Strategy& Recovery

ansible's picture
Rank: Senior Chimp | 21

Hello,

Would anyone have a good view on the current state of Strategy&? We've all heard the horror stories of the alleged mass exodus of partners and the overstaffing and subsequent layoffs, but those events (if they happened at all) seem to be from 2016 or so.

Where are they now, in terms of strongest practices, and current comparisons to rival T2 shops (OW, LEK, ATK, EY-P, Deloitte S&O)?

Comments (19)

Sep 5, 2018

Hey ansible, I'm the WSO Monkey Bot and I'm here since nobody responded to your topic! Bummer...could just be unlucky but one of these topics will help shed some light:

  • How difficult is it to get into Deloitte Monitor O&S and PwC Strategy consulting? consulting? I was wondering if it 'easier' to get in for that than strategy and if so, what is ... likelihood of transferring to strategy from management consulting later on in one's career? I should ... other in terms of competitiveness and pay/prospects? and also, any thoughts on PwC management ...
  • Pricewaterhouse to Buy Booz Consulting Firm had agreed to buy the consulting firm Booz & Company, bolstering its advisory business. Financial ... firm's buildup of consulting businesses that could pose conflicts of interest. PricewaterhouseCoopers and ... consulting assignments that conflict with existing auditing clients. Booz & Company partners are expected ...
  • Booz, PwC, and "Strategy&" all, I think it is a good move for PwC. There has been a shift away from pure strategy consulting as ... & Co. The name they chose? Strategy&. Apparently PwC has a pension for picking rediculous names ... for its consulting firms. Before spinning off its strategy arm in 2002, they branded it ...
  • Samsung Global Strategy vs. McKinsey Operations vs. PwC Management Consulting in the U.S. PwC Management Consulting (Dallas): Will be focusing on operations consulting as well. ... why. Samsung GSG (Seoul): Internal strategy consultling for two years and will then move into an ...
  • My View on the Current Top 10 Strategy Consulting Firms EY-Parthenon PWC S & (tied with EY-Parthenon) Accenture Strategy While I think ATK is probably on the ... early pioneers of pre-1950s strategy & ops. consulting). It therefore holds its spot toward the top ... business for digital strategy, which bodes well for the future Strategy Consulting prestige rankings ...
  • What was strategy consulting at PwC like before Strategy& came about? What was strategy consulting at PwC like before Strategy& came about (i.e. before 2013)? Did ... referencing strategy consulting. Thanks! strategy consulting pwc strategy& ... PwC have a full-fledged stand-alone strategy practice, or was it simply grouped together management ...
  • AMA- I Work at Strategy&. Consulting unemployed strategy consultant with 0-1 projects under his/her belt? What do these people even put on their ... Here to answer your questions. A bit about me:-Strategy& Senior Associate-Graduated from M7 ... campus grads through no fault of their own. Partners couldn't sell, so people were cut. PwC focuses ...
  • PwC Management Consulting vs Strategy&? Can someone explain the difference between PwC Management Consulting and Strategy ... name of all of PwC's MC operations. PwC consulting ... &? I understand that Strategy& is the former Booz & Co., but it does not appear that Strategy& is the ...
  • More suggestions...

Any pros willing to rescue this discussion? @Pulkit-Durgvanshi @JohnnyForeigner @AustinKorbel

Fingers crossed that one of those helps you.

Sep 8, 2018

Also interested!

Most Helpful
Sep 8, 2018

Hi,

I'm an EM at an MBB firm and actually made a throw away account just to respond to this post, as I've grown tired of reading the false rumors on this subject across WSO (many coming from people who are clueless and only consider prestige when making career decisions).

From what I understand, and many of my colleagues agree, the integration issues that Strategy& has experienced with PwC, while real, are incredibly overstated. My firm still competes with S& for projects and they even win the work that we don't from time to time.

For your questions, I don't know where I'd rank them in terms of Tier 2 shops, these things are very fluid depending on the industry, but they are certainly near the top and have recovered much of their prestige from the legacy Booz days (if pressed, I'd say they are best along with OW, LEK, and Deloitte). In terms of partners leaving and over staffing, I don't have any firsthand experience with that, but the industry perspective, at least in my view, is that the firm is quite stable and beginning to excel within the PwC framework. If you're not given the chance to start your career at an MBB firm, I cannot think of a better place to start than S& or any of the other top Tier 2 strategy consulting shops.

