Unsere Erkenntnisse sind detailliert und gut recherchiert. Sie behalten den Überblick darüber, was auf dem Markt passiert, und ermöglichen es Ihnen, der Konkurrenz immer einen Schritt voraus zu sein.
Sign up to our newsletter to get exclusive insights and never miss an article.
The pay gap is everywhere, and it’s high.
It’s a commonly held belief that the national gender pay gap is largely driven by gender-based variation in career choices, and that more high profile discrepancies in the world of media and sport are due to institutionally entrenched biases that are soon to be left behind us. However, based on 20,000+ data points from ex-consultants and those in similar professions, the gender pay gap pervades even professional service industries.
What is particularly galling is that the differences are stark even at the most junior levels – this is not a legacy issue reflected by fewer women higher up in organisations, but instead suggests that a deeper unconscious bias is affecting pay decisions across the board.
In fact, at senior levels, since 2018 the gap appears to have widened. Women are paid between 12-20% less. Their pay rises are also smaller.
Subscribe to our newsletter below to receive our latest insights, career tips, industry experts interviews, and more straight into your inbox:
* indicates required
Email Address *
First Name
Last Name
Marketing Permissions Please select all the ways you would like to hear from : Email
You can unsubscribe at any time by clicking the link in the footer of our emails. For information about our privacy practices, please visit our website.
We use Mailchimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. Learn more about Mailchimp's privacy practices here.
Movemeon’s candidate platform is designed to make the job search a seamless, candidate-centred experience. So even basic use makes for easy discovery of relevant, exciting job opportunities. But our analysis shows that these additional (and free) features significantly increase applicants’ chances of being hired.
Movemeon: jobs, insight, events and career tips for (ex-)consultants and freelancers.Click here to create a free account and access all our opportunities.
Write the perfect resume (CV) using consulting skill. Every year 100s of people get in touch with Movemeon asking career questions. One thing that almost always comes up is whether their resume (and we use this word instead of CV for a reason – more below) is doing them justice. Almost always, the answer is ‘no’ and almost always for the same reason.
Here’s the advice we share and it’s exactly what they already know from consulting.
There’s loads of research on the average time readers spend on CVs. Some say as little as 6 seconds. Whatever the exact number, the point is, it’s not very long.
Think about how you put a presentation together. You define the most important messages. You cut the other stuff. You use an appendix for the detail. You tailor the message to your audience. You create an executive summary. And you can verbalise that in an elevator pitch.
Again, think about your presentations. They’re not cluttered. They have 1 key message per slide. And each message has a few supporting points. You use font size and style to highlight what you want the reader to focus on.
The reason we say resume is because it’s a summary. It’s exactly what you should be aiming for. In contrast, CV is derived from an academic document which sets out all qualifications, publications etc. It is lengthy. And credibility is often derived from the length.
Here’s what you’d do if you applied your consulting skills to your resume:
1-3 are highly important. But 4 is where we see most people go wrong.
The most commonly used differentiators on a CV font are bold, underline and caps. But they are more often than not used to draw attention to generic things. Things that aren’t the elevator pitch for ‘why me’. Things like:
You get the drift. Imagine if, instead, the reader could use the differentiated text as an indicator of the bits of the CV they really should read. i.e, the stuff you really want them to read. And – less being more – you removed the stuff that’s nice to have (you can always voice that over at interview). You want them to scan down and quickly tick all their boxes. So for me, I’d use differentiated text – bold being the most obvious choice for:
To really hammer home how this works, here’s a worked example. Let’s assume Movemeon goes to pot (don’t worry, it isn’t) and our founder Rich applies for a General Manager job at another growth start-up. Here are the bold parts; everything else would not be highlighted such that the reader can just read the below and ‘tick all their boxes’:
Richard Rosser (name needs to stick)
Start-up Founder and former McKinsey consultant. 5 years management experience growing tech-enabled start-up. Operational responsibility for team of X spanning marketing, sales & product and generating X revenues growing Y% YoY. Seeking similar leadership role in a growth company. (this is the 2-3 line personal summary at the top).
