Finding the Most Rewarding Benefits Packages in the Consulting Industry

Employees want more than a paycheck from their employers. They’re seeking a holistic job experience that takes into account their overall well-being—inside and outside of work. If you’re looking for the best places to work as a consultant, you’ll have to evaluate salary offers—but to get the full picture, you’ll also need to consider other forms of compensation, including benefits packages.

So what benefits do workers prioritize? In a Harvard Business Review survey, 2,000 American workers were asked which benefits they would give heavy consideration or some consideration. According to survey results, job seekers assign the greatest value to health, dental, and vision insurance, with 54% giving those benefits heavy consideration and 34% giving some consideration. Rounding off the top five benefits were flexible hours, more vacation time, work-from-home options, and unlimited vacation.

If you’re looking for similar perks at your next place of employment, here are five consulting firms that Ivy Exec members reviewed as having the most rewarding benefits packages.

5 Consulting Firms With the Highest-Rated Benefits Packages

Delta Partners Group

Focused on the telecoms, media, and tech (TMT) industry, the Delta Partners Group management consulting firm supports their clients with a variety of specialty services. They offer strategy consulting services for TMT C-level execs with a strong focus on analytics, digital services, infrastructure and tech, enterprise and sports, media and entertainment. The firm also offers investments banking services.

Even with six offices on four different continents, employees say Delta Partners has a family atmosphere, where people feel personally acknowledged for their work. One current employee left the following review: “Work-life balance is not a lip-service term here. It’s real. We integrate and become part of the fabric of our local community and work to make it a better place to live. Strong culture of collaboration and thought leadership. Very inclusive. Definitely a great place to work!”

In the 2019 consulting firm rankings, Ivy Exec members rated Delta Partners a 4.8 out of 5 for their employee benefits. One unique benefit at Delta Partners is the ability to reduce your work hours per week on a structured schedule, if you decide to cut back. They also provide an extended parental leave option for new mothers and fathers. On average, staff reported receiving close to five weeks of paid vacation time. Telecommuting and flexible scheduling were also rated above average at 4.2 scores.

Keystone Strategy

Based in Boston, Massachusetts, Keystone Strategy focuses on economics, antitrust, intellectual property, and product development. The firm believes in pulling expertise from academia and pairing it with practical industry experience—and their approach works. They serve high-profile clients, including Nike and LinkedIn.

A senior consultant submitted this anonymous review of the organization: “There’s a sign at the front door of our office that says “Work Hard and Be Kind to People,” and Keystone so perfectly embodies that ethos. The folks here are hardworking and kind, some of the most supportive and caring teams I’ve ever worked with. There is a large emphasis on personal growth and development goals here, and I constantly feel like I’m learning more not only about technology and strategy but also how to grow as a person.”

Employees at every level agree that the company culture is warm and the work is engaging and innovative. Based on the reviews, most of the staff are also happy with the healthcare benefits, 401(k) matching, and flexible vacation and holiday scheduling. On average, employees receive close to three weeks of paid vacation time. With a benefits score of 4.3 out of 5, the top-rated benefits at Keystone Strategy are parental leave, telecommuting, and flex time.

Marakon

Marakon is a boutique consulting firm with offices in New York, Houston, Chicago, Boston, and London. They focus on advising executives and business leaders in several sectors, including financial, energy, health and wellness, and industrial products and services. Marakon’s advisory services cover strategic portfolio management, event-driven advisory, value capture, innovation, and pre-emptive activism.

Employees enjoy the collaborative culture and opportunities to work with smart, driven, and curious people. Of the 100+ employee reviews published online, many remark on Marakon’s flat organization and supportive environment. An associate consultant writes, “Everyone in the office is willing to drop what they’re doing and help at a moment’s notice. There is also a very open and accepting culture. For example, it is very common to see partners eating lunch with the first year associates in the cafeteria, or hanging out in the bullpen discussing current events.”

Marakon provides an average of four weeks of paid vacation, and Ivy Exec members rated the firm 4.4 out of 5 for their benefits package. About 76% of employees reviewed the parental leave time as a 4 or 5, which averages out to a 3.8 overall for the category. Staff assigned the same value to the telecommuting benefits, and a 3.9 to flexible scheduling. One reviewer highlighted the option to limit travel to only three days per week and work from home during the remaining two workdays.

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Applied Value Group

Using lean growth principles, Applied Value Group helps their clients drive profitable growth through its core principles of focus, simplicity, and speed. Applied Value has their headquarters in New York City with offices in Stockholm and Shanghai. For management consulting, Applied Value focuses on four disciplines: go-to-market strategy, gross margin improvement, OPEX efficiency, and capital efficiency.

Employee reviews reflect an open organization, collaborative culture, and personable, fun-loving colleagues. On average, employees at Applied Value receive over four weeks of vacation. Ivy Exec members rated the benefits package a 4.3 out of 5; telecommuting received the highest rating with a 4.0. About 78% of reviewers assigned a 4 or 5 to the parental leave category, and flexible scheduling was the next highest-rated benefit. Out of 104 employee reviews, 74 were perfect 5 ratings; 28 respondents assigned 4s.

One employee review reads: “Applied Value did an amazing job of creating a culture where you want to come into the office. People genuinely liked each other, and it was reflected in the overall quality of the work produced. There was always a high level of respect and collaboration among colleagues, and often there wasn’t someone looking over your shoulder to make sure your work was getting done. You were assumed to be responsible, and that feeling of accountability was really important.”

In terms of compensation and benefits, the reviews are also promising. Reviewers point to platinum-level medical, dental, and vision plans, plus a generous 401(k) and pension.

The Cambridge Group

The Cambridge Group is based in Chicago and has operated for over four decades as a boutique consulting firm with a sterling reputation. Specializing in the consumer goods, financial, media, and retail sectors, The Cambridge Group concentrates on creating growth and profitability for their clients while centering their approach around the customer. Their motto is “each of us and all of us,” and employees enjoy a culture that embraces teamwork and collaboration.

The Cambridge Group offers an unlimited vacation plan every year. In anonymous reviews, employees rated the parental leave benefits a 4.2 out of 5, and assigned 4.0 scores to both the telecommuting and flex time categories. Overall, 94% of employees say The Cambridge Group is a great place to work.

One analyst offers more insight into working with the agency: “Great flexibility, good work-life balance, great leadership opportunities, flat organizational structure. Great opportunities to pursue passions outside of work—like allowing a shortly tenured analyst to take classes on the side and paying for them.”

Unlike conventional consulting firms, The Cambridge Group also limits how much time their employees spend traveling between locations. By providing greater flexibility, they foster a happier work/life balance and more opportunities for on-site training and development.

Choosing a Target Employer

You can earn a handsome paycheck as a consultant, but the work goes beyond financial payouts. These five consulting firms demonstrate you can be paid well and enjoy other types of meaningful professional rewards. If you’re applying to jobs, it helps to start by identifying a baseline for industry standards, like paid time off and the rising telecommuting trend. The Ivy Exec 2019 Consulting Firm Rankings highlight the best companies to work for in the US and abroad, and every business profile includes specific information about the benefits, compensation, and employee reviews.

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