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Rising Star
Bowl Leader
What are some peoples favorite PM resources? Here are a few of mine:
- Cracking the PM Interview
- The Product Book - free e-book https://productschool.com/the-product-book/
- Product Folk’s Guide to learning PM skills https://280group.com/product-management-resources/free-downloads/
- ProductPlan - PM resource guide - https://www.productplan.com/learn/resources-for-product-managers/
- Good product Manager / Bad Product Manager - https://a16z.com/2012/06/15/good-product-managerbad-product-manager/
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And the rest is history 😅
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Sounds like lots of reasons to do it. Just don’t burn bridges on your way out. Have a clear story for why “love you guys but this makes more sense for me”. Many before you have boomeranged so don’t foreclose the possibility.
Then go jump up the ladder!
Great advice thanks.
Made a similar move recently, albeit was not direct admit. Do you know enough about the new firm? I was a bit shocked when I moved over at some of the differences, so just make sure you speak to a lot of people and try to learn as much as you can about the firm before you move. But overall had a similar increase salary wise and trajectory (1-2 years to equity). Wlb is a bit better also but kind of miss being a part of a better brand.
Also certain things you take for granted at a larger firm. The expertise of your internal network that you will no longer have access to. At my new firm I am now the expert and anytime I have a question I’m the one making the decisions.
So you now joining McKinsey?
Subject Expert
I think it depends on what your long term career goals are and whether this opportunity will help you get there.
For me personally, the biggest challenge would be the changes in the caliber of clients and talent; unless you’re going to a very specialized boutique, generally maintaining those is tough.
I would also suggest understanding long-term comp ramifications. 50% is great today but if that slashes your life time earning opportunity considerably, it may not be so attractive.
If you have a mentor, I would talk this through with them.
One thing I am worried about besides the big thing of brand, is technology/innovation. Trying to gauge with some very close contacts how much that matters. For some clients, it probably does. For others, lower rates may be appetizing for some of the smaller clients.
I moved from T2ish to a niche T3ish. Got to build a new practice and $ jump. Equity partnership this summer.
Plus:
1) More independence
2) A lot more practical experience building a practice, especially in absence of brand and infrastructure
3) More $
4) Big brand doors open so can walk back when I want to (don’t burn the bridges)
Minus:
1) learning is my own responsibility now
2) Immediate drop in new client perception and you feel you have to win the prestige each time - very exhausting
3) Inconsistent culture and capabilities across the firm (you have to work / coach hard to maintain your standard for proposals and deliverables)
4) Going back to mainstream T1,2,3 except from where you came is difficult because of perception issues
Making the similar move myself... worried about the brand recognition, but I have plenty of great brands on my resume that I don’t think it will matter that much in the future... hopefully I made the right decision
I’ve worked with some tier 3 and maybe tier 4 consulting firms as subcontractor firms to us. Each time has been very very painful due to lack of skillsets and capabilities and caliber. That isn’t a headache I’d want to deal with as a Partner. It may not be relevant to the firm you are joining but certainly may be a consideration.
What type of consulting work do you do? I think more commoditized roles (e.g., implementing Salesforce) are much more portable than, say, strategy where the quality of your team matters a TON. For Strategy roles, brand name, quality of team and infrastructure (e.g., proprietary benchmarks, research teams, etc.) matters a lot and I’ve seen Partners coming from top shops really be shocked at the difference between their old firms and the Accentures / KPMGs of the world.
Depends on the T3 firm.
Global acct firm one step below Big 4. Not at a Big 4 now either. Currently at a Well respected boutique (not even sure if boutique but think LEK, A&M, Alix).