Job Responsibilities
Managing consulting projects for clients, usually about 6-10 at
any one time. About 50% of the time.
New business development activities - meetings with
clients/prospects on areas ranging from introduction to our
services to discussing specific projects they may want us to
do. 30% of the time.
Marketing activities -- speeches, writing articles, attending
conferences and association meetings. Helping coordinate local
market activities for national practice or firm-wide
initiatives. About 10% of the time.
Administrative activities -- billing, setting up client
accounts, documentation of activities, expense reports, etc.
About 10% of the time.
Average work week is about 50-55 hours a week, although it
fluctuates depending on activity level. Peak periods could be
70-80 hours a week.
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Job Requirements
Advanced degrees (MBA or MS in related field) are preferred if
not outright required to advance into more senior positions.
Most associates also have experience working in a corporate
environment.
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Uppers
Variety of work. Ability to serve as a subject matter expert. Consulting
projects are critical to clients, but not likely to ever be in-sourced. Access
to and regular interaction with senior executives and Boards of Directors at
large companies.
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Downers
Administrative details, particuarly billing-related stuff.
Filling out a time sheet every day/week. Wondering where your
next project will come from. Clients can be very demanding.
Extraordinary flexibility. Ability to measure your value pretty
accurately.
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Lifestyle
Work hours average 50-55 hours a week, but peak times can be much higher.
Travel is limited to about one overnight trip per week. Most work is done in the
office, not on site at clients. Some blending of work/social life due to
professional and charity functions.
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Compensation
Salary - $185,000. Target bonus of 25% of salary. Salary
increases have been steady (8% to 10% per year) to reflect
increasing responsibility. Salary in 1995 was $55,000 with a 6%
bonus. Partnership equity is still offered, but not the wealth
creator it once was.
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Advice to Jobseekers
Make sure you enjoy what your doing, since clients want to hire
consultants with deep technical expertise. Job outlook is very
good, although there are threats to the current "big firm"
structure due to Sarbannes-Oxley and continued consolidation.
But if you are successful, you should never have a problem
getting a job and the skills are also in demand on the corporate
side.
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