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WORK CULTURE AT
 MANAGEMENT
CONSULTING FIRM
    Is it as alluring as it seems




                               DEEPAK SHARMA
MANAGEMENT CONSULTING?

• I know they sound a bit sophisticated and so do they are!
• Called as the “Savior” by firms caught up in a turmoil &
    require strategic advice over getting out of it
•   They attract the best of the management lot from
    Harvard, MIT, Stanford or IIMs.
• But, is giving advice a tough task & requires payment of
    really heft pay-cheques?
WORK CULTURE’S
        IMPACT on EMPLOYEES




Level of CAREER FULFILLMENT @Management Consulting Firm
      determines the length of stay of consultant at the firm
       But this is not of much concern for some Big Shots!
WORK CULTURE’S IMPACT on its GOALS

• Culture at firm determines its Goals & Vision
• Way Management foresees business 10 years from now
 determines the working environment of the firm and
 hence, the Goals it sets for the future.
• Main focus of this Presentation: Cultures at -
    o Bain & Company
    o McKinsey & Company
COMPARISON TELLS US WHAT ONE EXPECTS


             “THE FIRM”- McKinsey & Co.


• Founded at 1923, McK is world renowned & the Most
    Prestigious Management Consulting Firm
• Main aspect that “The Firm” boasts on is its
    “PROFESSIONALISM”
•   Known for its “UP or OUT” Policy
Sword hanging over their “CORPORATE HEAD”
             2
U            YEARS
             MISCONCEIVED
                  o
                      r                OUT
P             McK’s Main FOCUS
            Selective Job Enrichment
           Organizational Commitment
“TEAM OF LEADERS”

• Meritocratic Hierarchical System
• Frequent Feedbacks right from entering as a “Junior Associate” so that
  one never remains what he/she was when first entered into the firm
• Each “Engagement” provides completely new & a respectful
  environment
• Regarding the “Out” Group, one of the Alumnus Mr. Victor Cheng says
  “The secret is that many in the "out" group eventually become
                        clients of the firm.”
“Winning Culture”- BAIN & COMPANY


• One of youngest star in the Management World (Founded in
 1973)
• Known as the “Best Consulting firm to work in.” from last 4
 years in a row (SOURCE: Forbes)
• Primary Asset: Result-Oriented Work Culture
“ONE FIRM,ONE TEAM”


    Bain’s MAIN FOCUS



     Job Satisfaction
      Psychological
      Empowerment
MAIN FOCUS focused
• Doesn’t focus much on being International; focuses more on
 valuing the individual-choices of employees.
• Unlike McK, it has a Open Culture where Employees are
 given time to schedule important events themselves with
 clients which instills sense of responsibility in them
• Each associate has a freedom to reach out to the Top-
 Executives Clients; unlike the hierarchical passage one has
 to pass in McK. This enriches the job that each Consultant is
 doing & makes him/her more committed to the Organization.
Growth of not Growth’s Sake


• According to Bain & Company; they call themselves to be a
 part of Winning Culture because they carry the following key
 elements:
     oHigh Performance Values and Behaviors
     oUnique Personality & Soul
• Valued Profitability over Rapid Expansion
• But, to make itself a Result Oriented Company; they call
 their Modes Operandi as “More of Doing than Talking”!
Describing “WINNING CULTURE”

                      High
                   Aspirations
                   & a Desire
                     to win

     Passion &                   External
      Energy                      Focus

                    WHO WE
                   ARE/WHAT
                   WE VALUE

                                 Thinking
     Individuals
                                   like
     who Team
                                 Owners

                     Bias to
                     Action
SECOND LAST SLIDE


                       REFERENCES
• The McKinsey Mind
• http://chasingconsultantsbreakingbankers.blogspot.in/2010/01/mckinse
  y-bain-and-bcg-cultures.html
• http://blogs.reuters.com/felix-salmon/2011/03/09/mckinseys-corrupted-
  culture/
• http://www.tomspencer.com.au/2008/04/14/bain-and-company-top-
  consulting-firms/
• Building a Winning Culture –By Paul Rogers, Paul Meehan and Scott
  Tanner [BAIN & COMPANY]
THATS IT

Work Culture of a Management Consulting Firm though have
a tremendous impact on Job Attitudes. But, never forget that
making a WORK-LIFE Balance is what one should aspire for.
                        To gain that
          “Join BAIN & not McK” –Deepak Sharma


