The 'Big Three' consulting firms - Bain, BCG and McKinsey - are in the middle or bottom of the pack when it comes to work-life balance, with 92%, 88% and 84% respectively. However, according to a new report on the consulting industry published by Wall Street Oasis, a career website, the company with the best work-life balance is Booz Allen Hamilton. This firm specializes in strategy, technology and engineering projects and is followed by IBM in second place and Deloitte in third. Geoff Smart's doctoral thesis in psychology found that private equity firms that chose their teams wisely made more money.
With extensive experience in human behavior, he and his first colleagues dedicated themselves to advising private companies.
Back Bay Life Science Advisors
provides life sciences and investment banking strategies to pharmaceutical, biotechnology, medical technology and health technology companies around the world. This firm works with investors, banks, academic institutions and governments to move forward.Bain & Company
is a global consulting firm that helps the world's most ambitious change-makers define the future. In 64 cities across 39 countries, the firm works together with customers as one team with a shared ambition to achieve extraordinary things.Point B is a Seattle-based consulting firm with 560 employees in eight cities that offers its consultants the opportunity to take the whole summer off and pays for at least one month of that time. First-time parents, including parents and adoptive parents, can take up to four months off without pay but with health insurance benefits and premiums covered. At Point B, if an employee works more than 60 hours a week, a manager will step in and suggest bringing in another consultant for the account. This is an unusual practice in the consulting sector where 80-hour work weeks are common. Last year, Point B began offering a paid sabbatical month to employees who have been there for at least a decade. Seb is a journalist and consultant editor who has developed a successful career writing about business, education and technology for the international press.
To compile their list of best work-life balance consulting firms, Vault collected surveys from more than 9,000 consultants from 65 North American firms.
Insigniam
is trying to break with the traditional consulting model by using its own business model which is based on three principles: advise, train or do it for you. This poses a problem for consulting firms which hire thousands of Business Administration graduates from top business schools every year. Although it is best known for its work in the energy sector, Insigniam also has 26% of corporate shared services across all areas. Since consulting firms are known for their exhausting work schedules, it's worth looking into firms with the best work-life balance if you're considering working in this industry. Typically companies adopt a Monday through Thursday model which means consultants will be at the client's office most of the week which could be in another country and return to their office on Friday. Those who enjoy spending their nights perfecting their case analysis models or working in small group rooms during weekend simulation courses have a good chance of succeeding according to Karl Krochmal who spent two years as a senior consultant at EY in Canada after earning his MBA at UBC Sauder. Every year high salaries rapid professional progress and prestige associated with elite firms like McKinsey & Company tempt at least a third of MBAs from top schools into this industry.The top 10 on this list also includes Strategy& Bain Oliver Wyman The Parthenon Group and The Boston Consulting Group.
