Examples of Internal Consulting Groups
What are some names and examples of internal consulting groups at American companies? I’ve heard of in-house consulting arms at companies like American Express, Citi, and P&G. I these groups have become commonplace in business. Looking for further insight on the role they can plan within a company and some examples of names for the groups.
Usually called "Corporate Strategy", sometimes might be rolled up into the "Corporate Development/Business Development" Group (which also handles internal M&A).
Disney Corp Strat is generally considered a top group and also has the M&A function in it. Pretty tough recruiting process, generally hires from Ivies and UCLA. That group is considered a top exit opp from MBB, to give you an idea of how competitive it is.
How is the recruiting process for tech, i.e. Google or Facebook? Is it as tough as Disney Corp Strat?
Top tech like Google, Facebook would probably be easier than Disney or Amex
Capital One has an in-house consulting arm called the "Capital One Strategy Group" that recruits pretty much exclusively from Brown, Georgetown, Harvard, Yale, and Princeton. Based out of McLean and Boston.
my buddy works at the tysons HQ and is apart of the Cap1 strategy group... he went to gerogia tech. He basically advises the CEO/CFO quarterly making all the decks to present to shareholders etc.
I'm familiar with the strategy roles at Google and Capital One. Both companies have a cross-firm consulting groups -- BizOps at Google and Corporate Strategy at Capital One. They also have strategy teams aligned with individual business lines (Ads, Hardware, YouTube at Google; Card, Commercial Bank at Capital One). Both types of teams are filled with ex-consultants. The work in the cross-firm groups is closer to consulting work in that they just go in, make some decks, and move on. The group-specific teams have more ownership of the work itself and are held to actual results.
Most well-run tech companies (such as Facebook) do not have corporate strategy divisions. Everyone does and has ownership of strategy; the product managers do strategy, the engineers do strategy, sales & marketing does strategy; hence no need for a dedicated strategy group. Consulting skillset is most useful in old, slow and bureaucratic organizations (i.e. most of F500 companies)
Source: ex-consultant and ex-Google/Facebook; many former coworkers in corp strat across F500
(I know you said most), but Microsoft does have a Corporate Strategy division, but I guess many wouldn't consider them a well-run tech company.
Microsoft gets a bad rep. It's not Google or Facebook and is certainly more of a cash cow at this point, but they've basically doubled their market cap since Satya took over.
In the grand scheme of things, they're a pretty well run company.
The Internal Consulting departments I have seen/heard of were more closely aligned with project management than strategy. In my personal opinion (and please tell me if I am wrong), the work is more similar to non-strategy tier 2 consulting (e.g. Deloitte non-S&O, ACN MC) than what you would do at an MBB or within a pure strategy group elsewhere.
The opposite applies to Corp Strat groups (such as Disney, AmEx, etc.). In this case the work you're doing is strategic consulting with some banking elements (M&A) included. The main difference between that and an MBB boils down to industry focus versus generalist approach, but having some deal perspective is a good plus.
Exit opps-wise, I am pretty certain prestigious Corp Strat groups beat most other IC groups.
Source: 4 friends in IC in Western Europe; 3 friends in Corp Strat in the US
Hey. I am going into a Corp Strat internship in a few weeks for my country's second largest bank (Wells Fargo type of bank). I will contribute with some competition analysis, market analysis, and ad-hoc analysis for the parent company and its subsidiaries, and possibly some valuation (not M&A, maybe IPO?). I will also have an individual project where I am going to find a product strategy regarding investments for the company, simply helping their Asset Management department how to make more money. What kind of work is this? Is this typical Corp Strat or non-strategy tier 2 consulting?
Sounds like a healthy mix, to be honest. If the individual project is serious, structured and ends up being implemented that will probably give you a decent idea of Corp Strat / strategy consulting.
BNP Paribas has been recruiting undergrads for their internal consulting group in NY. They have 2 groups: CIB(Corporate and Institutional Banking) consulting, which is more strategy based, and Operations Consulting. They have OCR and posting at a few target schools. I had a superday with them, didn't get the job but liked the group and people. They are pretty small, maybe like 20 people? but trying to expand quickly.
How are they viewed in terms of exit opps? Are they highly respected or well-known?
I'm currently working for an internal consulting team at Credit Suisse.
Internal Consulting at CS is pretty fragmented. There is no specific dedicated team for Group strategy. Each of the business divisions (e.g., IBD, Global Markets) have their own teams. Apart from business specific teams, there is another small team that looks after strategy of basically anything non-business related (IT, Ops, Risk, Legal etc) and reports to the Global COO - and this where I work.
Most of the people I work with are a mixture of MBB (10%), Deloitte (60%) and PwC/ EY (30%). Given the current climate for European Investment Banks, most of my projects are cost reduction and rationalization related. Hope this helped.
Solid contribution and consistent with a lot of what I heard. SB'd.
How difficult is it for non S&O resources at Deloitte to break into Corp Strategy roles?
I feel like 90% of your comment history is some form of "can I go from Deloitte BTA to strat???". Quit spamming the forums, your questions have already been answered multiple times.
I work on an internal consulting team at AmEx. Here is the summary:
Strategic Planning Group: this team requires an MBA from a top school (besides Analyst level) via campus recruiting, and the team develops high-level projects that are presented to the CEO.
Enterprise Strategic Initiatives: evolving firmwide strategy team - aligns senior stakeholders, assesses operational efficiencies, manages a Joint Venture etc. Individual backgrounds include both corp dev and strategy. Team reports into Vice Chairman.
Business Strategy Execution: this group will go into various business units on a project basis, so it is almost like the business leaders are the clients. Projects vary in length. No defined background requirements.
Hope that is helpful for anyone considering positions and getting confused at the differentiation.
What are the in-house consulting arms at Citi and P&G called?
Consumer&Market Knowledge Analyst
Dude that's P&G's market research team. Hardly would call it consulting - the brand managers decide what they wanna do with each brand / product
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What Is An Internal Consultant? (Originally Posted: 09/09/2010)
Hi,
I was wondering if anyone has heard about internal consulting groups within companies and can offer insight as to what they do, how to get in, and all those details? I tried a search but couldn't really find anything, so sorry if this is a stupid question/already been answered.
Pretty simple....internal consultants act very similar to third party consultants (i.e. McKinnsey, Deloitte, etc). The main difference is since internal consultants are part of the company, the often see projects through beyond implementation of the solution (i.e. through all stages of the cycle). In other words, internal consultants have more skin in the game since they work for the company and can't just vanish after the engagement is "complete".
Hmm that would make sense. However, how does one earn the title of "consultant" then? I mean, if you're seeing basically the whole project through and are hired by one company, how do you really differ from any other employee? I guess maybe you're a "consultant" in that they only seek your time (and thus only have to compensate you) on special occasions, but aren't you virtually just another employee who is just more highly paid and more specialized then?
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