2004_ConsultingMagazine_10_Best

CoverStory
Volume Six: Issue Five

November/December 2004

CONSULTING
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The 10

BEST

FIRMS
to Work For, 2004
1. Bain & Company

By Mina Landriscina

2. McKinsey & Company

On the Web

3. Boston Consulting Group

Visit www.consultingmag.com for a list of
the firms that participated in the survey.

4.Booz Allen Hamilton
5. Kurt Salmon Associates
6. Pittiglio Rabin Todd & McGrath
7. Sapient Corporation
8. Milliman USA
9. Mercer Management Consulting
10. DiamondCluster International
Eprint of excerpt posted with permission from Consulting Magazine, © November/December 2004 Kennedy Information, Inc.

CoverStory

It was the best of times.
It was the worst of times.
It was the age of new hires. It was the age of
offshoring. It was the age of work/life balance.
It was the age of a world unbalanced.

Whatever.
Once again, our groundbreaking survey reveals
and measures the inner workings of the
profession’s employers of choice.

Bain wins. Again.
Yes, we’re whispering. It’s an attempt to deflect the consultants we’re bound to hear from with the announcement
that the Boston-based strategy firm has garnered the top slot in our Best Firms ranking for the second consecutive
year.Yes, Bain, with its irrepressible rah-rah culture, a firm that continued to add head count even in the downturn,
tops our list — a development that only helps to certify its secondary credential as the firm most competitors love
to roll their eyes at.
But while most Bainies appear to be challenged when it
comes to hiding their delight for their firm, that enthusiasm
was frequently matched this year by consultants residing within
other firms, making this year’s Best Firms ranking one of the
most competitive to date. For example, those at McKinsey &
Company, Boston Consulting Group, and ZS Associates lauded
their company’s solid training programs. Professionals at Kurt
Salmon Associates, Capgemini, and Hewitt Associates debated
who had the most family-friendly policies. And, Sapient and
Booz Allen Hamilton pros duked it out over which firm has a
bigger commitment to its core values.
We received 4,891 responses from 38 firms to our Web-based
survey, which ran between May and September. Companies were

scored entirely by their employees’ responses in six equally
weighted categories: Career Development, Compensation &
Benefits, Culture, Leadership, On the Job, and Work/Life.
The race was a tight one, with only a 30 percent difference between the highest and lowest scores of the 38 participating firms. Moreover, there was less than a 10 percent
spread among the top five firms. We expect this gap to get
even narrower as the economy continues to improve and
companies start to aggressively hire again. They’ll add competitive perks and benefits to attract and retain talent. So
although we traditionally stop the list at 10, because of the
slim margins it would be unfair not to mention that Clark
Consulting, Hewitt Associates, The Monitor Group, ZS


CoverStory

1. Bain & Company, Boston
Other companies have tried to entice
Tim O’Connor away from Bain, but so far
none has been able to match what Bain has to offer the
38-year-old partner.
“I have fun coming to work,” says O’Connor, who joined the
firm 11 years ago. At first glance, we suspect that the Bainie
— perhaps like so many others? — might have an iPod choking
with 60 GB worth of REM’s “Shiny Happy People.” But when
we take our inquiry a bit deeper, we find that O’Connor’s
thoughts leap well past REM’s familiar refrain and appear to
emphasize the quality of client work opportunities within a
collaborative firm culture.
“I have worked for over 100 clients, ranging from Fortune
500 firms to small companies to private equity shops. I have
always enjoyed the clients I work with, and have been tempted by many offers to leave, but I have remained at Bain — in
large part because of my colleagues here. “Bain people work
hard but do not take themselves too seriously. At Bain, we are
‘great teammates’ and won’t let another fail.”
The Boston-based firm has once again topped each of our
six equally weighted categories used to determine the 10
employers of choice: Career Development, Compensation &
Benefits, Culture, Leadership, On the Job, and Work/Life. Its
consultants are more than happy to tell us why they think that
Bain is the best.
Historically, says Anil Shrivastava, 34, a senior manager
at Bain’s New York office, Bain has been a prime innovator
in its chosen profession, a key attribute for any industry

Associates, and ICF Consulting were nipping at the heels of
the front-runners. (See the Honorable Mentions box.)

Looking at the List
Just as last year, the strategy firms McKinsey, BCG, Booz

Best 10: Leadership
1. Bain & Company
5. Booz Allen Hamilton
10. Milliman USA

leader seeking to attract top talent. Shrivastava’s point has
been underscored by such innovations as Bain Capital, the
firm’s venture capital sister business, and more recently
The Bridgespan Group, a not-for-profit consulting unit.
Moreover, the firm has helped lead the way in private
equity consulting, success fees, and part-time occupations
at all levels.
But beyond all that innovation, he adds, “we have the most
fun of anyone in the industry or even in professional services.”
As Anil speaks, we can’t help but be struck by a faint background sound that once again appears to be REM’s familiar
refrain. Be that as it may, we continue press on.
Pros here say that assignments are challenging, that the
environment is intense, and that displays of work passion
are frequent. The firm offers countless odd development
opportunities, including externships, as well as flexible work
arrangements and part-time options. Consultants work on
two projects at a time, but most travel only two days a week
on average. The low travel level makes work/life more
manageable here than at other strategy firms.
“Results — and not face time — are valued. I am able both
to be successful at Bain and to maintain a good work/life
balance,” says O’Connor, a father of four children under
seven years old. “I am able to coach Little League or soccer,
as well as read Angelina Ballerina or Goodnight Gorilla
most nights.”
And so go the Shiny Happy People at Bain, “where tomorrow shines” and “gold and silver shine.”

Allen Hamilton, Mercer Management Consulting, and Bain,
dominate the list and occupy four of the top five slots.
Whereas the consulting offspring of the former Big Five
dropped off from the list in 2003 and have yet to return, it is
the human resource consultancies that have disappeared this
time around. (Accenture and Capgemini had strong showings

Best 10: Career Development
1. Bain & Company
8. Monitor Group
9. ZS Associates
10. Accenture

Best 10: Work/Life
1. Bain & Company
4. Hewitt & Associates
8. Capgemini
9. Clark Consulting


CoverStory

in the Career Development and Work/Life categories, respectively.) DiamondCluster International is the newcomer to the
list; Sapient returns after a two-year absence. Privately held
firms still outnumber the three publicly held ones,
DiamondCluster, Sapient, and Mercer, which is owned by
Marsh & McLennan.
Among our top 15 firms, the majority of consultants at only
four — Bain, BCG, DiamondCluster, and McKinsey — say
that their firms do practice up-or-out. Booz Allen people were
split on the topic, but this may have to do with the fact that the
firm is split into a commercial arm, which is more of a traditional consultancy, as well as a government practice, which
generally is not.
While it is human nature to look at who rose and fell on the
list, we urge our readers not to make these comparisons unless
they also examine a firm’s individual scores. The natural
assumption is that a drop in rank means that consultants are
less satisfied. But note: This is frequently not the case.

