5 Things I Wish I Knew When I Started Consulting: Insights on Workload and Compensation

Mr Nobody (Monkey_Junkie_No1)

Hatched by Mr Nobody (Monkey_Junkie_No1)

May 01, 2024

4 min read

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5 Things I Wish I Knew When I Started Consulting: Insights on Workload and Compensation

Starting a career in consulting can be both exciting and overwhelming. The fast-paced nature of the industry requires consultants to adapt quickly and make informed decisions. As someone who has been in the consulting field for several years, there are a few things I wish I had known when I first started. These insights could have saved me a lot of time and frustration. In this article, I will share five key points that every aspiring consultant should keep in mind.

  • 1. The Importance of Focusing on Client Work

One of the biggest misconceptions about consulting is the allure of extracurricular activities. While it may seem tempting to take on additional projects or initiatives, your time would be much better spent on your client work, which is what will truly get you promoted. Many people will try to convince you that these extracurriculars are "great opportunities," but in reality, they are often just distractions. If you are forced to take on such tasks, make sure they are high-visibility and low-effort. Remember, consulting companies make money by selling projects to clients, so being an exceptional client-focused consultant should be your priority.

  • 2. The Reality of Workload and Performance Ratings

Consulting companies thrive on keeping their employees chargeable, meaning they want you to be actively working on client projects as much as possible. This often leads to consultants being "crazy busy" for extended periods. However, it's essential to understand that this level of busyness does not necessarily equate to high performance. In fact, it can sometimes result in burnout and poor performance. It's crucial to find a balance and prioritize your well-being. If you consistently feel overwhelmed, don't hesitate to communicate your concerns with your superiors and seek support.

  • 3. Understanding the Complexities of Compensation

Compensation in consulting can be multifaceted, with various components such as base salary, bonuses, overtime, and commissions. It's important to familiarize yourself with how these elements are calculated and ensure you are being fairly compensated for your work. Recent legal rulings, like the UK Supreme Court's decision on underpayment, have had a significant impact on industries where overtime or commission play a substantial role in pay. These rulings have clarified that a three-month gap in a 'series of deductions' claim for unlawful deductions from wages will not result in time-barred holiday pay claims. It's crucial to stay updated on these legal developments to protect your rights as a worker.

  • 4. Taking Advantage of Performance Tiebreakers

In the consulting industry, performance ratings and promotions are highly competitive. In some cases, extracurricular activities can serve as tiebreakers in these evaluations. While I previously mentioned the importance of prioritizing client work, it's also essential to identify opportunities to take the lead and showcase your skills outside of your primary projects. Being proactive and demonstrating your abilities in high-visibility initiatives can significantly impact your performance ratings and career progression.

  • 5. Seeking Support and Building a Network

Consulting can be a challenging field to navigate, especially in the early stages of your career. It's essential to build a strong support system within your organization and seek guidance from mentors or more experienced colleagues. Connecting with individuals who have been through similar experiences can provide valuable insights and advice. Additionally, networking with professionals from different industries or consulting firms can broaden your perspectives and open doors to new opportunities.

In conclusion, starting a career in consulting requires a combination of hard work, adaptability, and strategic decision-making. By focusing on client work, understanding the complexities of compensation, and seeking support, you can navigate the challenges more effectively. Here are three actionable pieces of advice to keep in mind:

  • 1. Prioritize your client work and avoid getting distracted by extracurricular activities unless they are high-visibility and low-effort.
  • 2. Stay updated on legal developments regarding compensation, especially in industries where overtime or commission play a significant role.
  • 3. Take advantage of opportunities to lead and showcase your skills outside of client projects to improve your performance ratings and career progression.

Remember, consulting is a dynamic industry that requires continuous learning and growth. By applying these insights and taking proactive steps, you can set yourself up for success in your consulting career.

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