Beyond the Uniform

Clay Othic is the Director of Outreach & Special Activities at the Three Rangers Foundation, a non-profit that works to provide deserving veterans with opportunities that will empower them to achieve lifelong success. He served in the US Army Special Operations for over 13 years. He also owns F3 Pursuits, which provides training and consultancy, primarily in the tactical operations and law enforcement community.

Why to Listen: The Three Rangers Foundation is a free resource to help veterans achieve lifelong success. 

Our Sponsor: 

• StoryBox - People trust each other more than advertising. StoryBox provides the tools and supports businesses need to take the best things customers say about them, and use them to drive more sales and referrals. StoryBox offers a 10% discount to companies employing veterans of the US Armed Forces.
• Audible is offering one FREE audio book to Beyond the Uniform listeners. You can claim this offer here, and see a list of books recommended by my guests at BeyondTheUniform.io/books

Selected Resources: 

• The Leadership Podcast - Self Reliant Leadership runs this podcast, where they study leaders and publish interviews every week about leaders and what makes great leaders

Kristen Sproat Colley is a Consultant at the Boston Consulting Group in their D.C. office. She started out at the US Naval Academy and earned a MSc from Oxford University in Forced Migration. She served as an officer in the US Marine Corps for eight years, prior to making her transition to BCG. At BCG she has worked on blockchain integration with the global supply chain for a technology company, economic and social strategy implementation for a Middle Eastern government, and foreign business development for a US defense company.

Why to Listen: For those interested in a career in Management Consulting, Kristen does a fantastic job of breaking down what the projects and day-to-day life are like, as well as very tactical steps to prepare for your interview. But even if you're not interested in consulting, Kristen has great advice on how to explain your skills and make a connection with the person interviewing you for whatever job you pursue.

Our Sponsor: 

• StoryBox - People trust each other more than advertising. StoryBox provides the tools and supports businesses need to take the best things customers say about them, and use them to drive more sales and referrals. StoryBox offers a 10% discount to companies employing veterans of the US Armed Forces.
• Audible is offering one FREE audio book to Beyond the Uniform listeners. You can claim this offer here, and see a list of books recommended by my guests at BeyondTheUniform.io/books

Selected Resources: 

• Service Academy Career Conference (SACC) - Kristen met with many firms to which she applied at the SACC
• Books
  • Case in Point
  • Case Interview Secrets
  • Cracking the Case Systems (lots of practice cases)
• Publications - what are different industries doing, what challenges are occurring in the world Having general knowledge and understanding the economic landscape
  • The Economist
  • The Wall Street Journal
  • The NPR Marketplace Report

Transcript & Time Stamps: 

 

Trevor Miller is a Consultant at Bain & Company in their Boston office. He started out at the US Naval Academy, after which he earned his Master of Public Administration at Harvard University’s John F. Kennedy School of Government. He served in the Marine Corps as a Force Reconnaissance Officer for six years, before transitioning to Bain.

Why to Listen: 

Trevor managed to go directly from Active Duty military to Bain & Company, something that less than 7% of military veterans in Management Consulting are able to do. He talks about preparing for one's transition to a civilian career as early as possible, and also being willing to take a step back and take the longview on one's career.

In this episode, I review a book that I know will benefit every veteran, John C. Maxwell's Failing Forward. Nearly every person I've interviewed on the show has talked about failure - and many, many failures - that they have experienced in their career. This book does an exceptional job of talking about how you can shift your relationship to failure, build up resilience towards it, and how vital this is to achieving great goals in life.

Selected Resources:

• BTU #110: Co-Founding Plated & Raising $55M (Nick Taranto)
• BTU #84 – Nate Boyer: Army Green Beret to the NFL
• BTU #139 – Founding Bunker Labs (Todd Connor)

This is my final episode for the year of 2017. In this episode, I talk about three topics that are very top of mind for me with the Veteran community, and I share a handful of resources related to each topic. I also look back at where Beyond the Uniform has gone in 2017, and what lies ahead for 2018. As always, I greatly appreciate your feedback, and look forward to a great 2018 with all of you!

