How to find your ideal exit opportunity from consulting

In the world of management consulting, the phrase “exit opportunity” refers to a new role that consultants pursue as they look to transition from the consulting industry.

Exit opportunities are roles that often allow individuals to utilize the toolkit they developed in consulting in a full-time position in industry. For those who are motivated to leave consulting in pursuit of better work-life balance, these roles are ideal, as they often provide the same level of impact, exposure and challenging problem solving, but with notably less travel and a more sustainable lifestyle.

Consultants can generally find exit opportunities through their network, a past client, online resources or relationships with executive search firms.

In this article, we share our advice for finding an ideal exit opportunity that perfectly aligns with your career goals. But first, how do you know when it’s the right time to leave consulting?

When to leave consulting:

One question we often get is, “If I know I am going to leave consulting, when is the ideal time to do so?”

After placing and tracking the careers of over 1,300 former consultants over the last 20 years, we can share our opinion: You should leave consulting and make the transition to industry as soon as two things are true: 1) You are confident that you do not want to become a partner, and 2) you’ve learned the core elements of the consulting toolkit and your learning curve has begun to flatten out. For many this generally occurs after working in consulting for 2-4 years, either at the pre- or post-MBA level.

Consulting firms offer an appealing career path if you choose to pursue it, but getting there involves rolling up your sleeves and completing the rigorous work associated with the industry. Therefore, once you’ve made the decision not to pursue the partner path and you’ve gained the consulting toolkit, that’s a sign you should begin looking for your exit.

To learn more about the timing behind your consulting exit, read: The second most popular question consultants ask Charles Aris.

How to find the ideal opportunity:

After deciding how to embark on a new career search, it’s imperative that you lay out your goals by asking yourself several questions:

1. What industry do you want to be in? While some candidates we speak with may be seeking opportunities based on their function (strategy, finance, etc.), it is important to know what industry you prefer to work in, as well. Targeting industries that you have experience in or a passion for will increase your chance of landing a great role that you are excited about because you will be playing to your strengths.
2. What title or level of responsibility are you seeking? Come prepared by knowing the title and/or scope of responsibility you’re looking for in new roles; this will often align with the seniority you prefer.
3. What type of organization do you want to work in? Are you excited to join a small organization or a large one? Do you have an interest in exploring the startup world or a private equity-backed company? In what type of culture will you thrive in?
4. What is your desired location? Are you open to relocating, and, if so, do you have a specific city in mind or are firm in staying put? How willing are you to travel?
5. What is your ideal compensation? Make sure you spend some time thinking about what level of compensation you are targeting for your ideal role and where you may have flexibility.
6. What is your timeline? Be upfront with your prospects in terms of when you would ideally like to start in a new role, so that you can ensure alignment on all fronts as you go through your processes.

Download: 2024 Charles Aris Strategy Consulting Compensation Study

Determine who you want to work with/for:

Now that you’ve defined these key parameters to your job search, you must figure out who you want to work for.

If you’re going to lean on the consulting toolkit in future roles, find a team with a deep understanding and appreciation of what that means. Sometimes this can be a former client of yours who has seen your work firsthand, a former colleague or even another former consultant who has been in your shoes and knows what you bring to the table.

In any role, consulting adjacent or not, strive to find a manager who knows how to set you up for success. These individuals will provide the support and development to help you reach your long-term goal or may simply have a history of promoting and building teams.

At the end of the day, people work for people. Finding any opportunity, especially an exit from consulting, should revolve around your future team.

Related: Key differences between large and small strategy teams

The takeaway:

Exit opportunities refer to the roles that consultants pursue to “exit” the world of consulting. The timing of your exit can vary depending on personal goals and timelines, but most consultants depart after gaining 2-4 years of experience or after determining they will not pursue a partner-level position.

To find your ideal opportunity, you should clearly define your short- and long-term goals, pin down the scope of role you want to pursue and take a people-first approach to engaging with any new opportunities.

To learn more about life after consulting, contact Julia Opaleski at (336) 217-9132 or julia.opaleski@charlesaris.com.