About Strategy&
Strategy& is a global strategy consulting firm that is uniquely positioned to help their employees create the best future: one that is built from the inside out on differentiation and is tailored specifically for their employees. Every day, as part of PwC, the firm builds the winning systems that are at the heart of growth.
This entails assisting their clients in making difficult, risky changes. The firm’s heritage of working on the most difficult problems for clients, combined with the breadth and depth of the PwC network, means that the firm delivers speed, certainty, and impact. Whether it’s developing a corporate strategy or enhancing capabilities by transforming functions and business units, the firm will assist their employees in generating the value they seek.
On March 31, 2014, the firm formerly known as Booz & Company merged with PwC to form Strategy&, a new type of consulting firm offering strategy-through-execution services under one roof. Strategy& collectively have over 250 years of experience assisting global clients in resolving their most difficult problems. As members of the PwC network, Strategy& is a part of a global team known for its professionalism and trust.
The firm is frequently recognized for its foresight and influence. The firm is well-known for its deep industry and functional expertise in both the public and private sectors, as well as its influential global studies and books, and its award-winning management magazine, strategy+business.
History
Strategy& was founded in 2014, when Booz & Company joined the PwC network, joining forces to create a new type of consulting firm – one that combines a century of strategic expertise with the technology and scale to make strategy a reality.
Edwin G. Booz, James L. Allen and Carl L. Hamilton – Founders of Strategy&
Strategy& is enriched from a one-of-a-kind heritage, a synthesis of its many proud legacies. In 1914, Booz & Company established the consulting profession in Chicago, and was the first firm to use the term “management consultant.” For nearly a century, the firm has assisted clients around the world in navigating changing landscapes, developing differentiation, and winning in their market.
Among Strategy&‘s many accomplishments over the years are assisting in the establishment of the contract system for Hollywood movies in the 1950s, rescuing Chrysler from bankruptcy in the 1970s, inventing the concept of “supply chain management” in the 1980s, and, most recently, assisting in the transformation of McGraw-Hill into S&P Global.
This heritage is ingrained in Strategy&. Every day, the firm reaps the benefits of practical strategy and builds on it. Strategy& employees benefit greatly from a culture that emphasizes professional development and worldwide collaboration. Clients benefit from the firm’s decades of experience recognizing and developing winning capabilities, as well as its steadfast commitment to finding the best solution.
Today, Strategy& is PwC’s global strategy consulting business and the only at-scale strategy business within a professional services network. Strategy&, proud of its past and focused on the future, is uniquely positioned to think big and deliver big for its clients.
| Website | https://www.strategyand.pwc.com/ |
| Founder’s Name | Edwin G. Booz, James L. Allen and Carl L. Hamilton |
| Foundation | 1914 |
| Headquarters | New York City |
| Type | Strategy Consulting |
| Industry | Business Consulting and Services |
| Locations | Africa, Americas, Asia-Pacific, Europe, and Middle East |
| Key People | Peter Gassmann, Global Leader of Strategy& |
| Number of Employees | 3,000+ (2021) |
| Revenue | $1.3 billion (as of 2017) |
| Consulting Services |
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| Industries |
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| Social Media |
The goal of Strategy& is to assist businesses in overcoming the challenges of slowing growth and declining profits. It also aids in the soft side of management: the people-related aspects of running a business, which are frequently the undoing of leaders.
Strategy& has five main core values which are as follows:
1) Act with integrity
- Speak up for what is right, even if it is difficult.
- Expect and deliver the best results possible.
- Make decisions and behave as if the firm’s personal reputations were on the line.
2) Make a difference
- Stay informed and ask questions about the future of the world that the firm lives in.
- Create an impact on colleagues, clients, and society through one’s actions.
- Respond with agility to the firm’s ever-changing environment.
3) Care
- Make an effort to understand each individual and what is important to them.
- Recognize the value that each individual brings.
- Encourage others to develop and work in ways that bring out their best.
4) Work together
- Beyond boundaries, collaborate and share relationships, ideas, and knowledge.
- Seek out and incorporate a wide range of perspectives, people, and ideas.
- Give and receive feedback to help oneself and others improve.
4) Reimagine the possible
- Dare to defy convention and try new things
- Innovate, test, and fail to learn.
- Keep an open mind to the possibilities inherent in every idea.
Why work at Strategy&?
Strategy& worldwide offices
Source: Strategy& website
Diverse nature of work and people
One of the best aspects of working at Strategy& is the variety; an employee will never do the same thing twice. Every new project is like starting a new job: there’s a new customer, a new problem, a new team, and a new location. This means that as consultants, they will be constantly challenged and evolve, but will always have the backing of the wider PwC network.