Selected Resources:

• BTU #139 – Founding Bunker Labs (Todd Connor)
• BTU 141: The CEO of Franchise Business Review talks about Vets in Franchises (Eric Stites)
• Tim Ferriss interview (ask for 10% discount)
• Failing Forward: Turning Mistakes into Stepping Stones for Success
• Gary Vee #275 - Ray Dalio
• TED Talk Mel Robbins - How to stop screwing yourself over

Why to Listen: Today is my third and final data post about Veterans in the field of Management Consultants. Today, we dive in specifically to look at the top three Management Consulting Firms - McKinsey, Boston Consulting Group, and Bain - and what characterizes the veterans who work there. If you're interested in consulting, this will be an interesting look including the most popular schools people go to, how long they serve, and how they get there.

Our Sponsor: 

• StoryBox - People trust each other more than advertising. StoryBox provides the tools and supports businesses need to take the best things customers say about them, and use them to drive more sales and referrals. StoryBox offers a 10% discount to companies employing veterans of the US Armed Forces.
• Audible is offering one FREE audio book to Beyond the Uniform listeners. You can claim this offer here, and see a list of books recommended by my guests at BeyondTheUniform.io/books

Selected Resources: 

• Related Interviews
  • BTU #1 – Blake Lindsay: Active Duty to Consulting @ McKinsey & Co.
  • BTU #135 – Data: A look at Veterans at Top 10 Consulting Firms (Original Data Analysis)
  • BTU #133 – What it takes to become a McKinsey Consultant (original data analysis)
• Most common schools for MBA based on LinkedIn data mining:
  • Harvard
  • Wharton
  • MIT Sloan
  • Darden
  • Chicago Booth School of Business
  • Stanford
  • Kellogg
  • Duke
  • Tuck
  • Yale

"Learning in a classroom is much different from actually doing it. And so I thought I had all this great knowledge coming out of my MBA program but then when I actually became a startup CEO, I found it really was a different world. While textbook knowledge can be helpful and important, it’s really not ultimately going to determine your success as an entrepreneur.”
- Charlotte Creech

Why to Listen: 

Long time listeners know that typically on the show, I interview military veterans that have transitioned into civilian careers. Today I’m doing a resource episode and my guest is Charlotte Creech, a military spouse and current CEO of Patriot Boot Camp. Many active duty military members, veterans, and spouses can take advantage of this great resource. We cover many things in this interview including starting a business, the Patriot Boot Camp program, many misconceptions veterans have about starting a business, and advice Charlotte would offer to those wanting to start and grow their own business.  We also talk about how ruling out what you don’t want to do in your civilian career can be just as important as what you do want to do. Finally, we talk about challenges unique to being a military spouse and how you can support your spouse through your transition out of the military.

Our Sponsor: 

• StoryBox - People trust each other more than advertising. StoryBox provides the tools and supports businesses need to take the best things customers say about them, and use them to drive more sales and referrals. StoryBox offers a 10% discount to companies employing veterans of the US Armed Forces.
• Audible is offering one FREE audio book to Beyond the Uniform listeners. You can claim this offer here, and see a list of books recommended by my guests at BeyondTheUniform.io/books

Selected Resources: 

• Applications are now being accepted for our February 16-18 session. Those that are interested can go to www.veteransbootcamp.org to apply.  It will be held in San Antonio, TX. There is no cost to attend, it is completely sponsored and paid for. However, if you are coming from out of town, you would need to cover your transportation and hotel costs.

• Books

  • Lean Startup

  • Do More Faster

• Podcasts

  • A16oz - Andreessen Horowitz

  • How I Built This

• Blogs

  • FeldThoughts

  • Fred Wilson’s AVC

Transcript & Time Stamps: 

Today is Episode #137 with the CEO of Patriot Boot Camp, Charlotte Creech.

“Learning in a classroom is much different from actually doing it. And so I thought I had all this great knowledge coming out of my MBA program but then when I actually became a startup CEO, I found it really was a different world. While textbook knowledge can be helpful and important, it’s really not ultimately going to determine your success as an entrepreneur.”             –Charlotte Creech

 

(0:55)

Long time listeners know that typically on the show, I interview military veterans that have transitioned into civilian careers. Today I’m doing a resource episode and my guest is Charlotte Creech, a military spouse and current CEO of Patriot Boot Camp. Many active duty military members, veterans, and spouses can take advantage of this great resource. We cover many things in this interview including starting a business, the Patriot Boot Camp program, many misconceptions veterans have about starting a business, and advice Charlotte would offer to those wanting to start and grow their own business.  We also talk about how ruling out what you don’t want to do in your civilian career can be just as important as what you do want to do. Finally, we talk about challenges unique to being a military spouse and how you can support your spouse through your transition out of the military.

