The WetFeet Insider Guide to Deloitte Consulting

Deloitte Consulting (soon to be Braxton)

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Deloitte Consulting (soon to be Braxton) ISBN: 1-58207-255-8

Each WetFeet Insider Guide represents hundreds of hours of careful research and writing. We start with a review of the public information available. (Our writers are also experts in reading between the lines.) We augment this information with dozens of indepth interviews of people who actually work for each company or industry we cover. And, although we keep the identity of the rank-and-file employees anonymous to encourage candor, we also interview the company’s recruiting staff extensively, to make sure that we give you, the reader, accurate information about recruiting, process, compensation, hiring targets, and so on. (WetFeet retains all editorial control of the product.) We also regularly survey our members and customers to learn about their experiences in the recruiting process. Finally, each Insider Guide goes through an editorial review and fact-checking process to make sure that the information and writing live up to our exacting standards before it goes out the door. Are we perfect? No—but we do believe that you’ll find our content to be the highestquality content of its type available on the Web or in print. (Please see our guarantee below.) We also are eager to hear about your experiences on the recruiting front, and your feedback (both positive and negative) about our products and our process. Thank you for your interest. The WetFeet Guarantee You’ve got enough to worry about with your job search. So, if you don’t like this Insider Guide, send it back within 30 days of purchase and we’ll refund your money. Call us for details or e-mail us comments at 1-800-926-4JOB or [email protected]. Photocopying Is Prohibited Copyright© 2002 WetFeet, Inc. All rights reserved. This publication is protected by the copyright laws of the United States of America. No copying in any form is permitted. It may not be reproduced, distributed, stored in a retrieval system, or transmitted in any form or by any means, in part or in whole, without the express written permission of WetFeet, Inc.

Table of Contents Quick TOC Cheat Sheet

1

Th e Fi r m

3

On the Job

9

T h e Wo r k p l a c e

15

Getting Hired

27

Fo r Yo u r R e f e r e n c e

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Braxton at a Glance

1

The Firm Overview Industry Position Organization

4 6 7

On the Job Analyst Project Controller Senior Consultant

10 12 12

The Workplace Lifestyle, Culture & Hours Workplace Diversity Women on a Roll Compensation Travel Vacations, Benefits, Perks Training Career Path What Employees Really Like Watch Outs!

16 18 18 19 19 20 20 21 23 25

Getting Hired The Recruiting Process Interviewing Tips Grilling Your Interviewer

28 29 30

For Your Reference Recommended Reading The Numbers Key People Recruiting Contacts

32 33 34 34

S H E E T

Headquarters Braxton 25 Broadway, 14th Floor New York, NY 10004 Phone: 212-618-4000 Fax: 212-618-4500 Website: www.dc.com or www.braxtonglobal.com

C H E A T

The Braxton Cheat Sheet

Primary Competitors Accenture, Cap Gemini Ernst & Young, PwC Consulting, CSC, McKinsey & Co., Booz Allen Hamilton, The Boston Consulting Group, KPMG Consulting. Key Differentiating Factors > Collegial and down-to-earth environment in which people generally check their egos at the door > Executable strategies that Braxton helps implement. That means working in the trenches and collaborating with clients on projects. > Deep expertise in operations consulting. > Focus on maintaining the work-life balance and giving employees a say in the direction of their career paths. In the Recruiter’s Words > “We look for people who understand the team dynamic. People who are confident but not arrogant. People who will be comfortable calling the CEO by his first name.” > “Here, it’s all-for-one, one-for-all. It’s more like a club, not a business.” > “We want to make sure that candidates understand the lifestyle of a consultant.” > “Our job isn’t the easiest; it’s very dynamic and changing, and a sense of humor helps.” In the Interview > “Grades are more important for undergrads. For MBAs, we look more at personality, prior work experience, and your interest in the company. Make a point of coming up and introducing yourself at events before the interview.” > “Don’t stress out. Beyond doing your homework about the company, you can’t really study for this. In the first interview, we mainly look at one thing: Do you fit in? There is a Braxton type of personality: smart, outgoing, strong communication and interpersonal skills. You have it or you don’t.”

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S H E E T C H E A T

> “Braxton’s big thing is the collegial nature of its people. In contrast, McKinsey hires sheer brainpower. We don’t want arrogance, prima donnas. Our people like working with clients, not lecturing at them.” > “We look for adaptability, variety, and leadership. If you’ve only worked at a paint store, then tell us how you moved up from sweeping the floors to custom-color mixer to regional manager.” What Insiders Say > “Once in, it’s a lot like college in a way: You’re a generalist at first. You’re given a period of time, then you ‘declare a major.’” “Management is very respectful of junior staff. As an analyst, my opinion was always valued. Now as a manager, I return the favor.” > “Other consulting firms pigeonhole you a lot more. Here, we’re less hierarchical. On one project, I was brought in to do a testing role. After three months, I was made a team manager. That opportunity wouldn’t have come up elsewhere.” The Career Ladder Undergrads enter as business analysts, systems analysts, or project analysts. MBAs enter as senior consultants.

Personnel Highlights Total number of professionals/employees 2001, world:

11,935 (as of 7/25/02)

Total number of professionals/employees 2001, U.S.:

5,354

Estimated number of new undergrad hires 2002, world:

300

Estimated number of new MBA hires 2002, world:

125

Estimated number of new summer hires 2002, world:

125

Estimated number of experienced hires 1999-2000, world:

1,000

Compensation Figures Estimated starting salary, undergrad hires (business/systems analyst), 2002: $50,000 to $60,000 Estimated signing bonus: Estimated relocation bonus:

depends on need

Estimated starting salary, MBA (Sr. Consultant) 2002:

$90, 00 to 120,000

Signing bonus:

Paid for second year of school, plus $10,000

Estimated relocation bonus: Estimated starting salary, summer intern 2002: Estimated signing bonus:

depends on need $1,000 to $2,000 per week $0 to $1,000

Source: WetFeet research

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$0 to $1,500

The Firm “[Braxton] can be a land mine for many who prefer one type of functional consulting over another, but a rich opportunity for those who prefer a broad mix of experiences.”

