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What do you get from working for a Big 5 firm?

 
#1 What do you get from working for a Big 5 firm?
21/07/2001 00:00

George

Hello All -

I see a lot of discussions about which consulting firm to work for, which one is the best, etc..? My question to all of you is the following: What are your requirements/priorities in terms of what you want out of the firm:

Compensation? Travel? Challenging Projects? Great Clients? Recongnition? Culture and Work Environment? Opportunities for training? Reasonable utilization expectations? Opportunities for promotions? Values?

For those of you who have worked for consulting firms and have moved on which one of these were the determining factor for your departure? Tired of being a little fish in a big pond? I have my own reasons but I want to see how well they match up with yours.

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#2 RE: What do you get from working for a Big 5 firm?
06/02/2018 12:07

FFGroup to George (#1)

That's We Call Perfection

Hello All -

I see a lot of discussions about which consulting firm to work for, which one is the best, etc..? My question to all of you is the following: What are your requirements/priorities in terms of what you want out of the firm:

Compensation? Travel? Challenging Projects? Great Clients? Recongnition? Culture and Work Environment? Opportunities for training? Reasonable utilization expectations? Opportunities for promotions? Values?

For those of you who have worked for consulting firms and have moved on which one of these were the determining factor for your departure? Tired of being a little fish in a big pond? I have my own reasons but I want to see how well they match up with yours.

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#3 RE: What do you get from working for a Big 5 firm?
01/03/2018 06:44

Adnopsis to George (#1)

I will give a point by point framework(y) reply on how life resembles at MBB firms. I work at one of those for as far back as couple of years and have part of companions from IIM who work at the other two, so extremely very much aware of the work culture. Note that all answers are from the point of view of a MBA procure, which is 1-2 yrs in front of an IIT enlist.

General work: Strategy counseling firms, particularly MBB ordinarily help CXOs and Corporate sheets in sovling key issues and setting long haul bearing. This could run from creating methodology for deals increasing speed to resuscitating benefit in a specialty unit. Accomplices and principals are ordinarily in charge of building up a speculation reply through abnormal state exchanges (E.g. In a benefit chase case, the speculation may involve that association has turned out to be excessively mind boggling due, making it impossible to mergers and there is abundance headccount, combined with overabundance IT spending and extra limit in a couple of distribution centers). Distinctive specialists and little teamlets inside the group would be reponsible for getting to the profundity of these issues and prescribing focused on arrangements. The engagement chief/venture pioneer/case group pioneer would ordinarily deal with the everyday running of the group and ensure that the general answer is in a state of harmony, and deals with the key customer connections. Partners would build up the appropriate response in view of the examination of customer information, directed meetings with pertinent customer contacts and statistical surveying.

Strategically what takes the necessary steps resemble: Cracking a case would regularly include part of customer interviews (relationship building abilities end up basic), information crunching and Excel demonstrating (need solid business judgment to legitimize every one of the presumptions you take, not at all like business college where you can be remiss with them), statistical surveying (paid meetings with advertise specialists, client studies, field visits, plant visits and so forth.), contender benchmarking. In light of the bits of knowledge, you will create proposals - to a great extent off what appears to be consistent, in view of what neighborhood/worldwide contenders are doing and in view of past involvement of the firm (all organizations have a major information database of past cases, what worked, what techniques were received). All that at last should be converted into lively slides that convey every one of the bits of knowledge and suggestions in a simple and hard-hitting way. And after that it is up to the specialist/administrator/accomplice to convey it to the significant customer in different gatherings and workshops.

Long haul profession openings: Given that you deal with CXO-level issues, one hones their critical thinking aptitudes and capacity to center around the 10,000 foot view things. You additionally wind up incredible at working with individuals at various levels of the association and sharpen your kin and relational abilities. Also the endless Excel models and slides you would make are precious to generally associations. Subsequently, specialists are extremely looked for after even 1 yr into MBB counseling vocation.

One can stick around and advance up to accomplice. Average way is 2 yrs as a lesser partner, 2 more years as an Associate/specialist, 2-3 yrs as Engagement administrator/Project pioneer/Manager, 2-3 yrs as Principal and afterward onto organization. Not all would make it as just the best make it up each level and rest are advised out, or abandon themselves. There are part of leave open doors as Associates in PE firms, Senior administration in new businesses, Mid/Senior administration in corporate system parts. You will get crazy number of LinkedIn asks for all through your MBB profession.

Associates: Working with the best and brightest is one of the colossal advantages of counseling. MBB firms just contract the best ability from B-schools and IITs - you may have the best rankers at IIMs/IITs, that mainstream gen-sec from ISB, that road brilliant DU fellow from IIM working close by you. As extensive measure of ability comes through grounds enlistment, individuals who consolidate shape close bonds - numerous a times even your closest companions would be your associates at the firm. Life is extremely collegial inside MBBs.

