How is Oliver Wyman?
Hi, I am an incoming consultant at Oliver Wyman, I was wondering what practices are strong at OW for exits besides financial services. Any tips on how to succeed at the firm without being counselled out? Also how is Oliver Wyman doing (are they doing well or struggling?) and is it a reputable firm to prospective employers? This is for US offices
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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