Boston Consulting Group
Headquarters: Boston
Locations: 59
Kiran Rao's description of his past six months at Boston Consulting Group reveals the uniqueness of his chosen profession.
"I have worked with a financial services company to improve product profitability, with a leading international foundation to accelerate vaccine development for a neglected disease, and now with a pharmaceutical company to understand the implications of changes to the medical environment," says the 28-year-old consultant, who holds a medical degree as well as an MBA.
Rao and his colleagues say that they are offered unmatched growth opportunities to work on the toughest client problems. They toil alongside talented but genuinely down-to-earth people who frequently become friends for life. Here the best idea always wins, no matter the rank of the person who generated it. However, with the average around here being top-notch, it can sometimes be tough to stand out.
"BCG is a very analytical, intellectually honest, and practical place," says a vice president who has been with the firm 18 years. "The most successful people at BCG have a strong analytical background and are intellectually curious as well as practically minded and good at developing interpersonal relationships. If you are not solid on these dimensions, a job here can be very difficult."
While the firm practices up-or-out, managers will give consultants who are tracking poorly time to make adjustments and get on track. Pros say that the culture of collegiality and support at BCG ensures that consultants will have access to the right people at the right time to support their development.
The bar is set purposely high so that pros can grow and expand. "Everyone here is always stretching and developing themselves, rather than learning how to comply with a 'BCG way,'" says Carrie Perzanowski, who joined the firm a year ago. "There is a lot of flexibility to find a way to make the firm work for you."
Colleague Megan Findley, 32, says that the firm has always treated her well.
"It offered training when I was in over my head, offered support when I was sick, and offered a part-time flexible schedule when I had my baby," says the manager, who joined the firm five years ago. Following the birth of her son nine months ago, Findley went part-time; she now works 60 percent of the hours she worked as a full-timer, putting in about 40 hours a week. She is still client-facing and active in the consumer and retail practice. Given that she is based in the New York area, this hasn't been a problem.
Consultants are advised to manage their work/life balance proactively. With a myriad of options, it is very tempting to overcommit. Project leaders and managers take the work/life balance mandate seriously, as they are reprimanded if their consultants book over a specified number of hours per week for four straight weeks.
The work environment is flexible and focused on results — not face time — making the hectic lifestyle much easier to handle, consultants say. The firm attempts to mitigate the potential downsides of their chosen profession through a three-day travel policy and opportunities for flexible work arrangements. One mother of three, who joined the firm eight years ago, confides that she has been working part-time in client service for the last five years. "I am so thankful for being able to do amazing client work, while also being able to actively mother my children."
There are variations between offices and regions, so new comers should make sure that they are comfortable with the office where they choose to work. Since BCG does most of its recruiting from B-school campuses, experienced hires have a harder time adapting into the culture.
BCGers say that they are handsomely compensated. Total compensation, when considering profit-sharing, bonus, and the free healthcare for families, is near the top of the industry. And, there are huge jumps as you move up the BCG ladder. A junior partner with seven to 10 years at the firm can potentially take home a seven-figure salary, says a consultant based in Texas. The profit-sharing is a nearly unmatched benefit, at 15 percent of base plus bonus.
Says Associate Consultant Lucas Flynn, "This is the only place where you get to solve the most difficult problems, speak freely of your most crazy solutions, and be rewarded for that.
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