Generally Looking Up
For the third consecutive year, the percentage of consultants
who said that the level of morale at their firm was high or very
high was 53 percent. Very low/low morale levels also did not
waver too much, dropping slightly to 21 percent, from 22 percent last year. Surprisingly, the view is that conditions are
improving. This year, we asked how morale had changed in
the past 12 months. Interestingly, 40 percent reported higher
morale levels, 36 percent said that it was about the same, and
20 percent said that it was lower.
Respondents at Mercer, BCG, and Clark Consulting, an
executive benefits and compensation firm, were among those
who registered the highest levels of company morale, while
those at Sapient, DiamondCluster, and A.T. Kearney were
among those who reported a change for the better during the
past year.
At A.T. Kearney, consultants say that organizational

Best 10: Compensation & Benefits
1. Bain & Company
4. Milliman USA
9. Clark Consulting
10. Towers Perrin

How interesting is your work?
McKinsey & Company
Bain & Company
Sapient Corporation
Clark Consulting
Kurt Salmon
Pittiglio Rabin Todd & McGrath
First Consulting Group
Proudfoot
Mercer Management Consulting
Boston Consulting Group
(Overall average)

95.7%
91.2%
77%
76.7%
74.3%
71.1%
68.1%
67.6%
66.4%
64.6%
55.4%
0% 20%

4.3%
8.8%
13.1% 3.3% 1.6%
2.3%
20.9%
23.8% 1% 1%
17.8% 4.4% 4.4% 2.2%
8.7% 2.9% 1.4%
18.8%
21.6% 5.4% 5.4%
25.6%
6.4% 0.8%
30.3%
2.9% 2.1%
31.2% 6.5% 5.4% 1.5%
40% 60% 80% 100%

stimulating
somewhat stimulating
neutral
somewhat boring
boring

changes from the parent company and a new leadership team,
which is taking them back to their roots, have given them hope
for a better future. “The firm is growing again,” says a New
York–based A.T. Kearney principal. “Restored autonomy from
EDS is benefiting us greatly. We are much more in control of
our business, and it is showing.”
However, some consultants say that changing times are
making the job a bit more stressful. “The consulting profession in general has become more demanding as a result of the
economic downturn, in which many of our smartest colleagues have become clients now,” says a 38-year-old director
at Capgemini. “That, along with the pricing pressure caused
by the offshore consulting companies, is making this
profession a lot more demanding than what it used to be five
years back.”
Employees with low morale complain of ineffective
managers, subjective review processes, lack of ethics, and

Best 10: Culture
1. Bain & Company
8. Milliman USA

Best 10: On the Job
1. Bain & Company
8. Clark Consulting


CoverStory

2. McKinsey & Company,
New York
“McKinsey is all about personal contribution and leadership,” says Eric Roegner, a principal
based in Cleveland, who joined the firm 10 years ago. “It is
not a job where you perform specific tasks and roles and hit
the repeat button!”
Like its competitors, the 78-year-old strategy firm is once
again adding head count. And the morale level within the firm
is at the highest it has been in three years, with 91.3 percent
of respondents pegging it as high.
“It’s a phenomenal place, where you help the leading
executives of the leading companies of the world make difficult
decisions,” enthuses a business analyst who joined the firm
two years ago. “At the end of the day, you will know that you’re
having a real impact on the world.”
A Texas-based consultant, one of the 96 percent who said
that the work is stimulating or somewhat stimulating, adds,
“McKinsey offers the most intellectually challenging, interesting,
and rewarding environment in which to work.”
The firm, renowned for its development programs, begins
training consultants on Day One. All new consultants take a
one-week course, which explains the firm’s methodology and
core values. Development continues by working on small
engagement teams of about four to five people on projects
that last about four months. And geographic mobility among
the firm’s 82 offices is very high. As a result, more than 90
percent of McKinsey respondents reported being satisfied or
very satisfied with the training opportunities offered.
Pros also have an opportunity to work on pro bono engagements within the firm’s nonprofit practice, whose lead adviser
is former U.S. senator Bill Bradley. More than half of McKinsey
consultants choose to participate in nonprofit work during
their careers here, according to firm officials.
Hours are long, but not as bad as at some of the other firms
on the Top 10 list. A little more than 45 percent of McKinsey
respondents work between 50 and 65 hours per week. The
firm’s operational model requires consultants to work at the
client site. Therefore, more than 60 percent travel between
three and five days a week. Most often, however, consultants
work out of their home offices on Fridays.
There is a clear up-or-out policy here, so consultants need
to be open to feedback, which comes continuously, or may
find themselves being asked to leave. Each consultant is
assigned a McKinsey partner, who will provide advice on a
person’s individual development. However, other informal
mentors are also useful in helping to navigate the nuances of
the culture, consultants say.

broken promises.
“You may not be able to work on projects you like even
though this is continually promised during recruiting,” gripes
a 31-year-old technology consultant in Colorado. “I have been
here two years and I have yet to work on a project in my
service line, even though my performance has been rated
excellent or exceptional on every engagement thus far.”
Forget perks, one poor soul groused — just give us the
basics! “The working conditions do not meet health and
safety minimums. The temperature in the office is 94
degrees Fahrenheit with 17 percent relative humidity, and
management has refused to correct this for over eight
months due to costs.”
Leave it to a consultant to actually know the specific
measurements!
It is not a coincidence that coming out of the downturn
most of the companies with the highest morale are privately
held. But, as past experience has shown, when the economy
flourishes, publicly held firms that allow employees to share in
the rewards do very well.
“When you choose public ownership, there is a relentless
pressure for predictable quarterly revenue and earnings
growth,” John Donahoe, Bain’s global managing director,
recently told CM. “The objective advice business does not provide great stability.”
Since Bain is private, it was able to do things for it
employees that publicly held firms would have trouble
carrying out. “We didn’t cut a dollar out of our global
training programs during the past five years,” Donahoe
added. “We didn’t do layoffs. We didn’t cut back on our

On the Job

Where consultants say ...
They’re most satisfied with
the level of management they work with
1. Bain & Company
4. Milliman USA
Their firm maintains the highest
standards of objectivity and independence
1. Bain & Company
2. Milliman USA


CoverStory

commitment to recruiting. We recruited fewer people, but
we recruited every year because we said, ‘You know
what? This is a cycle.’ Our revenues and head count were
higher last year than in 2000, and now we’ll be at all-time
highs again this year.”

