The Transition From University to the Consulting Industry: A Qualitative Multicase Study of Well-Being Among Recent Graduates in the Transition From University to the Consulting Industry

Abstract

This study investigates how the well-being of recent master’s graduates is affected during the transition from university to full-time work in the consulting industry. While existing studies document that many graduates find the school-to-work transition difficult, they primarily rely on quantitative data and lack focus on the complex underlying aspects of these experiences. To explore this phenomenon, this study focuses on the consulting industry as an empirical context. Grounded in the hermeneutic paradigm, this thesis adopts a qualitative approach to examine data gathered through 11 in-depth interviews with newly employed consultants from three consultancy firms. The empirical data is analyzed exploratively, drawing on initial assumptions and prior knowledge, as well as a theoretical framework that includes the Job Demands-Resources model, Sense of Coherence (SOC), identity theory, coping theory, self-efficacy, psychological safety, and imposter syndrome. This study finds that the transition is influenced by a merging of identity and self-perception with the consultant role, making the ability to manage job demands crucial for graduates’ self-understanding and well-being. The participants face a range of complex demands, organizational, client-related, social, and personal, which they attempt to manage using available resources. Their well-being depends on the balance between these demands and their accessible resources. Graduates with prior consulting experience, high self-efficacy, and a strong SOC tend to experience a better balance, which enables them to manage demands more effectively, supporting stronger well-being. Others, however, experience significant strain that negatively impacts their well-being. Those who struggle often have a weak SOC, limited personal resources, and reduced access to organizational resources, due to low psychological safety, making it more difficult to manage demands constructively. In some cases, this leads to emotional overload and thoughts of leaving the industry. Based on these insights, the thesis presents two recommendations for consulting firms: (1) to implement a structured “shadowing” program, in which newcomers observe peers on projects before taking on billable work, thus building experience as a resource and (2) to ensure transparency and alignment of expectations to reduce uncertainty. The study contributes to a more nuanced understanding of school-to-work transitions for graduates entering the consulting industry.