Strategy Consulting over Financial

Strategic consulting is inclined towards analytical thinking, with the primary focus being factual data. This is because without making the proper decisions, a business can crumble. To avoid this, the best way to arrive at the perfect and most effective decision as a business is with the help of analytical thinking and factual data.

Financial consulting, on the other hand, deals majorly with the cash flow of the business. Financial consultants are employed to manage any debts incurred by the company and bring any opportunity to save into the limelight. They also lay out the proper groundwork for selling products and services. Having both these consultants can contribute to the progress of a business. However, for some select few reasons opting for strategic consulting over financial consulting has its perks.

When employed, financial consultants focus only on the monetary aspect of a company and actively find ways to make the company excel in this aspect. However, a strategic consultant researches and studies the majority of business problems present and engineers solutions based on that. Due to its superiority in only one domain under a financial consultant, the company is more likely to serve fewer clients than under a strategy consultant. This is because strategy consultants can help the company to excel in multiple domains. They also discover cost suppressing methods that enable them to alter costs from time to time.

With strategy consulting, there is an option to work for a multinational corporation’s CEO directly. Working with the CEO is feasible because a collaboration to work on the firm’s most resilient and widest issues is inevitable. While financial consultants mostly get to work under the company’s CFO, handling things like mergers and acquisitions. Since strategy consultants solve broader problems in a shorter period, they have more impact on the progress of a company.

Strategy consulting deals with emphasis on clear and concise quick thinking, which is built rather than expertise in a certain area. Due to the nature of problems that they solve, strategy consultants have to thrive at all times.

A lot of financial consultants have a high chance of facing career stagnancy at the beginning of their careers. Most times, financial consultants have to deal with clients' emotional breakdown, which can prove quite difficult at the beginning stages of a career. They are also limited to finance and gain little experience in other domains. Strategy consultants, on the other hand, are less likely to go through incidents of this sort. They also have a wider horizon of work experience, and this acts as a boost for their career.

There is also a clear difference between the salaries of a financial and strategy consultant. In the long run, the salary earnings of a financial consultant turn out to be less than that of a strategy consultant.

Strategy consulting involves working across various industries and various firms in each industry. This prepares any strategy consultant for a broader range of work in strategy and operations and increases your exposure to future prospective employers. This makes an exit from their current company easier than for financial consultants. Working as a financial consultant in a firm only prepares individuals for a similar financial advisory role in another firm. It can cause the career progress of a financial consultant to stall when switching employers or firms.