General Manager (current role – it’s what you do & it’s what they’re after)
Team Management (skill 1; the job calls for a seasoned leader. Follow with 2-3 relevant bullets)
Marketing – user acquisition (skill 2; their main challenge is scaling use)
Revenue generation (skill 3; they want to start monetising)
McKinsey & Company (their Founder is ex-consulting)
Oxford (they are picky about top tier academics)
We've given this advice hundreds of times ad hoc and in person. So here it is for all! We promise (and there are many examples) that it works. Hopefully, in applying the same logic used for any presentation, you can easily see why.
Movemeon co-founder Rich published some intel that will massively improve your writing. Take a look here to get the best advice!
Private Equity funds need more consultants - This article is written by Quentin, our member who moved from consulting to private equity through Movemeon.
A couple of years ago, Movemeon offered me my first experience in the private equity (‘PE’) world. I joined TowerBrook, a mid-cap private equity firm investing in SMEs in North America and Western Europe, as a Portfolio Group Associate. Having been catapulted as the first junior non-investment banker hire in the firm’s 15-year history has convinced me that the world of private equity governed solely by bankers is certainly over and that strategy consultants will play a greater role in the future.
In my view, there are (at least) 7 reasons why:
1. Financial skills are now widespread in the industry and do not represent a competitive edge anymore.
The days where only a handful of ‘geniuses’ mastered the intricacies of financial leverage are long gone. Every year, thousands of students across the globe graduate in a financial engineering-related subject. As a PE firm, shaping a team solely around those highly specific skills does not suffice any more to create a competitive edge.
2. Conversely, in a world where ‘too much money is chasing too few deals’, operational improvement stretches the field of possibilities. Private equity firms are now holding an all-time high of c. $1,300bn in ‘dry powder’, i.e. committed but non-invested capital – see chart below. As a consequence, the competition for assets is fiercer than ever and tight auction processes have become the rule. The tension between private equity investors’ two main objectives, namely meeting price expectations while delivering satisfactory returns to investors, has subsequently increased. Analysing the target not only from a financial but also from an operational angle is the only way to alleviate this tension.
3. Setting up a portfolio team is however far more easily said than done. There is no perfect model and each private equity firm will have to decide on the best structure and operating model given its overall strategy. Typical questions, to begin with, are: shall we go for a thin portfolio group supported by a network of experts or a fully-fledged team? Shall we only target experienced hires or shall we include more ‘hands-on’ junior profiles? Shall we favour generalist or specialist backgrounds? As returns from successful investments diminish, ‘stress-testing’ the investment thesis from multiple angles becomes increasingly important: The corollary of the previous point is that ‘bad’ investments are relatively more penalising than before. Nowadays, thorough and multi-faceted due diligence is crucial to any investment.
4. Operational improvement strategies are becoming increasingly complex and now have to be handled by specialists. Private equity firms have been implementing basic cost-cutting and cash management techniques since the mid-1980s. However, the share of ‘secondary’ deals (i.e. a PE firm selling to another PE firm) has been steadily increasing and the room for obvious cost reduction measures has significantly shrunk as a result. This trend has led private equity owners to seek more holistic and acute transformation programmes whose implementation requirements often go beyond the traditional investment banker’s skillset.
5. Private equity firms are progressively acknowledging the importance of the ‘voice from the ground’, which consultants are trained to listen to. Private equity owners have realised that the success of an investment is highly correlated with the calibre of its executive team. A rising number of former headhunters and former HR directors have consequently joined PE firms in order to assess the quality of the management team during due diligence and develop the team throughout the investment lifecycle. A single ‘talent manager’, however, cannot cover an entire company portfolio. Strategy consultants can use their ability to develop two-way relationships with their ‘clients’ to act as day-to-day links. Indeed, in a private equity environment, not only can former consultants influence and steer the firm’s strategy but also they can actively listen to the concerns of the management team.
6. Former consultants are best placed to get the most of current consultants.When PE firms hire McKinsey, BCG or Bain, they do not care about slide formatting: they want to see analysis and recommendations. Having been on the other side of the table gives you a unique advantage to ‘skim the fat’ from due diligence reports and to enter more quickly into productive discussions.