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T H E

F I R M

Overview New name. New ownership. Old friend. Braxton, formerly known as Deloitte Consulting, is still one of the world’s largest consulting firms, serving more than one-third of the Fortune Global 500 with 12,000 consultants in 33 countries. It’s still a full-service shop that does it all, from research through implementation. Moreover, it still views itself as a humane, balanced, and enjoyable place to work for, where talent can rise quickly. A quick history lesson: Deloitte Consulting (DC) was born in 1995 as the consulting arm of the London-based Deloitte Touche Tohmatsu international accounting firm, founded in 1845 by former bankruptcy clerk William Welch Deloitte. DC’s fast growth mirrored the economy’s in the go-go ’90s, then slowed with the dot com collapse, the recession, and blowback from the EnronAndersen mess. With all consultancies compelled to split from parent accounting firms, DC “reluctantly” (its own words) set a separation plan in motion. In the summer of 2002, it drew its new name from Braxton Associates, a strategy-oriented consulting firm DTT bought in 1984 and subsumed into DC in the late ’90s. Although the old Deloitte name brand didn’t carry the cachet of strategyoriented firms such as Bain, Booz Allen Hamilton, or McKinsey, its name recognition and reputation rose in the late ’90s with a successful ad campaign and a broadening of services. Braxton now competes with other large and midsize consulting firms for the business of companies that do more than $500 million in sales. It touts itself as a one-stop shop that designs “executable strategies” that it will help implement.

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Although, like their rivals, Braxton consultants often camp out at the client site for weeks or months at a time, the company claims it differentiates itself with more personalized client contact. First, Braxton replaces the industry’s standard top-down “pyramid” hierarchy—light on partners and heavy on junior people—with one that is fatter around the middle—what one insider called a “diamond.” Next, its consultants have a predilection for “riding around for a week in a beer truck.” The meaning of this often-told company anecdote is clear: If your client is a beer distributor, you need to get out of the office and smell the hops. The result of the above is good conversation—and good research. “Our clients simply enjoy working with us more than our competitors. We collaborate better and are more responsive to their needs,” says one insider.

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T H E F I R M

Following a reorganization last year, Braxton deploys consultants in three competencies (Strategy & Operations, Technology, and People-training and customer relationships) and integrates process capabilities (formerly a separate competency) into each. It services seven industry groups (Health Care, Manufacturing, Consumer Business, Communications/Media, Financial Services, Energy, Public Sector) in three geographic regions (East, Central, and West). New people are hired into a particular city’s office and generally work in a geographic region. As your career develops, you’ll gradually specialize in a service line and industry group. Initially, however, you’re likely to work with a veritable candy store of different project types. “It can be a land mine for many who prefer one type of functional consulting over another, but a rich opportunity for those who prefer a broad mix of experiences,” says one insider. The challenging work and long hours are paired with what Braxton believes is a unique consulting-industry characteristic: a workable lifestyle. “Workable” has two aspects: Theoretically, fewer hours away from home than its rivals (a “3-4-5” standard—a max of three nights in a hotel and four days at the client in a fiveday week), plus a down-to-earth company culture that includes title-less business cards, mandatory use of first names from the CEO on down, and a strong emphasis on “fitting in.” The latter refers to having a “Braxton personality,” which apparently is identified and ranked over GPA and raw intellectual horsepower early in the university recruiting process. Ideally, arrogant types are expunged in the first interview; hopefully, only “nice guys” get in. Nearly all company insiders speak affectionately of a collegial, unpretentious atmosphere where hierarchies are downplayed, good ideas rule, and a formal mentoring network is taken seriously. Braxton tries to stoke employee morale with formalized internal structures. Two committees, the BAAC (Business Analyst Action Council) and the GSAAC (Global Systems Analyst Advisory Council), both begun in 1998, provide regular forums and networking for young consultants. With such efforts, Braxton was number 12 on Fortune’s 2001 list of America’s 50 Most Coveted Employers, its fifth straight year on the list. Fortune also singled out Braxton for its Day in the Office, a monthly celebration of top employees. That same year, Consulting magazine named Braxton to its Top 10 Best Consulting Firms to Work For because it “does its best to help employees juggle work and family pressures.” Braxton’s culture-centrism can’t be overemphasized. A common refrain from insiders is that “lots of people from rival firms hire into Braxton, but none of us go the other way. If we leave, we leave the industry.” An explanation for that from a five-year vet: “Face it, the work at these consulting firms isn’t much different. So you may as well work with people you like.”

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F I R M T H E

Industry Position Braxton competes with other large and mid-size consulting firms. It provides a wide range of general management and information technology consulting services. Its particular strength is in operations consulting, as well as strategic planning, financial management, and productivity. According to Consultants News’ June 2002 ranking of the "50 Largest Management Consulting Firms in the World," Deloitte Consulting (what Braxton was before it was renamed) came in at number 4 with global consulting revenue at $5,635 million for the fiscal year 2001 (ending May 31, 2002). Additional stats posted by Consultants News include: 0 percent growth in global consulting over fiscal year 2001; U.S. consulting revenue for the same period at $3,045 million; and a 6 percent decline in the U.S. market alone. Consultants News figures include revenue from both Deloitte Consulting and Deloitte Touche Tohmatsu (DTT). That said, according to its annual report data, Braxton may be more appropriately slotted in at sixth place with global consulting revenue amounting to $3,493 million. This translates into a one-year growth of 11 percent in this area. The Braxton annual report also records $2,387 million in consulting revenues for all of the Americas. This marks an 8 percent growth in that region. IBM, Accenture, and Cap Gemini Ernst & Young came in one, two, and three in the Consultants News ranking, with global consulting revenues of $10,800 million, $9,460 million, and $5,875 million, respectively, for fiscal year 2001. Note: Revenue information used for the ranking was based on estimates; most companies that were ranked are private and do not release revenues.

