Oliver Wyman - Pay and lifestyle?
Specifically their financial advisory and general management consulting divisions. How is the pay, lifestyle, travel?
Specifically, their financial advisory and general management consulting divisions. How is the pay, lifestyle, travel?
Oliver Wyman Salaries
Oliver Wyman offers one of the best compensation packages in management consulting. In the 2018 Consulting Company Reviews. The question in italics notes the question asked during the assessment.
Time off
Management support for needed time off?
- Oliver Wyman ranked 8th out 95 firms.
Work Life Balance
Employer support in balancing between work life and personal life?
- Oliver Wyman ranked 13th out of 95 firms.
Most Average Hours Worked
How many hours do you work on average?
- Olver Wynman ranked 17th for most average hours worked at 63.6 hours.
Want to see how your firm stacks up against other top consulting firms? You can view more compensation data and company reviews by accessing the 2018 Consulting Industry report.
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Pay is amazing, travel is to good cities, and lifestyle is pretty nice I heard.
They pay WAY above street at junior levels. Senior levels, not so much...
Don't know about lifestyle, but reputation is definitely top-tier. They pretty much lose top candidates only to M/B/B.
how much could a first year BA expect including bonus?
The firm flys consultants home each Friday, where the day is pretty casual and ends with drinks at 4 (for the FS practice).
At least according to the Vault Guide, the former MOW was paying ~65-70% of base salary as year end bonus. That would put the all in compensation right around 95-100K.
That bonus number sounds way off, way too high.
It's accurate. That's why I said they pay way above street.
why do they pay so much more than m/b/b?
any other firms that pay that much?
Because they have a very focused practice: financial firms. Of course, they don't charge nearly as much as M/B/B. They don't have the same perks M/B/B consultants have and they don't pay for grad school. Plus, higher comp for junior people means lower comp for partners and the like.
Part of it may be brand equity.
It seems like pay all around at MOW was above average. I don't have the "gold access" or whatever for Vault.com but it looks like in the compensation survey Managing Partner salary was ~500K and one guy made 1.5MM in bonus. I'm not too familiar with the pay structure in consultancy but it seems like this firm pays a lot more than the M/B/B. Then again the exit ops are probably much more limited. Seems like a great firm for someone who wants to pursue being a partner and not be 2 years and done.
Vault surveys are notoriously unreliable. Plus, I know for a fact that Oliver Wyman partners don't nearly make that much on average. I'd say that partner is the exception rather than the rule (if even that!).
Check the Vault boards for Oliver Wyman. They're very insecure over there and often send junior analysts and even PARTNERS and DIRECTORS! to troll for the firm on their boards - rather crass behaviour.
Plus, think about it, they don't charge as much as M/B/B and don't have that wide of a client base. They can't really pay more than they take in.
What kind of work does Oliver Wyman's financial service consulting practice do and what is the career progression like? How much do their directors typically bank and are there good exit opps, i.e. on par with M/B/B.
The FS practice generally deals with clients like insurance companies, retail banks etc. I'd say insurance companies are a huge part of their practice. Although financial consulting sounds sexy, Oliver Wyman isn't exactly consulting hedge funds and PE groups exclusively. In fact, McKinsey and Bain are much better if you want to go after the big PE clients.
The exit opps are pretty decent. Mostly into financial firms, not much breadth. Not at M/B/B level, but decent.
would an internship with them be good for ib offers?
After the merger, how much did the firm change? Like in terms of pay, culture, etc. It seems like it's the same firm, just with the other two practices integrated under one name.
I heard that the OW FS consulting practice (from MOW) doesn't pay for the MBA but that the general management consulting practice (from Mercer MC) does. But isn't the FS consulting practice the same as the general MC practice, except the former just does the strategy/management consulting specifically for financial institutions? If what I heard about the tuition reimbursement is true, why is one practice paid while the other not, especially considering they're under one name now?
