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Product Management at a large bank vs Business Analytics/S&O for FAANG? Recently started in the former role, but have interview calls for the latter just come up in my mailbox. Similar comp when adjusted for the different job locations. Can anyone help me with the Pros and Cons please. I know the roles are different, and so are the industries, need to understand difference career paths and difference in corporate cultures. JPMorgan Chase Google LinkedIn Citi
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Generally it is split to risk, advisory and management consulting at big 4. Risk being more about compliance work, advisory more on financial centric process improvement, and then management consulting which can further split to practice.
Within management consulting there is strategy work which is done by the strategy arm like strategy&, Parthenon, and strategy &ops; then there is more capability centric consulting like ur operations etc. Lastly there is the implementation side.
When it comes to people saying strategy, and differentiate m&a or market valuing is more like a competency within strategy; tech strategy is also strategy but following the tech capability.
Was also confused before I joined as experienced hire.
Thank you for this thorough explanation! Truly helps me understand the terminology.
1. There’s strategy, technology, advisory, transformation, etc. The industry creates few new words every now and then.
2. Yes. Lot of people do all these work.
3. Why not, if you have the right skills, connect correctly and jump.
That helps a lot, thank you!
These terms have been butchered by Big4 and others to upcharge resources and help in recruiting. To (at least my) MBB: Strategy is one practice where questions like 10 year plan are determined. Meanwhile the rest of the work is not “strategy” but includes things like customer (how do I grow? To which customers and with that products?), ops (where do I place my factories? What do I buy vs. build internally?), org (how do I structure my company?). So while other practices might be working on strategic questions, it’s not “strategy”.
Now when I was at a Big4 we called the entire thing above “strategy” because it was “strategic” and we never even did the work my current company calls strategy.
So this partly depends on what you want to do. If working on interesting issues I highlighted in non strategy is good enough, then there are lots of places to do that work.
Interesting, noted. Thank you for the explanation!