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Anyone else delayed in Term A at LGA?
CAIA vs CFA?
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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.
The better indicator is promotions. And we continued to promote a strong volume of candidates.
S&4, stop lying, that's not even true. I've been at the firm for a year and 20% of my start class is already gone, many of them were forced out.
Joining Financial Services. They're giving me an option of legacy PWC as well. Do you guys think that may be a better choice given volatility at Strategy&? Off course, there'll b brand dilution but the future of strategy& is unknown anyway
^ If and when you're staffed. And did you hear about our new mandatory utilization targets?
Been at Booz before the split. That's BS. We didn't cut kids until the 2 year mark.
Was at Booz before the split as well as Booz and co after the split. Our business and operating model changed entirely.
Guys - I understand that op model has changed and future of strategy& is uncertain. But let's come to terms. For someone with a target school MBA and exp in IT Strategy, there aren't too many consulting options available - McKinsey BTO, BCG Advantage, Deloitte TS&A, Legacy PWC, and Strategy&. Other firms are either too small or aren't in thick of things when it comes to tech strategy. A manager at Deloitte who doesn't want to go step down in other firms, so McKinsey & BCG are out of question. They aren't willing to hire me at the M level. That only leaves me with either PwC / Strategy&. Comparatively, Strategy& still has much better talent pool vis-a-vis both Deloitte TS&A and Legacy PwC. Deloitte & PwC are selling Staff Aug projects in the name of "IT Strategy". So it doesn't leave me with too many options. Do you guys agree / disagree?
Primary Reasons for wanting to leave Deloitte - 1. excessive focus on execution / PMO rather than any sort of strategy. 2. Low to No senior management interaction on the client site 3. Star performer (rating of 1) but still lower BASE salary jumps due to weird normalisation technique of the firm
S2- can we be more accurate here so we are not confusing OP? There is no mandatory utilization target. There is a minimum utilization target to be considered for a 1 or 2 level bonus (out of five total levels). This is a new stated requirement this year. Understandably, that has some people nervous and up in arms about it. But if you look at the actual target numbers themselves and historical data, something like 70% of our staff met those goals naturally in previous years anyway. So 70% of our staff would be eligible for a 1 or 2 bonus. That's already more eligible people than there are slots to go around... it is not an unreasonable goal. If anything it actually protects against the unreasonable advocacy of someone who had 10% utilization but their RP is making a bullshit argument why they deserve a 2 (and bumping someone down who is more deserving).
Thx S& 4. I'm looking for such insights to make the decision. I'm aligned to FS. I think, those who are in IT Strategy & want to do consulting will be inclined to stick to Strategy& / PwC even after the vesting. The primary reason being there aren't many options available in the market.
OP, so to address your reasons for leaving Deloitte: 1. I'm in FS and it was communicated to us that we are going to do much more execution / PMO in the future. "The industry is shifting to this type of long engagement work" as was said in our Town Hall.
2. This is simply a mere byproduct of PMO work. Very related to my #1 point above.
3. Not sure what the manager payscale is at S&, but SAs here saw a 3% base increase ($5K) year over year. After tax, this does not even beat inflation. And we didn't get $500 gift cards either.
You're at manager level so I think it depends what your goals are. Do you want to do more strategy work for 1-2 years then exit? If so, the move makes sense. If you want to be a partner, it might be challenging to come in as a manager, but it's certainly doable
Booz & Co cut people earlier in bad times because we didn't have the financial stability of PwC. So everyone complaining about people being cut a full cycle in... well (1) that's better than Booz days and (2) welcome to strategy consulting - up or out- you complain about this and yet you wonder why we can't be more like MBB. Smh.
This is not up or out. The 20% number is a loss in total headcount numbers, not people cut. If 1000 people were at S& last year, and 800 are at S& this year, why is the loss in HC due to job cuts not even close to being covered by the increase in HC from our new hires? Simple math, smh I expected more from this firm.
S4 - last time I checked, the exit process in "up or out" was very very different at MBB. Do they have same day terminations? No. Do they get feedback indicating they aren't on track for next level? Yes. Do they get support finding exit opportunities? Yes. I didn't benefit from any of it and that's not what I signed up for as "up or out" culture. Even the severance I received was crap. My friend at BCG got counseled out around same time and I envy the support structure they have in place while managing out.
S3- you just aren't working with facts. Get the right facts before trying to apply math. And plus you guys are all arguing different points.
S2- agree our exit process sucks ass. I wasn't arguing that. I'm saying people are complaining that people are getting cut after a year at the firm. Guaranteeing people two years of employment is not realistic or prudent. And was never a precedence at any firm. Period.
Yeah S&4, what are your facts? You sound like Donald Trump. A lot of fluff, no numbers. My "facts" are from HR, buddy
No need to debate this in a semi public forum. Keep going with your "facts"- but they're not credible and your representation of this will hurt the firm. Maybe that's your objective, who knows. And sure- we can't be too specific in an open forum and maybe that makes me sound like Trump. But it doesn't make you any different just because you were the first to draw such an association. You want to have real constructive dialogue, let me know. But I have been in three CRTs and fought our PwC partners first hand with respect to counsel-on's and bonus rationale. Last two years have had a 20% attrition target because 2014 was almost a 0% forced attrition. And as I said, we are making many calculated risks on promotions which is very encouraging. And reloading the hiring pipeline. Maybe less than years past but that's not the point.
And the 20% attrition included voluntary. So the forced counsel-on was between 12-15% for most verticals.