Consulting is more than just giving advice

Consulting encompasses a wide range of expertise—from management and tech, to finance and PR

At their core, consultants—whether independent or part of firms—help organizations solve problems, refine processes, and achieve goals.

Some argue that America is too dependent on consulting

Many major companies in America—not to mention the federal government—spend thousands of dollars a month paying to contract major consulting firms.

A lot of what consultants do all day is intentionally kept a secret

Consulting firms also often keep their clients private to maximize the sectors they’re able to secure contracts for and avoid any perceived conflicts of interest.

An inside look at what it's like to be a consultant

This video explains the basics of consulting, as well as what it's actually like to be a consultant—from the lifestyle and hours to compensation.

Governments are arguably very dependent on consulting firms like McKinsey and Deloitte

This podcast episode discusses the consultancy industry’s rise and how these firms make billions of dollars, even amid significant scandals.

'The Firm' is a book about the influence of top consulting firm McKinsey

The author argues that consulting firms are so valuable to the companies that hire them because the clients don’t have to take the blame for any changes the consulting firm decides to make within the organization.

Many of the projects major consulting firms work on are kept secret, some firms provide a few examples of real-world client work

A list of client work examples from McKinsey includes a case study on how the firm helped Starbucks design more inclusive stores, and many more.

Modern consulting traces its roots to 1886

Arthur D. Little Inc. was the first management consulting firm. Starting as a chemical analysis lab, the firm evolved to play pivotal roles in projects like developing the NASDAQ system and supporting Apollo 11.

The 'Big Three' and 'Big Four' consulting firms have grown more similar in recent years

The “Big Three” consulting firms—McKinsey & Company, Boston Consulting Group, and Bain & Company—and the “Big Four”—Deloitte, PricewaterhouseCoopers (PwC), KPMG, and EY—actually have a lot in common these days. But it wasn’t always that way.

Management consultants deal with solving complex business challenges

Specifically, according to an article from careers site The Muse, a management consultant can be loosely defined as someone who is “a problem solver for some of the more complex business and org structures out there.”

In 2018, roughly 13% of Yale University graduates became consultants

Consulting is a popular career path for today’s top college students. A student newspaper article dives into a Yale University student’s brief love affair with the consulting industry, starting with a depiction of the interview process.

Consulting firms are known for their relatively high starting salaries

The “Big Three” and the “Big Four” consulting firms especially are known for high pay. Top firms often offer entry-level salaries well over $100K per year.

The 'Big Four' consulting firms specialize in accounting

The "Big Four" refers to Deloitte, PwC (also known as PricewaterhouseCoopers), KPMG, and EY. They more recently built out their business consulting practices in addition to accounting services.

A Yale student wrote a critical essay about the consulting industry's influence on college students

Marina Keegan was a recent Yale graduate set to start her career writing for The New Yorker when she died in a car accident. But before her death, she wrote an essay criticizing the consulting industry's impact on not only her classmates' lives but also their ability to impact the world at large.

The Big Three consulting firms are McKinsey & Company, Boston Consulting Group, and Bain & Company

Some also refer to this group as “MBB.” As a nearly century-old company that’s well known for its prestige, McKinsey has some famous alumni—including Chelsea Clinton and Sheryl Sandberg. The other two consulting firms in the Big Three have employed some famous faces over the years, too.

The global consulting industry was worth roughly $710B in 2023

From 2017 to 2021, the consulting firm McKinsey took in $77M in consulting contracts with just the US Food and Drug Administration alone.

In 2018, roughly one-third of Yale graduates went into either finance or consulting

Every year, top consulting firms head to career fairs at Ivy League universities like Yale across the country. They end up recruiting a significant population of the student body by graduation.

Listen to why Ray Dalio seeks out disagreement

One of Ray Dalio's principles is to constantly be challenged by smart people. He says thoughtful disagreement is key to becoming smarter and making better, more thorough decisions.

David Ogilvy—one of history's most famous and influential advertising executives—wrote multiple books, including 'Ogilvy on Advertising,' a career memoir full of his favorite copywriting advice.

