Strategy Consulting
Discover what strategy consulting involves: how consultants advise the leadership of companies and organisations on their most important choices, what they do day to day, the career ladder, and how students prepare for an application.
Introduction
What is strategy consulting?
Strategy consulting is about an organisation's most important choices: where to grow, what to divest, which markets to enter and how to respond to change. Strategy consultants are engaged by the leadership of companies, investors and institutions to work through those questions in a structured, fact-based way.
The work is analytical and hypothesis-driven: a big question is broken down into sub-questions, supported with data and interviews, and reduced to a clear recommendation. Speed, structure and persuasiveness matter just as much as the analysis itself.
Strategy consulting is one of the most sought-after and selective starting points for students. It opens doors to industry, private equity and startups, and is known for a steep learning curve in the first years.
The practice
Three settings where you practise this field
The breakdown below mainly says something about the type of employer and the clients you serve, not about the quality of the work.
At the MBB you work on the most complex, often international strategy questions. Other international firms often combine strategy with a strong sector or functional focus. Dutch and independent firms sit closer to the Dutch market and public sector. In addition, the Big Four have their own strategy units such as Monitor Deloitte and EY-Parthenon.
What they do
What strategy consultants do
The work differs by project, but the building blocks below come up in almost every strategy project.
Types of project
The main types of project
Strategy consulting has a number of recurring project types, even though the sector and client differ greatly.
Sub-areas
The main sub-areas
Strategy consulting is broad, and many consultants specialise over time in a sector or type of question.
Step by step
How a strategy project unfolds
Most strategy projects follow a similar, hypothesis-driven process, from sharply defining the problem to a recommendation and sometimes implementation.
Who does which step depends on seniority. Junior consultants do much of the analysis and slide-building, while senior consultants set the story and bring the client along.
Not every project ends in implementation: sometimes a team only delivers the recommendation, sometimes it also guides the roll-out over a longer period.
Roles
Roles in the strategy practice
Each step up the ladder shifts the emphasis further from analysis toward leading teams and managing the client relationship. Most consultants climb this ladder at the same firm, though moving to industry or private equity is common at any level.
Business Analyst
The entry role straight after a bachelor's or master's.
Consultant / Associate
Independently handles a workstream within a project.
Engagement Manager / Project Leader
Leads a team and the day-to-day running of a project.
Principal / Associate Partner
Carries responsibility for several projects and client relationships.
Partner
Holds ultimate responsibility for clients and the practice.
Career timeline
How long each step takes
Consulting has a relatively fast, structured career path, with many firms having an "up or out" culture: progress or move on over time. The pace differs by firm and individual.
Many consultants stay a few years and then move into industry, private equity or a startup. Those who stay progress toward Engagement Manager and eventually partner.
An MBA or a period abroad is a common step between Consultant and Engagement Manager at some firms, but not a requirement.
| Level | Typical time in role |
|---|---|
| Business Analyst | 2 to 3 years |
| Consultant / Associate | 2 to 4 years |
| Engagement Manager | 2 to 4 years |
| Partner | top level, 10+ years in total |
Compensation
Compensation in strategy consulting
Compensation in strategy consulting usually consists of a fixed salary that rises with seniority, and at many firms a bonus tied to individual and firm performance. Strategy firms are among the best-paying starting points for graduates.
The ranges below are general indications for larger international strategy firms, and do not apply specifically to any particular firm. Actual pay varies by firm, background and year, and is listed where known in the individual vacancies on this site.
From partner level, the nature of compensation changes. A partner typically shares in the firm's profits, which ties pay more closely to their own client portfolio and the results of the firm as a whole.
| Level | Indicative range |
|---|---|
| Business Analyst | €50.000 – €70.000 |
| Consultant / Associate | €70.000 – €110.000 |
| Engagement Manager | €120.000 – €180.000 |
| Partner | €250.000 – €600.000+ |
Ranges are general indications for larger strategy firms, not specific to any particular firm. See the vacancy pages for concrete salary figures where a firm publishes them.
