Fresh Grad Advice: Local Big 4 Strategy vs Hong Kong Transaction Banking

Startegy& is at least tier 2 and is much harder to get into.

PwC Consulting is tier 3 at best.

Originally Posted by Unregistered

I think it is unfair if you are doing similar work and someone sitting beside you is getting significantly more. Do you happen to know the difference in salary between s& and pwc consulting?

In layman terms:

Strategy&, Parthenon-EY that kind is strategy consulting mah. Wholesale business and organizational transformation. Work with C-Suite. Like MBB but less prestigious.

PwC consulting is to transform or streamline processes or specific tasks. Work with middle management or regional management. Indian/Bangla grad with rando accounting degree also can do.

Originally Posted by Unregistered

In layman terms:

Strategy&, Parthenon-EY that kind is strategy consulting mah. Wholesale business and organizational transformation. Work with C-Suite. Like MBB but less prestigious.

PwC consulting is to transform or streamline processes or specific tasks. Work with middle management or regional management. Indian/Bangla grad with rando accounting degree also can do.

This is not entirely accurate.

Accenture / Big 4 Consulting do work with high-level management for certain projects.

As a matter of fact, PwC Consulting & Strategy& + EY Advisory & EY-Parthenon tend to work hand-in-hand to deliver large-scale projects too

Alas, strategy work is of less importance in the consulting sector in today's day and age. Clients want the entire package -- just look at how McK & BCG are investing in their operational practices.

Originally Posted by Unregistered

This is not entirely accurate.

Accenture / Big 4 Consulting do work with high-level management for certain projects.

As a matter of fact, PwC Consulting & Strategy& + EY Advisory & EY-Parthenon tend to work hand-in-hand to deliver large-scale projects too

Alas, strategy work is of less importance in the consulting sector in today's day and age. Clients want the entire package -- just look at how McK & BCG are investing in their operational practices.

If you want to look at it strictly, even McK's and BCG's expert / operational / implementation track is less prestigious than their traditional strategy generalist track. Yes, the consulting industry is rapidly transforming. But ask any consultant in MBB and they will tell you the generalist consultants have better prestige and get more perks (e.g. ease of getting MBA scholarship, generally better brand equity and perception to future employers / MBA schools)

That being said, generalist consultants are increasingly doing implementation work. But what we are talking about here is the perception and personal branding. You may be in Strategy& doing implementation work but who cares? To your next employer, you're still better served with the S& brand.

Originally Posted by Unregistered

If you want to look at it strictly, even McK's and BCG's expert / operational / implementation track is less prestigious than their traditional strategy generalist track. Yes, the consulting industry is rapidly transforming. But ask any consultant in MBB and they will tell you the generalist consultants have better prestige and get more perks (e.g. ease of getting MBA scholarship, generally better brand equity and perception to future employers / MBA schools)

That being said, generalist consultants are increasingly doing implementation work. But what we are talking about here is the perception and personal branding. You may be in Strategy& doing implementation work but who cares? To your next employer, you're still better served with the S& brand.

Don't get me wrong, I am not trying to take prestige away from Tier 2s & MBBs.

But let's face it: strategy work is literally not as glamorous in the past. The world of consulting is basically centred around digital transformation in today's world.

You can storyboard / build all the models in the world, but clients are more concerned about the change/implementation aspect of the project.

Thus, even if you are working at Accenture, Big 4 Consulting or even Tier 3s, there is still a good chance that you will get to interact and meet with influential people in the industry.

Originally Posted by Unregistered

I think it is unfair if you are doing similar work and someone sitting beside you is getting significantly more. Do you happen to know the difference in salary between s& and pwc consulting?

Similar to what have been said in the first page of this thread. Strategy& and Parthenon follow a different pay scale compared to their advisory or consulting counterparts in PWC and EY.

A fresh undergrad associate at S& or Parthenon easily earns twice as much as their A1 counterparts in advisory/consulting.

Unfair? A1s are guaranteed yearly promotion so you could say eventually the pay will converge when they hit S2/M1 Level.

There are definitely overlaps in the tasking and the pay discrepancy is largely due to the clientele.

EY/PWC

Associate (A1) $3,000
Associate (A2) $3,500 *after 1 year
Senior Associate (S1) $3,800 *after 2 years
Senior Associate (S2) $4,200 *after 3 years
Manager (M1) $5,000 – $6,000 *after 4 years
Manger (M2) $6,000 – $7,000 *performance based

Parthenon/Strategy&

Associate $4,000 - $6,000
Senior Associate $6,000 - $7,000 *performance based

PwC Deals pays around 4.5kish for fresh grads.. dont think 3k is accurate

Originally Posted by Unregistered

EY/PWC

Associate (A1) $3,000
Associate (A2) $3,500 *after 1 year
Senior Associate (S1) $3,800 *after 2 years
Senior Associate (S2) $4,200 *after 3 years
Manager (M1) $5,000 – $6,000 *after 4 years
Manger (M2) $6,000 – $7,000 *performance based

Parthenon/Strategy&

Associate $4,000 - $6,000
Senior Associate $6,000 - $7,000 *performance based

May be right for parthenon, very wrong for strategy&.

My brother from INSEAD has batch mates in strategy&. Start as SA1 level, pay is ~12k. Their associates start from 6.3ish.

Normal pwc consulting / deals managers only earn ~high 6k. Its a world of difference not only in prestige but also salary package. My bro ultimately went to ATK and its similar salaries.. not much difference.

I strongly believe the bro above thinks the pay scale for parthenon is similar to s&, but it is not - i assure u. At least not in Singapore.

Originally Posted by Unregistered

Similar to what have been said in the first page of this thread. Strategy& and Parthenon follow a different pay scale compared to their advisory or consulting counterparts in PWC and EY.

A fresh undergrad associate at S& or Parthenon easily earns twice as much as their A1 counterparts in advisory/consulting.

Unfair? A1s are guaranteed yearly promotion so you could say eventually the pay will converge when they hit S2/M1 Level.

There are definitely overlaps in the tasking and the pay discrepancy is largely due to the clientele.

Parthenon pay not same tier as S&.