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    Home»Money»The Secret to Success at Consulting Firms: Sponsors
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    The Secret to Success at Consulting Firms: Sponsors

    Press RoomBy Press RoomJanuary 19, 2025No Comments3 Mins Read
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    • Consultants told BI that finding a “sponsor” is the key to career advancement at top firms.
    • Sponsors offer seniority and influence to help employees succeed.
    • Consultants say mentorship is insufficient and that sponsors are key for promotions.

    Climbing the ranks at a top-tier consulting firm is often harder than landing the job itself.

    Several current and former consultants told Business Insider that having the right sponsor — an executive who champions their success — is crucial early on.

    McKinsey & Company defines sponsors as high-ranking employees who “offer seniority, power, and influence to help you meet your goals.” They differ from formally assigned mentors, who assist with annual reviews, guidance, and emotional support. Instead, sponsor relationships are formed through more organic connections with employees.

    “99% of it is unofficial, and it’s about finding people that you want to help basically,” said Matthew Fitzpatrick, a senior partner at McKinsey and global leader of the firm’s AI division, QuantumBlack Labs. Fitzpatrick has sponsored hundreds of employees during his 12-year tenure at the firm and said it’s “probably the most fun part of my job.”

    His advice to younger employees is to seek sponsors who share their interests.

    “All good mentor and sponsorship relationships are built around really shared interests and passions for things,” he said. “I think the relationships I formed over the last decade were people that were really interested in the same things I am.”

    Former McKinsey consultants say advancing at the firm is tough without a sponsor. “Sponsors are extremely important, especially if you are looking for your next promotion,” an associate who left last April told Business Insider by text. “They can certainly make your career if you have strong sponsors and a lack of a strong sponsor makes it difficult to survive.”

    Many consultants work on a project-to-project basis, and sponsors can also help new hires secure projects that build their reputation within the firm.

    “My first six to seven months when I was a brand new analyst at Accenture, it was just really tough to get onto high-quality projects, and I felt totally lost, even though I was assigned a career counselor,” a former Accenture consultant, who requested anonymity to avoid jeopardizing career prospects, said.

    She had a breakthrough when a senior consultant at the firm recognized her potential and put her on his next project, which offered the kind of visibility she needed to advance her career at the firm.

    “Literally because of him, one good project led to another one,” she said. “He became my biggest advocate in terms of being not only a sponsor for promotions but also a mentor for coaching me on the day-to-day.” Eventually, he became her direct manager, too.

    Many top consulting firms have various types of corporate mentorship programs, which are different from sponsors. These programs offer employees one-on-one guidance with senior-level executives. Some pair employees from different generations or demographic backgrounds.

    However, consultants say that mentorship alone can’t fill the gap between success and failure at a firm.

    The former Accenture consultant stayed at the firm for four years due to the support of her boss.

    “Beyond the formal boss and employee relationship, he also made an extra effort to both mentor me and be my advocate,” she said, noting that the distinction is important. “I think that people need individuals who are in both camps. Sometimes, you can’t get both in one person.”

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