Big4 Sentiment for Management Consulting
Hey all, just recently got an offer to join KPMG's Advisory business. Not sure what to make of it. Anyone have any inputs regarding to how the firm is positioned right now in the consulting world? It's pretty late in the cycle for full time, so I'm considering taking this offer. What are possible exit ops from going through KPMG's consulting track? What about the chances of lateral to a better firm (potentially for strategy)?
Thanks in advance guys, appreciate any help!
assuming you are class of 2019, would take this for sure (extremely late in the cycle)
KPMG is a respectable place to land and has solid standing. The work may be more implementation / execution-oriented than the that of T2 or MBB firms, but you'll still work at world-class clients and get some solid experience.
Good luck!
KPMG is solid and has a strong brand. There’s really no difference between the Big4 - people lump them together.
Now the BIG difference comes in the group within KPMG advisory. If you are In KPMG Strategy then your exit opps are basically anything you want (other than the big PE shops). If you are in risk consulting or implementation then it gets much more narrow and difficult, but with a lot of effort you can find attractive exits to Faang, Corp strat, product management, or b-school.
KPMG Advisory, like the similar practices at all of the other Big 4 firms, runs a wide gamut. Are you talking about their strategy consulting shop? Forensic services? Corporate finance? FDD? Marketing solutions? HR consulting? The work that they do and the positioning of each part relative to other firms' offerings varies drastically. The CF team does investment banking advisory work, so it does the exact same stuff Evercore or Moelis do, but goes for the low end of the middle market space and doesn't compete with the EBs/BBs at all. Their Strategy team does the same work as MBBDALEKOWblahblahblah, and even wins the occasional piece of work against even MBB let alone the others in a beauty pageant (KPMG is on the cheaper end, obviously). Forensic or FDD/TDD teams are top of the line, which is hardly surprising when you consider how valuable an accounting background is to these specific types of consulting.
How much do you know about forensic practice? What are exit opps? Compliance I assume?
Probably. No idea what the exit opps are like there.
Unsure about KPMG, but EY's Parthenon is well-regarded from what I understand. I'm sure KPMG might have a team that's similar, so I would gravitate towards that within the overall Advisory line of service.
The team most similar to EY’s Parthenon would be the Strategy team which does commercial due diligences and growth strategy.
What's your next best alternative? The other folks have given good insight, but if you're about to graduate and this is your only offer I think the choice is pretty simple.
I wonder two things about B4 consulting:
1, I think the promotion path has one more level in B4 consulting. What I see in traditional MC firms, the MBA hire's promotion path is Consultant - Manager/Case Leader - Principal - Partner, while in B4 consulting, the path is Consultant - Manager - Senior Manager - Director - Partner. I feel it takes longer time to be a partner at a B4 MC arm.
2, EY Parthenon tends to pay less bonus. Is it true?
Thanks.
1) Senior Manager and Director are the same, but different firms use different names. They are the Big 4 equivalent of the Principal role. And then some Big 4 firms call their (equity) partners Principals, at least in the US, because of some rules around only CPAs being allowed to be called Partners at an audit firm.
It is true that it can take longer to hit Partner at a Big 4 firm, but it's possible to do it at the same rate as you see at MBB (2+2+2+2 post-MBA, e.g. at BCG it's 2 Consultant, 2 PL, and soon to be 2 Principal + 2 Junior Partner, before making full/equity partner). There's just more variety at the Big 4, and less of an up-or-out culture, so you're far more likely to see people spend 3 or more years at a given level. You can even kinda sit at the SM/Director (Principal equivalent) level for years if you want to.
2) Yes, Parthenon bonuses are smaller, but their base is higher, so total comp is market. Post-MBA base at Parthenon is something like $170 or $175, compared to $150ish for most other shops. MBB only recently (within the past year) moved up to $165 base, so I expect that the market will adjust upwards soon enough and Parthenon's base should go up even more, but yes, bonuses are probably going to remain relatively small.
I know PwC redid the structure - now both senior manager and director exist. If there was no director in that practice, now there must be a director level, which is above senior manager. I am not sure about the other Big 4 but I assume either it has happened or it is going to. Yep, only CPAs can be "partners" but I know you got that point.
Alias sint odio repellat dignissimos nihil. Laborum asperiores sapiente repellendus quaerat numquam nihil. Rerum at non veniam nesciunt rem. Qui voluptatibus fuga asperiores praesentium pariatur dolores quibusdam.
Dolorem aut ab laboriosam repellendus esse. Libero omnis animi qui dolores dignissimos in. Asperiores aut officia fugit labore.
Ea deserunt libero ut deleniti ut. Quo dolore sed numquam consequatur animi. Nihil voluptatibus reiciendis porro accusamus omnis consequatur cumque.
Quia praesentium incidunt voluptates reprehenderit totam. Dolore nostrum ex quibusdam repudiandae et.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...