Offshoring
One of this year’s big presidential campaign issues — losing
American jobs overseas — did not play a major role in most
respondents’ attitudes about their own job security. For the
first time, we asked whether individuals felt that their current position is at risk due to growing offshoring capabilities. Less than 11 percent said yes or somewhat. Predictably,
those who do IT do say that it is a concern of theirs. “I would
warn anyone wanting a job in technology in general that the
jobs are going overseas and that they should consider any
technology job a temporary job,” says a 43-year-old senior
consultant in Arizona.
Before the offshoring movement, one consultant recalls,
her firm had a strong, risk-taking entrepreneurial spirit.
“People were given opportunities, encouraged to take risks,
and supported if those risks didn’t always pan out. That has
completely changed in the last year,” says the consultant, who
has specialized in SQA for the last eight years and is looking
for another job. “I don’t blame my company. I think that they
are doing what they need to do to survive in the global economy. It just comes down to that I am not as valuable to them as
I used to be. I understand, but the end result is that it is no
longer a good place to work.”

How would you rate employee morale?
Bain & Company
McKinsey & Company
Booz Allen Hamilton
Kurt Salmon Associates
Milliman USA
Clark Consulting
DiamondCluster International
(Overall average)

98%
91.3%
82.4%
81.9%
81.3%
80.5%

8.7%
12.7% 4.9%
15.2% 2.9%
15.6%
9.8%
10.9%
18.3%
17%
20%
25.3%

80.4%
79.2%
78.3%
74.7%
56.6%
0%

20%

40%

60%

very high/high
neutral
very low/low

80%

3.1%
9.8%
8.7%
2.5%
4.6%
5.3%
18.3%
100%

At Sapient, half of the new jobs being created are going
overseas. Jerry Greenberg, the firm’s co-CEO, says that the
offshoring move makes Sapient a stronger company in the end.
“It’s my belief that as the economy improves, which it has
been doing, there will be a shortage of IT professionals in the
United States, as there will be in many other countries,”
Greenberg told CM a couple of months ago. “Rather than
focus on job loss, people will be quite happy that companies
that rely on technology for competitive advantage have ways
to get that technology designed and deployed.”
Sapient employees apparently agree with his line of thinking. Only 15 percent of firm respondents say that they are worried about the longevity of their jobs.

On the Job
Consultants consistently tell us that above anything else, the
biggest factor in choosing to stay at their firm — or in the profession, for that matter — is that they get to work on highimpact assignments that are high on the CEO’s agenda. In fact,
we often hear that although a job in industry may offer a more
competitive salary, the learning curve achieved in consulting is
unsurpassed. Overall, our survey respondents are working on
challenging engagements — 85 percent say that their work is
interesting or somewhat interesting.
McKinsey, Sapient, First Consulting Group, and Proudfoot
Consulting pros are among those who are most excited about
the projects they are staffed on, while respondents at Pittiglio
Rabin Todd & McGrath, KSA, Clark Consulting, and ZS
Associates are among those who feel that that their work has

How has employee morale changed
over the past 12 months?
McKinsey & Company
Sapient Corporation
DiamondCluster
Bain & Company
Monitor Group
A.T. Kearney
(Overall average)

98%
10.9%
15.3%
18.7%
25%
22.9%
25.2%
24.8%
24%
27.5%

84.8%
79.7%
77.3%
75%
71.5%
68.9%
68.6%
67.7%
62.7%
45.3%
0% 20%

40%

35.8%
60% 80%

4.3%
5.1%
4%
5.5%
5.9%
6.7%
8.3%
9.7%
18.9%
100%

higher
about the same
lower


CoverStory
Compensation & Benefits

They’re most satisfied
with signing bonuses
2. Bain & Company
5. ZS Associates

with health benefits
3. Bain & Company
5. Milliman USA

the most positive impact on clients.
“Our work marries unstructured problem-solving with
quantitative analysis,” says a project manager at ZS, which
advises clients on sales and marketing strategy, operations, and
execution. “This combination ensures that we consider all of
our clients’ issues and, wherever possible, create strong quantitative arguments for our recommendations.”
At Clark, meeting client needs is made easy by managers
who have confidence in their employees and who provide the
best infrastructure to help them do their job. “Management
stays out of the way of the consulting process,” says a reward

with salary
1. Bain & Company
2. Milliman USA

strategy principal, who has also worked at two other executive
compensation firms. “This is the most technically effective
firm I have worked in over the past 20 years. Even after 20
years in the business, I am still learning every day. Clients do
actually come first here.”
When serving clients, 90 percent of respondents believe
that their companies very frequently or often maintain the
highest standards of objectivity and independence. Deals
closed by rainmakers at Hewitt Associates, ICF Consulting,
and Navigant have the best chance to be completed on deadline and within budget, or so we’ve been told.

3. Boston Consulting Group, Boston
“Success takes on many forms at Boston
Consulting Group, making the firm a place where
people do not have to change themselves to succeed and
make a difference,” says Aaron Johnson, a 33-year-old
project manager.
The firm has the right mix of qualities, combining those of a
small boutique in terms of sense of community and a nurturing environment with the brand and clientele of a larger firm,
consultants tell us. The culture is described as a partnership
of individuals. Individuals who are not curious, humble, and
driven will not succeed here, though.
“Everyone, even someone just out of undergrad, has the
opportunity for immediate impact,” says a newcomer to the
firm. “Everyone participates in developing strategies and solutions.
There really is a democracy of ideas at BCG.”
Pros here say that they are exposed to difficult client problems
for which there is no “cookie-cutter” solution. But, the pace is
fast and work/life balance can get out of whack unless you
are careful. The firm practices up-or-out and, as a result,
performance reviews can be extremely stressful.
The firm invests in growing and cultivating its consultants
with myriad of training and development programs. The leverage ratio is low, so new consultants get access to vice presidents right away. And there are excellent support systems in

place to ensure that a professional’s time isn’t spent on lessvalue-added activities such as tweaking charts for a presentation. Accordingly, nearly 90 percent of BCG respondents are
satisfied or very satisfied with the firm’s training opportunities.
BCGers say that they work long hours — about 44 percent
work between 50 and 65 hours per week while an additional
20 percent work over 65 hours — but are appropriately compensated. They are among the most satisfied when it comes
to salary, 401(k) plans, health benefits, profit sharing, and
performance and signing bonuses.
Travel is dependent on the type of work and can range
from zero to four days a week, but travel requirements do
vary significantly among BCG offices. Nearly half of BCG
respondents reported that they travel an average of three to
four days a week. But, they are quick to point out that the
firm tries to be as family-friendly as possible within the
client-first mission. Weekends and weeknights are theirs, as
much as possible.
“We get to do great work, have amazing impact, and
learn new things every day,” says a mother of three, who
works 60 percent of the time in order to spend more time
with her three young children. “I feel so lucky to be able
to do all these great things at the client and then also
raise my family.”


