Given that consulting firms are renowned for gruelling hours, it’s worth looking at the firms with the best work-life balance, if you’re considering working in the industry. In the top-10 of that list is also McKinsey, Strategy&, Bain, Oliver Wyman, The Parthenon Group and The Boston Consulting Group. in the economic and social systems Source: McKinsey & Company (2007). The firm where consultants work the most hours each week on average is EVA Dimensions, according to Wall Street Oasis. level of work and family life balance) which is found in France and Belgium.
To compile the list, Wall Street Oasis gathered responses from thousands of employees at dozens of consulting firms such as Bain & Company. In second place is IBM, followed by Deloitte in third. Learn about working at McKinsey & Company Inc from employee reviews and detailed data on culture, salaries. The firm specialises in strategy, technology, and engineering work. Booz Allen Hamilton best for lifestyleĪccording to a new Consulting Industry Report from Wall Street Oasis, a career website, the firm with the best work-life balance is Booz Allen Hamilton.
#Mckinsey work life balance full#
In addition, they can take up to 600 hours of further vacation time, and are guaranteed their full base salary when they return. “But consulting firms are working very hard to make the job pleasant and predictable, with the ultimate goal of retaining and developing talent,” says Stephane Ponce, global consulting lead at INSEAD, the business school.Īt Point B, a US firm, consultants are offered a month off each year and are still paid for the time. That poses a problem for consulting firms, which collectively hire thousands of MBAs at top business schools each year. When PwC, a consultancy, surveyed the demographic, it found that flexible working hours was the most desired career perk. Work-life balance a key motivation for millennialsĪchieving a better work-life balance is a key career motivation among millennials. Those who truly enjoy spending nights perfecting their case analysis decks or working in breakout rooms over weekend-long simulation courses have high chances of succeeding,” says Karl Krochmal, who spent two years as senior consultant at EY in Canada, after getting his MBA at UBC Sauder. “Let’s face it, the consulting work and lifestyle are not for everybody. Some engagements are longer than others and can be far from the home office. Usually, firms adopt the Monday to Thursday model, which means that consultants will be at the client site most of the week, which could be in another country, and they will come back to the office on Friday.
Work-life balance, or lack thereof, is an enduring criticism of consulting firms, with consultants expected to travel relentlessly. Every year, the high salary, rapid career progression and prestige that come with an elite firm such as McKinsey & Company tempt at least one-third of MBAs at top schools to work in the industry.īut there are downsides.
Management consulting firms have long been a firm favourite with MBAs.
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