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Insider tips for consultants to craft a standout CV, highlight skills, and impress recruiters.
In the UK, your CV should ideally fit nicely onto 1 page. If it’s a real squash, go for 2, but never more than that. You’re probably past needing to write about being a school prefect or captaining the tennis team. Companies receive a huge number of applications and typically your CV will be reviewed on an average of 6 seconds. Remember, your CV is a conversation starter. It’s a tool to get you to interview, where you can share more details. It should leave the reader wanting more. If you write too much detail, you may make it more difficult to strike up interesting dialogue at interview.
If you are a consultant, writing a few lines/bullets about a selection of projects is NOT a reader-friendly format. You are thereby requiring the reader to draw their own conclusions about your key skills. Instead, try structuring your CV by key skill (‘analysis’, ‘team leadership’, ‘finance’, ‘stakeholder management’ etc) and writing a few / lines bullets to substantiate each of these – drawing from a range of projects for each skill. Put the skills in bold as mini titles. Even more, adapt the skills you list to reflect the exact skills – even the language – of the employer’s job post. That way, the reader can scan through your CV and tick all their boxes in seconds.
This is 2-3 lines at the top of the page saying “this is me, what I want to do and why that’s a perfect fit for this job”. The combination of personal summary & the bold list of skills is all the reader needs to know.
Make it easy to navigate: first impressions count, so it needs to look attractive. A “busy” CV intimidates the reader while a good, clear format is your best friend: use section titles and bullet points to divide into bite-sized chunks and avoid long passages of text. Resist the temptation to reduce the size of your margins – whoever reads your CV will want somewhere to make notes. The reader will have specific “boxes that you need to tick” so the easier you make it for them to find this information, the better.
Don’t just describe what you did. Your achievements – particularly at work – will seem more impressive if you get across the impact that your actions had. Use numbers where possible (e.g., generated 9% sales growth YoY, delivered £92m efficiency savings).
Often what you do outside of work is what can differentiate you from another consultant/ex-consultant with similar experience. It shows you’re an active, interesting person and often provides a comfortable ice breaker at interview.
Your CV is very personal, so you will find it impossible to be objective. Send it to a few friends and take their advice. Headhunters will often have useful tips too. It might involve a few iterations but it will get better with each one.
You may not know this but recruitment agencies may blanket email out your CV to loads of companies without your knowledge. If they get a bite, they will then contact you and try to talk you into applying for a role. This can make you look really uncoordinated if you’ve applied for a role at the same company directly in the meantime. If a recruiter asks for a copy of your CV, say no until they provide you with an exact job description that interests you and is live. Even then, send a pdf version of your CV clearly stating exactly which role and company this CV is to be used for.
If you think a job sounds amazing, you can be sure that others like you think the same. Your application will not stand out unless you write a compelling cover letter. What’s the point in spending hours revamping your CV for it to be overlooked as your application lacks a cover letter?! For help on this, why don’t you have a look at our article about the importance of cover letters?
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Chief of Staff roles suit ex-consultants, vary by firm size, and offer paths to leadership.
Are you looking to hire a Chief of Staff? In this article Movemeon’s co-founder Rich shed light on how this role can be different depending on the size of your organisation, what salary you need to pay and the most important thing to get right when hiring a Chief of Staff.
The Chief of Staff role is a perfect fit for the consulting skill set. Beyond strategy & transformation teams, it’s a common home for consultants making their first job move out of consulting and into “industry”. It’s a role that can exist in everything from startups to multinationals to public sector organisations, and it’s very commonplace in Private Equity backed portfolio companies too.
The job title “Chief of Staff” is enough to put some people off hiring one. Let’s face it: the title is very vague, somewhat grandiose, and conjures up images of the West Wing. That’s why many organisations prefer to use a more descriptive job title, like “Right Hand to the CEO”, for the purpose of marketing this opportunity.
Plenty of larger organisations also have a “Right Hand to” for various senior team members, like the COO, CFO etc. In smaller organisations, the Chief of Staff can be a shared resource for the leadership team (rather than purely for the CEO / Founder).
What alternative job titles are there for a “Chief of Staff” or “Right Hand to”?
Other job titles I’ve seen used include:
Equally, roles such as “Head of Special Projects” or “Head of Strategic Initiatives” tend to have very similar remits. In itself, the “Chief of Staff” job title tends only to be used in larger organisations (including the public sector).
The job title “Chief of Staff” is very vague, that’s why many organisations prefer to use a more descriptive job title, like “Right Hand to the CEO”.
It has become very commonplace for a growing business to hire a Chief of Staff. In these types of startup businesses, the title “Right Hand to” or “Strategic Assistant to” is more widely used, particularly outside of the US (where Chief of Staff is more usual).