CoverStory

Compensation and Benefits
We wish that we could earn some spare change for every time
we read the line, “You can determine your own future here.”
But one firm where this concept takes on extra significance is
Milliman USA. The firm’s model, in which partners own consulting practices that pay fees to and are backed by a central
organization, gives them control over how much money they
earn. As a result, Milliman advisers, along with those at Bain
and McKinsey, were among the most satisfied with their
salary, performance bonuses, and profit sharing.
Major layoffs in the past few years mean that many firms
are revving up their recruiting efforts and doling out hefty
signing bonuses. However, one downside to this is that the
ones who survived the layoffs and are toiling long hours on
undersourced projects are feeling neglected. “They hire in new
talent at higher pay, but aren’t bumping up existing employees
as they should,” says a 26-year-old consultant in Georgia at a
former Big Five firm. “Financially, they should do more to
retain top performers.”

At other companies,
those who have been around
the longest are definitely taking
home larger pieces of the bonus
pie. “Individuals get rewarded on past
performance, not current performance,”
one consultant complains. “Many partners
continue to get their perks, even though most
bill few hours and attract very little, if any, new
business.”
It seems that many firms, including KSA, are
making changes to their reward systems, and some worry that
these changes may affect their close-knit cultures. “This
tweaking can encourage focus on individuals, but leaders need
to ensure that this focus does not discourage the team environment that has so successfully driven better results for our
clients,” says a KSA consultant.
When it comes to health benefits, DiamondCluster leads
the pack. And, it’s no wonder. The company pays 100 percent

4. Booz Allen Hamilton, McLean, VA
Booz Allen Hamilton, which hired close to
3,600 people last year in just the public sector alone,
is still adding consultant head count. And, the good news is
that opportunities now stretch across Booz Allen’s increasingly integrated public and private worlds.
“If you are looking for a place that values out-of-the-box
thinking and creativeness, embraces diversity, and stands
very strongly behind its 10 business and individual core values, then this is the firm you want to join,” says Jean Dolan,
a principal who joined the firm 18 years ago. “Here you will
grow, be appreciated, and have the opportunity to excel at the
pace that works for you and your desired life balance.”
For a couple of years, the firm has been working to integrate
its commercial practice with its government operations,
known as the Worldwide Technology Business, in order to provide better services to both public- and private-sector clients.
This no-walls approach has opened up career opportunities by
allowing consultants to move back and forth between the
practices and enabling them to develop their functional capabilities and add to their client portfolio.
With much of the work coming from the Department of
Defense, consultants here say that the challenges are meaningful and almost always meet clients’ needs. The firm does
practice up-or-out — more so in its commercial practice — but
it has a nurturing environment. The copious amount of feedback helps consultants identify areas of growth and work on
them immediately. The culture, which consultants say is one
of the firm’s strengths, is not intuitive.

“Be patient about learning the culture and how to adapt to
it before making a rash decision to leave,” says a 40-year-old
principal who today is involved in strategy work for a large government client.
Pros give Booz Allen high marks for providing family supports
— the firm has an on-site day care center at its headquarters —
as well as for sabbaticals and personal time off. Consultants
here are particularly satisfied with their salary, performance
bonuses, and 401(k) plans, and more than 78 percent are
pleased with the firm’s alternative work arrangement options.
And, as the firm continued to grow during the economic
slowdown, leadership scored very well.
“The firm is a true meritocracy that lives and delivers
against its defined values both within the organization and at
the client,” says a principal. “It’s a truly great place to work,
with a conservative, perhaps old-fashioned passion for doing
what’s right by clients and employees. The result: double-digit
growth that continuously attracts new talent at all levels and
keeps managers at their peak, and a culture that worries
about your long-term career.”
It’s a collegial, team-building environment where politics are
kept to a minimum. Standards of ethics appear to be upheld,
with more than 98 percent of respondents saying that the firm
always or very frequently maintains objectivity and independence when serving clients. However, hours are long, and
there is little doubt that workaholics need to be careful about
their health in this environment where opportunities are now
reported to abound.


CoverStory

5. Kurt Salmon Associates, Atlanta/New York
After hearing how friends from business
school waited more than six months
before being staffed on a consulting engagement,
Farzan Bharucha did not expect to actively contribute to
client deliverables until the end of his first year. However, by
the end of his third month with Kurt Salmon Associates, the
26-year-old consultant had already been staffed on three
projects, and he finds himself frequently residing on the
front lines when it comes to initial data analysis.
“At KSA, there is no doubt that if you show the aptitude to
cope with the workload, no one is hesitant to give you greater
responsibility,” says Bharucha, who joined the firm last July.
KSA advises consumer products, retail, and healthcare
clients on strategy, process, and technology deployment.
Consultants say that the firm has an entrepreneurial atmosphere and that leadership cares about their personal and
professional growth. Results are recognized and rewarded.
On Bharucha’s first project, for example, one of his managers asked him to develop a white paper on contemporary
inpatient bed models. The manager gave him boundaries for
the content, suggested some sources, and monitored and
encouraged his progress. The finished document has now
been handed to several other clients.

of the medical, dental, and vision coverage for their associates
and their families and/or domestic partners. New
DiamondCluster employees also don’t have to wait a single
day to enroll in their 401(k) plan. Booz Allen Hamilton, which
has consistently scored well in this category over the years,
contributes 10 percent to their employees’ 401(k) plans, even
if the individuals don’t.

Career Development
One way that firms may want to differentiate themselves from
competitors is to consider again beefing up training and
development programs that were trimmed or shifted mostly to
e-learning systems during rough times. For our entire survey
population, 63.5 percent say that they are satisfied or very satisfied with their firm’s T&D programs. This is the lowest the
satisfaction level has been in the four years we have been conducting the Best Firms survey.
In terms of the amount of training they receive, pros at
McKinsey, BCG, ZS Associates, and Accenture get more
hours of training than anyone else. In addition to the strategy
firms, Accenture, ICF, and ZS Associates were places where
consultants said that the training received is top-notch.
“When you do not have an important skill, it is viewed as a
development area rather than as a skill deficit, and efforts to
develop this skill are keenly observed and rewarded,” says

“I love the fact that at KSA it doesn’t really matter how senior
or experienced you are. If you come up with a good idea, everyone is ready to give you credit for it,” Bharucha says.
The formal mentoring program is not as robust as in other
firms, but client teams are small and junior consultants are
developed by having them work closely with their managers.
Consultants work on a minimum of two client engagements
but as many as four, forcing them to be very structured in
managing their time and efforts.
As the economy improves, the firm is enjoying selling more
business. However, one result of this is that managers are
focusing more on client needs than on internal ones. Still,
management has an open-door policy and is willing to listen
to feedback.
“You won’t get in trouble at KSA for making a mistake with
a client, but you will get in trouble for hiding problems and not
asking for help,” says one consultant.
Nearly 70 percent of KSA respondents travel between three
and four days a week and admit that it can be tiring. But, the
firm appears to be advancing efforts to strike a better
work/life balance for its people. Point of fact: KSA was one
of the highest-ranked firms for consultant satisfaction with
flexible work arrangements.

