In the coming weeks, I will be leaving Deloitte S&O after just under 2 years on the job, to join the corporate strategy group at a retailer. Since this forum was very helpful to me as I was seeking jobs in consulting, I thought I would give back by candidly answering questions about consulting and/or my experience at Deloitte. Will try my best to answer any and all questions, but will not provide any information that will give away my office location.
My background: US News Top 15 University, Econ Major, 3.9+ GPA, did an internship at a boutique consulting firm before joining Deloitte
Exit Opp from Deloitte Strategy and Ops
The OP shared the following detail about their exit opp from Deloitte.
My job at the retailer will be as a Strategy Analyst. Responsibilities will be fairly similar to those as an analyst in consulting (data analysis, modeling, developing presentations). I will be working on strategic growth initiatives (likely exclusively organic growth) but I will be following projects through from strategy to execution. There will also be some element of managing the relationship with consultants on certain projects. Retailer is in the lower half of the F500, and is pretty well known, but not in the leagues of Wal-Mart, Macys, JC Penney etc.
Why Did I Leave Deloitte Strategy Consulting?
The OP shared the following insight on why they left Deloitte.
Didn't really make a conscious decision to leave. I had casually explored a few opportunities before this one came up, but had decided not to seriously pursue them. Late last year, I got a call from a headhunter about the retail job, had enjoyed my prior work in retail, so I decided to go forward in the process. Ended up liking the people I met through interviewing, liked the city the opportunity was in, and thought it would be good to get some experience outside of consulting before b-school.
It was definitely a tough decision, and if this particular opportunity had not come my way, I would likely have stayed at Deloitte until business school.
How Does Exit Opps Recruiting Work with Headhunters
Can you go into a little more detail about headhunters reaching out to you? To what extent do your projects/clients affect your exit ops? That process has always been understandably opaque from the outside.
The OP shared:
I had headhunters start reaching out to me ~6-8 months in and have had roughly 2-3 contact me per month since then, mostly through linkedin. I think that keeping an up-to-date linked in profile (including cleansed descriptions of my consulting projects) helped me there. The majority of those reaching out were pitching positions that I would not even consider (i.e project management, or in a bad city), but every now and then there would be one that I would explore further.
I think that the projects I have been on have been pretty important in the opportunities that have come my way. I don't think that it is a coincidence that I have done 3 retail/CPG projects and ended up landing a retail gig. It certainly helped a lot in interviews, and I think it is likely what drew the headhunter to my linkedin to begin with. That being said, you can be pretty liberal with what you put on linkedin.
Salary Differences Post Consulting
Salary went up by ~25%, and a expect that my per hour salary went up significantly more than that. I attribute that to several factors, including the fact that I am moving to a more expensive city, I would get at least a 10% raise from Deloitte in September, and that I am forgoing b-school sponsorship. I made the retailer aware of all these things throughout the process, and was pretty happy with the offer that came back. They made it clear that it was a best and final offer, and I didn't negotiate except on some finer points (relocation assistance, start date etc.).
In general, I think that you can expect somewhat of a pay bump when you go corporate, but then your salary will not have the same trajectory as it would in consulting, especially if you are a high performer (10-20% raises annually). Basically, unless you are an incredibly sexy company, you have to do something to pull talented people off of an attractive career path such as consulting. Giving an initial pay bump is one way of doing this, as is offering a better work/life balance. For me, since I expect to go to business school in a few years anyway, this seemed like a pretty good deal.
What Does Deloitte Do?
You can learn more about the work of Deloitte Strategy and Operations below.
Work Balance in Deloitte S&O
How much would you say your work was strategy vs. operations or implementation? I've heard some people say the work at Deloitte is extremely operational but some say there's been a lot more strategy work with the Monitor acquisition.
The OP shared the following insight:
I got a good opportunity to work on both types of engagements, about 50/50 in terms of the time I have spent at Deloitte. The strategy work was a lot more interesting, but it also tended to be much worse in terms of hours (16+ hour days, as opposed to 8-10 hour days).
I had to hustle and prove myself to get on the strategy projects that I worked on and a strong network within the firm as well as good internal references are essential in getting on interesting strategy projects. I certainly know folks where the balance was a more like 75/25 or even 100% implementation work. That being said, I do think the strategy opportunities have expanded a lot with the monitor acquisition, as it essentially doubled the size of the strategy practice.
Read more about Deloitte on the Wall Street Oasis Company Database.
Read More About Deloitte on WSO
- Deloitte Advisory Vs Deloitte Consulting
- Time To Get Results From Deloitte First Round Interview
- Q&A: Deloitte S&O -> F500 Corp. Strategy -> M7 -> MBB
Need Help Preparing for Consulting Case Interviews?
Land at an elite consulting firm with the most comprehensive case interview prep in the world. The WSO Consulting Interview Prep Course has everything you’ll ever need to land the most coveted jobs.
Consulting Case Interview Prep
What is your job going to be within the retailer's corp strat group? What is your job title there? Responsibilities? How big / well known is this retailer?
My job at the retailer will be as a Strategy Analyst. Responsibilities will be fairly similar to those as an analyst in consulting (data analysis, modeling, developing presentations). I will be working on strategic growth initiatives (likely exclusively organic growth) but I will be following projects through from strategy to execution. There will also be some element of managing the relationship with consultants on certain projects. Retailer is in the lower half of the F500, and is pretty well known, but not in the leagues of Wal-Mart, Macys, JC Penney etc.
When did you decide to leave and what was your process for deciding what was next?
why'd you move?
Didn't really make a conscious decision to leave. I had casually explored a few opportunities before this one came up, but had decided not to seriously pursue them. Late last year, I got a call from a headhunter about the retail job, had enjoyed my prior work in retail, so I decided to go forward in the process. Ended up liking the people I met through interviewing, liked the city the opportunity was in, and thought it would be good to get some experience outside of consulting before b-school.