A day in the life
A typical day for a Business Analyst
The day often starts with aligning within the team on progress and priorities. After that, much of the time goes into analyses, building models and working out slides for the next client meeting.
A consultant works in short, intensive projects with clear deadlines. That requires switching quickly, aligning often, and being able to keep working in a structured way under pressure.
On a day with a client presentation, the pace shifts: the team sharpens the story, rehearses the message and presents the interim results to the client's leadership.
Juniors
What Business Analysts do
Junior consultants carry much of the analysis and slide work a strategy project rests on, under the supervision of an Engagement Manager.
- Gathering and cleaning data
- Building models in Excel
- Market and competitor research
- Preparing and writing up interviews
- Building slides
- Summarising analyses for the team
- Joining client meetings
- Taking on sub-questions independently
Much of this work goes back and forth within the team before it goes to the client. That repetition is not inefficiency, it is how a junior consultant learns which insights really matter.
Skills
Skills you will need
Analytical ability gets the most attention in the application, but the consultants who stay longest often stand out through communication: being able to bring a complex story clearly and persuasively.
Getting in
How you get into strategy consulting
Most routes run through a strong university degree, followed by an application with case interviews. The field of study matters less than the analytical and communication ability you show.
Preparation
How to prepare as a student
Preparation works best when it starts well before the application. Firms test not only your analysis, but also whether you can think in a structured way and communicate clearly under pressure.
Compare
Strategy versus other paths
These paths sometimes overlap, which is why students mix them up. The distinction mainly lies in the type of work and the exit options.
Strategy vs Operations Consulting
Operations focuses on improving processes and execution. Strategy focuses on the choices above that: where the organisation should go.
Strategy vs Technology & Digital Consulting
Technology & digital is about designing and building digital solutions. Strategy decides which choices an organisation makes, including on digital.
Strategy vs Financial & Deal Advisory
Deal advisory focuses on the financial side of transactions. Strategy assesses their commercial and strategic attractiveness.
Strategy consulting vs Investment Banking
Investment banking guides transactions and financing. Strategy consulting advises on an organisation's broader strategic choices.
Strategy consulting vs an in-house strategy team
An in-house team works for a single organisation. A strategy firm works for many clients and offers broader exposure in a short time.
Employers
Strategy firms in the Netherlands
A selection of strategy-consulting firms with an office in the Netherlands. We only name firms whose practice is confirmed.
The firm selection is based on the strategy-consulting ranking of consultancy.nl. In addition, the Big Four have their own strategy units such as Monitor Deloitte, EY-Parthenon and Strategy&.
The Big Three (MBB)
Other international strategy firms
Dutch and independent firms
Vacancies
Strategy vacancies
We only show real, current openings with a link to the employer. Internships, traineeships and consultant roles appear here. In the meantime, browse all current vacancies.
View all vacanciesResources
Recommended resources
FAQ
Frequently asked questions
What is strategy consulting?
Strategy consulting is the advisory field around an organisation's most important choices, such as growth, portfolio and transformation, supported by analysis and facts.
What is the MBB?
MBB stands for McKinsey, BCG and Bain, the three most prestigious and selective strategy firms in the world.
What does a strategy consultant do day to day?
Consultants structure problems, run analyses, do market and expert research, build recommendations and present them to the client's leadership.
What degree do I need for strategy consulting?
The exact field of study matters less than strong grades and demonstrable analytical and communication ability. Consultants come from a wide range of backgrounds.
What is a case interview?
A case interview is a conversation in which you solve a business problem in a structured way. It tests how you think, calculate and communicate, not whether you already know the answer.
How much do you earn in strategy consulting?
Strategy firms are among the best-paying starting points for graduates. Actual pay varies by firm and year and is listed where known in the vacancies on this site.
What skills do you need?
Structured thinking, analytical and numerical ability, communication, persuasiveness and the ability to keep working under pressure.
How do I get into this field as a student?
Get strong grades, do a summer internship at a firm, practise case interviews thoroughly and apply via campus or the firm's website.
Related
Related consulting paths
Start your journey in strategy consulting
Browse open vacancies or discover the other consulting paths.