Lauren Moore, a 23-year-old associate consultant at BCG. “Also,
most project managers are very respectful of the time that you
commit to training.”
BCGers have their pick of training opportunities from
which to choose. The “Ambassador” program allows topperforming second- and third-year consultants to transfer to
any of its 50 offices to gain international experience. Mercer’s
ambassador program is even longer: Employees may spend up
to two years outside their home country.
In addition to the time and money that Accenture invests in
developing its talent, the company gives pros leadership
responsibilities that constantly stretch and build their skills
base, Accenture consultants told us. “You will learn more in
one year here than you will in five years somewhere else,”
says a supply chain project manager.
Networking and having a mentor still seem to be the best
ways to navigate new company cultures and get staffed on the
better assignments. Professionals at Monitor, A.T. Kearney,
Bain, and Sapient had the largest numbers of mentors assigned
to them, while those at Proudfoot Consulting, Clark Consulting,
and McKinsey found them to be the most valuable.
“The learning curve at McKinsey is very steep,” says
a 27-year-old energy consultant at McKinsey. “In an upor-out firm, you have to learn quickly, perform under
constant pressure and deadlines, and deliver results
according to the highest standards. It’s important to get


CoverStory

mentors as quickly as possible so that you can accelerate
your development.”

Leadership
There are places where employees say that they will walk over
coals for their managers — or at least take that dull assignment
in the middle of nowhere. At these firms, leaders consistently
match the right people to the right projects and keep employees
informed of firm strategy and direction.
At Booz Allen, consultants say that they feel valued, that
they are involved in decision-making, and that they work
together as a team to deliver results that endure. Consultants at
Sapient, who have consistently given leadership high grades
over the last four years, say that leaders are very involved with
each individual’s growth. Here, they say, feedback is encouraged from everyone.
“Sapient is not one of those companies that are strictly
focused on growing for the sake of growth,” says a 38-year-old
vice president. “People are not bodies here. Everyone has a say
in the future of Sapient and can make an impact.”
Employees at DiamondCluster are still talking about the
pains the firm took to avoid layoffs when times were tough.
“I was furloughed with partial pay and full benefits three
years ago because we could not handle all of our new hires,”
says Stephen Marik Brockman, a project manager who has
been with the firm for four years. “Once attrition and regular
performance review counsel-outs occurred and the economy
returned to normal, I was hired full-time less than a year later.
The firm invested a lot of money in the furlough program to be
good to people, our greatest asset.”

How satisfied are you with your firm’s
training & development opportunities?
Bain & Company
Milliman USA
McKinsey & Company
Booz Allen Hamilton
ZS Associates
ICF Consulting
Accenture
(Overall average)

98%
3.0% 3.0%
8.7%
6.3% 3.7% 0.5%
8.4% 3.5%
6.8% 4.5% 2.3%
14.6% 6.8%
16.4% 3.3% 2%%
15.5% 5.1% 1.7%
13.7% 8.7% 5%

93.9%
91.3%
89.5%
88.1%
86.4%
78.6%
78.3%
77.7%
72.7%
63.6%
0% 20%

40%

17.2% 13.1% 6.2%
60% 80% 100%

very satisfied/satisfied
neutral
unsatisfied
very unsatisfied

Then there are places where the complete opposite is true.
“Watch your back,” warns a 47-year-old consultant in
Florida. “Leadership looks for whom to blame when things go
wrong only because they lack good IT management skills to
get the job done or they lack the skills to communicate how the
job should be done.”
Another confides: “There is a zero-bench policy, which
they don’t tell you about when they hire you on. As soon as
you are off of an account, you are laid off within a day. They
will transfer you to another office and not even tell you until
after the fact.”
Lesson for the job hunter: Ask lots of questions!

Leadership

Companies match the
right people to the right projects
1. Bain & Company

The firm’s organizational structure
has a positive impact on consultants’
ability to complete their work
1. Bain & Company
4. Milliman USA

The firm does everything possible
before reducing head count
2. Bain & Company


CoverStory
How often do you feel that your
firm is meeting your client’s needs?
Bain & Company
Clark Consulting
Booz Allen Hamilton
McKinsey & Company
Sapient Corporation
Hewitt Associates
ICF Consulting
(Overall average)

34.3%

60%

27.5%
37.9%
26.7%
21.7%
26.7%
34.8%
27.1%
23%
28.8%
18.6%
0% 20%

62.5%
47.9%
61.9%
69.6%
60%
43.5%
55.8%
61.5%
47.7%
54%
40% 60%

5.7%
10%
9.3% 3.6% 1.4%
10.5% 1%
8.7%
11.7% 1%
15.2% 6.5%
13.1% 3.5% 0.5%
12.7% 2.8%
20.6% 2.5% 0.5%
21.4% 5.4% 0.5%
80% 100%

always
very frequently
sometimes
rarely
never

Hello, Air por t
Some firms — and especially the former Big Five ones, which
were big proponents of the 3-4-5 schedule (four days at the
client site, fifth day at the home office) — are finding that as

How often do you find it
easy to deliver on commitments?
DiamondCluster
ZS Associates
Booz Allen Hamilton
McKinsey & Company
Bain & Company
Sapient Corporation
(Overall average)

69.6%
54.7%
52.1%
50.7%
47.8%
47.2%
48.5%
49.5%
44.1%
44.9%
35.5%
0% 20%

26.1%

4.3%
6.7%

2.7% 0.7%
44.5%
46.5%
2.8%
52.2%
52.8%
2.2%
49.3%
3.8%
46.7%
1.7%
54.2%
51.7%
3.4%
8.6%
55%
40% 60% 80% 100%

always
very frequently
sometimes
rarely
never

clients are becoming more demanding, they are having a harder time offering this benefit to their employees. For those who
traveled to start with, it’s becoming more common to be away
from home five days a week.