It was definitely a tough decision, and if this particular opportunity had not come my way, I would likely have stayed at Deloitte until business school.
Salary difference?/How did salary negations work?
Salary went up by by ~25%, and a expect that my per hour salary went up significantly more than that. I attribute that to several factors, including the fact that I am moving to a more expensive city, I would get at least a 10% raise from Deloitte in September, and that I am forgoing b-school sponsorship. I made the retailer aware of all these things throughout the process, and was pretty happy with the offer that came back. They made it clear that it was a best and final offer, and I didn't negotiate except on some finer points (relocation assistance, start date etc.).
In general, I think that you can expect somewhat of a pay bump when you go corporate, but then your salary will not have the same trajectory as it would in consulting, especially if you are a high performer (10-20% raises annually). Basically, unless you are an incredibly sexy company, you have to do something to pull talented people off of an attractive career path such as consulting. Giving an initial pay bump is one way of doing this, as is offering a better work/life balance. For me, since I expect to go to business school in a few years anyway, this seemed like a pretty good deal.
how much would you say your work was strategy vs. operations or implementation? I've heard some people say the work at Deloitte is extremely operational but some say there's been a lot more strategy work with the Monitor acquisition. Would be really curious to hear your thoughts. Thanks!
I got a good opportunity to work on both types of engagements, about 50/50 in terms of the time I have spent at Deloitte. The strategy work was a lot more interesting, but it also tended to be much worse in terms of hours (16+ hour days, as opposed to 8-10 hour days).
I had to hustle and prove myself to get on the strategy projects that I worked on and a strong network within the firm as well as good internal references are essential in getting on interesting strategy projects. I certainly know folks where the balance was a more like 75/25 or even 100% implementation work. That being said, I do think the strategy opportunities have expanded a lot with the monitor acquisition, as it essentially doubled the size of the strategy practice.
Thanks a ton for doing this, I'll be joining Deloitte as a post-MBA senior consultant this fall. Can you go into a little more detail about headhunters reaching out to you? To what extent do your projects/clients affect your exit ops? That process has always been understandably opaque from the outside. Thanks again.
I had headhunters start reaching out to me ~6-8 months in and have had roughly 2-3 contact me per month since then, mostly through linkedin. I think that keeping an up-to-date linked in profile (including cleansed descriptions of my consulting projects) helped me there. The majority of those reaching out were pitching positions that I would not even consider (i.e project management, or in a bad city), but every now and then there would be one that I would explore further.
I think that the projects I have been on have been pretty important in the opportunities that have come my way. I don't think that it is a coincidence that I have done 3 retail/CPG projects and ended up landing a retail gig. It certainly helped a lot in interviews, and I think it is likely what drew the headhunter to my linkedin to begin with. That being said, you can be pretty liberal with what you put on linkedin.
Speaking of the Monitor acquisition........
What made you choose Deloitte over MBB, particularly what makes Deloitte strategy different?
Didn't choose, just didn't get an offer at MBB. While I bear no ill will towards Deloitte, I definitely think you would be pretty nuts to turn down an MBB offer for Deloitte, based on what I have heard from friends at MBB. That being said, I think the experience is similar enough at Deloitte vs. MBB that someone who would enjoy/succeed at Deloitte would do the same at MBB and vice versa.
Hi. Thanks for doing this. I have 4 questions, if you don't mind:
1) I always wondered why such a high percentage of management consultants end up going to MBA after 2-3 year stint in consulting out of college. For you on personal basis, what are your reasons for wanting to pursue an MBA degree, and what career options would you ideally want out of MBA?
2) Curious about the GPA cutoff of Deloitte's S&O recruiting at analyst level. Typically, for first round interviews at college OCR, is there a minimum GPA cutoff that Deloitte S&O imposes?
3) I will most likely be joining Deloitte's Tech Consulting division upon graduation this May. I don't really have particular interest in technology nor tech consulting as a long term career. Is there any chance at all that I would be able to lateral into S&O within Deloitte after working at Deloitte's BTA program for 2-3 years? Or, is doing an MBA my only realistic option of accomplishing that goal?
4) Regarding working with head hunters - do they usually contact you via LinkedIn? Did you have to 'network' with headhunters at all, or did they automatically approach you with opportunities?
Thanks in advance.
1) I would want to pursue an MBA because it is a great chance to reset my career, potentially explore new options (i.e. entrepreneurship, finance), and make a lot of great connections with folks that will ultimately be very successful in business. Beyond that, it is a ton of fun, and you come out making good money and with an impressive name on your resume that will open a lot of doors. That being said, an MBA is pricey, and after leaving Deloitte, that will all be out of my own pocket. While I think I am likely to pursue an MBA, I will definitely do a more rigorous cost-benefit analysis before investing the effort to apply.
2) Very hard to get a look without >3.5, unless you have connections.
3) Hard, but it happens. You will need to work hard on networking with S&O peopleYour best bet would be to get staffed on a project where Tech and S&O analysts are intermingled, and find yourself a role where you are reporting up to a partner or senior manager from S&O. Kick ass in this role and they might be willing to help you make the switch. These projects are relatively common, I would look for SAP implementation type projects, with a strategic or process redesign element to them.
4) See response to the question from Niubi.
Apologies for hijacking the thread, but wanted ot touch on the transfer question.
@Rejected Monkey As a former transfer to S&O, I can answer your question with a bit of experience. I actually transferred from the audit practice, so I can explain my experience while also detailing how it's a bit different than transferring from Tech.
For background, I trasnferred after about 1.5 years in audit. Moving to S&O from audit is incredibly rare. I was the only person in my start class to do it, and I don't think anyone in the class above me did it either while I was there. It's not necessarily rare because it's so difficult to do, which it is, but more because auditors often don't want or think to do it. I think this worked as an advantage to me because when I was networking, those that I talked to were not inundated with requests from auditors that were working on joining S&O.
