What do people view as the prestige levels of consulting firms now? Of course MBB is still tier 1, but where do the other firms fall in terms of how they’re regarded within the industry? Do you think the pay reflects the prestige?
Prestige is not that important imo. Plenty of people from tier 2/3 consulting firms who have great careers. And yeah i wouldn’t say consultants have a super great rep in tech in general
Probably trying to impress his mother 😜
TC or GTFO
As a software engineer who moved to consulting bcos they moving to "digital", I regret it and dont care about the prestige. Bunch of A in M level tried to looking smarter who even have no idea how REST working but sound expert when talking 'microservice'
Come back to tech. You will love it. Dm me if you need advice
I am in the same boat as you. But I looked at the clientele but sadly the work is shot even for big name clients only use consultants for mundane work. Would love to go back to tech some time soon.
In the tech world, consulting companies that provide software engineering contractors are the absolute opposite of "prestigious". They're considered lower-skilled and lower-status than any full-time engineer. They sit in their own overcrowded & perk-less buildings, with super-bright badges to denote their lower status. They're typically not invited to any meetings, nor do any real design or architecture, and are relegated to menial grunt-work. This was mind-blowing to me when I got into SW engineering. I always thought it was prestigious to be a "consultant". Maybe this is true outside of tech, but in the software industry, consultants are viewed at the same social standing as security guards or cafe workers. It's quite sad, since I'm sure many are pretty smart...
I think you’re referring to a contractor instead of a consultant, which there is a difference between. The type of person you’re talking about is like that one dude in the office
Vendors, contractors, consultants just different words.
Prestige does not mean much once you have started working. For college student looking for a job it might but not for us. As you probably witnessed it is easy to switch from one firm to another. But if I had to answer, I think there is MBB then other strategy consulting firms like OW AT Kearney etc then I would see specialized boutiques and finally the big four. I know in the US the big four are highly viewed but that s just not the case in Europe.
Prestige is still somewhat important when people get to the point of moving out of consulting into other industries
where in europe are you based? in uk& ireland big 4 are still prestigious
TC = all the prestige you’ll ever need.
Can't speak too much about the different tiers and their relevant firms,.. but in terms of pay reflecting prestige: I think it's actually inversely related.. the more prestigious a firm/office is, the less they have to compensate because they know that people will come work anyways. That's why alot of boutique firms will pay more for both banks and consulting firms. They leverage the extra money as incentive. I believe MBB all pay 85k/year and smaller firms like Parthenon pay closer to 90-95k? but this is all at the analyst level.. i have no idea how things pan out for partners
Having worked at M before I can tell you a high performing analyst will make a lot more in bonuses. When I was an EM I had an analyst almost double his salary with his bonus
That’s it? My sister out of b school is making 250k (and refund of her second year of b school as sign on bonus). (This is Accenture’s strategy consulting.) granted b school grads come in at higher level, but I am surprised by the gap.
Deloitte, EY, IBM GBS, PWC all carry more prestige. Some like Accenture and software contract shops less so. The benefit is less about prestige and more about the types of projects. Get to do some very interesting work. And it changes every few months
I worked at two of those previously and worked with people from all. They’re all know it alls who don’t know shit. They put more weight in you having a bullshit MBA than actually being effective and knowledgeable.
If you're asking people in tech, prestige among consulting is like prestige among third world countries.
It’s more like asking dwarfs about prestige levels of elves
Why then you don't see people fighting for a place at McKinsey like you do for big tech?