“I found my mentoring session with André very helpful, particularly because I came into it with very little understanding of commercial banking. My background is in life sciences and healthcare, and most of my career exploration so far has focused on consulting. Although I had become interested in commercial banking, I had not previously explored the area in any depth. I therefore needed a clear starting point and an honest conversation about what I should understand before deciding whether to pursue it.
André helped me establish that starting point. The session gave me a clearer way to think about commercial banking, how it differs from consulting, and what I still need to learn. Before the conversation, I was looking at opportunities and wondering whether I should begin applying alongside consulting applications. Afterwards, I understood that I needed to take a step back and make a more informed decision about whether the work genuinely interests me.
One of the most valuable aspects of the session was how it helped me recognise the gaps in my current understanding. I knew that I was new to banking, but I did not necessarily know which questions I needed to answer for myself. André’s guidance helped me think more clearly about where I am now, what I am missing, and what I should begin doing next. Having that direction was useful because it made the process feel more manageable. Rather than treating banking as a broad and unfamiliar industry, I now have a clearer starting point for learning about it.
A particularly helpful message was that I should first develop a better understanding of commercial banking and assess whether I actually like the work. I took away a sensible sequence: understand the area, decide whether it appeals to me, and then, if it does, commit to learning and preparing for applications. If I discover that the work does not suit my interests, I should be willing to recognise that and focus my efforts elsewhere. That advice sounds straightforward, but it was an important perspective for me at this stage.
The conversation made me realise that I should not rush into applying for commercial banking roles simply because I have found programmes that look interesting. Before the session, I was at risk of moving too quickly from curiosity to applications without having a strong enough understanding of the career itself. André helped me see the value of being more deliberate. I would rather make a considered application based on a genuine interest in the work than spend time applying to positions I cannot yet explain my motivation for pursuing.
Another important takeaway was recognising how substantial the differences between banking and consulting can be. Because consulting has been my main focus, it had become my reference point when thinking about other careers. The session helped me realise that I cannot assume banking will involve similar work, suit the same preferences, or require exactly the same preparation. I need to understand banking on its own terms rather than view it mainly as another option alongside consulting.
I also appreciated that the session was useful even though I did not finish it with a final career decision. At this exploratory stage, greater clarity about what I do not yet know is meaningful progress. I now feel better equipped to evaluate my interest, identify what I need to learn, and decide whether commercial banking deserves a more focused place in my career plans.
Overall, André was very helpful, and the session met an important need for me as someone starting with limited knowledge of the field. Its greatest value was giving me direction and encouraging a more thoughtful approach to my next steps. I left with a clearer understanding of my knowledge gaps, a more realistic perspective on the difference between banking and consulting, and a better sense of how to move forward before committing to applications.”
Oliver Wyman is a highly reputable consulting firm, often considered the fourth most prestigious after MBB (McKinsey, Bain, and BCG). While it is smaller than MBB, it is not a boutique firm and is known for its strong presence in Financial Services and, to a lesser extent, Healthcare. Beyond financial services, Oliver Wyman has diverse exit opportunities, including FANG tech companies and roles in middle-market private equity (MM PE), making it a solid choice for career growth.
Tips to Succeed at Oliver Wyman:
Reputation and Performance:
Oliver Wyman is performing well, with 97.2% overall employee satisfaction and 97.7% professional growth opportunities as of September 2023. Compensation is competitive, and the firm is known for its tough hours but rewarding culture. It is prestigious and highly regarded by prospective employers, making it a strong platform for future career moves.
In summary, Oliver Wyman is a reputable firm with strong exit opportunities, particularly in financial services and tech. To thrive, focus on mastering core skills, seeking feedback, and leveraging your strengths.
Sources: 5 years ago, I was fired from Oliver Wyman. This is what I learned from it., 5 years ago, I was fired from Oliver Wyman. This is what I learned from it., Oliver Wyman Reputation, Should I move from Oliver Wyman to BCG?, Capital One or Oliver Wyman
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I was there almost a decade ago, loved it... worked for two great partners, had friends from my start class at my wedding, set me up for a good job in PE after and a top business school. Definitely reputable, you'll get some eyebrows long term for not having the MBB pedigree, but c'est la vie. Don't worry so much about it, it's a big firm, try to find some growing practice areas (you can ask your staffer or partners what service lines are fastest growth, that's fine) and ride the wave until you decide you're good.
how was recruiting for PE from the firm? were you specialized in a particular area like private capital or in a generalist role?
Private capital. Although I will say if I were to do it over again I'd do private capital for 5-10 diligences and then do some operational / strategy things as well. Diminishing returns... Although having a great relationship working under one partner for years was great... can't discount that so hard to say...
Overall, I view OW as the best of the T2. Incredibly strong in FS, as you know, with capabilities and areas of expertise far ahead of any other consulting firm. They are also doing quite well in the Middle East, despite the market slowing down these last few years.
They acquired Avascent a few years ago, which was a strong A&D-focused boutique consultancy. I'm not sure how that acquisition has played out, but I would imagine that has been a growth area over the last few years. I know they are also trying to grow more in the PE advisory space , but the MBBs and a few other T2s like LEK are still better positioned than them here.
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