Social life and lifestyle of management consultants

Social Life and
Nine Common
Lifestyle of
Management
Management
Consulting Fit
Interview
Consultants
Questions

A consultant’s typical day

What is a typical day like for a consultant? Well, one
thing’s for certain—no two days are the same.
Management consultants are no-nonsense, objectiveoriented go-getters. Their knowledge and experience
are highly valued across many industries. Because they
carry many responsibilities on their shoulders, their
day-to-day lifestyle is packed with challenges and
rewards.

In this presentation, you will learn:

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•
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Lifestyle perks of a consultant
Challenges of a consultant’s lifestyle
Maintaining strong relationships

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2

Competitive
salary

Compensation in the elite consulting firms is very attractive compared to jobs in
other industries. Consulting is a popular and potentially lucrative industry. In fact,
an analysis from Harvard Business School reveals that the consulting industry in the
U.S. alone generates around $100 billion in annual revenues. Many consultants earn
a high and steady income—associates are likely to make a six figure salary or more.

Laptops and
Smartphones

While this perk is not unique to management consulting, it’s pretty great
nonetheless. Consultants are given a top-of-the-line corporate laptop and all sorts
of related devices such as a wireless mouse, portable USB drives, etc.
Most firms also provide smartphones to their consultants and cover a significant
percentage of the monthly phone bill. Some like this perk; others, not so much.
While connectivity is a great benefit, it also means the inevitably frequent workrelated updates.

Business-class
flights

If you’re the type of person who enjoys traveling, consulting offers plenty of
opportunities to see the world. Most consulting firms, particularly the top ones,
provide their consultants with business-class flights for long trips. The benefits of
flying business class are obvious— better food, better service, and better seats.
And that’s just for long domestic flights; when you travel international business
class, the flight instantly becomes a vacation in itself.


3

Points!

Earning points is one of the best consulting perks. Because consultants travel on a
regular basis, they earn points (free room upgrades, flight upgrades, priority
access, etc.). From hotels, to car rentals, to flights, you’ll benefit from a variety of
points programs; you may even rack up enough points to cover personal vacations.

Team events and
team dinners

Consulting projects are teamwork-intensive, so firms dedicate a great deal of
money and energy into helping teams develop working chemistry and camaraderie.
Planning and executing events may mean extra legwork for junior consultants, but
it also means dining at some of the nicest restaurants in the city. And that’s just for
team dinners; team-building activities usually consist of an entire day of fun!

Office events
and off-site
training

In addition to team events, consulting firms place a great deal of importance on
office camaraderie, which means plenty of company events. Consultants can
expect regular office happy hours as well as sponsored meals, holiday parties, etc.
Moreover, off-site training events are common in the consulting industry. There are
plenty of periodic weekend-long off-site conferences and training events.
Regardless of which consulting firm you work for, several times a year you’ll get to
attend weekend-long parties which are masquerading as training sessions or skill
building workshops.


4

Exhaustion due
to demanding
hours

The physical effort in terms of working hours is demanding. Most consultants
consider a 60-hour work week a normal schedule, and some even put in an 80hour work week. As a consultant, you’ll have to work hard to meet the demands
of the profession. Getting four hours of sleep in order to meet the deadlines of a
particular consulting engagement is sometimes necessary, and although this isn’t
always the case, you can expect to suffer from exhaustion on occasion.

The consulting industry is known to take a toll on a consultant’s personal and
social life. Given the demanding hours, you may not be able to have breakfast
with your kids or return home before they go to bed. In all likelihood, you may
not be able to make any commitments in the evening outside of work. And even
if you do, you better forewarn your family, significant other, or friends that your
plans could change due to the immediate demands of your job.


5

The work-life
balance issue

Most recruiting presentations given by consulting firms include a lengthy section
about work-life balance. The presentations showcase a consultant who has an
overwhelming work schedule but still manages to spend time with family and
friends. This pre-emptive sales pitch is a clue that your work-life balance will
likely suffer. You’ll have to work long hours and endure stressful deadlines. You’ll
also spend most of your time away from home. So despite what the sales pitch
may try to tell you, a consulting career can take a toll on your personal
relationships.
For young aspiring consultants, this isn’t a deal breaker. Many are willing to
compromise their social lives for career advancement. However, as you get older,
the sacrifices you make become greater.

Relationships
and consulting
lifestyle

A consultant’s lifestyle can be tough, and not just for the consultant, but for his
or her friends, family, and relationships in general. Being away from home means
missing out on a lot of important family events—birthday parties, impromptu
lunches, anniversaries, and more. Your friends and family may feel like they’re
not on your list of priorities because you don’t make time for them, or worse,
they may stop inviting you to events all together.
Many consultants have troubled relationships because they’re inadvertently
disconnecting from their personal lives because they’re tired. Although you’ll
have the weekend to spend with your loved ones, you may not want to make an
effort to reach out because all you want to do is relax. That’s when relationships
start to fade, and troubled relationships will negatively impact your happiness.