 

(2:30)

A couple quick admin notes. Don’t miss our Veterans in Consulting seminar on January 17th. We have three speakers locked in that are veterans who went straight from the military into consulting. If you have any interest at all in consulting, this is worth checking out. Also, if you haven’t had a chance to leave Beyond the Uniform a review on iTunes, please do. It really helps us get the word out to other veterans.

 

(3:40)

Joining me today is the CEO of Patriot Boot Camp, Charlotte Creech. Patriot Boot Camp is a 501(c) non-profit that aims to equip active duty and veteran military members and their families with the education and resources needed to build the next generation of impactful companies. Prior to Patriot Boot Camp, Charlotte co-founded Combat 2 Career, a technology start-up that matches veterans with higher education opportunities. Charlotte holds an MBA from the University of Connecticut and a Bachelor of Science in Business Management from Bentley University.

 

(4:50)

Anything to add to that introduction, Charlotte?

 

Well most importantly, the reason why I feel so strongly about serving the military community is because my husband is an Air Force veteran. He was enlisted in the Air Force, serving two years in the Honor Guard at Arlington National Cemetery. Then he went to Fire Academy and subsequently after leaving the military, began serving in a GS role. So now he is a full-time firefighter at Fort Hood in Texas. I also have two siblings that served in the Navy and the Army.

 

(5:29)

How would you describe Patriot Boot Camp?

 

We’re acutely focused on advancing veterans as entrepreneurs with a specific focus on technology entrepreneurship. We help veterans grow scalable tech ventures. Anything ranging from software to hardware and mobile apps. Drones also fall within that umbrella.

 

(7:15)

I think it’s fantastic that you also support spouses in this program since all of us who have served know that spouses are just as impacted by military life as the service member.

 

I was able to go through Patriot Boot Camp myself when I was beginning a tech start-up because I was a spouse of a veteran so I know how important it is for the military spouse community.

 

(7:55)

Could you share a little bit more about the three-day course that you offer?

 

It’s a three-pillared approach focusing on education, mentorship, and community. It’s a three-day intensive course that you attend in person.  Over the course of the three days, we recruit 50 early stage entrepreneurs. By early stage we mean anything from you have an idea that you want to get started to Series A (early stage fundraising). People come to Patriot Bootcamp looking for a community and resources. That comes in the form of mentorship from other veteran entrepreneurs and other entrepreneurs in general. These mentors are able to offer participants insight on pitfalls to avoid and opportunities to take advantage of. We believe this helps participants achieve more.

 

(9:47)

Over the course of the three days, participants are exposed to lectures and discussions on a series of topics relevant to veteran entrepreneurs. For mentorship, we bring in anywhere from 30-50 subject matter experts including engineers, software programs, marketing experts, and successful entrepreneurs. These mentors are there to have individual meetings with participants throughout the weekend. Participants are able to receive tailored feedback specific to their own start-up or idea.  On the third day we have a mini-pitch competition which is meant to be more of an academic exercise. Participants aren’t actually pitching before investors but it’s a great opportunity to apply the skills learned throughout the three-day course. The hope is that by the end of the weekend participants leave with 2-3 strong mentorship connections that they can continue talking to in the future.

 

(12:00)

I’m listening to all of this with a bit of envy because in my own journey, I went straight from the Navy to business school. But it seemed like a lot of business school was preparing students to eventually be CEOs of Fortune 500 companies. Less of it felt relevant to the issues faced when getting a start-up off the ground. I think this is an incredible opportunity for veterans to gain training and mentorship in the tech field.

 

I had a similar experience. I have a business background as well and had gone to school to earn my MBA. I felt like I had the textbook version of how to start and grow a company. But of course learning it in a classroom environment is very different from actually doing it. I thought I had all this great knowledge coming out of my MBA program but then when I became a startup CEO, and was trying to raise capital and build a product, I found out that it really was a different world. I discovered that while textbook knowledge can be helpful and important, it’s really not going to ultimately determine your success as an entrepreneur. One of the key takeaways from Patriot Boot Camp is that entrepreneurship is not a linear pathway. You may need many different mentors and advice throughout your entrepreneurship journey. This can help you navigate through all of the obstacles you face.  It’s for this reason that we make Patriot Boot Camp really mentor driven and bring in a wide variety of mentors. Our participants are also welcome to come back to Patriot Boot Camp more than once so we see many participants coming back multiple times to increase their knowledge and grow their mentor network. As you begin to grow your company, your needs and challenges will change and we want to continue to provide support and mentorship for these veteran entrepreneurs.

