{ "media_type": "text", "post_content": "Does consulting leadership see an existential talent “crisis” of sorts coming from covid? No travel has benefits, but we’ve never had so much churn before at the lower staff levels. No travel, points, and comped meals is basically associate payments that are no longer being paid out.", "post_id": "602bfdd94ef7a400238254f7", "reply_count": 34, "vote_count": 15, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting" }

Does consulting leadership see an existential talent “crisis” of sorts coming from covid? No travel has benefits, but we’ve never had so much churn before at the lower staff levels. No travel, points, and comped meals is basically associate payments that are no longer being paid out.

like
Posting as :
works at
You are currently posting as works at
Highlighted IconHIGHLIGHTED

Even more substantial than the financial benefits of travel are the feeling of being 'important', 'impactful' etc and the overall energy that engaging with others in person and plane hopping generates. That is now largely replaced with a constant nagging feeling of 'what the hell am I doing with my life here?' as the essence of the work is laid bare. Employers who promise meaningful work may benefit from some of the talent fallout from consulting etc

like

Well said. I’m no more or less important than I was before, but I certainly “feel” like I yield much less impact. Little to feed my ego these days (which is probably a great thing).

like

SA here, in total agreement with A1 above. Sure travel is sexy and the lifestyle is nice... when you’re able to bounce around and see different cities, which few of us were able to do at a junior level, and probably even fewer post-covid. But don’t use those shiny things as a distraction for the day-to-day work. It was never about the “perks” for me and a lot of my peers. It’s about learning, seeing real impact and purpose in my work, and feeling valued in the workplace.

like

Yes and no. Pepsi had an internal strategy team and we still wrote their strategy to buy back the bottlers. The real reason is just economics. It makes a ton of sense even. A strategy project is, what, $1-1.5M? $2M for a big one? The right implementation project is $50M and it’s not like it’s 25x harder to sell a $50M project than a $2M project. As long as companies are willing to pay BCG rates for integration work, partners will sell integration work. It’s easy to sell and it pays the bills. But it’s taken over the business. BCG is now much more about who puts up big numbers than who does interesting strategy work. You can’t be successful as a strategy focused partner. It’s all about programmatic work. And that’s fine, but it’s a choice to move away from strategy. There isn’t even a strategy practice area anymore. It got absorbed by the CD practice. No one could make partner in the strategy practice. BCG is no longer a strategy shop, they’re a really expensive implementation shop that does loss leader strategy work to sell implementation projects. And that’s not a dig or anything at all, it’s a model that is working brilliantly. It’s printing money. It’s just not what I wanted to do.

like
Recent IconRecent

Most leadership wants to get back to travel as a business ASAP when it’s safe because they recognize this threat. Without perks, even many entry level non FS/Tech jobs beat consulting comp, which is worrisome. The other big thing they are worried about is losing sales due to in person presence from competitors. But yes, every single person I know under the age of 30 at Deloitte hates this environment and is trying to leave consulting.

like

Lack of stock options and weak 401K match bridges some of the gap between industry and consulting salary for entry level

The day of reckoning will come. The record will be straight.

like

I see a work crisis in general, not just consulting. Widespread discontent across all industries

like

I think business models will need to change. I don't see have everyone travel on site every week to be viable anymore. Clients won't want to pay for it anymore.

like

My post was exactly what bcg 2 is referring to

like

I don’t see the decision to travel or not to being up to the consultancies. Many companies, seeing that working from home is viable for many roles, particularly backoffice ones, are planning to downsize office leases. This will take time and as they are hard to get out of quickly, and thus while we will travel again, we’re not going to be paid to travel when our clients aren’t themselves in the office. Most of my clients only expect to be in the office part time permanently post-pandemic and I don’t think folks should be budgeting to have meal and other expenses reimbursed going forward until we see what kind of travel load we have in the longer term.

like

@D1 no arguments here, I agree with you - I just don’t agree that it’s an excuse for firms to do absolutely nothing about this for an entire year and counting.

like

Seeing this at EY as well

like

I’m enjoying the no travel; much more time with the family. But that may also be a factor as to why I chose ZS, less travel in general.

like

Yes, this is true across firms.

like

This is why I few so bad for my MBA classmates going into consulting... having done it for many years, it’s like going in purely for the Coolaid without any of the perks...

