Vep: Braxton Associates (Formerly Deloitte Consulting) 2003

EMPLOY PROFILE VAULT EMPLOYER PROFILE:

BRAXTON ASSOCIATES

BY THE STAFF OF VAULT

© 2002 Vault Inc.

Copyright © 2002 by Vault Inc. All rights reserved. All information in this book is subject to change without notice. Vault makes no claims as to the accuracy and reliability of the information contained within and disclaims all warranties. No part of this book may be reproduced or transmitted in any form or by any means, electronic or mechanical, for any purpose, without the express written permission of Vault Inc. Vault, the Vault logo, and “the insider career networkTM” are trademarks of Vault Inc. For information about permission to reproduce selections from this book, contact Vault Inc., 150 W22nd Street, New York, New York 10011, (212) 366–4212. Library of Congress CIP Data is available. ISBN 1–58131–250-4 Printed in the United States of America

Braxton Associates

Table of Contents INTRODUCTION

1

Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1 Braxton Associates at a Glance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2

THE SCOOP

3

History . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3

ORGANIZATION

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Locations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9 Key Officers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9 Ownership . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9 Practices . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10

VAULT NEWSWIRE

13

OUR SURVEY SAYS

17

GETTING HIRED

21

Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .21 U.S. Office Locations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .22 Questions to Expect . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .26 Questions to Ask . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .28 Compensation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .29 Perks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .29

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ON THE JOB

31

A Day in the Life . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .31 Job Descriptions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .33 Career Paths . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .34

FINAL ANALYSIS

37

RECOMMENDED READING

39

Braxton Associates

Introduction Overview Braxton Associates is the new name for Deloitte Consulting, a former arm of the Big Four professional services firm Deloitte Touche Tohmatsu. Braxton (which becomes the official name of the firm at the end of 2002) spun off from DTT in early 2002, as auditing firms faced regulatory pressure to divest their consulting operations in the wake of the Andersen/Enron scandal. After months of debate, the firm decided to allow the consulting partners to buy the operation out. Soon thereafter, the firm announced its new name. Deloitte Consulting, Braxton Associates – whatever you call it, the firm ranks among the world’s largest consulting firms, with more than 14,000 employees in 97 offices in 34 countries offering everything from strategy work to customer relationship management. Its client list includes more than onethird of the companies in the Fortune Global 500, including heavyweights like Hewlett-Packard, Philip Morris and Cable & Wireless.

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Braxton Associates at a Glance 1633 Broadway 35th Floor New York, NY 10019-6754 212-492-4500 Fax: (212) 492-4743 www.dc.com

LOCATIONS

UPPERS • Strong alumni network • Aggressive in promoting diversity

DOWNERS • Cuts in pay and training • Can be a large, bureaucratic organization

New York City (HQ) Offices in 34 countries

THE BUZZ

WHAT EMPLOYEES AT OTHER FIRMS ARE SAYING

PRACTICE AREAS People Strategy & Operations Technology

THE STATS Employer Type: Partnership CEO: Doug McCracken Employees: 14,000 (2002) Revenues: $3.49 billion (2001)

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• • • • • • • •

“Cares about employees” “Way-old oldsters” “Good and getting better” “Unspectacular” “Classical” “Family-oriented” “Body shop” “What the Big 5 SHOULD be”

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Braxton Associates

The Scoop History Braxton’s history begins in 1845, when William Deloitte opened an accounting office in London that targeted the needs of bankrupt companies. In 1890, Deloitte made one of the most significant decisions in the firm’s history: He opened his first American branch in New York, under the leadership of John Griffiths, a firm partner. Deloitte slowly moved north and west, and by 1945 it had opened branches in Montreal, Boston, Chicago and Los Angeles. Even as it expanded, however, the firm was careful to maintain a consistent corporate culture, one that stressed its credentials as an expensive but thoroughly professional firm. After World War II, Deloitte formed an alliance with Haskins & Sells, which had an extensive network of offices within the United States. In 1978, Deloitte changed its name to Deloitte Haskins & Sells, a change accompanied by a shift in corporate culture. Deloitte became more aggressive as the accounting industry grew more competitive; and the firm was one of the first major accounting companies to employ bold, direct advertising. In 1984, Deloitte was involved in an abortive merger attempt with Price Waterhouse, which failed because of the objections of Price Waterhouse’s overseas partners. However, Deloitte was not to be denied its merger for long. As a wave of alliances swept the top accounting firms, Deloitte Haskins & Sells merged with Touche Ross to form Deloitte & Touche. The merger brought about the fusion of two disparate corporate cultures: In contrast to Deloitte’s reputation as a conservative, traditional firm, Touche Ross had made a name for itself with a daring and aggressive practice. Ross’s strengths were in Asia, while Deloitte’s base of operations was in Europe and the States. After the merger, Deloitte’s Michael Cook continued to supervise U.S. operations, while Ross’s Edward A. Kangas oversaw international business. The post-merger firm also adopted a new name for its global operations: Deloitte Touche Tohmatsu (included in the merger was Japanese audit firm Tohmatsu Awoki Sanwa). The firm’s U.S. and U.K. arms continue to go by Deloitte & Touche, however. Like several other auditing firms, Deloitte thrived during the 1980s and cashed in on the success of the junk bond market. Unfortunately, Deloitte had to pay for its adventures – as auditors were increasingly held responsible for the conduct of their clients, Deloitte was sued in the 1990s because of the actions of several failed S&L banks, as well as the failure of Drexel Burnham, Visit the Vault Consulting Career Channel at http://consulting.vault.com — with insider firm profiles, message boards, the Vault Consulting Job Board and more.

