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Management Consulting Discussion

Discussion in 'Business, Careers & Education' started by Artisan Fan, Feb 7, 2011.

  1. NAMOR

    NAMOR Well-Known Member

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    oh, that's no concern. I was only looking for an opinion on that portion of the consultancy field. never heard of it before
     
  2. NAMOR

    NAMOR Well-Known Member

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    Great read in todays NYT of Mr. Romney's practices/successes/hypocritical behavior as a management consultant. The man was terribly successful at what he did. Now the question is whether it helps or hurts his bid for the presidency.
     
    Last edited: Nov 13, 2011
  3. Newflyer

    Newflyer Active Member

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    That's about Bain Capital, not Bain & Company.
     
  4. Lord-Barrington

    Lord-Barrington Well-Known Member

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    Bain Cap, not Bain and Co.

    Of the many big PE players, Bain Cap is probably the most notorious for its unsavory practices, mainly paying itself dividends well before any extra value has been generated by the takeover target. I think if most Americans could grasp how Romney made his fortune at the helm of Bain Cap, a lot of people would be turned off.

    Some PE firms had fairly good track records through the 90s and the last decade but I'd argue that Bain Cap wasn't one of them.
     
  5. NAMOR

    NAMOR Well-Known Member

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    right, my comment was from the stand point of how the company in question was managed.
     
  6. Stillblade

    Stillblade Well-Known Member

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    So I got a Poli Sci degree from Rutgers with a 3.46 GPA. No internships or related work experience. Anything specific I can do to make myself more attractive to the more respectable firms before I drop the money on an MBA?
     
    Last edited: Nov 15, 2011
  7. Lord-Barrington

    Lord-Barrington Well-Known Member

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    The big strat ones probably aren't recruiting at Rutgers so unless you have an in with them we aren't aware of, forget about that. Other places like Accenture, Deloitte, IBM et al. recruit everywhere and the most important thing is probably to make yourself known to them and then be sure you know what to expect in the interview process.

    Turnover at these places is massive so spots open up a lot. I'd honestly rather do a lot of other business or even government/non-profit work to prepare myself for an MBA before I worked as a consultant at a place like Accenture or IBM though. Low pay, long hours, and pretty boring work. And when you do apply for your MBA (at a top school, which I presume is your goal) you're competing in the "management consultant pool" against people who are coming in from Bain, Mckinsey, BCG, etc.

    Consider industry, or even gov/NGO if you want to get an MBA in a few years. They are less competitive applicant pools than banking/consulting/IT.
     
  8. phreak

    phreak Well-Known Member

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    Low pay? You can do a lot worse than 60-80k fresh out of school
     
  9. Lord-Barrington

    Lord-Barrington Well-Known Member

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    Accenture and Deloitte are in the 55-60K range out of school. But that's for 50-60 hours a week, without counting travel. That's low pay.
     
  10. fortytwolong

    fortytwolong New Member

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    Is Deloitte consulting really that low? I thought they made alot more than advisory associates and thats about the same.
     
  11. phreak

    phreak Well-Known Member

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    It's low for the industry, sure. What do you think the average college grad is making now?
     
  12. Lord-Barrington

    Lord-Barrington Well-Known Member

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    Per hours worked it's just low, period.

    That's a bit of a simplistic way of looking at it, of course, because it can be good experience and a nice way to start your career. When I graduated I would have gladly taken 30K a year for substantive experience in my field. So it isn't just a terrible choice no matter how you cut it. But in terms of compensation per hours worked it's terrible.

    It's the same thing is people who get worked up over banking salaries. As an analyst you make 90-100K for 90-100 hours a week (in some cases). That's terrible pay.
     
  13. yjeezle

    yjeezle Well-Known Member

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    well shit. i guess since i'm averaging 50-60 hrs per weeks at a lower salary than that... :\
     
  14. nainbleu

    nainbleu Member

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    Is being a consultant at a BIG 4 advisory practice complient with this thread ? [​IMG]



    In France [​IMG]
     
    Last edited: Nov 18, 2011
  15. ChicagoRon

    ChicagoRon Well-Known Member

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    It's low-ish pay, but the people who stick it out (and I'm one of them) do it because the career advancement / learning curve is much faster/steeper.
     
  16. Lord-Barrington

    Lord-Barrington Well-Known Member

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    As I said, it isn't a bad move depending on your career aspirations. But I wouldn't do 2-3 years of Deloitte or Accenture work just as a learning experience.
     
  17. delirium

    delirium Well-Known Member

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    Not sure about all the consulting groups at Deloitte, but I know someone in their 2nd year getting paid 75k base.

    They also will sponsor MBA's... so that's a draw if you want an MBA.
     
  18. Lord-Barrington

    Lord-Barrington Well-Known Member

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    75K base is fine but as I said, it's a lot of work and it isn't necessarily interesting work. It's mostly IT, short term outsourcing, and a very little bit of operations. I wouldn't log 60-70 hour weeks to do that shit for 75K a year.
     
  19. delirium

    delirium Well-Known Member

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    I think you're right and being pretty fair. Although, I'm getting paid less and working 50-65 hours at a small (non-VC-funded) tech company. Then again, I know I'm getting severely underpaid, but even if one knows what they're doing, tech is a hard market to break into without a solid technical background.

    What's the expected pay for gov / NGO work? Industry I imagine at least in tech is about the same as Deloite/ Accenture for same amount of hours.

    I also wonder how much I'd learn at a gov/NGO job. Any suggestions on what to look for?
     
  20. Lord-Barrington

    Lord-Barrington Well-Known Member

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    BIG GOV (i.e. federal) is often around 55K after about a year for many positions, but that's for around 37.5 hours a week, 3 weeks - a month off per year and very, very good benefits. It's a pretty sweet gig out of the gate.

    However, pay hits a ceiling pretty quickly and the very top of the payscale is very low compared to the private sector. Civil servants running agencies or departments with thousands of employees probably make around 200K per year, which sounds like a lot but is really peanuts considering the responsibility.

    I would never advise anyone to do government (local, state, or federal) or NGO work for salary reasons. It will always pay OK but never enough to make it worthwhile. What does make it worthwhile is stability, flexibility, and time off. Especially in the US where paid time off is mostly terrible, it can be a nice gig for people who like to travel.

    Also, industry hours are almost always 40 hours per week with minimal travel. And business travel (especially in the continental US) sucks balls so that shouldn't be considered a drawback.
     

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