Should I do consultancy ?

If I make partner the salary would be great. I wouldn't be making much, my other option is medicine which is great due to it being extremely recession proof.

I would start later (at 25 so I'd be four years behind my peers) but I'd be earning a salary higher than my start in medicine in the UK.

  1. 2 weeks ago
    Anonymous

    I'm a consultant. What the hell kind of consultant are you talking about? Your post tells me nothing.

    • 2 weeks ago
      Anonymous

      What kind of consultant are you? And what do consultants do? If I do sales can I be a consultant?

      To OP, if you aren't chad you aren't making partner ever, just fyi.

      • 2 weeks ago
        Anonymous

        See

        Guess you assumed he means business consulting.
        I'm an actuarial consultant OP. Ask me whatever you want I guess.

        I mostly manage other consultants, who make insurance models for clients using actuarial software. We do other types of projects too, but model making is easiest for me so that's what I do.

        • 2 weeks ago
          Anonymous

          Is it possible to do sales consulting? I'm in sales. What's your travel schedule like? Are you flying out monday-friday flying back for sat-sun every week? Status tier? How's the gf or wife deal with it? Are you big 4?

          • 2 weeks ago
            Anonymous

            I didn't travel during Covid but otherwise I go onsite for clients every few months, usually for like 3-4 days. It'll probably increase to every 6 weeks soon though for me. Apart from preparing proposal decks to try and bring in more projects from potential clients, I know nothing about sales. My wife deals with it by taking care of my kid.

            • 2 weeks ago
              Anonymous

              Does sales consulting exist? I'd like to be traveling once every 2 weeks or so, ideally.

  2. 2 weeks ago
    Anonymous

    Lol what?
    Consultancy is maybe the least recession-proof white collar business there is.
    Fortune 500 companies hire consultancies when they have glaring operational and financial inefficiencies that lead to wavering investor confidence.
    It's a complete dog-and-pony show, but investor believe in it because the people involved dress sharply and always use the latest business jargon.
    It's the first thing these companies cut during a recession or broader market downturn.

    • 2 weeks ago
      Anonymous

      Guess you assumed he means business consulting.
      I'm an actuarial consultant OP. Ask me whatever you want I guess.

  3. 2 weeks ago
    Anonymous

    Fuck JANNYS plain and simple

  4. 2 weeks ago
    Anonymous

    hapas truly are the future

  5. 2 weeks ago
    Anonymous

    Are you a charismatic normie who's good at bullshitting? If so, go for it. Otherwise don't bother, you'll never make it. Consulting isn't about how much you know.

    • 2 weeks ago
      Anonymous

      I’ve been told I have charisma by a friend, I’ve also done public speaking since i was young but don’t want to lie to people. I meant medicine not consultancy being recession proof, and I was looking into management consultancy, operations management, strategy consulting etc

  6. 2 weeks ago
    Anonymous

    >if i make partner
    kek. i remember thinking i'd work my way up to partner in a big 4 accounting firm. "THEY MAKE $750K/YEAR!!!!!" i quit after 10 months. professional services firms are white collar n-wordslave plantations.

    • 2 weeks ago
      Anonymous

      What’d you do now ?

      • 2 weeks ago
        Anonymous

        wfh senior accountant. decent hours, not very stressful. i make $100k/year. think i'm going to job hop to a manager role ($120k/year or so) in another year.

        making partner at a professional services firm usually takes:
        1) 12-15 years of extremely hard work with long hours.
        2) good social skills (with respect to your coworkers and to clients) and the ability to sell firm services. you need a book of business attached to your name by the time you're a senior manager.
        3) unwavering dedication to the firm. most senior managers at the firm i worked at did at least one overseas assignment. many did 2 or more assignments. this means uprooting your life (and your family, if you have one) to live and work for 1-2 years in brazil or switzerland or wherever the fuck the firm needs you.
        4) the support of several other partners who will vouch for you. you can do steps 1-3 and still fail because you don't have enough people willing to back you.
        5) the dedication to continue being a wageslave. being partner isn't the end all be all. there's a partner totem pole. new partners at the bottom. then comes the senior partners, office partners, state/regional partners, executive partners, etc. you'll still be eating shit (with a huge salary) and working long hours until you gain more seniority. i worked on an engagement with a fresh partner in his early 30s. he had an infant son and a wife at home. he was traveling around the country all through thanksgiving/christmas/the new year and skyping goodnight to family back home.

