MBA Admissions Consultant
Joined: 26 Dec 2008
Posts: 2457
Given Kudos: 2
Location: Los Angeles, CA
Re: Industry job or consulting?
[#permalink]
09 Jun 2010, 17:48
From the many people I've dealt with and seen through the years (alums, ex-clients, friends, acquaintances, etc.), the biggest difference I've seen is that those who went to industry have had a more stable life/career - less job hopping, less moving around - and a good number staying with the same employer since they graduated. With the consultants, most leave after 18 months to 2 years, and tended to have jumped around a bit more. It has more to do with the personality type that self-selects into these fields -- those who tend to know what they want and are a little more "settled" tend to go into industry (and also a little older). Those who tend to be more "open" (or not knowing what they want) and are a bit more restless tend to go into consulting first, and may take a bit longer to find their place in industry than those who went into industry from the get go.
Consulting is a great job to pursue when you don't really know what you want to do. Those who tend to enjoy it the most tend to be the most open-minded about the kinds of work they want to do. Those who hate it tend to be those who have a specific industry/job function/etc that they wanted, but were too chicken to go for it and settled for consulting instead. Keep in mind that while certain offices will have a higher concentration of certain clients (i.e. NYC office = more financial services, NJ office = pharma, Dallas/Houston = oil & gas, Palo Alto/SF = tech, etc.) as a junior employee whose job is to be on the client site, you can get redeployed wherever the firm needs bodies -- and when the job market (and economy) sucks, there's simply less consulting work to go around, and can't say "I will only work on telco projects because that's what the hiring manager promised me when I interviewed" -- if there is a lot more work in the coal & mining industry, that's where you'll likely be staffed on. They can't staff you on projects that aren't available or don't exist (because the partners couldn't bring them in). And then once you've worked on *one* project for a coal company and you do a great job at it, you'll get staffed on more coal projects. And yet, you wanted to be a telco guy when you were first being recruited. This applies to the "generalist" pools and not the specific industry practices that some firms will have -- but even then, just because you're an associate in the tech group or the healthcare group doesn't mean that you're *guaranteed* to be working only on those engagements. If there isn't enough work to go around in your practice, you will get staffed on other projects that may be outside what you thought you'd do (and then you gain "expertise" in an industry you have no interest in). Again, you can see how this job will be good if you're open minded about industries - but less likely if you have specific interest.
With industry, it's structured to be a bit more steady. Especially the rotational programs - they want to know that you're there for the long(er) haul. No one expects "the company man" anymore where you're there for 25 years, but they want to know that you're at a place in your life where you're not interested in job hopping anymore (i.e. you're staying 5+ years and you don't make job/career moves lightly). They won't say it outright, but they are hoping for someone who is married and has a family (or is starting one) - it's a stronger sign that you're not going to jump ship after 2 years compared to some single dude who is interested in the bachelor life of a big city.
In any case, long story short (regardless of whether you're married or single) - consulting is a great place if you're still unsure about your career goals, whereas industry is a better bet if you know what you want.