The main reason startups and scaleups hire a Chief of Staff is to give the CEO / Founder and senior leadership team more bandwidth. Typically, these organisations are not yet big enough (e.g, 25-250 people) for a fully-fledged strategy or transformation or special projects team. Therefore, the Chief of Staff fulfills that remit and typically, as the organisation grows, goes on to lead a larger team within a more established / formal organisational structure (commonly COO, Strategy & Innovation Director).
The main responsibility of the Chief of Staff is to take ownership of important projects that the members of the leadership team don’t have capacity to deliver, but are important enough to be on the CEO’s to-do list. These projects can range from researching new market entry, to creating organisational processes, to developing an early insights-type function.
In smaller startups the CEO tends to do multiple roles as the team is not big enough to hire a dedicated COO / CFO / Head of Insight etc, and if there is a Co-Founder, they tend to be technical (i.e, focused on the product). So the Chief of Staff becomes a “mini me”, helping the CEO / Commercially Oriented Founder deliver across all these areas. Simply puts it doubles the CEO’s capacity.
The main reason startups & scaleups hire a Chief of Staff is to give the CEO / Founder and senior leadership team more bandwidth.
Startups favour a more junior hire for Chief of Staff than larger organisations. In our experience of supporting 1,000s of startups hires through Movemeon, someone with ~2-5 years of consulting experience is what startup Founders and CEOs look for.
In joining a startup, consultants are happy to make a sideways (or sometimes slight downwards) move in terms of basic salary. So, in the UK, the basic salary for a startup Chief of Staff is normally between £70,000 – £100,000, depending on the seniority desired.
Equity / options are very much expected for a Chief of Staff and the startups able to recruit the highest potential talent will have these in place. After all, the Chief of Staff often goes on to become a future leader as the business continues to grow (e.g, Commercial Director, Country Manager, Chief Strategy Officer etc).
Startups favour a more junior hire for Chief of Staff than larger organisations. In the UK, the basic salary for a startup Chief of Staff is normally between £70,000 – £100,000, depending on seniority desired.
In larger Private Equity-backed businesses, large domestic corporations and multinationals, the Chief of Staff role is typically aimed at a more senior candidate (although hiring for a more junior “strategic assistant” is not uncommon, perhaps in combination with a true “Chief of Staff”). While an element of “special projects” remains, a larger part of the role is to act on behalf of, or deputise for the CEO. The role involves a lot of stakeholder management of other senior colleagues and, as such, CEOs and other Execs hiring for a Chief of Staff typically seek candidates with ~7-15 years of experience.
In the largest organisations, the Chief of Staff will normally manage a team within the “CEO Office”, including analysts to support project delivery & research (to give the Chief of Staff bandwidth). It’s important to note that the Chief of Staff is not typically in charge of the CEO diary and there would be a separate Executive Assistant in that role (not to be confused with the “Strategic Assistant” – a common job title for a more junior Chief of Staff).
Chief of Staff is normally a stepping stone role performed for 12-24 months before moving into a commercial or operational leadership position. In this way, and similar to how strategy teams can be used for talent acquisition, hiring a Chief of staff every 1-2 years is a way to create a pipeline of high potential “future leader” talent.
In large organisations, the Chief of Staff role is typically aimed at a more senior candidate. Hiring a Chief of staff every 1-2 years is a way to create a pipeline of high potential “future leader” talent.
Chief of Staff is not a role confined to the private sector, as it is also commonplace in other types of large organisations (e.g, government, public & charitable sectors). While pay may be lower within non-private-sector organisations, typically the annual basic salary for a Chief of Staff in the UK is between £120,000-175,000. The Chief of Staff would expect a performance bonus in line with other colleagues at the same seniority and to benefit from a long term incentive plan (as is common for leadership tiers within big businesses).
Typically the annual basic salary for a Chief of Staff in the UK is between £120,000-175,000
Here at Movemeon we support 100s of organisations in hiring a Chief of Staff or similar. We’re fortunate to have kept in touch with candidates and CEOs after they have started in the role and here’s a great summary from the horse’s mouth of the things to think about when hiring / interviewing.
The piece of advice we are given more than any other is to make sure you get on well with the person you are hiring / CEO you’ll be working with. The nature of the role means that this is a very close working relationship. You’ll be spending lots of time together and in that environment any friction can quickly build into an extremely unhealthy working relationship. So take your time in the interview process, ask lots of questions and make sure you spend some “non interview” time together before making / accepting the job offer.
The nature of the Chief of Staff role means that this is a very close working relationship, make sure you get on well with the person you are hiring
Early indications of deflationary wage pressures
Earlier in the year, our data showed us that it was the best time to hire in a decade, with the highest level of interest per role we’d seen since COVID. We’ve conducted further analysis, looking at what the bearing this has had on compensation dynamics in the market.
