Management Consultant MBB Big4 etc etc etc - Salary.sg Forums
Salary.sg Forums  

Go Back   Salary.sg Forums > The Salary.sg Discussion Forums: > Income and Jobs

Income and Jobs Discuss jobs, career options and of course salaries




Management Consultant MBB Big4 etc etc etc

Reply
 
Thread Tools
  #1 (permalink)  
Old 01-08-2016, 05:18 AM
Junior Member
 
Join Date: Jul 2016
Posts: 7
thereo is on a distinguished road
Default Management Consultant MBB Big4 etc etc etc

Hey guys,

I'm learning these days what the consulting landscape looks like in Singapore. I'm currently in the US doing my PhD study. After my undergrad in Singapore, I was in government sector for 3 years. I came to the US to further my study afterwards. I'm toying with the idea of coming back to Singapore or stay in the US for more experience.

Regarding the consulting jobs, I don't see any discussion or a bit of interest in local community here. I might be wrong. I checked the current salary thread, and didn't see much info for consulting jobs. I wondered if it's because all consultants from MBB never visit this site to post their salary or we don't have any info for their current market salary? OR consultants population in Singapore is very low?

I knew from my personal experience that MBB in China are now aggressively hiring PhD graduates in the US. I don't know much about Singapore though.

If you have any idea, I'd like to listen to yours.

Reply With Quote
  #2 (permalink)  
Old 01-08-2016, 12:55 PM
Unregistered
Guest
 
Posts: n/a
Default

Most MBB management associates are from international branded schools who already secured an offer before graduation, that's why you are not going to see much discussion online.

As for Big4 "management consulting", it's very different in SG compared to US. Over here their branding is not much different from entry auditors - more like sweatshop mass hires of average grads and ranked lower than even associate hires of local banks/GLC.

Reply With Quote
  #3 (permalink)  
Old 02-08-2016, 12:14 AM
Junior Member
 
Join Date: Jul 2016
Posts: 7
thereo is on a distinguished road
Default

I see.

Yes, it's hard to find any information on consulting landscape in Singapore although it's plenty here in the States.

Thank you so much!

Reply With Quote
  #4 (permalink)  
Old 02-08-2016, 03:34 AM
Unregistered
Guest
 
Posts: n/a
Default

I was with MBB in Singapore. US MBA. Most of the ASEAN business is outside of Singapore. I.e. Indonesia can be 50% of the region's revenue. So you fly out on Monday and return Friday, and repeat the cycle.

What specifically would you like to know? Pay is about 80% of US scale.


SG Bus Timing App
SG Bus Timing App - the best bus app - available on iOS and Android


SGX Stocks Android App - check share prices
SGX Stocks [Android] App - check latest share prices on the go


SGX Stocks for iPad - check latest Singapore share prices
SGX Stocks [iPad] app
| SGX Stocks [iPhone] app
Reply With Quote
  #5 (permalink)  
Old 02-08-2016, 04:11 AM
Junior Member
 
Join Date: Jul 2016
Posts: 7
thereo is on a distinguished road
Default

I'd like to know more about the workload and exit options. Can I PM you?

Seems you don't have an account.
Reply With Quote
  #6 (permalink)  
Old 02-08-2016, 09:25 AM
Unregistered
Guest
 
Posts: n/a
Default

Former consultant here. European MBA. Why don't you post your questions here so everyone can benefit...
Reply With Quote

  #7 (permalink)  
Old 02-08-2016, 10:40 AM
Junior Member
 
Join Date: Jul 2016
Posts: 7
thereo is on a distinguished road
Default

Well, first I don’t see much of the discussion on Singapore consulting here. So I thought it’s not very public here in Singapore.

My understanding is McKinsey first opened their SEA office in Indonesia and later spread to other regions. Considering the heavy workload nature of the region, Singapore doesn’t seem to have much of the management consulting to do (highly educated, highly efficient working policy in place, etc etc, I’m not talking about auditing.) whereas you can have so many management policy in Thailand, Malaysia, Indonesia, or Philippines. They still have so many rooms to grow like business expansion, start up companies, M&A etc etc etc.

