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Moving from Accenture to Start-up?

 
#1 Moving from Accenture to Start-up?
30/04/2018 14:27

ACNTechConsultant

Hi all,

I've been at Accenture for the past three years, joining as an Analyst from university. I am currently a mid-level Consultant, base pay 49k, with a guaranteed skills bonus of 15%, total package standing at 56.5k.

I've been offered a job at a small FS start-up who are looking to expand, base of 70k with equity.

Would you recommend moving away from a strong brand (Accenture) to an unknown entity for more money and more interesting work (hopefully)? I am concerned that my future opps may be limited, but keen to get people's thoughts.

Thanks!

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#2 RE: Moving from Accenture to Start-up?
01/05/2018 15:44

Tony Restell (Top-Consultant.com) to ACNTechConsultant (#1)

The key question I would ask yourself - and this applies to anyone weighing up such a choice (be that leaving Accenture or any other reputable consultancy) - is whether you like selling and have any reason to believe that you will be really good at sales?

The reason I say this is because consulting IS a stepping stone to other career paths for the overwhelming majority of people that go into it. So the lucrative long term career path that consulting offers is actually mythical for most people. If you prove yourself to be a really good salesperson then you'll have a lucrative and successful career path beyond Project Manager level. But if selling isn't your bag then you are inevitably going to wind up moving out of consulting in the next years anyway. At which point the transition you're thinking about now isn't nearly as risky as you might perceive it to be.

Hope that helps!

Tony Restell

Top-Consultant.com / Social-Hire.com

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#3 RE: Moving from Accenture to Start-up?
02/05/2018 18:41

cloudnumbernine4u to ACNTechConsultant (#1)

Did u just say equity..

..go for it...its higher offer and you can always go to any firm later if requied with Accenture brand already on your c.v

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#4 RE: Moving from Accenture to Start-up?
04/05/2018 11:33

marsday to ACNTechConsultant (#1)

Tony's advice is absolutely spot on.

I would add that FS start ups (I assume this is a fintech?) are proliferating - and can present a great opportunity. But if they arent selling then that equity amounts to nothing anyway. There are a lot of FS startups founded by former bankers of all stripes and hues who do it because they can see a product opportunity, but often hugely underestimate how long it takes to get their products into banks...

As with any start up, dont get blinded by the glamour of equity and the fast culture, look more closely - have they sold yet and to whom? do they have investor backing and are the founders putting their own cash in? What's the burn rate? If it's a product business and most are, can you explain the product simply and without jargon?

Start ups can be hugely rewarding, but go in with your eyes open.

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#5 RE: Moving from Accenture to Start-up?
23/05/2019 16:15

costaoats to ACNTechConsultant (#1)

Hi all,

I've been at Accenture for the past three years, joining as an Analyst from university. I am currently a mid-level Consultant, base pay 49k, with a guaranteed skills bonus of 15%, total package standing at 56.5k.

I've been offered a job at a small FS start-up who are looking to expand, base of 70k with equity.

Would you recommend moving away from a strong brand (Accenture) to an unknown entity for more money and more interesting work (hopefully)? I am concerned that my future opps may be limited, but keen to get people's thoughts.

Thanks!

Honestly wouldn't bother.

Start ups are extremely intense environments leading to poor work/life balance, where you have many founders with unrealistic expectations of what to expect from their employees e.g. expecting unconditional loyalty for paying their wage as opposed to understanding that people are working for a living to survive. Hence, politically you have to be seen as an evangelist of the company by going 110% at all times, otherwise you will not survive.

Equity also means nothing, more chance of winning the lottery. 90% of start ups fail.

If doing a sales related role, you will also be under a lot of pressure to sell, given starts up are for expanding aggressively with a limited budget. The sales team in every start up I have worked in has it the hardest.

Start ups also do not enhance your CV, since being corporate I am having twice as many opportunities than when I was working in start ups despite the work being a lot harder where attrition rate is high from impatient founders getting rid of them.

Since you have worked at accenture, find another corporate to join (with a relaxed culture) but go in at a senior position. You will be able to earn as much as the start up with less stress with a better brand name on your cv.

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