Duraflex is a German footwear company with annual men’s footwear sales of approximately €1 b. They have always relied on the boot market for the majority of their volume. In this market they compete with three other major competitors. In the fall of 2019, Badger – one of Duraflex’s competitiors – ... Open whole case
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Hi Natalie, First, more than happy to quickly look over your resume and answer some quick questions. Second, here are a few thoughts on how COVID-19 is affecting the consulting world. INTERVI... (read entire answer)
First, more than happy to quickly look over your resume and answer some quick questions.
Second, here are a few thoughts on how COVID-19 is affecting the consulting world.
Most interviews will now be virtual. They may also involve COVID-19 as a topic!
For Virtual Interview Tips:
For Coronavirus Cases:
PUSHED STARTING DATES
A number of existing offers as well as future offers are coming with delayed start dates.
(If this happens, use the time to both upskill and find a 2nd job/internship in the meantime)
Some of the tier two firms are cutting costs through:
- Setting pay to 80%, with an opt-out policy (KPMG)
- Letting go of some staff with <6 months tenure (EY)
- Forcing unpaid leave for staff not on billable projects (Deloitte)
- Stopping bonuses
So far, it seems the tier 1 firms are cutting some bonuses and being stricter with the "Up or out" system. It seems unlikely they would rescind new hire offers, but you should always have a plan B.
Al this being said different geographies are different, as are different roles...even in tough times companies do hire and projects are won.
DELAYED AND REDUCED HIRING
There are a lot of companies, a lot of offices, with a lot of different timelines. I recommend you reach out to the recruiters of the offices + companies in which you are interested! This had the added benefit of you potentially being put in touch with a potential referee!
Take the initiative, reach out to the offices/companies you want, hustle hard, and find the jobs that are available and fight for them. Don't speculate...read the cards TODAY and operate as such, until something changes, then adapt.
THREAT TO THE BUSINESS MODEL
The top-tier firms are very nimble. They are notoriously "immune" to economic cycles. This Is because:
- When the economy does well, MBB are hired to help companies do even better
- When the economy does poorly, MBB are hired to help companies survive (cost costs, adapt, plan for the new world)
I can tell you that MBB are hustling hard and that when companies are in trouble, they look to MBB first for guidance. Strategy consultants help firms navigate uncharted territory...these times are when they're most needed
IMPACT ON TRAVEL
1) Yes it will affect the nature of work
2) I can't see it improving work-life balance. The fundamentals of top-tier companies in any industry are: Get the best, get the brightest, get the hungriest, charge them out for a lot, and work them hard
3) It'll change business trips in much the same way business trips will be changed across the world
4) It's anyone's guess as to whether WFH will become more acceptable in consulting. Personally, I doubt it.
IMPACT ON M&A ACTIVITY
Hey A, In my career I had two transfers: From the Financial Services practice to Automotive within the same region From Munich to Dubai office I need to say that transfers are a pretty... (read entire answer)
In my career I had two transfers:
- From the Financial Services practice to Automotive within the same region
- From Munich to Dubai office
I need to say that transfers are a pretty tricky thing and require a lot of sensitive political skills.
Different companies offer three types of transfers:
- Temporary project assignment abroad (for the duration of the project)
- Short-term office exchange programms (usually between 3 and 12 months depending on the company)
- Permanent office transfer
All of them are different in terms of difficulty to get. While project assignments abroad are quite common and easy to get, permanent office transfers are very challenging and require hard work from your end and a bit of luck.
In any way you would need the support of your mentor, the staffing manager in your region as well as partner in the targeted office, who will push your transfer.
If you want to live on the west coast or Europe why don't you apply directly there?
If you need any help, just drop me a PM.
Happy to share my experience.
Hi there, in many offices a good GPA to target for MBB is 3.7+, thus you won’t be particularly strong on that part. Having said that, I know people with a GPA lower than yours who managed to be inv... (read entire answer)
in many offices a good GPA to target for MBB is 3.7+, thus you won’t be particularly strong on that part. Having said that, I know people with a GPA lower than yours who managed to be invited thanks to a strong referral. You can find more on referrals at the link below:
Please feel free to PM me if you need more information.
Hi there, These large organizations are always super confusing! My understanding is that Deloitte Monitor sits within Strategy and Operations (S&O). Monitor was a classic strategy group acqu... (read entire answer)
These large organizations are always super confusing!
My understanding is that Deloitte Monitor sits within Strategy and Operations (S&O). Monitor was a classic strategy group acquisition a few years back that then got rolled into.
The view was that, S&O was more the management consulting practice, which could stand to benefit from a pure strategy group.
So, Deloitte Monitor is similar to Strategy& in PwC, EY Parthenon, etc.
Also, feel free to ask these questions during coffee chats or discussions with HR. They know thier organizations are complex and they appreciate you doing the due diligence to find out where you would best fit!
(On a break) Deloitte S&O BA l Certified by Cornell University for Interview Prep l First timers get 50% off second case
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Strategy & Operations Consultant @Deloitte, Analytics Lead @ unicorn start-up, University of Cambridge graduate
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