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Braxton Associates The Scoop

the former firm of junk bond magnate Michael Milken. These lawsuits against Deloitte were settled only after the accounting firm agreed to pay out more than $100 million to the litigating parties. In 1995, Deloitte undertook a major reorganization of its business and adopted a regionally oriented structure. The firm’s U.S. and U.K. consulting operations were also reorganized when Deloitte Consulting was formed to consolidate the firm’s operations in both countries. The next year, the firm formed a corporate fraud unit, which specializes in the Internet. Deloitte also bought PHH Fantus, the leading corporate relocation consulting company. Things weren’t all rosy during the late 1990s, though – in April 1999, roughly 1,000 D&T consultants decided to leave the company to start their own firm after being stymied by having to turn down assignments because of conflicts of interest, and that same month Deloitte reorganized its Western European operations.

Splitting off At the beginning of the new millennium, while other Big Four firms were looking to separate their audit and consulting units, DTT took a different tact. Ernst & Young, responding to regulatory concern regarding a potential conflict of interest, sold its consulting unit in 2000. KPMG spun off its consulting operations in IPOs in February 2001. And PricewaterhouseCoopers, which announced in January 2002 the spin-off of its consulting services, planned a split as early as 2000 (a sale of its consulting unit to Hewlett-Packard fell through in November 2000). But although DTT was receiving several offers for its consulting unit, the firm bucked the trend. “We get calls almost every day,” CEO Jim Copeland told the Financial Times in July 2001. Copeland rejected the idea that offering consulting and auditing services to the same companies risked a conflict of interest. “As an organization, we have not been distracted by selling out consultancies and dividing the imaginary profits,” he said. But come 2002, Copeland and DTT were forced to change their tunes. In February of that year, while the U.S. Congress was grilling Arthur Andersen on its involvement in the Enron scandal, Deloitte Touche Tohmatsu reluctantly announced that it, too, would be separating its auditing and consulting units. “It’s ironic and sad that we are forced by perception to separate our firm,” Copeland said during a speech at the National Press Club a few days after the announcement. “This separation will accomplish nothing.” Andersen’s questionable dealings with Enron forced many to rethink the Big Five’s (now the Big Four’s) common practice of providing

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Braxton Associates The Scoop

both auditing and consulting services to the same client. D&T also announced that it would no longer handle both internal and external auditing for new clients, a move the other big accounting firms had announced previously. Copeland told Reuters, “Now, because of Enron and other highprofile failures, we are forced to dismantle the very model that represents today the best practice in auditing.”

A new name, a new start? For a few days in March 2002, it looked as if Deloitte Touche Tohmatsu would inherit the messy operations of Big Four Arthur Andersen. Merger negotiations began between the two at about the same time Andersen learned that it faced potential indictment on obstruction of justice in the Enron Investigation. The New York Times claimed a deal was imminent on March 11; on the same day, however, The Wall Street Journal cautioned against the early call: “The sale or merger effort could come to nothing. It is complicated by the huge liability that Andersen potentially faces for its handling of the Enron audits and the destruction of Enron documents.” At the time, with Deloitte the second largest of the Big Four – about half the size of big dog PricewaterhouseCoopers – many thought a Deloitte-Andersen marriage made sense, as the bonded couple could present a serious challenge to PricewaterhouseCoopers. But a few days later, when negotiations between Deloitte and Andersen slowed, reports began circulating that other Big Four firms had jumped into the bidding. Ultimately, Deloitte Touche Tohmatsu, which had been considered Andersen most likely suitor, withdrew. “We tried to step into this situation with Andersen and be helpful,” CEO Copeland told the New York Times. “Unfortunately, we were unable to find our way through to a solution.” All the while, Deloitte partners debated how best to separate their firm from DTT. After wavering between an IPO and a partnership buyout, they decided on the latter, to be completed by the end of 2002. And in an attempt to further separate itself from its former parent, Deloitte Consulting announced a name change in July 2002. The consulting concern will be known as Braxton Associates, effective fall 2002. (Braxton Associates was a firm purchased by Deloitte & Touche in 1984.)

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Braxton Associates The Scoop

Rewarding work The last few years have seen the firm revel in a number of awards and industry plaudits, including an impressive four-year sojourn on
Alliances and ventures Braxton has used its powerful market position to ink a number of alliances and joint ventures. In a year bracketed by two major deals to create product information processes – one in January 2001 with San Jose’s BEA systems, the other in January 2002 with Palo Alto’s Hewlett-Packard – it joined with Redwood City, California-based SmartForce to create an infrastructure for the firm’s e-learning solutions; a deal with PeopleSoft of Pleasanton, California to expand the companies’ CRM software alliance; and a joint venture with India’s MASTEK to provide offshore IT services to Braxton and its clients outside India.

Stranger than (science) fiction Many of Deloitte’s new projects have been structured according to its “mothership/pod” model, which consist of joint ventures (pods) operating independently but within the orbit of Deloitte (the mothership). Recent “pods” include Roundarch, a joint venture with BroadVision and the ad agency WPP, and Telispark, created in June 2001 and centered on application software for mobile wireless solutions. Deloitte’s venture capital unit, Deloitte Consulting Ventures (a new name has yet to be announced), provides capital – typically $2 million to $10 million – to mid- to later-stage companies primarily in the high-technology, software and e-business sectors in the financial services, communications and manufacturing industries. It also uses the performance of its investments to create an alternative compensation channel, offering its employees “v-shares”

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Braxton Associates The Scoop

whose value rises and falls according the relative success of DCV’s initiatives.

Family ties In response to the flight of employees to Internet startups during the dot-com boom, Deloitte established an alumni network to keep former employees in the consulting loop and to cultivate contacts in the high-tech industry. The firm invites network members to company events, enables them to keep in touch with colleagues and even serves as an informal job network. Today the network has more than 3,000 members, with a goal of 5,000 by the end of 2002.

A diverse vision Deloitte has long enjoyed a reputation for a sharp focus on workplace diversity. After concluding its Women’s Initiative program, which ran from 1993 to 2000 and greatly expanded the opportunities for women in the company (the number of female partners increased from 6.5 percent in 1993 to 14 percent in 2000), Deloitte launched Vision 2005 to address what it saw as a lack of women in leadership positions. The new program’s goal is to achieve a 35 percent annual admission/promotion rate for female partners and directors by 2005, and a similar number of women at every level of the firm.