Basically, as OP said, you have to establish relationships with Senior Managers and/or Partners. My strongest relationship was with Senior Managers, who then worked with their partner contacts to pull the transfer throughl. The other thing that I can't stress enough is to work the transfer process backwards so that you have a strong pull coming from S&O before anyone knows of your intentions. At least in the audit practice, they don't want you to move, so they will often block a transfer or make their intentions known that they want to keep you. However, if you already have partners on the other side advocating for you, it will typically go through (I have seen that in my case and others).
Now, the advantage of going from Tech --> S&O is that you'll likely have direct exposure to S&O personnel, which I never had. However, because of that fact, and the fact that it's quite common for Tech to want to switch to S&O, my impression was that Managers and Partners simply wouldn't deal with it unless they really, really wanted someone. As such, and again to echo what OP said, you will have to become an asset that the Managers want to work with so much that they're willing to go to work for your transfer. This is doable, but can be difficult.
There are some other good ways to form these relationships, but essentially, you have to have someone go to bat for you at the partner level, and to do that, you'll have to really outperform.
Wow didn't know you transferred. From audit -> S&O -> Tuck is pretty damn amazing :D props
So I'm a little late to this AMA, but I have questions for BGP2587 and OP!
To OP, in your office, was it as rare for an auditor to make a transition from audit to S&O? To Both, how did you guys get to your decision of wanting to get into consulting? and specifically S&O? To BGP258, can I pm you with specific questions? I'm getting into audit, but just explored and found the world of finance and consulting...!
Sorry this is my first post! Just found WSO!
Feel free to PM.
As for how common transferring from audit to S&O is/was, my first response is extremely rare. In my ~2.5 years at Deloitte, I knew of one other person that did it. Now, there is a big difference between rare because it's impossible and rare because most don't make the effort or fail to go about doing it the right way. A lot more people I knew that did transfer out of the audit practice went into FAS and did either forensic accounting or something like transaction advisory stuff.
As for why consulting, basically all the standard reasons applied for me. Specifically for why I wanted to move into consulting from audit, it was basically the chance to add (some) value to clients, and to get away from being labeled an accountant.
Don't know anyone who did so, but also didn't know anyone who tried. Since I was in a big office, there was virtually no interaction with auditors.
How important was your experience with the consulting internship when interviewing with Deloitte? Did you have it during junior year or senior year?
Hey wanna b MBB, thanks for doing this.
1) Is it worth lateraling to MBB post-MBA after doing 2-3 years at Deloitte (assuming I'm not trying to make a career out of consulting)? From a career trajectory standpoint, would it really add that much to my resume?
2) From talking to folks at Deloitte, it definitely seems as though the internal perception of S&O is pretty high. Taking a step back, where do you think S&O ranks in the consulting landscape a year after the Monitor acquisition?
3) What was the range of your weekly hours?
4) In terms of MBA sponsorship, if I get sponsored by Deloitte to go do my MBA and I receive an offer from an MBB post graduation, will the MBB cover my tuition costs as well if I decide to join them instead of going back to Deloitte?
5) In terms of bonus structure, I hear there is no performance bonuses for BAs. What is the typical salary raise and what bonus can I expect as a Consultant?
Thanks for all your help!
1) Hard for me to answer this as I may be facing the same decision in a few years. I think it would depend a lot of what you wanted to do. Generally MBB has more cachet, and I think there are definitely some exit opps that exist for MBB folks (PE, certain corporate strategy groups), that just aren't options coming from Deloitte. I would look at the types of positions you might be interested in a few years post-MBA and see if they are filled with MBB alums only, or if they are a mix of MBB and some tier 2 firms. The one comment I can make is on the group that I am joining at the retailer, which is that is about a 50/50 mix of MBB vs. non-MBB (all are former consultants), so in this particular case, not having MBB on the resume was not a major handicap.
2) Deloitte Consulting as a whole has done a great job positioning itself in the marketplace. The three branches (tech, S&O and human capital) do allow us to offer a pretty unique value proposition to clients and delivery from strategy all they way through implementation, across a broad set of capability areas. The monitor acquisition has strengthened the high end strategy capabilities, and allows us to compete with MBB for work in some cases (although we are clearly a lower cost provider). If Deloitte was a stock, I would invest!
3) Ranged from less than 40 hours of actual work (but was in the office from 9am til 6 or 7), up to 80+ hours, depenin It was very project dependent. Even on busy projects, on weekends I typically only worked an hour or two on Sunday, to prepare for the week ahead.
4) Not much insight here. I doubt they would cover the whole thing, but maybe you could negotiate a portion.
5) True. Raises are last year were around 8-15%, depending on performance. Don't know what the bonuses are like once you hit consultant, but have anecdotally heard they are pretty small (think ~5%).
Big thanks for doing this!
1) I have heard that networking is crucial to getting staffed on interesting projects. What should a new hire do to build out his or her network with the right people?
2) What did you like best about Deloitte? What did you like least?
3) What is the biggest advice you have for new hires?
1) It is, much more than at other firms. Staffing at Deloitte is largely done through back-channels and relationships, as opposed to a centralized and formal system (although one does exist). See #3 for my advice on this.
2) I have been fortunate to work with some really great teams in my time here, ,and do some very interesting strategic work, so those experiences are probably what I like the best. Also, the flexibility that the travel affords you is pretty awesome (i.e. visiting other cities for free on the weekends, hotel points, miles), I will definitely miss that aspect.