 

(16:30)

I love Patriot Boot Camp’s focus on mentorship. Having mentors to provide advice and feedback can save an entrepreneur hundreds of hours of time and millions of dollars of capital.

 

Yes we hear that same feedback all the time and that’s why we feel so strongly about the program’s focus on mentorship.

 

(16:52)

When is the next three-day course happening and what is the cost to attend?

 

Applications are now being accepted for our February 16-18 session. Those that are interested can go to www.veteransbootcamp.org to apply.  It will be held in San Antonio, TX. There is no cost to attend, it is completely sponsored and paid for. However, if you are coming from out of town, you would need to cover your transportation and hotel costs.

 

(18:55)

What is the typical mix in the program between those that are serving on active duty and those that have transitioned out?

 

There really isn’t one size fits all. We’ve seen Vietnam Veterans, we’ve had post-9/11 veterans and everything in between. We’re open to everybody. As far as the most common profile? Most commonly we see veterans that have separated within the last five years. Usually less than 20% are active duty. Most people are veterans but it really varies by program and location.

 

(20:31)

We’d actually love to see more active duty take advantage of the program because I think it can be a really pivotal learning experience. There are few consequences other than having to take a day or two of leave. But to be able to build that network while still on active duty is an important opportunity. Of course we want to see as many successful start-ups as possible grow from Patriot Boot Camp. But if someone comes to the program and realizes that this lifestyle or work environment isn’t for them, it can be just as important because it saves them down the road from investing time and money into something that isn’t a good fit for them.

 

(22:30)

One of the best pieces of advice I received while at Stanford Business School was that you shouldn’t look for what you want to do but what you don’t want to do and then start closing those doors. I really like that sentiment of being able to get a taste of the tech industry through Patriot Boot Camp and being able to decide whether or not it’s a good fit.

 

We’ve had some interesting stories of people coming through Patriot Boot Camp and through connections with some of the mentors there, they discover that joining a startup already in existence is a better fit for them than beginning their own startup.  They might make a connection with a program or software engineer during the course of the weekend and realize that they want to be involved in those specific functions rather than have their own startup.

 

(23:40)

What are some of the biggest misconceptions people have about starting their own company?

 

One of the biggest misconception is the lifestyle. If you think you want to start your own business because you want more time and flexibility, this is probably not the right way to do this. I have experience being a small business owner myself and I can tell you it’s one of the hardest things you’ll ever do. When there’s nobody to delegate work to and nobody you’re working with, you’re on call 24/7. You breathe, eat, and sleep your business. There’s lots to worry about and although it’s very exciting, it can also be incredibly stressful. Don’t go into business because you want to be in control of your time because the honest truth is that you’re going to be a slave to your business. I don’t say this to discourage anyone or be pessimistic. But it is the reality of starting and growing your own business.

 

(24:55)

The other hard realization that comes along with this is that usually being in business for yourself does not come with a salary on Day 1. I went about two years without taking a salary because we were investing all of our capital into product development. If you’re not a programmer, it can get very expensive hiring someone else to build the technology.

 

(27:12)

I echo all of what you just said. I had the same experience in my own entrepreneurial journey. Do you have any other advice for someone on active duty that is thinking about starting their own business?

 

I think the important thing is to start now.  Entrepreneurship may or may not be the right fit for you and your product may or may not have market viability but you won’t know until you try. The earlier you can start the process and start narrowing down, the better off you will be.

 

(29:10)

So many times I hear people say, ‘I’m still figuring it out’ or ‘I’m writing my business plan’.  I always advise them that execution is really all that matters in entrepreneurship. So if you have an idea, start talking about it now. Don’t keep your ideas to yourself. Just start executing. I’ve been told before that there is someone out there in the world with the exact same idea you have.  The only difference is who gets out and starts executing the plan.  So don’t sit in seclusion, keeping your idea to yourself. Get out there and share your ideas with others, find mentors, and don’t be afraid to start experimenting.

 

(33:20)

Do you have any resources you would recommend to active duty members and veterans that are thinking about pursuing entrepreneurship?

 

Sure, there’s a whole litany of resources. First, look into programs such as Patriot Boot Camp, Bunker Labs, and EBV. All of these organizations host free entrepreneurship training programs.

