Oliver Wyman Reviews | Glassdoor

Oliver Wyman Reviews

Updated January 17, 2019
566 reviews

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4.1
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Oliver Wyman CEO Scott McDonald
Scott McDonald
193 Ratings

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  1. Featured Review

    Helpful (3)

    "Overall a great Company"

    StarStarStarStarStar
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Executive Assistant in Washington, DC
    Current Employee - Executive Assistant in Washington, DC
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Oliver Wyman full-time (More than 3 years)

    Pros

    Oliver Wyman has proven to be a great company with great people with in the company who support you along the way. There are added benefits of working from home, flexible work hours, opportunities for growth.

    Cons

    The pros are mostly limited to the bigger offices - Europe, NYC, Chicago. There are few areas to advance in any of the smaller offices and little understanding of the cities dynamics due to remote management, so things become black and white rather than understanding and grace.

    Advice to Management

    Just like all people cannot be treated the same due to limitations, not all positions should be treated the same due to locations and circumstances of each office or group of people.


  2. Helpful (1)

    "Fantastic place to work with amazing people"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Consultant
    Current Employee - Consultant
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Oliver Wyman full-time (More than a year)

    Pros

    - Firm full of genuinely kind and inquisitive nerds, who also love to have fun. These are my people.
    - Fast progression available to those who excel.
    - Good pay, although room for improvement around the manager level.
    - Amazing office culture. I've made my best friends at this firm.

    Cons

    - Hours can be rough on certain projects.
    - Some managers and partners may be lacking in the EQ department. Don't know if it's a matter of training, selection bias or just anecdotal experience, but just being smart and selling work does not make an effective leader!

    Advice to Management

    Benchmark with competitors if you want to keep high caliber talent. That means salaries, perks, progression, training, etc.

  3. Helpful (3)

    "Consultant"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Consultant in New York, NY
    Current Employee - Consultant in New York, NY
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    I have been working at Oliver Wyman full-time (More than a year)

    Pros

    + Amazing group of talented Consultants, Senior Consultants
    + Strong culture and commitment to I&D
    + Meritocratic promotion system (not political office environment)
    + Overwhelming Financial Services focus of years past has shifted to a more diverse set of industry particularly in Utilities, Transportation, and Retail in the US offering new consultants a broader set of opportunities. (moved from 75% FS to closer to 45% FS, the regulatory projects OW made a killing on in years passed have dried up in light of deregulation in the Trump Era)
    + In spite of low name ID, Consultants who leave after 2-4 years tend to go on to work at elite firms (in Tech/FS/PE), go to prestigious MBA programs, or work for emerging NFPs/Start-ups.

    + Love my peers in CCG (Core Consultant Group, which is the group you are put in during your first 1-2 years out of undergrad)
    Almost everyone is smart, relatively chill/fun to be around, and we're a non-competitive, truly supportive of each other.

    + Culture
    While by no means does OW have some utopian inclusive culture or is it as racially diverse as we'd want to be, we're a firm of respectful (often progressive) people who aren't afraid to have very candid conversations about emerging issues and are always looking for pragmatic ways to improve our office culture and the consultant experience.

    + Your success at the firm is exclusively driven by your performance.
    Promotions are really not political .. instead its based on a tough, rigorous 360 review process - where those who've met clearly defined objectives will be promoted. If you're meeting the targets for your next eligible role - you will be promoted every year. However, the firm leaders often can be pretty tough in how they review people's performance, so simply performing at a mediocre level will stagnate your career at OW. You must learn to succeed at constantly improving your skill-set/performance to do really well at OW.

    Cons

    - We do strategy work similar to MBB, but have relatively low name ID.

    Its annoying to work in a 1:1 role as a MBB analyst, if anything for a more analytically rigorous firm, yet rarely ask someone if they have ever heard of OW and hear "yes." This happens when you're trying to network your way into new opportunities outside of work or even at work, when you start off a interview with a SME and you ask if they've heard of OW - they likely haven't.

    - OW mid-level managers often aren't empowering leaders, they're overwhelmed managers focused on execution not enabling their team.

    Training at the firm is weak at the firm at the manager level. Managers are often really well skilled at understanding the project subject-matter and have significant technical/analytical skills. However, its very inconsistent project-to-project as to whether a Manager will have the project management, interpersonal, and EQ skills to help enable you and the team to succeed (plus stay motivated). Managers are often friendly (its not a personality issue), but typically moved up quite quickly at the firm and OW training isn't comprehensive enough for them to know how to lead a team that thrives (including Work-Life Balance) as opposed to being an expert at delivering what the client needs at all costs possible.

    - Work Life Balance is really hit or miss, particularly with highly fluctuating hours.

