Consulting or Startups: what to choose?

Working in a startup has emerged as an increasingly attractive choice compared to a career in strategy consulting. We all have that person around us who integrated the next tech nugget at the beginning of the adventure and who was able to make a fortune at the time of an IPO (Initial Public Offering - IPO). Both career options offer specific advantages and disadvantages. If you are hesitating between these two options, continue reading this article. We help you guide your decision.

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Working in a start-up - advantages and disadvantages:
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We spoke with fifty people divided into two groups in order to write this article: the former only knew about working in start-ups while the latter were able to work in consulting and start-ups. Even if they formulate them differently, they are finally quite unanimous on the pros and cons of working in a startup.
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Côté pros,

• All of our respondents cite all Accountability faster. Indeed, and unless you join a Scale Up, you will most often have to work in small companies (less than 50 people). You will therefore be much more likely to be a team leader or to hold a young management position. Nobody is shocked by a C-level (CEO/CTO/CFO/CPO etc.) under the age of 25 in the Startup Nation. This accountability is a real opportunity to learn the reality of a company on the ground, especially in terms of team management and good financial management.
• The second advantage most cited by the interviewees was the more important place given to personal initiative. The essence of working in a startup is to try to do things that have never been done before. If you are creative, such a work environment will give you the opportunity to express this aspect of your personality and take initiative, which can be very rewarding.
• The third advantage that derives from the first two, the rise in skills, especially in terms of Hard Skills. Very often in start-ups, you will have the opportunity to discover new working tools and new methods, which will constitute a certain background for the rest of your professional career. This is especially true if you occupy positions with a technical part, whether in product, in data or in operations.
• Another advantage mentioned, The meaning work that can be more obvious in start-ups than in day-to-day strategy advice. Indeed, if the start-up you are joining potentially contributes to improving the lives of tens of thousands of people, waking up every morning immediately becomes more pleasant. This sense may be present on some strategy consulting missions but - and this is not a new reproach for consulting firms - it is not always obvious. ‍
• Last benefit - and not the least for some of you - is less formalism In a start-up, you won't have to wear a shirt and a suit every day!

With respect to the disadvantages,

• The most obvious is Uncertainty that reigns over the future of the company you join. By definition, a start-up is a riskier adventure. Moreover, the chances of failure of this type of business are much higher. Successful companies are those that manage to identify the long-term growth model and that capitalize on their competitive advantages to take leadership in their respective market (s).
• Second disadvantage, directly linked to the first, the lack of structure and the less mature work environment may not be suitable for all profiles. Indeed, start-up days are often intense with staff.”Understaffed“. In addition, the average level of professional experience of your colleagues is generally quite low or uneven. People who can help you progress won't always have the time to do so. This has a direct impact on the quantity and quality of Feedback that you will receive on your work, which could delay your learning and progress. Ce lack of actionable feedback is a major point of differentiation with positions in strategy consulting.
• A third disadvantage to anticipate, which cannot be generalized to all work environments but which is present enough to be mentioned to you, is the blurring of the border between professional and personal life in start-ups. Start-up corporate culture is often still in its infancy and can sometimes be unhealthy (the Instagram account). @balancetastartup is quite informative). So be careful to choose the company you join carefully.
• Last disadvantage to note, managers with a lack of experience can entrust you with very operational and repetitive tasks, which can quickly turn out to be frustrating if you want to do more intellectual thinking. This lack of strategy and”big picture”, if it is not always valid, is also a trap to avoid in start-ups.

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Ok, what about strategy consulting then?
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There are many benefits of working in a strategy consulting firm, regardless of your level of professional experience. Intellectual challenge and emulation, comfortable salaries, international career, international career, diversity of missions and industries, structured and healthy work environment, etc. We have written for you An article detailing the 6 biggest advantages of this type of position here. With regard to the remuneration paid, We tell you everything here. Consulting is an industry that has attracted the best talent in the workforce for over 80 years, regardless of trends that come and go. This is less true for start-ups.

Côté inconveniences, in addition to those already mentioned in the previous paragraph, we can cite the lack of meaning and the sometimes “bullshit” side of certain projects or even the lack of diversity And a certain Elitism sometimes criticized the firms (even if all of them have made great efforts on this in recent years).

Conclusion:
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The dilemma of working in a start-up or in strategy consulting is a great choice to have. We recommend that you choose the option that brings you closest to your long-term goal. And keep in mind that it is entirely possible to make a transition in both worlds (even if the most predominant meaning is that of ex-consultants joining start-ups). Personally, we think that strategy consulting is an excellent choice to start or accelerate your professional career. Once trained, a transition into a start-up can be very rewarding, for all the reasons mentioned above and in particular if you want to become an entrepreneur yourself. Good luck!

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Unsplash photo credits: Austin Distel austindistel