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F I R M

Three Regions

T H E

Organization Braxton is headquartered in New York, but is divided into three regions (East, Central, West), with individual offices in each.

Seven Industry Groups The company has expertise in a wide array of functional areas, and serves most big-ticket industries, including: Energy Financial Services Health Care Manufacturing Public Sector Communications & Media Consumer Business

Three Competencies To service the above, Braxton is broken into three functional competencies, each of which integrates process capabilities: Strategy and operations Technology People (training and customer relationships)

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F I R M T H E

Many Service Lines Each of the above competencies has associated service and subservice lines, which are numerous and constantly changing based on client demand. Some of them, like financial management or change leadership, may even cut across several industries, complicating the organization. For that reason, most people at Braxton can’t name them all. “Heck, who at IBM can name all their divisions?” says one insider. “It’s no different here.” Here are a few: Enterprise Applications: PeopleSoft; Oracle; SAP Information Technology Services: CRM; SAP; Infrastructure: Information Strategies; Systems Integration Outsourcing: Information Technology Outsourcing; Business Process Outsourcing People: Change Leadership; Educational Services Process: Mergers & Acquisitions; Program Leadership; Reengineering; Shared Services; Supply Chain Results Strategy & Financial Management: Strategy; Strategy Enterprise Management; Reorganization Services Cross-Service-Line Initiatives; BRPR Initiative; ERP’s Second Wave; eBusiness; Solution Centers By the time you become a manager, you’ll likely have developed an expertise in one or two such divisions. If you’re an experienced consultant with a glowing reputation in the firm, insiders say that Braxton is more open about allowing you to change divisions than other consulting firms.

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On the Job “The degree of independence given to an analyst is directly proportional to your ability to handle the work load.”

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O N

T H E

J O B

Analyst The responsibilities of analysts don’t differ fundamentally from those of senior consultants or even more senior people. At first you might be asked to do some backstage work, with little chance of harming a multimillion dollar relationship, but the goal is to get you out in front of the client early on, where you’ll be adding value left and right. Often, analysts produce deliverables (the real-world analog of homework assignments), which managers and partners read over and revise. Insiders say this is where you can prove yourself: “This method allows superlative performers to really shine, since their first drafts may actually become final or close-to-final drafts to clients.” Once you excel at these assignments, the scope of your responsibilities increases. Analysts have been known to run sizable chunks of a project and even entire small projects, with responsibility for five or more team members. “In my experience, the degree of independence given to an analyst is directly proportional to your ability to handle the work load,” says one insider. Here are some typical duties: > Gather data through client interviews, research, and observation (they’ll be calling you “Scoop” in no time!) > Conduct operational and financial analysis of data > Present findings to team members; persuade managers to adopt your recommendations > Research and prepare sales proposals > Recruit more analysts > Systems analysts: design and test program modules

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12:00 12:35

2:00 3:00

4:00

5:00

6:00

9:00

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J O B

7:00 9:30 10:00

Get coffee and check voice mail and e-mail. Used to playing voice mail at fast speed; it’s like sucking helium. Today’s going to be busy: first day on a new project in Seattle. Catch flight, barely. Damn security. Damn Osama. Rent car, drive to client site. Check e-mail, voice mail. Head to project room to meet the team. Shake hands with tight group of seven—analysts, senior consultants, a manager. Most met already on a conference call last week, but not me. Just got my marching orders yesterday and had to race home from Santa Barbara. We organize, decide who’s going to do what, reassess, sign off on a pre-sold timeline. My mind’s processing and collating like a Cray supercomputer. This schedule’s going to be rough. But the project’s meaty: coming up with four new markets for this beast. Meeting’s running overtime; order lunch—Thai food. I’m gonna like this group. Check voice mail—make decisions for upcoming analyst social event, explain to practice development project manager that I will be out-ofpocket for the next day and a half. Meet with the client sponsor, the guy who dealt with our partner. Also, meet with a couple of his top underlings. Outline the plan in detail. Now, the kickoff party. Standing room only. The Braxton team is introduced to all of the client’s need-to-know personnel. I corner a few key folks and set up interviews. First interview. Hey, why wait?—I love asking questions, like a regular Geraldo Rivera. Heck, they don’t pay Braxton $250 an hour for me to read People magazine. Client personnel call it a day, but I grab a Snickers bar, race through e-mails and voice mails, and start surfing. No, not eBay, man. Research. Gotta present a trends analysis tomorrow at 9:00 a.m. Bang out PowerPoint presentation. Half the gang’s going to dinner and a Mariners’ game at 6:30 with the client, but Ichiru will have to wait. I won’t be done for another hour. Check e-mail for fan letters. Call the significant other. Grab a fivepiecer at an El Pollo Loco drive-through and head for home sweet home: mama Marriott. Wired and tired, I plan tomorrow’s assault. And wish Dave Letterman sweet dreams.