7. Running an operating team will become a ‘must-have’ investment criteria for Limited Partners – and for the general public. Jack Welch, former Chairman and CEO of General Electric, was appointed Senior Advisor at PE firm Clayton, Dubilier & Rice (‘CD&R’) in 2001. I am sure that Mr Welch’s wisdom is valuable to CD&R’s management teams, but undoubtedly there is also an element of public relations at stake here. Furthermore, the excesses of private equity have left a bitter taste in the mouth of the general public – millions have read Barbarians at the Gate. Operating partners give a more human face to the private equity industry.
Subscribe to our newsletter below to receive exclusive insights, career tips, and industry experts interviews straight into your inbox every month:
There are many reasons why one would want to leave consulting. And although there are many perks of life outside of consulting, and many other career paths to follow. There are also benefits from staying, which we will highlight below.
Consulting skills are extremely transferable. You work with some of the most capable people in the business. The skills you develop are highly sought-after in the job market. These are one of the most attractive aspects of following a career in consultancy.In consulting, there are also many benefits in learning professional management skills and technical skills in a quick turnover period. Being able to see a lot of different corporate operating environments before going straight into what you want to do is a huge perk. The additional reference points are great perspectives to know what good/bad look can look like. Consulting can also train people well from a comms and upwards / downwards / self-management perspective that sometimes the lack of structure in tech may not provide to the same degree. Many have had a great experience transitioning from consulting to tech.If you choose to stay in consulting, you also learn tangible business semi-basics (valuation, strategy, financial modelling…) – which is highly relevant in the UK where newly graduated candidates from all degrees can enter consulting. These transferable skills remain as sought after as they ever were.
The average senior analyst-level salary in a large consultancy is £52k. If you are a consultant with McKinsey, Bain or BCG, that number is even higher – closer to £60k. If you stay in consulting for most of your career, your pay will gradually increase to over £150k at director level (and over £250k at the same level in McKinsey, Bain or BCG).In general, consulting earnings are £45-270k, depending on seniority and the type of consulting firm. At junior levels, corporates and consultancies pay better than start-ups. However, the opposite is true at senior levels in a popular industry for ex-consultants such as start-ups. This is driven by the value of equity. Up to Manager level, consulting pay exceeds corporate and start-up pay; eclipsed only by private equity.Start-ups and scale-ups, for example, have become very popular destinations for consultants to move to. On movemeon growth stage start-ups receiving 24.59% of applications. Although this is a popular option, start-ups are unable to afford to pay the best salaries to ex-consultants. So the pay advantage of staying in consulting is even starker at junior levels than compared to corporates. At Manager level, for instance, pay in start-ups lags consulting by 20%.
Despite the rise in huge tech brands, consulting still remains a fast-track. And certain brands in particular (in a similar fashion to the university/school you attended) are a rubber stamp of calibre. After many years in consulting, you are sought after for opportunities that wouldn’t be thought suitable for those with only a few years of experience elsewhere. Former management consultants can potentially make great CEOs and senior leaders.If you choose to stay in consulting, you are in a good position to start planning your next move well in advance. Most reputable headhunters are always happy to speak to good candidates even if it’s just to establish a connection or to learn about the market. Look for people who have been working in the sector for a long time and understand the landscape well.
Consulting is a great career to follow and develop in. Yes, the majority of people use it as a stepping stone ‘into the industry’, but for many, it becomes a lifelong pursuit. And there are lots to recommend it: the variety of interesting problems to solve, super smart colleagues, travel, constant interaction with (often new) people – clients or colleagues. Our co-founder Rich says “I look back very fondly on my McKinsey days. I worked with great people, travelled the world and learnt a lot – all in a few years! However, given the opportunities on offer, if I had my time again, I’d make sure I got even more out of it.”
Focusing only on day rates, the gap between freelance and permanent pay can look quite large, even if this gap tends to decrease with seniority. However, hiring permanent employees implies hidden costs that need to be considered.
Speak to us or email: info@movemeon.com and we’ll support you through your hiring project.
National insurance and pension contributions from the employer represent permanent employee costs that are usually not considered as high as they really are. In value, these contributions represent more than 10% of the total annual compensation for permanent employees.
These costs don’t exist when you hire a freelancer.
