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Can’t you transition to a T2 firm as an equity partner in the area you have passion for?
Thank you for “educating” me. If you apply the knowledge you have shared in your post, what do you think would be T1?
I’m sorry, but this is the first time I’ve heard T1 on here. Just to educate you on the pyramid:
MBB
T2 (OW, Kearney, Altman)
B4
Boutiques
Mentor
I would put them under T2, especially for these 3 acquisitions. I would probably not put KPMG strategy in the same category.
Some questions I would ask to help you think through:
1) For the work that interests you less, how much less? Is it “I kinda like it” or “meh” or “I can do it but I really don’t care to?”
2) How important is doing work in an area you love? Easy to say it’s very important, but many of us care more about other things - the people we work with; the clients orgs; the role we get to play, etc.
3) How big is the comp difference and how important is that to you? There’s never a guarantee of making it to equity partnership, so how important is “getting there” from a comp standpoint?
4) Are you looking to stay in consulting for your career or to exit? If you’re confident you want to be a career consultant, prestige isn’t so important. Nobody cares how famous my firm is when I’m buying stuff and I don’t need to impress anyone with my “tier.” But if you think you want to exit into something else, prestige and reputation obviously matter at least somewhat.
5) Is the thing you’d do at the T2 shop the thing you’d always have to do or would you have an opportunity to pivot down the line? Some firms are more open to people moving around than others.
I would also try to do a thorough due diligence of the market position / pyramid of T2 in your field - some are more fragile already and post Covid talent loss could be a hard blow
Thank you P4, Pa3, A1- these are incredibly thoughtful and helpful responses and are helping me clear my mind.
Also thank you to BCG 3 for ‘educating’ all of us on some basics of our profession!
How do you assess the people and culture of A vs B?
People- Leadership at both places seem to be very supportive and invested in making me successful. Quality of talent at a) will likely be superior to b)
Culture- a) is a typical T1 shop b) is more entrepreneurial, more hustle, but seems to be equally caring of people.
So it seems like a draw between the two mostly. If that’s the case I would pursue the work that you’re passionate about.
When I’ve done work that I don’t care or care less about, I perform worse. After a while I tire of trying to keep up the facade.
By T1 do you mean MBB or?
Unless your passion is Oxycontin, surely there are multiple potential alternatives?
I have the same problem!
Which is more important to you? Equity partnership or the work? Asking as Promise of eventual equity partnership is often a carrot To incent a lateral move. It’s not impossible but much harder than if you are a legacy staff member who they know. Unless you can bring a book of business it’s hard to make it in delivery especially when you are competing against others in line that they know well who have strong fit. So I think the first order question is your priorities.