EY partner salaries - not MBB, but MAD - jobs in UK, US, Europe - small firms - Big Four appointments and more in Don Leslie's consultancy newsletter

December 2022 Consultancy Newsletter

It’s almost the end of the year and there’s a hint – just a hint – that consultancies might be putting recruitment on hold while they assess the impact of recession and inflation on their pipeline of work. But we’ve been here before. Firms pause hiring, and then start again once client demand kicks in, be it for rescue or expansion. Industry research company https://www.sourceglobalresearch.com/ reports that US businesses are concerned about the global macroeconomic situation but consultancies are confident that their help will be needed more than ever, as businesses press on with their ambitious, post-pandemic corporate goals. https://tinyurl.com/ykbh9p9e ??

As you probably know, I’m ex-Deloitte, an ex-consultancy recruiter and now guide to those who want to make a career for themselves in strategy and management consultancy. I do this to help others discover this fascinating and rewarding profession. I scour the internet and the professional press for information which may help you find consultancy jobs, some of which I cover below. Please feel free to circulate this newsletter.

McKinsey’s bad press?-?European openings for Bain, BCG?-?Kearney in SE Asia?-?fashion consulting?-?EY partner salaries?-?papal blessing?-??French hires wanted?-??case interview presentation tips?-?move over MBB, it’s now MAD?-?fee income for FS?-?Big Four appointments?-?boutiques swallowed?-?new Aus office

US website AskTheHeadhunter.com came across this statistic in an article from CareerPlug, an employment software company. In 2020 it surveyed job boards – and found them the least likely source of hires. “An applicant who applied directly from a company careers page was 23 times more likely to be hired than an applicant from a job board. An applicant who applied from a referral was 85 times more likely to be hired than an applicant from a job board.” Those of you who have heard me speak about the back door entry method of recruitment will know I bang on about the power of referrals…?https://tinyurl.com/4zznrkh8

Who’s the best of the best consulting firms? SourceGlobalResearch.com?https://tinyurl.com/4m7k6dn3 ?says MAD, not MBB – McKinsey, Accenture and Deloitte.

Big Four News

·???????EY’s plan to split off its consultancy practice from the rest of the firm (see earlier stories at https://www.donleslie.uk/management-consultancy-newsletter-july-2022/ and https://www.donleslie.uk/management-consultancy-newsletter-june-2022/ ) is encountering resistance from its Israeli partnership. (Financial Times: subscription required)

·???????The Pope blessed Deloitte, a first for the consulting industry. 500 Deloitte staffers went to The Vatican to hear the Pope tell them how they can make the world a better place, at an event coinciding with a gathering in Rome of Deloitte leaders to discuss the firm’s strategy. https://tinyurl.com/335ps8hr ??

·???????KPMG International has a new Head of Global Deal Advisory, Liz Claydon. The UK Deal Advisory practice has also promoted 21 new partners, who join 130 partner colleagues in the advisory unit.?https://tinyurl.com/yck9j8re ??

·???????EY partner remuneration averaged just over ￡800,000 in the UK for 2022, reports FT.com (registration required.)

·???????PwC’s Luxembourg consultancy arm billed €117m (a 14% increase), whilst PwC's global consulting business saw a 24% jump to $20.7bn in the 2021-22 financial year ?https://tinyurl.com/mv89aawu

·???????Deloitte UK has a new Managing Partner of Consulting, Rob Cullen. https://tinyurl.com/ytj5c9vt

·???????After months of turmoil, KPMG Lower Gulf has appointed Emilio Pera as its new CEO. (See original story https://www.donleslie.uk/management-consultancy-newsletter-august-2022/ ) https://tinyurl.com/2p9a7kzc ?Jobs in Abu Dhabi and Dubai are listed here https://tinyurl.com/yck3zcej ???

Which business newspapers and journals do you read to prepare for interview? The Harvard Business Review is 100 years old.?https://tinyurl.com/mvz9jyxu ?You can download a free copy of its first issue from October 1922 here: https://tinyurl.com/3vdw7wy2 ?

Meet the New Boss(es)….maybe new team members required too.

·???????PA Consulting has promoted nine new partners in the UK and US, reflecting the firm’s growth in key markets and sectors. PA has over 4000 consultants – strategists, innovators, designers, digital experts, scientists, engineers and technologists who work for clients in consumer goods and manufacturing, defence and security, energy and utilities, financial services, government and public services, health and life sciences, and transport, from offices in Ireland, The Netherlands, Scandinavia, the US and the UK. https://tinyurl.com/4ar7axjb ?There are over 180 consultancy roles advertised on its portal https://tinyurl.com/yc32m4my ??