 

Books

Lean Startup

Do More Faster

 

Podcasts

A16oz - Andreessen Horowitz

How I Built This

 

Blogs

FeldThoughts

Fred Wilson’s AVC

 

It can also be really helpful to follow different entrepreneurs through social media and just see the kinds of things they are talking about.

 

(35:10)

I love ‘How I Built This’ as well. It’s inspiring to hear about the wild and crazy rollercoaster that some startups have gone through.  Another thing I’d like to ask about is your experience as a military spouse. I’m curious to hear if there are any unique challenges faced by military spouses during the military members’ transition to a civilian career?

 

My husband had separated from the Air Force by the time I started my company so I wasn’t a true military spouse at the time. However, my business partner was a veteran of the Coast Guard and her husband was still currently serving on active duty in the Coast Guard.  In the four years that we ran our business, she PCS’d three times.  It was an unbelievable hurdle for her to get over because every time she got settled somewhere, she PCS’d again. So even something as simple as finding a co-working space can be really challenging when you’re moving all the time. One of those PCS moves was to South Bend, Indiana so her husband could attend graduate school at the University of Notre Dame. But for her, it was difficult, because she was surrounded by cornfields and very few resources. That was a big hurdle we faced as a business. It made me realize how important it is to provide service to military spouses as well because they’re along for the journey too. 

 

(39:00)

Spouses face a lot of adversity not only in terms of their job but also in losing their community and network. All the while they’re juggling work life, home life, having to find new schools for the kids, etc. I think the more we can build a connected network that doesn’t rely on a physical location, the better we all are. I want spouses to know they can come to a Patriot Boot Camp workshop and meet 50 other like-minded people that they can keep in touch with once they return home.

 

(40:58)

Now is better than it’s ever been in terms of the ability to remotely build teams that achieve success even if you’re not in the same physical location.

 

(41:10)

Do you have any other thoughts for active duty military members on ways they can support their spouse as they transition out of the military?

 

A lot of it is just being conscious of the concept that as you transition out of the military, your spouse is along for the ride. One thing we saw with one of our Denver community members – her husband was active duty in the military and she had always done freelance work. Most of her gigs came from her husband’s connections inside the military. When he retired, he immediately got a really great consulting gig without missing a beat. But with her it was different because when her husband transitioned out, she lost her network, her connections, and the support from the community. She came through our program wanting to find a community. It was a good reminder that as you transition out, your spouse is losing access to the resources and community that they’ve had while you’ve been in.

 

(44:00)

I’m embarrassed to say I haven’t thought about it much before but it’s absolutely true that the transition out of the military can be just as challenging for the spouse as it is for the member.

 

Right. And I don’t think anyone has come up with a resource guide or playbook but just being aware of the issue is half the battle.

 

(44:50)

Any last thoughts to share with our listeners?

 

Just that you don’t know what you don’t know. And that’s ok. It’s more about learning and growing your network. Be open mind to new opportunities and meeting new people. Even if you don’t have what you consider a stellar business idea yet, it can still be extremely beneficial to just go and meet new people. You might be surprised at the outcome and where it leads you.

 

(46:14)

The other thing is that there is no one size fits all and I encourage people to take advantage of many different programs. Of course I want people who are interested in Patriot Boot Camp to take advantage of our program. But these programs aren’t mutually exclusive and you can take advantage of many different opportunities. Get involved in as many things as you can.

 

(47:20)

If anybody would like to contact me directly, they are more than welcome to do so. My email is [email protected]

Why to Listen: 

In episode #133, I dove into original data about how veterans manage to secure a job at the top rated Management Consulting firm, McKinsey & Company. Today, I take this 100 steps further by analyzing data about how veterans enter into a top 10 consulting firm. I look at salary information, as well as how branch of service, length of military service, and length of civilian work experience all impact your future career as a consultant.

Our Sponsor: 

• StoryBox - People trust each other more than advertising. StoryBox provides the tools and supports businesses need to take the best things customers say about them, and use them to drive more sales and referrals. StoryBox offers a 10% discount to companies employing veterans of the US Armed Forces.
• Audible is offering one FREE audio book to Beyond the Uniform listeners. You can claim this offer here, and see a list of books recommended by my guests at BeyondTheUniform.io/books

Selected Resources: 

• This lists the top 10 Management Consulting Firms: “The Most Prestigious Consulting Firms”
  1. McKinsey & Company
  2. Boston Consulting Group
  3. Bain and Company
  4. Deloitte
  5. Booz Allen Hamilton
  6. Price Waterhouse Cooper
  7. Ernst & Young
  8. Accenture
  9. KPMG
  10. IBM Global Business Services

Transcript & Time Stamps: 

For this episode I looked at 4,300 LinkedIn Profiles. This includes people who served in the United States Armed Forces, and then worked at some time at one of the top ten Management Consulting Firms as defined by Forbes. We’re going to look at a tremendous amount of data - how long people serve in the military, how long they work prior to consulting, how this affects which consulting firm they work with and at what level.

