There are few surprises at the top of our consulting rankings for Asia-Pacific this year, with McKinsey holding onto its top spot both on the overall ranking, and in prestige. As with last year, Bain & Co. finished in second place overall in the region. The results demonstrate the solid performance of the top players in the global industry across all regions, particularly with respect to working conditions. Indeed, both McKinsey and Bain are notable for their commitment to ensuring that culture and standards are consistent across offices, regardless of their location.
While the headlines for the rankings may be consistent, those seeking a position with a firm outside of the Big Three in the strategy field would be well served to spend some time checking out firms a little further down the rankings. As their scores in the individual Best to Work For categories indicate, each of the firms on the listhas its own strengths as an employer. Whether you're looking for the opportunity to work in a specific industry or local market, or seeking the firm that will give you the best opportunities to move on after a couple of years, the rankings are a good starting point for your search.
What follows is an extract from the press release announcing the rankings earlier today.
McKinsey's domination of the Vault Asia Pacific Consulting Rankings was based on an overwhelmingly strong performance in the Best to Work For rankings, where it took the top spot in 14 of 22 quality of life categories and 3 of 5 diversity rankings. McKinsey also remained unstoppable in the Practice Area Rankings, taking the No. 1 spot in six separate categories, making it an overwhelming favorite amongst job seekers in the consulting industry.
The rankings are based on the results of Vault's annual Consulting Survey conducted earlier this year. More than 500 consulting professionals of all levels across the Asia Pacific region assessed their peer consulting firms on a scale of 1 to 10 based on prestige and practice area strengths (respondents were unable to rate their own employers and rated only firms with which they were familiar). Consultants also rated their own firm on a variety of "best to work for" factors in such categories as firm culture, compensation, overall satisfaction and hours, among others. For the purpose of the Asia Consulting Ranking, a weighted formula was used to combine findings from both prestige and best to work for ratings to create the overall "Top Consulting" category.
The Top 10 Asia Pacific Firms to Work for Based on Vault's Annual Consulting Survey are:
"Last year, McKinsey & Company made a concentrated effort to improve the quality of life for its employees across the globe. That effort helped the firm beat out Bain & Company as the top firm to work for in the Asia-Pacific region," noted Phil Stott, Consulting Editor at Vault.com. "This year, the firm continued that commitment, which was demonstrated by its improved standing across a number of quality of life rankings."
McKinsey & Company and Bain & Company Dominate Best To Work For Rankings
McKinsey was impressive with its scores for quality of life, ranking No. 1 in Ability to Challenge, Benefits, Exit Opportunities, Firm Leadership, Informal Training, Innovation, Interaction with Clients, Internal Mobility, Overall Business Outlook, Promotion Policies, Relationships with Supervisors, Satisfaction, Selectivity while also demonstrating a strong commitment to diversity practices, ranking atop Diversity for Minorities, Diversity for Disabilities and Overall Diversity.
Consultants at the firm note that, when it came to quality of life, at McKinsey, "there is a recognition it is an issue and all attempts are made to help folk strike a balance." At the same time, consultants say "I can enjoy much work life balance in my current role." Others at McKinsey state that "the perks and comforts are the best ever."
McKinsey's traditional rival, Bain & Company, also earned high marks, taking the No. 1 ranking in 7 Best to Work For categories - Compensation, Firm Culture, Formal Training, Green Initiatives, Philanthropy, Travel Requirements and Work/Life Balance – and a top spot in the Diversity for LGBT category.
According to Bain consultants, "Bain takes quality of life seriously and gives people a fair bit of flexibility" and "Bain has, by far, the best culture of any professional services firm I have been in contact with.: Another consultant at the firm notes that "Job sustainability is at the forefront of management attention and firm culture. Although we work hard, it is a clear expectation of our teams that balance is an individual and corporate responsibility that must be met."
In other Best to Work For rankings, OC&C Strategy Consultants took the top spot for Hours in Office while Oliver Wyman was No. 1 for International Opportunities. OC&C Strategy Consultants also earned the top spot for its commitment to Diversity for Women.
McKinsey Continues to Shine Atop Practice Area Rankings; Accenture Still Tops in IT
McKinsey's name is synonymous with prestige. The firm has ranked No. 1 for prestige across the consulting industry in every region where Vault has conducted its survey. That reputation is built on a solid showing in individual practice areas, with the firm coming top in six practice area rankings this year: Economic Consulting, Energy Consulting, Financial Consulting, Healthcare Consulting, Management Consulting, and Strategy Consulting,
Consultants at peer firms note that McKinsey is considered the "benchmark," "elite," "the best," "top notch," "respected," and "the gold standard" in the industry. Other survey respondents add that McKinsey is "still the biggest brand," and "the mecca, the maxima and the Vatican of all the consulting firms."
Outside of McKinsey, Accenture made the second most impressive showing in the Vault Asia-Pacific Consulting Practice Area Rankings, taking the top spot in three categories – IT Operations Consulting, IT Strategy Consulting and Operations Consulting.
Consultants say that Accenture is known for its "ops work," is "IT focused" and are considered "IT geeks." But they get results. Survey respondents note that Accenture is "elite," provides "quality work," is "technically sound" with "great opportunities," and is an "excellent resume point."
In the remaining Practice Area rakings, Hay Group was No. 1 for HR Consulting and Boston Consulting Group stood atop the Retail Consulting category.
View the entire Vault Asia Pacific Consulting Rankings.
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