        • 2 weeks ago
          Anonymous

          What about at the director level ?

          • 2 weeks ago
            Anonymous

            not 100% sure but my understanding is that (at least in public accounting) it's a consolation prize for not becoming a partner. the salary is more like $250-350k i believe. i was always told that senior manager was "up or out" so it's not like you can be a shitty senior manager and cope by automatically becoming a director after a few years. you still need to be good, know how to sell, play politics, have the backing of partners, etc.

            • 2 weeks ago
              Anonymous

              >up or out
              correct, and if you fail whatever the "tests" are that they give you, you get fired or rotated into a non growth position.

              • 2 weeks ago
                Anonymous

                This seems difficult, wouldn't there be chances to go to a boutique ? Medicine is better in this respect, there will be politics but unless it's really severe im not sure if it plays a huge part in the job, you can always just move elsewhere depending on speciality, or even work locum.

                >never home
                my dad was like that. 3.5 weeks every month out of town overseas, but he was a software executive at the c-suite level. I have a cousin who was partner at Ernst & Young (likely our last name is what helped him get there, our grandfather was pretty high up in the earlier days of the company) and he retired at 35. You know why? He was like 300lbs and super unhealthy. All that eating on the road is horrible for you. My dad was really overweight too. It will kill you, which is why they pay so well. No one under the sun would do the work required for 20 years if the pay wasn't unbelievably good.

                Meal prep ? there's healthy meal prep companies too.

              • 2 weeks ago
                Anonymous

                >meal prep
                it wasn't really a thing in the 80's and 90's when corporate cards were in easy supply. I think people usually try to take care of themselves, which is probably why other anons are saying that the people they meet are "only 40lbs overweight" instead of "150lb overweight".

              • 2 weeks ago
                Anonymous

                It's a thing now though due to the health/fitness surge.

                in most countries an undergraduate is only 3 years. then you can start as a graduate at mckinseys or whatever after having done an summer student internship there or somewhere else prestigious

                Yes, in the uk you can start at 21.

                If you go into medicine you'll end up having to fake being a homosexual liberal pussy or they'll not want you seeing patients, unless you live in a very conservative state and go private practice for yourself. I know some pretty based doctors who aren't afraid to say fuckin stupid commie trannie dykes in front of their entire waiting room. Filters patients out nicely I guess lol.

                I know a guy from my church who I think leans conservative in a few things. As a doctor you're still extremely useful to the team, I've heard stories of surgeons being caught with staff and not being fired which I don't agree with, but that coupled with it being stable regardless of the economy gives it huge points.

              • 2 weeks ago
                Anonymous

                If you go into medicine you'll end up having to fake being a homosexual liberal pussy or they'll not want you seeing patients, unless you live in a very conservative state and go private practice for yourself. I know some pretty based doctors who aren't afraid to say fuckin stupid commie trannie dykes in front of their entire waiting room. Filters patients out nicely I guess lol.

              • 2 weeks ago
                Anonymous

                [log in to view media]

                What a horrific world your mind has created buying into the whole pro wrestling narrative.

        • 2 weeks ago
          Anonymous

          And thank you for the information

        • 2 weeks ago
          Anonymous

          >never home
          my dad was like that. 3.5 weeks every month out of town overseas, but he was a software executive at the c-suite level. I have a cousin who was partner at Ernst & Young (likely our last name is what helped him get there, our grandfather was pretty high up in the earlier days of the company) and he retired at 35. You know why? He was like 300lbs and super unhealthy. All that eating on the road is horrible for you. My dad was really overweight too. It will kill you, which is why they pay so well. No one under the sun would do the work required for 20 years if the pay wasn't unbelievably good.

          • 2 weeks ago
            Anonymous

            I'm a father and a work-from-home actuarial consultant now. I like that I get to spend more time with my son, who is still a toddler, working from home. If I had to choose, at this point, I would absolutely choose to be at home more than take a higher salary.

            • 2 weeks ago
              Anonymous

              Yeah but unfortunately work from home wasn't a thing when i was little. Lots of missed birthdays, Christmas, etc. I always understood why he wasn't there and he always played catch with me when he could but he was always so damn tired when he got home even in his 40's.