At the end of this we’re going to get into a lot of salary information. So I always want to provide a disclaimer at the start that there are SO many factors that go into selecting a career - location, fit, community, opportunity for advancement, fulfillment, and work life balance just to name a few. And yes, salary is one of those factors. It is the simplest for me to quantify, so I think it is worth discussing. However, my intention in going through this data is simply to provide you - the veteran community - with more information so that you can make the unique decision that is right for you and for your family. If you have not listened to the first episode in this series - I recommend you check that out. It’s not necessary to listen to that prior to this, but it has other great data relevant to veterans interested in consutling.

More importantly - if you have not pre registered for January 17th online event, Veterans in Consulting - stop what you’re doing right now and do it.

• Pull over 
• Get someone to relieve you as Officer of the Deck
• Go to periscope depth and get a satellite connection
• Do whatever you have to but go to Beyondtheunifom.io
• Click on events and Veterans in Consulting
• And pre-register

That way you’ll get notified as this event comes together. It will be a 75-minute, video conference where I interview 3 different veterans who went directly from Active Duty to a top tier consulting firm. I will be asking about how they got there, what life is like, what work is like, what pay is like, what the snacks are like. Everything you could possibly want to know about a career in consulting, and quite possibly 1-2 things you do not want to know about it.

Additionally, I will open it up to the group for a live Q&A session. You do not want to miss it, so pre-register today. This will be a  paid event - something between $10-15 depending on if we find a sponsor. The reason for the charge is because (1) there is a large body of research showing that people value more that which they pay for, and (2) it does help offset the cost of the BTU show - this is a side project for me, and I’ve managed to rack up quite a bit of expenses in bringing this to life. I want to continue to offer the podcast nd data for free to everyone, but having paid events will help me continue to do this.

Ok - so let’s dive in - to some data

• Agenda
  • We’ll start by looking at the firms - by total number of veterans - where folks end up
  • Second, we’ll look at the breakdown by branch of service - what that indicates about where veterans end up
  • Third, we will look at time in service - how that impacts one’s career in consulting
  • Fourth, we will look at civilian work experience, and how that affects where one ends up
  • And lastly, we’ll look at titles - which titles veterans tend to gravitate towards at each specific firm
  • If you are interested in how I assembled this data, post in the show notes - i do not want to bore you here
  • But special thanks to mTurk - people who for $0.05 a task, helped me assemble and analyze this data.
  • They save me hundreds of hours, and also cost me hundreds of dollars
  • But it’s very likely that money would have gone to Larkburger’s delicious though not too nutritious burgers, fries, and shakes
  • So it’s not too unlikely that by using this money for this data analysis, I have saved myself years of life, and avoided unnecessary pounds of weight

Let’s start by looking at the firms and where veterans end up. To do this, I’m going to use that Forbes list of the 10 Ten Management Consulting companies:

• The #1 firm is McKinsey & Company, where 2% of veterans who go into Management Consulting end up
• The #2 firm is Boston Consulting Group - or BCG - only 1.2% of veterans are able to get in the door there
• Bain & Company is #3 - where just above half a percent of veterans end up. This was the lowest number of veterans of any of the top ten firms
• #4 is Deloitte, where there are a lot of veterans. 12.2% of all veterans in consulting end up at Deloitte
• But that is NOTHING - it just a drop in the bucket - compared to the #5 firm. Booz Allen Hamilton took the lion’s share of all veterans in consulting, with 42% of veterans in consulting working at Booz Allen and Hamilton. 
• #6 is Price Waterhouse Cooper or PWC, which has about 6% of veterans
• #7 is Ersnt & Young, also with 6%
• #8 is Accenture, with 10%
• #9 is KPMG with only 1.5%
• and last but certainly not least is IBM, which was the second highest employer with 18% of veterans in the management consulting industry

