qwertyolo
Badges: 0
Rep:
?
#1
Report Thread starter 5 years ago
#1
Hi there.

I currently have a job offer for management consulting at PwC for 2015 start date - it's not in the strategy stream but is a general rotation role for two years across all the consulting areas.

At the moment, I'm wondering whether or not I should go for the big strategy houses - McKinsey/Bain/BCG this year instead. Any advice from those in the know would be much appreciated.

As I'm aware, the pros of the big 4 over the big 3 are: better work-life balance, less stressful etc., whereas the big 3 are: more prestigious, pay more, more challenging work etc.

Does anyone know the actual difference in working hours/pay/stress levels/intellectual stimulation? Any advice?

Thanks!
0
reply
zxh800
Badges: 12
Rep:
?
#2
Report 5 years ago
#2
Out of curiosity what's the pay they've offered you at PWC?
0
reply
stevey123
Badges: 0
Rep:
?
#3
Report 5 years ago
#3
Congrats on your offer!

MBB is a step above PwC strategy which is seen as more prestigious than their general management consulting stream. This means that future prospects are better from MBB including top MBA programs, Corp Strategy in blue chips etc. That doesn't mean PwC holds you back, you would just need to be at the top of your class.

You can check the salary of various consulting firms here : http://managementconsulted.com/consu...e-mba-interns/ At the graduate level it isn't hugely different.

Lifestyle will be better at PwC and with a larger graduate intake may be preferable - but MBB isn't investment banking, so it is possible to manage a good balance.

PwC is a great opportunity, but it would be silly to turn down an MBB offer for it.
0
reply
ParetoOptimum
Badges: 11
Rep:
?
#4
Report 5 years ago
#4
(Original post by stevey123)
Congrats on your offer!

MBB is a step above PwC strategy which is seen as more prestigious than their general management consulting stream. This means that future prospects are better from MBB including top MBA programs, Corp Strategy in blue chips etc. That doesn't mean PwC holds you back, you would just need to be at the top of your class.

You can check the salary of various consulting firms here : http://managementconsulted.com/consu...e-mba-interns/ At the graduate level it isn't hugely different.

Lifestyle will be better at PwC and with a larger graduate intake may be preferable - but MBB isn't investment banking, so it is possible to manage a good balance.

PwC is a great opportunity, but it would be silly to turn down an MBB offer for it.
I've heard McKinsey grads can expect to work till midnight Monday to Thursday with Fridays more relaxed (I don't know if that includes travel). The hours may not be as long as IBD but they're still bloody long at MBB level, plus the travel can be exhausting in itself.
0
reply
Tokyoround
Badges: 15
Rep:
?
#5
Report 5 years ago
#5
But you only have the one offer? A bird in hand...

Posted from TSR Mobile
0
reply
M1011
Badges: 16
Rep:
?
#6
Report 5 years ago
#6
PWC Management Consulting is great, but MBB is clearly the best bet if you can get in.

However you'd be mad to turn down PWC on the chance you may get in to MBB next year. Go to PWC, and if you think your profile is strong enough then continue applying to MBB and see where it takes you.
0
reply
Consultingstude
Badges: 0
Rep:
?
#7
Report 5 years ago
#7
(Original post by qwertyolo)
Hi there.

I currently have a job offer for management consulting at PwC for 2015 start date - it's not in the strategy stream but is a general rotation role for two years across all the consulting areas.

At the moment, I'm wondering whether or not I should go for the big strategy houses - McKinsey/Bain/BCG this year instead. Any advice from those in the know would be much appreciated.

As I'm aware, the pros of the big 4 over the big 3 are: better work-life balance, less stressful etc., whereas the big 3 are: more prestigious, pay more, more challenging work etc.

Does anyone know the actual difference in working hours/pay/stress levels/intellectual stimulation? Any advice?

Thanks!
Howcome you applied to MC at PWC and not Strategy? Also how have you got your offer this early? Thought they didn't interview etc... until after the deadline in November?
0
reply
qwertyolo
Badges: 0
Rep:
?
#8
Report Thread starter 5 years ago
#8
(Original post by Consultingstude)
Howcome you applied to MC at PWC and not Strategy? Also how have you got your offer this early? Thought they didn't interview etc... until after the deadline in November?
I actually did the insight academy 2 years ago, got an internship from that, and chose management over strategy for the internship not really knowing that strategy is more prestigious. Then I got the management offer after the internship - a year ago.

