KPMG Strategy offering more and a level hike from Strategy&
Hello - I'm currently a Manager at Strategy&, have a good track record and in line to get promoted to Director next year, assuming I don't do anything really stupid.
In the meanwhile I have had KPMG reach out to me for a Director role with a decent 20%-25% bump in my base. Talking to the partners and ex-booz folks at KPMG, the impression I get is generally everyone's happy with the move.
My concern is around a) the small size of the firm b) brand value - they are pretty honest about the fact, thats its not a separate brand, the focus is to leverage strategy arm to win additional longer implementation projects. I have not yet decided if I want to stay in consulting for the long-run or leave in a couple of years for an industry gig.
Overall, I like the fact that instead of acquisition they are building the group organically, but there also major challenges with regards to existing staff's talent to deliver on strategy projects.
Any thoughts, inputs is much appreciated
Regarding b), do you think S& will undergo a full consolidation into PwC such that it'll chage its own strategy?, I mean, focusing on selling implementation projects for PwC rather than doing pure strategy work.
Being said that, as long as S& remains separated from PwC I will choose them, as in terms of prestige are not comparable and they do "pure strategy" kind of work. Regarding the likeable promotion to Director at S&, are salaries comparable to what you've been offered at KPMG?
Regarding the statement "focusing on selling implementation projects for PwC rather than doing pure strategy work," all firms are trending towards this direction. Even MBB is starting to setup their firms like this. My firm definitely is - I work in Strategy and, while I certainly do pure strategy engagements, my firm is trending towards encouraging partners to transition work to the implementation teams wherever possible. I'm not saying any firm will ever move to setting up their value prop 100% in line with this reasoning but this trend shows no signs of slowing down.
In terms of OP's original question, if you're going to definitely make Director at S& in a year and can tolerate the atmosphere then stay. If you're looking to jump into industry you'll have a much vaster alumni network to leverage. KPMG's limited strategy experience will definitely hurt you there.
Holybanker - The goal for now is to retain S& as a separate brand but who knows what will happen in the future.
The bump in salary is 20 to 25% more than a director pay in S&
S& will never undergo full consolidation. At the very least not in the next ten years.
Actually it is the inevitable. In some geographies, such as Southeast Asia, Strategy& already exists only as a "brand", similar to Monitor Deloitte, and it really is just PwC Strategy.
Can't you just ask S& to match the offer, or atleast guarantee promotion and salary increase?
S& will not match, there is a clear pay structure for Director 1,2,3. Regarding promotion guarantee, all signs point to it based on last appraisal but I don't think anyone can guarantee it.
The challenge in my mind is more money, better title right away, its a growing pain they have much like a startup, coming in now and assuming I enjoy it and decide to stay, would it make the path to partnership faster.
S& I am pretty sure the path to partnership is going to get longer and more convoluted then what it is today
Seems like you've made up your mind to move. Good luck!
Would love to hear what you decided. I worked with KPMG Strategy this past summer as an MBA intern and had a highly positive experience. Not sure if I am going to be back based on competing offers.
@M6A1H7" I have a friend who is in his first year of b-school (just outside M7 but still a great school) who is looking at KPMG Strategy right now and going through in interview process. If you don't mind sharing, what was the FT offer (ballpark)?
@Canadiens16 salary was slightly below top firms, but signing bonus was near industry leading (might be boosted by having previously interned though).
Others have commented well on the various aspects of this related to career progression, but I would just urge you to consider how severe the challenges are with existing staff's ability to deliver on projects. I tend to weight day to day satisfaction with my work much more heavily than other factors, but as I'm sure you have experienced, I think it would truly suck to be leading projects with a crappy team that can't deliver. To me that would far outweigh the excitement and ego boost of leveling up faster and getting paid more, unless there is some specific and substantial way in which the additional salary is improving your life.
That's a risk no matter where you go. I'm at a top non-MBB strategy group and I've had some absolutely amazing, top-performing, fun teams full of state school fellas and some absolutely terrible teams of HBS/Wharton/Kellogg MBA's. I would actually worry S& has loads of low-performing teams due to attrition post-merger...
That's fair. Thought it was worth highlighting, though, given OP explicitly raised that as a concern with the KPMG team.
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