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The number six doesn't bother us Grant Thornton International, Grant Thornton LLP's umbrella organization, counts 550 offices in 90 countries, and more than 20,000 employees. The firm's U.S. branch, Grant Thornton LLP, claims approximately 300 partners in 55 offices. While such numbers render GT one of the world's largest professional services firms, the firm remains outside the circle of mega-firms comprising the "Big Five" (PricewaterhouseCoopers, Arthur Andersen, Ernst & Young, KMPG, and Deloitte & Touche). However,like competitor BDO Seidman, GT doesn't let its smaller size bother it. It regards its clients, mostly mid-sized companies, as "entrepreneurial, fast-moving, and growth-oriented," and as part of its strength. The company says it aims to "help the owners and senior management of mid-sized entrepreneurial companies achieve their business and financial goals." In the spring of 1999, Grant Thornton LLP developed an operating model that allowed GT to evolve from a traditional public accounting firm to a wealth creation, enhancement, and preservation professional services firm. The firm is now structured around two units: Business Advisory Services, which includes Professional Services, Corporate Finance and Risk Management, Tax Consulting, and Enterprise Solutions; and Financial Advisory Services, which encompasses the Family Business Consulting, Personal Financial Planning, Legal Services, and Life, Property, and Casualty Insurance departments. In addition, GT is the accountant of record for more than 300 publicly-traded clients. Hopping on the MC bandwagon Like most international professional services companies, Grant Thornton LLP has focused on expanding its consulting practice. The consulting group has seen its share of the business grow from 15 percent in 1993 to 27 percent in January 1998. Chuck Scoville, director of enterprise solutions, expected continued growth for the next few years. To reach that goal, GT certainly had one item working in its favor: cheap rates. The firm offered its services at usually around 20 percent less than its larger competitors. For example, GT won a contest to snag a deal with Times Mirror. The company's director of financial services, Joanne Kootsikas, told Accounting Today: "We didn't want overhead, so we asked them not to have a project manager." Smith's in, Smith's out As the millennium approaches, Grant Thornton has played the game of switch the leader. In 1997, the firm ended an eight-month search for a CEO, appointing Adrian Smith. The move surprised the industry, as Smith's background lay not in accounting, but rather in marketing. Smith had honed his skills at Procter & Gamble, and as a partner at Arthur Andersen had engineered the marketing push that established the firm as the industry leader. At GT, Smith focused on restructuring compensation to include performance goals, and on a new dress code known as a "dress-appropriate" policy. Smith once said: "These are people with MBAs from the finest schools - why should we have dress codes and tell them how to dress?" While these ideas met with success, Smith ran into problems when he challenged GT's traditional role as a middle-market firm. Further, some partners were displeased with his approach. As a result, Smith left the firm at the end of 1998. Then-acting CEO Norman Hedgecock told Accounting Today: "There was a confidence factor - several partners did not have the confidence in Adrian to lead us there." Domenick J. Esposito took over the CEO spot in February 1999. One of Esposito's main goals was to increase revenues from overseas operations from 10 percent in 1999 to 25 percent within three or four years, and to increase overall revenues 19 percent in 1999 to $400 million. Partnerships and alliances galore Since Smith's departure, Grant Thornton LLP has continued its policy of alliance and partnership to strengthen its position in the information technology consulting market. In October 1998, the company signed a partnership agreement with Gentia Software. The following year, Grant Thornton LLP teamed with another software company, Bluestone Software, Inc., to distribute Bluestone's Web-based computing solutions as part of its consulting services. GT also tried to strengthen its position in Canada by signing a partnership agreement with Agresso Corporation, a Canadian provider of "business information management solutions." In June 1999, the company announced plans to expand its alliance agreement with J.D. Edwards & Company, an enterprise software provider. The firm's questionable behavior concerning a proposed mid-2000 merger between mining groups Petra Diamonds and Oryx, however, could lead to a lawsuit against GT.
Grant Thornton LLP's web site has a fairly helpful career page, with job listings. Those not going through on-campus career centers should send resumes and cover letters directly to their GT regional office of choice. Cover letters should include career objectives and salary history. As noted, Grant Thornton LLP continues to expand, and insiders indicate that the company actively seeks out qualified individuals. Interviews generally break down into three rounds conducted by managers and partners.
The pros of the middle market Grant Thornton LLP may hold the No. 6 position in the accounting industry, but as one source explains, "That's not really saying too much because the gap between the smallest Big Five firm and us is huge." Yet the middle market has its advantages. Compared to larger firms, insiders report, GT's regional offices have more autonomy, and the atmosphere in general is "much more laid-back." "[We] don't have that stuffed-shirt mentality." Furthermore, working with medium-sized businesses, "you are rarely, if ever, stuck on one project." Another adds, "our clients are not too large (where its difficult to see the whole picture) and not too small. You also have the advantage of drawing on nationwide expertise if you need it." One consultant comments on the breadth of experience at GT: "We are on a different project every three or four months. I have seen the resumes of people who have been doing this for three or four years and can honestly say they are qualified for upper-level management jobs at major corporations." Stellar training GT insiders rave about training. One contact says: "I would recommend to anyone coming out of school to consider [GT] mainly because of the training." The same contact specifies that "the company has also started mentoring programs and is very supportive of personal professional development." Another techie contact elaborates: "If you want to be a Java programmer, they are often willing to send you to classes and have you develop the Web practice." Perky compensation Pay is described as slightly above average for entry-level employees at the big firms. "Grant Thornton LLP starts salaries for individuals at a level which is competitive with other opportunities in the job market," says one, adding: "What one quickly discovers is that salary represents only one form of compensation." Perks include matching 401(k) programs, laptop computers and Palm Pilots, club room membership at airline lounges, and many, many frequent flyer miles. Travelophobes beware The biggest complaint from GT insiders is travel. "Being on the road 100 percent of the time is not uncommon." In keeping with its fairly generous perk outlook, one insider tell us that "they don't send you off to the Super 8," and others report an ample per diem. However, another warns: "I can't stress enough that the travel is emotionally difficult," and adds: "I have found that it takes a tremendous effort to maintain relationships - romantic or platonic - while on a project." To keep its employees from desperation, GT has devised a system whereby employees working with clients can choose to be flown anywhere (or have someone flown in) for the weekend as long as the cost does not exceed a flight home. "We travel, for the most part, five days per week, every week of the month," one employee notes. "The bottom line is that you live out of a suitcase," says another contact," who also observes a "high burnout rate" for consultants Diversity: gender problems in some units Most GT insiders feel their firm makes efforts to promote diversity, and one tells us that being a member of a minority group "would not affect your career in any way." However, another warns: "I honestly would not want to be a woman in my practice... My group is very much male-dominated, and several of these men have serious problems taking women seriously. We've lost a few women recently because of this." The same contact qualifies by observing that the firm's New York office has "several female managers."
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Arthur Andersen;Deloitte & Touche;Ernst & Young;KPMG;PricewaterhouseCoopers;McGladry & Pullen More Company Profiles For more career information, go to Vault.com ©2000, Vault.com Inc
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