View from the inside: how I view MBB vs Tier-2 when hiring on my corporate strategy team

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C-suite or business unit level strategy focused on growth or inorganic growth. Tactically it can mean a lot of things…entering new market segments, entering new countries, pre-deal M&A / PE DD…even more tactically we like to see people who analyzed things like competitive landscapes, market drivers, growth projections, growth paths, customer assessments / segmentation, etc.

The scope of my team is we do three things primarily: growth strategy, cost efficiency, M&A (we decide who we should buy as a firm, we leverage in-house bankers for the financial modeling as a resource when doing so). We also do strategic partnership to a lesser extent. A normal project would be us presenting to the operating committee that we should X. Where X is a strategic decision the firm needs to make. They are busy, super senior people, so you need to craft a concise and persuasive presentation. During this presentation we’re probably describing what competitors are doing, sayign what our customers are saying (if relevant), saying what we should do & why / or list strategic options, mapping out costs and revenue projections. Often there’s a question of How to do something (finance is complicated as hell and super regulated), so a ton of problem solving.

So we want people that can do that kind of work here.

I see a few people claim strategy consulting is bullshit or a scam. I used to think that when I was younger too, to be honest. But after seeing how poorly most things get communicated and decided in an organization, I’ve taken a 180. Most super senior MD’s in control of 100’s of people and $10’s or $100’s of millions in budget Fucking suck at communicating things to the operating committee, which wastes their time (and they get paid $10-20M a year so their time is pretty valuable), slows down decision making, and overall causes people to just miss important things.

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