The management programme at PwC is supposed to be general consulting rotating across all the 'competencies' (including strategy) and then specialising after two years. So I guess it's not too much worse.
0
reply
qwertyolo
Badges: 0
Rep:
?
#9
Report Thread starter 5 years ago
#9
(Original post by M1011)
PWC Management Consulting is great, but MBB is clearly the best bet if you can get in.

However you'd be mad to turn down PWC on the chance you may get in to MBB next year. Go to PWC, and if you think your profile is strong enough then continue applying to MBB and see where it takes you.
No turning down PwC required - I'm starting there in September 2015 which gives me this year to apply to MBB if I want to.
0
reply
qwertyolo
Badges: 0
Rep:
?
#10
Report Thread starter 5 years ago
#10
(Original post by Tokyoround)
But you only have the one offer? A bird in hand...

Posted from TSR Mobile
Yep only one offer at the moment, considering whether to apply to MBB (my PwC job starts in September 2015 which gives me this year to send more applications if I want to).
0
reply
qwertyolo
Badges: 0
Rep:
?
#11
Report Thread starter 5 years ago
#11
(Original post by ParetoOptimum)
I've heard McKinsey grads can expect to work till midnight Monday to Thursday with Fridays more relaxed (I don't know if that includes travel). The hours may not be as long as IBD but they're still bloody long at MBB level, plus the travel can be exhausting in itself.
Intense weekdays are OK with me, any idea if the average MBBer will be expected to work weekends? That could be a large factor for me...
0
reply
Underdog123
Badges: 3
Rep:
?
#12
Report 5 years ago
#12
Hi there,


I work at PwC Management Consulting and I came in with the idea that McKinsey is better than PwC. However after working here, I totally take back anything I thought. PwC is a great place to start! Their rotational programme allows you to experience so many different areas in a variety different on areas. They have a huge emphasis on making sure that the working environment is right for you! Therefore there is a big emphasis on your learning and development. Through this, it is encouraged for you to network throughout the firm to gain a breadth of knowledge.


I feel that PwC is a great place in terms of working / life balance. It is also great in terms of the type of work they do! (They are becoming very ambitious, driven with a great growth strategy). Also, the intake which I was in is of a VERY high quality (much higher than I thought)!!


I know of MBB that you would be expected to drop your weekends for work (from a friend) - at PwC you don't have to work weekends Enjoy your life whilst you are still on great projects!


Good luck with whatever you decide
2
reply
qwertyolo
Badges: 0
Rep:
?
#13
Report Thread starter 5 years ago
#13
(Original post by Underdog123)
Hi there,


I work at PwC Management Consulting and I came in with the idea that McKinsey is better than PwC. However after working here, I totally take back anything I thought. PwC is a great place to start! Their rotational programme allows you to experience so many different areas in a variety different on areas. They have a huge emphasis on making sure that the working environment is right for you! Therefore there is a big emphasis on your learning and development. Through this, it is encouraged for you to network throughout the firm to gain a breadth of knowledge.


I feel that PwC is a great place in terms of working / life balance. It is also great in terms of the type of work they do! (They are becoming very ambitious, driven with a great growth strategy). Also, the intake which I was in is of a VERY high quality (much higher than I thought)!!


I know of MBB that you would be expected to drop your weekends for work (from a friend) - at PwC you don't have to work weekends Enjoy your life whilst you are still on great projects!


Good luck with whatever you decide
Thanks for your reply! I was wondering, how many projects do you expect to be on in the first two years? You don't actually get to experience a project in all of the competencies do you? I seem to remember most of them will just be a presentation and some L&D work.
0
reply
M1011
Badges: 16
Rep:
?
#14
Report 5 years ago
#14
(Original post by Underdog123)
I work at PwC Management Consulting and I came in with the idea that McKinsey is better than PwC. However after working here, I totally take back anything I thought.
To confirm, you now think McKinsey isn't better than PWC? Biased much?
0
reply
Underdog123
Badges: 3
Rep:
?
#15
Report 5 years ago
#15
(Original post by qwertyolo)
Thanks for your reply! I was wondering, how many projects do you expect to be on in the first two years? You don't actually get to experience a project in all of the competencies do you? I seem to remember most of them will just be a presentation and some L&D work.
To be honest that really depends. It could be anything from 2 projects to 10! Everyone is so different in the way they mould their first 2 years and the more proactive you are, the more your scheme will be how you want it. You get experience in the competencies that you network in or ask for sometimes. However, it does depend on what work comes in. For example if no strategy work comes in, you wont get any as you can't be on the bench for too long. This differs to other firms as you able to experience a wide range of competencies. The firm also works across a number of competencies for each project, so you will get experience that way.