To find out more about hiring with Movemeon get in touch with our team here.
Using our proprietary data, we’ve analysed over one and a half million data points, and seen a seismic shift in the market. Two years ago, there was a large gap between the compensation candidates’ expected for a new job and how much employers were offering. Within just two years this has dropped to historic lows - suggesting that many companies “over-corrected” their salaries and are now effectively over-paying for new joiners.
In this article we look at how the compensation gap has changed over the last five years, driven primarily by supply-demand dynamics. We look at how this varies by company type, suggesting corporates have over-corrected their compensation, as well as Private Equity and Consultancies but for very different reasons.
Finally, we look at how this picture varies by alumni firm. McKinsey, BCG and Bain alumni have historically commanded a premium in the market, but we’re seeing early indications that this premium is decreasing. MBB expectations have only increased by a modest (and below inflation) level of 2% compared with 4% for the Big4 and 6% for boutiques.
Below you’ll see how the Movemeon compensation index has tracked over the last five years. We’ve analysed over one and a half million data points going back five years, looking at the gap between expectation and reality when it comes to comp. We see this as a measure of “friction” in the market, and an early indicator of inflationary pressures on wage growth.
For the numbers to make sense, it’s worth a quick recap of who’s in the Movemeon network;
How to interpret the numbers:
When we plot our hiring and compensation indexes together, it’s clear there’s a very strong causal relationship (an 85% negative correlation). The more in demand ex-consultants are, the more their compensation expectations increase, resulting in a larger compensation gap between job offers and expectations.
Over the past 5 years, we’ve seen the gap between expectations and job offers hit historic highs of 22% in 2021, before falling way down to 6%, -9% below the historic average.
We had assumed the drivers of the decrease in this gap were candidates re-adjusting their expectations downwards. This is historically what we’ve seen in very competitive hiring markets.
But this has not been the case. Over the past year, compensation expectations within our community have still increased at a healthy rate. The real driver of the expectation gap has been a very high increase in compensation being offered for jobs. This is clearly unsustainable in the longer-term, and feels like an over-correction in response to the higher consulting salaries and candidate expectations we saw in 2022-23.
For our latest salary information, you can view our benchmarking here.
When we look at our compensation index by company type, there are some very interesting trends.
Large corporates have a compensation gap of just 2%. This is much lower than historic averages, suggesting they have overcorrected compared with candidates’ expectations.
Scale-ups on the other hand have a gap of 13%. This is in line with historic averages and suggests that a focus on profitability combined with lower levels of VC-funding have ensured there hasn’t been an over-correction.
In the advisory space the picture is quite surprising. It’s been widely reported that it’s a tough market for consultancies, however, what our data shows is that those who are recruiting are prepared to pay a large premium - 8% in large consultancies, 5% in boutiques. We think this is being driven for two reasons: firstly, firms that are recruiting are growing, and as such are in a position to be paying for high performing (more expensive) talent; secondly, it is a hard market in which to attract ex-consultants given slow growth in the industry as a whole. To make it more appealing, bigger packages are being offered.
Finally, Private Equity is also paying a premium to outstrip expectations. This comes as no surprise and is also in line with historic norms in the sector. Private Equity is focused on attracting the very best, and as such is prepared to pay top decile compensations.
When you look at how compensation expectations have changed by alumni firm, an interesting trend emerges. McKinsey, BCG, Bain alumni have seen the lowest increase in their expectations - a modest (and below inflation) figure of 2.3%. This is broadly in line with other strategy firms, but under half what we’re seeing alumni of boutiques and the Big4 demand.
Despite the higher increase in expectation from boutique and Big4 alumni, McKinsey, BCG and Bain alumni are still paid a premium of over 12% compared to the median compensation.
If you’d like to find out more about how Movemeon can support your hiring, please get in touch.
We analysed over one and a half million data points, to see what has happened to the job market over the past decade.
Now is the best time to hire in over a decade, and is an opportunity to bring in once-in-a-decade talent - a seismic shift from just two years ago.
We analysed over one and a half million data points to see what's happened to the job market over the past few years, a period characterised by rapid flux: Initially, quantitative easing and COVID drove The Great Resignation and the biggest war for talent we’ve seen since being in business. This market, highly favourable to candidates, was abruptly halted by high inflation and consequent sharp quantitative tightening. The higher cost of capital resulted in some pretty severe re-valuations and a tough trading environment. As a result, reductions in wage costs were required through job cuts and hiring freezes.
What does this mean for employers now? For those in a position to, it's a great time to hire rarely available and exceptional talent.
Jump to:
- Movemeon hiring index
- Have McKinsey, Bain and BCG been hit harder?
- What business types are most popular at the moment?
- Where to find future leaders?
