Are you searching your place under the sun? Welcome to our rating of the best management consulting companies worldwide. If you dream about catching a big fish, you can choose among the best vacancies for your brilliant future.
Each year, the website vault.com publishes the ranking of the philadelphia IT consulting firms, better known as the Vault Consulting 50. The consultants are asked to evaluate their own and competing firms on the parameters such as prestige, culture, as well as the balance between work and personal life. From year to year the place can be distributed in different ways, but in the top of the list everything is relatively stable.
In addition to the quantitative indicators, there are some common things that distinguish the elite company of the rest of the mass. Smaller companies can take them on a note to increase their credibility and expand clientele.
Note: After the publication in 2014 the rating, the company Booz & Company was acquired by PWC and is now doing business under the name of Strategy &.
In this article, we present the things that make the companies mentioned above the outstanding employers to work for.
Recruitment and talent
Elite company attracts top-notch candidates to the staff. For example, the graduates of top MBA programs are considered the best candidates for these jobs. Some prestigious consulting companies, in fact, are taken almost exclusively by professionals of the top 25 MBA programs of the World.
However, not all workers come from the business area: the best consulting companies hire university graduates and people with a scientific degree from other areas, including psychology, engineering and law. It is obvious that the involvement of the best professionals allows these firms to remain at the highest level and brilliantly execute their projects.
Top consulting companies take much charge for their services, and thus can assign their employees higher wages. Solid top-level firms can afford to pay workers a little less than the others: they know that the prestige of the work for employees is greater than the amount of salary. Less prestigious firms are trying to pay their consultants more than the elite companies, so as to attract talented staff to him.
Most consultants in such companies receive additional bonuses, including the expansion of health services package, career counseling and further education. Such permanent bonuses underscore how the company values its employees in the framework of business projects and beyond.
Training and development
Consulting firms realize that the consultants are the most important resource. In the process of interviewing, new employees are identified with their strengths and weaknesses, but companies do not want to stop there and arrange serious training to consultants to develop the talents and skills.
The most prestigious companies aren’t limited to the cooperation with clients. In addition to customers’ projects, they carry out research on various topics. The impressive volume and excellent in quality, these studies are designed to not only raise the level of competence of the readers, but also to expand its customer base.
In some firms, intellectual leadership takes a central place. Consultants provide targeted research group – for example, «McKinsey’s Global Institute» or «McKinsey Quarterly».
In many companies, to get a promotion, consultants should contribute to the intellectual capital of the firm at the highest level of management processes. This creates an environment where constant is introduced and updated information in large consulting firms.
Top management consulting companies have earned the confidence and prestige, and therefore have the advantage in the selection of “their” customers. Elite companies are valued so high that they have the right to refuse to work with clients who are unprofitable, non-core, or not conducive to the development of the brand. Many of these companies have loyal customers, with whom they interact for many years.