EY-Parthenon vs. Alvarez & Marsal

Hi all,

I am deciding between the two offers; EY-Parthenon's M&A Strategy practice (legacy OTS) and Alvarez and Marsal's (A&M) Private Equity Performance Improvement practice. This will be my first FT job after graduation.

Similar office locations available (US), while starting compensation is quite similar but most likely will be more on A&M's side after a few years. Honestly not sure how long to stay in consulting for or what I'd want to do after consulting, but I have considered working in a PE operations team or a strategy/corp dev role for Fortune 500.

Thank you in advance.

Comments (3)

Sep 30, 2019

I think Parthenon wins here. It has a much stronger brand and I imagine the pay is much higher. Not sure how the re-org with OTS will work out, but Parthenon takes it regardless.

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Most Helpful
Sep 30, 2019

I fully disagree here. I used to work at both firm although in the restructuring field but was heavily exposed / worked with PE teams at both.
1) With the total comp model based on billable hours A&M typically pays way more - not sure where the other person is getting their information from (at A&M in a good year your bonus can amount to multiple X of your base)
2) On average my impression was that people at A&M were of much much higher quality and of higher seniority (e.g. many partners from EY would not even qualify as partners / would look very junior in comparison to some of the partners at A&M). In case of A&M a lot of people are senior operators from the industry or PE firms as opposed to career consultants I found at EY-P.
3) EY PE teams had much more focus on desktop DD work vs. greater focus on post-deal value creation at A&M. This too me is a huge differentiator. I see DDs rather as a commoditised field that does not really teach you how to run or improve the business. Post-deal work is really where the action happens and my view is that this knowledge would provide you with far better exit opportunities vs. high level desktop work.
4) This maybe an impression only but I found A&M to be working with a far greater number of the big mega-funds vs. EY-P.

From my experience this would be a no brainer and I would easily go for A&M.

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