Someone in management consulting, accouting, etc. help.

[Yadster101]

So I know that sdn has a diverse group of med students with previous careers in many different field which is why I was hoping that someone with a business background could explain some stuff to me.

I was always told by my accounting friends, at a top tier state school, that "advisory" jobs at Big 4 firms were prestigious and led to great careers. I recently scrolled though linkedin and saw that a girl that that was in my bio major ended up staying at my former college to do a 1 years MS in Tech Management and now she's an "Advisory Associate" at a big 4 firm. I was pretty shocked she landed such a prestigious job because her original grades, when she was pre-med, were pretty bad.

So my question is: Is "advisory" at a big 4 firm really that prestigious? After doing some research, it seems like she's pretty much guaranteed to get raises till she hits like the 130k+ mark after 10ish years. At this point she could leave the big 4 for a more "cush" job that makes as much as a primary care doc. Her lifetime earnings would also far exceed a primary care doc because she never has to face the opportunity cost of med school + residency.

Im just kind of shocked to see that someone who would even describe herself as "lazy", in UG, is on such a successful trajectory.

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[MD89]

Eh, I wouldn't call it particularly prestigious. As someone who has been on that side of things (I'm a non-trad, applying this summer), I have somewhat of an insider's perspective. It's not terribly hard to be hired as an associate - it's harder to keep moving up the chain as the work can be draining, boring, and demanding.

I would say yes, salary-wise, she can hit 130k in about 10 years (depending on her market) but you are examining this from a very linear perspective. First, that requires that she actually keeps getting promoted. At a Big 4 firm, the mentality is either "up or out". So if she's not doing seriously good enough work to be promoted consistently (10 years would mean promotion from associate-->senior associate-->manager-->possibly senior manager/director), she would be let go. At a Big 4 (and most large "prestigious" firms), her colleagues for the most part are going to be VERY bright and motivated and there's no way she can BS her way into multiple promotions.

Additionally, you have to realize that this type of career is most definitely NOT for the lazy. While the hours vary, again depending on market (and particularly the projects she's put on), she's generally going to have put in some serious overtime many, many times. While it's hard to give a ballpark figure, 60-70 weekly hours at a time is not unusual.

Hope this helps! The grass is most definitely not always greener.

 

[repititionition]

It's a little late to be realizing that many people will work much less than a doctor and do just fine in life.

I have written extensively about this topic. Too lazy to link, but I'm sure you can find the threads.

 

[Psai]

If you have to ask if it's prestigious, it's not prestigious

 

[futuremdforme]

If you have to ask if it's prestigious, it's not prestigious

Wrong. It is prestigious and the job prospects are very good.

Even if this girl was lazy before, she's not now if she's working as an advisor/consultant at one of these firms.

Good grades don't really matter outside of academic careers/professional degrees and they're not a measure of performance. Even Google doesn't care about GPA anymore.

 

[ACSurgeon]

Wrong. It is prestigious and the job prospects are very good.

Even if this girl was lazy before, she's not now if she's working as an advisor/consultant at one of these firms.

Good grades don't really matter outside of academic careers/professional degrees and they're not a measure of performance. Even Google doesn't care about GPA anymore.

well paying does not equal prestigious.

 

[Psai]

Wrong. It is prestigious and the job prospects are very good.

Even if this girl was lazy before, she's not now if she's working as an advisor/consultant at one of these firms.

Good grades don't really matter outside of academic careers/professional degrees and they're not a measure of performance. Even Google doesn't care about GPA anymore.

Have you ever asked if Harvard was prestigious? Yeah.

 

[Microshaft]

I wouldn't really call it "prestigious." But that's up for debate obviously. Some people might think med is prestigious, while others might think omfg u have to deal with smelly ppl? lol

advisory is not a bad job. Though it does depend on the specific clients ur team gets, etc.

 

[DokterMom]

Eh, I wouldn't call it particularly prestigious. As someone who has been on that side of things (I'm a non-trad, applying this summer), I have somewhat of an insider's perspective. It's not terribly hard to be hired as an associate - it's harder to keep moving up the chain as the work can be draining, boring, and demanding.

I would say yes, salary-wise, she can hit 130k in about 10 years (depending on her market) but you are examining this from a very linear perspective. First, that requires that she actually keeps getting promoted. At a Big 4 firm, the mentality is either "up or out". So if she's not doing seriously good enough work to be promoted consistently (10 years would mean promotion from associate-->senior associate-->manager-->possibly senior manager/director), she would be let go. At a Big 4 (and most large "prestigious" firms), her colleagues for the most part are going to be VERY bright and motivated and there's no way she can BS her way into multiple promotions.

Additionally, you have to realize that this type of career is most definitely NOT for the lazy. While the hours vary, again depending on market (and particularly the projects she's put on), she's generally going to have put in some serious overtime many, many times. While it's hard to give a ballpark figure, 60-70 weekly hours at a time is not unusual.

Hope this helps! The grass is most definitely not always greener.

Agreeing with @MD89. I also spent a number of years in that world, and my experiences were very similar. The "prestige" factor is variable by firm and field, but basically, you're a "Management Consultant" which has generally, in my experience been fairly well-received except in those instances where it's a fancy faux-title for "Sales Consultant".

It's not a place for the slow-minded, and not a place where the lazy thrive for long. Unless you channel that 'lazy' into work-smart, not-hard, but still very long hours for the first 5-10 years. The money is good. Not IB level, but quite good, and the career prospects for life after advisory are also quite good. Better as you move up the chain to the Manager/Director level, which is where the big 'Stall Here or Move Out' decision usually happens. From there, many go on to 'Corporate or Regional VP of...' type jobs. While intelligence and hard work are key at the low-to-mid-levels, as you move up the food chain, it's salesmanship (rain-making) and internal politics that usually make the difference between stalling at manager and advancing to partner.

