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Moving in-house from strategy consulting

 
#1 Moving in-house from strategy consulting
18/03/2009 17:51

Anon

I've been offered a role in the corporate development team of a bank after working for about 6 years in strategy consulting. The work is focused on transactions and corporate strategy projects. Reporting line to the Board. Any thoughts on pros / cons. Thanks

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#2 RE: Moving in-house from strategy consulting
18/03/2009 22:28

Marlboro Man to Anon (#1)

I honestly do not understand your post.

Since you are considering the option - I am presuming that becoming a partner is not your ultimate goal in life. A corp dev role in a bank sounds like a real good exit. What is bothering you - corp dev vs. PE vs. line role / money / size of bank?

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#3 RE: Moving in-house from strategy consulting
18/03/2009 23:55

Anon to Anon (#1)

Pros - better work-life balance, more stability of colleague group, more opportunity to see projects through to completion, little requirement to spend time on time recording/billing/sales activity

Cons - little variety of work, little respect from internal clients (this is a feature of internal consulting in banks rather than internal consulting per se.)

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#4 RE: Moving in-house from strategy consulting
19/03/2009 11:00

Anon to Anon (#3)

in many ways a stint in house could accelerate partner prospects on re-entry into consulting?

interesting to hear from those that have made the move re comp - i expect bonuses in house would be higher?

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#5 RE: Moving in-house from strategy consulting
19/03/2009 12:36

anon to Anon (#3)

I made the move to an in house strategy role (telecoms not banking) a couple of years ago and haven't looked back once.

The type of work I have been involved with has always been interesting and pretty varied (you make you own way in a company, bit like consulting, lobby for the best project etc).

Career development has been good, progressed into senior management quickly, as has salary progression and bonus reward.

Real benefits for me have been better quality of life, involvement in projects from start to end and ability to develop indepth knowledge of industry.

Negatives, I ocassionally miss having the odd day or two "off the clock" to recover as this doesn't happen in my role.

In the long run I probably have the option to progress in house (more likely) or go back to consulting if required.

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#6 RE: Moving in-house from strategy consulting
19/03/2009 18:56

Anon to anon (#5)

Very useful thanks. What would be a typical bonus percentage wise in a normal year? Could realistically hope for a board position or would you be limited to head of an area?

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