Strategy Consulting....do you learn anything?

[Anonymous]

I've been offered a generalist consulting position with a top strategy firm (think similar to Mitt Romney's old firms) however I'm not sure if it is the right move. Everyone seems super smart and extremely credentialed and quite nice but the whole job just seems like peddling lots of BS (along with a hellish M-Th travel lifestyle). I doesn't seem like concrete technical and hard skills are developed.

My long term goal is to work at State or IC in government. The only benefit I can see from a job like this is the name brand of the firm on my resume. However is that worth it enough to take a position where I don't feel like it fits me or I fit into the culture? Furthermore, unlike virtually everyone else, I'm not HBS/top B-school/ivy undergrad credentialed and I worry about being staffed on 'stupid' assignments and being treated differently (even though during my interview process everyone was super nice).

Can anyone who has experience in strategy consulting at the type(s) of firms I'm talking about give me a better understanding of what I should expect and what types of careers it leads to?

Furthermore I worry about having zero control over the types of assignments I might get staffed on so two years from now when I look back, my experience is in some industry I have zero interest in..like CPG or digital marketing.

It seems most who exit from places like this end up going to work 'in industry' in which they consulted for...and therefore you end up at the whim of what you get staffed in your consulting career.

Thoughts?

[Anonymous]

What are your other options?

[Anonymous]

Anonymous wrote:What are your other options?

OP Here. I'm being considered for a couple of finance positions at well known banks (in New York) within their research groups. I think I will get one of them but I've noticed in my interview process that finance people just seem more 'mean' even though they have the same 'credentialed' backgrounds as the people at the strategy consulting firm (not local either, boston).

In talking to others at the banks in question it seems there are a lot of Gov -> Bank transitions but not as many as Bank -> Gov transitions (note, i'm not talking about ultra high level people like bob rubin or people at the c-suite/Managing Director level). It seems many in their 30's and 40's had their stint in gov early in their career before moving to the bank(s).

[Anonymous]

We are talking McKinsey Bain or BCG. Seeing as one of those doesn't have a DC office yet...we're down to two.

You will learn presentation and seriously good exposure to the c suite. The pedigree will grant credibility. And yes, your life will suck.

Beware golden handcuffs.

I chose not to continue in consulting and make $200K. Those who stayed are now at $250, and the gap will only widen. For some the prospect of leaving and making "only" $150 or $200 is too much to bear despite their hating the lifestyle and hours. For others "$150 for a normal life sound great". Be sure what side of that equation you'll fall on.

[Anonymous]

And yes, as a Sr Associate / consultant / engagement mgr you will have little to zero choice in assignments. You are a generalist. Be prepared to be flexible.

[Anonymous]

Thanks PP. I certainly have some thinking to do. The best thing about the consulting offer honestly is the prestige of the firm and having it on my resume. The banking (hopefully two but definitely one offer) is a good place but not as 'sexy' of a position but i get to work in my area of interest on a daily basis.

I just don't know if one will position me for my long term goals to get into federal work at State/IC better than the other.

Or if i just need to forget that and compare the two positions regarding teh short term (2-3 year) merits they can provide.

[Anonymous]

I learned a ton in my 3 years in investment banking, and then leveraged that and had many options. Including downshifting to govt.
As you probably already know since you went through the interview process successfully, broad exposure and challenging work right out of ugrad counts for a lot. And you'll learn more than you think when you go write your self reviews or resume later.
That said, if you are more the government worker type and want that pace, don't punish yourself by working in a Type A consulting firm or IB. You might be miserable.

[Anonymous]

Anonymous wrote:I learned a ton in my 3 years in investment banking, and then leveraged that and had many options. Including downshifting to govt.
As you probably already know since you went through the interview process successfully, broad exposure and challenging work right out of ugrad counts for a lot. And you'll learn more than you think when you go write your self reviews or resume later.
That said, if you are more the government worker type and want that pace, don't punish yourself by working in a Type A consulting firm or IB. You might be miserable.

Thanks for your insight. OP here. Luckily my banking options are not IBD but in research, so I don't have those hellish hours and crazy MD's stressing over deals, pitchbooks, dcf models, m&a stuff etc. I'm more of a markets person than a deals person.

How did you personally move from IBD to gov and did you do it early in your career? Atleast in research/risk management it seems the path is Gov -> Bank but not the other way around.

Personally i'm not attracted by gov due to the pace/lifestyle but more to the mission and unique aspects of certain positions/agencies that i'm interested in.

I'm a pretty non-traditional candidate for the consulting and banking gigs (a hair older than the typical person might be for the positions I am being offered, but still in my 20's) but I was able to get my resume in front of the right people and went through successful interviews.