What I like least is how the performance evaluation process works, particularly how important your activities outside of client work are. In a lot of cases, you don't really get much credit for excelling on a very complex engagement with crazy hours vs. simply doing pretty well on less complex one with good hours. At the same time everyone (regardless of how busy their client work is) is expected to do a lot in the way of "extracurriculars", and it is very hard to get a top rating without doing so. To me, this incentivizes the wrong sort of behavior, as it does not incentivize people to take on challenging roles where they will learn a lot, but rather easier roles where they will have a lot of time to devote to the "extracurriculars". Furthermore, you have a lot of people doing various extracurriculars because they have to, rather than because they are passionate about them. Its really sucks to work on a side-project that you don't really care about at 1am after a long day of client work....
3) Definitely work hard to build out your network, even thought it is time consuming and occasionally frustrating. BUT, build your network the right way. It is much better to have 5 people who really know the quality of your work and trust you, rather than 20 people who know your name and not much else. Also, don't assume that relationships with partners are the most important, as it is the managers and senior managers who do most of the staffing. You have to decide what relationships to invest in, and make sure that it both sides are adding value.
Sounds like you might be starting at Deloitte soon, so feel free to PM me if you have other questions.
Great advice. Thank you!
In regards to my question about networking, what approach do you think is most useful? ...such as leveraging your school alumni network, going to networking events at the office, setting up coffee chats with managers and partners on Fridays, etc. I assume it is hard to network with people M-Thursday.
Thank a lot for all of your insight. I'm beginning at Deloitte as an S&O analyst in August, so if have more than a few questions... but to narrow it down:
What can do to prepare now and in the months ahead to succeed at Deloitte?
Do you feel that leaving Deloitte after only two years is burning any bridges for you? What if you left to a different consulting firm?
I understand strategy projects will help with MBA, MBB etc exits more than implementation work- is this the case with projects in certain industries as well?
1) Might brush up on Excel/PPT if you are not an experienced user, but even that is not essential, you will learn quickly on the job. Also would consider taking the GMAT, if business school is in your plans, as it is hard to study while working, and it sucks to waste time off to study. Really though, I would focus on enjoying your last few months of freedom, you have a great job waiting for you, and it may be a long time (a few years at least) until you have so much time to do whatever you want with. Travel, spend time with friends, live it up!
2) Yes, it is to some degree. I have a pretty strong network here, with people that would support me in a lot of ways (career advice, b-school recommendations). At the same time, I provide value to them, by doing good work on their projects and other activities. People don't hate me personally for leaving, but there is little value in continuing the relationship once I leave. There are some cases where I consider myself more of a friend than colleague, and I do expect to stay in touch. Even there though, it will be hard to stay close, as I will necessarily have a lot less contact with them. I do think it would be different if I was going to a competitor. I have heard stories of people being shown the door the same day they announce intent to leave. Instead of "sad to see you go, but good luck", it would be more like "get out now and never come back".
3) Having experience in the industry you want to exit in to is important. If you have done all healthcare projects, it is hard to explain why you are qualified/interested in going to (for example) a tech company. I don't think there is one industry where if you have experience in it, you will be a more attractive candidate across the board.
Thanks for your AMA.
I'm in my last semester of my MBA at a non-target school and didn't get any consulting interviews except one. I managed to parlay that into an MBB position overseas.
In your opinion how easy would it be to join Deloitte S&O after 6 months? In your two years at the firm have you seen many transfers from (or to) other consultancies? Have these typically followed a new grad or experience hire path?
Any insight you might have would be greatly appreciated!
Have seen a few transfers to other consultancies, but most were at the higher levels (Manager and above) and were due to a specific skillset that the individual had (industry or functional), where the competitor was building their practice in those areas.
Unfortunately don't have a lot of insight into transfers in to Deloitte from other consultancies. My best guess is that you would need to know someone here to put in a good word, in order to have a good shot. If you have any b-school classmates that will be joining, they might be your best way to get a foot in the door.
Thanks for your answers. A couple other questions if you don't mind:
1) You mentioned that the Monitor acquisition really strengthened the high end strategy offerings. Do most of the strategy projects go to consultants that were ex-Monitor? Or is the staffing pretty even throughout. Is it possible to break into those types of projects coming in as a BA?
2) Where does S&O usually place for b-school? What percent go to H/S/W?
1) Definitely possible to break in, and this will only increase with time. Some Monitor partners, senior managers and managers might have a bias towards staffing ex-monitor folks, but is really just a product of a general bias towards staffing those that you have worked with before. The number of ex-monitor consultants will also start decreasing sharply soon (as hiring is integrated), so that will only help your odds. Still hard to break in to strategy (and make it stick), but definitely doable.
2) I would say that at least 75% end up at M7, and for many of those who don't it was due to an external factor (i.e. significant other, or scholarships). H/S/W is rarer, but ~25% or so out of my office have gone there in the 2 years I have datapoints from.
This is great! +1. No questions here, and I'm pretty sure you just wrote the "What to Do Before Joining Deloitte As an Analyst" handbook!
I heard Deloitte offers to pay second year tuition for MBA interns that are returning post-grad. However the interns must be promoted to manager in two years or they have to return the money. Do you know if this is true?
I am DC in the S&O practice as well. - Do you hear of anyone leaving S&O for PE and how do they do it? - Still confused on why you would leave Deloitte if you are a top performer. You would have your MBA tuition set, but now you are looking to pay 80-100k out of pocket for MBA expenses. - Any advice on how to get that 2 or 1 during year end time?
-Haven't heard of this happening for anyone in my network. I did get notes from a few PE headhunters, but they were small firms, the pay seemed low, and I didn't think I would be in a good position to get the job due to having very little financial modeling or valuation experience.
-In order to get your MBA paid for, you have to come back for 2 years. The Deloitte assistance ends up being about $60K, since it is paid back as a taxable bonus. Given the fact that I got a decent sized raise with my move, to me (and obviously this is a different calculus for different people), this did not seem like enough of an incentive to spend the next 3-4 years in a job that I don't love on a day-to-day basis.