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Braxton Associates

Organization Locations Braxton Associates is headquartered in New York City and has 91 offices in 34 countries. For a list of domestic office addresses, see the “Getting Hired” section.

Key Officers Chief Executive Officer: Doug McCracken McCracken took over the reins at Deloitte Consulting in February 2000, following in the heels of departing CEO Pat Loconto. A 1976 graduate of Rensselaer Polytechnic Institute, McCracken has spent his entire career at Deloitte. Since becoming CEO, McCracken has overseen the Deloitte Consulting separation, the firm’s rebranding and, in 2001, an 11 percent increase in profit. In 2001, CEO Magazine named him one of the country’s 25 most influential consultants. Chairman of the Board: Martin Sheen Deputy Chief Executive Officer: Robert A. Go Deputy Chief Executive Officer: John M. Sullivan Chief Marketing Officer: Brian Fugere Chief Financial Officer: Robert J. Glatz

Ownership Braxton Associates is a limited liability partnership owned jointly by its approximately 850 partners.

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Braxton Associates Organization

Practices Public Sector Braxton’s public sector service has two focuses: bringing business ideas to government operations and e-government solutions. The firm is particularly concerned with how governments adapt to the processes of globalization, as well as the growing emphasis on national security and anti-terrorism across the globe (one of the few truly robust growth areas in the international economy). Recent projects include outfitting L.A. airports with SAP software and realigning the Norwegian military’s logistics system with an Oraclebased supply solution.

Communications Braxton has helped the UK’s Cable & Wireless institute a new e-Business model, and it has installed an SAP solution for Poland’s Polkomtel, a leading wireless provider. The practice focuses its efforts in three areas of the industry, service providers, content and media, and high-tech communications infrastructure, providing them with answers to crucial questions surrounding such issues as privatization, deregulation, competition and digitalization.

Manufacturing While the firm has a wide variety of experience in the manufacturing sector, it centers its efforts on four industries: aerospace and defense, automotive, high technology and process. It has completed CRM, supply-chain management and e-Business projects for such manufacturing giants as Cargill Industries, Renault and Hewlett-Packard.

Health Care The underlying concern of Braxton’s health care practice is the changing nature of the health care consumer. Among its clients, the firm counts over two-thirds of the top 25 HMOs, over 50 percent of Blue Cross Blue Shield plans, and 10 of the top 15 pharmaceutical manufacturers, providing such services as strategic management and merger solutions.

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Braxton Associates Organization

Financial Services Braxton’s financial services practice works with clients in all sectors of the industry, from banking to insurance to securities, providing them with strategy, operations, risk assessment and technology solutions. The practice serves 12 of the world’s top 20 banks, nine of the top 20 property and casualty insurance companies and seven of the top 10 U.S. securities firms.

Energy This practice provides clients in oil, gas and utility concerns with solutions aimed at smoothing the integration process both within their firm and among sectors.

Consumer Business Braxton’s consumer practice is divided into three subfields: consumer product manufacturing, retail and consumer services. Offerings include eCRM, M&A work and branding strategy.

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Braxton Associates

Vault Newswire October 2002: Big time VARBusiness ranked Braxton Associates/Deloitte Consulting the 20th largest solutions provider in the country, ahead of such powerful consultancies as BearingPoint, Booz Allen Hamilton, and Cap Gemini Ernst & Young. (IBM Global Services ranked No. 1.)

July 2002: Keeping it private Deloitte Consulting, after wavering between an IPO, a merger with another firm or a partnership buyout, opted for the last as its plan to separate from Deloitte & Touche. The firm also announced that upon completion of the divorce it would change its name to Braxton Associates.

March 2002: A deal in the works Several media outlets revealed that Deloitte Touche Tohmatsu might merge or buy Andersen, the beleaguered services firm. Talks broke down after only a few weeks.

February 2002: Splitsville In the face of growing criticism by Congress of the accounting industry’s consulting operations, Deloitte & Touche announced that it would split off from its Deloitte Consulting arm. The firm did not announce, however, how it would do so, leaving the issue open to speculation.

November 2001: Agreement with Siemens to enhance Deloitte’s CRM offerings Deloitte Consulting reached a teaming agreement with Siemens Enterprise Networks LLC, a subsidiary of Siemens AG. The two firms previously worked together in the security and customer relationship management marketplace, and the agreement is an effort to expand their mutual interests in these areas.

October 2001: Deloitte to partner with

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Braxton Associates Vault Newswire

SupplySolution Hoping to build on its supply chain management expertise, Deloitte Consulting announced that it reached an alliance with SupplySolution, a leading provider of supply chain execution applications for manufacturing, distribution, exchange, and supplier organizations.

October 2001: Working Mother magazine recognizes Deloitte for eighth consecutive year Deloitte Consulting was named for the eight consecutive year to Working Mother Magazine’s list of “100 Best Companies for Working Mothers” – a track record that is unparalleled among Big Four firms. Working Mother selected its 2001 companies based on five criteria: child care; flexibility; leave for new parents; work/life benefits; and advancement of women.

August 2001: Layoffs at Deloitte Facing increasing economic pressures and tighter budgets, Deloitte Consulting laid off roughly 500 employees in its North and South American offices. Despite the seven percent reduction within the region, Deloitte told The Wall Street Journal that it intends to hire an additional 1,500 employees in fiscal 2001.

August 2001: Deloitte pulls out of Hartsfield computer engagement After two years of delays and tense negotiations, Deloitte Consulting pulled out of the bidding to install an Oracle-based financial system at Atlanta’s Hartsfield International Airport. Airport general manager Ben DeCosta told the Atlanta Constitution that he was close to an agreement with Deloitte “because of their experience with the Oracle package.” Deloitte’s senior manager for public relations, Jon L’Abate, remarked: “We weren’t going to be able to come to an agreement and we simply withdrew. And that happens.” Looks like it.

