Have a Backup Plan for Your Management Consulting Career

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Financial Planning - Couple getting consulted

One of the sad realities that you and the other graduates have to face is not getting what you want. While the school is full of idealism, the real world is about survival of the fittest. Read more about the importance of a backup plan for your consulting career…

Even if you have finalized a five-year management consulting career plan before graduation, it may not be actualized when practical matters get in the way. It is then important to have backup plans to keep you going.

The Greatest Frustration in Management Consulting

The dying economy has not produced enough employment opportunities. More often than not, management consulting firms such as McKinsey, Bain and Boston Consulting Group receive huge amounts of applications. The competition is so high it causes frustration to numerous applicants. There are exceptional candidates to beat, challenging tests to take and thought-provoking consulting case study interviews to pass.

Importance of Backup Plans

While waiting for a break in management consulting, make use of your backup plans. Explore LinkedIn and the classified ads. Try out other jobs that fit your qualifications. There are two reasons for this. First, you need to make ends meet. Times are hard and you need to independently address the basic necessities in life. Second, it’s also a great way for you to build up your resume. Being hired to perform various duties and responsibilities gives you chances to enhance your analytical, leadership, communication and social skills in different settings. These are valuable for a wishful consultant.

Expanding Networks

Whatever job you land in, may it be in investment banking, finance, marketing analysis, or business development, treat it as an opportunity to meet people and expand your network. Your colleagues can always refer you to their contacts in management consulting firms. Also, though it’s not your ultimate dream, always keep up the good work. Never take it for granted. You’ll get more recommendations from your new network if they can attest to your commitment and ability to do your job well.

Flexible Part-Time Jobs

If you get hired in part time jobs, there’s one thing you should be grateful for: flexibility. While you’re off duty, you can go job hunting through job fairs, join clubs and organizations to enhance your competencies and comply recruitment requirements. If you prefer, you may also work double time and save up for further studies to push your resume to the top of the pile. While you still own your time, make the most of it. Spend it in a way that will prepare you for your dream job.

Management consulting is a perfect career area where fresh graduates like you can instantly earn way above the minimum wage. However, if the opportunity doesn’t fall on your lap as expected, it only implies you have plenty of time to prepare for the intense and long working hours. Remember that if you really deserve to be there, you will have it in your own time. Just stay positive!

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