Management consulting is a big draw for MBA graduates, with its high salaries, opportunity to work on diverse projects and the prestige associated with top firms in the sector. But which are the best consulting firms to work for?
The careers website Vault has released its annual Vault Consulting 50 for the year 2018, a signature list of the best consulting firms.
This year’s rankings saw McKinsey move up to the number 1 spot from the previous year’s 3rd rank. The Boston Consulting Group and Bain maintained its 2nd rank while Bain & Company, top ranked in 2017, was relegated to the 3rd place.
The Bridgespan Group managed to climb to the 6th rank from 9th place in 2017. Putnam Associates in the 7th spot also moved up from 11th rank in the previous year.
The survey is based on almost 9,000 survey responses from verified, practicing consultants at more than 60 firms in North America.
The survey takes into account several factors including the firm’s reputation as well as employees’ satisfaction with key factors influencing their work life, such as culture, compensation and promotion policies.
McKinsey says it encourages a culture of flexibility and offer programs that support career success. Take Time gives consultants the option to take an extra 5 to 10 weeks off between projects. The firm also offers extensive leave benefits for mothers, fathers, and adoptive parents.
It also claims to have a “collaborative, supportive culture” and a 30,000+ member alumni network that enables employees to make valuable connections and share experiences for the rest of their career.
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In the case of BCG, employees speak of “Flexibility and amazing client work,” and professional development. On the downside, they point to uncertain working hours, intensity and difficulty in managing travel and work-life balance.
Bain says its business is helping make companies more valuable. Using a fact-based, analytic approach, the firm deals with more than 2,700 clients and over 200 investments around the world.
In the fourth spot is Deloitte Consulting LLP followed by Oliver Wyman, both retaining the same rankings as in the previous year.
Deloitte is part of a global network of the member firms of Deloitte Touche Tohmatsu Limited that have a combined workforce of more than 200,000 people working in over 150 countries.
With over 4,000 professionals based in more than 50 offices in 26 countries, Oliver Wyman, with its entrepreneurial nature, provides exceptional opportunities for the employees to shape not only their future but that of the clients and the company itself.
The Bridgespan Group managed to climb to the 6th rank from 9th place in 2017. Putnam Associates in the 7th spot also moved up from 11th rank in the previous year.
For the Bridgespan Group, the employees have rated it as offering “challenging and rewarding work at the centre of the social sector.”
Putnam Associates are involved in providing strategic advice to pharmaceutical and biotechnology leaders. Its exclusive focus and long-term client relationships provide opportunities for employees to acquire extensive knowledge of the industry.
However, the best performance was by Parthenon-EY that moved up to 8th rank from 21 last year. L.E.K. Consulting dropped one spot to the 9th place while the Brattle Group maintained its 10th rank.
Parthenon-EY, according to employee feedback, offers good pace of learning and work, growth opportunities. L.E.K. Consulting is rated by employees for its culture, the pace of learning and work and growth opportunities.
Brattle Group is rated by its employees for its culture, commitment to high-quality work and its people.(Image Source:pixabay.com)