What should you take away from this 

• Well less than 4% of all veterans who go into Management Consulting end up at a top 3 firm
• If that is your aspiration it would be worthwhile to study those who have gone before you and learn from how they got there
• that was my intention in part 1 of this where I looked at the rare birds who made their way into McKinsey & Company
• If you are playing the odds, I would be sure to add the more popular firms to your application process - Deloitte, Booz Allen Hamilton, Accenture and IBM are all great firms, and have a large veteran population
• Not only does this mean - statistically - that you have a better chance o working there, but it also means that there is a wealth of knowledge, so many veterans at each of these institutions that can help you understand what it’s like to work there as well as how you might get a job there too

Next, let’s look at branch of service. Of these 4k+ veterans who are working in Management Consulting, where are they coming from:

• The most - 39% - are coming from the Army
• followed by the Air Force - at 31%
• Followed by my team - Navy - team navy is 28%
• and then Coast Guard and Marine Corps, with 2% and 1% respectively
• Don’t read too much into this - Coast Guard and Marine Corps are smaller branches in terms of population, so it’s not surprising that their representative number in any industry will be smaller.

I did find it interesting, amongst the branches, to see where each branch spiked in the population of a firm

• At McKinsey & Company, the Navy is actually the largest population - 44% vs. the Army’s 40% - so take that, Army
• That was the only deviation that stood out - for the most part, Army is the largest population at the different consulting firms
• Of note - it is pretty equal distribution at IBM, where it’s pretty much 1/3 1/3 1/3 for army / navy / air force
• Bain is 51% army - so pretty lopsided
• And BCG & McKisney had Army & Navy pretty comparable - just about 5% apart, but Air Force represented to a lesser extent here with 18% at Bain and 15% at BCG

Let’s look at length of military service and how that affects one’s career in management Consulting

• Army leads the charge in terms of numbers in consulting, but is at the bottom of the ladder when it comes to length of service
• the average Army veteran served for 7.1 years - that was the least amount of service 
• Navy, Air Force, and Coast guard were pretty event - with 10, 10.3 and 10.5 years of service resepctively
• And Marines are inspiring me with their patriotism - they serve for 12.3 years on average
• I do think it would be VERY interesting to look at how length of service correlates to starting title an salary at each company
• For that I would need a lot more mTurkers and more money so for now - that one will remain a mystery

I also looked at how length of military service affects the Management Consulting firm. Again, using that Forbes ranking of the top 10 let’s look at the numbers:

• #1 McKinsey - the average veteran served for 6.7 years. This was the 3rd shortest length of service
• #2 Boston Consulting Group or BCG - this was the 2nd lowest amount of military service, an average of just 6.4 years
• #3 Bain was the LOWEST length of service - or 5.8 years of service
• One can theorize as to why this is, but it is clear to me that those veterans working at a top 3 management consulting firm got out of the military earlier than those who did not
• I have some hypothesis about this
• One is that - from my McKinsey research it’s clear that an MBA is the most efficient route to a role at one of these three companies
• I’m guessing that this is easier to do earlier in ones life, where the opportunity cost is lower to go to business school
• And I’m guessing it is more difficult to do later in ones life - after one has become accustomed to a higher salary in the military, has accumulated more personal life obligations, and is less able to forgo a salary for two years than earlier in life
• But of course, that is just a theory
• #4 Deloitte - 8. 1years of service - this is actually the third highest length of service
• #5 Booz Allen Hamilton - this is the longest length of service 12.8 years on average. So it seems to attract those who have served longer in the military
• PWC was #6 on Forbes list and the average service here was 7.5 years 
• EY #7 was 6.8
• Accenture #8  was 8.1
• #9 - KPMG was 6.4 years of service
• and IBM at #10 was 8.4 years of service, which places them as the second longest length of military service
• What to take away from this
• I’m not quite sure - share your thoughts in the comments section of the Show notes - would love to have greater minds than mine take a crack at this
• But the only theory that jumped out to me was about the top 3 firms

Next - I looked at how much civilian work experience veterans had prior to working at in Management Consulting. Again, first we’ll start with branch of service and then break this down by firm

