9 – Mercer Management Consulting
The brand name is not as strong as that of some of the other firms, but Mercer consultants believe the opportunities they get here are unmatched.
"Mercer Management Consulting allows individuals to develop at their own level and encourages them to step up and take on more responsibilities and higher roles," says a 25-year-old consultant who joined the firm three years ago.
Mercer consultants told us that people aren't bound by titles within the firm — ability dictates an individual's trajectory. Successes are rewarded with promotions that are not necessarily tied to how many degrees one has. Mercer tends to promote from within and has a number of programs to develop its people. Despite the soft economy, the firm still pays for business school tuition and provides a stipend for books and other incidentals and a laptop. Upon return to Mercer, consultants who agree to work for the firm for two years after the MBA receive a signing bonus.
The firm has a commitment to offer new hires a broad base of experience before they specialize. Junior consulting staff can formally associate themselves for six months to a year with partners or teams pursuing focused business areas through the Affiliated Staffing Program.
Junior staff members are also encouraged to cultivate their own client relationships by seeking externships with them. Compensation, benefits, and relocation expenses are paid by the host company. Or, they may do a stint as a nonprofit fellow for six months to a year at a nonprofit organization in the U.S. or Canada. Mercer pays them a stipend equal to 40 percent of their salary for the duration of the fellowship.
Even those considering entrepreneurial opportunities get help. A team of Mercer partners is available to review business plans, serve as a sounding board for ideas, and offer suggestions regarding potential sources of capital.
Mercer consultants say that the compensation schemes are good and that the stock purchase plan can significantly contribute to their yearly wealth. The firm does not practice up-or-out: It rewards star performers and has transparent career review processes. Their status as a Marsh & McLennan company allows for a cushion in tough economic times, too.
"While others are laying off, we're prudently managing and even investing in the consulting space," says a 35-year-old principal.
Responses for the survey were submitted by professionals at Mercer Management Consulting and its financial services and risk management division, Mercer Oliver Wyman.
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