What are the reasons why you should work for a consulting firm?
- Lucrative compensation
- Learn new things
- Connect with a new network
- New opportunities
Working for a consulting firm in the Philippines is not going to be easy. You are most likely going to travel everywhere, be under a lot of stress, and work long hours. Consulting firms want to make sure that you know what you are getting into because here’s the thing – working for a consulting firm comes with a lot of perks.
If you join the consulting sector, you are probably going to earn a salary that is above the average, not to mention the generous benefits and paid time off. Consulting truly gives a person a career opportunity that stands out and is differentiated. Here are four reasons why you should work for a consulting firm:
Consulting is rather lucrative compared to many jobs that come from other undergraduate or even MBA programs. Excluding a few select fields such as investment banking that can top it, the salary you receive when you work for a consulting firm beats out most others. The difference in compensation can even grow further when you add in the 401k contributions, profit-sharing, bonuses, and other benefits.
There are also times when consultants, during a particularly challenging case, will require compensation based on their dollars per hour computation, or the ratio of their billable rate to what they are getting paid. These figures might not look as appealing at first as, for example, what engineering firms are billing their clients. However, some unstaffed time can bring back these figures into balance.
Some consultants can even earn over a million dollars annually; the same amount which can take a professional working in a different industry at least 20 years to earn.
Learn New Things
Consultants can learn a lot of things fast because it is important for the success of their career and their survival in the industry. Working for a consulting firm allows you to learn new things about many different business challenges and types of industries because you will be exposed to them through your casework. The lessons you learn from these experiences can then help you enhance your overall business judgment.
The variety of cases you get to encounter during your time working or a consulting firm also gives you the opportunity to find out about many different kinds of work to see which one is the best for you. Others might even find the job fun because the different challenges you are required to solve can be intellectually stimulating which keeps the job from being boring.
Many consulting firms can also offer to invest in you through their knowledge management and training program. Consultants that work in a firm can enjoy the benefit of a well-organized knowledge management platform that covers a wide range of business topics. It is also not uncommon for larger firms to invest in their consultants through multiple day training in exotic, off-site destinations such as Cancun, Barcelona, and Cape Cod.
Connect With a New Network
The opportunity to build up a stellar network of connections after several years of work is perhaps one of the most important benefits of working for a consulting firm. The good thing about spending 10-13 hours a day locked inside a conference room of a client with brilliant colleagues is that you tend to grow closer to them.
Some larger, established firms also usually have a dedicated alumni relations department that can give useful resources and opportunities for networking to consultants even after they have left the firm. Consulting firms know that many of their new clients can come from their former consultants so they choose to invest in this area.
Lastly, working at a consulting firm is a great way to find new opportunities to enter many other industries. Consultants at some of the top firms, for example, have a good chance of making it into the top business schools in the world. Most firms can even pay for the tuition of their consultants as long as they agree to return and work for them.
When working for a consulting firm in the Philippines, a consultant can usually reap the benefits of working there almost immediately as the promise of new opportunities can come to them right away. Oftentimes, a consultant will already have received phone calls from headhunters looking to hire them in their firm even after just days into their career.
Recruiters also tend to notice applicants that have worked for a consulting firm because it is a powerful stamp of pedigree that makes them stand out from many other professionals. Part of why recruiters are attracted to those that have worked for a consulting firm, just like a top school, is that they know that you learned a lot while you worked there. Also, the fact that you have what it takes to get into those prestigious places in the first place is also part of the draw.
Consider these reasons we have provided and take your time to think before getting into this field. While consulting has its downsides, it also has plenty of opportunities for you to grow, learn, and progress as a professional.
If you are committed to problem-solving and are willing to pay the price, working for a consulting firm can be an ideal career path.