• Marines had the least amount of civilian work experience prior to going into Management Consulting, that is 3.3 years on average. You’ll remember that they also had the longest length of military service so maybe this accounts for it
• the US Army had the most civilian work experience prior to consulting time - or 6.6 years of work experience
• In between was the Coast Guard with just 3.9 years of civilian work experience, the air force with 5.3 years of work experience, and then the Navy with 7.1 years of civilian work experience
• This made me think - what is the total amount of experience someone has before going into Management Consulting - between military service and then civilian work experience. 
• So I cut the data one more way and found
• That the Army has the least amount of combined experience pre-consulting - 13.7 years
• Coast Guard closely behind that with 14.4 years of exprience
• The Air Force had 15.6 years
• The Marine Corps about the same with 15.7
• and the Navy bringing up the rear with a whopping 17.1 years of experience

I then looked at years of civilian work experience by Consulting firm

• I found the results comparable to the years of military experience
• that is the top 3 firms had the lowest amount of service
• Specifically McKinsey, BCG, and Bain had 2.1, 2.2 and 1.3 years of experience respectively
• Which, coincidentally is highly correlated to the length of time it takes to obtain an MBA
• Doillete averaged 7.2 years
• Booz Allen was surprising - just 2.7 years of work experience. You’ll recall that Booz Allen had the longest length of military service, at 12.7 years. So I would guess that people spend more time on Active Duty prior to working at Booz Allen, but more often go directly from the military to work there. Just a guess.
• PWC was 4.8 years
• EY 7.1 years
• Accenture & KPMG were 7.5 and 7.9 years, respectively
• And IBM was the longest at 11.1 years of civilian work experience
• My main takeaways from this were the velocity with which people enter a top 3-firm, and how it seems like it is easier to make a direct transition to Booz Allen than any other firm
• But again - let me know your thoughts and questions in the comments section of the show notes, and I’ll dig into this further
• One last thing I wanted to do with this, just as we did with branch of service is take a crack of combined experience - both military and civilian - for each firm.
• So, looking at the shortest amount of combined experience - both military & civilian - by firm
• The lowest, with just 7.1 years on average, was Bain & Co
• Silver medal goes to BCG with 8.6 years
• and Bronze is McKinsey at 8.9 years of service
• This is consistent with my hypothesis - the average candidate at these top three firms gets out earlier, and goes to graduate school. Again that is just a theory.
• the next subset with 4th, 5th, and 6th place goes to PWC with 12.3 years, EY with 13.9 years, and KPMG with 14.3 years of average combined experience.
• Delloite has an average of 15.4 years
• Booz Allen at 15.5 yeras
• Accenture at 15.6 years
• and finally IBM with the most combined experience, at 19.5 years of combined experience

How are we doing? I know this is al to of numbers to be doing by audio. Before we dive into the final category, I would LOVE to hear your feedback on this sort of information - if it’s helpful, and if it is, how to dive deeper in a way that will help you out. If it is not helpful, any tweaks that would make it more usable.

So finally I looked at Titles and their corresponding salaries according to Glassdoor. So much information here - go to the show notes to see all of it. Note on salary - I looked at total compensation, not just base. Base is what you’re guarantee, total includes performance incentives like bonuses. I also used San Francisco as the office for my search - salaries will obviously vary by location. But this should provide a basic benchmark

Ok - so there are so many different ways to slice and dice this data. Here’s what I did:

• I looked at the most common titles for military veterans at each of the top 10 consulting firms
• I then cross referenced this with salary information that is available at Glassdoor.com
• Then I ranked each firm - by salary, highest to lowest

Take all of this with a grain of salt - there are so many factors that go into this, but here’s what I found

• The highest salary went to Accenture - the most common title there is Senior Manager, which is $207k
• Next was McKinsey, BCG, and Bain - these are all comparable around $180k
  • The corresponding titles were Associate at McKinsey & company, and Consultant at both BCG & Bain
• Next was IBM, where the title was Managing Consultant and a salary of $144k
• Then Booz Allen Hamilton, the most common title there is Associate and a salary of $132
• Deloitte was next, with the most common title of Senior Consultant, and a corresponding salary of $127k
• PWC was 8th, where the most common title is Senior Associate, which has a salary of $104k
• EY was 9th, the most common title there for veterans is Senior Consultant $102k
• And last was KPMG with a most common title of Senior Associate and a salary of $91k
• one final way to look at this data is by looking at those combined years of experience - both military and civilian - and seeing how much money in salary you get per year of experience
• Seen in this light, the best deal is with Bain, which is the highest at $24k per year of experience
• With BCG & McKinsey both providing $20.5k per year of experience
• And Accenture at #4 with $13k per year of experience
• You can view the full breakdown in the show notes

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