Working Hours
Most consultants work 50 to 80 hours per week. Studies have confirmed the long working hours of consultants across the globe. The typical consultant work week averages 56.6 hours. About a quarter of single consultants work 60 to 70 hours per week. Six percent average 70 to 80 hours per week.
Joining a consulting firm builds a valuable network that likely spans cities, companies, and levels. It is one of the best reasons to become a consultant.
The Demanding Lifestyle
The typical day of a consultant is demanding. Activities may include presentations, data review, events, and travel.
Stress is a downside of consulting life. It can lead to negative personal and health consequences. Consultants work 50-60 hour weeks, while normal workers put in 40 hours.
While Monday to Thursday is usually quite intense, Friday tends to be a bit more relaxed. Your work-life balance depends on your team, the projects you choose, and your expectations.
On the other hand, millennial management consultants tend to work as little as 50 hours a week. The average length of time a consultant works at a major firm is 2 to 4 years, and consultancies have implemented policies that allow consultants to take time off to relax and recharge.
Consulting is not a 9-5 job, and it often requires travel, which can lead to working odd hours. How many hours consultants work each week depends on the company, the customer’s needs, and the contract length. The type of project also affects the number of hours; on average, shorter projects require more hours.
Industry Variations
The hours worked in consulting are significantly influenced by a few factors:
- The firm you work for
- The type of project you are on
- The industry
Boutique firms tend to have better working conditions, with only 67% of consultants working beyond their contractual hours.
Knowing how to calculate the hourly rate for consulting is important. Most consultancies expect you to bill 70-95% of your 40 hours per week. You will be judged, evaluated, and perhaps even compensated based on your utilization goals.
McKinsey, Boston Consulting Group, and Bain are known as the "MBB" and represent the top of management consulting. What you learn at a management consulting firm will often be from your colleagues.