This the Advisory Services' M&A advisory team you're talking about? I thought they only branded as the PwC strategy group for graduate recruiting these days, but perhaps not. Confusing, no?Primary work is on M&A analyses, research & number-crunching, and making pretty presentations afterwards. They have done a lot of joint work with my lot in the PFI/PPP advisory team and been sending people out to pitch for work with p/e groups lately (haven't seen much come of it yet, but could be the next big thing - if you have experience there they'll like it I think). Consultants tend to be ACA's, a few ACCA/CIMA as well, but mostly coming internally from the vast PwC reservoirs. Culture is fairly uniform with rest of PwC so pretty conservative, strait-laced, accounting-first approach (don't mean that negatively - I'm a PwC ACA myself). Ergo, progression to Manager is on the same framework as rest of the firm to enable swapping in and out - good, clear framework and explicit timescales - make Manager in 5 yrs if all goes well.