July 2001: Deloitte enters IPO debate In response to the growing tide of consultancy IPOs, which has included firms such as KPMG Consulting and Accenture, Deloitte Consulting issued a statement to quell any speculation about its own plans. “Deloitte Consulting is pleased not to announce an IPO,” the firm stated in a Wall Street Journal advertisement. 14

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Braxton Associates Vault Newswire

July 2001: Outsourcing agreement with Brother Industries to generate $91 million Japan-based Brother Industries, Ltd., a worldwide manufacturer of office equipment and industrial sewing machines, agreed to outsource its technical support function to Deloitte Consulting. The five-year agreement stands to generate $91 million for Deloitte and will cover the full range of information services.

March 2001: Deloitte reaches agreement with Intira Corporation Intira Corporation, a Web and communications service firm that now operates as a division of Divine, Inc., has entered a strategic partnership with Deloitte Consulting. The two firms hope to leverage extended enterprise solutions in the professional services industry.

March 2001: Gartner recognizes Deloitte Consulting in Magic Quadrant study In its annual study entitled “IT Strategy, Planning and Architecture Magic Quadrant”, Gartner recognized Deloitte Consulting as a “Leader” in “developing reusable frameworks” and “adaptive architectural points of view and solution sets.” This is Gartner’s second recognition of Deloitte Consulting, though surely nothing is as impressive as a magic quadrant.

January 2001: California launches web portal with help from Deloitte With help from Deloitte Consulting, California Governor Gray Davis announced the launch of the state’s first web portal, which users can access at my.ca.gov. Initially, the portal will offer users the chance to register cars, check up on the academic performance of certain schools, and view pictures of state parks, among other things.

December 2000: Fortune names Deloitte to “100 Best Companies” list Fortune magazine announced that Deloitte Consulting, for the fourth consecutive year, has made the “100 Best Companies to Work For in America” list. Fortune cites advanced human resources programs and corporate culture improvement as key criteria in creating its annual list.

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Braxton Associates

Our Survey Says Nice folks to work with Insiders are pleased with the day-to-day operations of the firm. The culture, we hear, is open and diverse, with an emphasis on consultant-management interaction. As one source says, “I do not get the feeling that this is a very hierarchical place,” and adds “you can walk up to and have an open talk with every partner.” Consultants are also happy with the level of diversity, saying that partners “try to make it a comfortable place to work.” On the other hand, another source, comments, “there is also a problem of machismo – the perception is that you have to be “passionate” to be doing a good job. TypeB (or, more to the point, anything short of hyper-Type-A) personalities are perceived as less effective employees.” At the same time, some DCers complain that hard work rarely results in efficient work: “Work hours long but productivity tends to be low,” reports one source. All in all, though, we hear the staff is friendly and fun to work with: “The junior staff in my group are by and large intelligent and dedicated individuals whom I hope to have as colleagues/references in the future,” concludes one source.

Making an impact The firm places a strong emphasis on volunteer work – every May it holds a firm-wide Impact Day, “in which all offices all over the world spend the entire day performing some type of community service.” In New York this means volunteering at local schools, while in Calgary it means teaching computer and related job skills at a community center. Other projects include working at elderly homes, building houses and giving resume workshops. Apart from Impact Day, each office organizes its own volunteer efforts – the Sacramento office, for instance, operates a program called Generating Involvement in Volunteerism through Education and Service, or GIVES, that coordinates employee volunteerism and which in May 2001 won the city’s People Helping People Business Award. Participation in community events also “may be rewarded at evaluation time.”

Where’s the beef? Compensation, for obvious reasons, is high on respondents’ lists of complaints. There have been no bonuses for the last few years, and we are told that salaries in general are “bad relative to the industry, and they price them knowing that.” Adds another source, “I would have said I was satisfied [with my compensation], but the likely blanket reduction in compensation, Visit the Vault Consulting Career Channel at http://consulting.vault.com — with insider firm profiles, message boards, the Vault Consulting Job Board and more.

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Braxton Associates Our Survey Says

coupled with the aforementioned complete dichotomy of skill and effort expended by consultants, is extremely upsetting.” The firm sells itself as a consultancy with a better working environment than most, we hear, “more of a work/life balance, with lots of happy hours.” But while the firm is “always striving for balance, if the client wants something done in a month, it has to get done.” This can mean 70-hour weeks, which brings some Deloitte insiders great sorrow. “For the amount paid, and coming home at midnight, I was miserable,” carps one veteran of an arduous engagement. Another respondent adds that “for a firm which prides itself on work/life balance, I work over 70 hours a week, and my salary will decrease next year. Not exactly the conditions for a motivated and empowered consulting staff.” For those who travel, Deloitte tries to maintain a 5-4-3 schedule – meaning five days of work, four on the road, three nights away – but that, again, is something often left to the client’s whims; one respondent went so far as to say the policy “is a joke.” However, as one insider notes, “Travel requirements vary widely from project to project. It really is luck of the draw. The best way to dodge traveling too much is to specialize in an industry and live in the city where that industry predominates – financial services in New York, automotive in Detroit and so on.”

Office space: the luck of the draw If you’re looking for a home away from home, your opinion of your office at Deloitte will probably differ wildly by location. New Yorkers aren’t thrilled, for one. “The New York office is way too crowded,” snoots one insider, even though it “was just remodeled, which is hard to believe.” But a Chicago consultant says the offices there are “very nice.” The Boston office is the “basic old school layout,” while Jersey City boasts “a stocked kitchen for breakfast and snacking.” In San Francisco, “remodeling of many offices has focused on collaborative work areas, private communication booths and open, light, high-tech furniture.” But don’t get too attached to your desk. Deloitte operates a “hoteling” system whereby traveling consultants are usually able to secure space at any office, though “you are not always guaranteed a desk.”