There will be consultants from a wide range of educational backgrounds, but the structure and logical thought process will be shared by all. A future Consultant can be identified by the way they frame and break down a problem! Strategy& employs driven, passionate high-achievers who are constantly looking for ways to improve.
Strategy& is a place where one can learn something new every day, have no set routine, and grow and evolve in a supportive environment where they are not just another anonymous consultant. Strategy& allows its employees to grow and develop with confidence… and never get bored! The people at Strategy& are extremely approachable and sociable, always willing to answer questions and offer advice.
Training
In addition to on-the-job training, the employees will participate in world-class training programs such as leadership workshops, foundational consulting skills courses, and much more.
From the moment they join the firm, it will be there for every step of the way, helping them develop the skills at each stage of their career. The firm will assist them in developing their strengths in areas such as leadership, business case modeling, hypothesis-based problem solving, and relationship building, as well as assisting in the development of new business and proposals.
Mentorship and community
Strategy& leaders are actively involved in the development of its employees, sharing their advice and experience. Active mentoring is an important part of Strategy& culture. The mentors are committed to employees’ success. They will assist employees in expanding their network, selecting the appropriate projects, exploring their potential, capitalizing on strengths, and growing personally and professionally.
Candidates will get real-time feedback on their performance to keep their careers on track. There is also a formal yearly evaluation process in place to ensure that their valuable work is properly recognized and rewarded.
When one joins Strategy&, they join a community that is both supportive and collaborative. This is reflected in its current team as well as its extended global family, which includes a large network of global Strategy& alumni. These lifelong connections assist its colleagues in achieving success throughout their careers.
Diversity & inclusion
Strategy& is dedicated to attracting top talent from diverse backgrounds and providing them with exciting career and development opportunities in a supportive and inclusive environment that allows them to reach their full potential.
Aside from its global diversity and inclusion efforts, the company has a number of notable local initiatives, such as the Women’s group in the Middle East team or the German, Swiss, and Austrian Women@Strategy& initiative, and PwC and HeForShe initiative.
Insurance, Health & Wellness
Health insurance, Accidental death & Dismemberment insurance, Dental insurance, Disability insurance, Flexible spending account (FSA), Health savings account (HSA), Life insurance, and Supplemental life insurance.
Financial & Retirement
401K plan, Performance bonus, and Retirement plan
Family & Parenting
Maternity & paternity leave, Work from home, and Reduced or flexible hours
Vacation & Time Off
Vacation & paid time off, Sick days, Paid holidays, Sabbatical, and volunteer time off
Perks & Discounts
Company social events, Mobile phone discount
Professional Support
Diversity program, and Job training
One can expect a well-defined career path and rapid advancement. They will typically spend 2-3 years at each level (Associate, Senior Associate, Manager, and Director) as they work their way up to Partner.
| Roles | Description |
|---|---|
| Associate (Undergraduate entry) | Associates gain strong core analytical, communication, and problem-solving skills and contribute significantly to client outcomes. They are mentored and supported as they develop and grow on the job. Even the most junior employees are encouraged to share their ideas and opinions. Every member of the team has a voice that is heard. |
| Senior Associate (MBA & PhD entry) | Senior Associates collaborate closely with clients and their teams to identify, clarify, and resolve complex issues that are critical to the strategic and operational success of their clients. Over time, they will gain industry and sector experience, as well as strategic expertise in their chosen field. |
| Manager | Managers direct and lead teams, demonstrating strong project management and people management abilities. As the day-to-day relationship owner, they hone their client management skills while also having the opportunity to develop leadership skills by coaching junior staff on projects and learning to lead high-performing teams |
| Director | Directors bring innovative thinking and thought leadership to large, complex engagements, advising juniors and providing feedback to partners. They collaborate closely with clients at the highest levels to address their most pressing issues. The firm’s Directors grow into its Partners of the future. |
| Partner | Partners set the firm’s strategic vision, owning and cultivating key C-suite client relationships, driving new business and creating thought leadership that positions them as clear industry and functional experts with valuable insights. As leaders of the business, they mentor more junior team members, share knowledge and insights, and help ensure a productive and inclusive working environment. |
Compensation per Position/Role
| Position | Location | ||
|---|---|---|---|
| New York (in $) | London (in £) | Mumbai (in ₹) | |
| Associate | $94,400 | £45,149 | ₹19,85,675 |
| Sr. Associate | $176,426 | £57,030 | ₹38,04,731 |
| Manager | $209,643 | £85,289 | ₹54,00,000 – ₹59,00,000 |
| Director | $268,698 | £160,265 | ₹88,00,000 – ₹95,00,000 |
Source: Glassdoor, 2022
Note: (-) indicates data not available
Undergraduate/Master’s Level Salary at Strategy&.
