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leave a full-time job to take a contracting role at Bain?

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skim milk

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I reached out to a partner at Bain and my resume got passed around and did an interview. Before the interview though, they mentioned that it would be a contracting role. I interviewed very well and told the guy that I am interested in a full-time role with the firm. I wanted to nail the interview first (which I did) so that he can vouch for me internally. He said he talked to a few people but they are unable to promise a full-time opportunity at this time as their recruiting is fairly structured. Basically, it's just a pure contracting role for 10 months getting good money but no benefits and risk of leaving a stable full-time job and not have anything lined up 10 months later. I have been in management consulting for the past three years but now I am looking for something local outside of consulting, but interested in what you guys think.
 
Bain & Co., the strategy consultants, or Bain Capital, the PE firm? Either would be a pretty prestigious gig.

Depends on your age. If you are young with no family, it seems like a good opportunity. If you gave me this job now I would jump at it.
 
Would you be a consultant or in some kind of staff role? Also, what firm are you with now? It's worth comparing the risk vs the resume stamp.
 
Normally i would say NEVER leave a stable job with benefits for an unknown like a contracting position with no benefits... but.. since it's you..

GO FOR IT.
 
I bolded the important phrase.

skim milk said:
Basically, it's just a pure contracting role for 10 months getting good money but no benefits and risk of leaving a stable full-time job and not have anything lined up 10 months later.
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Do you have a family - wife and kids?

With me, health insurance is one of the most important issues on the table. One good trip to the emergency room will clean out whatever extra money your making at the job.

In August of 2010 I fell sick to some kind of infection and spent 3 1/2 days in the hospital. Grand total was somewhere around $13,000 "just" for the hospital bill, not counting all of the lab work and ER doctors bill.

Sickness or injury can strike at anytime, make sure your covered.
 
sjwaste said:
Would you be a consultant or in some kind of staff role? Also, what firm are you with now? It's worth comparing the risk vs the resume stamp.
Click to expand...

It's a consultant role. They are basically just bringing me on for one project that is going on for the next ten months. Bain is certainly an upgrade over my current firm (and want to keep my current firm's name private). I am looking to get out of the consulting industry though so I am not sure how much value it would have on my resume but it is worth considering.
 
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skim milk said:
It's a consultant role. They are basically just bringing me on for one project that is going on for the next ten months. Bain is certainly an upgrade over my current firm (and want to keep my current firm's name private). I am looking to get out of the consulting industry though so I am not sure how much value it would have on my resume but it is worth considering.
Click to expand...

I think I remember where you worked, since I think we discussed it over PM once before.

Bain is an upgrade over where you are now, for sure. However, they are bringing you on for 10 months with no guarantee that you'll continue on. You need to ask them more questions - will you be a W2 employee? If not, it's hard to say that you were a Bain consultant and not a subcontracted 1099 for a specific project. You need to make sure you're considered an employee.

If so, this could be a good transition for you out of consulting, with some huge factors to consider.

1. You need to assess your local job market and figure out if you can actually line something up in 10 months. If you cannot, you need to really think hard about this. Your own risk tolerance factors in heavily.

2. Have you developed a focus, either on a capability delivery, or an industry, as a consultant? How good is it? The Bain stamp on your resume is a good one, but interviewers are going to want you to tie that Bain training and experience to what you'll bring them. If you are currently industry-focused, you might want to get an idea from former clients of your employability. Firm policies may prevent you from doing this, so don't do this without checking that out first. Don't get yourself fired! But if you built some good working relationships, you know who you can call and ask to be honest with you.

3. How do you feel as a second class citizen? Your Bain colleagues will be associates. You are a contractor. Will that be a problem for you? I happen to know that my ego would not prefer that arrangement.

4. What do you want to do after consulting, and are these next 10 months going to contribute to that?

5. What's Plan B? Say you take this project and it sucks. Will your current or another similar firm take you back? This relates to market conditions and your skills and relationships.

6. Do you have a safety net? Savings, parents, friends, whatever that you can live with if this thing all blows up?

If I recall, you're fairly young, maybe mid-20's. Probably a mid-level consultant (not a manager). You still have flexibility, but now is the time that you start to think about your focus - either an industry or a capability. You will, and I speak from experience, stunt your professional growth if you're just going to Bain to get the name on your resume; however, if Bain is offering a resume stamp and relevant project work, I would at least be considering it.

Hope this helps. I know the typical consulting career model, have successfully exited it, but also know what I would have done differently, so hopefully my opinion is at least relevant.
 
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