One of the main differences between freelance and permanent employees is that you pay freelancers based on the actual number of days they work on your project. When it comes to permanent hires, it’s a bit different. You have to consider sick days, paid holidays, bank holidays or even weekends. There are 260 weekdays per year but a permanent employee, on average, will work only 223 days.
Taking this into consideration, the effective average day rate for a permanent employee is £411.
You’ll invest more time in the onboarding process for a permanent employee. Also, you’ll have to consider training costs. Because you hire freelancers for their expertise, onboarding will take you less time. A freelancer will be ready to work as efficiently as possible faster than a permanent employee.
Regarding offboarding: freelance contracts can be ended with little to no notice. There are a number of reasons why you may need to let people go. Termination of permanent employment brings costs that don’t apply to freelancers. Hiring freelancers also mean hiring at a lower risk, knowing sunk costs will be minimal if the contract has to be ended.
Freelancers can be hired much faster than permanent employees. Recruiting for a freelancer can take just a few days on Movemeon. Freelance interview processes are generally fast as hiring managers are focused purely on competency, not team fit. In contrast, recruiting for a permanent employee takes a number of months. During this time, businesses may suffer simply because there is nobody in the role. Simply put, there is an opportunity cost to the business.
Looking for freelancers and need some more info?
How to get an interviewer to like you - The interviewer, a potential future colleague, after all, is simply looking to answer the question: do I get on with, and can I see myself enjoying working with, this person?
Once you’ve been asked to interview, you can rest assured that the interviewer is confident that you have the right experience, skills and qualifications to do the job. Otherwise, they wouldn’t have invited you in (they have read your CV and cover letter after all).
Yes, there might be a few “skills” boxes to tick (a case study in a management consulting interview for instance) – but these should be well within your comfort zone given your experience, skills and qualifications. The interviewer will want to get them out of the way quickly and tick that box on their interview sheet.
Much more important to an interviewer is whether or not they warm to you as a person. So try to be yourself and direct the conversation (for at least a small part of the interview) to personal interests, family etc. You’ll likely find some common ground (same interest, same age of kids, live/holiday in the same area) to talk about. The result of this is that you’ll relax and the interviewer will also feel comfortable in your presence.
An important point that’s easy to miss is that: if you don’t get on with the interviewer, it’s worth reassessing whether your personality is a good fit for that company. To many people, the most important aspect of a job is working with people that they get on with – so if you didn’t click with the interviewer but are offered the job, ask to go back to meet them again and also to meet some colleagues so that you can get a better feel for the company culture.
We recently read the following article suggesting 3 ways to build rapport and ace the interview. We’ve highlighted in bold bits we think are particularly useful.
While your skills and experience are important elements to securing a job offer, just as important is your ability to build rapport that is natural and engaging with your interviewer. The rapport you establish during an interview can greatly impact the impression you leave behind.
Building rapport occurs in many ways. In addition to having subject matter that you both can relate to, it is also very much about body language. The handshake you offer when you first meet your contact, how you stand and sit, your facial expression and eye contact, to where you place your arms, hands, legs and feet is all part of body language to help establish the confident and engaged impression you want to leave with the interviewer. The more engaged you are and the more similarities the interviewer sees in terms of your body language, the easier it is to establish rapport.
Effectively building rapport is what gives many candidates the leg-up in the company’s interview process. Even if the candidate does not have as much experience as another candidate, he is seen as more favourable because he’s been able to connect with the interviewer in a way that is more relatable and can be seen as fitting along with the rest of the people at the company. Those who do the hiring want to know that the candidate is someone they themselves would enjoy working with.
Ace your interviews by applying confident and positive body language with relevant topics that help build effective rapport. You will come out of the interview leaving your contact with the best possible impression for consideration to a job offer.
There’s generally a clear sense of what is expected out of an interview. The employer wants to know how serious you are about this opportunity by your preparedness for the interview and what you can offer to the company through your skills and experience. Now, just let them know you are someone who can work well with the team and you will be on the right path to acing the interview.
Exclusive jobs, projects & data-driven insights to support your career success.
Join your peers & create a free account. Discover roles in under five minutes.