We use our proprietary data to give an overview of how favourable the hiring market is for employers. Our analysis also explores how this varies for different consulting firm alumni, and people moving into different industries: PE, VC-backed scale-ups and Corporates.
Below is how the index has changed over the last five years. For context, it's worth understanding who the Movemeon community are:
In terms of interpreting the numbers:
After COVID, Movemeon’s hiring index spent a year below 25. This was an incredibly hard time for companies to hire. Increased focus was on retention (compensation rises) and other effective ways to onboard talent (freelance).
During COVID, uncertainty meant hiring pretty much drew to a standstill. In parallel, there were some initial layoffs from industries that were hit hard by COVID. We saw the index reach some of its highest levels from March 2020 to August 2020 - a great market to hire for those in a position to do so.
However, this soon changed. Quantitative easing and large social support packages trickled through, and at a time when everyone was spending less. The resultant economic boom saw companies' hiring intensify. The Great Resignation poured further gas on the fire - with retention dropping sharply at companies. Our index dropped to some of its lowest sustained numbers between March 2021 and March 2022.
Throughout this period, companies were falling over themselves to attract the best candidates as the war for talent intensified. Salaries spiralled as the focus on retention intensified. The freelance market boomed as a quick solution to urgent capacity and capability constraints.
“You see who’s got swimming costumes on when the tide goes out”
W Buffet
With hindsight, we now know this was (hopefully) a once-in-a-lifetime shock to the system.
Just three years on and the picture looks very different. High inflation and consequent quantitative tightening has meant we've gone from one extreme to another. Overhiring has resulted in more radical action in recent months around redundancies, wage reduction, job cuts and hiring freezes.
The tide well and truly went out and, as Warren Buffet would say, it has been a great indication of who had swimming costumes on! With very few companies hiring, and more people looking, the index went from a sustained period under 25 to 100 in just 10 months. It has sustained those levels ever since (although we're seeing some green shoots in Q1 2024).
When we look at what this has looked like for the alumni of different consultancies, a very interesting picture emerges.
As you can see from the first chart, McKinsey, BCG and Bain went from some of the lowest numbers on the index to the highest number, in a matter of a single year.
When we compare the difference between Q2 2022 and Q2 2023, we see that MBB and the Big4 saw the largest turnarounds in the market. Interestingly the smaller strategy houses and the boutiques seem to have seen less of a shift.
The potential drivers behind this are complex.
It’s hard to determine whether the larger change in McKinsey, BCG, and Bain alumni is driven by just how in demand they were before, or just how many are looking now. Based on our initial analysis, it appears the demand factor plays the larger part.
For the current consultants, it has been reported that more people are being managed out of McKinsey, Bain and BCG than other firms.
For alumni, it’s more complicated. The hardest-hit sectors in 2020-21 (e.g., VC-backed scale-ups; PE post-deal) had a disproportionate flow of MBB consultants doing this type of work.
The other driver could simply be that they have more options. In a highly competitive market, their brands might mean there are still doors open to them. Leading them to be less willing to “sit through” their current work position and proactively look to move.
What we can say is that this is the best time we’ve ever seen to hire alumni from these firms.
We also analysed how this picture varies according to the type of business.
Even in the hiring frenzy of the Great Resignation - Private Equity was a competitive place to find a job. Numbers of people employed in PE has not kept track with growth in terms of assets under management and there has always been strong interest in moving into the sector.
Interestingly, over the last 6 months, we’ve seen the desire from candidates to move into the Corporate and Advisory sectors grow to the same level as into PE.
Returning to Warren Buffet’s old adage - those wearing swimming costumes can now take advantage. Companies in a position to take a through-cycle approach, and potentially sacrifice some margin in the short term have a once-in-a-decade opportunity to transform their organisation’s talent.
Consultancies are future leader factories. This has been well documented for years, and recently re-analysed by OnDeck. They looked at the CEOs of the largest operating companies in the US and saw where their alumni came from. We’ve copied the list of the top 8 below, 6 of which are consultancies.
Is now the best time for your business to hire its next CEO?
If you'd like to find out more about how Movemeon can support your hiring, please get in touch.
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Career journey to Jasmine Social: From consulting to impactful social sector work via Movemeon.
My career path has had its share of twists and turns. I knew early on that I loved growth strategy and business operations- but I had no idea what that meant for a career. I ran a boutique in Los Angeles for 2 years before getting my MBA from Indiana University.
I connected with Bain & Company early on and really drank the Kool-Aid, I was drawn to the generalist model, the collaborative, data-driven approach, and the type of questions I’d get to tackle on a daily basis. I truly loved my time at Bain but wanted to work with more early-stage, mission-driven organisations.
