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Moving into strategy consulting from industry

 
#1 Moving into strategy consulting from industry
11/07/2007 11:51

steve

Hi

I am looking to make this move. i have 7 years experience including 4 years as a line manager and last 2 years selling and delivering services (technology consulting) to customers.

Based on your experience what sort of level should I be looking to join a strategy consultancy at and what salary / package can I expect?

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#2 RE: Moving into strategy consulting from industry
11/07/2007 12:40

ron to steve (#1)

It's difficult to tell. With your background, I think you may already be pigeonholed as an account manager type. As a recruiter, I would be worried about your 'fit' in a strategy consulting environment. A lot of industry types think they would make good consultants, only to find out that their experience isn't relevant or high-level enough, and/or that clients expect polished deliverables and quite frankly the standard of literacy/structured thinking/ability to produce good quality written work isn't high enough (on average) from people who have become accustomed to getting things done by e-mail and on the phone. Do you have an MBA or experience in a professional services firm such as an i-bank or law firm for instance (i.e. anything but an IT services company)... this would help.

Personally I think technology consultants make good strategy consultants because they have quite logical ways of thinking, but a lot of people see it differently. For experienced hires, they seem to want people who are experts in a particular industry (FS, oil/gas, FMCG etc) rather than who have a functional expertise (e.g. IT) or who already have strategy consulting experience. For entry level positions, they seem to focus on academics and extracurricular activities, i.e. ability to learn/be shaped into their culture.

As an example, could you ever for instance imagine McKinsey hiring an account manager from Computer Associates and dropping them into a strategy assignment in the rail industry (as might be expected from any of their consultants)?

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#3 RE: Moving into strategy consulting from industry
11/07/2007 13:22

steve to ron (#2)

Thanks for the reply. You make some good points and it gives me an idea of how I should be presenting myself at interview.

I come from a telecoms background where I have work in proffessional services offering network consulting and some business consulting. i would certainly consider myself an expert in that particular industry. I would also consider that I have a good basic skillset and the required transferrable skills. However the Mckinsey analogy is an excellent one and in their situation I probably wouldn't.

If I could convince them that i am what they are looking for, should I be aiming at an associate level role, based on my industry experience? If so what would be the going rate, salary wise?

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#4 RE: Moving into strategy consulting from industry
11/07/2007 14:18

ron to steve (#3)

Yes, I would have thought associate at around £65K + 10-20% bonus and other benefits would be about right. Just my view though!

You may do well to apply specifically for the 'business technology' practices of the strategy firms.. could be a good route in given your specialisms

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#5 RE: Moving into strategy consulting from industry
11/07/2007 15:11

steve to ron (#4)

thanks some useful comments

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