Hi guys,
Just wondering if anyone knows the different titles/levels at OW FS and how long it takes to move through each one?
As an example, at Deloitte its: Business Analyst -> Consultant -> Senior Consultant -> Manager -> Senior Manager -> Partner, and it's 2-4 years between each level until Manager, and then 3-5 years between each level after.
Thanks.
Consultant -> Senior Consultant -> Associate (post-MBA level) -> Senior Associate (manager) -> Associate Partner -> Partner
No idea on timeframe, but OW does pride itself on a consultant -> partner track without MBA glass ceiling (I've heard secondhand anywhere from a 8-10 year timeframe).
Thanks man. That's really helpful. Any ideas on salary ranges at each level? Also if I were to lateral over after getting the manager title here, what level do you think I would enter at?
If you don't mind me asking, why are you considering switching to OWFS?
Well, apart from more money and better overall reputation, they have a lot more of the work I find most interesting at my current firm, and a lot less of the work I find least interesting here.
Would you say Deloitte has less control over project staffing? Sounds like you are SC or M level. Even then, I'm guessing you don't get the FS clients you are looking for? Also, I've heard PRD at Deloitte can be a bit of a drag.
I wouldn't say that to be honest. I have a fair bit of say regarding which engagements I choose to get staffed on (I'm an SC btw and will be M by the end of next year). The problem is that sometimes the work I want to do just isn't in the pipeline. Even within FS, I find that there's a lot more retail banking than capital markets work here. I'm much more interested in capital markets and Asset Management and have a pretty strong academic background for it due to my financial engineering degree.
At OWFS, they believe in Consultant straight to Partner model. But, for the purposes of clients and staffing, the following are the designations:
1) Consultant 2) Senior Consultant 3) JM (Job Manager) 4) SJM (Senior Job Manager) 5) Partner
This. OW also recently introduced a subdivision of senior consultant for staffing purposes.
Chron3k just made that up.
http://www.oliverwyman.com/ow/1315.htm
He didn't make it up. He was just referring to the general management consulting arm.
Minor derail, but does anyone know how OWFS compares on travel to more standard management consulting gigs?
LOL yes moving on from the jelly-related arguments - lots of travel buddy.
LOL
well projects are more likely to be in major financial centres so depending on where your office is you may have a very good chance of getting projects at home. I know two people who've worked at OW FS in London for about a year and haven't yet had to travel.
That being said, OW uses an international staffing model and there aren't that many offices, so you're pretty likely to get a project in, say, Turkey, or South Africa, for example.
I am in Asia Pacific, and there's a lot of travel here. But yes, if you're in OW FS in New York, you travel a lot less.
Anyone know the general travel situation for OWFS Toronto?
They have an OWFS Toronto? They're not hiring though right?
I just checked online. It seems that they're hiring "experience consultants" for FS, and entry level for GMC right now.
Would I have a better chance going OWGMC->OWFS or industry->OWFS?
Industry-->OWFS. By a long way.
And more specifically, financial services industry. Given the specialised model, people without relevant experience can only join as entry-level.
Does "financial services industry" include commercial banks, credit card companies, regulatory agencies etc? Or specifically IB?
OW FS has a bunch of different domains of work:
1) Corporate and Institutional Banking 2) Retail and Business Banking 3) Finance & Risk 4) Insurance 5) Public Policy 6) Wealth and Asset Management 7) Strategic IT & Operations (new, growing arm)
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