46% of the 25k+ movemeon members are interested in working in a growth-stage start-up. PE&VC is also an industry that appeals to consultants & accountants on movemeon, and customer-facing roles are growing in popularity. When it comes to functions, the majority would like to work in strategy (we must point out that it’s hard to find a strategy role in a growth-stage start-up).
Where do consultants want to go? At Movemeon, we see what 25k+ consultants get up to when it comes to job moves. We all know that consultants are highly skilled, in-demand job applicants. We have also written about the industries, functions and locations that receive large volumes of applications from consultants already. So this article looks at something else: where do consultants want to go?
The rise & rise of start-ups
Start-up is the overwhelming winner when analysing where consultants want to go. 46% of the 25k+ candidates on movemeon.com would like to work in a growth-stage startup, and 32% in an early-stage one. This is not surprising. Start-ups give consultants an opportunity to finally see the impact of their work and fast. In fact, start-ups are now so popular that it can be hard to remember that this is a trend that emerged only over the last 5 years. (The popularity of the industry rose as the number of start-ups and the ease of starting a businesses increased, all thanks to the explosion of digital.)
Equally unsurprising is the popularity of Private Equity & Venture Capital, watched by 41% of candidates. Why? PE & VC requires a skill set similar to that of consultants. But, and this is a big but, as an investor, you are much closer to the final impact, so you have real ‘skin in the game’. (And then there’s the fact that it’s very well paid.)
Strategy vs. the start-up reality
While most consultants would like to work in start-ups, most (64%) would also like to work in strategy. This calls for a reality check: most start-ups simply do not have strategic positions until they get past the stage where they have, say, 100+ people. In growth stage, execution is infinitely more important than strategising, and overall strategy is set by the founders. So those consultants looking to move from consulting to start-up should consider operational and growth (which is basically business development) roles. These positions will still suit consulting skills, and they can be a good experience for a second (third, fourth, etc…) move to a strategy role.
What is most interesting to those of us behind the scenes at Movemeon is that mainstream industries no longer attract consultants. After the top 5 shown above, only E-commerce, Online/Internet services, Media & Telecommunications, Retail, and Consumer goods are attractive to more than 20% of our members. In other words, consultants want new, innovating and consumer-facing industries.
Like our advice? Hear even more at one of our events:
At our last private equity event, we had the pleasure of welcoming 4 private equity professionals to share their experience about the private equity world
Meet the inspiring CEOs of Trouva and LoveCrafts – join Movemeon in London on 22nd June 2017 and find out how they went from consultant to business leader.
At our 1st boutique consulting event with Hunch, CIL, 2020 & Advancy, we heard exclusive perspectives on the unique features of boutiques – read them here