T H E

5:30

O N

A Day in the Life of an Analyst

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O N

T H E

J O B

Project Controller The project controller program, which contributes to the consulting program but is distinct from it, was started in 1995 in Orange County and subsequently went national. Project controllers work with project teams to measure progress and maintain budgets. They also coordinate with clients to ensure efficient use of the project team’s resources. Here’s a general overview of a project controller’s tasks: > Manage finances for the project, including budget. > Develop and maintain a work plan. > Analyze profitability and time utilization, making sure the resource usage is at its optimal level. > Document and organize the progress of a project. > Report status on projects. > Make sure that the team is communicating properly, and maintain morale in the group. > Work on human resource management; for example, develop project support processes and human resource orientation processes. > Prepare client presentation materials.

Senior Consultant Senior consultants are expected to exercise their management skills and use a lot of other gadgets from that MBA toolbox. You will often have primary responsibility for a small project team or a small part of a larger team that includes clients and analysts. One senior consultant estimates that, over the course of a day, 20 percent of your time is spent with Braxton teammates, 30 percent working independently, and half of your time working with clients. Specifically, you will:

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> > > > > > > >

Determine and evaluate the appropriate analysis to be done. Manage and guide analysis in progress. Interpret the results of the team’s analysis. Prepare and deliver presentations to Deloitte Consulting and client management. Lead “visioning” and brainstorming sessions. IT practitioners: Manage systems development through design, programming, testing, and implementation. Woo MBA candidates during recruiting season. Participate in office initiatives such as the development of new divisions.

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12:30 1:30

2:30 3:30

5:00 6:00 7:30 8:00

J O B

6:00 9:30 10:30

Check voice mail and e-mail; answer what I can before the cab comes. Gotta love Mondays! Ride to airport; catch the 7:00 flight to the client site. Arrive at the client site. Check e-mail and voice mail (again). One-hour meeting with the client to verify some strategic questions I came up with over the weekend. Back to desk. Check e-mails and work on client presentation for the partner. (A partner normally shows up three or four times a month, but this project has six partners and 250 Braxton bodies on it, so there are a lot of presentations.) Lunch. It’s always a working lunch, whether I grab fast food alone, or, like today, chow down at a team meeting. Another meeting, of course. You are trying to balance four or five people’s schedules, so right after lunch is prime meeting time. Good thing about being this hectic is that you never fall asleep no matter how much you ate. Run back to desk. Check email. Spend next 45 minutes working on a strategic concept PowerPoint presentation for the next meeting. Ninty-minute PowerPoint presentation. Hand out printouts rather than project on a screen; seems I get better input and changes they’d like to see this way. I always ask the big question: How can we do this more accurately to reflect your business? Go to wrap-up meeting with my manager to report what just transpired with the client. Spend next hour or 90 minutes working on what my manager and I just discussed. Have it ready for delivery the next morning. Check e-mail. I’m outta here. Check in to the hotel. Grab a bite to eat and a J&B and soda. Catch re-run of Seinfeld on Channel 13 while doing stretching and yoga. Shower, review tomorrow’s schedule, and set alarm. Zzzzz.

T H E

5:30

O N

A Day in the Life of a Senior Consultant

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The Workplace “I’ve operated above my level more often than not. There are a lot of partners who I can walk into their office or give a call, and they don’t think twice about it.”

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W O R K P L A C E T H E

Lifestyle, Culture & Hours People who prefer to live in a Club Med-like setting should work for Club Med. The consulting life is the consulting life, and Braxton’s no exception. Long hours. Many days on the road. Constant challenge, big issues, lots of pressure. According to one insider, “You don’t know all the answers, but people expect you to. It’s fun, stressful, exhilarating, and tiring.” “At Braxton, you’re expected to charge the client 45 hours a week,” says one insider, “so you average between 45 and 55—maybe more, depending on the project, the duration, and the deadline.” Projects last from four to six months on average, with technical projects often lasting longer. Consultants generally work on one project at a time; four to 12 consultants per project is typical, with gargantuan efforts pushing 100. Each team has a project manager who may or may not be in the trenches. Although it is team-based, “you generally have your piece of the pie.” Nobody is necessarily checking up on you at each moment, but you do need to get your part of the job done. Most teams include clients; Braxton considers this essential to producing lasting change. Despite the long hours, Braxton tries to assure its employees some work-life balance by adopting a “3-4-5” policy: three nights a week away from home, four days with the client, and Friday at the home office. This policy makes it possible to serve clients and still attend to the important stuff, such as an occasional dinner party and your daughter’s trip to the dentist. Braxton allows some flexibility in work arrangements and leaves of absence. If you’re adventurous, an “expense neutral” policy lets you turn your weekends into three-day vacations. One insider claims he took 40 three-day vacations in his first year, jetting off from the client’s office every Thursday night for Aspen, Puerto Rico, or Miami, and returning Monday morning with tales to tell. Although you’ll probably work far more than you ever imagined (after all, what else is there to do in Salt Lake City?), several insiders say that, on the whole, they “work less than people at other consulting firms.”

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W O R K P L A C E

To encourage team spirit, Braxton creates situations in which employees can socialize and unwind together outside of the client. These include Third Fridays (monthly general sessions), office Olympics, barbecues, dinner cruises, formal dinner dances, picnics, weekend retreats, and Global Impact Day, in which the whole office completes a community service project. “At least 60 percent of our Washington, D.C. office went to a ghetto elementary school to help paint a mural on a wall, teach a class, and plant a garden” according to an insider. “It was a wonderful feeling.” Insiders like the interaction among employees and that the firm cares about them. Some attribute this to Braxton’s being privately, not publicly held, thereby eliminating stockholder scrutiny over non-revenue-generating expenses.