I think they should also probably open the fucking office working at home blows

Related Posts

Why do people have more than one credit card? I like to just have one and build up the points on that. I know people that have cards for everything..

like

I am a background check away from putting in my notice. KEEP grinding if you’re miserable and/or have trouble getting out of bed in the morning. This took a lot of ghosting and interviews+offer letters being taken off the table due to COVID. Stay humble and you’ll be next. Take a midday walk and schedule some coffee meetings to expand your network and stay sane.

like

Any success with getting Status Challenge (not status match) with United.

like

How do you get invited to an underground sex party? I understand that COVID might have put a damper in that scene, but optimistic about life after.

likefunny

Is pension vesting based on your employment start or another date like the fiscal year?

like

How’s the Royal Hawaiian Resort? Thinking about redeem 5 nights there. Worth it? 20000 points per night .

like

Haven’t traveled long haul international since pre-covid…longing for a 2 hangover flight

like

Hi everyone! Any hotel recommendations (Marriott preferably) to stay in Berlin and Hamburg? Thanks!

like

Well it happened - BIL asked my in-laws (healthy but in the most affected age group) to travel and stay with them to help do errands for them and watch their toddler so they can work. SO is furious.

like

I 100% believe women should have paid maternity leave after a certain tenure at their companies. However, curious to hear thoughts on the following scenario I saw described on LinkedIn... (cont)

likeuplifting

Selling points of being a CPA and CFE going into Managing Consulting without getting a MBA.

likehelpful

SO is an attorney as well and has been diagnosed with a serious illness. We can’t spend much time together due to risk of COVID exposure so it’s really hard for me emotionally. I don’t want it to affect me at work and faking a brave face is so draining. Just needed to vent, I’m so grateful for this group.

like

Delta Medallion question - Which platinum gift would you select?

like

Anyone successful in using Avis reward day on a one-way rental?

like

I wanted to ask 2 questions 1. I used to hear Bain ME had an aweful culture before they made some major changes, firing leadership etc. and now apparently it has improved. Is it true? 2. Does a Partner 1 in MBB in ME making significantly more than in other firms ( Startegy&, OW, Kearney, Accenture).. Just wanted to know how large is the delta considering avg. performance

like

Have one week for shopping mortgage for first house. Where do i start, any online sites , credit unions or mortgage agencies that are offering low rate loans. First time home buyer so no clue what to look for. Any tips to work with PMI, points , loan terms.

like

Leaving deloitte soon, how soon after I leave am I able to cash out my pension?

like

Key West vs Miami for a baby moon in December / January? Any Marriott recommendations for a low key getaway in either location?

like

Some states are cancelling testing for the year. Do you think COVID could be the end of standaridized testing?

like

Additional Posts

Men’s hair style/ facial hair, and interviewing at Big4 poll: 1. Ok to have longer hair 2. Only medium/short hair is professional 3. Trimmed beard & mustache ok 4. Only mustache ok 5. Long beards ok 6. Clean shaven only 7. Hair style/facial hair have no relevance

like

Friend runs a company and hired a VP of Sales to help grow the business. Guy got some relocation $ and was supposed to start 2 months ago. Ever since he said his kid had an accident and from that point on kept pushing the start date back claiming he has to do something related to the accident. He hasn’t sent any proof to HR, has been requested twice claims he will but then doesn’t. And has pushed his start date back half a dozen times. How should I advice him to proceed?

like

I told my agency when I started that I have a kid. From time to time, kid stuff comes up (sick, school...) and I need to stay at home to take care of him. I don’t actually have a kid...

likefunnysmartuplifting

Currently work at AWS in Business Intelligence and am looking to transfer into Product Management. Looking at MBB eventually. In my experience, most people from MBB have FAANG as their exit op. Why?

like

Whats the comp for a Risk person in IB at Goldman Sachs? Sr. Associate/ VP level

like

Should I stop depositing into my 401k?

like

Best side project you’ve ever seen?

like

Hosting a remote training in a few weeks, what are good engaging activities you recommend?

like

Has anyone interviewed with EY recently? What is the digital assessment they are having? If someone who has taken it can shed some light that would be really helpful! TIA

like

Do not go to the domestic terminal in ATL. TSA has made it a complete cluster fuck. Precheck line is past the restaurants in the atrium.

like

Anyone have insight into salary at Charles River Associates? Associate level, thanks in advance!

like

Does anyone know if you can add someone from another Big 4 firm to your Skype contacts? Tried doing so by adding through “external contacts,” but shows their presence as unknown and can’t send message

like

Interviewing with Deloitte, anybody else have this HireVue interview first ?

like

Working from home since march 2020, got promoted December, department had a major reorg couple of months back, responsibilities increased, work increased, hours increased. I just don't feel sleepy anymore, brain is always fired up with work, writing emails in my head in the bedroom post lights out. Anyone else with me?

like

I think my firm is going to be moving towards global flexibility regarding work from home. They won't force us to live in certain cities with offices. Where in the US is there a beach or beach town that gets all four seasons? Is such a thing possible? I love the ocean, but Fall is my favorite season.

like

What is the starting salary for MBAs in various consulting firms for the class of 2019? I started at 135k base at D back in 2014.

like

What exit ops outside of PE do most strategy consultants (not MBB) consider post MBA?

like

That feeling when you let one rip and then scramble to double check if Zoom is still muted... and it is

Post Photo
likefunny

“So we’ve cut their pay, axed most of their friends, what’s next?” “Ohhh ohhh, their PTO, but make it seem like it’s a good thing”

likefunnysmart

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
Download Fishbowl to see what others are saying
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the Fishbowl app

Get realtime notifications and see
what's happening in your industry
from the palm of your hand.

For account settings, visit Fishbowl on Desktop Browser or

General

Legal