/biz/ - Business & Finance

>>50147666
>what the fuck does a management consultant actually do

they get people fired

>>50147688
is it worth applying to when I finish uni? I was gonna go into cyber security but they're accepting applications with any degree for management consulting. and if my cousin got in it can't be that hard right now

>>50147666
Make overly complicated Excel spreadsheet "models" with overly optimistic assumptions to show how much money companies can save by firing people.

>>50147666
ask him why he wasn't smart enough to get into mckinsey, bain, or boston capital.

>>50147666
When a company is run by retards, they hire a consulting company to figure out and solve problems including how to perform internal studies and managing over major projects.
It’s basically contracting the work they should be doing themselves to another more reliable and smarter group of people so they can feign responsibility. Deloitte, PWC and the others hire booksmart people to be slave wagies to do this kind of work and make them do 16-18 hour days regularly for 10 years before offering them a partnership to make 300-400k a year but your life is a living hell until you reach that point.

If you want to be a whoreslave for a company that will fire you if your performance drops by 2% y/y or you start losing clients, then these companies are perfect for you.

>>50147757
megacorp that i work for has a more or less perpetual technical consulting agreement with deloitte. we pay god knows how much for literal pajeets in india -- excuse me, SAP CONSULTANTS -- to do never ending SAP projects. no matter how much they do the needful, the projects always fail. we're running 3 concurrent implementations of SAP and they all suck dick, have issues, and don't really talk to each other.

>>50147666
Sounds like he’s dealing drugs or sucking someone’s cock

>>50147794
sirs don't be a benchod mardarchud and do the needful *Head bobble*

>>50147666
>oh great a free mason picture

>>50147666
>he's making bank tho
Doubt.jpg unless you compare it to some wagie job (like burgerking or target).

I worked as a management consulted for Deloitte 10 years ago. They were charging 600 euro a day to the client for me while only paying me 30 grand a year. Bros from Spain were getting an even rougher deal. This is why they can still afford to pay for people's flights and hotel stays. Not only is it a business expense for them but it's fuck all in the grand scheme of things (especially when it was only for the first few weeks of a new client).

It's only now people that started two years before me have made 'partner' (where you get a proper 6 figure salary and shit). But that's 12 years. Which is shit considering it only took me 5 years to get to 135k just working for companies directly (with better benefits as well).

>>50147666
will the consultant bubble burst in the upcoming recession? i feel like its only going to become worse before it gets better

>>50147757
>>50147794
OP here, that does sound shit although my cousin only works 8-10 hours a day. He's only been there 8 months though. 400k is insane. Is money everything when it comes to career? As a student I'm having a really hard time picking something. I've spent most of my formative years on 4chan and talking to other weirdos so I feel like I'll struggle a bit with the social aspect of being around neurotypical people.

Could I make anywhere near consultancy partner level as a high level cyber security specialist, or CISO? I don't know. But then the tradeoff is remote work and being part of tech subculture.

>>50147888
He is on £38k a year and will be on £45k after promotion cycle in a year's time. After 3 years most of them hit SC and they're currently paying SCs £55k-£60k. Sure that's not insane money but after 3-4 years that's really good here.

>>50147888
what did you exit to? Not OP but I'm an SC trying to get into product management in tech. Insane competition.

>>50147889
In the last recession:
>they slowed down hiring massively, also cut staff that weren't 'billable' (i.e. HR/admin/recruitment)
>gave everyone a 10% pay cut
>they reshuffle people to other parts of the business (try to bill them to some other client)

>>50147926
their business model literally is paying you as little as possible while billing you for as much as possible while trying to get you to work for as long a hours as possible to squeeze the most out of you. you cut out the middleman, you'll be making more.

>>50147941
you want to earn a lot of money, go into product management via the 'engineering' route if you haven't done actual management for years yet (being a manager at the big four doesn't count for much). the market is oversaturated with non-technical people trying to get into product management (who will work for less). most of them have no clue how to talk to developers.

