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Management Consulting Discussion

Discussion in 'Business, Careers & Education' started by Artisan Fan, Feb 7, 2011.

  1. otc

    otc Senior member

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    What is a DD and why does it sound way shittier than a PMO?
     
  2. ramuman

    ramuman Senior member

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    DD is a due diligence - usually a complete evaluation of a company before a buyout/going public, etc.

    PMO is project management office - basically holding the hands of a bunch of low-level people and getting them to implement the senior management's.

    A PMO (at least in my experience) is like a ~60-80 hour weeks and a DD is ~120-140. I'd take a DD any day of the week though. A PMO is about as mentally dull as they come. Pure strategy cases are fun too, and about 80 hours. But it was always fun to toss around the white board marker to someone else to add to the storyboard.

    For a PMO and a strategy case, you typically have breakfast/lunch/dinner outside (and I'm including that time in the hours). DD is basically everything is catered in.

    A PMO could be multiple years, a strategy case could be 2 months or so and a DD typically is never over 3-4 weeks.

    Bear in mind, I'm a data point of one and other guys that worked at the MBB firms might weigh in a bit differently.
     
    Last edited: May 13, 2015
    1 person likes this.
  3. netseeker09

    netseeker09 Well-Known Member

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  4. orlais

    orlais Well-Known Member

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    Surprised the guy only worked ~55 hour weeks. I do roughly that and I work at a boutique. Everyone I know at Bain and BCG (don't know anyone at McKinsey personally) do a lot more, but they could just be exaggerating.
     
  5. StayImpeccable

    StayImpeccable New Member

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    Depends on the office and the project entirely; when I was at an MBB I probably averaged around 50 as a pre-MBA. If you factor in all my beach time, probably even less - I got super lucky (or unlucky if you really like working) and avoided a ton of staffing. Other friends in the same office probably averaged 60+ over the year.
     
  6. Artisan Fan

    Artisan Fan Senior member

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    I would say that 65-70 hours is more common at McKinsey now. We are really busy as our win rate on new projects is really high.

    On the plus side, there is lots more bonus to go around.
     
    1 person likes this.
  7. Artisan Fan

    Artisan Fan Senior member

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    This is pretty accurate.
     
  8. MSchapiro

    MSchapiro Senior member

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    Good times or bad I've never heard anyone from McKinsey say anything other than this [​IMG]

    That said I'm one of the few in my office not with a McKinsey background. No where better to start a career.
     
  9. Artisan Fan

    Artisan Fan Senior member

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    No question we are busier than normal now.
     
  10. rajesh06

    rajesh06 Senior member

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    Just wanted to offer my view that consulting is actually not a profession. A professional has certain requirements like a having a organized body of knowledge, credentialing, and professional discipline. "Lawyer" is a profession. "Doctor" is a profession. "Accountant" is a profession, etc.

    Anyone can call themself a consultant. It may be a career but it is not a profession.
     
    Last edited: Jan 1, 2016
  11. MSchapiro

    MSchapiro Senior member

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    The proliferation of the term consultant doesn't nessesarily errode the profession of consultant. It would be more correct probably to say management consulting is a profession.
     
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  12. Artisan Fan

    Artisan Fan Senior member

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    Strategy firms fit the definition of a profession. Regular annual and bi-annual training. Industry conferences. In some technical areas, even certifications.

    Don't confuse the industries with more regulations/credentials like investment banking and law with being more professional than strategy consulting which by its nature is less regulated due to the problem solving nature of the work.
     
  13. Texasmade

    Texasmade Senior member

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    Doesn't the definition of a true profession require a formal qualification or license to practice? If so then do y'all strategy guys actually get a designation or a license to practice like law, medicine, or accounting?

    Also, is there a regulatory body that can revoke your license to practice or bar you from the profession?
     
  14. MSchapiro

    MSchapiro Senior member

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    Oxford Definition: "A paid occupation, especially one that involves prolonged training and a formal qualification:"

    Especially, but not exclusively.

    Investment Banking also doesn't have a set qualification either.
     
  15. rajesh06

    rajesh06 Senior member

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    That was basically my point as well. Anyway - it's really just a a semantic difference.
    I come down on the side that consulting is a job, occupation, career - but not a profession. I like reserving the latter moniker - others will disagree and that is OK.

    (As an FYI - I am a Partner in a consulting firm - that is "large" but not MBB.)
     
  16. Artisan Fan

    Artisan Fan Senior member

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    No. I don't think that is true. One can have a profession where reputation is all and when you have a poor reputation, you eventually go out of business.

    The big strategy firms are very protective of their service quality and brand.
     
  17. ramuman

    ramuman Senior member

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    F has nailed the questions on MC. I used to work at one of the MBB firms and AF and I have met IRL.
     
    1 person likes this.
  18. orlais

    orlais Well-Known Member

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    Really funny reading back on this thread and seeing what people thought of the Booz acquisition. A few years on and PwC certainly came out of that with a cheeky grin.
     
  19. FLMountainMan

    FLMountainMan Senior member

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    Is an executive DBA program worth it? I'm currently an appointed official in the public sector but know that, as with all positions, my time will come to an end in the next few years. I feel like consulting will be the next step in my career (I don't like lobbying very much), and I'm wondering if getting my PhD now would be worth it. I also have a juris doctor and an MBA, if that helps.
     
  20. MSchapiro

    MSchapiro Senior member

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    Realistically I've only ever been in one meeting where the number of PhDs in a firm has come up and it was a scientific consultancy.

    If you have an MBA and JD I struggle to think of something you aren't qualified for unless you're looking for new connections or a very specific field.
     

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