My REAL Earning after 7+ years at McKinsey (It’s NOT Money) | Long-Term Management Consulting Career

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The reality of a Management Consulting career is very different from what you hear on social media. Most people talking about Management Consulting on Social Media did not spend more than 2-3 years in their management consulting job. The consulting career path is very different for those who work in consulting for 2-3 years and for those who work longer. Not only in terms of growth but also the consulting career progression for these two types of consultants varies.

In this video, I shared my real earning after working 7+ in McKinsey and it’s not money. A long-term management consulting career is all about gaining many more benefits than the high management consulting salary that most people seek. Management consulting in India and management consulting in the US differ in some respects but as far as the long-term management consulting career growth is concerned, you will find more similarities than differences.

In one of my latest videos, I talked about the dark side of management consulting. There are definitely some drawbacks to becoming a consultant for the long term, but there are some benefits too. I shared some of these management consulting career benefits in this video. The first such benefit is the deep connections you can build with your colleagues. In the management consulting space, you work on multiple projects one after the other. The timelines for these projects are very short. So, to have some stability it makes sense for you to work with the same set of people over and over again.

The second benefit of working long-term in consulting roles is that you can change the rules. In my case, analytics consultants are not sponsored to go for an MBA or any other higher education by the consulting firms they work for. But by the time I requested this, I knew many senior managers at McKinsey who were ready to sponsor my education when I asked them. The second thing is that I was able to work in different geographies.

The third benefit is that I could take unpaid time off and pursue some passion projects or work on things that excited me. It is called Take Time at McKinsey. I used to take 3 months off every year and go on to teach in schools or do other activities I was interested in. The next benefit is that you can go back into consulting after you spend a long time at your management consulting firm. You don’t need to prepare for interviews again and go through the tedious process of getting in.

The last benefit is that you gain domain expertise by working in the same firm or role for the long term. So, you can also go and directly join your client organization after leaving your management consulting firm. Hope you find this video valuable, see you in the next one.

Chapters

0:00 - Intro
0:40 - Benefit #1
2:53 - Benefit #2
4:20 - Benefit #3
4:51 - Benefit #4
5:55 - Outro

[ghaniksahni]

Hello Sir I have been following you for a Year now, Your videos are amazing and very Informative . Please keep making such videos !! Kudos to you

[Ayushmohan.]

Thank you Sir, please continue sharing on your experiences

[honchoabhi]

Best wishes - for your noble Initiative!

[abhinandanraj]

Great video sir, I was about to like the video twice, only realising that I had already liked it😅

[prayashpanda]

Suggestion - When you refer to a video of yours, can you post the link to that video in the description?

[unlock]

Sir what is the difference between the big 4 (PwC, Deloitte, EY, KPMG), and Bain, McKinsey and BCG??

There is a lot of confusion about this, would love to get an answer from you.

[AnanyaKasagani]

sir what is the future of a qualified CA, CFA with MBA in management consulting or can you please make a video about this And your videos are informative sir hope you continue to make more content

[zameerahmed]

This was an awesome piece of information abt consulting.

U are an optimistic management professional with tons of hindsight No doubt abt it.

I have a ?n w.r.t "Consulting in the field of Automotive cybersecurity". If anyone starts as a cybersecurity consultant & continues for abt 4-5 years, can he start his own consulting firm after building relationships with managers of different OEM's and companies ? Will it work out or does it make sense to continue as a consultant in some other client org.

[Kumar-qrzh]

What’s the best way to connect you sir and seek professional advices
I’m a Canadian citizen and really like your videos wanted to know some extra infos
If I can your email or any mean of contact that be greatly appreciated