T H E

A Culture “of the People” The firm’s rep for “riding with the beer-truck drivers” fuels a culture that is of the people, not above the people. Ego and arrogance are frowned upon; hierarchy is minimized; the emphasis on fitting in with a team of “nice, solid people” starts at the first college interview.

Ultimately, don’t get idea that Braxton’s a pleasure cruise. Work-wise, says one insider, the atmosphere is strictly no-nonsense; action and results are held in high regard, and there’s less need to put in face time or to sell yourself over and over again as there might be at other firms.

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W O R K P L A C E T H E

Workplace Diversity Braxton’s commitment to diversity isn’t just lip service. The company’s put its money where its mouth is, appointing in 2000 a full-time director of diversity services responsible for all diversity education and retention programs. “It’s a growing pipeline for minorities and women,” says Director David E. Lee. But that’s not all. Braxton has formally recognized the grassroots-bred Affinity Group Network for African-Americans, Latinos, and Gays/Lesbians, going as far as to appoint a partner-level national lead and local office chapters. Manoj Singh, Braxton’s managing director of the Americas, established the Americas Diversity Advisory Council, a group of 20 to 25 partners who advise him on diversity issues and set strategies for increasing minority representation. Braxton also targets historically black colleges, has established a minority liaison who holds candid “fireside chats” on consulting life with minority students at select universities, and has an INROAD Program, which brings minority undergrads in as interns. As of the summer of 2002, the staff of Braxton is 38 percent women and 29 percent ethnic minorities. “Those are significant increases over past years, with more on the way,” says the firm’s national recruiter responsible for diversity.

Women on a Roll “I’ve actually been in a room where there are no men,” says a female senior consultant at Braxton, who guesses there is a 50-50 female-to-male ratio at the analyst level and a one-to-four ratio at the senior consultant/MBA level. The Initiative for the Advancement and Retention of Women, begun in 1993 to reduce a high female turnover and low representation in leadership positions, is having a dramatic impact, say insiders.

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The initiative includes parental leave, career monitoring for both female and male professionals, and even “Men and Women as Colleagues” training for all managerial levels. In general, the initiative is designed to assure that women are not at a disadvantage at the firm, not simply to grant women higher positions. The results: In 2000, 14 percent of partners were women, up from 6.5 percent in 1993. By 2005, the goal is 35 percent. The turnover for both genders is now about equal; “We only leave now to have babies,” says one female insider laughingly. Women are now on the Board of Directors and

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W O R K P L A C E

Compensation

T H E

Management Committee. In 2001, Working Mother magazine ranked the firm among the Top 100 Companies for Working Mothers for the seventh year in a row.

Although still quite competitive, recent Braxton salary packages have taken a hit along with the economy. Salaries, once increasing from five to 12 percent per year, were cut across the board from three to 30 percent in 2001 to 2002, depending upon position. Signing bonuses, once as much as $5,000 for undergrads and $25,000 for MBAs, are now “small or none,” says one insider. New analysts’ salaries, once cresting $65,000, now top out in the mid to high $50,000s. Braxton offers to pay the business school tuition of its strong performers, provided they come back after receiving their MBAs. The firm offers a forgivable loan arrangement; those who serve for three years after earning their MBA have the entire loan forgiven. Estimated 2002 starting salaries for MBAs will be $90,000 to $120,000. Because Braxton recruits at more business schools than many of its competitors, salaries may vary. Insiders tell us that new hires from national schools tend to get higher offers than those from regional schools. Summer associates who are offered full-time positions will get reimbursed for their second year of tuition at business school. (About 80 to 95 percent of summer associates receive offers of this nature.)

Travel Sign up for all of your favorite frequent-flier programs when you sign on with Braxton. The frequency of travel at the firm is billed at “30 to 40 percent,” which insiders say is true—on average. Energy industry consultants who aren’t based in Texas probably fly 100 percent of the time. New York City consultants with finance-industry clients don’t fly at all. Those who do travel usually fly out on Monday and back on Thursday or Friday; weekend travel is very rare. Travel requirements vary from office to office, depending on the client mix. And it’s not always glamorous: “For every trip I get to Paris, I get a couple to Carlton, Georgia,” says one insider.

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W O R K P L A C E T H E

Vacations, Benefits, Perks Braxton gives its new employees three weeks of vacation per year. Senior consultants get 23 days off a year. If you take one or two weeks off, that’s generally fine, but being able to take all three (or four) weeks in one shot will depend on the team and office you’re in. Assuming it’s scheduled in advance, vacation is generally considered sacred, even if your client suffers an unforeseen matter-antimatter reaction. The truth, according to one insider: “It’s actually almost too many days for you to be able to take them all.” New employees can take advantage of the 401(k) plan; Uncle Braxton will benevolently match a portion of your contributions—up to 25 percent of the first six percent you put in. On a less fiscal note, a program called Third Friday Fly Back encourages consultants to get back to the ranch for the third Friday of every month for schmoozing, and continuing education of general or special interest.

Training

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Every new hire goes to what one insider calls “consulting boot camp.” Both undergrads and MBAs go on similar intensive, two-week training programs. For undergrads, the first week is devoted mostly to developing fundamental consulting skills and also includes local office procedures and logistical information. The second week focuses more on a specific area. At that time, managers themselves may lead the training for some industries. The same progression of general to specific is true with MBA training, in which the technical services are separated from the business services. Apparently, although training is intensive, much bonding goes on during the in-between time. “It’s a total party time,” says one insider. In the meantime, you are also working like a banshee to prepare to take on the job. Insiders say that a couple of years ago boot camp training was revamped to be more relevant to the job, and since then, it has improved significantly. The same is true of continuing training for consultants already on the job: Training programs have taken a budget cut, and their coordinators are much more careful to make them relevant to a consultant’s particular service line.