6

Although the reality is that the demands of a consulting career may greatly affect your relationships, it’s
still possible to maintain strong personal relationships while continuing to fulfill your consulting
responsibilities. All you have to do is be proactive and deliberate about how you nurture and maintain
these important relationships while finding ways to be more efficient.


7

Assess your
relationships and
manage changes

With any consulting project, you need to know where a company is, where it wants
to go, and what is needed to develop a solid strategy. Your relationships should be
no different. Accept the fact that things will change or have changed and assess
what you can do about it. Some of the initial questions you might want to reflect
on include: Who do I need to see each week to feel connected or recharged? Who
needs my attention the most? Who could I distance myself from?
A prestigious and demanding career means that your time at home will be limited,
so understanding where you really want to spend your time can help keep your
most valuable relationships in tact.

Consistently find
new ways to stay
connected

After you’ve identified your different groupings of friends, make an effort to look
for new ways to foster the relationships. Determine how frequently you can
connect with them and how you want to interact.
You’ll likely recognize that how often you keep in touch with someone might need
to change, which is ok; after all, if you’re only home three days a week, you can’t
possibly see all your closest friends and get everything done. That’s why you need
to be aware of your inner circle—those who you really want and need to spend
quality time with each week or every other week. For others, you may not be
able to stay connected as regularly; however, as they say, if there’s a will, there’s
a way. There are ways you can keep in touch without giving up all your time. You
just have to be creative!
Some great ideas are enumerated on the next slide.


8

Set quick Skype
dates

You can do this wherever you are, at your most convenient time! A quick Skype
conversation can make someone feel that you still care about him or her.

Once-a-month
dinner groups

This is a great idea because you can see multiple friends at the same time.

Five minute
AIM/Yahoo/Skype
break

In between meetings or at lunch you can say hi to someone you haven’t seen for
awhile. A thoughtful “just checking in” message can definitely go a long way in
maintaining healthy relationships.

Call or text to say
hello on your way
to or from work

If you find yourself really busy and constantly on the go, you can send a short text
or make a quick call to someone on your way to work. Of course if you’re driving,
you should use bluetooth technology.

Comment on
Facebook updates

If you have the time to visit your social media accounts, use this as opportunity to
stay connected to your friends and family, especially those who aren’t part of
your inner circle. Comment on their status, pictures, and other updates. This will
show them that you’re interested in what’s happening with them.

Find ways to let
your friends into
your life

You can blog or tweet to let them know what you do. This will make them feel
that you’re not becoming a complete stranger to them.

Good old fashion
email

You may have forgotten that emails are not strictly for business purposes. You can
send out short, personal emails to your friends to let them know you still care
about them.


9

Keep yourself on
track

Yes, consultants get really busy and forget some important things once in a while.
However, if you want to maintain a work-life balance, find ways to keep yourself
on track. Schedule things on your calendar to serve as reminders. Being more
organized will help you stay on track and your relationships will improve.

Tell them what
to expect

You may have a solid plan, but the reality is that your plan can change due to the
immediate demands of the job. It’s important to talk with your family, significant
other, and friends about what they should expect. When people know what to
expect, they won’t feel bad if you are unable to attend an event or when there is
a sudden change of plans. Avoid messy misunderstandings. Explain that things
may change which are beyond your control, and share how your consulting
position greatly affects your lifestyle and what their relationship means to you.

Prove to them
that they matter

What people perceive becomes their reality. If your friends and family perceive
that you don’t have time for them, they’ll eventually write you off as not caring
about them. What can you do to avoid this? In general, be proactive and never
stop trying to prove to them that they do matter (even in your own little ways).
Schedule standing events or take advantage of flexible travel and bring your
loved ones with you one weekend. These things will reassure them that even if
your work is demanding, making time for them is still a priority.


10

Free Guide: Learn How to Break Into Consulting

Do you want to break into consulting? Download our free PDF guide, which
will show you the necessary steps and best practices on how to prepare.

1

2

3

Consulting Interview Process: Get an overview of the
application and interview process when applying to
management consulting firms. Receive tips on how to write
your cover letter and resume and get prepared for the
written tests and interviews once you get there.
Interview Preparation: Learn what you need to practice to
receive an offer from one of the top-tier consulting firms.
See our step-by-step framework to case study solving, learn
how to develop your own frameworks and get mental math
tips.
Case Study Example: Know what to expect from a case
study interview round. Read a real-life case study interview,
which includes a variety of topics. See the practical
application of the step-by-step framework to case study
solving.

Social life and lifestyle of management consultants

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Social life and lifestyle of management consultants