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0 pointszffr2y ago0 comments

Can you make FAANG level money doing consulting?

0 comments

10 comments · 5 top-level

gabereiser2y ago· 5 in thread

Double, triple, even quadruple

As general advice this is exagerated. You can match it yes, but quadrupling you need to be bringing something very special to the table.

Unless you mean the arbitrage of doing this from different countries with more favourable tax/COL?

gabereiser2y ago

Of course it is. Everyone’s mileage will vary. Not everyone is cut out to be CEO of a consulting firm. As a solo consultant, you’ll be hard pressed to charge more than they could get a FTE. As a firm, well, Deloitte, Cognizant, Pearsons, Booz Allen, all started as a consultancy or professional services spin off.

If you’re wondering how to be a consultant, you won’t get FAANG money. If you know how to be a consultant, it’s a matter of finding the right clientele and/or hiring a sales rep for their clientele.

1 more reply

gloryjulio2y ago

Any guides on how to make multi millions per year as consultant?

eddtests2y ago

That's the realm of extreme skill, luck, and timing. There is no way there's a cookie-cutter solution to that and if people say there is I suggest they're no different to Tai Lopez etc...

Two solutions I have seen (thanks to the news):

1. Be being a world-class academic on a hot ML topic consulting to a huge tech company at a strategic level

2. Be the prime minister of a G8 country and consult for global investment firms

If you're a software engineer or even engineering leader at a startup/SME you're not going to find these contracts unless you're in the 0.001% of the market for a niche skill that's desperately in need.

1 more reply

gabereiser2y ago

Start a consultancy, start making money. There’s no hard guide. No playbook on how to succeed for you personally. It’s a business, just like any other. Treat it as a business. Not a job. Build it up. Network. Showcase. Charge slightly less than you would have. Hire more people to assist in the work. Compound your time. Compound your money.

2 more replies

everdrive2y ago

Yes, and what you'll find is that the output of your work product will become magically disconnected from your pay. Management will love your ideas because they came from a consultant. Ideas which come from within the business cannot be trusted, but consultants are expensive, and therefore they are both intelligent and also correct.

iteria2y ago

Absolutely. It's just about getting into a firm that isn't doing staff augmentation and is building out things for companies. While you will be paid well, it's worth noting that the code will be shit. Worse than code sometimes. That's why the company is outsourcing. I once spent six months just cataloging all the repositories and dependencies a company had. They needed to move to the cloud but they literally had no idea what code they had. Everything worked and so they just never touched it.

eddtests2y ago

Depends on the ‘consulting’ - are you giving strategic advice to the CTO’s office at a multinational? You could be making millions! Are you augmenting an SME’s team as an IC? You can make a little more than an employee after accounting for all the things you have to pay for that tend to be included as an employee.

You tend to need some really awesome work experience to get the former while the latter is fairly easy to walk into.

malermeister2y ago

Easily, especially if you have a good resume.

j / k navigate · click thread line to collapse

0 comments

10 comments · 5 top-level

gabereiser2y ago· 5 in thread

Double, triple, even quadruple

DoingIsLearning2y ago

As general advice this is exagerated. You can match it yes, but quadrupling you need to be bringing something very special to the table.

Unless you mean the arbitrage of doing this from different countries with more favourable tax/COL?

gabereiser2y ago

1 more reply

gloryjulio2y ago

Any guides on how to make multi millions per year as consultant?

eddtests2y ago

That's the realm of extreme skill, luck, and timing. There is no way there's a cookie-cutter solution to that and if people say there is I suggest they're no different to Tai Lopez etc...

Two solutions I have seen (thanks to the news):

1. Be being a world-class academic on a hot ML topic consulting to a huge tech company at a strategic level

2. Be the prime minister of a G8 country and consult for global investment firms

1 more reply

gabereiser2y ago

2 more replies

everdrive2y ago

iteria2y ago

eddtests2y ago

You tend to need some really awesome work experience to get the former while the latter is fairly easy to walk into.

malermeister2y ago

Easily, especially if you have a good resume.

j / k navigate · click thread line to collapse