WHICH CONSULTING FIRMS HAVE THE BEST WORK-LIFE BALANCE?
Happiness is relative. If money talks, working 75+ hours a week may be an acceptable part of the bargain. If the paycheck is less important, aspiring consultants might want to look for firms with better work-life balance.
You might call the metrics in this section the happiness metrics because they focus more on lifestyle questions than on career development.
If you’re looking to join Financo, a boutique investment bank based in New York City, plan to work longer than consultants at any other company. Financo respondent employees reported working an average of 87.5hours per week, 12 hours longer than the next company on the list. On the other side of the coin, employees at Booz Allen Hamilton, an information technology consulting firm based in McLean, Va., were most likely to agree that management gives them time off when needed. Booz Allen employees also believed their company was the best at promoting a balance between work and personal life.
Here’s how firms scored on four of WSO’s lifestyle metrics:
- Hours Worked Per Week (see chart top left): Following Financo, employees at EVA Dimension and Oncology Solutions, LLC, each reported working 75 hours per week. Galt and Company employees reported working 72.5 hours while employees at ABeam, Value Partners Management Consulting, Kaufman Hall and Associations, and Accordion Partners reported working 70 hours per week. McKinsey employees, which scored the company highly in pay and career advancement metrics, reported working 69.3 hours.
- Management Supports Needed Time Off (see chart top right): After Booz Allen, the companies scoring highly on this metric scored highly in the pay and advancement metrics as well. Cornerstone Research came in at 98.8%, followed by Olivery Wyoming (98.1%), Alvarez & Marsal (97.5%) and IBM (96.9%). McKinsey was seventh on the list at 95.7%, Bain was 14th at 91.4%, while BCG was 16th at 91.1%.
- Best Work/Life Balance (see bottom top left): Behind Booz Allen was IBM (98.8%), Protiviti (98.1%), PricewaterCoopers (97.5%), and Alvarez & Marsal. The Big Three are in the middle or lower end of the pack at 92% for Bain, 88.8% for BCG, and 84% for McKinsey.