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W O R K P L A C E

Braxton lays out a reasonably clear career path all the way up to that brass ring known as partnership. The notion of up-or-out isn’t unheard of, but “it’s a rarity that people stay frozen at one level,” says an insider.

T H E

Career Path

Undergrads hired as business analysts (BAs) or systems analysts (SAs) receive significant continuing education, and typically stay for two or three years. Then, they often attend B-school, and return wiser and-once they’re back on salary and their loan has been forgiven-richer. BAs chosen to stay on for the third year are promoted to associate consultant. SAs typically work two years until promotion to consultant, and have the option of pursuing an MBA or master’s in a technology-related field. Those who stay two to three years could earn a promotion to senior consultant. Undergrads can also be hired into a project controller’s program. Starting as project analysts, they are slowly promoted to project controller, senior project controller, and finally project controller manager. Project controllers may leave the program to join the consulting side, and they may be promoted as a systems analyst or consultant. First-year MBAs from top business schools who get hired as summer interns are usually offered full-time positions as a senior consultant, often including tuition reimbursement for your last school year. Senior consultants get promoted to manager in two or three years. Some hard-working managers get rewarded with an 18-month tour of duty in another country, from Argentina to Hong Kong to New Zealand, through a well-paying program called the Global Careers Development Program. This program, which includes language training, is considered more important as the company integrates international affiliates. After three years, managers have typically gained an industry specialization and moved up to senior manager. After four years, MBAs can choose from two tracks: partner or director, the latter a non-equity partner position with fewer sales responsibilities. Insiders say the director position was designed to retain bright individuals who seek to focus on a “technological career” without leading major projects or bringing in new business. New industry hires start at a level that is entirely dependent on previous experience. New consultants have come in at every level, from consultant to partner. Once in the mix, their opportunities and career paths are identical to those for campus hires.

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W O R K P L A C E T H E

Alas, a few misguided souls do leave the firm (turnover is somewhere between 12 and 16 percent). Insiders report that alumni generally do not seek greener pastures at other consulting firms, suggesting that leaving Braxton is more a rejection of the lifestyle than of the firm. Many go to work for clients, and others find opportunities in small start-up businesses. Most analysts who pack their bags go to business school. The consensus is that if you decide to move on, you can land a plum position with relative ease.

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W O R K P L A C E

The Buddy System. Insiders uniformly praise their fellow Braxton employees, who they say display a rare blend of impressive talents and down-to-earth personality. While “everybody is on a mental level that keeps you sharp,” says an insider, the vast majority of Braxton consultants are “genuinely likable, interesting people who are fun to spend time with.” Their ego-checking impulse probably stems in part from the acknowledgment that a few competitors have higher status in the industry. As a result, there’s less of a tendency to take oneself too seriously at Braxton.

T H E

Insider Scoop: What Employees Really Like

Keeping the Work Real. Braxton’s competitive advantage, says one insider, is what it calls “The Sweet Spot:” having enough knowledge about strategy, operations, and technology to handle whatever needs arise. Being a “one-stop shop” is apparently a large source of pride, helping make collaborating with clients and overcoming resistance to change more convincing and rewarding. Many consultants point to the satisfaction they find in their work. Says one, “I can see the impact I have on the client; I’m not just writing a report to collect dust in a binder. My work is much more real.” Get a Life. Despite the business Braxton is in, the workload—and the attitude—is much more manageable than at some other consulting firms. The 3-4-5 policy seems to be followed at least 70 percent of the time, says one insider. “When I work an 80-hour week, they go out of their way to tell me, ‘Take it easy next week.’” In fact, as one consultant explains, “A 100-hour week would be frowned upon; you would be seen as unable to manage your resources.” Another insider says, “I’m not working my butt off here like my friends at other firms.” There’s little emphasis on face time, and managers are generally flexible about outside commitments, within limits. “Personal needs don’t always win out, but they do take it seriously,” one insider says. The leadership of the firm has spent a lot of time talking and listening to employees about the culture of the firm, and insiders say they have an ardent desire to make work livable and life workable for the firm’s consultants. “Work-life balance is in the air; it is part of the culture,” one insider says.

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W O R K P L A C E T H E

Hands-on Operations. Many insiders value the close client contact required by operations consulting. “I was once out at a call center with the operators in their headphones, when I noticed them logging in incorrectly,” says one insider. “That solved the mystery of why the screens kept crashing.” From observing surgeries in operating rooms to driving forklifts in distribution centers with $100 million in inventory, insiders feel that they’re witnessing how businesses are really run and are getting the chance to make meaningful improvements. Titles Shmitles. From business cards that don’t carry titles (“I thought that was kind of funny at first,” says one analyst) to project meetings where it’s hard to tell the analyst from the manager, Braxton cares little for hierarchy. Instead, the organization rewards proven performance with greater responsibility. “It’s an entrepreneurial atmosphere—you can send a sharp analyst to talk to the client,” says one insider. “I’ve operated above my level more often than not,” says another. “There are a lot of partners who I can walk into their office or give a call, and they don’t think twice about it.” This is particularly true if you’re staffed on a long-term project. A Kinder, More Sensitive Firm. In this fast-paced, competitive industry, Braxton takes time to make sure its employees are feeling good. “The attitude is, ‘You’re a person, not a robot, said one insider. “It’s really a sensitive place for a consulting firm,” according to another. Another called Braxton “the most paternalistic firm I have ever worked for.” Each consultant is paired with a “counselor”-a senior person who serves as advocate and mentor. The general feeling is positive. “Mine has been outstanding, a real resource for me,” one insider says.

