Top 5 Perks of working in Management Consulting #3
Ever wonder why people stay committed to consulting for the entirety of their career?
Of course, the variety of work and being able to make an impact are key. But what about the other non-work-related perks?
In This Week’s Blog We Will Explore 5 Top Perks And How You Can:
#1 Save more money
#2 Improve your credit score
#3 Have the latest gadgets by default
#4 Travel in style
#5 Corporate Events
Let’s dive into each of these:
#1 Save More Money
Because you’re expected to be on client site 80% of the time, you’ll save money by not having to pay for lunch, dinners, travel and other, day to day expenses (all within reasonable limits, of course).
In my early days of consulting (like many of my colleagues), I was staying at my family home and didn’t have to fork out a large sum of money on rents 💰 💰 💰– KERCHING!
Additionally, at KPMG there was a decent car leasing scheme, meaning you could get your hands on a brand-new car, which covered your insurance. As someone under 25, I appreciated not having to pay thousands of pounds on insurance costs like most of my friends.
This naturally gets you into the habit of saving most of your salary in the future to help in investing in stocks etc.
#2 Improve Your Credit Score
Because you’re travelling frequently, you’ll either be a given a corporate credit card or expected to use a credit card of your own. I preferred the latter, as any points accumulated would be utilised for my trips or personal purchases.
Every month or two weeks, I’d be reimbursed for all the costs accrued due to my travel for business purposes.
As someone fresh out of university, you likely haven’t built up a huge credit score, however, this accelerates your credit score significantly. This of course helps when you apply for any kind of lending in the future, including personal loans or even a mortgage.
#3 Have the latest gadgets
Since the work you are doing is critical for the client, there is an emphasis on having the latest laptops and mobile phones to ensure that you can productively be a bad-ass consultant.
And by latest, I don’t mean just new, I mean the most reasonably expensive version of the laptops. The Dell I was using at KPMG, was easily more expensive than the typical MacBook Pro.
Since iPhone seem to be the popular choice for reliable mobile phones; I was also offered the latest iPhone at the time, with a generous tariff package, allowing it to be used across the EU. Going back to point 1, I didn’t need to use my personal phone and hence saved money.
#4 Travel In Style
This is by far my favourite point; the number of points you accumulate with airlines, hotels, rail companies etc. are more than you can imagine.
Since I was travelling from Manchester to London regularly on the Virgin Trains (now known as Avanti), I managed to get myself on the “First Class Pass” loyalty programme. This meant I, along with another person could travel first class totally free on Virgin Trains at the weekends. Not bad huh?
As I was staying at the Hilton hotels, you’d quite typically be given a free upgrade and accumulate points. These points would then be spent on my personal vacations throughout the year.
Similarly, the accumulation of British Airways points, helped me travel (in style ☺️) with free upgrades to business class on long haul flights.
All in all, I truly enjoy the aspect of travelling for consulting, as it opens up so many other opportunities, and allows me to interact with my respective counterparts and put a face to many names mentioned in emails or on calls!
#5 Corporate Events
Finally, consulting firms love hosting big events for their employees. Every week, I would end up having dinner with my colleagues on the project.
Quarterly, there would be large events to get together and network with other areas of the business. As you get promoted through the ranks, there would be large corporate training sessions usually held in other countries like the US / EU.
There would be endless opportunities to network, get solid training and meet like-minded people from diverse backgrounds. When you are nurtured in an environment like this; you naturally grow to be confident in your work.
I hope this blog has been insightful and has helped answer some of your questions about consulting. If you would like to be kept informed of more great content like this, subscribe to my newsletter.