Why Do Some Experts Earn Six Figures for Doing Almost Nothing?
Strategies, skills, and mindset of top earners and how to build a high-value career yourself
Hello, fellow tech visionaries and innovation enthusiasts! Welcome to another exciting episode of Tech Trendsetters, where we dissect the DNA of technological brilliance and it
s impact on business and society. Today, we're exploring a topic that is relevant to any company, from small startups to large corporate giants: the art of high-value expertise in both consulting and IT.
You've probably wondered, as I have, what separates the tech gurus and top consultants commanding astronomical fees from the rest of us mere mortals. Is it just their knowledge, or is there something more... something almost intangible?
What sets these elite professionals apart is not merely what they know, but how they apply that knowledge, position themselves, and, ultimately, how they craft their professional narrative to align with the highest value markets in both consulting and IT.
How do top-paid specialists behave?
Who gets highly paid and why do clients love working with them?
What are the common mistakes to avoid?
The Maestro of Astronomical Fees
In the business world, certain consultants and IT experts command fees so substantial that only the largest corporations can afford their services. Let's consider an imaginary consultant we'll call Dr. John Maxwell, a fictional character inspired by some of the highest-paid business consultants and tech gurus in the United States. His approach exemplifies the phenomenon of high-value expertise in both consulting and IT.
There was a story about a small but very ambitious tech company that started reorganizing its business and upgrading its IT infrastructure. They couldn't afford to use the services of a guru for the entire project, so they invited him only to the final meeting of the Board of Directors.
So picture this: Maxwell shows up to this big, important meeting. He greets everyone, hands out his business cards, and then... he just sits down. The whole meeting goes on, with the Chairman asking for opinions, executives debating, ideas flying around the room about both business strategy and technical solutions. And Maxwell? He doesn't say a word. He just listens.
This goes on for hours. They're filling up flip charts, using up all the markers, really getting into it. And then, when it's all over, Maxwell finally stands up. Everyone's probably thinking, "This is it. This is where he drops some mind-blowing wisdom that'll change everything."
But you know what he does? He walks up to the flip chart, picks up a marker, and says, "You know, if you don't put the caps back on these things, they dry out pretty quickly." Then he caps the marker and sits back down.
Can you imagine the looks on their faces? I bet they were thinking, "Did we just pay an astronomical fee for this guy to cap a marker?"
What Was Maxwell Really Doing?
Now, you might be wondering, "What's the deal? Did this company just waste a ton of money?". But here's the thing – Maxwell did not sit idly by during this meeting.
First off, he was listening. Really listening. He was tracking every thought process, every argument, ready to jump in if things started going off the rails. It's like when you're debugging a complex piece of code or analyzing a intricate business process – sometimes you need to let it run and watch what happens before you can spot the issue.
Secondly, Maxwell had this incredible bird's-eye view of the problem. His years of experience in consulting let him see the big picture in a way that the people in the thick of it just couldn't. He could see how the business strategy and technical solutions intertwined.
But here's the real expertise – by letting everyone talk it out, Maxwell made sure they came to the solution themselves. It's like when you're mentoring a junior colleague in consulting or a young developer – sometimes it's better to let them figure it out, even if you can see the answer right away.
The Power of Doing Less
Now, imagine if Maxwell had done what most of us would do. What if he'd walked in, dropped some knowledge bombs, and walked out? Sure, it might have felt more satisfying in the moment, but it probably wouldn't have worked as well.
Why? Because people need to talk things through. They need to debate and argue and come to their own conclusions. If Maxwell had just given them the answer, they'd probably still be discussing it after he left, but without his expertise to guide them.
And let me tell you, managing a big group discussion like that is no easy feat. It's like trying to moderate a heated debate on a tech forum – some people want to wrap it up quickly, others could go on forever. It takes a lot of patience and skill to keep things on track.
What Can We Learn From This?
