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Retail Banking to consultancy (not a spoof thread)

 
#1 Retail Banking to consultancy (not a spoof thread)
21/05/2008 19:03

FS laydee

Hi all. I am interested in working in consultancy, motivated primarily by increasing my income, in work that I believe that I will find interesting. I have 10+ years working for a major bank across a range of different business areas. I have worked my way up to middle management level in this time from the absolute bottom, currently working as an implementation manager (process improvement) with responsibility for a team of 30. I perceive that my barriers to entering consultancy are as follows:

- Too much time working for the same company

- Academics so/so - 2 x 2:2 undergraduate degrees

- Preference to be based in the midlands (am realistic above travel however having undertaken a previous role which required 75% of time away from home.

- My progression to current level does not seem to match the quick 'up or out' policies that seem to be employed by several consultancy firms.

I would appreciate your input on the following:

- Am I miles off and wasting my time?

- Are there any suggestions as to how I can market my skills more effectively?

Thanks in advance.

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#2 RE: Retail Banking to consultancy (not a spoof thread)
21/05/2008 22:09

--- to FS laydee (#1)

Not another one

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#3 RE: Retail Banking to consultancy (not a spoof thread)
22/05/2008 12:52

FS laydee to --- (#2)

Very helpful..any constructive suggestions please?

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#4 RE: Retail Banking to consultancy (not a spoof thread)
22/05/2008 13:11

sorry to FS laydee (#3)

I think the fact that you have to highlight that this is not a 'spoof' thread answers your own question. Sorry buddy, not in a million years.

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#5 RE: Retail Banking to consultancy (not a spoof thread)
22/05/2008 13:58

Anon to sorry (#4)

"not in a million years" - why not?

Why could a process analyst in retail banking not move into consultancy?

Why the

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#6 RE: Retail Banking to consultancy (not a spoof thread)
22/05/2008 14:14

sorry to Anon (#5)

Number of reasons:

1) "2 x 2:2 undergraduate degrees"

2:2 Generally = no interview in 99% big/decent firms.

2) "My progression to current level does not seem to match the quick..."

Cream rises to the top wherever, so if he ain't done that well at his bank, is he really going to fare well in an 'up or out' culture.

3) "Preference to be based in the midlands"

What banks are going to be based in the Midlands? London baby.

4) "10+ years working for a major bank"

Unproven reactions to change... uh oh.

Again, apologies, maybe saying 'not in a million years' was harsh, and it all depends on the candidate. But slim I'd say.

Slim.

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#7 RE: Retail Banking to consultancy (not a spoof thread)
22/05/2008 14:29

anon to sorry (#6)

there is a small retail banking consultancy in the north-west; they used be called ItemPlus (think now part of chaucer?) a smaller niche firm like this could be more interested in your background and skills perhaps?

worth a shot (unlike John Terry's penalty)

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#8 RE: Retail Banking to consultancy (not a spoof thread)
22/05/2008 15:56

dontworry to FS laydee (#1)

You have some very good experience that im sorry to say some of here that have replied to your thread believe is not useful to a consulting company: clearly they are new grads, still in that phase where they can be arrogant to industry-people, but believe they are still valued by their firm. Its kinda cute :)

To answer your question:

1.)You have plenty of great experience. After ten years degress really dont count that much anymore, really, its all about experience. Translate that experience into a very good CV, put some statistics in there (by how much did you improve processing times for product x, etc...). Get up a blank word document and write a few paragraphs about why you want to move into consulting - read it, redo it, and make sure you cane make it sound saleable.

2.) Contact the HR reps at the companies. I may be wrong but i dont know of too many recruitment consultancies that can help you out in this area.

3.) If there are any projects in the bank that are run by consultants, see if you can somehow align yourself to that project so that consultants have to report in to you, or you have some input into their work. This will allow you to network

4.) Working away from home: in fact, the majority of banking centres are located out of London. London is full of front/middle/back office operations, but processing and other cost centres are located all over the country. Its odd that so many consultancies want you to base yourself in London when, most likely, youll be up in Halifax, or Glasgow (e.g.)

Sum Up: You have plenty of experience, you need to realise that consulting firms want this. you can probably get in at manager level in a consulting company, prove yourself, and work your way up. They may want you for your contacts within the organisation as well as your in-depth knowledge of banking operations. G

Good Luck!

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#9 RE: Retail Banking to consultancy (not a spoof thread)
22/05/2008 17:25

FS laydee to dontworry (#8)

Thanks very much - there is a lot of useful info there to focus on. It's quite apparent that a traditional approach isn't going to get the job done so the ideas suggested are useful. Have a good evening.

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