The move away from external consulting

By Areej Mahmood - Consultant, Strategy, Consultancy and Change (UAE)

Are you a Management Consultant looking to explore opportunities within industry?
With companies finalising their growth plans for the year and moving forward with their recruitment plans, this is a good time for keen management/strategy consultants to start planning their next move. Below is a guide on how to plan your transition away from external consulting.

The onset of the COVID – 19 pandemic witnessed a major shift in the way consulting firms operate. Due to the nature and location of their engagements, routine travel dominated the lives of Strategy Consultants, at least until before the pandemic. However, as flexible working became an obvious choice in the last 2+ years, there has been an increased demand to continue down this route and while this may take a while to become the norm for consulting firms, there is a plethora of choices for Management Consultants who are looking to move away from external consulting.

Who & Why

Current Management Consultants who are looking to exit consulting firms, which could be due to a variety of factors including (but not limited to):

• Lack of progression opportunities within the firm
• Opportunities to oversee entire project lifecycles, from ideation to implementation
• Interest in diversifying experience to a more hands on role
• Willingness to specialise in a particular industry or sector
• Improvement on work – life balance

When

The precise time to make this switch varies from Consultant to Consultant and depends on what you wish for your career trajectory to look like. Having said that, we have seen Consultants typically start focusing on an exit strategy after spending 3 – 7 years in consulting. This puts them at the cusp of still being able to undertake a proactive role, while having time to develop their range of skills.

What & Where

Management Consultants typically possess a majority of the in-demand skills such as research, analysis, business communication, as well as stakeholder management. This usually means that the focus for your next steps shifts to what your key motivation is, as discussed above, with several options to consider in the region:

• Family Offices
• Holding Groups
• Start-ups
• Industry specific entities (banks, retail groups, etc.)
• Public sector

How

While considering your next move, ensure that the next step in your career ties in not just with your motivation, but also your current skills and expertise. As industry roles tend to be quite different when compared to roles in consulting firms, in terms of environment, salary, career prospects and more, identify your key priorities (such as health, seniority, time or money) while deciding the next best move for you in your career, then begin researching the market in line with your preferences.

Reach out to me areejmahmood@michaelpage.ae to find out how we can help you secure your next role within top organisations in the region.

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