Does anyone have a list of companies with internal consulting groups?
I was just curious to see which companies have internal consulting groups. I know that every company has a corporate development/strategy department.
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Isn't corp development/strategy the same thing as internal consulting? What would be the difference?
To offer one example, AT&T has a group called "Strategic Initiatives." It is heavy on supply chain and operations strategy but also does some growth-oriented work. I was told by someone in the group that the work used to be done by McK consultants and AT&T made the decision to build out the capability internally instead. Take that with a grain of salt but it seems plausible enough... PepsiCo is another company that comes to mind as having a similar arrangement
To address the point above from CCPD: yes, internal corp strat/dev and an internal consulting group are generally the same things. While some companies may have one or the other or assign these groups varying labels, this is generally a distinction without a difference.
Agree. Generally, need consulting, banking, or PE experience to get into one of these groups, although not all. I would guess that most of the S&P-500 companies have an internal strategy group and several others outside the S&P.
Wolfy - Is there an industry that you are looking at? I think the larger the firm, the more likely the firm is to have an internal strategy group. At a start-up, it could be one guy.
Thank you so much for the info. I'm not looking into a particular industry, but I've been reading up on the type of work that is done within these groups and it seems like something I would absolutely enjoy. From my understanding, they do similar work as outside consultants for a company, but they get to see the solutions and how much they benefit the firm going forward since you are still employed by the company. I've been checking out many fortune 500 companies, but many don't seem to have entry-level positions. If you could offer any strategies in order to break into these type of roles I would definitely appreciate it.
Strategy consulting, IB, PE, or strategy at another firm is usually listed under the preferred qualifications for these jobs. Not sure what another route would be and sounds like this might not be your current career.
You could target a T15 MBA and pivot as well. Still though, these job postings ask for the same pre-MBA work experience, but you could get into consulting or IB from an MBA and move from there post-MBA.
I work in a corporate strategy group (internal consulting) for a F500 company. I've worked in the group for several years since immediately post-undergrad with no prior consulting experience. Group is comprised mostly of former external management consultants. PM me if you'd like to discuss our day-to-day, structure, etc.
I don't think wolfy is recruiting out of undergrad and is eligible for one of these LDPs.
I was recruited into a F500 corporate strategy group after a couple of post-MBA years at a MBB strategy consulting firm. The work primarily revolved around supporting business units with their annual strategic planning/annual planning process, plus support for selected corporate strategy issues. Both the types of projects and organizational dynamics were different from my work as an outside consultant.
There was a separate Corporate Development team that focused exclusively on acquisitions. When these were related to an existing business unit, there was some high-level engagement, but very limited to preserve confidentiality.
You might also want to consider the internal portfolio groups that some of the larger PE firms run (Bain Capital, TPG, KKR, etc.) For junior positions, they draw primarily from post-MBA rising stars at top consulting firms, but no harm checking them out.
DM me if you'd like to discuss.
Zurich North America has one.
Thanks for the help guys!
Great question! For my previous job search, I wondered the same but did not find a consolidated list of these teams. They go by many names so I did my search based on key terms like strategy, internal consulting, project management, etc. Our team is called Transformation and Growth. We all have a masters even the associate. Almost everyone came from client facing backgrounds. We are top heavy as you need people with lots of experience. Leaders have experience that spans across many areas training & development, legal & compliance, M&A, IT, organizational effectiveness and strategy. It's fun and interesting work as we run projects that can/will have a huge impact on the firm's performance as they are directly aligned with our strategic goals. I have an MBA, was client facing, and have experience across lots of industries and areas. Technology is a huge focus of mine. Wish you luck!
Fidelity investments has a pretty well regarded Internal Consulting group as well. Most hires are from top MBAs or ex-MBB & Tier 2 consulting firms. Small undergrad presence as well.
are apps open?
I think their apps typically open in the early fall time, at MBA and undergrad levels
Have heard amazing things about the Capital One Strategy group, and everyone who isn't an entry level in the team seems to be ex-MBB. Their website says 90% of their members who go to business school also go to a top 5 program.
Yeah capital one strategy is legit
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