Over the next 5 years, I worked in the start-up space and set up my own consulting business, focused at that intersection of strategy and impact. Towards the end, I realised mission-driven work was only about 50% of what I was working on but 100% of what I was interested in. I was happy with what I was doing but hungry to find a role where I could invest more of my time and energy on organisations truly driving impact. As part of the Jasmine team, I’m able to do all of that and more.
I like to say it was a bit of a happy accident. I was in a great place with my own consulting work but I wanted to do more with mission-driven organisations. I came across the job posting for Jasmine on Movemeon and was immediately drawn to it- the focus on impact data, the small team size, and the portfolio of incredible social entrepreneurs.
Once I met the team, it was a no-brainer. They are smart and humble and have truly created a culture where I can both make an impact and continue to learn and grow along the way.
There’s so much value the consulting toolkit can bring to any role, in my very biased opinion. I’ve always had an eye for the social sector throughout my career, so I think this question of “what can the for-profit strategy inform in the non-profit sector?” has always been top of mind.
During my MBA, I worked on projects with social entrepreneurs in Kenya, Botswana, Vietnam, and the US. At Bain, I was a part of multiple projects, partnering with Acumen entrepreneurs on questions of operations and growth. I also got to work with Bain’s education practice on a project standing up Washington’s Career-Connected Education. I’ve spent the last 5 years really at that intersection of strategy and impact- partnering with mission-driven start-ups, working on pro-bono projects with non-profits, and helping global organisations drive more sustainable practices.
I think strategy and operations best practices are, often, industry-agnostic. Customer best practices can really be applied across customer organisations. Supply chain best practices are helpful to most but especially organisations focused on the last mile– getting services and products to rural communities. I especially love to see the way digital tools and iterative, agile ways of working have truly become a critical pillar across social organisations. Learnings across these are very transferable across for-profit and non-profit sectors.
That said, now that I’ve switched to a social organization, I can confirm there are many parts of this world that are fundamentally different from the for-profit space. There is absolutely a lot to learn but that’s what consulting prepares you to do- learn on the job and ask the right questions along the way.
Just go for it! A lot of folks found their way into consulting through deep networking and intensive case practices. As a result, we are generally biased towards only applying to companies where we know someone or can at least get an informational interview set up. That’s not a bad strategy but platforms like Movemeon can help us move beyond that. I didn’t know anyone at Jasmine when I applied. I saw a role that seemed interesting, in a company doing really exciting work. Don’t count yourself out too soon- the worst thing that can happen is you don’t get the interview. But who knows- you might just end up on your next big adventure!
Movemeon played such a big role in getting me connected to and finalising my offer with Jasmine. With other platforms, you send in your resume and never hear anything or run through 5 rounds of interviews before learning the role isn’t at all what you thought it would be.
After I applied for this role, Naveen reached out to me and asked for a very targeted introduction to send over to the team but also gave me an overview of the role, the team, and the starting salary. They gave me honest updates on what the team was excited about but also what I was missing, so I could address their concerns head-on throughout our early conversations. It really felt like I had a partner and coach heading into my calls with Jasmine, and they stayed connected through my move from Los Angeles to Auckland.
I’m so thankful for their help in both connecting me to Jasmine to start and keeping the process moving so I could focus on what was important- learning about the role and getting to know the team.
Strategy consultants bring problem-solving, analytical, and leadership skills to corporate roles.
This article explores the transition from strategy consulting to the corporate world. From problem-solving and analytical prowess at junior levels to emotional intelligence and team management at higher levels, Quentin explains the contributions strategy consultants can make in corporate positions, emphasizing the value of intellectual skills and sector-specific expertise gained in the consulting journey.
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Since the beginning of my career, I have had the opportunity to work in various environments, starting in a large strategy consulting firm before venturing into a private equity fund, and for the past few years, carving my path in companies, initially a SME and most recently a blue chip company. Through these successive experiences, I have gained a better understanding of the connections between these different environments and the value professionals can bring by crossing them.
Today, I would like to focus on the transition from the world of strategy consulting to that of the corporate world, a path followed by the majority of consultants.
Obviously, the descriptions here are primarily intended to provide a simplified portrait of the major strengths and weaknesses of consultants when they join the “real” corporate world. Each situation is unique, and there are exceptions to the mentioned trends. Additionally, this article represents only my personal and therefore subjective opinion.
It’s important to highlight that the role of “strategy consultant” actually covers very different realities depending on the level of seniority: from a junior consultant expected to perform precise analyses and communicate clear conclusions, to a team leader managing client expectations and their consultant team, and finally to a Partner developing close relationships with a client portfolio, usually within a specific sector, identifying the client’s specific problems, and structuring (and selling!) consulting missions to address them. Therefore, it is natural that the skills former strategy consultants bring to their new employers also evolve alongside this hierarchical progression.