·???????Strategy house Oliver Wyman has appointed 78 new partners and directors in over twenty cities including London, Paris, New York, Tokyo….and Newcastle.??https://tinyurl.com/bdddfr4e ?They join 6,000 consultants in 30 countries.

·???????KPMG UK has added two new managing directors to its Special Situations and Turnaround Unit, Sharon Taylor and Lloyd Williams. The team helps organisations survive and thrive in uncertain financial times….perhaps a harbinger of things to come. https://tinyurl.com/bdz7zete

·???????Former UK civil servant Michael Hurwitz joins PA Consulting’s Future Mobility practice, a unit at the overlap of Transport and Energy & Utilities industry verticals which works on clean and smart mobility. https://tinyurl.com/y963ybbj

·???????Carry Denny becomes partner in PA Consulting’s Consumer and Manufacturing practice. https://tinyurl.com/4787dfsd

·???????BCG has appointed its first Chief Diversity Officer, Nadjia Yousif.?https://tinyurl.com/zzk3jvjp ?She will work on diversity, equality and inclusion matter both inside the firm and with clients.

·???????KPMG’s new venture capital joint venture, Acceleris, has been approved by the UK’s Financial Conduct Authority and will be run by a leadership team which includes new partner Sarah Abrahams.?https://tinyurl.com/2p85vbhc

·???????Wipro, the major Indian technology and business consultancy with over 250,000 consultants in 60 countries, has appointed a new Head for its Australian and New Zealand practice, Christopher Smith, who is an MBA from AGSM. https://tinyurl.com/357e9kw6

·???????James Wilde joins Kearney’s Consumer Industries and Retail practice.?https://tinyurl.com/mrxuf5wr ??

The 19 finalists for the 2022 UK Management Consultancies Association awards were featured in a report published by The Times newspaper on 28th November 2022. Click through here?https://tinyurl.com/2sdabs7y ?to access. Quite a few small firms are listed - which might be worth researching…

New Offices….perhaps new hires required

·???????Communications consultancy Liquid has arrived in Brisbane, Australia. Once it’s up and running it will be hiring there, and offering internships in both Australia and the UK, where it is headquartered. https://tinyurl.com/bdezrmsx ?

·???????Bain & Co has announced yet another office, this time in Vienna (see previous newsletters ?for other recent openings.) This is the firm’s 23rd in Europe. Vienna is rated as one of the world’s most liveable cities. Bain offers an international transfer programme, which permits consultants to move to other offices for two years. https://tinyurl.com/4tt7cx8m

·???????European supply chain and procurement consultancy Inverto, part of BCG, has launched two new sites in Germany, Hamburg and Frankfurt. The consultancy has 11 offices in Europe and one in Shanghai, making it well placed to benefit from the strong demand for procurement and supply chain expertise as major disruption hits global logistics services.???https://tinyurl.com/3azfe7uc

·???????Dutch strategy and integration consultancy Metys hangs out its shingle – this time in Milan, following its launch in Paris last month. The firm now has over 1,000 consultants in 13 countries?https://tinyurl.com/23jw5z96

·???????Kearney has arrived in The Philippines. This is the firm’s 16th office in South East Asia.?https://tinyurl.com/2p8s9j3t

·???????Boutique strategy firm CIL now has a presence in Paris and is looking for both talented local graduates and experienced professionals to join it there. The October ?newsletter (https://www.donleslie.uk/october-2022-consultancy-newsletter/ ) reported on the recent launch of a new CIL practice in pricing. And it has just appointed a new partner, Mark Jeynes, to its Education and Training practice. xxx https://tinyurl.com/yyyuv7b3 ?and https://tinyurl.com/mwr59984 ????

US website Managementconsulted.com has an interview with an MBA who worked in the US for both BCG and Bain?https://tinyurl.com/3mebxrx5 ?

McKinsey on the naughty step

·???????Hundreds of public sector bodies in the US have agreed a new settlement with McKinsey over the firm’s involvement in the opioid scandal https://tinyurl.com/prv84n7r (Reuters - requires registration). The firm has already accepted a $600m agreement to end claims from US States.