              • 2 weeks ago
                Anonymous

                I also like that I had my only son when I was 24, so by the time I'm in my 40s he'll be basically out of the house. Puts me in a good position.
                I'm sorry to hear that. I work extremely long hours now, even working from home, but I'm trying not to be like that. I try to go out of my room and play with kid every time I have a few minutes break.

              • 2 weeks ago
                Anonymous

                good for you man, keep being a good dad to him, he'll remember it, even if there are times when you can't always be there for him.

          • 2 weeks ago
            Anonymous

            i worked at EY. senior managers and partners were split like 80/20 between being 40 pounds overweight, pale, bad posture, and looking 10+ years older than they really were vs cardio health freaks. i personally gained 20 pounds from the stress (as a staff level wagie kek) and shitty busy season meals, traveling, etc.

            not sure how other professional services firms work, but in big 4 public accounting they also force you to retire in your late 50s so you can't really "phone it in" and collect a huge salary as a lazyass senior partner.

            • 2 weeks ago
              Anonymous

              yeah so just more stories of hell working for those companies. I'd rather work as a sales guy, kill my OTE and make fat earnings off commissions and move up into a sales director position and then eventually CRO.

            • 2 weeks ago
              Anonymous

              Oh yeah I met up with a few senior consultants/partners for an on-site thing recently and they were all extremely overweight. It was actually eye-opening for me, since I became a bit overweight too. It was like looking into the future if I keep up my current lifestyle. I even told my wife about it and I'm now dieting hard and purchased a stationary bike.

              • 2 weeks ago
                Anonymous

                well this looks like it was written a homosexual, holy hell. I promise I don't talk that way in real life. I'm "working" and responding at the same time.

              • 2 weeks ago
                Anonymous

                dont forget weight training, literally a pair of 25lb dumbbells will suffice unless you're trying to get huge.

        • 2 weeks ago
          Anonymous

          >WFH senior accountant

          How did you get a job like that?
          How's the work like?

          t.just graduated with a accounting degree

          • 2 weeks ago
            Anonymous

            did 1 year in public accounting + 2.5 years at a medical device manufacturer as an experienced staff accountant. applied to the job i have now on the company's job portal and interviewed well. don't have a CPA but it probably would have helped. the work is typical accounting stuff -- boring but tolerable.

            if you just graduated you might have a hard time getting a 100% remote job. hybrid is definitely within your reach. it gets easier finding a 100% remote role once you get a few years experience, because you're more easily trainable and have baseline knowledge and judgement and skills from prior work/jobs.

  7. 2 weeks ago
    Anonymous

    My advice: Set an exact goal for how much money you want to have before you retire and then quit the second you achieve it. If you need to invest your money to do this, then do that as well. Depending on your situation, you can probably save your entire bonus each year, etc. Whatever it is. For me that's only $3 million. I get that much saved and I'm out, permanently.

    • 2 weeks ago
      Anonymous

      >3 mil to have generate passive income
      You going to do high dividends? Or what?

      • 2 weeks ago
        Anonymous

        $3 million is plenty for me to retire and invest on in my opinion. Also this is $3 million by today's value. I realize that wasn't clear. It has to be by today's value.

        • 2 weeks ago
          Anonymous

          Oh I agree with you it's enough. I just meant what's your investment plan? I would probably just go into a few good high paying dividend stocks and generate 100k/yr or so. Unless you meant you don't plan to generate passive and just plan to live off the principle?

          • 2 weeks ago
            Anonymous

            Oh I see. Yeah I was originally thinking about using crypto actually, and thought DeFi was great, but the events surrounding Celsius have really spooked me. I'm most likely going to go the route of dividend yielding stocks. Sorry I don't have a great answer to this yet.

            • 2 weeks ago
              Anonymous

              my gramps does the high paying dividend stock route himself and he pulls in a few million that way. i think it's probably the safest and surest method of passive income. Good stuff man, hit that goal asap and enjoy life.

        • 2 weeks ago
          Anonymous

          How does one retire on only 3 million while living in a white first world country in a decent area and supporting a middle class family lifestyle?
          For me it’s 10 million until I feel like I could retire, but still won’t unless I hate my work.

          • 2 weeks ago
            Anonymous

            I will lower my standard of living to avoid working 16 hour days. I want out man

          • 2 weeks ago
            Anonymous

            how do you figure 10 million anon? Are you a zoomer because they all seem to think you need tens of millions to retire. 2 mil is more than enough for most, you can easily generate 100k/yr on that and as long as you aren't buying stupid cars and live reasonably with a budget, you can raise 2 kids on that.

