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M1 does have a fair point. I know quite a lot of very senior people from Big4 who got hired as an Engagement Manager as opposed to a Principal. They usually get promoted within the year but OW usually hires on the cautious side.
Other than that, it will be very important to bring client relationships with you. Even though Principals do not need to focus on selling (actually less than at other firms from what I hear) it will be quite hard to build these quickly. And that is super important to become/survive as a partner. Very few practices (eg F&R) require more of a content focus and less of client relationships but I would try to find out what the area you want to work in is like before you join
PSM does good work. External hire principals burn teams. I look forward to not working with you.
From Associate to Principal? That’s seems a steep jump!
Understand you are considering joining OW as a principal. Real question is, are they also considering hiring you as a principal? I am considering going to Mars, doesn't mean I will.
@M1 2 thoughts: 1) Hopefully you have better focus on the critical client question you are solving when leading your teams and 2) be more productive with your time and mine please? I'd really appreciate some objective thoughts.
Principals get burned pretty hard. If you don't have existing client relationships / sales skills good luck making partner (with the exception of F&R, where the work sells itself)
Our roles are different from your typical consulting hierarchy - I've ~10 years of experience. Hopefully the desire to answer my query is more compelling...
Your vernacular and attitude seem to be on par with being a principal so I say go for it!
SM1 - Dont doubt anyones abilities. Just because you couldnt doesnt mean noone else can!
F&R is the Finance & Risk practice where a lot of the work is driven by regulation (eg credit risk modelling, stress tests,...)
OW has a great culture - people genuinely help each other and want each other to succeed. We do high quality, rigorous work equal to or better than MBB. However, it will take a while to integrate. Most people are home grown, and there isn’t a single OW approach or style. Expect it to take 1-2 years .
OP, still keen on your background and skills?
@d1 I heard of a McK partner who did it in record ~6 yrs I think...still don't believe it.
Speaking generally (i.e. not specific to PSM), principals are typically staffed on multiple projects at once (which can lead to significant work life balance issues if you do not have any experiencing managing multiple engagements) or on a large project with many workstreams. If joining a new/growing practice, important to align with the individuals you’re joining to get a sense for how ambitious they are in terms of developing new business relative to where they are today and that may give you a better indication of what your life would be like.
@ow1 please say more... What do you mean by burned... Also, I remember being told there wasn't a strong focus on selling. I'm not worried about selling however, just making sure I leverage this platform in planning...
@op are you looking to join FS?
And OW1, what’s F&R?
@ow1 PSM..
@ow2 any thoughts?
What area are you looking at? What is your expertise?