6. Pittiglio Rabin Todd & McGrath, Waltham, MA, & Mountain View, CA
According to PRTM consultants, the firm’s
culture is centered on the idea that each consultant be given the career building blocks that would allow him or
her to someday become a director.
“The company honestly strives to create an environment
where you can build a long-term career, not one where you’re
going to burn out after a few years,” says Kevin Schwartz, a
34-year-old principal. Just what career building blocks a consultant chooses to deploy may depend on the professional
and personal challenges a given consultant may face,
explains Schwartz. “To this end, the firm prioritizes things
like getting local projects when you have important family
commitments or needs.”
The 28-year-old firm focuses largely on operations and
process-related work predominantly for technology companies.
The clients are interesting and the assignments are challenging,
we are told. “I have learned more in the last four years than I
did in the first 15 years of my career,” says a Texas-based consultant, Jim Alderer, 39.
The organization is flat, providing access to directors both
on client projects and as mentors and coaches throughout
consultants’ careers. Firm officials tout the rapid path to partnership, which is typically a six- to eight year journey.
Client travel varies by project, and there is the potential for a
four- or five-day-per-week travel schedule for months at a time
and demanding workloads of 50 hours or more. However, on

the average, consultants travel less than half the time.
Consultants frequently told us that a family-like atmosphere
nourishes PRTM. Surprisingly, the pinch of the economic downturn had little or no effect on PRTM’s family-like approach.
Coworkers are down-to-earth, and managers here care about
their consultants’ well-being, even exhorting one to “go to bed
earlier.” Beyond good-natured ribbing, the firm has a “family
first” policy. Leadership tries to assign to professionals who
have been on the road for several months a project closer to
home. It tries to cushion the heavy travel schedule with “Sunny
Days,” which are two Fridays a month that road warriors can
take off to take care of personal business.
Although the firm is very team-oriented, individuals who
perform well will be rewarded and promoted appropriately.
Consultants by and large report that performance evaluations
are “extremely fair” and compensation is “outstanding.”
However, the firm is fiscally conservative. This means that in
addition to their client responsibilities, consultants take on
administrative duties such as practice area development and
knowledge management activities. Still, many PRTMers say
that they would not trade places with anyone else.
“The people at our firm are the most high-quality people
I’ve ever had the opportunity to work with,” says Robin
Daverman, a consultant who joined the firm a year ago.
“Every time I send out an e-mail asking for help, my mailbox
is flooded with responses.”


CoverStory

7. Sapient Corporation,
Cambridge, MA
“Even if you regard yourself as a seasoned
cynic, you too are likely to ‘drink the Kool-Aid’ and become
Work/Life

Where consultants
are most satisfied with ...
Offerings of convenience
1. Bain & Company
3. Hewitt Associates
4. Milliman USA
Programs for personal health,
well-being, and comfort
1. Bain & Company
2. ICF Consulting
4. Clark Consulting
Sabbaticals/personal time/sick leave
1. Bain & Company
Vacations
2. Bain & Company

“Most of consulting is moving to a more travel-heavy
model, and the travel gets worse as you move up the ladder,”
observes a BCG associate consultant. “So if you can’t stand
the travel, you should seriously reconsider.”
Accordingly, the survey data shows that consultants are
traveling more than they did last year. About 32 percent
traveled more than four days a week, including 3 percent

a passionate believer in this place,” says Jane Owens, a 51year-old senior vice president and general counsel who
joined Sapient four years ago. “Somehow, it enters your
bloodstream”
Consultants at the 13-year-old firm, which claims that it pioneered the fixed-price, fixed-time pricing model, say that they
focus on delivering value rather than running up hours. “We
insist on creating value for our clients and are really tied
together with our culture to deliver what makes sense,” says a
supply chain specialist.
Leadership, from the co-CEOs, who keep employees
informed of the company’s direction, down to the managers,
who are involved in consultants’ career development on projects, received high marks. Consultants tell us that feedback
is encouraged and actually welcomed here. Candor and edge
are as expected as creative thinking on tough problems,
although the openness can come across as harsh to newcomers. Pros here strongly believe that the firm emphasizes a
culture of inclusion.
Sapient people report that projects are intellectually
challenging, coworkers are passionate about their work,
and the growth opportunities are good. Politics are kept to
a minimum, and bureaucracy is low. At the same time, new
recruits should be prepared to roll up their sleeves.
Translation: There isn’t a lot of “overhead,” and everyone
pitches in where needed.
However, an almost-no-travel policy has become nearly a fourday-a-week travel policy for some people. Still, as a group, they
don’t travel as much as most of their Top 10 counterparts; only
39 percent travel between three and five days per week.
Sapient has a flexible work environment and is creative
even with its perks. New consultants get three weeks of vacation by the end of their first year. There’s a “Small Necessities
Family Leave” policy in which employees may take up to 24
hours of paid leave a year to meet certain family obligations
such as attend their child’s school play or take elderly relatives to medical appointments. The firm also reimburses $500
to employees, once every three years, for the purchase of
computer equipment for their home. And, employees have
access to over 300 cars in the Zipcar network in Boston;
Washington, DC; and New York for a $25 annual membership.
They can drive cars by the hour or the day for only $8 to $13.
Gas, maintenance, insurance, and parking are included.


CoverStory

How valuable is your mentor?
Proudfoot
Clark Consulting
McKinsey & Company
Bain & Company
Milliman USA
Watson Wyatt
Sapient Corporation
Booz Allen Hamilton
Hewitt Associates
Kema

77.8%

22.2%

72.2%
66.7%
66.7%
47.1%
50.8%
50.9%
54.1%
47.5%
45%
0% 20%

27.8%
33.3%
33.3%
52.9%
44.1%
5.1%
5.5%
43.6%
3.3% 2.5% 0.8%
39.3%
48.3%
3.4% 0.8%
5%
50%
40% 60% 80% 100%

very valuable
valuable
neutral
marginally valuable
not valuable

who traveled six or seven days a week on average, as
opposed to the 27 percent who traveled between four and
seven days last year.
“Traveling might seem glamorous, but when you wake up
for the Nth time on a Monday morning at 5 a.m. or earlier,
you might find yourself asking, ‘Why on Earth did I choose
consulting?’” says a 29-year-old Booz Allener, who adds that
her coworkers make it bearable. “When you spend as much
time working and away from home as we do, people make all
the difference.”
There are benefits to travel, counters a senior consultant at
Capgemini. “Look for engagements that meet your career
goals,” says the 28-year-old, who is based in Texas. “However,
if work exists in the place you want to be and meets your
career goals, consider that a bonus.”
His comments reflect an overall positive attitude about travel
at the firm, where hitting the road is viewed as an opportunity to
see the world. More than 40 percent of Capgemini pros travel
five days a week, and more than 13 percent travel six or seven.

