Consulting Q&A: Salary, Hours, Exit Opportunities, and More!

The video is about answering consulting questions, including salary, hours, exit opportunities, and personal experience.

The speaker is a management consultant and works for a large international consulting firm.

The salary range for an entry-level position is around $100,000 per year, with bonus and employee benefits bringing it to $110,000-$120,000.

Consulting hours can vary greatly, ranging from as little as 2 hours a day to as many as 14 hours a day. Weekends off help make the long hours more manageable.

Compared to investment banking, consulting generally has more manageable hours, with investment banking often requiring 60-100+ hours per week. Investment banking also has tougher hours and typically involves working on weekends.

Exit opportunities in investment banking and private equity can be more lucrative, with higher salary progression and potential share of profits, while consulting offers a broader professional sphere.

🔑 The average consultant leaves the job after two to three years due to higher-paying job opportunities and lifestyle changes.

💼 Interesting exit opportunities for consultants include working for startups, NGOs, or clients they consulted for.

🎓 Attending top-tier business schools like Wharton can play a significant role in getting a consulting job.

🎓 Top universities, such as Harvard, Yale, and UPenn, are highly regarded for recruiting undergraduate consulting and finance jobs.

🔥 Internal competition at top schools can be intense, with a large number of qualified candidates vying for a limited number of positions.

🏢 While attending a top university can provide an advantage in getting a job in consulting or finance, it is not a requirement, and having a strong GPA and leadership experience can make one equally competitive.

⏰ Work hours can vary, but there is generally a good work-life balance, with opportunities to step away from work and enjoy free weekends.

🤝 Collaboration is highly valued, and colleagues at the same level are usually cooperative and extroverted. Managers are hardworking and provide helpful feedback.

The favorite part of the job is making friends and gossiping with coworkers.

Feeling appreciated at work is neutral, with some moments of great appreciation.

Not much flexibility in choosing projects, which is a major complaint.

Interest in working on aviation/transportation and consumer goods industries.

Entry-level consulting involves supporting the process and conducting research.

Life changes after joining a management consulting job, with less personal time and increased responsibility.

Quitting job - knowing when it's time.

📚 In management consulting, it is not necessary to have extensive knowledge on a specific topic to get started. Entry-level consultants support the process and learn from managers and subject matter experts.

🏙️ The best city for consulting depends on personal preference. While coastal cities may have more projects in financial services, non-coastal and southern cities offer a lower cost of living.

💰 Money and the opportunities it can provide motivate the speaker. They work hard in their job and on their YouTube channel to achieve financial freedom and the ability to travel.

💼 Consulting partners who prioritize work-life balance inspire me the most.

🌮 Eating tacos while consulting is a possibility.

🔬 The nature of the work in consulting ranges from routine to nuanced, with a mix of technical and theoretical aspects.

🌍 International travel for work may not return to the same extent as before, as virtual work has proven to be effective.

📈 Most consultants stay at one firm for two to four years before either leaving or specializing within the same firm or another.

🔢 In consulting, teams typically handle one client at a time, but it can involve a significant number of people within that client's business.

🧮 Math skills are important for the case interview but not heavily relied upon in actual consulting projects.

⏰ Consulting can involve long hours, but with travel perks canceled, the worth of the job may be subjective.

👉 Limited travel has been beneficial for the AI's workload and productivity.

🌍 Having the option to work from home or go into the office is preferred in the hybrid model.

🔔 The next video will cover the interview process and provide advice for starting a consulting job.