| Topic Name: |
Future Entrepreneur-Best Route |
| Message Name: |
Hello all you consultants!! |
| Date Posted: |
02/04/2003 |
| In Reply To: |
Working in VC may give you exposure to real entrepreneurs, but it won't teach you much about actually starting and operating a business. You'll be reading business plans and conducting financial analysis and that's about it. I agree with TCO, if you think you want to be an entrepreneur, the best thing to do is start a business. The worst thing that could happen is that the business fails after a couple of years and you go work for a big company somewhere else or you start another business. If you're worried about having a gap on your resume and that sort of thing, then I can guarantee you're not cut out for being an entrepreneur. |
| Message: |
I am thinking about doing an MBA and getting myself into a consulting firm. Part of this ambition is fueled by the salary charts I have seen for consultants at various positions on the internet (eg www.careers-in-finance.com). I figured if you worked hard and put in your time (7-10 years as it proclaims in these afore mentioned charts) you'll one day wake up a Partner/MD/Senior Head Honcho...and make the mid to high 6 figures (1-2 mill with bonuses).
This seems like a sweet deal and I wonder why everyone with a brain, above average work ethic, and a desire to make some dough isn't doing this (aside from being a dentist or a foreign med school trained doctor)? So my questions to all you consultants and possible future co-workers are listed below:
1. Are the salary charts true for the various levels at consulting firms?
2. If you work hard for 7-10 years will you become a head honcho? If not how many years does it take to get on the gravy train?
3. What if everyone at the Big-4 decided to become Partners at their respective firms today. If they all worked hard and stuck at it, would they all get there?
4. What are some of the forces (besides the obvious: layoffs, family issues, health, bad politics) that get people kicked out of these firms
5. What kind of positions do consultants get once they leave their firms?
I guess I am trying to get to the bottom of why people in my "dream companies" have reason to complain? If you get laid off, doesn't that firm's name on your resume still get you jobs any place in industry? Reading these boards makes me feel that not all of you are not exactly happy....
Anyways, I will post this message on other boards withing Vault to find out the answers. I really appreciate all of the respondants time and effort-you should know that many aspiring (money-loving like myself) consultants read these boards and would also appreciate candid remarks.
Good luck and best regards to all of you.
K Diggity
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