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Dec 5, 2018

Would be very interesting to hear some more thoughts on this! Both for Europe and US

Dec 17, 2018

Bumping this, anyone else with S& experience on this site willing to chime in?

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Dec 17, 2018

We had a couple of people join our team last year because S& continued to lose business - this is an emerging market region though so might not be relevant information for you if you plan to start working in the US

Dec 17, 2018

Understood, thanks for the info. I am primarily interested in the US practice but always curious to understand how the firm/brand is perceived in other regions as well.

Dec 21, 2018

Yes, some of our EM groups have struggled. In the U.S. there has been a hard line placed against cross staffing PwC and S& - this isn't the case in all of our markets. It's very, very regional specific so I won't comment on the breakdown. The situation in the U.S./Europe is much different than in LatAm though. I can't speak to Asia/ME.

Dec 17, 2018

Happy to chime in here. I recently joined Strategy& from a top ivy league school and my impression before joining, as well as since joining, is that S& is the best T2 shop along with OW (on campus S& is the #1 choice for students after MBB).

Having spoken to peers at MBB firms, the quality of projects is certainly on par *if not better than what they've experienced), the people are incredibly intelligent, and the exit opportunities have not diminished since the PwC acquisition. Like the MBB EM said above, the rumors on this forum are incredibly overstated (though my sample size is certainly small; I've only been at the firm since August).

To answer OPs "horror stories" more directly, I personally haven't seen any of the leadership depart the firm and we have actually brought in top Principals/Partners from MBB since I've joined to continue winning in the marketplace. As for layoffs, again, I haven't personally seen anything beyond what one would expect from a top consulting shop with an up-or-out model.

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Dec 21, 2018

imthelord, sorry about the lack of response. Maybe one of these topics will help:

If we're lucky, maybe these professional users will respond: @Sandip-Devani @margo @rkckjhk

Hope that helps.

Dec 18, 2018

Agreed, I think the firm is doing a great job of competing for strategy work. I'm in the deals practice, which is growing even faster than the rest of S&, being a newer group. We had a 80%(!) acceptance rate for campus candidates and several higher level outside hires as well.

I'm only an associate, but I personally think the team has done a great job leveraging the tools that being part of a company as vast as PwC gives. Some of the tactical things include having to do no implementation work (PwC MC does that), having resources such as PwC India to outsource work to, and just having a vast network. On the project side and from an associate's limited exposure, we win a lot of work over other firms including MBB just due to being able to offer a whole package. Plenty of our work gets sold alongside other PwC groups such as tax or MC and clients appreciate having everything in one package.

I personally think most of the horror stories of integration are grossly overstated. Our team does exclusively strategy work, we have fun events of just S&, and we have compensation differences between us and the rest of PwC because of higher expectations and work hours.

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Dec 18, 2018

I received an offer from Deals Strategy a while back that I turned down, though I did have a good experience interviewing. One thing that confused me was whether Deals Strategy (I guess broadly, DS&O) was actually part of Strategy&. Seemed like they were not part of Strategy& based on discussions with people there and the offer letter, but it was a bit tough to tell. Is there a S& Deals Strategy and PwC Deals Strategy that are separate entities?

Gimme the loot

Dec 18, 2018

Deals Strategy is a joint venture between Transaction Services and Strategy&. It is technically not S&, but the pay is aligned to the S& cohort.

Dec 19, 2018

It is a big confusing, but essentially, we straddle Transactional Services and Strategy Consulting (aka S&). In other words, we mostly work for clients within the TS horizontal but only strategy work.

What this means for us is that we work alongside other TS groups to deliver integrated works, especially DD work that'll be PwC branded. If it is just a CDD or Deals Strategy only team, it'll be S& branded. So no, we're not "technically not S&" we just do a bit different work and are bit more specialized. Our team participates in all S& events, is aligned to S& pay, and is represented at our leadership meetings.

If you think about it, the DS (and now Private Equity Value Creation team) is probably what PwC leadership had in mind when they bought Booz. You have a group that does exclusively strategy work alongside traditional MC to help deliver a complete product to the client.

Dec 21, 2018
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