Director Vitaly Kolaev on his career journey

Sometimes it happens that a certain event affects our entire life. That was exactly the case with Vitaly Kolaev , Director at Yakov & Partners, when he got his first stipend and realized that he wanted to figure out the banking sector in detail.

Where did you study? Did you have any idea at that time about the sector where you wanted to build your career?           

I graduated from the School of International Economic Relations at the Moscow State Institute of International Relations (MGIMO). When I was a student, I wanted to work in the financial sector. This is almost exactly where I ended up; the only difference is that my role in the sector is associated with consulting.

Tell me about your past experience. Which positions did you hold and which tasks did you manage?

Prior to joining Yakov & Partners, I was Head of Project Delivery in the Data and Services area for the Mastercard international payment system in the CIS. Basically, those were predominantly the same consulting projects focusing on the use of company data, models, and processes. I was responsible for project implementation quality, team building, and revenue and margin targets.

When did you realise that you wanted a career in consulting? What influenced your choice?

I learned about consulting accidentally. When I was a senior, my fellow students told me about this promising sector and about cool companies providing consulting services. I applied for internship with McKinsey and was selected. Thus, most of my career has been in consulting.

How did your career path develop in this sector? Why did you choose to specialize in banking?

I have worked my way up from intern to Director in consulting, but I set my sights on the banking sector back in September 2003 when I was a freshman and received my first bank card with a stipend of RUB 400. There was a long line waiting next to my bank’s ATM, so I went to find another bank’s ATM. I did not know at the time that my bank charged a RUB 90 fee for each transaction via another bank’s ATM, whether for cash withdrawal or balance check.

I requested RUB 400 from the ATM. It responded that I did not have sufficient funds on my account, so I asked how much money I had. The ATM responded that I had RUB 310. I thought there must have been a mistake, yet I requested RUB 300. The “insufficient funds” error appeared again. I asked again how much money I had. The ATM showed that I had RUB 220. This was when I realized that I wanted to have a better idea of how the banking sector works.

Why did you choose Yakov & Partners? What is so appealing about your work here?

Yakov & Partners is the best choice for a career in consulting in Russia. Here you can grow faster than anywhere else. In addition, you have a very good team here that helps you learn fast. And obviously, an entrepreneurial spirit that sets us apart from any traditional consulting companies.

What are your current tasks as a Director?

Currently, I have three major tasks. The most important one is to build partnerships with our customers in the banking and payment sectors, look for growth opportunities for such companies, and put these opportunities into life. An equally important task is to build the corporate team and expertise. And obviously, to do interviews about my career path. :)

Why may working in consulting appeal to experienced professionals?

There are a number of reasons. First, you can try your hand in a different sector or functional area. Second, if you are willing to continue growing in your area, but feel like your professional growth has plateaued, working in consulting will help you discover new horizons. And last but not least: this is just an excellent opportunity to test yourself!