Since the beginning of my career, I have had the opportunity to work in various environments, starting in a large strategy consulting firm before venturing into a private equity fund, and for the past few years, carving my path in companies, initially a SME and most recently a blue chip company. Through these successive experiences, I have gained a better understanding of the connections between these different environments and the value professionals can bring by crossing them. This article is thus the first in a series.
Today, I would like to focus on the transition from the world of strategy consulting to that of the corporate world, a path followed by the majority of consultants.
Obviously, the descriptions here are primarily intended to provide a simplified portrait of the major strengths and weaknesses of consultants when they join the “real” corporate world. Each situation is unique, and there are exceptions to the mentioned trends. Additionally, this article represents only my personal and therefore subjective opinion. I am more than open to debate and discussion!
Before beginning, it’s important to highlight that the role of “strategy consultant” actually covers very different realities depending on the level of seniority: from a junior consultant expected to perform precise analyses and communicate clear conclusions, to a team leader managing client expectations and their consultant team, and finally to a Partner developing close relationships with a client portfolio, usually within a specific sector, identifying the client’s specific problems, and structuring (and selling!) consulting missions to address them. Therefore, it is natural that the skills former strategy consultants bring to their new employer also evolve alongside this hierarchical progression.
However, the consulting world possesses certain characteristics that transcend roles and develop skills in consultants of all levels that are appreciated by companies: the ability to juggle multiple priorities within tight deadlines, facing frequently changing issues, in an intellectually and physically demanding environment.
For many junior consultants (from the Associate grade up to Senior Consultant, which precedes Project Leader), the experience in a consulting firm is their career’s first. Outside the firm, they gain exposure to the corporate world through their assignments. Here again, the relationship they maintain with their client contacts, often very formal and limited, does not allow them to get a true sense of the diversity of profiles that make up a company.
Unsurprisingly, former junior consultants excel in structuring and solving problems, analytical power, synthesis and communication skills, both written and verbal. Thus, it is not surprising to see these individuals excel in roles as generalist “individual contributors” of internal consulting. This first role should be seen as a transitional phase before moving to more complex human and emotionally challenging roles.
Indeed, former strategy consultants often exhibit a gap between their intellectual skills, for which they were initially recruited and which they have enriched during their early career years, and their human skills (empathy, conflict resolution, team management, etc.), which often primarily develop through experience.
At a Project Leader or Principal level, strategy consultants are often appreciated for their ability to manage teams with high intellectual potential and, in some cases, for their sector expertise. Consequently, they are often called upon to lead transformation teams or internal consulting, and their interaction with high-level managers allows them to strengthen their emotional quotient before making the transition to a role managing P&L and a more diverse team.
Finally, at the Partner level, companies seek genuine sector expertise, and possibly a network of contacts. Indeed, the Partner operates for several years in a limited number (at most) of industries and functions that enable them to quickly identify the source of a problem and deploy resources (internal or external) to solve it. Former Partners usually occupy an executive committee level role, often in strategy, sometimes in finance or managerial responsibility roles, the latter two being more common when the Partner has prior corporate experience.
In conclusion, the contribution of former strategy consultants varies greatly depending on their level of seniority. However, in all cases, an experience in strategy consulting enables one to develop specific intellectual skills, such as critical thinking and analytical abilities, as well as in-depth knowledge in particular sectors that can be highly valued in the corporate world. The creation of optionality is a major attraction factor of this career path.