What's the difference btw Oliver Wyman and other second tier?
Overview of answers
A few differentiators at OW:
1) OW FS Consultants are the most expensive Management Consultants - following the firm’s specialised expertise across FIs, fees for OW FS Consultants are typically at a ~20% premium of MBB Consultants. This significantly drives firm growth, and accommodates generous project budgets.
2) Quantiatively focused - OW’s work is some of the most numerically orientated in the industry, as reflected by the frequent use of advanced quantitative platforms (e.g. many offices now require Python and SQL training for new hires, and are more regularly leveraged on projects).
3) MBA Desert - relative to other firms, OW hires limited numbers of MBA graduates in favour of either Undergraduates at the junior level, or Experienced Hires at senior levels to being specific content expertise to the firm. Similarly, the firm does less to encourage its Consultants to pursue MBAs than competitors and does not require this step in career progression (although sponsorship is still provided for consultants who value the MBA experience).
Feel free to contact me directly if you have any more specific questions about OW!
Hopefully someone with direct knowledge of OW chimes in. Fwiw, my opinion as a former MBB consultant is OW is in the middle of the tier-2 pack, nothing special about them. That's not bad at all by the way, but I have never understood their unique value proposition.
One additional notion: Oliver Wyman's staffing model is far more international/global that what you will ever experience in most other Tier2 firms.