Wo r k / L i f e
With clients’ needs always coming first, work/life balance is
somewhat of a trick in consulting.
“Life balance is a continuous challenge,” says Randi
Nolan, a partner at KSA who has three children between the
ages of nine and two. “I don’t know if I have achieved it, as
I feel like it is more like a pendulum. Certain weeks, I feel
like I am too focused on work and am not spending enough
time with my family, while others, I feel like I am ignoring
work and am too focused on family activities.”

At KSA, work/life balance is a team issue. At the start of
each engagement, project leaders meet with the consultants to
develop a “Life Balance” agreement that specifies project objectives and strategies to be used to achieve work/life balance.
But much of the prioritizing needs to be done on the individual level. Nolan, who works a four-day schedule and travels about two days a week, says that she has embraced KSA’s
“client first” attitude, but with limits.
“I always consider the client’s interest first, above those
interests of KSA or personal gain, but not at the sacrifice of my
family’s needs,” she says. “There were a few occasions early
on when I made sacrifices — missed a school concert or a parent-teacher conference. I always regretted it. I just don’t do
that anymore. I schedule those important moments into my
calendar and treat them like an unmovable client meeting —
and just schedule around them.”
Tim O’Connor, a 38-year-old partner in Bain’s Boston
office, says that he has learned that he actually has more control over his schedule than he originally thought.
“In a client service business, we move mountains to meet
deadlines and never sacrifice on quality. Over time, however,
you realize that not all deadlines are immutable. When a client
throws out Thursday afternoon — the day of the first Little
League game — as the timing for an update, sometimes it
does not matter to them if you meet Thursday afternoon or
Friday morning.”
Consultancies have made things easier by offering
programs to prevent burnout. ICF has a very flexible compensatory time policy. Someone may leave work early for
his child’s soccer game and make up the time later. Some
consultants work 30-hour weeks, while some parents with
young children work 9 to 5 and get back on the computer at
night. Anyone who is stressed out can also get a massage.
“Staff tend to come here and stay for a long time,” reports
a senior vice president, who joined 14 years ago but had originally intended to stay for only three. “There is a real sense that
we want to keep the best here, and the way to do that is to

Career Development

They received the most hours of training
3. ZS Associates
4. Accenture


CoverStory

8. Milliman USA, Seattle, WA
Working at Milliman is “kind of like playing blackjack,” says Craig Burma, a 35-year-old principal in the
firm’s Dallas office. “Every time you step up to the table, the dealer (Milliman) will deal you opportunity. You have to be the one to
walk away to keep the rest of your life in balance.”
Milliman has an atypical consulting model similar to franchising, in which partner-owned consulting practices pay fees to a central
organization. However, unlike with franchising, the firm’s entrepreneurial model is dependent on strong collaboration among its four
part-owned practices: life insurance, property and casualty insurance, employee benefits, and healthcare. Principals share in what
their specific profit centers make or lose each year. The company is a member of Milliman Global.
“Milliman is designed to compensate the people who execute on strategy and stretch to develop new products and the revenue
stream that flow from them,” Burma says.
Employees say that their work is interesting and has impact. And, that it is also easier to have good work/life balance here. Since
practices are responsible for certain regions, travel is low, too — 81 percent travel one day or less per week. The firm’s decentralized
structure means that it is sometimes difficult to pool resources. But on an office level, consultants say that they are able to get their
work done effectively. Creativity is encouraged and good ideas are rewarded, we are told.
Take Lee Straate as an example. About 13 years ago, Straate had an idea for developing a software system called MARC that could
be used by clients to increase the understanding and appreciation of their retirement benefits.
“I was encouraged to move it forward,” says the 55-year-old principal who is based in Wisconsin. “Today, the fifth version of the
system is under development and MARC is used directly by clients in one-half of our firms’ pension practices as well as for Milliman’s
pension outsourcing efforts. I doubt if there’s another firm where I would have had such an opportunity.”
However, Milliman does not have an up-or-out culture and definitely has room for those who prefer to take it a little easier or put
more emphasis on family. Burma says that he just made principal after five years with the firm — along with another consultant who
had been with the firm for 25 and had only recently decided that he wanted to take the next step.

How satisfied are you with your
company’s flexible work arrangements?
Bain & Company
ICF Consulting
Milliman Associates
Monitor Group
ABT Associates
Hewitt Associates
Towers Perrin
Watson Wyatt
(Overall average)

97.1%

2.9%

94.3%
88.1%
87.5%
85.9%
84.4%
83.3%
82.8%
81%
79%
70.4%
0% 20%

2.9%
6.8%
6.3%
8.1%
13.3%
12.5%
10.4%
11%
11.2%
40%

60%

15.1%
80%

2.9%
5.1%
6.3%
6.1%
2.2%
4.2%
6.8%
8%
9.8%

14.5%
100%

very satisfied/satisfied
neutral
unsatisfied/very unsatisfied

make sure that people have sustainable lifestyles.”
Mercer has a highly valued option to work a 10- or 11-month
year and sponsors consultants to work at nonprofits for three or
six months. Hewitt employees always tout the free meals and
other conveniences such as dry cleaning and childcare on school
holidays. The firm gives each associate up to two paid days a
year to do community work in human services or in education.
But overall, our respondents are a bit unhappier with
their firm’s flexible work arrangements, which include parttime, flex-time, and job-sharing options. A little more than
70 percent say that they are very satisfied or satisfied with
their firm’s flexible work arrangements, as opposed to the
73 percent that were satisfied in 2003. Three HR firms,
Hewitt, Towers Perrin, and Watson Wyatt, practice what
they preach and are among those where consultants are
most satisfied with alternative work arrangements.

Wo m e n i n C o n s u l t i n g
While we often hear that consulting firms do a good job at
recruiting an equal number of men and women, an often-heard
complaint is that there are few female role models at the very top.
Women at one former Big Five firm say that they can


