Vault Employer Profile - Bain PDF

EMPLOY
PROFILE
VAULT EMPLOYER PROFILE:
BAIN &
COMPANY
BY THE STAFF OF VAULT
2004 Vault Inc.
Copyright 2004 by Vault Inc. All rights reserved.

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ISBN 158131330-6
Printed in the United States of America
Bain & Company
Table of Contents
INTRODUCTION
Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1
Bain & Company at a Glance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2
THE SCOOP
History . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3
ORGANIZATION
11
CEOs Bio . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11

Locations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .12
Key Officers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .13
Ownership . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .13
VAULT NEWSWIRE
15
OUR SURVEY SAYS
19
GETTING HIRED
31
The Hiring Process . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .31

Questions to Expect . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .33
Questions to Ask . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .36
Compensation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .37
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iii
ON THE JOB
39
A Day in the Life . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .39

Job Descriptions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .41
iv
FINAL ANALYSIS
45
RECOMMENDED READING
47
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Bain & Company
Introduction
Overview
Bain, in its time, has gone from humble beginnings to great heights; has been
embroiled by lawsuits and buoyed by successes; has been led by the
traditional (founder Bill Bain, athletic, ambitious, straightforward) and the
very nontraditional (current chairman Orit Gadiesh, she of purple hair and
miniskirts). The company began in a Boston townhouse, expanded to Lewis
Wharf, a dock warehouse, and soon spilled over into London, Munich, Paris,
Milan, Palo Alto even, a few years ago, old New York. It also has had a
rough course at times. Its gotten into hot water over dealings with Guinness,
and its been in court with Value Partners and with Club Med. Its struggled
over how to split its earnings, at one point falling on an Employee Stock
Ownership Plan that saw the company overvalue itself and become mired in
debt and a slew of layoffs followed.
Nevertheless, Bain continues to hold its place among the Big Three
consultants. Its lauded culture is affirmed every year in companywide
retreats to such exotic places as Cancun and Cape Cod. With 2,300
employees, a myriad of practice groups, an impressive alumni network, and
strong training programs, its easy to see why Bain remains one of the most
coveted, and prestigious, consultancies.
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Bain & Company at a Glance

131 Dartmouth Street
Boston, MA 02116
Phone: (617) 572-2000
Fax: (617) 572-2427
www.bain.com
EMPLOYMENT CONTACT
E-mail: recruiting@bain.com
www.bain.com/bainweb/join_bain/joi
n_bain_overview.asp
UPPERS
THE STATS
Employer Type: Private Company
Chairman: Orit Gadiesh
No. of offices: 30
2004 Employees: 2,300
2003 Employees: 2,300
Great access to clients

Excellent training
Firm cohesiveness
Part-time options available
Focus on community service
Great THE
launching
point for careers
BUZZ
WHAT EMPLOYEES AT OTHER FIRMS ARE SAYING
PRACTICE AREAS
DOWNERS
Core Process Redesign

