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The actual world of super-high paid consultant would be interesting to hear about. This is either a niche-within-a-niche or a scam, depending on whether you bel
by joe_the_user 7y ago
The actual world of super-high paid consultant would be interesting to hear about. This is either a niche-within-a-niche or a scam, depending on whether you believe the page.
The thing is, maybe there are circumstances when someone who's just quite well informed about an otherwise boring industry can get an "information download" gig as described but I'd also guess those are very occasional - only so many investors need those so often. I suspect most super high paid consultant gigs are even more boring - just super well dressed, super connected, super confident, speaking the language of the ultra rich and describing pretty dull and predictable things, mostly management/investment techniques but communicating the right way to the right people and having some level of connection to them. An alternative is a similar someone except a someone who will to tell the super-rich they're wrong and having enough prestige themselves so these rich don't feel like they've been insulted too badly.
- deleted 7y ago[deleted]
- randogogogo 7y agoWe do similar or related work at the firm I'm in quite frequently. Mostly we have people that understand Mergers and Acquisitions really well, sets of people that understand industries really well, and people that know technology really well (IT operations, business process and applications, infrastructure, app architecture, etc.). These groups of people put together along with methodologies for quick turn-around on analysis afford us higher rates. There's also an element of these types of engagements where clients almost seem to expect higher rates and expense fees; otherwise we may give the perception of a less than serious service provider while involved with high dollar transactions.
- josephjrobison 7y ago“Information download” is a genius term. In the right industry a company can save years of failure by paying the right person for X amount of hours to glean a ton of knowledge very quickly, assuming they can’t just outright hire them.
- HenryKissinger 7y agoWhat does it take to become this kind of person in less than 10 years?
- WillPontificate 7y agoThat's kind of the barrier to entry, no?
- WillPontificate 7y agoMathematically this probably could never be justified as a permanent hire. Not enough steady demand.
- ifoundthetao 7y agoIt can be justified in the context of hiring that person keeps that knowledge resource from competitors. Then it makes a lot of sense to pay them enough to stay, as it allows you to outpace competition in the marketplace.
- x0x0 7y agoOne of my cofounders has been the consultant a few times. Someone reached out on linkedin and didn't care what it cost. They were considering an acquisition of a competitor of one of his former employers, and wanted an insider's view on things. We've used them once or twice. We needed guidance on major strategic initiatives. If you're paying $1-2m in payroll to make something, spending a couple thousand talking to senior execs in neighboring businesses is a really good use of money. Think of it like Gartner, just way cheaper :)