So, what's the takeaway for us in the tech and business world? A few things, I think:
Sometimes, the most valuable thing you can do is just listen. Really pay attention to what's going on around you.
Don't underestimate the power of letting people figure things out for themselves. It's like the old saying about teaching a man to fish, you know?
A small action at the right time can be more powerful than a long speech. It's like that one line of code that fixes a major bug.
Patience is key. In our fast-paced tech world, sometimes the best thing you can do is wait and let things play out.
Your real value comes from your ability to guide people to the best outcome, not from telling them what to do.
The Consulting Conundrum: High Salaries and Market Realities
Now, let's shift gears a bit and look at the broader consulting industry. You've probably heard similar stories about management consulting firms like McKinsey, Boston Consulting Group, or Bain & Company. There's a perception that everyone in consulting is rolling in dough, that the market is flooded with candidates, and that firms can hire whoever they want. But is that really the case?
I've been in this industry for a while, and I keep seeing the same picture over and over again. This isn't just happening in the big firms you've heard of, but also in smaller boutique consulting companies.
On one side, you've got this crowd of "consultants" and rumors about their astronomical salaries. On the other hand, when we look at the responses to job postings, we often see that a significant portion of candidates do not match the job requirements. It's a complex situation that deserves a closer look.
The Salary Myth in Consulting
Why do people think salaries are so high in consulting (the same applying to IT sector in general)? Well, it's pretty simple, but there are a few factors at play:
Business schools and coding bootcamps (when it comes to IT), have created this hype. They claim that after just one MBA or a few months of training, graduates will be earning six-figure salaries. So people wonder, how much do consultants with 2-3 years of experience make?
News reports love to talk about the high salaries and perks in IT and consulting. These stories are everywhere: LinkedIn, business news sites, even mainstream media. For people outside the industry, what do they hear? There's this magical consulting or IT world where people are making bank.
The Reality: Why Only a Minority Earn Top Dollar
Here's the truth: strong consultants and IT professionals always earn much more than the median and average salaries, but the number of such specialists is always quite small. The demand for these top performers is high enough that they can often dictate their own terms.
Before recent global events, both the consulting and IT job markets were considered candidate's markets. There were so many offers that even professionals with average skills were fending off recruiters. Don't like the projects or tasks? The manager doesn't listen to your ideas? Feeling burned out? Great reasons to change firms or ask for a raise, claiming you've received a more attractive offer.
On top of this, there were tales of the glamorous consulting lifestyle and the relaxed tech culture – jet-setting around the world, staying in luxury hotels, or working from home in pajamas. This all boils down to one impression in people’s minds:
Consultants and IT professionals have cushy jobs;
They get paid $200k+ for this;
You can learn this in a few months of training and also travel the world or work from home for $200k+ a year;
But those of us in these industries understand that things aren't that simple. Either you really are getting top-of-market salaries because:
You're a great specialist, working for a top-tier firm or tech company, or in a highly specialized niche;
Or you graduated from a top MBA program or prestigious tech school and landed a coveted spot at a well-known firm or startup.
Or you've completed some training courses and realized things aren't as rosy as they seemed. Or you've been in consulting or IT for a while but don't fall into the group earning the market average, and probably are even below it.
The Real-Life Hiring Process
I remember the case, we were looking to hire for two positions: a strategy consultant and a software developer. We made it clear in the job descriptions that we're a firm offering both strategy consulting and IT solutions. We described our projects and mentioned the experience we needed. We also listed competitive starting salaries.
Guess what responses we got? The vast majority of applications were irrelevant. For example:
We needed consultants with strategy experience, preferably in tech strategy. We got responses from people who had only done operational consulting in manufacturing.
We needed developers for our advanced software team. We wrote in the description what programming languages and frameworks we use. But most of the responses came from people with basic coding skills, and their salary expectations were far below our starting offer.