Rising in the ranks Insiders report that for analysts (new hires), the journey to a partner-level position will “probably take more than 10 years,” although one insider warns

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Braxton Associates Our Survey Says

that “a new analyst/associate would likely need to return to get the MBA in order to make partner.” Others report that the path “from senior consultant to partner is probably seven to eight years.” Consultants will spend, on average, “two years as senior consultant, three as manager, three to four as senior manager.” Consultants with “substantial industry experience may advance very rapidly. Consultants who sell a lot of work will advance the fastest.” And promotions are “made once a year in the fall.”

Continuous training As at most firms, training at Deloitte has been cut back significantly, but consultants tell us that it remains top-notch. All new hires are put through a weeklong program in Arizona. Continuing training is “focused on business associates going back to get their MBAs,” though there is also a strong emphasis on technical skills and on-the-job training and, as one DCer reports, there was “not much training going on this past year as firm cut costs.”

Changing faces Deloitte’s Women’s Initiative has “immensely improved” the career prospects for women and “has led a firm-wide realization that the retention of qualified women – and men – is important to the success of the firm.” One source remarks that “Deloitte is recognized as a leader in advancement, retention and promotion of women,” while another Deloitte insider reports that Deloitte has “a number of affinity groups targeted at ethnic minority groups, as well as gays and lesbians.” Nevertheless, ethnic diversity could stand a bit more work, according to one consultant, who notes that DC has “few AfricanAmerican or Hispanic partners or practitioners.” Steps are in the works, we hear. “We are working on [diversity], says one consultant. “We enjoyed great success in attracting, retaining and promoting women. We are now focusing that same attention on people from other cultures and ethnic backgrounds.”

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Braxton Associates

Getting Hired Overview Deloitte does the majority of its hiring on campus. After a resume submission period, the firm invites selected applicants to a first round of interviews, held at the college or business school. It is composed of two 45-minute interviews, the first primarily behavioral, or “fit,” the second a case; the case is said to by one insider to be “more qualitative, but [you] still have to prove an understanding of math.” Another, who was being hired for a financial services position, says one case asked “how to assess a call center’s operations and what the primary cost and revenue drivers were. I also had one on increasing revenue generation within the credit card industry.” Fit questions, on the other hand, tend to be “basic no brainer scenario questions. ‘Tell me a time when... and give me an example of...’” The second round, also held on campus, involves an interview with two partners that is almost entirely focused on a case review. Applicants can expect to hear back from the firm within two weeks, and if the response is positive they are invited to an offer day. We hear the firm is unwilling to negotiate salary, but will give prospective employees their choice of office. The key to succeeding at the Deloitte interview process is to “demonstrate an understanding of the kind of work that we do,” says one source. Another adds, “If you are relaxed, you will be smart in the right kind of way. And even the case interviewers are said to be “looking for an indication of a rational thought process and a common sense approach, rather than the right answer.” (That’s pretty typical for consulting interviews, actually.) Arrive at the interview prepared – be sure to “research the company, rehearse answers to frequently asked questions, think through the skills you bring to the firm and what type of work interests you.” While Deloitte supposedly “wants someone who is well rounded more than [someone] in the top 5 percent of their class,” grades do have importance. The prestige of a candidate’s school also matters. Most people who have been through the consulting interview process describe it as “fairly long and stressful.” Deloitte Consulting “lets you know shortly [afterwards] by giving a phone call and sending a basket of goodies.” The internship program, for one insider, was “an opportunity to understand in greater detail what the firm offered and what it valued.” Interns can “make meaningful contributions to the clients and get to know the people in the

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Braxton Associates Getting Hired

office.” In addition to “some really long hours,” “Deloitte makes sure that the interns get to know each other and have fun during the summer.”

U.S. Office Locations Atlanta 285 Peachtree Center Avenue, Suite 2000 Atlanta, GA 30303-1234 Phone: (404) 631-2000 Fax: (404) 631-2500 Austin 400 W. 15th Street, Suite 1700 Austin, TX 78701 Phone: (512) 226-4200 Fax: (512) 226-4601 Boston 200 Clarendon Street Suite 2000 Boston, MA 02116 Phone: (617) 850-2000 Fax: (617) 850-2001 Chicago Two Prudential Plaza 180 N. Stetson Avenue Chicago, IL 60601-6710 Phone: (312) 374-3000 Fax: (312) 374-3414 1901 Butterfield Road Suite 700 Downers Grove, IL 60515 Phone: (630) 852-9252 Fax: (630) 725-5000 Cincinnati 250 East 5th St., Suite 1900 Cincinnati, OH 45202-5109 Phone: (513) 784-7212 Fax: (513) 784-7206 22

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Cleveland 127 Public Square, Suite 2500 Cleveland, OH 44114-1303 Phone: (216) 830-6600 Fax: (216) 589-3939 Dallas/Irving 6363 N. State Highway 161 Suite 800 Irving, TX 75038 Phone: (469) 417-3000 Fax: (469) 417-3250 Detroit 600 Renaissance Center, Suite 900 Detroit, MI 48243-1704 Phone: (313) 396-1500 Fax: (313) 396-1400 East Brunswick 2 Tower Center Boulevard East Brunswick, NJ 08816 Phone: (732) 296-6200 Fax: (732) 296-6296 Houston 333 Clay St, Suite 2300 Houston, TX 77002-4196 Phone: (713) 890-6000 Fax: (713) 890-6200 Kansas City 1010 Grand Ave., Suite 400 Kansas City, MO 64106-2232 Phone: (816) 474-6180 Fax: (816) 881-5180 Los Angeles Two California Plaza 350 South Grand Ave. Suite 200 Los Angeles, CA 90071-3462 Tel: (213) 688-5410 Fax: (213) 688-5560 Visit the Vault Consulting Career Channel at http://consulting.vault.com — with insider firm profiles, message boards, the Vault Consulting Job Board and more.