-Killing it in your client work is a prerequisite to getting a 2 or a 1. Beyond that, it is all about the firm activities. If possible, focus on just 2 or 3 meaty activities that allow you to demonstrate leadership or impact. Best is established programs like local office champion roles or national BAAC roles. If that is not possible, choose activities that make you as visible as possible in your local office and where you can point to quantifiable impact at year end (i.e. planned X events attended by Y people in the last year)
"-In order to get your MBA paid for, you have to come back for 2 years. The Deloitte assistance ends up being about $60K, since it is paid back as a taxable bonus. Given the fact that I got a decent sized raise with my move, to me (and obviously this is a different calculus for different people), this did not seem like enough of an incentive to spend the next 3-4 years in a job that I don't love on a day-to-day basis."
Is this the only requirement for MBA reimbursement (staying on for two years)? I read on another thread that returning MBA interns have to be promoted to manager after the two years for the reimbursement. Do you know if this is true?
What kind of skills do you use on a daily basis for work? Monte Carlo Simulation? Regression Models? Optimization Models (Operations Research)? What software do you find to be essential as a Consultant?
I'm not OP but...
Unlikely you will be doing much monte carlo or regression on a daily basis. Maybe occasionally, but mostly just a plain old excel model.
Essential software is powerpoint, excel, and whatever email program is used (outlook for most, lotus notes for others)
Yep, pretty much spot on. Some analysts I know have used regression models on their projects, but probably
Thanks again for doing this AMA. I have a few more questions if you're willing:
1) What are the standard watches/ suits/ shoes that analysts should be wearing?
2) What are the best Credit Cards/ memberships for racking up points?
1) It doesn't really matter, I have seem shit analysts who wear super high end stuff, and vice versa. That said, I think I am on the upper end of the spectrum of analysts in terms of how much effort I put into my clothes. Typically wear brooks brothers or hickey freeman suits (when suits are necessary, which is rare, allen edmonds shoes, and a victorinox watch.
2) You have to use the Amex corporate card for all of your expenses at Deloitte. Pretty average in terms of rewards, but I do get a $100 gift card every 2 months or so. Unfortunately you cannot optimize by using say an SPG card for hotels and an AA card for flights. Kinda sucks, but it does make doing expenses easier. I split pretty evenly between SPG and Hyatt for hotels and am pretty happy with that decision (more options to choose from when redeeming). Airline is usually based on your city...don't want to give anything away for that reason.
Hello. Thank you for doing this. I will be joining Deloitte in August as an analyst in S&O and just had a few questions.
I am more interested in the strategy side of consulting vs. operations and implementation. Which types of projects would you recommend attempting to get staffed on (Finance, M&A, Supply Chain, Corporate/Business Unit Strategy, Business Model Transformation, Performance Improvement etc.) that may lead to more strategy type work than implementation?
Are there certain industries out of the six main industries that Deloitte is involved in that you see more opportunity for strategy type work? (I would like to stay out of Life Sciences & Health care and the Public Sector).
Hello and thanks so much for doing this. I have three questions for you if you don't mind:
Do you have any advice for an incoming analyst who is highly introverted, tending towards social awkwardness? I feel as if I was able to "fake" being social during the networking and interview process by being highly prepared, but I feel like most of the consultants I met were much more social than I truly am. To be clear, I'm highly analytical and can deliver a decent presentation -- it's more the networking/socializing side of the job that concerns me. How much does hanging out after work and being likeable impact performance?
Without giving away any sensitive information, would you mind explaining how alternative travel affects you from an income/tax perspective? Does it end up costing you at some point?
For those who leave as analysts, how much do you feel your undergrad credentials (university, GPA, internships) impact your exit opportunities?
1) I think you can overcome this. I definitely know some very successful analysts that were not super social. You can make up for not being the life of the party by setting up time for coffee chats on Fridays and doing great client work. People will recognize that. There is a lot less of the forced socializing than in the recruiting process, you should feel comfortable being yourself. That being said, don't be the guy who ALWAYS refuses to go out to dinner or grab a drink.....
2) Technically alt-travel is taxable but most people I know just billed their alt travel flights as their normal travel and thus did not pay any tax. Definitely one of the best perks of the job, and I will sorely miss it!
3) Don't think it matters too much. Having a strong GPA and somewhat well know university might have helped me get my foot in the door (i.e. get the interview), I have no way of knowing though. My sense is that once you leave college, your GPA etc. starts to matter way less than your work experience. I was not asked about that stuff at all during my interviews.
Thanks for the thread OP. My question (and prelude):
I'm currently at a boutique firm with almost two years of experience (healthcare advisory, provider side only), and got my graduate degree (non-target MBA) immediately after undergrad. While I've learned a large amount of industry-specific knowledge, as well as acquired the prerequisite tools (Excel/PPT/SQL), I've felt a little underdeveloped in my current state.
What kind of training and development was provided to you when you started, from both a functional and industry (if you specialized) perspective? What T&D was available as you progressed over two years? What is your understanding of how a person with my background can apply to Deloitte (or a similar, larger firm)?
Thanks for the thread
The formal training at Deloitte was not the best, but my suspicion is that it is not great anywhere. It is hard to bring in a few hundred analysts with widely varying backgrounds (some business majors, some english majors), and make training relevant to all, or even most of them. Beyond the formal training however, I do feel that Deloitte has a strong mentorship culture, if you find the right people to work with. I have definitely encountered quite a few managers and even partners that are willing to invest in your development. The best way to learn was to seek these types of people out and work hard to develop a relationship with them.
Deloitte does do lateral hiring, especially in the healthcare space. With several years of boutique experience, it sounds like you might have a good shot. I would recommend reaching out to a recruiter to learn more.
I think the fact that OP had very little interaction and doesn't really know the answer is evidence of how rare it is. Remeber that the two companies (Deloitte & Touche vs. Deloitte Consulting) are two seperate entities. As in, when I transferred practices, I had a different employment contract, different pay check, and different tax forms. There really is a Chinese Wall between the two.
