts?
Extremely helpful, thank you!
Love the video! Thanks for the tips!
Great video, yet again! Hugely impressed with the quality and how seamless it was
OMG I love this especially the hierarchy I was so confused on what was entry level and every business calls a title differently
yeah if only they made things easier and used the same titles! haha
Hey, thanks a lot for putting this together in such nice overview!
Man this is gold ! Thank you !
So, in one word, consulting is better than most other management jobs. It has a ton of money, sometimes comparable to IB, and yet, a healthy work life balance.
Where in 50-70 hour work week did you hear healthy work life balance?
@@fabe61 lol yeah
Healthier, but far from healthy.
i am looking to get into Consulting! Happy 2023! Great Video
Well organized video. Keep it up!
Detailed and informative please make for Law firms and Accountancy firms
I think that the points made here are definitely valid, but are primarily only valid for strategy (pure-play) firms in the US. For example in the Asian region (where American big tech has less presence and pure strategy projects aren't selling that well) its really common for SWEs and AI/ML engineers to join a consulting firm first in order to get rapid experience working on large high profile projects, then move onto a project management or possibly leadership role for in a startup, etc...(coming from an ML engineer at a big 4 firm)
Just Completed my Computer Science Engineering and this is my first job, really scared and excited as well ,I thought not many engineers would join consulting but looking at your comment really makes me happy, any advice on what my future long term goals should be?
@@SalomaMathew hey hi can tell more , I am ml engineering student from a decent college with good grades , I have 2 years left can u tell me , how I should prepare get into a company like that
@@logx2536 all I can say is Consulting is a job that needs you to be verbal... You need to excel in your communication skills, be Confident while presenting and Have a little idea about marketing, digital marketing , customer solutions and you are good to go! All the best 👍💯
@@SalomaMathew thanks
Thank you for that very informative video! Im thinking of getting into sustainability consulting, so Im trying to get as much information as possible before going abroad for my masters
Just want to share that some firms in my country apply "2 or 3 years to up or out" rule, so the competition among peers could be more intense.
thanks! have heard this is common at most consulting firms
Which means alot of back stabbing and peer sabotage
Just found your channel. Excellent Content. Another sub for you sir!
My problem is getting a consulting job to begin with , i got a BBA in MIS and an MBA with a focus on Project Management, and so far all my attempts to get into consulting firms has failed
Consultants are hired to tell CEOs the obvious truths which they refused to listen from their own employees, by paying $$$ to some outsiders.
That's why fresh graduates/PhDs from "brand name" universities but with no industrial expertise are often preferred.
Or better, they can shift the blame to consultants on difficult decision they don’t want to make (layoffs and such)
Same as a spouse saying the obvious but it’s not the message but how the message is delivered and from who…
@@dtsung3d you got it
Oh, finally the truth! Agreed.
Good video but the salaries are more for tier one MBB. Big 4 pays well but not at the same level as MBB.
I'm a 14 year old deciding on my career path and I think I will go forward to accomplishing my goal of becoming a consultant. This video was very informative and helpful! Thumbs up!!
Thank you for a very informative content!
Thank you! This was helpful
When I was a consultant in one of company mentioned in 2:00, let's say my income was X
Now I am a mere freelancer, but I earned 2X
One of severely underpaid job....
With a name like yours, I don't even need to read the comment to know it's utter horseshit
My sister was thinking about starting a consulting firm with a micro specific expertise which is really a subject of focus in today's environment.
Hi, how can I reach you? I am looking for a freelance consultant.
Thanks, I want to go in management consulting. Getting my Masters in Organizational Management.
Your video is very helpful for a business student!🥺 thxxx a lot
Glad it was helpful!
Definitely applies more for strategy consulting. Agree with the points made though!
Suppose you are employed by a consulting firm and you are contracted with a client. You start to work on a project with the client. Let's say that you work until the end of the contract and you are finished with the project. Let's say that the client thought that your work performance was not good. Would the client tell your employer's HR about that? Suppose the client does not want to extend your contract. Would the client have to give a reason why he does not want to extend your contract to your employer's HR?
If You Have To Grow Your Business Then It Is A Better Option To Do Business Consulting First
To the point and enriching video.
Thankyou
Thank you for this video, really helped clear some things up for me.
Excellent video, thanks Ben!
Thankyou so much ! Could you please explain the prospects of a doctor ( fellow ) in training to consider joining consultancy ?
how to break into consulting after undergrad without a business background? What are some skills/courses/internships to look out for?
You did a fantastic job!
Can you recommend me , i want to join and move forward in my career it will be GREAT help.
So basically what I’m hearing is if you don’t mind traveling, don’t mind a horrible work life balance. You can get close to 100k a year with a appropriate bachelors and some strong soft skills? 2 year career in EMS and I clear 80 hour weeks for the last 2 years+travel and I barley make 75k/year….
To get into maybe the smaller firms, what’s the rough starting wage and what are they looking fir? I’m currently about to finish my bachelors in less then a year and want to leave EMS. Any tips on any firm outside of the big 4?
Is it normal for a company where you're expected to do 50-75 hour weeks to be in the top 100 best places to work?
Thank you for useful information
My dad used to work for Accenture, before starting his own firm.
Consulting is the easy part. Most companies know their deficiencies. It’s carrying out the change that’s difficult for them. There need to be operational consultants that get their hands dirty and help carry out the plan. Of course this should come with a few but that’s how it should work.