    If you get put on a burner project, where your constantly being stretched including late nights and/or weekends (because of various reasons) the firm really doesn't have any good remediation method, even if you flag it - you just get hit with a lot of empathetic talk - but get more/less hit with 'it sucks to suck'. The firm lacks Consultants with the technical skills needed to take on some of the new projects we're selling, so if you're a coder or someone with significant technical skills its very common that they'll basically constantly put you on burners.

    - Firm has a great I&D philosophy, but is still probably 80%++ white males at the Principal and Partner level.

    Advice to Management

    Improve training for managers, so they know how to empower their team - not just get a project across the line at all costs.

    Understand the new class of consultant doesn't believe that being constantly burned by a project with long hours or tough conditions is acceptable - if you don't do more to remediate and proactively avoid project burnout - retention will be much lower than in past too many other tempting opportunities in this job market.

    Make I&D a real priority, spend money on it - including the ERGs.


  4. "Great people and great place to learn, has trouble with burnout and retention"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Associate in San Francisco, CA
    Current Employee - Associate in San Francisco, CA
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Oliver Wyman full-time (More than 3 years)

    Pros

    - Amazing group of people; you're almost guarenteed to make friends and you'll love the vast majority of your team members
    - You learn skills that are transferable to almost any industry, and learn them quickly
    - You can be given a lot of responsibility pretty quickly
    - Promotion and reviews are very transparent
    - Flexible work environment (can work from home, paternity / maternity time, leave of absence, etc)

    Cons

    - Not enough attention is paid to burn out, which is dumb because OW's model relies on retention (we're just learning how to hire experienced hires / MBAs for manager roles, but out of necessity because not enough people are staying on). Yes consulting is high turnover, but there's too much luck of the draw; I've known several good consultants who left far too early after getting repeatedly screwed over in staffing / burning out
    - Benefits don't seem to be as strong as our competitors
    - Could do a better job staying in touch with alumni / supporting people who leave or get MBAs

    Advice to Management

    The lack of attention paid to consultant burn out is really short-sighted; we end up hiring a bunch of experienced hires / MBAs to fill the gap made by the people who leave, but then we don't do a good job integrating them because the heart of our company is still people who have grown up through the system. Partners need to realize that burning out consultants hurts us the long run for this reason.

    If we are going to churn and burn consultants (like McKinsey) then fine, but we should do a better job of supporting them when they leave and staying in touch. Right now people almost always leave with a bitter taste in their mouth after months secretly feeling undervalued and searching for jobs. This also hurts us because people who leave under good terms can turn into clients, or even come back


  5. Helpful (1)

    "Okay for a career start, not so much long-term"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend
    Positive Outlook
    No opinion of CEO

    I have been working at Oliver Wyman full-time

    Pros

    Pretty much next best after MBB
    Friendlier policies (Leave of absence, lounge fee)
    Opportunity for fast progression
    Improved diversity (at least in select offices)

    Cons

    Relatively uninteresting work
    Really low EQ managers, many suffer from implicit biases
    Subpar manager compensation (though that may change in 2019)
    Fast progression leads to long working hours + insecure, overstretched managers
    Training programs not up to mark, budgets for internal costs really low


  6. "Perspective"

    StarStarStarStarStar
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Oliver Wyman full-time

    Pros

    great culture, flat hierarchy, engaging project work, fast progression

    Cons

    bureaucracy, less focused on performance


  7. Helpful (1)

    "Analyst"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in New York, NY
    Former Employee - Anonymous Employee in New York, NY
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Oliver Wyman full-time (Less than a year)

    Pros

    Learned and expended my tool kit

    Cons

    Not really any if you're wanting to learn and grow.

  8. "Great culture"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Oliver Wyman full-time

    Pros

    Incredibly intelligent and genuine people working there

    Cons

    Can be very long hours


  9. Helpful (3)

    "Good experience in administrative position"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Administrative Assistant in San Francisco, CA
    Former Employee - Administrative Assistant in San Francisco, CA
    Recommends
    Approves of CEO

    I worked at Oliver Wyman full-time (More than 3 years)

    Pros

    Great benefits & compensation. Beautiful office. In my position, I had a great trust relationship with my immediate supervisor, so I was never micromanaged. Nice people (difficult personalities tended to not stay too long). Fun perks.

    Cons

    If you work in admin, support or operations for the firm, it can be challenging to feel excited about your work and that you're sharing in the success of the firm with so little context as to what the people you're working with are actually doing for their clients. Work/life balance was a little tough and I definitely worked overtime, but was compensated for it in addition to my regular salary, which was awesome. Like I said, I had a great relationship with my direct supervisors in our office, but felt like I had no clout with the higher-ups that actually made the final decisions on my final compensation, title changes, raises, etc. after taking on a ton of additional responsibilities.


  10. "Great first job after college"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Oliver Wyman full-time

    Pros

    Intelligent, collaborative environment and colleagues. Emphasis on learning and growth. Great managers and emphasis on culture, inclusion & diversity, work life quality.

    Cons

    Limited variety of projects, manager quality and work life quality vary greatly by project.