... the fs side of ow is specialized and doesn't really hire mbas - they let analysts get into project management pretty fast, often after 2-3 years. comp, similarly, is higher in the fs side (bonuses of 50-80% vs 20ish% at general strat). a lot of this culture is from the legacy mow (owc before that) business. on the other non-fs side, it's more like m/b/b (legacy mercer) - a lot of mba hiring... generalists across all industries... it's difficult to bring analysts to a management position in such a setting within 2-3 years. also, legacy mercer (non-mow) culture has the traditional mba hires coming in as associates and moving on to manage projects.
it's really a toss up which one you choose - if you're committed to fs, go for ow. if not, maybe keep your options open with mercer. culturally, they used to be different, although i'm not sure how much that's converged by now. the money, especially at the beginning, shouldn't be affecting your decision.
Oliver Wyman - Consider a position at the firm (Originally Posted: 08/20/2008)
Hi guys,
I am considering a position at Oliver Wyman and I would like to know what kind of reputation this consulting firm have out there. Does any of you know people that work at OW? What are their thoughts on the work environment / organizational culture? Are the compensation packages competitive (above/below market)?
Any input would be much appreciated.
Thanks,
BradZ.
are you thinking about general management consulting (formerly known as mercer management consulting) or financial service consulting (formerly known as mercer Oliver Wyman)?
He is clearly talking about Oliver Wyman.
Comp is highest of any consulting firm, rep is solid but it will be a tough sell to get out of FS.
one helpful thread below if you do a search....
http://www.wallstreetoasis.com/forums/oliver-wyman-financial-services
Thank you!
Does any one know about the exit opp of Oliver Wyman( Financial services)? What are the chance to switch to MBB or BB bank after working there for 2-3 years after an IVY undergraduate?
It's claimed on their postings that "95% of Oliver Wyman applicants gain admission to one of their top three choice business school programs." but I am really curious that what kind of B-school does ppl really get into? what's the percent of HBS, Warton,Stanford? Thanks a lot!
i dont think their bschool placement is that great, but i dont really know. i think a lot of people there just dont go to bschool at all...
Hey guys,
I met an associate a few weeks ago and he told me that typically, consultants got into the top-10 bschools after 4 years at OW. He mentionned Harvard and Wharton. Can somebody confirm this piece of information? I was really impressed.
That's pretty believable. xqtrack- what are you talking about?
heard massive capacity issue with OWFS NY. Think delayed start to January.
yes, that is true, massive capacity issue and counsel outs everywhere - a sinking ship
Top consultants 2-3 years in have left for middle market PE or smaller hedge funds.
as a former OW consultant I can tell you that it is VERY difficult to get out of FS and transition into PE, hedge funds, Asset Management. I felt very lucky when I did it, but do keep in mind that very few people succeed in transitioning into the above-mentioned fields (maybe 3-4 ppl/year, and very few of these go to prestigious PE/hedge funds/asset management firms). OW FS has no reputation out there, either good or bad, since most PE firms or hedge funds haven't even heard of the name. So if you're worried about exit opportunities, OW FS is NOT the best career choice for you. Go for MBB or investment banking!!!
Probably a fair assessment.
actually, i think going into pe is going to be much easier for OW consultants in coming years...while theyve gotten hit hard in a lot of divisions, their PE due diligence business has skyrocketed because there are so many distressed financial firms that pe funds are looking to buy, and ow has a natural pitch to be the diligence leaders (and has been winning major mandates).
and while there have been capacity issues, my understanding was that counsel outs were restricted to support staff, although who knows...
I saw on their website that one of their entry level analyst got a chance to go to antartica which I thought was wicked.
Ling~
I can't think of any good reason why going to Antarctica for a case would be in any way appealing.
Penguins.
Igloo Investments.
Duh?
that's friken hard core Private Equity DD right there. Every legit PE professional needs Antarctica execution experience
I went from OW to a middle market LBO fund. It was a piece of cake. I felt like I had instant credibility with most of the top recruits (except for SG Partners) and got interviews with funds straight out of the gate (including some 10B+ funds). OW is definitely behind M/B/B in terms of exit opportunities but not as far behind as many people still believe because the firm has grown so much in recent years. When I run a CapIQ search of OW alumni I find a lot of us at funds of all sizes.
