Kevin O'Leary, the multimillionaire investor and Shark Tank star, has a blunt warning for elite business school graduates: avoid long stints in management consulting or risk becoming “unemployable for life.”
According to the Daily Mail, at Harvard Business School, where O'Leary serves as an Executive Fellow teaching “The Founder Mindset,” he’s on a mission to steer top MBA students away from what he calls a soul-crushing trap of mediocrity in consulting.
As a successful entrepreneur who built his fortune through the $4.2 billion sale of SoftKey Software Products, O'Leary’s critique carries weight. He argues that while consulting offers hefty starting salaries of $250,000 to $350,000, first-class travel, and peer prestige, it’s a gilded cage. Staying beyond two years, he warns, brands you as irrelevant in the real business world.
“Look, if you want to drift into hell on Earth, stay 24 months in a consulting firm and you are tainted meat for the rest of your life,” O'Leary told Fortune. He believes that lingering in these roles means you never make real decisions, just write reports that don’t matter.
At Harvard, where consulting has long been seen as a fast track to executive leadership, O'Leary’s words cut against tradition. Many MBAs have historically risen to lead corporations, manage hedge funds, and influence economic policy after consulting stints.
Yet, O'Leary claims two-thirds of his students still aim for these roles when surveyed in class. He’s determined to change that, saying he feels successful if he can redirect even a few each semester.
Why does O'Leary push so hard against consulting? He argues it’s a path to comfort, not liberty, where you might attend soccer games and picnics but never achieve true financial independence. “You’ll never be free,” he insists.
Contrast that with entrepreneurship, which he admits is grueling—think 100-hour workweeks, no vacations, and shared apartments with multiple roommates. But the payoff, he says, is worth it: the ability to call your shots.
O'Leary’s disdain for long-term consulting is visceral. “I always take those résumés of consultants that want to get into the real world, and throw them in the garbage,” he admits. For him, it’s personal.
He hammers home the idea that freedom comes from ownership and risk, not a steady paycheck. Consulting, in his view, is where potential goes to die if you overstay. “Why would anybody burn all those hours while someone else makes money, and you do nothing of consequence?” O'Leary asks. It’s a question worth pondering for any ambitious graduate.
For those tempted by consulting’s allure, O'Leary offers a stark timeline: get out within 24 months or risk permanent damage to your career. He believes staying longer infects your résumé with a mark of irrelevance.
So, what’s the takeaway for readers chasing wealth and autonomy? Consider O'Leary’s push for entrepreneurship—yes, it’s brutal, but it builds real skills and ownership. Start small, test ideas, and avoid the corporate trap of endless reports.
Invest in yourself by learning to take calculated risks, whether through a side hustle or a full leap into founding a venture. Resources like local startup incubators or online platforms for entrepreneurs can be a starting point.
Ultimately, O'Leary’s message is clear: don’t trade your potential for a cushy gig that chains you to mediocrity. In a free-market world, real wealth and liberty come from creating value, not just collecting a salary. Think hard about where your next step leads.