Why do people tend to leave management consulting firms after 2–4 years?

When I joined a Big-4 consulting firm in the U.S., my plan was to get promoted in 2 years, get the experience and get out. I did NOT want to make Partner and I was VERY clear about having a life and a family.

I had already worked at a Big-4 Consulting firm for 3 years in the past and had learned a few lessons along the way to influence my decision:

The Positives:

1. Work with very smart people
   When I pivoted to Consulting after my MBA, I was, to be honest, a little full of myself. I was quite confident about my Finance and tech. skills when I joined Consulting. I mean — I had the client-facing analytical experience, I was a CA, MBA — so I must know pretty much everything about working in a client-facing project-based profession right? WRONG!
   I realized, not so quickly at first, that Consulting demands an entirely different skillset that focuses more on softer skills like relationship management, presentation, team development and networking to name a few. Needless to say, I had a very steep learning curve, especially in the first year!
2. Bring my “A-game”
   Of course when you work with the “cream of the crop”, you have to up your own game. It’s just embarrassing if you don’t. So I had to do my homework studying clients before the project starts, getting the right trainings to up my storyboarding and executive presentation skills.
3. Develop a Consulting mindset
   I strongly feel that the BEST skill my career in Consulting helped me develop, was the ability to connect the dots across multiple areas (functions/teams/projects /issues) in an organization and see the bigger picture. This is the single best value-adding skill I still use in all aspects of my career….and my life!
4. Work on multiple projects
   Throughout my decade long Consulting career, I worked on over 60 projects across multiple domains like Process transformation, Operating model design, Data strategy, Cost optimization, Automation to name a few. The best part was that I got the chance to experiment across industries like Banking, Insurance, FMCG etc., which gave me a flavor for a lot of domains. There is no other profession that does that…period.
5. Deep-dives
   Not only did I get a chance to dip my toes into multiple Functions and Industries, I also got to choose my focus area and dive deeper. I chose Banking because I’m a nerd :) but there is a whole buffet of exciting Industries that are witnessing the latest innovation and trends (Healthcare, Tech. Finance, Payment services etc.).
6. “Network to get work”
   OMG! This is SO true! I used to dismiss networking and be highly judgemental of people who were “networkers” before I moved to Consulting. But I kid you not……I have gotten 2 jobs (1 moving to a U.S. Big-4 firm and another moving to Industry) only because of my network.
   It was my 10 years in Consulting that made me appreciate the power of networking. And I did it my way….not in a cheesy salesy way (although I did experiment with that before I discovered my style!) that has helped me for mentorship and guidance to this day.
7. Life-long skills
   The skills I learned in Consulting — storyboarding, problem-solving, executive presentations, project management, client relationships, team management, running client offsites/workshops/labs are what I use in every aspect of my career. It’s like riding a bike…once you learn these skills, you never forget and they are in your arsenal forever.
8. Brand clarity
   The first time someone in Consulting asked me to ‘define my brand’ I thought they were kidding. “Is this an advertising gig or Finance & Strategy consulting?” I thought to myself. It took me a few years to appreciate the power of knowing your own brand and positioning that to showcase your value to clients/ Partners/ team members alike. Consulting helped me get crystal clear about my brand, value, and how to communicate it across to multiple stakeholders.

The Negatives: Well there had to be some ……

1. Highly competitive:
   There is a reason why top Consulting firms hire from the best Business / Undergraduate schools. These schools typically attract Type A personalities and Consulting is full of such ambitious, driven, competent, competitive people! Research shows that Type-As burn out faster unlike their comparatively easygoing cousin, Type-Bs who last longer in their career.
   I was definitely a type A when I started my Consulting career, but over the years, the never-ending demands of the profession started getting to me. I really had to think about my life priorities and recalibrate to stay balanced.
2. People-pleasing never stops:
   Most professions allow you to develop your work style, or at most customize it to your immediate senior’s work style. Consulting is one of the few professions where you have to change your work style with every client, every Partner that you work with, and every project that you work on. It can be EXHAUSTING!
3. Up or out:
   This was the traditional model in many top Consulting firms. The up or out model essentially means that the firm gives you a certain amount of time (2/3/5 years) to show that you’re ready to move to the next level: BA → Consultant → Senior Consultant → Manager → Senior Manager → Partner.
   This creates unnecessary pressure and some firms have now done away with it as they were losing top talent because of this rule.
4. Work-life balance:
   In the 10 years that I have worked in Consulting, I’ve seen some major milestones — getting married, moving countries, baby #1, baby#2 — all while working as a full-time consultant. I may still be a Type A…who knows?!
   And it got more and more difficult to balance my personal life, family, kids with the demands of my third child — Consulting. I loved Consulting, but the nights, incessant client demands and travel was what made me jump.
5. The constant stress:
   I didn’t realize this until I moved out of Consulting, but I was constantly stressed out about something:

• starting a new project
• working with a new Partner
• not having a solid pipeline
• feeling guilty about not spending time with my real kids and prioritizing my cranky third child (Consulting)
• being on the beach/bench (i.e. not having a project in hand)
• not getting promoted
• worrying if I would be able to cope IF I got promoted
• not having a solid network
• my solid network turning into vapor because a certain Partner left the firm
• CONSTANTLY worrying about whether I was liked enough by my peers/clients/seniors
• saying no to travel engagements because I had kids
• saying that I had kids and people judging me

Oh….and that 2-year plan?

Well….. 1 husband and 2 babies later, I finally figured out the way to navigate Consulting! It took 7 years but hey….life happens! I got promoted to Senior Manager (1 step below Partner), and as intended, moved on to Industry after I got the right role using my solid network.

So what’s your plan? Is Consulting a 2–4 year plan for you, or are you in it for the long haul? Write in the comments below.