  8. 2 weeks ago
    Anonymous

    >consultant

    biggest meme job in existence. Literally just "uhhhhh, IDK how to fix this problem, let's just hire some new grads to think for us"

  9. 2 weeks ago
    Anonymous

    unless you get into a top mbb firm you need to have some sort of skill. either accounting, technology, etc. to get you in and staffed on projects. i am a principal at a larger consulting firm (over 1b revenue) but not mbb. the idea that everyone that is a consultant is some sort of moron who doesn't know anything is bs. lots of bullshitters, but bullshitting is a skill. don't expect to jus join and coast

    • 2 weeks ago
      Anonymous

      Like I said above, actuarial consulting is probably very different, but my "skill" is that I'm really good with one particular software suite and I'm particularly good at overselling just how good I am at it. I have carved out a whole niche around it in this firm so I can appear like the expert.

      Also, when I talk to clients, even directors with far more years of experience than me, they never seem to know anything. If I stopped working every single day at exactly 5:00pm, I imagine I would know about what they do.

      dont forget weight training, literally a pair of 25lb dumbbells will suffice unless you're trying to get huge.

      I'll do this thanks

    • 2 weeks ago
      Anonymous

      I didn't go to any target universities and will likely only be able to apply to a masters for target schools. My best bet is big4.

  10. 2 weeks ago
    Anonymous

    >About to send an email late at night
    >Realize everyone is asleep
    >Set Outlook to "auto-send" at like 5:07am
    >Repeat this process for months
    >"Wow anon you start working at 5:00am?
    Heh. Every time.

  11. 2 weeks ago
    Anonymous

    >I would start later (at 25 so I'd be four years behind my peers)
    People normally start consultancy at 21 in what parallel universe?

    • 2 weeks ago
      Anonymous

      I started at 21, was fired, took 2 years off doing fuck all in a completely different job, and somehow weaseled my way back into the industry through 8 months of cold-emailing and lots of interview practice at about 25. But I don't know anyone else who has managed to do what I did.

    • 2 weeks ago
      Anonymous

      in most countries an undergraduate is only 3 years. then you can start as a graduate at mckinseys or whatever after having done an summer student internship there or somewhere else prestigious

      • 2 weeks ago
        Anonymous

        >Mckinsey
        yeah about that, anyone reading, fyi, avoid mckinsey like the worst plague you'll ever encounter. I know the JQ is a popular topic but Mckinsey is truly where globohomo works before promoting out into politics. McKinsey is very connected to the WEF too. They could offer me 2 mil a year and I'd tell them to fuck off.

  12. 2 weeks ago
    Anonymous

    M&A consultant here, waiting for the recession to jettison me from my job. AMA

    • 2 weeks ago
      Anonymous

      Is there a place in the consultancy world for sales consultants or not really? Also as an M&A guy, you probably do some restructuring as well, what are the first jobs you recommend get cut during, say, this recession we're headed into? Supporting roles, HR, assistants? How far down the list is sales guys that perform?

      • 2 weeks ago
        Anonymous

        [log in to view media]

        >Is there a place in the consultancy world for sales consultants or not really?
        Big consulting firms will "consult" for anything that makes them money. That includes both sales and business development. There are even consultants who specialize in selling an entire companies. You can find this type of job at big firms, and once you're an insider and have a lot of C-level contacts, you can jump ship and do this independently.
        >you probably do some restructuring as well, what are the first jobs you recommend get cut during, say, this recession we're headed into? Supporting roles, HR, assistants?
        No role is recession proof, because when business slows down, you need to cut whatever isn't needed any more because
        >sales pipeline dries up
        get rid of sales guys
        >we can't afford to hire anyone
        get rid of HR
        >we don't need these product features because nobody is buying any more
        get rid of engineering

        >How far down the list is sales guys that perform?
        Barely above sales guys that don't perform. Again if business dries up we don't need as many sales guys.

  13. 2 weeks ago
    Anonymous

    [log in to view media]

    Both are good, which do you think you would enjoy more? The money difference doesn’t really matter at that point. Making 150k with a sweet pension doing what you love trumps 1.5 mil doing what you tolerate.

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