You might wonder why I gave this example: if you're truly qualified, you have a real shot. The flood of irrelevant applications makes it challenging for recruiters, but it also means that genuine talent stands out. So, if you have the skills and experience, don’t be discouraged by impostor syndrome – your expertise most probably won’t go unnoticed.
Strategies for Long-Term Growth in Tech and Consulting
I believe these patterns we discussed above persist in both consulting and IT because many people:
Lack of Strategic Career Planning
Many professionals in tech and consulting operate on autopilot, moving from project to project or job to job without a clear long-term vision. This reactive approach can lead to a plateau in skills and earnings. Instead, consider:
Setting 5-year and 10-year career goals—where do you want to be, and what kind of problems do you want to solve? It may sound trivial, but it can truly transform your career.
Identifying the skills and experiences needed to reach those goals.
Regularly reassessing and adjusting these goals as you progress and as the industry evolves.
Failure to Adapt to Industry Evolution
The tech and consulting landscapes are constantly shifting. Remember when mobile development was the hot new thing? Now we're talking about blockchain, robots, and quantum computing. In consulting, the rise of data-driven decision making has transformed the industry.
If AI didn't come to mind here – consider this a warning. The rapid advancement of AI is reshaping both tech and consulting. To stay relevant:
Stay informed about emerging technologies and methodologies in your field;
Attend conferences, webinars, and workshops to learn about cutting-edge developments;
Experiment with new tools and techniques, even if they're not immediately applicable to your current role;
Consider how AI might augment your current work, and position yourself accordingly;
Underestimating the Importance of Continuous Skill Development
What you know today may be obsolete tomorrow. Yet, many professionals become complacent once they reach a certain level and continue relying on the ideas they learned 5-10 years ago. To avoid this:
Dedicate time each week to learning. This could be coding in a new language, exploring a new consulting framework, or diving into a new business domain.
Seek out challenging projects that push you out of your comfort zone.
Consider pursuing relevant certifications or advanced degrees that align with your career goals.
Develop your soft skills alongside technical skills. Communication, leadership, and problem-solving are always in demand.
Neglecting Network Building
Your network can be as valuable as your skill set. Many opportunities in both tech and consulting come through personal connections. To build a strong network:
Attend industry events and meetups;
Engage with professional communities online (LinkedIn, GitHub, etc.);
Consider mentoring junior professionals or being mentored by more experienced ones;
Collaborate on open-source projects or write articles to increase your visibility in the industry.
Failing to Understand the Business Side
Technical skills alone aren't enough. Understanding the business impact of your work is crucial. To develop this:
Take on projects that expose you to different parts of the business.
Learn about financial metrics and how your work contributes to them.
In consulting, try to be involved in the sales process to understand client needs better.
In tech, engage with product managers to understand user needs and business goals.
Planning your growth trajectory in consulting or IT is crucial. It helps with job searching and income growth because you'll know which direction to develop in and what exactly to change. Instead of just "doing more cases" or "learning something new," you'll be strategically enhancing your professional toolkit.
Remember, the goal isn't just to chase high salaries, but to build a fulfilling career where you're continually growing and adding value. This strategic approach to your career is what separates the top earners from the rest.
This is my take on why not everyone in consulting and IT earns those high salaries you hear about. These industries are constantly changing, and if you don't evolve with them, you'll likely stagnate. But for those who plan strategically and continuously upskill, the rewards can be substantial.
The critical factor that separates high-achievers from the rest is their willingness to push out of their comfort zone. It's not just about learning new skills; it's about deliberately seeking challenges that stretch you beyond your perceived limits.
Remember Dr. Maxwell and her marker-capping moment? That simple act represented years of pushing himself to understand group dynamics and master subtle influence. He didn't get there by staying comfortable.
Whether you're in consulting, IT, or both, the key is to stay adaptable and embrace discomfort as a sign of growth. Take on projects that scare you. Speak up when you're not 100% sure. Apply for roles just out of reach. Until next time!