A guide to emotionally preparing to found a company

Founding a company comes with more than just logistical challenges—it's a daunting emotional task, too. In this article, a psychologist breaks down how first-time founders can prepare for the mental pressure of starting a company.

Private equity firms can be 'powerful partners' or 'formidable competitors'

Under the best circumstances, PE firms can increase a company's value using strategies that might not be suitable for public companies facing pressure for immediate shareholder returns. But PE firms are often portrayed negatively due to the aggressive strategies they sometimes use to cut inefficiencies. As PE has grown, many firms have changed their strategies, shifting away from aggressive scaling to more integrated acquisitions.

Generate a powerpoint filled with 'consulting slop' for your business

Created by the consulting company NOBL, this AI generator mimics and mocks the vague and impersonal presentations sometimes shared by consulting firms.

The do's and don'ts of using AI to manage your finances

Experts suggest avoiding asking AI for investment advice, but say it's useful for basic budgeting help. Read this article to learn more.

Smart tips for making the most of your 401(k)

There’s a lot of advice about handling a 401(k), but it can be mired in disclaimers and legalese. Come prepared to your financial advisor or accountant by watching this informative take on how to properly use a 401(k), from consolidating plans to some of the most common errors.

Finding meaning in work matters, but can also happen outside your job

It's a perennial discussion: How do I find meaning in my work? Visionaries attest to the value of aligning your passions with your paycheck, but it isn't always possible. This podcast weighs the pros and cons of such a pursuit.

Harvard Business School adapted its law school's ‘case method’ in MBA classes

Many MBA programs include classes structured around the “case method” rather than traditional lectures. In classes using the case method, students solve real-world business problems without being given the answers ahead of time, rather than listening to a lecture and taking notes.

Working at a startup isn't for everyone, and is often more fast-paced than a run-of-the-mill job

Some argue that ideal startup employees have to be better than the average worker at managing uncertainty, acting with an "ownership" mindset rather than being a cog in the machine, and pushing limits.

Find out how venture capitalists make decisions

More than 30% of venture capital deals come from leads courtesy of a VC’s former colleagues or professional network. You can learn more about how venture capitalists decide which companies to invest in by reading this article.

The dot-com stock bubble taught Howard Marks about markets

Annual investment letters from Howard Marks, the billionaire cofounder of top distressed debt shop Oaktree Capital Management, are required reading on Wall Street. The prolific writer and investor explains the distinction between the folly of trying to time the market and the necessity of paying attention to market cycles. The difference makes all the difference in returns.

62% of independent workers said they would prefer permanent or non-contract work

In the consulting firm McKinsey's 2022 "American Opportunity Survey," 36% of employed respondents (about 58 million Americans) classified themselves as "independent workers." But they're not all thrilled about their current professional status.

Many investment bankers work on mergers and acquisitions

At some point in their careers, many investment bankers work on facilitating or advising clients on mergers or acquisitions. From analyzing industry group trends to deal negotiations, an M&A in investment banking explainer outlines how investment bankers handle these business transactions.

How to resolve conflict with words, from speaking coach Jefferson Fisher

Fisher claims arguments shouldn't be won but rather unraveled. He gives numerous tips on how to approach arguments like a tested lawyer. In this "Diary of a CEO" podcast episode, host Steven Bartlett gleans incredible insights on how to spot a liar, how to resolve arguments, and more.

Learn more about Ray Dalio's formula for progress

Across interviews and in his books, Dalio often emphasizes the importance of learning as much as possible to avoid making bad decisions. However, Dalio also often speaks about failure being a great teacher. One of his core principles is "Pain + Reflection \= Progress."

A former recruiter's 10 rules for salary negotiation start with one piece of advice: never give your number first.

The pedigree of one’s MBA program matters a lot to elite employers

One expert even said that having an MBA from a prestigious school is “non-negotiable” for certain employers, such as elite management consulting, investment banking, and private equity.

