EY FSO Advisory Typical Projects

Hi,

I just wanted to get a better idea of what types of projects EY FSO Advisory staff work on.

Some background: I received a internship offer from EY for next summer and have to accept it by the end of this summer. I am debating whether to accept this offer or deny it and chase an IB or S&T internship during spring recruiting.

I just wanted to get a feel about what type of projects FSO Advisory at EY works on. I don't want to just be doing the client's back-end regulatory work. I would rather be doing more strategic consulting (think Bain, or McKinsey) or S&T at a bank.

Can anyone give me their thoughts on these options?

EY FSO Advisory

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What about the skills that you gain while working for this group? Let's like at some of the input from our certified user.

from certified user @Emous"

Once the advice is given, someone actually has to do it right? This is where the operational work comes in, and can vary greatly. It could be integration/separation work regarding M&A. It could be an IT system implementation. It could be regulatory/compliance work. It could be HR related.

Now, strat is definitely generally thought of as the sexier side of consulting, but operational work is still extremely important. In fact, many companies today don't just want advice, they want results. This is why you see many of the MBB expanding greatly into the operational side (e.g. McK Solutions). The idea is to be a one stop shop. Provide the advice, as well as carry it out. This is why today in the market place you see a lot strat houses expanding down into operational work and traditionally operational consulting focused firms (like EY) expanding up into strategy.

At the end of the day, to be a successful consultant you have to do both. For you, you need to better understand the kind of work that EY does (so ask your contacts there). If there is at least some exposure to strat, it might be a good place.

from certified user @the_stig"

You can also get exposure to people very high up in your client's organization in the ops world - most engagements I've worked on, I'd be meeting with the c-suite on a weekly basis.

from certified user @Voco90"

Crafting your career needs to be a function of the future and where the market is heading; not just what has been seen of as successful in the past. The best S&O people I've worked with have had extensive implementation experience at some point in their career, and their clients have benefited greatly from that.


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I imagine EY would be more operational consulting work. Generally at the B4, there is a much smaller group that does real strat work and competes with MBB. If you are interested in that, I would look for that group (I work in this group at a B4).

S&T is very different from all of this. My advice is to figure out what you want first.

 
Best Response

So when I think of operational work, I just think of it as anything that is not strategy. Strategy consulting is very high level C-suite advice. How do we capture more market share? How do we save this segment of the business? How should we go about international expansion?

Once the advice is given, someone actually has to do it right? This is where the operational work comes in, and can vary greatly. It could be integration/separation work regarding M&A. It could be an IT system implementation. It could be regulatory/compliance work. It could be HR related.

Now, strat is definitely generally thought of as the sexier side of consulting, but operational work is still extremely important. In fact, many companies today don't just want advice, they want results. This is why you see many of the MBB expanding greatly into the operational side (e.g. McK Solutions). The idea is to be a one stop shop. Provide the advice, as well as carry it out. This is why today in the market place you see a lot strat houses expanding down into operational work and traditionally operational consulting focused firms (like EY) expanding up into strategy.

At the end of the day, to be a successful consultant you have to do both. For you, you need to better understand the kind of work that EY does (so ask your contacts there). If there is at least some exposure to strat, it might be a good place.

 

Strategy is going to be a jump up. Don't fall into a trap of thinking strategy consulting is the end all be all of consulting, or that it's that or bust. Talk to people in FSO advisory at e&y and find out what they do.

As Emous said, you probably need to think about what direction you want to go career-wise first and then take e&y, decline and go for strategy, or decline and go for S&T...

 

@"Emous" is spot on in his assessment. You can also get exposure to people very high up in your client's organization in the ops world - most engagements I've worked on, I'd be meeting with the c-suite on a weekly basis.

Strategy is sexy, but don't discount what you can learn on the operational side of things....

 

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