           THANK YOU VERY MUCH

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Work Culture at Management Consulting Firms

  • 1. WORK CULTURE AT MANAGEMENT CONSULTING FIRM Is it as alluring as it seems DEEPAK SHARMA
  • 2. MANAGEMENT CONSULTING? • I know they sound a bit sophisticated and so do they are! • Called as the “Savior” by firms caught up in a turmoil & require strategic advice over getting out of it • They attract the best of the management lot from Harvard, MIT, Stanford or IIMs. • But, is giving advice a tough task & requires payment of really heft pay-cheques?
  • 3. WORK CULTURE’S IMPACT on EMPLOYEES Level of CAREER FULFILLMENT @Management Consulting Firm determines the length of stay of consultant at the firm But this is not of much concern for some Big Shots!
  • 4. WORK CULTURE’S IMPACT on its GOALS • Culture at firm determines its Goals & Vision • Way Management foresees business 10 years from now determines the working environment of the firm and hence, the Goals it sets for the future. • Main focus of this Presentation: Cultures at - o Bain & Company o McKinsey & Company
  • 5. COMPARISON TELLS US WHAT ONE EXPECTS “THE FIRM”- McKinsey & Co. • Founded at 1923, McK is world renowned & the Most Prestigious Management Consulting Firm • Main aspect that “The Firm” boasts on is its “PROFESSIONALISM” • Known for its “UP or OUT” Policy
  • 6. Sword hanging over their “CORPORATE HEAD” 2 U YEARS MISCONCEIVED o r OUT P McK’s Main FOCUS Selective Job Enrichment Organizational Commitment
  • 7. “TEAM OF LEADERS” • Meritocratic Hierarchical System • Frequent Feedbacks right from entering as a “Junior Associate” so that one never remains what he/she was when first entered into the firm • Each “Engagement” provides completely new & a respectful environment • Regarding the “Out” Group, one of the Alumnus Mr. Victor Cheng says “The secret is that many in the "out" group eventually become clients of the firm.”
  • 8. “Winning Culture”- BAIN & COMPANY • One of youngest star in the Management World (Founded in 1973) • Known as the “Best Consulting firm to work in.” from last 4 years in a row (SOURCE: Forbes) • Primary Asset: Result-Oriented Work Culture
  • 9. “ONE FIRM,ONE TEAM” Bain’s MAIN FOCUS Job Satisfaction Psychological Empowerment
  • 10. MAIN FOCUS focused • Doesn’t focus much on being International; focuses more on valuing the individual-choices of employees. • Unlike McK, it has a Open Culture where Employees are given time to schedule important events themselves with clients which instills sense of responsibility in them • Each associate has a freedom to reach out to the Top- Executives Clients; unlike the hierarchical passage one has to pass in McK. This enriches the job that each Consultant is doing & makes him/her more committed to the Organization.
  • 11. Growth of not Growth’s Sake • According to Bain & Company; they call themselves to be a part of Winning Culture because they carry the following key elements: oHigh Performance Values and Behaviors oUnique Personality & Soul • Valued Profitability over Rapid Expansion • But, to make itself a Result Oriented Company; they call their Modes Operandi as “More of Doing than Talking”!
  • 12. Describing “WINNING CULTURE” High Aspirations & a Desire to win Passion & External Energy Focus WHO WE ARE/WHAT WE VALUE Thinking Individuals like who Team Owners Bias to Action
  • 13. SECOND LAST SLIDE REFERENCES • The McKinsey Mind • http://chasingconsultantsbreakingbankers.blogspot.in/2010/01/mckinse y-bain-and-bcg-cultures.html • http://blogs.reuters.com/felix-salmon/2011/03/09/mckinseys-corrupted- culture/ • http://www.tomspencer.com.au/2008/04/14/bain-and-company-top- consulting-firms/ • Building a Winning Culture –By Paul Rogers, Paul Meehan and Scott Tanner [BAIN & COMPANY]
  • 14. THATS IT Work Culture of a Management Consulting Firm though have a tremendous impact on Job Attitudes. But, never forget that making a WORK-LIFE Balance is what one should aspire for. To gain that “Join BAIN & not McK” –Deepak Sharma THANK YOU VERY MUCH