Work culture: MBBs are not as various leveled as a common Indian corporate and you will have incredible access to accomplices and initiative group. You will likewise get a considerable measure of freedom by they way you need to approach your particular workstream. There is additionally a great deal of interest in individuals advancement as MBBs blossom with apprenticeship and the rationality is ordinarily that an administrator/accomplice will just succeed in the event that they help their advisors/partners succeed.

Prizes: MBBs offer extraordinary compared to other remuneration for Indian graduates. Just venture keeping money and PE firms offer better CTC bundles. CTC (counting reward, which can be 15-20% of general CTC and payout can be 50-200% relying upon office and individual execution) ranges from 25-35L for partners, 38-50L for advisors, 55-70L for EM/PL/CTL/Managers, 80L-1Cr. for Principals and accomplices can make somewhere in the range of 1-10 Cr. contingent upon rank and the measure of business they acquire. Aside from this, there are incalculable aircraft and lodging miles - specialists just travel full administration carriers and remain in Sheratons and Marriotts of the world . You likewise get the chance to be in an indistinguishable rooms from any semblance of Ambanis/Tatas/CEOs of the BSE 30 firms - which is incredible introduction. There is likewise a ton of status thankfulness among your B-school and IIT partners.

Presently, going to the not very great parts.

Travel: Given that counseling involves taking care of the issue together with the customer and by watching what is occurring at customer areas/deals outlets/plants, the activity includes 60-70% go on a normal. On a normal travel case (3 of every 4 possibility, unless your customer happens to be in the Metros where most MBB workplaces are), you will fly out on a 7 AM Monday flight to customer area and commonly return on a Thu evening flight. Contingent upon customer area, you may remain at an organization visitor house or a favor Sheraton or Westin. It may sound fun - the stream setter life, however sooner or later it gets extremely exhausting and debilitating. Living out of a bag isn't fun once you've done what's needed of it, and if there is family sitting tight for you back home - the impact just winds up exponential. Given the extend periods of time and exhaustion, you will scarcely motivate time to converse with your significant other/kids/gf/guardians thirty minutes or so daily. Additionally, having nourishment in eateries 4 days seven days can rapidly move toward becoming breaking down from a wellbeing viewpoint.

Work-life adjust: India is as of now one of the most diligent nations on the planet, join that with the additional weight of desires from million-dollar counseling assignments, standard due dates and not really used-to-counseling customers, work hours can without much of a stretch reach out from 65 week by week hours on a normal to anyplace around 75-80 hours in the weeks paving the way to customer gatherings. Accepting general work begins at 9 AM and you end mid (6 PM) on Friday, Mon-Thu can be a 9 AM - 11 PM circumstance on generally days. There are ventures/weeks, where a 1/2 AM complete on all days of week isn't incomprehensible. Additionally, you need to always be figuring what you would do straightaway and plan for the week ahead on Saturday/Sunday. And after that there can be arbitrary demands on ends of the week if a customer getting blows together or there is a vital gathering on Monday for which the slide deck should be pulled together. Excursions can't be asked for on an impromptu premise and you need to design weeks, if not a very long time ahead of time for taking even seven days worth of leave. Great companion getting hitched around the local area, youth bestie is nearby for a couple of hours however there is work to be done - overlook your own life on the weekdays. Family life can inflict significant damage and a major one at that - I have known about separations, breakdowns, kids winding up unapproachable from guardians since you get 1-2 days at max with them in seven days. What's more, there is the entire wellbeing viewpoint - individuals leaving due to back agonies, slip circles is a typical marvel as you barely get an opportunity to center around your body and exercise.

This answer is simply from an INDIAN viewpoint as counseling in develop counseling markets like US and Germany is totally unique. As counseling firms need to rival any semblance of Schneider and Walmarts who can pay similarly great cash and a similarly remunerating vocation, the attention on supportability and work life adjust is tremendous in those nations. In India, there are not really any leave choices which will enhance your life and still pay even 60% of what counseling does - so accomplices and customers can influence the specialists and investigators to granulate to the maximum. On the off chance that you are an exceptionally aspiring person who cherishes communicating with individuals, taking care of issues together and needs to have a magnificent and fiscally remunerating profession loaded with learnings and hello there vitality board room gatherings, at that point counseling is an extraordinary long haul vocation. On the off chance that you think a particle about your wellbeing, family and work-life adjust, wear out can be snappy and hard hitting.

The vast majority I know stick around in counseling in India as there are relatively few leave alternatives for these high-flyers who can coordinate the compensation and give them better work culture. There are not really any individuals who joined nearby me who still need to be an Engagement Manager, leave separated an accomplice as they have had their offer of torments inside 2 years of counseling itself.

Source: Adnopsis

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