In terms of networking / presentations / buddy's - there is a rotational scheme which runs parallel to the projects you do which aims for you to understand what competencies you enjoy.

(Original post by M1011)
To confirm, you now think McKinsey isn't better than PWC? Biased much?
Haha ok ill expand on this a bit. In terms of prestige, McKinsey wins.

However on the other factors PwC wins. The major ones are work life balance and also your own learning and development. And before joining PwC I was thinking that I wouldn't get the same exposure in terms of multinational clients, C-suite executives but I was wrong. You definitely do! I would say though, be proactive!
0
reply
qwertyolo
Badges: 0
Rep:
?
#16
Report Thread starter 5 years ago
#16
(Original post by Underdog123)
To be honest that really depends. It could be anything from 2 projects to 10! Everyone is so different in the way they mould their first 2 years and the more proactive you are, the more your scheme will be how you want it. You get experience in the competencies that you network in or ask for sometimes. However, it does depend on what work comes in. For example if no strategy work comes in, you wont get any as you can't be on the bench for too long. This differs to other firms as you able to experience a wide range of competencies. The firm also works across a number of competencies for each project, so you will get experience that way.

In terms of networking / presentations / buddy's - there is a rotational scheme which runs parallel to the projects you do which aims for you to understand what competencies you enjoy.



Haha ok ill expand on this a bit. In terms of prestige, McKinsey wins.

However on the other factors PwC wins. The major ones are work life balance and also your own learning and development. And before joining PwC I was thinking that I wouldn't get the same exposure in terms of multinational clients, C-suite executives but I was wrong. You definitely do! I would say though, be proactive!
Thanks again. Also, what's the pay and bonuses like as you progress through FftF? Please PM me if you don't want to say for everyone to see!

Does it accelerate quite quickly? Is it very dependent on which competency/which project you choose to specialise in? Do we lag behind the strategy guys much?

Also I'm quite used to being very challenged intellectually at university. I wonder if the work might be slightly more challenging at MBB? Is progressing at PwC largely about organisation, putting the hours in and social skills as opposed to doing difficult work to a high standard?

Sorry for all the questions!
0
reply
yeoldcantab
Badges: 0
Rep:
?
#17
Report 5 years ago
#17
I work for an MBB firm, and whilst hours are more intense, they aren't ridiculous - around 60 hours on average, and working one weekend day a year would be considered high. Its a different job with different pressures, and it suits different people. Just make sure you research both options at careers fairs etc.
I would also dispute the better training opportunities at PwC than MBB. Whilst I have little direct knowledge of PwC, I get the most training of any of my friends in City grad jobs. The training opportunity and range of work is why I joined the firm
0
reply
toylife15
Badges: 0
Rep:
?
#18
Report 5 years ago
#18
Hi! I have just applied for PwC and was wondering what the graduate salary for management consulting is? I am seeing everything from £26k to £32k on the internet. I have to pay for accommodation myself with no help from family in London so I have to be practical with my decisions. It would be a great help if you could let me know! thanks
0
reply
shindaabc
Badges: 0
Rep:
?
#19
Report 5 years ago
#19
(Original post by toylife15)
Hi! I have just applied for PwC and was wondering what the graduate salary for management consulting is? I am seeing everything from £26k to £32k on the internet. I have to pay for accommodation myself with no help from family in London so I have to be practical with my decisions. It would be a great help if you could let me know! thanks
London salary for consulting will be at the higher end of your estimate for sure
0
reply
Tangente
Badges: 0
Rep:
?
#20
Report 5 years ago
#20
I know one big four's London consulting salary is £31k for an Autumn 2015 start.
0
reply
X

Quick Reply

Attached files
Write a reply...
Reply
new posts
Back
to top
Latest
My Feed

See more of what you like on
The Student Room

You can personalise what you see on TSR. Tell us a little about yourself to get started.

Personalise

Do you get study leave?

Yes- I like it (204)
62.2%
Yes- I don't like it (12)
3.66%
No- I want it (89)
27.13%
No- I don't want it (23)
7.01%

Watched Threads

View All