Why Big3 alumni lead Fortune 500 legacy companies, not tech companies, and earn 10-100x less than tech CEOs?
First, after the dot-com bubble tech job was taboo for Big 3 alumni. The consultancy business model is based on the firm brand reputation, so hard workers are selected and taught to avoid anything risky for the firm brand. The dot-com crash scandals of tech investors and founders committing suicide were a no go for risk-averse big 3 alumni.
Second, tech companies' agile culture leaves little space for the value of external consultants. Thus big3 advise mostly legacy clients in the US.
Third, structuring and hardworking is not enough. Tech needs creativity and making working products, rather than rock-solid, world proved and well-explained advice.
In the US in 2000x the emergence of private equity and later hedge funds stripped talent from consultancy. In 2010th startups eclipsed hedge funds as the top talent destination. Over the last decade, top startup CEOs earned 10x to top hedge funds CEOs.
of legacies like consumer retail offline or banks.
In Russia stagnating capital markets and flee of capital markets firms to London left Big3 as the mainstream destination for top talent. Big3 strive to maintain standards by rotating consultants btw international offices, however, culture adapts to the local market. The last scandal on the restrictions on the firm teammates' political rights is a good example.
The shrinking private market and growing state business mean a growing pressure for politically-driven culture and slides.
The strong HR brand still means inflow of talent density to be educated pretty the same and the same basic operations or state strategic slides disconnected with the future market needs. This means the less future value of such experience on the job market. I bet most of the product managers in HH or Yandex, are growing their future value relatively faster (while standards are more volatile in this professional segment).
Some champions dare to get into the new tech rocket ships - they will build the future.
Thoughts?
PS. Btw Harvard, Yale invested in digital gold BTC. Crypto is not a taboo anymore like porn driven internet was. Blockchain startups will worth $50+ trillion as they cut the cost of political systems to enforce property rights. Property rights coupled with market competition are fundamental for modern incentive structure and the reason for economic growth.
Do not listen to your risk averse friends advising state legacy. Be openminded. Think big. You were born to change the world, not to meet the expectations of parents or friends. Get into a rocket.
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