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If it's just a year or two of tech experience I would say hell no. However 2+ years of real operating experience (running a P&L vs a strategy or BD role), I would very seriously consider it. Clients LOVE consultants who also have industry experience and I find that when accounting for most variables, staff who had industry experience generally out perform peers who never left consulting.
Slolam 3 is correct. I would add that consultants advise based on theory (e.g. idealized best practices) but the reality on the ground of a client who has multiple responsibilities and faces political pressure are not well understood if you've not had to deal with it yourself.
Also we as consultants communicate with client, invite him/her to dinners, share white papers, etc. We often don't realize that the same client is getting 20+ invitations, whitepapers, calls, EVERY WEEK from other firms... ones they work with and ones trying to break in (not to mention 100s of random vendors, startups, etc.). Consultants who spent time on the client side have felt that pain and are better adept at breaking through the cacophony.
A lot of those crazy high salaries were based on equity grants, not necessarily cash compensation. I think consulting firms might be able to match the cash, but the equity was almost a bubble for a while there.
Rising Star
People are missing this. Lots of these folks, specifically at Meta, have TC that is now 50-60% of what it was. Their TC could very well be the same or less than it was in consulting.
They'll have to accept whatever market rate is. Or stay unemployed
I mean props to our recruiters who will likely have to hear at least a few silly answers to “what are your expectations?” … “well at meta I was making 800k total comp and getting all meals free and am hoping to stay close to that” ha
Chief
Presuming their tech comp was something like 75%+ higher than in consulting as I saw multiple times, what would be their selling point to get that in consulting after only 1-2 years away?
Chief
Just because one industry pays a certain amount doesn’t require another industry to do the same. Consulting doesn’t pay out RSUs and 50% bonuses. $200K+ base is difficult if not an experienced M or SM level. It will be a wake-up call for them.
Chief
Not sure consulting firms are willing to pay that high price if tech boomerangs are maintaining no that unrealistic expectation
Seems unlikely most non-MBB firms could match that and if hiring is slowing down, I don’t think those people would be in a strong negotiating position.
Maybe not 4 years ahead but it’s not unusual to get 50% tenure credit if they haven’t been gone that long
Chief
They’re not really worth more to a consulting firm after being in a BizOps role or whatever for a couple years.
I work at a smaller tech firm (late series, pre IPO) and would never consider going back to consulting. This is for 2 reasons: (1) the work I do now is very different from what I did at BCG, and I much prefer it; (2) I will never work at a place without equity again. Even in a bad economy, new businesses are being built, and there are opportunities for wealth creation beyond a cash salary.
If I were forced for financial reasons to take a consulting offer, I would be aggressively applying/interviewing so I could leave asap.
Neither of my reasons fully hold for people at large tech companies though - the work is a little more similar to consulting, and the stock upside has a more natural cap. My reasons also wouldn’t hold if I liked BCG and/or felt I would be happy as an MDP.
But I think a lot of these comments miss a core point - people aren’t just moving around for higher comp. A big part of it is the nature of the work, the culture (not ping pong tables, but how people interact with each other), and (for some) better WLB. And those that do move for comp may care more about long-term potential beyond the current point in the economic cycle.
There is far less standardization among the tech companies (esp smaller ones) than in consulting. Might be worth trying another (or one that varies in a meaningful way, like is much smaller). Either way, best of luck!
While not at meta - I have yet to see anyone leave Google to head back to a large consulting firm
There are a few reasons
1. Smaller consulting firms are offering great salaries for remote work and 32-40 hr work weeks
2. Tech incentives people to get work done as fast as possible - it's a great business model for people that spend their time getting better at their skill area. Consulting's business model is heavily skewed towards butts in seats or hours worked.
Very few people I know want to head back into that space. That model does not incentivize people to get faster at their job (they don't reap the benefits)
3. Being around tech people is fun....everyone has a common hobby. Once you work with people like that around you - you don't want to leave that environment.
4. Tech work is more fun than consulting work
5. Once you are in the tech club....it's really easy to join another company in the same club. There is absolutely no reason to head back to consulting as the exit paths you are looking for are already open
I think you have a point.
The big factor in whether someone ends up going back to consulting is how much money they want to make.
It's still fairly easier for techies to get jobs that pay 200-250k. If that is sufficient - then they will stay on tech.
If they want more...they will have to consider other areas.
Chief
I’d take a pay cut if I was getting uncomfortable waiting around to match comp and unemployed
They likely won’t return to consulting in meaningful numbers because consulting hiring is closing fast.
They won’t ask for tech-level tc, they’ll take whatever they can get and at whatever level they left at and be thankful if they can get it back.