As
discussed in another article on Strategy Expert, the work hours for consultants
are long and hard. Some are not cut for
consulting, and others either burn out or find that consulting does not fit
into their new lifestyle. There are arguments
for both sides - whether that means staying in consulting or moving into
industry.
Arguments
in favour of staying in a consulting position include higher pay and a greater
variety in work tasks. Arguments in
favour of taking a job in industry include better hours and the opportunity to achieve
more in-depth knowledge. More pros and
cons of each position are found below.
Job
Pros
Cons
Consulting
Better pay (typically)
Variety in work engagements
Work with a diverse clientele
Flexible hours (more so when independent)
Gain specialised experience in a variety of fields
Great training and learning of best practice (when with a consultancy)
Challenging work environment
The ability to travel
Keeping career options open
Long hours
Repetitive activities at times
Stressful environoment
Requires people skills
May need to deal with many people - can be a too many chefs in the
kitchen situation
Concern about the actual difference you add (especially when working with
a large firm)
Industry
Better work hours (typically)
Less presurised environment
The ability to formulate in-depth knowledge
Some consultancies offer placement services and networking for those
wishing to make the career transition
The ability to make a tangible difference to the firm (depending on level of seniority)
Boredom! - if you are used to having variety in work from consulting,
then working in one industry may be boring
Lower pay (typically)
Fewer opportunities to travel (typically)
May experience the sensation of being thrown to the wolves in terms of
training
Fewer options in terms of career roles and hours (especially when
transitioning from working as an independent consultant to working with a
company)
Leaving a consulting job will not necessarily sever you from
your current company. Many consultancies,
Bain & Company, for example, have placement services set up to help
consultants wanting to get their feet wet in industry. Part of the advantage of this practice for
consultancies is that it places former consultants, already familiar with
practices of the consultancy, into the industry. Another advantage is that many former
consultants, after working in industry for a period, come back to the
consultancy after gaining valuable and specialized experience.
Before deciding to leave your consulting job to work in
industry, take stock of current life and career goals. Do you simply want more time to spend with family
for a greater work-life balance? Some of
the larger consultancies offer flexible options including part-time work,
extended leaves, and sabbaticals. If, on
the other hand, you want more stability in terms of type of work and experience-or
if a particular industry has caught your eye, then maybe it is time to leave
consulting to go and work in industry.
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