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Transition from Industry to Consulting - Right Level and correct compensation

 
#1 Transition from Industry to Consulting - Right Level and correct compensation
22/11/2019 09:44

anto

Hi Forum,

I am currently exploring job opportunities in consulting, transitioning from Industry. I have 7 years work experience ( procurement) + 6 months(marketing) + 1 year internship (marketing). Not sure if I can count the internship and call it almost 8 years. I am looking at opportunities in London.

I am looking to transition into consulting. My best bet is procurement related consulting where I can leverage my industry experience. My questions are:

1. what would be the right level to enter into a consulting firm , especially Deloitte? Would Senior Consultant be the right level or Manager level? Bear in mind I did not manage a team directly reporting to me in my experience however, I have managed resources to complete projects. Someone I met from Deloitte, a company of interest to me, suggested I go for a Senior Consultant. I am concerned that I may undersell myself.

2. What would be a good salary? With 8 years almost of experience and Business Masters and Electrical Bachelors Degree what would be a fair compensation to ask for.

If you could just help me clarify this, it would be great.

Cheers,

L

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#2 RE: Transition from Industry to Consulting - Right Level and correct compensation
11/01/2020 06:13

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

I see your quandry.

Typically in consulting a senior consultant will have significant experience and often an area of expertise - such as procurement in your case. The jump to manager is often made after an MBA and is quite a step change in responsibilities. You'll typically be responsible for managing a project team (both consultants and client team members), the project budget, managing the project to be delivered on time and liaising with key client stakeholders to ensure they are happy with how the project is progressing.

This manager level therefore requires quite a bit more experience than simply having managed some people before and hence the advice to go in at senior consultant and work your way up sounds right to me. It's also the case that it's much harder to be a manager in a consulting firm if you don't have any prior consulting experience. So again, getting a bit of consulting experience under your belt and then making the leap is likely to be the wise move.

I hope this is helpful and all the best with pursuing a consulting career. Tony

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