To answer the question about ERS to S&O, the same thing as above applies. Likely, your skills will be more transferrable than an auditor. There actually is a bit of overlap between some of the work an ERS consultant can do and some of the more CFO/Finance focused projects in S&O. However, I'd say there's no reason why auditors with the right personality couldn't do well in S&O, it's just that the divide is quite difficult to overcome (and many don't even try).
Just wanted to add on what BGP and the_stig have said re: transferring between service lines:
At my office, I have seen those with a CPA/other accounting certification transfer, though I hear from Partners etc. that the 'waitlist' is long. The benefit is that you most likely have internal connections and audit partners that will 'go-to-bat' for you. However, there aren't many spots available for those coming in from audit, as these positions are highly coveted and recruiting fills the other gaps. If you are a rockstar though, leverage those internal connections and it could happen.
ERS is definitely more related to consulting, yet is different enough that it's not a given. The ERS Partners do work closely together with consulting Partners though and at my office, we share the same floor so you can make connections easier.
Thanks for doing this, guys. Two interrelated questions:
1) what are pre-MBA exit opps like compared to what you may know of MBB, particularly in the tech industry and startups? People on this board say that it's relatively easy to go from MBB to corporate strategy at a top company in its industry like Google - as long as you're not too picky about the specific company - but do you think that holds coming from Deloitte as well? Further, do you think it's merely more difficult for S&O analysts to get hired at these places because they're competing against other smart kids from MBB, or that there's a sort of 'wall' that prevents S&O analysts from even getting interviews at some of the most brand-name companies (whether it's Walmart for retail, tech, or whatever industry)?
2) what can an S&O analyst do to maximize their chance of getting a top exit opp? What do you think differentiates the analysts/consultants you've seen that have left to the most most brand-name companies?
Sorry that these questions have a sort of prestige-whoring undertone to them - I don't mean to denigrate the consultants that leave for less brand-name positions (which I imagine are probably due to personal preference anyway), but given how S&O has accelerated in the last few years to being pretty much right below MBB tier-wise, it's interesting to hear how they compare in terms of a fairly measurable criteria, the 'prestige'/brand of exit opps.
Second the previous questions, and hope I'm not hijacking by asking for your two cents on the whole "1 year in consulting is worth 2-3 years in industry" line. True, false, or somewhere in between? Thanks again, you've been awesome.
Not sure on that exact ratio, and it likely varies by industry, as well as by what you have done during those years in consulting. Directionally though, I would agree.
I'm also very interested in how S&O places people into tech in roles like Product Management or Strategy, particularly at the post-MBA level. I'm debating between going straight into tech or doing a consulting stint first, and with MBB being something of a reach I'm curious about some of the tier 2 shops.
I would like to hear an answer to this too. Would a strategy and ops team (sales or business) at a tech etc firm be 'better' to get into directly vs the MBB --> S&O team at a tech firm route (given a lot of MBB's exit to these roles if they decide to leave the consulting industry for tech).
1) Definitely know of people going to startups, including some of the hot ones out there, as well as companies at the "top" of their industry. The prospect of b-school sponsorship is very attractive, so I think that those that do leave before that generally do so to pursue a pretty good opportunity.
In terms of the competition with MBB for corporate strategy gigs, I am sure that coming from MBB gives you a tangible advantage,and there are likely some companies out there that that will not even interview folks from another firm. that being said, I think the vast majority of companies realize that a strong consultant from a tier-2 firm will be much more productive than a middle-of-the-road MBB consultant. It also probably depends somewhat on the economy, as when firms are hiring more aggressively (as I think they are currently starting to), they can't be as picky about their sources. For the retailer I am going to, the strategy group is split about 50-50 between consultants from MBB and non-MBB. Can't comment on the tech industry specifically, because my office does not do a lot of tech work, so I would not expect many people to be competitive for, or interested in corporate strategy roles in that space.
2) Biggest is probably doing work in the industry you are interested in exiting to. This helped get the interview, during interviews, and in the decision making process around leaving (i.e. I have some idea what I am getting in to). Beyond that, doing interesting (i.e. strategic) work is important. As you can read about in my other posts, there is a lot of implementation/execution work floating around out there, but that doesn't necessarily equip you well to jump into corporate strategy. Of course you don't need to (nor would you be able to) do all strategy projects, but having at least 1 meaty strategy role would be key for most corporate strategy exit opps.
Thanks a lot for doing this. How do you think most business school will look at your transition? And which schools do you think you can get with your Deloitte + F500
I thinkthat I will be able to tell a strong story about how I used consulting as an opportunity to find an industry of interest (i.e. retail), and decided I wanted to gain deep experience by going into industry. In addition, I also will have more time outside of work to do some kind of meaningful and impactful community service, so that should help round things out a bit.
I think that if I stayed at Deloitte, I would have been overwhelmingly likely to get in one or more of the M7, with a ok (but not great) chance at H/S/W. After the transition, I think the M7 chances hold, and I hope that I have SLIGHTLY improved my chances at H/S/W. Really though....only time will tell.
Have you seen anyone lateral in to Deloitte S&O after having 1.75-2 years of experience (graduated undergrad May 2012), working a boutique consulting firm? What position would that person apply for (business analyst or consultant?) and what would be the best method?
Thanks
Thanks for doing this - very informative!
I know there were a few questions related to exit opps but could you expand upon what the typical routes are?
What are the rough % breakdown of those who leave vs. stay? (i.e., B-School sponsorship vs. pursuing outside opportunities)
What are the typical types of exit opportunities you have found available to you / have seen other leave for (i.e., are they typically strategy-focused roles, operations, marketing, finance roles?) Are these opportunities are F50, F500, start-ups, or somewhere in-between?
What was the interview process like for the retailer corp. strat position? Was it case-based? Did you interview anywhere else or consider any other positions?
