10 Issues that hold Deloitte Consulting back

Deloitte Consulting is not a global partnership. Each region, country, and sometimes regions within a country, like India, operate as different legal and economic entities. They have separate P&Ls. This means no one office can tell a region what they need to do. If quality drops, or an office is unwilling to meet the standards of true management consulting excellence, an office can merely advise. 10 issues that hold Deloitte Consulting back The fact that Deloitte Consulting is not a global partnership is a major weakness. Many of the ten problems we listed below stem from this point. 1) There are standards differences between offices. There are tremendous standards differences between Deloitte Consulting offices. If you held up a report from the Santiago office, Indian offices, Australia and New York, USA, you would see different branding, quality standards, references, etc. This is a big problem. When pursuing a global client like Toyota, Deloitte Consulting will claim it is a global firm, but in reality the office which sold the work understands the differences between countries and will try to do all the work itself. 2) Different partnerships breeds mistrust. Different partnerships breeds mistrust. This need to hoard work means that Deloitte Consulting does its…

Interviewing a Deloitte S&O Principal

Today’s Interview is with a partner in Deloitte’s Strategy and Operations practice. He holds an MBA from the Harvard Business School and an AB, both with highest distinction. Why did you agree to this interview? I liked the idea of an anonymous interview. Although this format does not personally change my answers, it removes the pressure of sticking to the so-called party line. This is an opportunity to provide an honest perspective on consulting and Deloitte Consulting. I also think more needs to be written and discussed about DC besides the high-level features and pieces I see in the press and business schools. There are some who think that Deloitte is a tier-2 management consulting practice trying to be McKinsey. What do you say to that? I do not think we are a tier-2 consulting practice. Neither are we trying to be McKinsey. Most people know only the audit side of Deloitte and use that knowledge to make assumptions about DC. Our work, the kind of people we recruit, our growth, our client response and employee feedback all indicate that we are good and getting better at a very, very fast rate. To me that is more important; the rate…

Deloitte S&O New York Principal Interview

Monty is a principal with Deloitte’s Strategy & Operations practice in the tri-state area, primarily working out of the New York office. He holds an MBA from a top-5 school, an engineering degree and has worked around the world for Deloitte. Could you introduce Deloitte Strategy & Operations, Deloitte Consulting and Deloitte to our readers? Deloitte is a global professional services firm based in the UK; it is no longer a Swiss Verein. It comprises of tax, audit, consulting and financial advisory services as the core businesses. Each of these divisions is wholly owned by Deloitte, although the employees belong to separate legal entities – partnerships as you call them on the blog. Deloitte Consulting is one of the largest divisions hiring tens of the thousands of consultants. Consulting focuses on human capital work, technology and strategy & operations (S&O). There are other areas but these are the largest of them all. So S&O is the part of Deloitte Consulting which only focuses on strategy and operations work. Leadership and organizational design consulting, for example, would be done out of Human Capital and technology consulting work would be done out of technology consulting. S&O is large and growing rapidly. It…

Consulting Billable Hours Model In Management Consulting

Why The Consulting Billable Hours Model Does Not Work For Consulting Firms Today I want to talk about the billable hours model and why it is unsuitable for management consulting. I have had a lot of discussions about the billable work model with aspiring management consultants, clients currently working for consulting firms, and other people in our network. I find that most consultants misunderstand the problem with this model. One misunderstanding I would like to address is that the billable hour model is not bad. It is a fine model. The problem is that it is inappropriate for management consulting. This is worth discussing because most consultants are quick to conclude that this model is poor without providing a convincing reason. We insult accounting firms for using the hourly rates model purely because we assume that if accounting firms are using it, it can’t be good, or if lawyers are using it, it can’t be good. On the contrary, the billable hours model works well for these two professions. Management Consulting Work  - How The Billable Hours Model Works In the billable hour model, you have a consultant at, for example, Deloitte, who is going to be measured on the…

Consulting Application Process

Consulting vs banking: 4 key differences

Consulting vs Banking: 4 Key Differences Many FC members, especially those currently completing an MBA, are considering consulting vs banking. I had a privilege to work in both fields so I can compare the pros and cons of both based on my own experience. Below are some key differences I noticed in being exposed to both environments. Four key differences when comparing consulting vs banking Asset vs resource: The number one difference for me when comparing consulting vs banking is what I call asset vs resource. In consulting a lot is invested in your development and you are treated as a valuable asset to the company. People are the most important asset for consulting firms and while there is the up or out policy pressure, you do have to compete with only top performers on a daily basis, you do feel very clearly that YOU are important and your development as a professional is important for the firm. In banking, you are a resource. Your development is, to a large degree, not important. If you deliver results they will promote you. If you don't they will push you out, or to the side. I have seen VPs being demoted, senior…

Group Case Interview

Consulting Group Case Interview: What to Expect and How to Prepare

Consulting Group Case Interview: What to Expect and How to Prepare As you probably know, the leading consulting firms use case interviews to evaluate job applicants before extending offers. Some consulting firms use a group case interview as part of the evaluation process. If you have a group case interview coming up you are probably thinking, “How can I set myself up to do well?” In this article, we provide some advice on how to succeed in a group case interview. What is a group case interview? A group case interview includes a few candidates being interviewed simultaneously within the same room, with the same interview and with the same case problem. Candidates are usually given copies of the case to read. A group case interview usually takes place after initial 1-on-1 evaluations are completed, like resume screening and the PST. So only the best candidates would generally be attending a group case interview. For example, if you are going through consulting case interview recruitment process during an MBA, consulting firms will usually do first-round interviews on campus. This will allow firms to select the best few candidates to invite for second-round interviews, which may include a group case interview.…

Client Testimonials

Deloitte S&O MBA declines McKinsey for Corporate

I have many great moments of working with Michael but the most far-reaching moment occurred when I received offers from McKinsey and a Fortune 500 company to join as a strategy manager. I had been a Senior Consultant at Deloitte S&O in London and was wrapping up my MBA. I thought the decision was a no-brainer. All my friends were high-fiving me for getting into McKinsey – it was a bad year for recruiting and only a few people got in. Michael provided a new perspective for me. He pointed out that by going to McKinsey as an associate I was actually taking a step back because I had already been the Deloitte equivalent in a fairly good office. He also showed me – which he proved via a simple LinkedIn search while sharing screens – that the role I was offered as strategy manager was something I may or may not get after McKinsey, and if I did, it could only happen after spending about 2 or 3 years as an associate. He basically said that the strategy manager role is the role people take after working at McKinsey for a few years and I was being offered it…