The below-mentioned salaries are typical for undergraduate/master’s graduates joining at the associate level
| Location | Base Salary | Bonus | Signing Bonus | Relocation Package |
|---|---|---|---|---|
| Global | $100,000 | Up to $27,000 | $5,000 | Up to $2,000 |
| Canada | C$70,000 | Up to C$14,000 | C$5,000 | – |
| UK | £52,000 | £5,200 | £6,000 | – |
| Australia | A$81,000 | – | A$11,000 | – |
Source: ManagementConsulted 2022 Report
Note: (-) indicates data not available
MBA/PhD level Salary at Strategy&
The below-mentioned salaries are typical for MBA/PhD graduates joining Strategy&
| Location | Base Salary | Bonus | Signing Bonus |
|---|---|---|---|
| Global | $175,000 | Up to $52,500 | $30,000 |
Source: ManagementConsulted 2022 Report
Note: (-) indicates data not available
| Experience Strategy& (videos) | Strategy&, Overview Strategy&, made real |
Creative space at Strategy&
Madrid (Spain) event for interns
Ilkay Boramir, Head of Recruiting, GSA – German-American conference
Note: All images are from Glassdoor.
| Tarek Kabrit | Co Founder and CEO, Seez; Venture Partner, Nuwa Capital |
| Marlene Kittel | Managing Director, HappyFoto GmbH |
| Carl Helou | Co Founder and CEO, Kammoun; Investment Banking Associate, Credit Suisse |
| Nadine McBroom | Head of Business Management, Volkswagen Consulting |
| Carola Wahl | Board Member and former CTMO Axa Switzerland |
| Markus Bechmann | Global VP of Innovation and New Business Models at SAP, Industry Business Unit, Utilities |
| Shant Oknayan | General Manager, Global Business Solutions MENAT, ByteDance and TikTok |
| Christian Feisst | CEO, GreenCom Networks |
| Rend Stephan | Co-founder and CEO, endCX |
| Markus Hilkenbach | CEO Wuppertaler Stadtwerke |
| Kristin Ashley | VP, Business Development and Strategic Initiatives, Everlywell |
| Rolf Adam | Rolf AdamRolf Adam |
| Abdulaziz Aldawood | Chief Commercial Officer, Alraedah Finance |
| Sultan W. Chatila | Chief Commercial Officer, Honeywell |
| Zeina El Kaissi | Chief Digital Director, Smart Dubai Office |
| Josephina Sokhn | Associate, Audacia Capital |
| Ivan Jakovljevic | Chief Development Officer, STV |
| Tala Nsouli | General Manager, Urban |
| Riyad Abou Jaoude | Managing Director, Middle East Venture Partners (MEVP) |
| Paul Mallee and Rami Shamaa | Co-founders and Managing Directors, Maison Privee |
To help alumni stay connected to the firm, Strategy& has a dedicated page featuring events and activities happening around their region. The page also helps alumni get the latest updates on the firm and upcoming events.
Read more here: Strategy& Alumni
The process
The Strategy& Application process is divided into the following stages:
- Resume and cover letter
- Online assessments
- Interview – first round and second round
The interview process at Strategy& begins with the submission of a resume and cover letter online. Their typical recruitment cycle occurs in the fall of each year, but they do occasionally hire off-cycle, particularly at smaller network firms. They are looking for candidates who demonstrate their strong characteristics in their applications, as well as strong academic records and relevant experience.
Strategy& has adopted PwC’s online assessments, which consist of three stages: a numerical reasoning test, a games-based assessment, and a video interview. The assessments take more than 2 hours in total and are spread out over 4 weeks, so it may take some time to be invited for final interviews.
Strategy& has adopted the “super day” interview format, in which both the first and second-round interviews will be held on the same day. Candidates who pass the online tests are invited to the first round of interviews. On the morning of the interview day, there are two first-round interviews. Junior consultants typically conduct the first round of interviews, which consist of 15 minutes of a fit interview followed by a case interview question. The first round includes two interviews, and candidates will be given feedback and a decision at the end of the day.
Senior consultants (partners and directors) conduct the second round of interviews, which follows the same format as the first round. Candidates will be given feedback or a job offer following the second round of interviews.
Types of Interview
Across their network, Strategy& employs two interview formats: experience/fit questions followed by a case interview question and a structured case interview.
Case Interview (Question)
Strategy& case interviews are all based on real-life client examples. Interviewers are encouraged to use their own client engagements for case interview questions because they are familiar with them and can easily provide data and context. This is the most common interview format used by Strategy& because it is the most similar to the job requirements and allows the interviewer to answer the question, “Can this person do the work of a Strategy& consultant?”
During a case interview, they evaluate candidates on a variety of factors, including
- Methodology and structure
- Thinking analytically and creatively
- Data application
- Communication abilities
- Business knowledge
Scoring well in all of these areas will result in advancement to the next stage or, eventually, a job offer.