However, the consulting world possesses certain characteristics that transcend roles and develop skills in consultants of all levels that are appreciated by companies: the ability to juggle multiple priorities within tight deadlines, and facing frequently changing issues, in an intellectually and physically demanding environment.
For many junior consultants (from the Associate grade up to Senior Consultant, which precedes Project Leader), the experience in a consulting firm is their career’s first. Outside the firm, they gain exposure to the corporate world through their assignments. Here again, the relationship they maintain with their client contacts, often very formal and limited, does not allow them to get a true sense of the diversity of profiles that make up a company.
Unsurprisingly, former junior consultants excel in structuring and solving problems, analytical power, synthesis and communication skills, both written and verbal. Thus, it is not surprising to see these individuals excel in roles as generalist “individual contributors” of internal consulting. This first role should be seen as a transitional phase before moving to more complex human and emotionally challenging roles.
Indeed, former strategy consultants often exhibit a gap between their intellectual skills, for which they were initially recruited and which they have enriched during their early career years, and their human skills (empathy, conflict resolution, team management, etc.), which often primarily develop through experience.
At a Project Leader or Principal level, strategy consultants are often appreciated for their ability to manage teams with high intellectual potential and, in some cases, for their sector expertise. Consequently, they are often called upon to lead transformation teams or internal consulting, and their interaction with high-level managers allows them to strengthen their emotional quotient before making the transition to a role managing P&L and a more diverse team.
Finally, at the Partner level, companies seek genuine sector expertise, and possibly a network of contacts. Indeed, the Partner operates for several years in a limited number (at most) of industries and functions that enable them to quickly identify the source of a problem and deploy resources (internal or external) to solve it. Former Partners usually occupy an executive committee level role, often in strategy, sometimes in finance or managerial responsibility roles, the latter two being more common when the Partner has prior corporate experience.
In conclusion, the contribution of former strategy consultants varies greatly depending on their level of seniority. However, in all cases, experience in strategy consulting enables one to develop specific intellectual skills, such as critical thinking and analytical abilities, as well as in-depth knowledge in particular sectors that can be highly valued in the corporate world. The creation of optionality is a major attraction factor of this career path.
This article was guest-written by Movemeon member, Quentin Toulemonde. You can find more from Quentin on his blog, The FT Explained.
Ex-consultants excel in Growth roles, leveraging problem-solving, networking, and a growth mindset.
Countless career options are open to you after consulting but Growth and Business Development positions are often the first step out of in-house strategy for consulting-trained professionals. We often get asked what are the skills needed to succeed outside of consulting, particularly in these sorts of functions.
Movemeon recently hosted an event with our partners at Trainline where we asked Matthias Mahr (VP International, ex-BCG) and Sakshi Anand (VP Growth, ex-Goldman) in the landscape of professional growth, what qualities set individuals on a trajectory for success.
The journey to the top is one for those with a knack for problem-solving, an appetite for continuous learning, and a genuine thrill derived from impacting both the top and bottom lines.
Expand Your Network:
Getting to know people within your company is not just networking; it's building relationships that foster growth. Curiosity becomes a catalyst for learning from others' experiences and perspectives. Getting to know and making an impression on leaders in an adjacent function like business development is often the best first step leading to an internal move e.g. from in-house strategy / transformation.
Choose Wisely:
Joining a company with a track record of moving individuals functionally provides a clear path for progression. Seek environments that value and support your professional development. Choosing a business with a strong growth trajectory will also likely offer more internal opportunities in the future.
Act Beyond Your Role:
Stepping into a role's seniority before being officially promoted is a mindset shift that accelerates growth. Embrace the responsibilities and challenges that come with the position you aspire to be in.
Believe in the Mission:
Aligning personal values with the organization's purpose creates a powerful synergy that propels both you and the company forward.
Leverage Your Strengths:
Identifying and playing to your strengths is your best bet when it comes to professional growth. Recognize what sets you apart and use those attributes to drive success.
Problem Solvers' Paradise:
For problem solvers, growth is a playground for innovation. Constant challenges become opportunities to showcase analytical prowess, resilience, and the ability to navigate uncharted territories.
Learning Enthusiasts:
Marketing strategies evolve rapidly. A passion for perpetual learning is not just an asset; it's a necessity. Thriving in a growth-oriented environment requires a commitment to staying ahead of the curve and understanding that what works today may become obsolete tomorrow.
Buzz from Impact:
A career in growth brings the thrill of witnessing tangible impacts on revenue and profit fuels the journey. Individuals driven by the desire to make a meaningful contribution to the top and bottom lines find their sweet spot in environments where growth is not just a goal but a measurable outcome.
Overcoming Fear:
Taking on overall responsibility and accountability, especially with the intimidating prospect of P&L ownership, becomes a challenge that growth enthusiasts willingly embrace. It's about turning fear into fuel for personal and professional development.