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Braxton Associates Getting Hired

1 MacArthur Place, Suite 800 Santa Ana, CA 92707 Tel: (714) 913-1000 Fax: (714) 913-4000 Miami/West Palm Beach 1645 Palm Beach Lakes Blvd. Suite 900 West Palm Beach, FL 33401-2221 Phone: (561) 687-4000 Fax: (561) 687-4061 Minneapolis 400 One Financial Plaza 120 South 6th Street Minneapolis, MN 55402-1844 Phone: (612) 397-4000 Fax: (612) 397-4350 New York City Headquarters 1633 Broadway, 35th Floor New York, NY 10019 Phone: (212) 492-4500 Fax: (212) 492-4743 25 Broadway New York, NY 10004 Phone: (212) 618-4000 Fax: (212) 618-4500 Parsippany Two Hilton Court Parsippany, NJ 07054-0319 Phone: (908) 673-5600 Fax: (908) 673-5201 Philadelphia 1700 Market Street, Suite 2400, Philadelphia, PA 19103-3984 Phone: (215) 246-2300 Fax: (215) 246-2545

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Chadds Ford Business Campus Brandywine 5 Building Chadds Ford, PA 19317 Tel: (610) 558-3900 Fax: (610) 558-7200 Phoenix 2901 N. Central Avenue Suite 1200 Phoenix, AZ 85012-2799 Tel: (602) 234-5100 Fax: (602) 234-5186 Pittsburgh 1000 One PPG Place 26th Flr, Pittsburgh, PA 15222-5401 Phone: (412) 402-5000 Fax: (412) 391-3499 Sacramento 2868 Prospect Park Drive, Suite 400 Sacramento, CA 95670 Tel: (916) 288-3100 Fax: (916) 288-3131 San Francisco 50 Fremont Street Floor 25 San Francisco, CA 94105-2230 Tel: (415) 783-4000 Fax: (415) 783-4717 950 Tower Lane Suite 1500 Foster City, CA 94404 Tel: (650) 574-0223 Fax: (650) 574-7196 Deployment Center 950 Tower Lane Suite 130 Foster City, CA 94404 Tel: (650) 372-4744 Fax: (650) 574-7505 Visit the Vault Consulting Career Channel at http://consulting.vault.com — with insider firm profiles, message boards, the Vault Consulting Job Board and more.

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Braxton Associates Getting Hired

Bishop Ranch #3 2633 Camino Ramon, Suite 100 San Ramon, CA 94583 Tel: (650) 372-4630 Fax: (650) 372-4845 Seattle 705 Fifth Ave., Suite 1100 Seattle, WA 98104-2845 Tel: (206) 838-6000 Fax: (206) 838-6001 Stamford Stamford Harbor Park 333 Ludlow Street Stamford, CT 06902-6982 Phone: (203) 905-2600 Fax: (203) 905-2601 Washington, D.C. 555 12th Street, NW Suite 450 Washington, DC 20004-1207 Phone: (202) 220-2600 Fax: (202) 220-2750

Questions to Expect 1. Give me a recent example of when you worked as part of a team. This is one of the most important questions in the interview, because Braxton focuses even more than most companies on the need for team-based performance. Give an example from a business school class, a college sporting team or a community service group. While emphasizing the fact that you worked as part of a larger team, make sure that your role within the team clearly stands out. 2. Describe a recent conflict situation in which you found yourself. How did you resolve it successfully? This is an extension of the previous question. The questions on conflict resolution are meant to determine how you will perform under tense teamwork situations. Prepare an example that shows that you were able to

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compromise and resolve a difficult situation – while maintaining your dignity and not being a pushover. 3. How well do you work under pressure? Give us a recent example where you succeeded in a pressure situation. This question is similarly designed to test your ability to work as a team player in a high-stress environment. Use a different example if possible, but still describe yourself in a team environment. As you should for the last question, think out and prepare your scenario well in advance. 4. Give us a five-minute presentation based on this report we’re giving you. Be creative! An important question, since Braxton consultants are constantly making presentations to clients. You should also be prepared for a variation on this question, i.e.: “Give us a presentation on any topic of your own choice.” 5. Are you the sort of person I can work with for 15 hours straight? This question is meant to test whether you will be willing to work the long hours that Braxton sometimes requires of its employees – and remain amiable. Indicate clearly that you understand that your job occasionally will require you to work long hours, and that you are prepared to deal with such conditions in a pleasant manner. 6. Imagine I’m a client and I want to know something about you and your skills. Give me a five-minute presentation about yourself and your talents. Client interaction is a major aspect of a Braxton employee’s job, so expect an additional presentation question like this that tests your interpersonal skills and ability to interact with clients. 7. How would you cope with a high amount of traveling? Braxton employees have to do a lot of traveling – so you’d better answer that you are ready to handle it. This is a good place to show your awareness of Braxton’s policies by asking the interviewer about Braxton’s “3-4-5” policy, which ensures that employees travel three days, return on the fourth, and spend the fifth day at their own office, so that they can spend the weekend at home. 8. How would you work with a client whom you disliked personally? A make-or-break question. Again, client interaction is what Braxton is all about, so questions like these test if you can put aside your personal likes and dislikes and do the best for client under all conditions. Respond by stating that Visit the Vault Consulting Career Channel at http://consulting.vault.com — with insider firm profiles, message boards, the Vault Consulting Job Board and more.

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Braxton Associates Getting Hired

you understand that as a professional, you’ll have to put aside your personal preferences for the sake of your job. You pride yourself on your ability to produce the same quality results for anyone you’re working for, regardless of whether you like him or not. 9. Which item on your resume is most important to you? Pick something that your interviewer might otherwise overlook – and something that emphasizes your team skills. 10. Where do you see yourself in five years? The firm is genuinely interested in finding out the direction in which its potential employees are heading, especially in light of the industry’s poor retention rates.