Experience/fit questions
Prior to beginning the case interview, experience questions are asked, and Strategy& will use questions such as:
- What piques your interest in Strategy&?
- Why do you want to work as a consultant?
- What is your most memorable experience?
- What experience do you wish you could relive, and how would you change it?
- What was the most difficult decision you had to make in the last year?
- What is an example of when you demonstrated initiative and leadership?
- Which aspects of your internship did you dislike the most?
- What do you enjoy doing in your spare time?
- What qualities do you think you’d bring to a case team?
- Describe a role in which you changed the course of a team. How did you manage it?
The key to answering these questions is to create a structure that can be used for all of them. By structuring your response, you demonstrate that you apply a considered approach to your answer even when discussing non-business-related topics.
Case Interview (Structured)
The structured case interview at Strategy& is similar to the written cases provided by BCG and Bain. The candidate is given an information pack of 15-20 pages to read and 10 minutes to answer three high-level questions. During the 10-minute reading period, the interviewer will leave the room.
As with the case interview, there is no correct answer, and the important part of your answer is the consideration of trade-offs for making decisions and comparing the various strategic options available to the business in question. The interviewer will put your ideas and recommendations to the test to see how solid they are and what steps you took to get there.
To perform well in a Strategy& case interview, you must meet the criteria outlined above, which can be accomplished by following a structured approach to case interviews. The following is the structure of a Strategy& case interview:
- Situation and issue
- Validation of hypotheses
- Framework creation
- Root cause investigation
- Calculation in mathematics
- Test of creativity
- Recommendation
Important Tips – How to prepare for a Strategy& Case Interview
Sharpen your mathematical/analytical skills
Case interviews are high-pressure scenarios in which you don’t have the security of notes or the internet to fall back on. One of the questions in in-person interviews will almost always have a quantitative aspect or a market sizing inquiry.
These necessitate lengthy math calculations without the use of a calculator. It’s a good idea to practice long addition, multiplication, division, and subtraction if you haven’t done so recently. Quick math skills demonstrate competent numeric skills while also reducing needless pressure during the interview, resulting in improved overall performance.
Practicing case interviews
Practicing case interviews, like practicing algebra, is the best method to improve your performance. Through practice, you will begin to establish a solid approach that meets the case’s structure and framework requirements, as well as realize how to successfully navigate the case.
If you’re applying to Strategy&, you’re presumably also applying to other strategy consulting companies; this approach will apply to all of them because case interviews are a part of their application process.
Develop a structure to crack cases
The structure is the most important criterion for a candidate in a case interview, especially using a mutually exclusive and collectively exhaustive (MECE) method. As previously said, you can apply structure to the FIT questions, and it is strongly advised that you do so.
To answer the question “take me through your CV,” for example, separate your experience into the following categories:
a) Relevant consulting experience
b) Non-consulting experience, followed by a brief description of each bucket’s experience.
This demonstrates that you understand consulting and what is relevant, as well as a vital consulting talent – organized thinking. You will receive a good score if you can display strong structured thinking during the interview
Some questions recently asked for the following roles:
For the role of Associate
- How many planes land at XX airport? How can we increase the number of planes that land at this airport?
- Estimate the % of transactions that will be spent through CBDCs by 2030
- How would you size the UK’s primary care (GP-General Practitioners) market?
- How do you manage work-life balance?
- How many yellow cabs operate in New York City?
- Will you open a canteen in your university if provided upfront capital?
- How do you set up a shared services center?
For the role of Consultant
- If your life was a book, what would be the title?
- Why do you want to become a consultant?
- If you opened a hot dog stand, how much rent would be demanded from you?
For the role of Manager
- What inspires you to work in consulting?
- How much revenue does Company X make per year?
Positive
- Work across various types of clients and project cases. Exposure to client teams. Great deal of responsibility. Ability to enhance and build analytic and critical thinking skills.
- Good, smart people who are a pleasure to work with
- Interesting projects and strong team
- Lots of great people to work with and interesting projects as well
- Good culture and interesting work
- Really great work environment, good pay
Negative
- Very long hours but not on weekends
- Long working hours during the week
- Increased bureaucracy post PwC acquisition
- Post merger culture and identity issues PwC vs Strategy&
- Poor work-life balance and stress
Conclusion
Strategy& is a global strategy consulting firm that is uniquely positioned to assist you in achieving your best future: one that is built on differentiation from the inside out and tailored specifically to you. Every day, as part of PwC, the firm builds the winning systems that are at the heart of growth. Strategy& combines powerful foresight with tangible know-how, technology, and scale to assist you in developing a better, more transformative strategy from the start. The firm has over 100 years of experience, 3,000 strategy consultants, over 250,000 PwC professionals, 736 offices, and operates in 158 countries.