Coaching and Development:
At senior levels, the focus shifts from individual achievements to fostering a culture of growth within the team. Loving the art of coaching and developing others becomes not just a skill but a cornerstone of leadership.
Conclusion
In reality, being in a P&L leadership role doesn’t require a hugely different skillset (than the one you develop from in-house strategy). The biggest change is managing a larger and far more multi-disciplinary team. It far more becomes about coaching and developing others.
About the event
Our largest community event to date, it was so brilliant to see so many Movemeon members in attendance. A big thank you to our hiring partners, Trainline, who hosted the event where these great insights were shared. As well as to our guest speakers: Sakshi, Matthias, Joe and Giampiero.
If you’d like more information about how Movemeon partners with organisations looking to grow their teams, get in touch by filling out the form below!
Interested in content related to growth functions?
What's it like being a CEO? Discover the realities of the role. From decision-making challenges to redefining success.
Ever wondered what it's like to be a CEO? It's likely you have, as so many CEOs have a consulting background. We asked Joe Falter (former CEO and founder of Jumia and founder of Zapp, ex-McKinsey) and Giampiero Marinò (CEO at Treatwell, ex-BCG) at our recent event with our hiring partners, Trainline.
Spoiler alert: it's not always glamorous. When it comes to senior leadership, simplicity takes centre stage, success in the CEO role can be measured by the success and autonomy of your leadership team.
Our data suggests more than half of ex-consultants have ambitions towards the C-Suite. Alongside this article, we have a host of great interviews with industry leaders.
The Ultimate Decision-Maker:
At its core, being a CEO is about making decisions, often tough decisions. Simply put, it’s about effective capital deployment to further the business. Procrastination or avoidance only exacerbates challenges. Embracing this head-on is the essence of the job.
Resilience is imperative:
The position demands resilience. CEOs are faced with constant challenges, setbacks, and uncertainties. The ability to bounce back and navigate through turbulence is crucial for the role.
Juggling Stakeholders:
Balancing acts are part of the CEO's daily routine. Juggling investors, non-executives, and the senior team requires finesse.
Isolation and Networks:
Loneliness can seep into the CEO role, but building a network of confidantes in similar roles provides a crucial support system. Sharing insights and experiences becomes incredibly valuable in the face of isolation.
Success Redefined:
Success isn't about personal glory. It's when you feel redundant because your team is thriving independently. True success is when operational value becomes secondary to the team's autonomy.
Competitor Awareness without Obsession:
Keeping an eye on competitors is crucial, but obsession narrows thinking. CEOs should seek to redefine categories rather than simply play in them. Innovation often lies beyond the boundaries set by competitors.
Over-Communication as Strategy:
Communication is the CEO's most potent tool. Over-communicating, especially about company culture and strategy, ensures everyone is on the same page. It's a relentless effort to align visions and foster unity.
Feedback-seeking Culture:
Creating a culture where feedback, both praise and constructive suggestions, flows freely is an art. CEOs must actively seek feedback, as people won't naturally provide it. It's a vital loop for personal and organizational growth.
Conclusion
As Giampiero said, “The CEO role isn't for everybody but if you’re naturally resilient and can juggle many balls, it can be an extremely rewarding place to find yourself.” Beyond the spotlight, CEOs craft success not for themselves, but for the independence of their teams and the continued improvement of their businesses.
About the event
Our largest community event to date, it was so brilliant to see so many Movemeon members in attendance. A big thank you to our hiring partners, Trainline, who hosted the event where these great insights were shared. As well as to our guest speakers: Joe, Giampiero, Sakshi and Matthias.
If you’d like more information about how Movemeon partners with organisations looking to grow their teams, get in touch by filling out the form below!
Consulting hones skills in problem-solving, multitasking, and networking, key for start-up success.
Jumia, Monzo, Transferwise, Funding Circle, Zopa, Qonto, Gocardless, Jobteaser, Innovafeed are some of the most well-known and celebrated start-ups. And they were all founded or co-founded by ex-consultants. In this article, we look at why there are so many consultants founding successful businesses and leading start-ups.
We’d like to start by thanking the following for their time and great insights. Alexandre Prot (Ex-Mckinsey & Qonto founder), Aude Guo (Ex-Mckinsey & Innovafeed founder), Antoine Loron (Ex-Roland Berger & Hublo founder), Martin Pellet (ex-Kearny & LBF founder), Grégoire Schiller (ex-Roland Berger & Simundia founder), Nick Patterson (ex-McKinsey & Movemeonhttps://www.movemeon.com/ founder).
“Consultants that started with me at McKinsey had two things in common. Firstly, they were some of the highest achievers I’ve met. Secondly, they didn’t know what they wanted to do.” (Nick)
Consulting attracts high achievers as it is one of the most prestigious careers post-university. This is partly because the brands are so well known across industries. But also because it is recognised as a career that opens doors.