Listen to BlackRock's head of behavioral finance, Emily Haisley, explain the psychology of investing—including controlling biases, managing ego, and being prepared for volatility.

Doctors report wanting more time to plan, provide care for patients

Many physicians experience aspects of burnout, and concierge medicine provides a slower, more relational approach to medicine, including consistent follow-up care for a smaller pool of patients. A concierge medicine clinician may talk with each patient frequently, perhaps every few weeks, instead of just once a year.

The culture Ray Dalio created at Bridgewater Associates is often criticized

Despite large returns, former employees report meticulous logs of mistakes, intense public questioning of junior-level staffers, recordings of all meetings being made available to all employees, and highly confrontational meetings—many of which are attributed to the book of more than 100 principles Dalio gives each employee. (Some users may experience a paywall)

See the anatomy of a venture capital firm

Venture capital firms get the money they use to invest in companies from limited partners, also called LPs. It’s the general partner’s job to manage that money and invest it in the right startups.

Workplace overload has spawned the industry of 'burnout coaches'

Chronic stress and burnout aren't just leading to mental-health crises. They're also the foundation of a new career type: burnout coach. These aren't necessarily licensed therapists, but often people who have been through the burnout cycle and received certification as coaches. (Some users may experience a paywall.)

Primary care doctors are converting into membership-based concierge practices

Subscription-based practices sometimes don't accept insurance and they also require annual membership fees which can add up to thousands of dollars per year. In return, patients are promised more personalized care and round-the-clock access to medical providers. As doctors transition to concierge care, this retainer-based medicine model is forcing people to choose between searching for new primary care providers or paying hefty fees.

Ranking life's biggest decisions

Psychological research presents some unsurprising wisdom about how to make big decisions without regret: focus on people, don’t miss opportunities, and stay true to yourself.

Learn how to build a retail investing toolkit

Retail investors may not have the same resources institutional players do, but thanks to the internet, they can access several free tools that provide a leg up. These tools do everything from recommending portfolio allocations to helping investors screen stocks.

Just because a big name company is going public doesn’t guarantee a successful stock

A reporter dove into how highly anticipated IPOs can still be risky, and why retail investors should be wary of investing right away.

Genetic tests aren't always actionable, which is one reason genetic counselors are so vital

This podcast interview with a Harvard Medical School professor focused on cancer genetics and prevention discusses the specifics of genetic testing and insights and the challenges of processing the outcomes of the testing and what may be actionable—or not.

Addressing psychological barriers to building wealth

Almost half of adults in the US report owning no investable assets. For many, the barrier to entry is the belief that investing is too complex for them to get involved. Consulting with a financial psychologist, this article addresses the cognitive bias that causes so many people to miss out on financial opportunities, and offers tips on how to get past the anxieties and just begin.

Palantir's services allow both companies and the government to analyze complex data

There's a common misconception that Palantir buys, sells, and shares data, but Palantir insists it isn't a data broker. Rather, Palantir is more like a data analytics company that allows corporations and government agencies to combine messy, large, and often hard to access datasets to gather insights.

Listen to Ray Dalio break down his most valuable principles in life and work

Dalio's now-famous principles started out as a collection of rules the finance behemoth set for himself. Since then, the list has expanded, becoming required reading for all Bridgewater Associates employees. In 2017, Dalio published an expanded version of these rules called "Principles: Life & Work," which has sold more than 5 million copies worldwide.

The best predictor of success.

Leaving a high-flying job in consulting, Angela Lee Duckworth took a job teaching math to seventh graders in a New York public school. She quickly realized that IQ wasn’t the only thing separating successful students from those who struggled. Here, she explains her theory of “grit."

Meet the investor running his life with AI

Daniel Ha is a venture capitalist who built a suite of AI agents to boost his productivity, both professionally and personally. At his VC firm, a troupe of agents gathers data on startups and analyzes it from competing perspectives to produce a confidence score. When his dad was diagnosed with cancer, Ha used an oncology-trained AI to help him understand the condition.