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W O R K P L A C E

Long-Distance Lifestyle. Even if you like the thought of Braxton’s operations focus, there is a downside. One insider explains the equation: Operations plus implementation equals your very own parking sticker at the client site. “It’s a big switch from working at a ‘regular company,’” says one insider, “but that’s the point of consulting.” You’ll spend the lion’s share of your time at the client site, a major disruption to your lifestyle if the job is out of town. If you don’t like long-distance pillow talk, start checking out another profession.

T H E

Insider Scoop: Watch Outs!

Let’s Get Along. Variety is the spice of life—or at least you’d better think so. A consultant’s projects, working conditions, and quality of partners and managers may be radically different from one week to the next. “You normally get a room with five cubicles and separate phone lines, but I was at one job where six consultants shared a table and one phone for two months,” says an insider. “On the other hand, one time I got an entire floor and great view.” Get used to a lack of privacy (“you can’t even pick your nose”) due to close quarters, working lunches, working dinners, and late hours together. Don’t make an intense, time-crunched situation worse by fretting over team members’ incompatible work habits; remember that good ideas come from everyone.

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Getting Hired “If you’re haughty or arrogant, don’t bother [applying. The recruiters] will find out sooner or later.”

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H I R E D G E T T I N G

The Recruiting Process Braxton recruits at many of the top undergraduate and B-schools. To get an interview, either contact your campus recruiter directly or introduce yourself at Diversity Fireside Chats or other pre-interview events held at the school or local restaurants. (Check your career services center for a schedule.) If your undergraduate school isn’t on the Braxton itinerary, try to get an interview by tracking down the recruiter at your preferred locale. Expect the selection process to take two or three rounds, with one to three interviews in each round. Reportedly, candidates from prestigious schools often have their pick of regional offices. Not from Harvard? If you want to work in a different region, try contacting those offices independently. Transferring an offer to another office is not easy or swift, although insiders say the firm has tried to accommodate new hires or their spouses. Special Information for Undergraduates Undergraduate recruiting occurs regionally at more than 70 schools. A strong GPA, though important, is considered less so than intelligence, poise, business savvy, relevant experience, and internships. Recruiters like well-rounded, selfmotivated types with communication and leadership skills. All majors—ranging from economics and business to liberal arts—have a shot at business analyst positions. For systems analyst positions, engineering, mathematics, and computer-science majors have a leg up, with techy novices often viewed as requiring a great deal of catch-up. For project analyst positions, economics or business majors with budgeting experience are preferred.

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Special Information for MBAs MBA recruiting is conducted centrally. Recruits from Harvard, Wharton, Kellogg, University of Chicago, and UCLA, as well as some regional schools, feed all U.S. Braxton offices. While the on-campus recruiting process is the best way to get on the interview list, company recruiters say they’re willing to interview any motivated, qualified applicant. Unlike other big firms that base interviews on résumé screening, Braxton is more interested in what you show in person. “Team”—as in team player—is the magic word. Professionalism, flexibility and humor go a long way. Expect a mix of behavior and case questions that’ll probe your analytical strengths and work accomplishments, and determine your ability to “fit in.”

Copyright 2002 WetFeet, Inc.™

G E T T I N G H I R E D

Special Information for Midcareer Candidates Braxton is always looking for people with real-world (non-consulting) experience. (They aren’t above luring staff away from competitors now and then, either.) Although MBA programs are the primary source of general management consultants, many health-care practitioners come from industry. More than 70 percent of Braxton’s IT consultants were hired from industry, and the rest from B-school. Experienced-hire recruiting is done first on a regional basis, then on a more detailed industry level. “Experienced hires must have very well-defined experience in our service line,” says one recruiter.

Interviewing Tips > Check your ego at the door. Although Braxton naturally seeks logical, insightful types with sound judgment, poise, self-confidence, persuasiveness, and analytical ability, its recruiters make a point of finding people who match the company’s down-to-earth culture. “If you’re haughty or arrogant, don’t bother,” says one insider. “They’ll find out sooner or later.” > Expect to be asked, “What type of consulting do you want to do?” Provide a definite area of interest—such as “health care”—but mention two or three others, too. > Show that you understand Braxton’s place in the consulting spectrum. Hint: Take this opportunity to sing the implementation song, as in, “I’d like to stick around a while and help see some of our ideas through.” > Be prepared to provide “success stories”—examples from work, school, and life that demonstrate initiative, character, flexibility, and leadership. Dredge your memory; have fresh, flattering anecdotes ready that show your potential as a consultant. > In the second interview, be prepared to act like a consultant. As the partners walk you through a case, calmly ask questions. There’s no right answer. But you’ll impress by focusing the discussion on implementation of your recommendations as they apply to various models.

Copyright 2002 WetFeet, Inc.™

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H I R E D G E T T I N G

Grilling Your Interviewer Definitely prepare a few questions of your own about Braxton. In the meantime, here are a few to get you started. > What’s the most exciting thing about Braxton right now, in your opinion? How did the recent changes—new name, divestiture— affect the company’s culture and business, for better or worse? > What can Braxton offer clients that other consultants can’t? > What investments do you think the partners will make in developing new service lines? > For systems analyst recruits: Will you support my decision to pursue an MBA? What percentage return after getting one? > What’s your turnover rate? When people leave, why do they go and where? > Talk about Deloitte’s culture. How true are reports that it’s focused more on work/life balance than its competitors?

