Management consultant Jaineel Aga started the blog series on Management Consulting Jobs with a post on Why consulting? This week he talks about why a career as a strategy consultant is so popular.
An MBA can open doors to various interesting professional avenues. Undoubtedly, management consulting is one big draw for many B school aspirants. I will go one step further and opine that some people explicitly go to B schools to get into management consulting!
The million dollar question is – Why management consulting?
I could think of various reasons –
• The money is good; the perks are even better – frequent flyer miles, business class flights, 5 – star hotels, club memberships, and year round parties.
I consider consulting to be a “lifestyle profession” and as a consultant you lead an envious lifestyle.
• No Stagnation – Many of you reading this want to pursue an MBA to get out of your current stagnant roles.
They say half the fun is in the pursuit and when the challenge dries up, your job becomes a drag. Many aspirants want to break into management consulting because they do not want to be pigeon holed in one type of industry or role.
Consulting exposes you to various industries and keeps you intellectually stimulated as every case comes with a different set of problems to solve.
• Entrepreneurship – It is not uncommon to find consultants going down the entrepreneurship path. Consulting equips one with the fundamental analytical skills needed to be a successful business, be it in effective marketing and distribution channels, running and cutting customer surveys or comparing businesses vis-a vis the competition are all skills that would come very handy to any entrepreneur; not to forget the contacts and network that come with a consulting job.
• Great Platform for the Industry – Many MBA’s want to pursue consulting because it provides an excellent platform to transition into CXO / Strategy roles in the industry.
For many, it is exciting to be working alongside CXO level and helping solve a very high level problem.
• Prestige Matters – Lastly, there is a HUGE percent of B school applicants and students who want to get into consulting simply because it is “prestigious” – Same reason why many want to only go to HARVARD without considering how it may not be the best fit for them!
We Indians still believe in “playing to the galleries!” This is what makes the competition even fiercer.
If you thought getting a good B school was tough – think about how tough it would be to break into management consulting?