The Pros & Cons of Working With Top 4 Consulting Firms
Before we jump to the pros and cons to work for the most prestigious consulting companies like KPMG, Deloitte, Accenture, Bain & Company, Ernst & Young, or Price Waterhouse Coopers – I wanted you to know that I didn’t take any master’s degree about consulting nor have any consulting certification.
This article is only about sharing one of the best things that ever happened to me of having clients & students all over the world due to my persistence & hard work in designing my future.
What You Need To Become A Consultant?
To become a consultant, what most prestigious consulting firms require is a bachelor’s degree and some consulting companies prefer a master’s degree. You must have a related degree in a certain field like accounting, business, finance, marketing, or management and some employers require certification like for example for business management a Certified Management Consultant (CMC), for Information Security in IT a Certified Information Systems Security Professional (CISSP) and for marketing a professional certified marketer (PCM), and I do not have any of these.
What's The General Role Of A Consultant?
Consultants are hired to improve the structure and productivity of businesses. Sometimes a consultant might be used to solve a specific problem that an individual or businesses are encountering. Consultants create value, improve growth and maximize business operation’s efficiencies.
Consultants give advice for businesses or to a specific group of people.
In a practical sense, if you can bring your knowledge, experiences, circumstances, or practice to those who need it, you can be a consultant. To make it simple – If you have a problem-solving ability to offer to a specific group of people of your interest, you can be a consultant.
But that’s not the whole story….
It’s about bridging the gap between their current situation and their desired situation and how well you can deliver that transformational experience by filling this gap to individuals or businesses.
Okay now, let’s jump to our topic of “the pros & cons to work for the most prestigious consulting firms”.
Pros Of Working For The Most Prestigious Consulting Firms
Consulting firms have a huge number of employees worldwide providing business management, marketing, audit, tax, consulting, and financial advisory services.
Strengthening your connections is essential for any career growth.
Regularly engaging with your colleagues, contacts, clients in assisting them helps you build and strengthen your relationship. By doing this, you sow the seeds for reciprocal assistance when you need help to achieve your future goals.
There is plenty of better training available for you to learn. When a new consultant moves into a new role, they are often not prepared. The top consulting firms create completely custom training programs for their employee’s goals. The most prestigious consulting firms give specific training needs for employees to develop their skills to use quickly and effectively.
Working for a brand name consulting firm makes your resume attractive for the future work reference. Filtering job candidates, your resume is the single most important element in setting you ahead of the competition.
Cons Working For The Most Prestigious Consulting Firms
Some major consulting firms offer a partnership, which means it’s sometimes tough to be entrepreneurial. Projects went on longer than you expected. Consulting is often criticized for its lack of work balance environment.
The unpredictability of travel – being away from your loved ones and always having to be on the loop with your work can be exhausting and draining.
For those who already have families, this is usually the most difficult negative key point working for the most prestigious consulting firms – you don’t control your time and working environment.
The average consulting salary is about $75,000 per year. Most consultants are happy during the initial years of service because the money is flowing in. But all of a sudden, you hit an income plateau because you’re trading hours for money & most consultants get burned out working and earning less money overall.
Waking up in the middle of the night and while you try to get back to sleep you’re worried about how to make your budget stretch & increase your consulting income because of the fact that you are tied-up and signed an agreement with the consulting firm that you dream to work with.
If you’re working with a consulting firm, turnover is high every year because individuality is not always encouraged. So if your co-workers leaving their job, the end result is that you have more work on your plate without necessarily receiving a pay boost in return.
Working for the top consulting firms you must meet certain metrics and specific deadlines beyond your control.
Things I learned in growing my skills in serving people
If you’re constantly developing new skills this will extremely help you move forward in your career in whatever way you want – setting your own business rules, work from anywhere, build your own course, teach people at your own pace & get paid what you are worth.
If you want to get into consulting service, you will need to know who are the people that you want to serve (specific niche) and start talking to a small group of people of your interest and then develop a reliable system for bringing in clients each month.
Here in MyBizbreakthroughs, we focus to help you bring your expertise, and practice to light – Empowering every consultant & coach to stand on their own by growing their own expertise to earn. Where they can ignite their ideas & turn them into a realistic value-profit business.
We strive to offer our customers the best & efficient practical solutions making everything easy by default in building a consulting business that is doable with EASE!
• Spreading simplicity
• High standard education
• Results
• Long-term thinking
• Pursue certainty
• Global reach
• Design Your future
