Deloitte partners, I always hear that we “compete with MBB and win all the time” during recruiting but our 401k match is peanuts compared to industry. Can we revisit this policy...please?

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I have seen Deloitte in the marketplace exactly once. We bid an $18 million implementation phase for a go to market transformation, on which we did the initial strategy work, and then the go to market design. They came in at 2/3 the price and offered 50% more bodies. In the balance of price and capabilities, Deloitte was probably the right shop for the job. Our price point supports a certain benefit package; your price point support certain benefits package.

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D3: let it go. You sound silly. D is not MBB. Only Deloitians believe it’s in the same ballpark.

My Prius isn’t a Porsche. I don’t pretend it to be that way. It’s not to say I don’t believe in its virtue. I just don’t kid myself about the reality. No shame in what we are, only in pretending to be what we aren’t

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I doubt any partners have 10% equity.

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“Deloitte competes with MBB" 😂

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Good news, guys: SM1’s wife is a partner so he knows which of deloitte’s 3,135 US partners have a 10% equity stake in the firm

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No senior partner at D has over 10% of the firm. I’d be surprised if anyone had more than 0.25%.

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Partners at PwC are the same. The rollout of the new Senior Manager came as a surprise to our rank and file partners. Even significant new happenings such as the purchase of Booz didn't go to a full partner vote

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At pwc, the pension plus retirement match is equal to others that only offer 401k. If that’s similar at Deloitte, it’s prob solid. You have to look at the entire benefits package, not one thing in isolation.

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@D3, revenue per employee even amongst McK, BCG, and Bain isn't the same, plus how do you break down support staff required to make a high end strategy shop work, versus support staff for audit?

To BCG1's point the only way I've ever seen Deloitte effectively compete with us was by offering more bodies for less money. For implementations and long term PMOs it's often the right choice to go with more bodies for less money. We typically play different parts of the market, one isn't "better" than the other, just different value prop.

I have never seen Deloitte win for the same price, and the same number of folks. In fact I've never even seen that type of an offer against us because they know they would lose it

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Partners are just glorified employees at Deloitte. They have equity but it's the same thing as you buying stocks in the free market. Many partners hardly have much power or control over these higher level decisions that are really made by the senior senior senior partners. I.e. folks with over 10% equity in the firm. And even then, there's a fair amount of them around.

In short, partners are just glorified employees and they don't have much power over outcomes like this.

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Do they offer other types of retirement benefits? That’s how some companies get around a lower retirement match.

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Well ... fairly progressed in years. In career, MD. Much like any other, I run a small business inside a much larger business. Same as my friends at McK, BCG, or Bain

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Pension plan after 3 years

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Are there other types of investments they put into your account?

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fwiw ours are trash too 🤷🏽‍♂️

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For clarity ... Deloitte competes with everyone. I win my fair share against BCG and McK ... and I lose as well. Margin is what it is ... and we manage it well. Our competition has known working capital concerns that they manage - “differently”. None of this has to do with the 401K match or where the dollars are. The difference is stability in pay throughout career progression

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Many consultancies are poor at working capital management, paying out large dividends to partners, then requiring partner investments to deal with unanticipated liabilities (e.g. the very public Eskom fiasco)

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The consultancies owned by audit firms tend to have much more stable payouts with larger contributions to working capital as a hedge against natural volatility and risks

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I’ll also note that revenue per employee is very similar between the consulting arm of Deloitte and the rest of the MBB ... at the highest level, everyone makes about the same ... just different models for charging clients and different allocations between what is paid out to partners (and when) and what is paid to staff

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Funny. I’m guessing you’re a lot of junior folks debating a lot about an industry you barely understand ... all the while believing you’re super “strategic”. This is a relationship business. At a senior level, you do the work where you have the relationships, period. And most of that work isn’t “strategy”, no matter how that makes you feel

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