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Choosing which consulting firm to work at is one of the most important decisions in your consulting career, however, it’s not the only one. Deciding whether to be a specialist or a generalist is also a major choice to make, so it’s one you’ll want to put a lot of thought into beforehand. Here are some tips for deciding which direction to go.
An Overview of Generalist Consulting
Generalist consultants rotate across industries and functions: retail one quarter, healthcare the next, public sector after that, depending on staffing needs and available projects. The constant in this type of work is the consulting skill set you’ll have, not the subject matter you’ll apply them to. This approach will give you the opportunity to work in any business situation and give an in-depth analysis regardless of the business area.
The upside to this version of consulting is that you will develop a wide range of knowledge. You will learn how to adapt and build skills that are relevant in almost any industry. This path will set you up to be a very versatile consultant with the ability to provide quality work in many different contexts.
An Overview of Specialist Consulting
Specialist consultants, as the name implies, dive deep into one area of consulting. You will develop expertise in that specialty, unlike generalist roles that focus on developing transferable problem-solving skills.
A benefit of specialization is credibility. Within your specific area, you develop a strong point of view faster than a generalist would. Clients may view you differently since you are walking in with knowledge about the industry’s landscape instead of needing to learn it once you get there.
There are two different types of specialist consulting: industry specialization and functional specialization. Industry specialization focuses on developing the expertise in one sector, such as healthcare or financial services. In this role you will learn the major players of the industry and how the current landscape was formed. With functional specialization, your expertise will be geared towards a specific capability, such as pricing strategy or data analytics. You’ll focus on clients that need a specific type of work done, rather than clients in a particular industry. The Vault Consulting Rankings include practice area rankings, so take a look at the different functional areas available. Both paths are a specialist career, but the roles look a bit different.
How to Choose
How you determine which direction is best for you is by analyzing your interests. Is there a particular industry you’ve been drawn to? Are you the type of person to pursue a single subject and learn everything you can? Do you enjoy having a lot of knowledge about one specific thing and being able to talk about it for hours? If this sounds like you, then specialist consulting could be the best place for you. On the other hand, if you’d prefer variety in your career, becoming a generalist may be the best idea for you. This is for the type of person who likes to be valuable in any situation.
It's also important to remember that the path you choose doesn’t have to be permanent. Many consultants start as a generalist and develop an interest for an industry or function through the projects they work on. Over a few years, they transition into a specialist role.
This decision requires you to look at yourself and determine what is the right fit for you and your interests. Choose the path that excites you and will lead you to more career satisfaction, which is a big factor of your career success at the end of the day.
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