Bottom line is Singapore is a developed country, and almost saturated with all the working policy in place. All others are still developing. So management consulting would be more beneficial to them rather than in Singapore. I’m not taking a swipe at other regions. I’m being realistic about what’s going on in the region. Based on that perception (correct me if I’m wrong.)

1. I venture to guess if there would be more recruitment of consultants in those countries in near future, Thailand, Malaysia or maybe in Vietnam (I saw one flyer consulting recruitment for Vietnamese office at my school campus.) phasing out Singapore office (reduction) and gradually going upwards ?

2. Since you all are ex MBB consultants in Singapore, can you share your travelling schedule? It depends on your project or which region you travel the most?

3. You said 80% of the US pay scale (I don’t know who is who, all are unregistered here). For e.g., It is USD 100k in the US, so it would be USD 80k in Singapore. Converting to SGD, it would be ~ SGD100k?

4. Since you all are ex-consultants, would you mind sharing why you decided to switch to other professions?

If any of you could shed some lights on your experience and where you are heading now, that would be really appreciated.
Reply With Quote
  #8 (permalink)  
Old 02-08-2016, 12:54 PM
Unregistered
Guest
 
Posts: n/a
Default

I am the ex-MBB US MBA posting above.

Your point re: Singapore is valid. In ASEAN countries, demand for management and strategy consulting tends to be the inverse of the state of market and human resource development. Less developed countries tend to be the bigger markets. Keep in mind also that many MNCs in Singapore, though they are Asia / ASEAN HQs, get their direction from US / Europe and thus have little discretion (or budget) for strategy engagements of their own. So, much of the revenue is from locally-born businesses and govs, and these tend to be from Indonesia, Thai, Malaysia, Phil, etc.

Major client industries are Financial Service (by far), Oil & Gas and Telecom. There are some sprinkles of Retail, Manufacturing and Public Sector/Gov. Why FS is by far the largest? This is mainly driven by # of clients who can afford an MBB rate. When there are many potential clients, you can fill a revenue pipeline. When your client base is smaller (fewer telcos vs. banks in a typical country), your revenue gets lumpier.

Yes, McK (and BCG) got their start in ASEAN doing Oil & Gas in Indonesia back in 1995-6. Bain joined the scene much later.

A PhD is valued by MBB. But I believe McK values it more, and you may find more PhDs at McK. McK also invests more in economics think tanks like MGI than BCG and Bain do, if that kind of work appeals to you. I think they want to speak at Davos more than the rest

Travel schedule varies according to firm's staffing model and your specific client / engagement situation. McK in general is a more global firm than BCG or Bain. The more global the firm is, the likelier long travels (6 hours+) are. BCG in ASEAN tends to focus solely on regional clients and build stronger local roots, so your travels are not long (2-3 hours max). YMMV, but if you are an expat consultant from US wanting a 1-2 year stint in Asia, McK model works for you since you have a built-in chance to rotate back to home. If you are a local, perhaps BCG model is more to your liking. Also, some clients are more flexible, others demand you to work at their sites (and have strict control over client data).

Regarding MNC pay in Singapore, what I tend to see is a range of 75-80% of US comp structure. This includes MBB. Pay is very much related to client hourly charging, and the hourly rates in ASEAN are about 80% of US rates. I am now at a US tech MNC and my bonus structure is pegged at 75% of my US colleague.

Mind you that you have to work harder for that 80% than your US colleagues do. Even at only 80% of US rates, MBB rates are considered very high by ASEAN clients, so the tendency is to over-scope engagements for the amount of revenue we are getting in order to win business. This means overwork as large scopes are executed by fewer consultants. Unfortunately, this is a typical situation for frontier offices, whether it be ASEAN, South America, or Africa.