Comp/work/benefits are on par with M/B/B. If you get M/B/B then you should take it - but if not then OW is your next best bet.
spinner, were you in FS or the general mgmt arm (ie former mercer)
former legacy mercer management consulting
the rest of this thread was actually about OWFS...i think the PE exit opps are a lot harder from there.
i know about as many legacy OWFS people as MMC people who are now in PE. the FS side actually works with a lot more financial services companies (duh) and has a good brand in that space. that said - since i didn't work with them i really can't say for sure.
Stay away from OW Corporate Risk Domain. I believe they were spun off from FS. North American Managing Partner of CR is an unethical bully. Yells and screams like a child.
Old Mercer Mgmt Consulting peeps are more sane. Smart group. I even know of a few staff who were sent to Harvard, and their tuitions were paid by the firm.
FS generally do not encourage MBAs. Even heard that it's discouraged.
Anyone in the states who took the test recently hear back?
Since it's been a while this has been brought up - how are the exit opps and bschool placements of OW as of late? How is that going to change now that FS and GMC have merged into a generalist pool?
For b-school, seems pretty solid to me... I'm pretty sure I could get into any school outside of Harvard/Stanford. I think OW is a very solid bet for major US schools and then INSEAD/LBS as well because of OW's strength in Europe.
Still worse odds at H/S than MBB.
From what I've seen as a current employee they're pretty good. Tough to access that directly honestly, but I've seen people go to Top 5 and haven't really heard of anywhere else. Not to mention they're sponsored to go
Bump. Recently got an Associate offer for OWFS.
You just bumped a thread from 2008... Follow this link for a recent discussion: http://www.wallstreetoasis.com/forums/thoughts-on-oliver-wyman
Oliver Wyman & Travel? (Originally Posted: 01/15/2014)
Anyone have any information on this? I heard that the policy is pretty good (instead of flying home you can take the money as pay or fly your other half out) but equally I have read old threads that suggest there's a lot of economy class and low quality hotels.
Does anyone know whether this is a) true and b) important as I gather with their global staffing model there can be a lot of travel? Any insight would be appreciated, thanks.
I interned with OW over the summer in and spent the summer on a long-haul project so might be able to shed a bit of light for you.
First thing to note is that traditionally OW had different travel policies for the FS and GMC sides of the business so that could be why you hear conflicting stories. Now they've merged the two sides they've taken aspects from both sides and consolidated it into a single policy.
That said, the policy seemed to be very generous and treated me well when I was there. Briefly it is: - Business class on long haul projects (flights over 6 hours) - On a short haul project (
Very thorough and I was curious as well about Oliver. Thanks!
Thoughts on Oliver Wyman? (Originally Posted: 08/04/2015)
Can anyone give me insight on life at this company? How are the projects? Culture? Expense policy? Prestige compared with MBB's / Big 4?
Did a search but didn't find any recent threads about it.
About prestige is a good second tier consulting firm, just below MBB ;)
Bump, just got a post MBA offer from them.
Good firm, great pay, good people (the ones I've met at least).
Projects tend to be largely in FS, specifically risk.
I'd personally take OW over the Big Four; it might be a toss up for me with Deloitte S&O, but overall in that general ball park right below MBB. Just me though.
If you didn't get into MBB, OW is probably the best strategy consulting offer you can get. As the others said, prestige is great, a notch below MBB. Compensation and expense policy is traditionally among the best in the industry. They save a bit on the perks, however. The people I have met from them are very smart and your exit options are also very good. However you won't find the strong firm loyalty and professional alumni placement that you find for example at McKinsey.
I have been trying to break into OW for a while now... Great firm, great people, amazing expense policy, and an excellent array of projects (some that still focus on strategy). I'd say go for it.
Bump, just got a post-MBA offer from them so I'm highly interested in the community's take on the firm. I'd be joining their FS practice. Any thoughts on the potential for exit opps outside of financial services?
From my understanding, their strong practices are FS (heavy weighting), airline and healthcare.
That being said, I've seen alumni in everything from high tech to private equity, to non-profit work. Similar to most firms, exit opps are quite varied.
Mind sharing how you got the interview/offer? My understanding is that they don't usually hire MBAs.
tds2006 looks like a shift in strategy driven by the industry. They posted their Associate job listings to my school (Top 10 US MBA Program) CDO. I interviewed with ~7 people and landed the offer.