The combination of high achievement motive, and uncertainty around what you’re looking to do - not a single founder interviewed had entrepreneurship in mind when they joined consulting - means there are a lot of consultants who look to leave after a few years.
Turnover is extremely high in consulting. Whilst some of that is driven by “up or out” policies, the majority of the people leaving do so because they didn’t want to follow the track to partner. And this was commonly accepted within the business. People could therefore talk openly about leaving, and in return would receive great advice that would give you the confidence to launch businesses. Interestingly, both Nick and Alexandre mentioned that consulting gave them the confidence to launch businesses.
Finally, and that’s more an explanation of numbers rather than success, consultants know they have a strong employer brand to fall back on in case it goes wrong. It also means you have some very marketable short-terms skills. The option of freelancing gives you more liberty to try and start something.
The myth that consultants aren’t do-ers is regularly parotted. However, from what we’ve seen of peers and the consulting alumni community, quite the opposite is been true..
In the early days of setting-up Movemeon, the most common challenge we’d hear from potential employers was that they didn’t want to hire consultants. They were concerned that, whilst they were very good at advising, they weren’t good at executing.
Whilst I couldn’t agree more on the importance of execution, I think the common misconception about consultants not being good at delivery, is wrong. Martin said that the high day rates charged by consultancies (especially strategy houses) and the high-standards demanded by boards of large businesses, means consultants have an obligation to deliver results and have to learn to deliver at pace.
On top of being good do-ers and dealing well with time pressure, consultants are also particularly good at multitasking. Alexandre, in the early days of Qonto, was able to work on strategy, finance, management, marketing and even Office Management. Antoine also highlighted that in a similar way to consulting, when you’re an early stage founder you learn by doing.
Being good at multitasking, being a good “do-ers”, and working with tight deadlines, it looks like early stage start-ups have more in common with consulting than what we could expect!
Movemeon has been founded by two ex-Mckinsey and therefore our working has been influenced by strategy consulting. If I had to highlight two differences between past start-ups’ I worked for - not founded by ex-McKinsey consultants - and Movemeon it would definitely be the omnipresence of problem solving and prioritization in my day to day.
Those two skills are central to consulting work. Diagnosing issues (issue trees, driver trees) and using data to prioritise execution are the central aim of any consulting project.
Alexandre said that his consultant background helped him to structure his reasoning to tackle any complex problem. Aude and Martin agree on this point, in an early-stage start-up you keep resolving problems. How am I gonna finance this project? What type of offices should we choose? More generally, how do you do things efficiently?
Grégoire highlights that consulting gives you the structure to effectively prioritise using concepts like 80/20. Aude defines the ability to prioritise as hugely important. She said “It’s mostly about what you don’t do, not what you do. You need clear criteria to make the decision (not only for yourself but also understandable and acceptable to others; and something that is engaging).”
If the network is a pretty obvious benefit of consulting, I’ve been surprised how often effective communications have been described as a key skill learnt from consulting.
Consultancies have unparalleled alumni networks. A shared brand that means people are prepared to not only meet, but give you advice. This is invaluable in the early days, as you look to further develop your idea. Also perhaps more importantly, make your first few sales (if your product is B2B). Grégoire remembers using Roland Berger’s network for closing first clients. Unlinke business school, consulting networks are usually more senior than you and therefore unlock way more opportunities when you’re an early stage founder.
Working with senior people in consulting trains you in effective communication. Aude said “communication is key as 80-90% of the time, being a founder is about aligning people and getting quickly to the point. Our business has people of very different professional backgrounds and needs. You need to understand and address quickly what is important for each person in a way that is relevant for them to get them on board: how do you convey the real message (get to the point). It’s about not spending one hour on a topic if it can require only 3 minutes.“
Related to communication, stakeholders management is a key skill developed in consulting. You need to be able to communicate in the right way with everyone: investors, clients, suppliers.
Consulting and entrepreneurship are still obviously two really different worlds. Grégoire was saying that you have to unlearn consulting to do entrepreneurship as the way you take decisions can be very different. Nevertheless, consulting is undoubtedly a great training for entrepreneurship.
It trains you many key skills for early stage founders: Communications skills, stakeholder management, prioritization & problem solving. Having worked with 100+ start-ups, mostly founded by ex-consultant since 2 years and closing hiring like Director of Sales operations for 360Learning, Head of Germany for Hublo, Head of Partnerships for Luko, I knew consultants were a great fit for start-ups and those interviews confirmed the transferable skills that you get from consulting.
Are you looking for a new opportunity after consulting? Click here to view all jobs on Movemeon.
Are you hiring for your team? Get in touch with one of our experts for more information.
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