 

[lmn]

Agreeing with @MD89. I also spent a number of years in that world, and my experiences were very similar. The "prestige" factor is variable by firm and field, but basically, you're a "Management Consultant" which has generally, in my experience been fairly well-received except in those instances where it's a fancy faux-title for "Sales Consultant".

It's not a place for the slow-minded, and not a place where the lazy thrive for long. Unless you channel that 'lazy' into work-smart, not-hard, but still very long hours for the first 5-10 years. The money is good. Not IB level, but quite good, and the career prospects for life after advisory are also quite good. Better as you move up the chain to the Manager/Director level, which is where the big 'Stall Here or Move Out' decision usually happens. From there, many go on to 'Corporate or Regional VP of...' type jobs. While intelligence and hard work are key at the low-to-mid-levels, as you move up the food chain, it's salesmanship (rain-making) and internal politics that usually make the difference between stalling at manager and advancing to partner.

Definitely not for the lazy, it's tough to survive past the 2 or 4 year marks in those jobs when they work you so hard. Especially if you don't fancy spending the majority of your life flying, living out of a suitcase, not being able to see your family/friends.

Also working at a Big 4 is definitely a big track to be able to transfer out to other companies into good positions. So it can also be considered "prestigious" or a box that needs to be checked in order to get to where you want.

 

[Doudline]

Have you ever asked if Harvard was prestigious? Yeah.

Have heard many laypeople ask whether WU Saint-Louis or JHU med are prestigious... whether the Curtis Institute of Music is prestigious... whether Georgetown international affairs is prestigious, etc.

All institutions/program at the top of their field.

College is perhaps the only part of the academic world which does not evolve in a microcosm -because we all personally know someone who is in college, and it's frequently on the news etc-, which explains why so many know the household names.

 

[Psai]

Have heard many laypeople ask whether WU Saint-Louis or JHU med are prestigious... whether the Curtis Institute of Music is prestigious... whether Georgetown international affairs is prestigious, etc.

All institutions/program at the top of their field.

College is perhaps the only part of the academic world which does not evolve in a microcosm -because we all personally know someone who is in college, and it's frequently on the news etc-, which explains why so many know the household names.

So it's prestigious for the people in those fields but in general they're not

 

[Ad2b]

I worked for 3 of the Big 4; 1 as a sr consultant and that one before the collapse of Enron and Arthur Anderson, so before it had to spin off it's consulting organization. I worked for two of the remaining Big 4 as a sr. director and partner. Both in the advisory capacity.

Getting into the Big 4 out of college is a big deal. We screen hard. Many do not make it in and those that do, are weeded out regularly. We do not fire unless it is egregious but we do "counsel out" on a yearly basis if not semi-annual.

In the business world, Big 4 = gold mine IF you can stay for at least 2 years and get promoted. It is a churn/burn method, it is political, it is grueling, it is long nights without direction... if one cannot handle the environment, it can be he@#. I vowed after the 1st never to sell my soul to the devil again.

But... SOX came calling. I'm a single mom. The $$$$ were there. A nice lunch, and a bottle of wine and I was seduced back to the dark side.

No regrets. That little pedigree keeps me employed, in consulting with my own business. No one questions my capability because without the Big 4, I'd never be able to do what I've done. As for salary, I was a that rate in the late 90s, as a sr consultant. I will not disclose what salary level I ended at. So do not ask 😉

And no, I will never, ever, ever, never ever... ever! ... go back.

 

[Microshaft]

I worked for 3 of the Big 4; 1 as a sr consultant and that one before the collapse of Enron and Arthur Anderson, so before it had to spin off it's consulting organization. I worked for two of the remaining Big 4 as a sr. director and partner. Both in the advisory capacity.

Getting into the Big 4 out of college is a big deal. We screen hard. Many do not make it in and those that do, are weeded out regularly. We do not fire unless it is egregious but we do "counsel out" on a yearly basis if not semi-annual.

In the business world, Big 4 = gold mine IF you can stay for at least 2 years and get promoted. It is a churn/burn method, it is political, it is grueling, it is long nights without direction... if one cannot handle the environment, it can be he@#. I vowed after the 1st never to sell my soul to the devil again.

But... SOX came calling. I'm a single mom. The $$$$ were there. A nice lunch, and a bottle of wine and I was seduced back to the dark side.

No regrets. That little pedigree keeps me employed, in consulting with my own business. No one questions my capability because without the Big 4, I'd never be able to do what I've done. As for salary, I was a that rate in the late 90s, as a sr consultant. I will not disclose what salary level I ended at. So do not ask 😉

And no, I will never, ever, ever, never ever... ever! ... go back.

it's not like someone's gonna stalk u just cuz u said u earned 200k/yr
just sayin

but yea i'd agree that for a 1st job, big4 is kind of a big deal. Others who couldn't get in would go to 2nd tier firms and obviously if your starting point is lower, you have catching up to do. But to answer OP's question, working at an i bank is probably at least 2x more "prestigious" than at big 4

I don't know about in the US, but here its basically a mini-pyramid scheme. You get in, they work u like crazy. Only a handful will survive up to manager/partner as most will have left for other more non-crazy jobs.

 

[Psai]

I don't even know what the big4 even is

 

[jqueb29]

its prestigious but, until an astronaut first meets an alien on Jupiter, nothing is as prestigious as medicine. Except for maybe a DNP.

 

[Microshaft]

ya but u have to stick ur finger up someones ass tho