I've spent the last 3 years working in the FS Business transformation practice at one of the Big 4, and have decided that this isn't something I want to do long term. I find that the projects tend to drag on (6-12 months+), and want to try something faster paced and more stimulating.I have spoken to a couple of boutique growth/innovation strategy firms (i.e. ?What If!, Edengene, Inzenka, Market Gravity). Whilst the work and projects sound exciting, I was wondering if anyone has any experience of what it is like to work in these firms and what exit options are available in 4-5 years time?- What sort of positions would I be able move into within large corporate companies? - If I wanted to move back to a larger consultancy, how hard would this be and what practice areas could I move into? (not sure if the Big 4 have these sort of specialist divisions)Many thanks for your time and appreciate any advice.

anyone?

Big 4 don't do the kind of work you'll do at these firms. They are closer to a mix of strategy consulting and creative agency than they are consulting firms like Big 4, so you need to view them in that perspective. What you will get from the start is a deep dip experience into how businesses actually make money, how to design business models which work etc from a nuts and bolts bit upwards. They all, I think, take a outward-in approach, identifying new customers/revenues then looking how to get a business there, rather than the more incremental inside-out stuff.Exit options in 4 - 5 years? Some large corporates are taking this very seriously and hiring senior innovations leaders, and the cross overs can be compellingly interesting. FS is actually a prime area for this kind of work, as you'll already know. Going back to Big 4 wont really be an option - by then you'll be a different animal and wont want it anyway, but there wouldnt be a fit either side. You would more likely move into a marketing tagged role in industry (but with a harder commercial edge).The affiliate/contractor market around this firms is also very strong and very close knit - everyone knows everyone in the UK innovations market, and everyone knows everyone's business.

Thanks Mars - comprehensive and insightful answer as always! It seems like this is an 'all in' approach with regards to leaving the Big 4, will need to do a little bit more thinking but I think I will go for it.Just one last question - do any of the large strategy consultancies value this sort of experience? (I suppose the other thing I haven't thought about is starting my own business...)

Very interesting thread and I'm in a somewhat similar situation (although a year behind you)Mars, what you've written paints a very good picture of these kinds of firms - is there a catch? Are they particularly difficult to get into? Is it too "cliquey"? Is the pay below par?

Pay is certainly comparable to Big 4, usually better. The market for this is cliquey certainly, but individual firms arent. What you would find is that the 4 you mention, effectively the leaders in this area and really the originators, are all actually very distinctive and each known for a particular 'flavour' of work. You cant confuse a WhatIf project with an Inzenka project. So until you know your way around, a clear hire for Market Gravity would probabluy not fit with Whatif etc. Dont discount KAE, still doing good stuff around this space too.One this though - once you have been to one of these firms, you probably wont want to return to mainstream consulting anyway. They are very execution focused, very nailed on to the concept of tying idea/strategy straight to revenue. And once you realise you are getting FTSE100s to invest properly big money and they are your ideas, it can be seductive. The issue - the big issue - is saturation even with only 5 or 6 main firms in the space, although Whatif and Inzenka both have international presence. The options for contracting are also very lucrative once you are established.A left field option, but infinitely more interesting than the usual merry-go-round of Big 4 moves before completing 3 of the 4 and wanting out altogether.

Great information there - that's given me something to research over the xmas break! Is that all general information you've picked up "along the way" or have you worked with these firms quite a bit?

The latter.

hello marsday, You have provided very compelling reasons to consider Innovation consulting. I'm currently second year MBB and considering a career change. I have first rounds at Edengene, Inzenka, and Market Gravity coming up. Could you provide any further information about the relative differences between the three companies and where you prefer to be in terms of career expectations/projects(more execution than power point deck)/staff quality etc. Many thanks in advance

[quote]hello marsday, You have provided very compelling reasons to consider Innovation consulting. I'm currently second year MBB and considering a career change. I have first rounds at Edengene, Inzenka, and Market Gravity coming up. Could you provide any further information about the relative differences between the three companies and where you prefer to be in terms of career expectations/projects(more execution than power point deck)/staff quality etc. Many thanks in advance[/quote]They are all very execution focused, and the quality of the people much the same across these three firms. Trying to distinguish Inzenka, MG and Edengene would be like sitting here talking about the distinct differences between MBB or Big 4. There are subtle differences if you like - Inzenka is the most classically 'consulting' by culture, MG probably more consulting/creative agency in style, but that's really splitting hairs. Edengene is where this all began and they have had a turbulent time but I guess more settled again now. You could also look at KAE if this type of firm is your preference, and !WhatIf? KAE would be more consulting still than Inzenka, Whatif more agency. All do similar work, with a greater or lesser emphasis on ideation (generating viable ideas) through to execution and go live in the market.

Thank you Marsday. I understand from previous posts that you have worked/are working at one of these firms. Please could you provide approximate compensation structures (i.e. base + expected bonus) at a typical Consultant, Engagement Manager, Principal and Director role at these firms?I'd also be curious to hear your thoughts on the exit opportunities (apart from consultancy work within the industry). Is this a good route to entrepreneurship? Do innovation consultancy clients hire into their strategy/innovations teams e.g. the Fintech area...retail banks innovation teams etc?Thanks again in advance

[quote]Thank you Marsday. I understand from previous posts that you have worked/are working at one of these firms. Please could you provide approximate compensation structures (i.e. base + expected bonus) at a typical Consultant, Engagement Manager, Principal and Director role at these firms?I'd also be curious to hear your thoughts on the exit opportunities (apart from consultancy work within the industry). Is this a good route to entrepreneurship? Do innovation consultancy clients hire into their strategy/innovations teams e.g. the Fintech area...retail banks innovation teams etc?Thanks again in advance [/quote]I'm a HH. I've recruited for this type of firm previously. The firms are boutiques - there wont be much structure beyond what is absolutely essential, and I cant speak for their current remuneration but anywhere from 50 - 100K would be in the ball park for base, depending on level, with bonus typically above the sector at 30 - 40% typical.As for exit options - it would take you 5 mins of research to find out what these are. Moving into in-house innovation teams (or more accurately growth strategy or corp dev) is usual. Areas like payments for example would be an obvious destination - in fact FS as a whole, as the industry struggles to regain customer trust and needs to identify both new products and also new engagement models to win and retain customers. The banks are under threat - not from other banks but from alternatives outside the mainstream. MG and Edengene both blog - I suggest reading some of those posts. Inzenka dont do that, not really in their culture.