Question: Are professionals in the financial modeling industry more successful as a consultant with their own firm, or do they find more success in a bigger firm?
Answer: Typically, professionals find more success in a bigger firm initially because that is your opportunity to work on a diverse range of interesting projects of varying complexity. It is also best that you cut your teeth at someone else’s expense, learn from experienced peers and make your mistakes on someone else’s watch so you can be mentored and corrected.
Once you have worked on multiple projects, you could strike out on your own, provided you have made a name for yourself in the industry and have a lot of contacts. Getting new, big budget projects is easy if you are a well-established firm like McKinsey or Goldman Sachs, but rather difficult if you are an independent consultant, until you establish yourself very well. Thereafter, as in many instances, you could go independent and grow a boutique practice into a highly profitable company.
Do You Want to Complete A Financial Modeling Training Course? If you are looking to learn more about completing a financial modeling training program, you should check out our self-paced financial modeling training program on the BusinessTraining.com platform, which is called the Financial Modeling Specialist (FMS).