Why I switched? The paragraph above is some of the answer, although for me it's not the entire picture. On the whole, I enjoy my time at MBB, enough to stay for 5 years. I like the colleagues and the client works. I simply found an opportunity outside of it that I like as much (if not more) and provides me with an equivalent financial benefit.
Reply With Quote
  #9 (permalink)  
Old 02-08-2016, 11:40 PM
Junior Member
 
Join Date: Jul 2016
Posts: 7
thereo is on a distinguished road
Default

Quote:
Originally Posted by Unregistered View Post
I am the ex-MBB US MBA posting above.

Your point re: Singapore is valid. In ASEAN countries, demand for management and strategy consulting tends to be the inverse of the state of market and human resource development. Less developed countries tend to be the bigger markets. Keep in mind also that many MNCs in Singapore, though they are Asia / ASEAN HQs, get their direction from US / Europe and thus have little discretion (or budget) for strategy engagements of their own. So, much of the revenue is from locally-born businesses and govs, and these tend to be from Indonesia, Thai, Malaysia, Phil, etc.

Major client industries are Financial Service (by far), Oil & Gas and Telecom. There are some sprinkles of Retail, Manufacturing and Public Sector/Gov. Why FS is by far the largest? This is mainly driven by # of clients who can afford an MBB rate. When there are many potential clients, you can fill a revenue pipeline. When your client base is smaller (fewer telcos vs. banks in a typical country), your revenue gets lumpier.

Yes, McK (and BCG) got their start in ASEAN doing Oil & Gas in Indonesia back in 1995-6. Bain joined the scene much later.

A PhD is valued by MBB. But I believe McK values it more, and you may find more PhDs at McK. McK also invests more in economics think tanks like MGI than BCG and Bain do, if that kind of work appeals to you. I think they want to speak at Davos more than the rest

Travel schedule varies according to firm's staffing model and your specific client / engagement situation. McK in general is a more global firm than BCG or Bain. The more global the firm is, the likelier long travels (6 hours+) are. BCG in ASEAN tends to focus solely on regional clients and build stronger local roots, so your travels are not long (2-3 hours max). YMMV, but if you are an expat consultant from US wanting a 1-2 year stint in Asia, McK model works for you since you have a built-in chance to rotate back to home. If you are a local, perhaps BCG model is more to your liking. Also, some clients are more flexible, others demand you to work at their sites (and have strict control over client data).

Regarding MNC pay in Singapore, what I tend to see is a range of 75-80% of US comp structure. This includes MBB. Pay is very much related to client hourly charging, and the hourly rates in ASEAN are about 80% of US rates. I am now at a US tech MNC and my bonus structure is pegged at 75% of my US colleague.

Mind you that you have to work harder for that 80% than your US colleagues do. Even at only 80% of US rates, MBB rates are considered very high by ASEAN clients, so the tendency is to over-scope engagements for the amount of revenue we are getting in order to win business. This means overwork as large scopes are executed by fewer consultants. Unfortunately, this is a typical situation for frontier offices, whether it be ASEAN, South America, or Africa.

Why I switched? The paragraph above is some of the answer, although for me it's not the entire picture. On the whole, I enjoy my time at MBB, enough to stay for 5 years. I like the colleagues and the client works. I simply found an opportunity outside of it that I like as much (if not more) and provides me with an equivalent financial benefit.

Thank you so much for your insight.
I'd appreciate it.

Here in the US, most of the consultants went to PE after several years of consulting. I asked the exit option in Singapore, not because of commitment issue, rather a viable option if things don't work out.
Reply With Quote
  #10 (permalink)  
Old 03-08-2016, 10:42 AM
Unregistered
Guest
 
Posts: n/a
Default

Exit options from MBB are varied. In ASEAN, there are the family-owned conglomerates, MNCs of all kinds, banks, and yes PEs. I see many of my ex-colleagues went to local conglomerates. This is interesting since my gut instinct told me that most would go to US MNCs. It turns out that for the same pay, the conglomerates give them higher positions and responsibilities, so that is a definite draw.

