Tier 2 consulting firms are successful, global consulting companies that fall outside the “MBB” firms (McKinsey, BCG, Bain) or “Big 4” firms (Deloitte, PwC, KPMG, and EY), but are still highly reputable and respected.
PwC 4. Tier 1 is exceptional, Tier 2 is exceeds expectations, Tier 3 is meets expectations, Tier 4 is below expectations, Tier 5 is severe underperformance. Tier 4 and 5 call for a Performance Improvement Plan. Please read the Performance Management Policy available on the Portal (under People Policies).
The most prestigious firms are McKinsey, Bain, and BCG. Next most prestigious are "Tier 2" firms such as Kearney, Accenture, and LEK. This tier also includes the strategy consulting arms of the Big 4 firms, including Deloitte Monitor, EY Parthenon, and PwC's Strategy&.
PwC is widely considered to be the world's most prestigious and progressive accounting firm. It offers extensive career development opportunities, including formal coaching and mentoring, informal mentoring, excellent trainings, and clear promotion paths. It's also heavily focused on CSR initiatives and improving DE&I.
PwC and EY are at a similar level of prestige. Both PwC and EY offer strategy and operations consulting services, with the firms using acquisitions to bolster their strategy offerings. Specifically, PwC acquired Booz & Company (now “Strategy&”) and EY acquired Parthenon Group (“EY-Parthenon”).
This article highlights tier 2 consulting firms like Deloitte, Strategy&, and Accenture, which are prestigious but rank just below McKinsey, Bain, and BCG (MBB) in terms of reputation.
Deloitte and PwC are described as more competitive.
3. Tier 3: The Big 4. Deloitte, KPMG, PwC, and E&Y are the Big 4 accounting firms, but they also have large consulting divisions. The Big 4 firms are known for their broad range of services and their deep industry expertise.
Tier 2 consulting firms include Deloitte, Strategy& (PwC), LEK, Oliver Wyman, EY-Parthenon, Accenture, Kearney, and Roland Berger. While these firms have strong brand recognition and prestige, their reputation is a step below the top three management consulting firms of McKinsey, Bain, and BCG.
PwC/Strategy& consulting Manager salary 2023 (Manager-level)
Annual compensation for a PwC consulting manager ranges from $148,000 to $227,000, and around 25% of their salary is from bonuses and other pays.
PwC advises a significant number of the Fortune 500 and generates roughly $50B in annual revenue. As standard with most of the top firms, hours tend to be long for consultants at PwC. Promotions don't happen as quickly at the firm compared to others, but PwC is a great place to start a career.
Tier 2. Tier 2 companies are the suppliers are usually limited in what they produce but remain an essential part of the supply chain. These companies are generally smaller and have less production and workforce resources than Tier 1 companies.
Oliver Wyman employees rated their Recommend to a friend 9% higher than PwC employees rated theirs. Oliver Wyman employees rated their Positive Business Outlook 6% higher than PwC employees rated theirs.
PwC is an absolute behemoth - prestigious, mystical, and totally confusing to the outside observer. The firm has a 160+ year legacy, and a brand that is cobbled together from so many pasts that it's hard to tell which way the firm is headed.
PwC, for example, was mentioned in a Times article last year as having an acceptance rate of around 2.5% in 2022, presumably in the UK. That was based on 304,000 applications to 7,400 open positions, more or less on par with what a big investment bank receives.
Service Offerings. While all of the Big Four firms offer auditing, tax, consulting, and advisory services, they each have slightly different strengths and specializations: PwC is known for auditing and financial advisory services. Deloitte has significant consulting and technology implementation capabilities.
Tier 2 supports refers to the practices and systems that enable targeted interventions for students who are not successful with Tier 1 supports alone. The focus at Tier 2 is supporting students who are at risk for developing more serious unwanted behaviors before they start.
For their LinkedIn profiles, McKinsey consultants are advised to use the titles "Consultant," "Senior Consultant," or "Manager" instead of specific internal grades.
What is the salary of TC-2 at Deloitte? TC-2 salary at Deloitte in India ranges between ₹6.0 Lakhs to ₹13.2 Lakhs for experience between 2 years to 3 years. According to our estimates it is 82% more than the average TC-2 Salary in India.
The average PwC salary ranges from approximately £26,967 per year for Administrator to £92,818 per year for Senior Manager. Average PwC hourly pay ranges from approximately £9.80 per hour for Disability Support Worker to £13.88 per hour for Intern.
Grow and develop through five levels. You can expect a clearly structured career path and rapid career progression. Typically, you'll spend 2-3 years at each level (Associate, Senior Associate, Manager and Director)* as you progress towards Partner.