>>50147666
They get paid to tell the board that what management wants to do is a good idea.

>>50147888

I am a consultant and I will never do this shit again. The staffing agency charges globohomo $75/hour and I get $35/hour with no PTO or benefits.

>>50147666
Big Four consulting is mostly about the prestige of the name. Consulting just means "assisting in project management", may that project be smaller scale or on corporate strategy level. Might even be just to "validate" an opinion and direction.

Big corp pay ungodly amounts of money so they get their ideas rubberstamped by one of the big names - Deloitte, PwC, Ernst & Young, KPMG. It's lends an air of legitimacy and makes your decision carry more weight if you have to justify it to shareholders/investors/oversight committees.

All of this doubly counts if its a financial or compliance audit being outsourced and performed by a consulting agency. It's allegedly "more independent" and "trustworthy" compared to an internal audit (when in the end of course Deloitte is gonna give you a clean slate thats what the big bill is for)

>>50147846
>head bobble
hahahaha spot on m8

>>50147666
>>50148815

Regarding what the individual consultant actually does, it varies highly. A lot of work probably works towards some kind of producable report, so leading up to it, a lot might be just meetings with different departments of the client, reading/analyzing or maybe even creating documentation, researching technical/legal/financial data (company internals or industry specific). But yeah, a LOT of meetings to gather the right people, coordinate with the client and it's departments, and then get everyone on track trying to locate or produce the data thats needed.

>>50148815
>>50148962
>>50147757
is it actually worth doing at the start of career as a fresh grad then?

>>50147666
Had a gf who worked in one of the big three. It's literally stupid monkey shit, they sent her out to things like groceries to audit them - basically interview the retards and go through a checklist. Good money to fire people.

>>50147757
Anon your not getting it, projects that are to hot to handle you outsource to external parties. If the project is a succes its because you hired them, if they fail its because the external party failed to deliver what was agreed.

>>50150407
.

>>50150407
If you don’t mind the crazy working hours it can be rewarding. Very very few people make it to partner and it’s not guranteed.
The one good thing about working there fresh out of college is that companies like Deloitte operate to shape you into their perfect employee. If you switch jobs down the road you’ll be rewarded better for the experience.
Year over year salary is like this if you work your ass off, my best friend irl works for Deloitte and this has been his standard progression up
65k years 1-2
80k years 3-4
105k years 4-7
Then he’s expecting 140k 7-9
And then he gets eligible for close to partner after year 9 making 200k until they decide to offer him partnership.
From his experience if you start to get comfortable or slack off even a little where the chynees actuaries can determine a drop in performance then you’ll stagnate at those salary levels.
That being said, you get a lot of cool benefits and travel around the US regularly depending on your specialized industry within the company. Like you could be a chemical engineer working at Deloitte or the others getting clients for different chemical plants or get a degree in IT doing cyber security consulting so like you specialize within the company

>>50147666

Currently management consultancying. Basically just talk to people and put what they said into a PowerPoint slide deck.
It is soul destroyingly pointless work but businesses love to pay millions for these slide decks.

>>50147888
You’re lying my friend works at Deloitte right now and making 100k as a tech consultant.
>>50148588
I’d kill for 35 an hour I’m a lowly analyst not even consultant level and they pay me 23 an hour lol. I’ve only been there 6 months so if I don’t get a raise in the next 4-5 months I’m gonna start applying elsewhere. I’m learning a lot and getting good experience but hours are shitty and my pay is awful.

>>50150407
The experience is great getting to work with big tools like SAP, AWS, SQL server etc in tech and doing stuff like making documentation on tasks and serving big name companies looks solid on your resume if you decide to jump elsewhere. I’ve learned more at my gig in 6 months than I did in 2 years working as basically a system admin for a 100 person healthcare company prior to getting into consulting.

>>50147666
I want to eat her skin

>>50147666
Imagine the smell

>>50147688
checked. it's all about teamlining efficiency metrics and key value drivers.