Questions to Ask 1. How does Braxton distinguish itself from the other large consulting firms? Huge as they are, on the surface Braxton and its competitors – BearingPoint, Cap Gemini Ernst & Young, IBM Business Consulting Services – may seem identical to one another. At least in terms of the workplace environment though, Braxton’s selection to Fortune’s “One Hundred Best Companies to Work for in America” sets it apart from the rest. Your interviewer will doubtless have views on other ways, both in terms of business and culture, that Braxton is different. 2. How does Braxton view its place in the international market? Braxton has recently made a concerted effort to expand internationally, and has greatly increased its presence in the Asia-Pacific region through strategically chosen mergers. This is a chance to show that you’re aware of the increasing importance of the international market for all the major consulting firms. 3. What would be the balance between my personal and professional life at Braxton? One of Braxton’s strengths, in comparison with the other major consulting firms, is its commitment to enabling employees to maintain a healthy balance between work and home life. This is a chance to show that you’re well acquainted with Braxton’s corporate culture, and its strengths.

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4. Can you tell me about Braxton’s attitude towards flexible work schedules? Flexible work schedules are one of Braxton’s major selling points, so talking about this question lets the interviewer feel that the things you want are exactly the things they have to offer. 5. How responsive is Braxton towards new technology? Braxton’s savvy with technology is one of its trademarks, so you can follow this question up with a discussion showing that you are on the same wavelength. 6. What, in your opinion, does it take to become an outstanding consultant? Ask a hundred consultants this same question and you will probably get a hundred different answers. Still, some common characteristics are bound to come up, and you can try to tailor your interviews to accentuate the fact that you possess them. 7. How would you describe the “culture” of Braxton? This question and the one that precedes it are designed to get your interviewers talking about themselves – so that you can show what a good listener you are.

Compensation Pay Business/Systems Analyst: $40,000-$54,000 (pay raises for the first few years are calculated as a percentage of the starting salary) Consultant (First-year MBA): $90,000, plus $10,000 signing bonus Summer MBA Associate: $2,000/week

Perks • Flexible work arrangements, including reduced workload, flex time, and parental leave • Adoption assistance • Child care resource and referral Visit the Vault Consulting Career Channel at http://consulting.vault.com — with insider firm profiles, message boards, the Vault Consulting Job Board and more.

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• School service program • Elder Care Consultation and Referral Service • Mortgage assistance • Employee assistance, including a 24-hour counseling hotline • Nine paid holidays per year • Choice of Medical Plans • Health care flexible spending plan • Professional development program • Relocation assistance • Professional association expenses • Free or heavily subsidized tickets to concerts and sporting events • Free dinners at expensive restaurants when entertaining clients

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Braxton Associates

On the Job A Day in the Life Business/Systems Analyst 8:45 a.m. I get to the offices at the client site, where I’ve been for the past two days. First thing I do is check in with my team and client contacts, in case they have questions. 9:15 a.m. Organizational meeting with the group. Every morning there is some sort of a meeting for 10 or 15 minutes [to go over] what the day is going to be like and what I have to do. 9:30 a.m. After spending a couple of months developing an industry analysis, I’ve moved on to the next stage of the project. This is the more companyfocused phase, with vision sessions and the development of positions, as well as other cryptically titled tasks. One more specific duty of the business analyst that I now undertake is conducting interviews of the client’s employees. 11:30 a.m. I wrap up one of the 200 or so interviews I will do during the course of the project so I can attend a meeting with the client team. 12:10 p.m. Grab my coat, ‘cuz it’s lunchtime. I go out more often than not. If it’s more of a heads-down workday, I’ll grab something and bring it back to my desk. Today, though, a partner is in town, so I go out to lunch with him. 1:45 p.m. Return to my desk and check my messages. A good part of my day is dedicated to fielding phone calls. 2:30 p.m. Most of the rest of the afternoon will involve analyzing incoming material, such as data on products [the client] sells and how they stock them and the data and documents on their different processes. 5:30 p.m. With the previous task complete, I compile the information so that I can show it to the client tomorrow. Business analysts have high exposure [and] give a ton of presentations every week. 7:15 p.m. Time for a wrap-up meeting with the project team in which I discuss questions like “do we need to change our strategy?,” “Do we need new stuff from the client?” and “What do we need to do tomorrow?”

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Braxton Associates On the Job

8:00 p.m. Knock off for the day and get ready to go out for the evening with the team. Being in a strange town where no one knows anybody, the group does everything together – we [have even gone] out for country line dancing and karaoke.

Consultant 7:30 a.m. I wake up in my hotel room; check overnight voice mail. 8:30 a.m. After breakfast, I travel to the client site and check overnight email. Then I begin responding to important messages. There’s usually too much e-mail to reply to each message, so only the important ones get answered. 9:00 a.m. I meet with project manager and give progress report. We discuss strategy for lingering client issues, and set up pre-lunch meetings with client team members. 10:00 a.m. I brush up client presentation and drop a rough copy on manager’s desk for review. 11:00 a.m. Respond to partner’s voicemail asking for a quick assessment of client sentiments regarding new work. 11:30 a.m. Meet quickly with client team member. Discuss status of deliverables and voice concerns over lack of response to survey materials. Ask for high-level voicemail to be sent to encourage employee involvement in survey. 12:30 p.m. Lunch with analysts on team. 1:30 p.m. Return to desk and answer morning voicemails. Send internal consulting team at home office an e-mail, updating them about industryspecific research you conducted. 2:00 p.m. Spend the next three hours working on a last-minute presentation request from a partner in the firm. I update my manager and quickly try to assemble people to help with the presentation. 5:00 p.m. Conference call with my internal consulting team. Spend 30 minutes discussing strategies for presenting industry research at next home office meeting. 6:00 p.m. Call around for dinner reservations, then return to manager’s deck for next day’s meeting. Squeeze in a call to my significant other, who’s

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wondering when I’ll be back home – “can you make it back by Thursday night?” 7:30 p.m. Dinner with colleague on another project at the client site.