·???????Reuters reports that France’s financial prosecutor has opened a probe into suspected favouritism and alleged illegal financing of President Emmanuel Macron’s 2017 campaign, in connection with McKinsey contracts. Police raided McKinsey’s Paris office in relation to an investigation into suspected tax fraud.?https://tinyurl.com/yc2tpmw4

The financial services sector generated $285bn in fees for the consulting industry in 2021, some 26% of the total market. It grew by 9% over 2020. For 2022, the expectation is 10% growth, says research firm Source. https://tinyurl.com/2wws76cj ??

Who’s eating Who?

·???????McKinsey has bought supply chain specialists SCM Connections, a 45-strong boutique https://tinyurl.com/4kc34c5m

·???????AMR International, a boutique strategy house with offices in London, Paris and New York, has been acquired by US strategy house Stax https://tinyurl.com/2pu2h2h8 ?giving it a bridgehead for European expansion.

·???????UK creative agency 23red has been bought by Capgemini Invent.?https://tinyurl.com/yuajb5rr ?It works mainly with public sector and third sector clients.

New employment legislation in the US states of California and New York requires employers to state the salary range of a role in a job advertisement, according to the New York Times https://tinyurl.com/3m8xc647 ?(subscription required)

How to get a Job in Consulting, by BCG’s Head of Recruiting – Business Insider website (requires subscription) https://tinyurl.com/5mst37fc

The BBC spent ￡5m last year on consultants, says newspaper The Daily Mirror. https://tinyurl.com/2w4c2b4a ??￡2m went on strategy, ￡1.8m on financial advice, ￡800k on HR issues, and ￡500k on IT. McKinsey was paid ￡1.2, and PwC and Deloitte ￡1.1m each.

UK digital transformation boutique Chaucer often gets a mention in my seminars as an example of a low profile small firm which in fact is part of something much bigger. Mid-sized Italian consultancy Bip (4,500 consultants in 13 countries) bought the firm two years ago and has now rebranded Chaucer as Bip UK and Bip US. https://tinyurl.com/yw7p9bdk ?See https://tinyurl.com/3phtdrrd ???????for roles with Bip in London and Cambridge (Mass.)

Interested in consulting to the fashion industry? Try UAE headquartered https://tinyurl.com/bdevdrs3 ??Ollen Group and its careers pages https://tinyurl.com/2k2ayv7z ??????The firm focuses on Africa and the?Middle East. Global heavyweight Kearney features fashion here ?https://tinyurl.com/2p9fsxsf

Website Managementconsulted.com lifts the lid on a new type of case interview, the case interview presentation.?https://tinyurl.com/y4sfwe8z ?And website preplounge.com outlines the various types of written tests set by consulting firms.??https://tinyurl.com/59errv9z

New in Town

·???????SalesFitness is a new consultancy based in Leeds and Middlesborough which aims to improve the sales and business development skills of organisations.?https://tinyurl.com/yc24k3j2 ???

·???????The University of Nottingham is to host the new office of KPMG in Nottingham on its Castle Meadows campus. ?https://tinyurl.com/y9nab37h

I’m always pleased to hear from new entrants to consulting who will share their interview experiences with me. They include: Birmingham undergrad to IBM London; Bradford MSc to Deloitte Greece; Coventry undergrad to Alix Partners London; Cranfield MSc to Capgemini Invent London; Durham MBA to Go Beyond London; ?EML Masters to Talan Paris; Nottingham MSc to BCG Hamburg; Nottingham MSc to Gartner London; Nova MBA to Deloitte London; Queens undergrad to Deloitte London; RHUL undergrad to Deloitte London; Strathclyde EMBA to BCG Zurich; Trinity MBA to Capco Hong Kong; UCD MBA to KPMG London;?WBS MBA to GoBeyond London; WBS EMBA to PwC Toronto.

During November I delivered seminars and webinars for Glasgow University’s Adam Smith School, Newcastle University Business School, Cranfield School of Management, Lancaster University Management School and Durham Business School, and was hosted on a webinar by website MBA-Exchange. There were also 1:1 coaching days run for Bayes Business School and WBS.

In the New Year I’ll be visiting Aston Business School, Strathclyde Business School and EMLyon.

Back copies of the newsletter are here on LinkedIn https://www.dhirubhai.net/in/donfleslie/recent-activity/posts/ ?and my website https://www.donleslie.uk/newsletter/

The next edition will be published at the beginning of January.

Don Leslie?Careers and Consultancy?London?+44 (0)203 051 8540

?+44 (0)7812 056 652?[email protected] ?www.donleslie.uk