May 2019 newsletter for strategy and management consultancy

Don Leslie: www.donleslie.uk

Newsletter for strategy and management consultancy

lists you love  –  new office openings, from Lebanon to London  –  KPMG in the news  –  four of the top ten creative agencies are really management consultancies  –  PA Consulting’s record results  –   too young for consulting?  –  no interviews: where you went wrong  –  McKinsey and Bain, by their new consultants

It’s never too early to start preparing for applications and interviews, especially when the competition is likely to be fierce. And this is particularly true of the strategy houses. I’ve come across two articles on the US website Poets & Quants www.poetsandquants.com which will help. The first contains advice from recently hired Bain consultants on interviewing at the firm and the necessity of “simplifying” https://poetsandquants.com/2019/04/03/meet-bain-companys-mba-class-of-2018/  Also read about McKinsey’s “obligation to dissent” https://poetsandquants.com/2019/03/26/meet-mckinseys-mba-class-of-2018/  and the firm’s “truth to power” culture.

Not sure who to apply to? Then these listicles might help. The Financial Times has published a survey of leading UK consultancies https://ig.ft.com/special-reports/rankings/uk-management-consultants/2019/ and UK website Consulting.uk  www.consulting.uk has extracted the best UK consultancies to work for, from a top employers list compiled by The Sunday Timeshttps://www.consultancy.uk/news/20946/ten-leading-consulting-companies-to-work-for-in-the-uk Not to be outdone, LinkedIn has created its own list  https://www.linkedin.com/pulse/top-companies-2019-where-uk-wants-work-now-katie-carroll/  which features some less well-known consultancies.  Across the Pond, Fortune magazine looks at the Great Place to Work list of the, er, great places to work in US consulting and professional services http://fortune.com/2019/04/23/best-places-to-work-consulting-professional-services/

Work Permit problems? The Middle East has always been a much easier place to get work permissions than other regions. Here’s a roundup of some recent local consultancy news: Indian prop-tech consultants Estater have launched in Bahrain https://www.arabianbusiness.com/news/416971-bahrain-welcomes-first-proptech-company-estater ; Dutch branding consultancy Skyne are basing themselves in Lebanon https://www.skyne.com/dubai-based-strategy-design-firm-skyne-creative-visionaries-launches-lebanon-branch/ ; and US strategy house Corporate Value Associates has chosen Dubai as the site of its 18th international office www.corporate-value.com . Bookmark their websites for recruitment announcements over the next few months. And see also last month’s newsletter for a report on the consultancy sector in The Gulf http://www.donleslie.uk/whats-going-on-in-consultancy-april-2019-newsletter/

Consultancies encroaching on other professional services – Law. I’ve written before about the Big Four’s move into legal services. Here’s the latest from EY https://www.ey.com/en_gl/news/2019/04/ey-to-expand-legal-services-offerings-globally-with-acquisition-of-the-pangea3-business-from-thomson-reuters and PwC https://www.law.com/2019/04/24/pwc-legal-plans-major-expansion-of-financial-services-team-292-44530/?slreturn=20190326072747

Consultancies encroaching on other professional services – Advertising. This time it’s biter bit. Grey Consulting (part of Grey Advertising)  https://www.thedrum.com/news/2019/03/27/grey-consulting-and-makerversity-forge-ahead-with-colourful-alliance  has joined up with Makerversity, “an army of creators and tinkerers who apply digital manufacturing, coding and new materials to the worlds of product design, fashion and art.” But four of the world’s top ten creative/CMO agencies are now owned by consultancies and the largest, Accenture, is still hoovering up design and branding agencies. The Economist of 20th April reports it is buying “revered” Droga5 (UK edition, p64), although at least one commentator thinks it’s a bad move https://www.thedrum.com/opinion/2019/04/08/accenture-s-dad-dancing-has-stop

KPMG UK is going through a massive overhaul, with the long-rumoured split of audit from consultancy  – seemingly – finally on the horizon. https://uk.reuters.com/article/us-kpmg-restructuring-idUKKCN1RJ0QT  Keep a look out for the hiring opportunities which should result…  And KPMG US is not only opening a new centre in Chicago to help its clients understand disruption and innovation https://channels.theinnovationenterprise.com/articles/kpmg-opens-tech-and-innovation-center-in-chicago  but also a new training campus in Orlando, Florida. Looks cool: https://goingconcern.com/kamp-kpmg-will-officially-be-called-kpmg-lakehouse/?platform=hootsuite  Maybe that’s why consulting projects in the US cost more than clients expect http://news.top-consultant.com//Consulting-project-costs-overshoot-US-company-expectations-19699.html?utm_source=UK%2Bnewsletter&utm_medium=email&utm_campaign=UKnewsletter180419   – Source Global Research.

UK consulting success story PA Consulting says its growth in the last 12 months -14% – has beaten the global average for the consultancy sector, and it has increased its headcount by 10%. https://www.paconsulting.com/newsroom/expert-quotes/consultancy-uk-pa-consulting-results-reveal-record-14-revenue-growth-17-april-2019/ If you missed my recent webinar with PA Consulting you’ll find the link here: http://www.donleslie.uk/whats-going-on-in-consultancy-april-2019-newsletter/

Too young for the job? Stefania Tosini of SDA Bocconi shares this article https://www.linkedin.com/feed/update/urn:li:activity:6524652743058034688/ from website fm-magazine.

If a firm is opening a new office, it’ll start hiring. Maybe not next week, or next month, but it pays to put these pieces of intelligence on a watchlist. Here’s a roundup of some I’ve seen in the last four weeks… Change4Growth (a US retail/change consultancy) in London https://www.change4growth.com/ideas-4-growth/2019/4/3/change-4-growth-across-the-pond , Slalom (a US tech firm) in Manchester https://www.slalom.com/newsroom/slalom-opens-manchester-office-support-uk-growth  with 200 jobs expected, and Forte Partners (analytics) basing its new ME market line in Istanbul. https://fortepartners.co/

I ran a webinar for a group of 2019 MBA students anxious to work out why they’d not been invited to interview by consulting firms yet. I’ll write it up for my website www.donleslie.uk when I get a moment, but in the meantime here are some of the findings…. CVs three or four pages long (the industry standard is one page)….nothing about hobbies or achievements (extracurriculars can say so much more than your academic record /work history)….poor written English in the cover letter (firms will make allowances for non-native speakers, but try to get your submission proofread in advance by someone whose first language is English). And the most egregious error? To be revealed….

This month, Sheffield University Management School has invited me to participate in its Career Accelerator Programme, with a session on careers in strategy and management consultancy. But is there something I can help your students with too? A classroom session on Plan B for those unsuccessful at consulting interviews perhaps, or a webinar on international opportunities in consulting, or 1:1 coaching in advance of a consultancy interview? Anything that will keep me away from Brexit debates and that bottle of shiraz would be appreciated….