Job Descriptions Business analyst, first year Business analysts spend most of their time performing research, analysis, modeling, client interviews and problem solving. After collecting the requisite data, the analyst puts together a presentation that tells a story about a particular market or industry. Such a presentation might include creating a model that describes the total amount of revenue generated by a particular industry, describing the top five players in the industry, outlining the industry’s key clientele, and analyzing the type of products generated by the industry.

Systems analyst, first year Systems analysts have either a BA, BS or an MS, and they work to implement practical technical solutions for Deloitte’s clients. Systems analysts design and install advanced systems, analyze businesses and technologies, and present their ideas to clients. The position requires frequent travel to the clients’ sites.

Summer associate Summer associates work within one industry or functional area at Deloitte. They conduct research on companies and industries, write detailed operations-focused reports, and conduct interviews with clients. Summer associates are integrated into project teams in which they work along with senior consultants to address client problems and needs. Summer associates enjoy a high degree of autonomy and receive immediate project management responsibility.

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Braxton Associates On the Job

Career Paths For MBAs MBAs with prior experience join the firm as consultants. “The firm’s promise,” notes one respondent, “is that we will try to put you in your area of expertise, [though] it’s a question of availability.” Fortunately, the firm “has a variety of practices – health care, the public sector, and so on. Everything you’d want is there.” Deloitte is “flexible about changing areas once you prove yourself. You’re not pigeonholed into an industry until you’re senior manager.” Similarly, adds another consultant, “if you would like to move around the company to different departments or move to a different location in the world, they have an excellent relocation package” and are willing to work with the employee to find a good fit. Most employees are placed in their office of choice to begin with anyway, although insiders advise “taking a hard line” in negotiations to ensure it. After putting in time as a consultant, employees are promoted to manager. “The firm’s growth will continue,” says one source. “What that means for employees is that people will be promoted to manager after one year. They may need two years if they have no consulting experience, but there are no written rules.” At this point they are “in charge of a project, and interfacing and coordinating with other teams. The manager is responsible for all financial data, like budgeting.” Additionally, they “might have more mentoring to do.” While “most people will stay for at least three years” all told, “at least 50 percent leave” while still occupying manager status. This is by far the largest drop-off point in the progression. It is “not a bad thing – it is seen as a natural move.” In fact, “there is a heavy network of Deloitte people who keep in touch” after their departure. Some “will go into finance, and quite a few to small tech firms.” Once being promoted to senior manager, “it becomes more of a commitment to consulting.” In other words, retention improves dramatically from that time forward. Senior managers are “the Grand Pooh-Bah of the project, and the key player with executive management.” They are “in charge of the basic framework your team operates in.” That does not mean that they are always directly involved in day-to-day activities, however. Senior managers “have more responsibility for selling” and may take on two or three projects at once instead of one. Unlike their underlings, for a given project, senior managers may only be “on the client site once every two weeks.” The next level up is partner, which is even less involved in projects. Partners are “selling full time.” And since “the firm is moving toward the long-term client relationship 34

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model,” as one insider explains in consultantspeak, “we might have one dedicated full time to one big client. [He or she will act] like an internal consultant there.”

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Braxton Associates

Final Analysis Braxton Associates/Deloitte Consulting is in an interesting position, relative to its fellow divested Big Four firms: It is not going through the post-merger blues a la IBM Business Consulting Services (nee PwC Consulting) or Cap Gemini Ernst & Young; on the other hand, it is not nearly as far into its transition to independence as BearingPoint (formerly KPMG Consulting). Braxton is also the only former Big Four not to be either bought or taken public, and its partnership status will likely help it avoid the sorts of corporate cost-cutting and shareholder pressures that will visit its cohorts. And its wellplanned, if relatively low-key, rebranding will only help the firm move toward a complete separation from Deloitte & Touche. The firm faces two challenges in the near future. First, it must develop a clear strategy for differentiating itself from its much larger competitors, Accenture, EDS and IBM BCS. IT consulting is an industry where size is an enormous advantage, and Braxton must look to alternate angles – emphasizing its strategy expertise, for example – to keep an edge in the market. Second, the firm must decide whether to enter the burgeoning IT outsourcing market – a key strategy element at Accenture, EDS and IBM BCS. If it enters the market, it runs the risk of both being outsized and being burdened with a service that is fast becoming a commodity. On the other hand, not entering the market may deprive it of an asset that is already providing enormous profits for its competitors.

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Braxton Associates

Recommended Reading Braxton partners have authored a number of books on strategy and operations management, and it is a good idea to have at least a passing knowledge of some of these when you interview. Most recently, the firm launched The Heart of Change, by partner Dan Cohen and Harvard Business School professor John Kotter. The book argues for a more demonstration-based (rather than theory-based) approach to instigating change within an organization. More on the book and other Braxton titles can be found on the firm’s web site. The firm also provides a series of free white papers on its web site, including such titles as “Bubbleheads: The Fruitless Search for the Next Bubble” and “Strategic Flexibility in Life Sciences.” These are also worth reading – not so much for their specific content, but rather to get a feel for the kind of thinking the firm fosters and the methods by which its consultants approach problems. Recommended articles about Braxton Associates/Deloitte Consulting include: • “Deloitte Consulting to be privately held, independent,” IT World, June 7, 2002. • “Deloitte Restates Its Case,” Fortune, April 29, 2002. • “Deloitte Looks to Expand,” Times Union, November 27, 2001. • “Hartsfield Computer Upgrade Stalled ‘Glaring Delay’ In Second Year,” The Atlanta Constitution, August 24, 2001. • “Deloitte Consulting is Cutting Workforce,” The Wall Street Journal, August 1, 2000. • “Consulting Firms Wage a Battle In Effort to Attract New Business,” The Wall Street Journal, July 19, 2001. • “Deloitte Workers Roll Up Their Sleeves,” The Cincinnati Post, May 12, 2001. • “Bang the Drum Quickly,” Business 2.0, May 1, 2001. • “Deloitte Backs Web Venture,” New York Times, March 9, 2001. • “So Where Do MBA’s Want to Work?” Fortune, April 16, 2001.

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