CoverStory

9. Mercer Management Consulting,
New York
“Working at Mercer is like being paid to go
to business school but learn more than any formal education program could ever teach you,” says Nathalie Corredor,
a 24-year-old consultant in California. “I work hard, but every
day I do something different, so I am constantly learning.”
One of the biggest benefits of working at Mercer is that the
firm has the environment of a smaller, more collegial company and yet the resources of its parent, Marsh & McLennan.
“The firm is small enough that everyone contributes to the culture and that we all feel a part of the same team,” says a 25year-old consultant in Massachusetts.
Pros say that the Mercer brand may not be as well known
as the other strategy firms’, but that even this brand deficit is
getting smaller. They say they feel fortunate that an up-or-out
culture does not exist here. “The advancement speed is much
more flexible than at other firms,” says a 31-year-old project
manager in New York who joined the firm two years ago. “You
can move up more quickly or more slowly.”
It is possible to make it to the associate level and beyond
without going to get an MBA, and the metrics and incentives
encourage development of all staff. The review and promotion
process occurs every six months rather than annually, so there
is more room for advancement, we are told. Compensation is
competitive, and pros have heaps of praise for a number of
the firm’s developmental programs, including externships and
nonprofit fellowships.
“Our focus on strategy and on operations allows us to create the solution, and then to make it work for our clients,” says
a principal. “Many other firms are in one camp or the other,
but for us being in both is very rewarding.”
Mercer is increasingly moving toward being a practicespecialized firm and away from general strategy work, a move
that has supporters as well as detractors. But respondents say
that they work for top-tier clients, often advising the C-suite,
and that they have a strong alumni network. They boast too
that they have some unique offerings — including a boutique
in-house investment bank for engaging private equity, venture
capital, and other transaction advisory services. Travel is
increasing, but being able to work a 10- or 11-month year is
also a big benefit.
Coworkers are described as energetic and enthusiastic, and
also humble and dedicated. “You can do interesting work at
many firms,” says Andrew Watterson, a director based in Texas.
“The difference in your happiness comes from the people
around you. On that measure, you can’t do better than Mercer.”
Responses for the survey were submitted by Mercer
Management Consulting and its financial services and risk
management division, Mercer Oliver Wyman.

succeed at the lower levels, but it gets harder to do so at the
higher ones. A 26-year-old female IT consultant says, “The
boys still go out at night and hang out together during the day.
You’ll be at a disadvantage because you’ll be lacking the
social time with your team members that others are getting. It’s
not personal, but it’s very competitive, so watch your back.”
Even one male senior consultant in Illinois threw in his
observation: “My female coworkers are very disappointed in
the limited number and involvement of women at the top. Very
few female partners exist, and those who are here ‘eat their
young’ rather than nurture them.”
With only 32 percent of our responses coming from
women, we don’t know how widespread this feeling is. But,
we are told that there are some firms where women thrive.
Consultants at Bain, Abt Associates, KSA, and McKinsey say
that there is no glass ceiling for women at their firm.
Like many firms, Bain has good mentorship programs and
lets women use office space for networking circles. However,
says Phyllis Yale, a partner who worked part-time for 10 of the
22 years she has been with the firm, part of the reason women

Culture

People of minority groups and protected classes
have equal opportunities for career advancement
1. Bain & Company
There is no glass ceiling for women
1. Bain & Company
2. Abt Associates
5. Milliman USA
My firm makes accommodations
for people with disabilities
1. Bain & Company


CoverStory

10. DiamondCluster International, Chicago
“We are a small, scrappy firm that demands a lot from our people,” says a 37-year-old partner who lives
in San Francisco. “We work hard at all levels and enjoy ourselves along the way.”
Around here, people say that they feel valued, and offer a number of examples to prove it: Development opportunities are
plentiful, nonpartners share in equity rewards, and benefits are actually employee-friendly. For example, all consultants get four
weeks of vacation and have medical benefits for themselves and their families or domestic partners that are paid in full. Pros
are allowed to live anywhere they like.
“We say that we are a premier management consulting firm, and in order to prove that, we have to have the best people,”
says Ed Brady, the firm’s chief people officer. “While we feel strongly that Chicago is a great city, we wanted to ensure that we
could source the best talent across the country.”
DiamondCluster, only 10 years old, is the youngest company on the Best Firms list. The firm’s “live anywhere” policy has been
around since its origins as Diamond Technology Partners. The firm merged with Cluster Consulting four years ago. The policy has a
practical purpose as well, says Brady: “We tend to do most of our work at our clients, so our need for physical space is a bit less than
that of larger firms.”
Consultants say that they get to work on intellectually challenging assignments and are given lots of opportunities to take on additional responsibility and grow. There is a rapid, 6- to 8-year path to partnership. The firm has a low leverage model — currently one
partner to six consultants — but the target model is one to seven, Brady says.
“This place is what you make of it,” says a principal who previously worked at Accenture. “There is not a defined growth path that
you are led carefully along as with the Big Four. You have to make your own way, find your own training, and make your own network.”
Diamond pros say they have great clients, personable coworkers, a flexible workplace, and great respect for their leadership, which
turned to layoffs only as a last resort when times were tough and even led to CEO Mel Bergstein going without salary for six months.
But Diamond employees, who receive a significant component of their compensation in restricted stock units and stock appreciation rights, reported the most improved morale during the past year and expect even more good news ahead: DiamondCluster has
told Wall Street that it’s looking to grow 25 percent a year.

are so successful at Bain has to do with the firm’s operational
model. Consultants at Bain work on two projects at a time and
typically work a three-day schedule.
“It’s administratively simple for someone to work on one
project at a time and to be as devoted to that project as anybody else would,” says Yale. “We have a viable part-time

option for client-facing roles. We have an opportunity for our
women not to be on a mommy-track but to be first-class citizens working with clients on a part-time schedule.”
And part of the reason for the success is that all of these
options are available and used by men as well. C
— Jack Sweeney contributed to this story

Honorable Mentions
• Clark Consulting advises clients on compensation, benefits, and finance solutions. It bills itself as the largest publicly traded
company of its kind. The hours are long, but the firm balances this out with appropriate amounts of personal leave and vacation time.

• Hewitt Associates consultants say that they have a multitude of flexible work arrangement options and career growth opportunities. It’s a flat organization with no titles, where there is a respect for the individual. Openness and teamwork are highly valued
here, and performance evaluations and rewards are very fair.
• Monitor Group employees say that there is no up-or-out policy here, enabling all to grow at their own pace. It’s not uncommon
for accomplished undergraduates to become team leaders. The company is accommodating to alternative work arrangements and
encourages consultants to propose solutions that will help them manage work/life balance.
• ZS Associates is a small sales and marketing consulting firm. It has a “casual, but intense” culture in which consultants are
generally younger and work more than 60 hours — but do so in jeans. There is a steep learning curve but many training opportunities, and travel is rare.
• ICF Consulting employees say that they have a think-tank approach to consulting. They say that their work has a broader
impact on the public and environment due to the type of energy and environmental advice they provide. Benefits include massages,
nursing rooms for returning mothers, and flexible work arrangements.
Eprint of excerpt posted with permission from Consulting Magazine November/December © 2004 Kennedy Information Inc.
Peterborough, NH 03458 USA Tel: 800-531-0007 or 603-924-1006 Fax: 603-924-4460
Email: editor@kennedyinfo.com Web: www.Consultingmag.com, Expires: 12/22/05.

2004_ConsultingMagazine_10_Best

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