PEs are not (yet) a prominent fixture of the capital market in Southeast Asia. Unlike in the US where the VC/PE market has a balance of techies, ex MBBs and ex IBs, in Singapore my sense is it is dominated by ex IBs. This probably has to do with the fact that most of the deals so far are later-stage or mature deals where the emphasis is in "doing the deal"... vs. early-stage investments where you have a better chance to shape the business. This may change given the wave of tech startups that have been coming to the scene in the last 1-2 years.

Quote:
Originally Posted by thereo View Post
Thank you so much for your insight.
I'd appreciate it.

Here in the US, most of the consultants went to PE after several years of consulting. I asked the exit option in Singapore, not because of commitment issue, rather a viable option if things don't work out.
Reply With Quote
Reply

Bookmarks

« Previous Thread | Next Thread »
Thread Tools

Posting Rules
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Big4 bitemee Income and Jobs 13 01-05-2015 02:36 PM
what is the role of management consultant in big 4 advisory? asd123 Income and Jobs 6 12-03-2015 08:22 PM
benefits in Big4 Management Consultancy boongaylim Income and Jobs 20 19-01-2015 09:10 PM
IDA consultant/senior consultant pay range/benefits? scorcho Income and Jobs 2 17-07-2014 07:22 PM
Salary of Change Management Consultant in NCS? Devjyoti Income and Jobs 1 02-03-2014 04:47 PM

» 30 Recent Threads
ST Electronics ( 1 2 3... Last Page)
1,321 Replies, 325,540 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
1,136 Replies, 875,506 Views
SIM-UOL fresh grad starting pay ( 1 2 3... Last Page)
4,085 Replies, 1,410,948 Views
Keppel Associate Programme 2018 ( 1 2)
16 Replies, 11,375 Views
Career as Teacher ( 1 2 3... Last Page)
3,033 Replies, 1,904,131 Views
Career as a quant... ( 1 2 3... Last Page)
43 Replies, 42,700 Views
Lawyer Salary ( 1 2 3... Last Page)
10,056 Replies, 3,372,451 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
2,871 Replies, 1,251,454 Views
How much are you earning per annum? ( 1 2 3... Last Page)
12,139 Replies, 3,954,821 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
3,575 Replies, 2,126,531 Views
OCBC Graduate Talent Programme... ( 1 2 3... Last Page)
532 Replies, 154,356 Views
UOB Management Associate Program ( 1 2 3... Last Page)
392 Replies, 211,049 Views
DBS Graduate Associate Program ( 1 2 3... Last Page)
774 Replies, 399,112 Views
DBS tech seed programme ( 1 2 3... Last Page)
245 Replies, 40,444 Views
Starting pay for fresh uni grad... ( 1 2 3... Last Page)
142 Replies, 8,238 Views
How is life as a doctor in... ( 1 2 3... Last Page)
1,709 Replies, 1,063,400 Views
Where would you invest your money... ( 1 2 3... Last Page)
30 Replies, 17,484 Views
Ex-MOE Teachers ( 1 2 3... Last Page)
117 Replies, 131,056 Views
Advice for SAF regular pls
9 Replies, 1,190 Views
Usually is it ok to HR recruiters...
5 Replies, 1,411 Views
High Finance Thread ( 1 2 3... Last Page)
156 Replies, 37,921 Views
OCBC mortgage specialist
3 Replies, 3,333 Views
just want to know ur opinion
0 Replies, 182 Views
Compare civil service salary ( 1 2 3... Last Page)
11,219 Replies, 6,254,709 Views
Salaries for Tech Product Manager
8 Replies, 2,527 Views
What course should I undertake? ( 1 2)
17 Replies, 9,118 Views
SIA Technical Services / Aerospace... ( 1 2)
10 Replies, 9,591 Views
Singtel Management Associate... ( 1 2 3... Last Page)
181 Replies, 106,074 Views
Comp Science Frsh Grad Salary ( 1 2 3... Last Page)
526 Replies, 19,153 Views
Aircraft Maintenance License and... ( 1 2 3... Last Page)
646 Replies, 482,096 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 02:13 AM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2021, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2