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Copyright 2002 WetFeet, Inc.™

For Your Reference

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R E F E R E N C E Y O U R F O R

Recommended Reading Deloitte Consulting Becoming ‘Braxton’ The consulting firm is taking the new name from an acquisition made back in 1984. Source: VARBusiness; www.varbusiness.com/sections/News/breakingnews.asp?ArticleID=36445

Deloitte Consulting Rebrands as Mineral Water Although poking a bit of fun at a name that sounds like a brand of mineral water, many applauded Deloitte for the choice of Braxton, thereby avoiding the temptation to re-emerge as Thrust: or EnergIcity. Source: The Register, July 18, 2002; www.theregister.co.uk/content/28/26265.html

Deloitte Consulting has Monday: on its Mind Deloitte Consulting, not to be outdone by PwC Consulting’s name change to Monday:, has pulled out all the stops in the search for a new identity, considering no less than 3,800 suggestions. Source: The Register, July 18, 2002; www.theregister.co.uk/content/28/26257.html

Deloitte Consulting Unveils Plans for the Consulting Firm of the Future In the first major strategy presentation since the early-2002 announcement of its intention to separate from Deloitte Touche Tohmatsu (DTT), Deloitte Consulting CEO Doug McCracken formally announced DC’s plans to become a privately held company. Source: The Press Release Network, June 9, 2002; www.pressreleasenetwork.com/pr-2002/june/mainpr1292.htm

HP, Deloitte Team for Customer Consulting As part of its effort to increase stable services revenue, Hewlett-Packard struck a deal with Deloitte Consulting in which the two will help mutual customers to use expensive, difficult-to-install CRM (Customer Relationship Management) software to keep track of clients and business partners. Source: ZDNet, June 26, 2002; zdnet.com.com/2100-11-939856.html

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Deloitte Touched by Enron Mess Deloitte Touche Tohmatsu said it will “reluctantly” separate its accounting and consulting divisions, becoming the last of the field’s big five to make changes in the wake of the Enron scandal. DTT had remained on the fence as the other four top accounting firms—PricewaterhouseCoopers, Arthur Andersen LLP, KPMG and Ernst & Young—announced changes in their business practices. Source: CBS News, Feb. 6, 2002; www.cbsnews.com/stories/2002/02/06/national/main328410.shtml

Copyright 2002 WetFeet, Inc.™

F O R

For Further Study

Y O U R R E F E R E N C E

> Insiders say required reading at Braxton is (surprise!) The Wall Street Journal as well as the Harvard Business Review, and Consultants News, published by Kennedy Information, www.kennedyinfo.com/mc/overview.html.

The Numbers Braxton Revenues Year

Place

$ (Millions)

% Change

1999

World

$2,861

+37%

1999

Americas

$2,101

+36%

1999

Europe

$516

+56%

1999

Asia

$244

+16%

2000

World

$3,144

+10%

2000

Americas

$2218

+6%

2000

Europe

619

+20%

2000

Asia

307

+26%

2001

World

$3,493

+11%

2001

Americas

$2,387

+8%

2001

Europe

$661

7%

2001

Asia

$445

45%

Note: Braxton Annual Report figures, broken out of DTT totals and adjusted for currency changes.

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R E F E R E N C E Y O U R F O R

Key People Doug McCracken, CEO John Sullivan, COO Manoj Singh, Managing Director, Americas Jim Carty, HR Partner, Americas

Recruiting Contacts Margaret O’Hara Director of Campus Recruiting 25 Broadway New York, NY 10004 646-348-3047 www.braxtonglobal.com David E. Lee Manager of Diversity Recruiting 25 Broadway New York, NY 10004 646-348-3096 www.braxtonglobal.com

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Copyright 2002 WetFeet, Inc.™

Who We Are WetFeet is the trusted destination for job seekers to research companies and industries, and manage their careers. WetFeet Insider Guides provide you with inside information for a successful job search. At WetFeet, we do the work for you and present our results in an informative, credible, and entertaining way. Think of us as your own private research company whose primary mission is to assist you in making more informed career decisions. WetFeet was founded in 1994 by Stanford MBAs Gary Alpert and Steve Pollock. While exploring our next career moves, we needed products like WetFeet Insider Guides to help us through the research and interviewing game. But they didn’t exist. So we started writing. Today, WetFeet serves more than a million job candidates each month by helping them nail their interviews, avoid ill-fated career decisions, and add thousands of dollars to their compensation packages. The quality of our work and knowledge of the job-seeking world have also allowed us to develop an extensive corporate and university membership. In addition, WetFeet’s services include two award-winning websites (WetFeet.com and InternshipPrograms.com), Web-based recruiting technologies, consulting services, and our exclusive research studies, such as the annual WetFeet Student Recruitment Survey. Our team members, who come from diverse backgrounds, share a passion about the job-search process and a commitment to delivering the highest quality products and customer service. WetFeet is headquartered in San Francisco. You can visit us any time at www.wetfeet.com, by calling 1-800-926-4JOB (or 415-284-7900 from outside the U.S.), or by sending an e-mail to [email protected]. We would love to hear from you, whether you have a job success story, information about a company, new product ideas, or a suggestion for improvement. Thank you for your support!

About Our Name One of the most frequent questions we receive is, “So, what’s the story behind your name?” The short story is that the inspiration for our name comes from a popular business school case study about L.L. Bean, the successful mail-order company. Leon Leonwood Bean got his start because he quite simply, and very literally, had a case of wet feet. Every time he went hunting in the Maine woods, his shoes leaked, and he returned with soaked feet. So, one day, he decided to make a better hunting shoe. And he did. And he told his friends, and they lined up to buy their own pairs of Bean boots. And L.L. Bean, the company, was born . . . all because a man who had wet feet decided to make boots. The lesson we took from the Bean case? Lots of people get wet feet, but entrepreneurs make boots. And that’s exactly what we’re doing at WetFeet.

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