Thanks in Advance!
1) I can only accurately comment on my cohort. I started with about 22-24 people, and I was the 6th to leave. Since I left, several more have already left, and I think more will leave once they don't have to pay back their signing bonus this summer. I think ultimately about 50-60% will remain once it is time to apply to b-school, and the majority will get sponsorship, but there may be a few that do not, and end up getting counseled out or applying to b-school un-sponsored.
2) A pretty good mix. I know people who have left for startups, including some of the hottest out there. Others have left for strategy focused roles, while still others have left for functional roles in marketing and finance or something operational, like a project management. I don't follow the F500 well enough to know what companies are F50 or not, but if it were your goal to go to the biggest of the big, I don't think that would be an issue from S&O. There are also certain industries where S&O is comparatively strong/weak, and the exit ops probably follow to some degree (although at Deloitte's scale, there is a decent amount of work in any industry). I would say that healthcare, CPG and financial services are strong, while tech and retail are relatively weak, and energy is very weak.
3) Pretty simple process. 1 phone screen, followed by a day in the office. Did a couple of cases in the office (market sizing, and a project that the team had worked on), but they were not as rigorous as consulting case interviews. Also had to some psychological and analytical testing. I did look and interview at few other places throughout my time at Deloitte, but none that seriously. Recruiting takes time as well, so I never really had multiple things going in parallel. Even the place I ended up did not start out serious (thought there was no chance I would take it), but ended up changing my mind throughout the process.
Hi WB-MBB who would you say is strong in tech, consumer products, retail, and energy?
Also would you mind if I PM you? I am new to WSO and Deloitte as well!
bump
bump...
Thanks for doing this. This may be a bit off topic, but I was wondering if you (or other readers) knew how comparable Deloitte S&O is to Accenture Strategy in terms of caliber of personnel, exit ops, primary b-school options, etc. I know Deloitte S&O is probably a notch above Accenture as a whole, but I was wondering if the Strategy group at Accenture was more on par with Deloitte S&O. I really like the exit ops. for S&O given my target b-schools; so I was curious if Accenture Strategy would provide a similar level of pedigree/brand. Thanks in advance for any insight!
Don't know much about Accenture, as I don't have any friends there. What I do know is that they do a higher % of IT and operational work than Deloitte, and much higher than MBB. Since the overall pool of work that the firm does has a major effect on the average experience of any one consultant (particularly at junior levels, before you specialize), I would guess that the experience and exit ops would be a bit better in S&O than at Accenture, even in the strategy group.
Thanks for doing this OP, only question I have: is there a sizeable Teach for America group in Deloitte? How much does Deloitte (to your knowledge) value TFA corps members who want to do S&O?
Would you happen to know a little more about how the credit card points worked? I heard it's all corporate card - are there still opportunities for points?
Amex membership rewards points for everything on your amex.
Hotel points for hotels, miles for airlines, rental cars have their credit too.
Also, at many firms you can get away with (or it's allowed) using your personal card for some expenses. For example, I use a starwood amex for all starwood charges.
At Deloitte you cannot use a personal card for any expenses. Always kind of annoyed me, but from the firm's perspective it makes sense, and it made the expense reimbursement process easier. The points are still pretty good on the corporate amex, I got a $100 gift card every month or two, depending on where I was traveling to.
Excellent thread! Since you guys mentioned a few things such as S&O and ERS, can you please explain what ERS is? Is ERS heavily based on accounting side? What major(s) is sufficient enough for ERS?
Complete newbie question that I'm sure will be covered in training, but can you speak about the travel policy? For example,
1) Typical expense policy/per diem? 2) Can you book your favorite carrier, or do you always have to pick the lowest cost option? Full refundable fare? 3) If you need a car in a new city and/or your flight is delayed/canceled, is there support to help you navigate the process or are you on your own?
Not the OP, but also ex-S&O analyst turned internal consulting type of role within F50.
1) Really depends on each project, but the benchmark is around $50/day on average ($7 breakfast, $15 lunch and $25 dinner with optional $7 snack). Some projects have large budgets, will have team dinners at nice restaurants on almost a daily basis. The less fortunate ones will be penny pinching.
2) All travel is booked through a travel agent portal specific to Deloitte. Rarely would you find a discounted ticket there, most are fully refundable from major airlines (Delta, AA, Continental, United, even Southwest) though no Spirit or Jet Blue. You're allowed to book any flight there, but again, keep in mind of the project budget. If you want to arrive to the client site at 8am but that flight is 35% more expensive than the one that gets you there 30 min earlier, maybe you should book the cheaper one and get up early if you don't want your SM to think you're a prick. Only SM and above are allowed to change their flights last minute for extra $500 so they can get back home.e 1 hr earlier (just kidding, or.not). But maybe that's not an issue at all at a project with more buffer room. (You can tell now that my projects were all tightly budgeted ones, unfortunately)
3) Same as my previous answer. Again, there is not a central Deloitte pool of money that you have access to. Your expenditures stay within the limits of the project. So when unexpected events happen, explain the situation to your SM, and if he / she approves (most likely he/she will) call Deloitte's travel agency to set up the alternative arrangement.
Hope that answers your questions.
One thing I do want to bring up is the difference of travel vs local projects, and my advice would be strongly for the travel ones. Aside from the glamour of traveling, points, mileages and comped meals, you'll be there with a small set of teams assembled from different offices (but a few will be someone you know from your office), and it'll be easy to develop a strong team spirit / bonding of sorts and expand your network. The local ones do not come with free lunches, and many times the proximity can give the team a reason to stay on client site longer than necessary, which is very frustrating.
Finally, many of the DC offices will have its particular lean towards certain industries. For New York, it's Financial Services and Healthcare. For Chiacgo, it's Retail. Houston: Oil & Gas. Detroit will be Automotive, obviously, while the LA office bills most of the TMT (Tech, Media and...Entertainment?!) work.