As a current OW employee; - I've see OW go head to head with MBB on strategy work - Mostly strategy work, probably an 80/20 blend of strat/ops - Although work is heavily dominated by FS, OW has a strong presence in Aviation, Retail and Healthcare - Work tends to be very 'expertise' driven, meaning it's highly analytical, very senior client audience, rather academic - Great comp, compared to my friends at MBB, OW offers more starting out of undergrad and matchs MBB at the Associate (post-MBA) / Manager levels - Very young firm, lots of folks tend to come straight up from undergrad (Harvard, Penn, Dartmouth) and without needing an MBA the overall consultant body probably skews on the younger side, especially compared to McK / BCG which do more post-MBA hiring - All in all, not as strong a name across all industries, but a very strong name in the industries OW competes in (sort of a be the best/expert or don't show up at all)
There exists a substantial difference between MBB and OW in continental Europe on all of these points.
Oliver Wyman is definitely not on par with MBB in Europe. In Germany (#3 global consulting market) and France they are considered one of the weaker T2 actually - behind Roland Berger, Strategy& and AT Kearney. In terms of brand they are almost unknown.
Oliver Wyman is strong in FS but elsewhere their footprint is rather limited, they are a bit stronger in UK due to the stronger position of the financial industry there.
Thoughts on Oliver Wyman/ (Originally Posted: 03/07/2016)
Last thread on this topic was a while ago and I wanted to see if anyone else had any insights. Received an offer and just wanted to get a better feel of how they're regarded in the consulting industry.
How many rounds did you have ? Case interview detail ?
OW was my top choice after MBB
I'm signed up to start at OW. I've read and heard great things and really clicked with the people I interviewed with. What are your alternatives?
I'm signed up to start at OW. I've read and heard great things and really clicked with the people I interviewed with. What are your alternatives?
These types of questions are answered best when on a relative basis, so as others have said - what are your alternatives?
Objectively --- good people, top-notch comp, decent brand, lack of diversity in work (mostly just a risk/stress-testing shop...i would bet ~50%+ revenues come from that type of work)
Interested as well. What is their stance in Europe?
I have a phone interview (HR) tomorrow morning and would appreciate some input as well.
I've never interviewed at a consulting firm before and I don't have experience with case interviews which I'm sure I'll get bombarded with given the nature of the business...I'm a little worried but I'm not an idiot, would anyone be able to roughly outline what to expect during the entire OW interview process? I plan on looking at as many case studies as I can, not sure what else to do.
Oliver Wyman FS - Travel much? (Originally Posted: 11/01/2010)
Hey guys, first post here, but been reading a lot for the last 3 weeks and this seems like an amazing forum. I had a question. I just got a job offer from Oliver Wyman's FS practice, with the job being in Singapore.
Any idea how much travel I might have to do? I know most people on the forum are US-Based, so perhaps some US perspectives would be great to hear too. Thanks!
Sorry, forgot to mention - I'm joining as a Consultant right out of UGrad. Thanks!
I know someone in the NYC office of Oliver Wyman FS, and he said you can expect to be traveling around 60% of the time.
How about you just ask HR instead of just wasting your time here readng the responses of ppl who aren't even in finance/consulting
OW - Reputation? (Originally Posted: 12/10/2010)
Hey everyone. Just wanted to know the word on the street for Oliver Wyman (FS). What's its reputation like? I ask because I've heard a lot of conflicting stuff. I've heard the pay is great, but the work is dull. I've heard that you get staffed in great cities, but I've also heard you get sent to back of beyond places. I've heard the exit opps in FS are good, and some say they suck.
Would love to know what people on here think, what they've heard/seen, etc. Thanks!
Compared to what? MBB are going to be better opportunities then OW I'm pretty sure. But if it's OW versus tech consulting for Accenture, OW is probably better. Everything is relative. OW exit ops are going to be pretty good, regardless, if you do a good job.
what about Booz (& co, not ha) vs OW?
I don't mean compared to MBB, I just mean in general, what are people's thoughts about OW and what do you guys, may of you industry insiders, know about the firm? And yes, hearing about Booz's rep would be interesting too...
OW is legit. trust me, you get great comp and its an elite firm. if your looking to go into mba after, it should open many doors
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