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I have been reading a few articles talking about how FAANG isn’t as lavish as it used to be. My first question is if that is true? If it is true, my second question is what companies out there have the pay, benefits, and perks like FAANG? My last question is if it is as difficult to get into those companies? Facebook (Meta) Amazon Apple Netflix Google
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I can offer a broader PwC view. It's no secret that we've recently gone through layoffs and morale has been low; S& was not an exception. My observation has been that the quality of people (in terms of professionalism, experience, and attention to deliverable detail) is much better. I also get the impression we're being much more strategic and selective in hiring so not to fall back into being a "body shop". Personally, I question whether the S& brand is viable long term, but I think that if you're producing when you come in, you shouldn't be worried about another round of bloat then major layoffs. I wouldn't be surprised if there's another reorganization coming (usually comes in October), but you'll obviously be safe just having come in
Lol s3 that's exactly what s4 is saying .... But OP to answer your question, it really matters what sector of s& you're joining. If you're joining Health, you will be busy with pure strategy projects till the end of time. If you're joining FS, you will have a volatile journey at times.
As a wise McKinsey poster once said, of all the management firms out there, Strategy& is the undisputed #1. It even has strategy its title. There is "Strategy" & then there's everyone else
Would appreciate Serious responses. Thx.
Stay the fuck away
@Deloitte1, that was me!!! Small world 😂
To give a quantitative argument behind this, our headcount decreased 20%+ year over year. Does that sound like a firm you want to join? Me thinks not.
I would much rather join s& than pwc because you would learn a lot from the s& partners and do more interesting work when you're staffed.
Booz and co cut people after 6 months rather than a year during "pulse checks"
Guys - seems like S& folks are not on same page reg/ their firm. Tough times ! I've decided to stay in at Deloitte until the vesting picture is clear at S&. I'm still attracted by the talent at S& though. I somehow feel that I will resonate more with S& culture than a far less bright (yet type A) but highly political Deloitte culture. Many folks at M-level are from target B-schools. Definitely a much better & competitive talent pool than at Deloitte.
Though it may be trending in the wrong direction, there is no doubt about the quality of the talent at s&. Young associates are wickedly smart and hard working, and managers (whether you click or not) will all be smart and hard working as well, personalities and working styles aside. I continue to be surprised by how stupid and easy working i am in comparison anytime i meet someone new. Sorry you decided to stay put but do let us know if you are curious to hear of any first hand testimonies.
I believe S& is much more of a meritocracy than Deloitte. So if you're an average player, Deloitte is a better place to thrive. If you're a top quartile player, you'd feel a lot better at Strategy&.
Aah, ok..
Receiving a good bump in the base salary.
Look at the 5 year horizon and total comp, not just immediate base difference
Deloitte OP, are you s&o?
Tech Strategy
Op - I would stay away. Unless you want to live under the constant threat of getting laid off any time.
Also, I'm guessing you're joining FS, since we were the only practice that were actively recruiting outside help - we have a lot of people coming on the beach lately. 50% of our staffing is because of one big project. What do you think will happen when that project ends?
Just to add some perspective, our 20% cuts were not particularly abnormal for an up or out firm. In the Booz days we cut 10-15% every year. Then after PwC acquisition we cut almost no one for two years. So the 20% was actually largely due to a glut of underperformers that got to hang around while we sorted out integration.