IF YOU'RE FROM ONE OF THOSE OFFICES AND THESE ARE NOT THE INDUSTRIES YOUR INTEREST, AVOID THOSE PROJECTS AT ALL COST!!! Like many of the posters here have pointed out, project staffing is very informal at Deloitte. If you allow yourself to be on a project in an industry that does not interest you, especially as your first project, you risk getting stuck in that space for a long time and that has many consequences, INCLUDING YOUR EXIT OPPS.
If you do find yourself in that unfortunate circumstance, network the hell out of there, into the space you want to go into. And have the Partner that you newly befriended fight for you to staff you on his / her next project, to rescue you from the sandbox's entrapment. Use the Rotational Program excuse if you have to. DO NOT tell the Automotive Partner in Detroit that you didn't like his project with the Big 3, as most of the times, Partners in these dominant industries call the shots when it comes to local office affairs (and that includes your year end evaluation!!!) and you don't want to be on their dark side.
I'm happy with where I am now (soon off to an M7 school) and fully recognize that my two years at Deloitte is what afforded me these opportunities I have currently. But my two years there were rather unpleasant, I spent the time figuring out what I didn't enjoy and crossing out potential career paths / exit opps as opposed to finding my true passion. What I wrote above is something I wished somebody have told me sooner, then maybe my experience at the firm would have been different....I don't know.
And oh, try to take your GMAT before you start work. I'm very very serious about this.
Incredibly helpful, thanks very much. I'm actually joining post-mba, but I assume all the advice still pertains to all entry level consultants. Where you headed for b-school? PM me if you don't want to disclose, I just graduated from an M7 this spring.
Hello. Thank you for taking the time to help us all.
1) If someone were to be aligned with a service line and industry to begin in S&O, how likely is it that this person can change this service line and industry over a couple of years. I do understand that Deloitte is very heavy on networking which is fine but just wanted to see the possibility.
2) Is it possible that one can get staffed across service lines and across industries or is there a definite boundary?
3) if being aligned in non-Strategy area in S&O and want to move in Strategy, is it doable?
Thank you so much.
Appreciate the time everyone has spent answering questions. As a senior starting the application process it has been extremely helpful.
I recently was emailed by an alumni that I knew kinda well from my school (one of the top feed in schools to Deloitte consulting) and was told that I had been identified as a high potential for management consulting by Deloitte. Does that mean anything? Or do they send that to most people who passed a certain GPA threshold?
Are there big hours a week differences between the different offices or industry focuses?
Lastly, how do the post-ops compare to top economic consulting firms? Specifically for MBA but also post-MBA jobs.
Thanks again
Question here from a Master's degree Deloitte S&O offeree:
I received an offer for my 2nd choice city, and I was told by the recruiter it's possible to transfer to my 1st choice city after a promotion cycle (I'm guessing a year or so). What are your thoughts on this? Are there any S&O folks you know of who were able to transfer offices, and if so how difficult was it?
I also have a question regarding transferring from an international office of Deloitte to an US office (NYC, SF, Chicago). I was wondering how difficult the transferring process would be and does Deloitte S&O have a program similar to MBB where consultants get to spend a year in an office abroad after working at their home office for 2 years?
Thanks so much!
Hic iste ut fuga asperiores deserunt sunt iusto. Quidem modi nihil sunt praesentium amet assumenda omnis. Velit maiores enim incidunt eos est quia. Numquam aut delectus optio dolor qui qui corrupti. Magnam nisi qui ex officia. Et voluptas saepe nobis.
Explicabo illum reiciendis maxime soluta sit qui voluptates. Nostrum ut sunt cum ab et aliquam. Quia perferendis nisi quam exercitationem harum et qui. Et quod nemo hic quo saepe.
Odio sequi voluptatem perspiciatis sit ipsum harum dolorum. Sequi et enim illo corporis illum qui ab. Ratione dolores qui iste odit labore earum quidem est. Consectetur sed reprehenderit nihil ex iure dolor qui. Quia commodi quam consequuntur.
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...
Quam delectus aut dolorum quia quas velit. Veniam dicta ut voluptatem molestiae veritatis praesentium. Deleniti fugiat nam rem ipsum expedita est quibusdam saepe. Magni est est earum et rem magni accusamus vitae.
Harum deleniti facilis est error. Dolores rerum dicta nulla aut natus voluptatem. Dolores nobis fuga ipsam officia maxime et non enim. Eligendi dolores animi quis nisi dolorem. Sequi eligendi qui debitis. Quia qui reprehenderit sit sequi facilis voluptatum perferendis.
Ullam pariatur officia et consectetur officia eveniet. Et quis quasi voluptatem. Aperiam tempora quia odio omnis. Eveniet similique ut ipsa deleniti ab quibusdam. Repellendus sit ullam molestias itaque eaque quidem repellendus. Autem dolores omnis dicta eum qui saepe est. Itaque atque maiores quis provident.
Sit alias est porro iste. Nihil dolorem doloremque saepe maxime soluta.
Quis odit sapiente officiis et voluptates aut. Est quia distinctio pariatur quisquam architecto velit quibusdam aut. Alias voluptates consequatur similique quibusdam quam sed rem.
Nobis accusantium qui ut illo dicta exercitationem. Dolores illo molestiae commodi soluta minima velit rerum ut.
Omnis dolorem impedit explicabo aperiam sunt modi. Doloribus dolores ab sint sit assumenda expedita ipsam. Omnis veritatis quia fuga id. Quidem eaque sint nihil soluta quam.
Et porro sequi commodi perspiciatis numquam officia. Voluptas repudiandae natus a sint deleniti. Et repellendus vel repellat ad.
Ipsum ad iste ipsa reprehenderit hic. Et voluptas sed ipsa non quisquam. At esse deleniti quaerat quo soluta.