Cost & Capital Management
Customer and Product Management
Full Potential Programs
Growth
IT
M&A
Organization
Private Equity
Strategy
Supply Chain Management
Unpredictable hours
Travel increasingly required
Salaries low for associate
consultants
Minority representation a little low
Few women at top levels
KEY COMPETITORS
Booz Allen Hamilton
BCG
McKinsey & Company
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Bain & Company
The Scoop
History
The Bain beginning
It was in 1967 that one Bill Bain, a fundraiser for Vanderbilt University,
contacted the founder of Boston Consulting Group, Bruce Henderson. Could
Henderson advise him on setting up a business school at Vanderbilt? He
could and he offered more than advice. He liked, and hired, the young and
relatively inexperienced, Bain. Within two years, his protege was making a
six-figure salary, and was thought to be the heir apparent to Henderson.
Bain, though, didnt want to wait. By 1972, he was pressuring Henderson to
appoint him CEO. Henderson didnt want to retire, though. Whats more,
Bain took issue with some of BCGs strategy. He thought the firm was too
focused on reports, not results. So in 1973, with a few BCG consultants
beside him, Bain left to set up his own firm.
It had humble beginnings housed in Bains Beacon Hill apartment, with one
phone line and three employees. But it grew fast. Business boomed by 40 to
50 percent every year from the founding until the mid-1980s. Bill Bain
brought on more and more employees that, like him, tended to be fastidious,
athletic and bright. In return, he demanded a high level of loyalty.
Results based
The Bain approach differed from the start. Rather than merely observing, its
consultants moved into a company, worked alongside the companys
employees, and only then made recommendations. Whats more, Bain
assured his clients that his consultancy would not work for more than one
company, minimizing conflict of interest and maximizing security. (Today,
that rule has been relaxed somewhat; Bain will work for more than one client
in an industry, as long as one clients success doesnt mean anothers failure.)
Most clients liked this approach. In 1981, National Steel hired Bain. Three
years later, after implementing Bains recommendations to simultaneously
downsize and modernize, the company went from being the highest-cost steel
producer to the lowest-cost. Bain also worked for Chrysler, helping it cut
more than $1,400 from the cost of the Omni Horizon by repackaging its
options.

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Another facet of its approach involved the consultants working closely with
client CEOs. Some charged that this made these consultants into the CEOs
personal firing squads, simply putting the Bain stamp on CEOs preconceived
notions. To counter such charges, the company in 1983 established the socalled Bain Index. This measured clients stock performance against the Dow
Jones Industrial Average. The goal, Bain said, was to give its clients an
increase in company value equal to 10 times Bains fees. This seemed
popular, and Bain tripled its staff between 1980 and 1986.
Such an aggressive approach was unpalatable to a few clients, though, and in
its early days Bain lost such accounts as Texas Instruments, Black & Decker
and Monsanto. And one notorious case with Guinness PLC seemed to bring
the wrath of the world upon Bain.
Guinness stout
Bain began consulting for Guinness in 1981, when the beer company had
drifted from its beermaking business during a decade-long diversification
strategy that resulted in it being reduced to little more than penny stock status.
Under Bains recommendations, Guinness chairman Ernest Saunders dumped
150 companies, then branched into the hard liquor market with the acquisition
of two whiskey companies, one called Distillers. By 1986, the companys
profit levels were up six-fold since Bains involvement and its stock soared to
$5.75 per share.
A Bainie named Olivier Roux was credited with much of this turnaround.
Hed remained at Guinness to help out Saunders. But in December 1986
Britains Department of Trade and Industry investigated the Distillers sale. It
discovered that Guinness had illegally inflated the price of its stock in order
to fend off a rival bid. Roux quickly cut a deal with authorities and testified
against Guinness officials, while Saunders and other execs went to prison.
Roux avoided jail time, and although Bain was not deemed legally culpable,
its conduct in the affair was not well received in the London business
community. The matter received remarkably little press attention in America.
While companies didnt point to the Guinness debacle as the source of their
unhappiness, many of Bains clients began to shy away from the consulting
firm.
Faltering forward
But Bains comeuppance was nearing. Older partners were upset over the
partnership deed. It was, said one, not a bill of rights, but the rights of Bill.
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The partners werent entitled to a specific portion of the companys income;

rather, Bill Bain allotted profits at year-end as he liked. Since the partners
didnt know what the firm earned, they couldnt challenge their allotments.
Plus, they had to sign non-compete agreements.
To assuage senior partners, the company decided to launch an Employee
Stock Ownership Plan, which overvalued the firm by quite a bit. The
company was incorporated in 1985, and over the next two years Bill Bain and
seven senior executives sold off 30 percent of their equity to two ESOPs for
$200 million. It was a steep price that appeared justified based on Bains
strong growth rate, despite annual interest payments of $25 million. When the
dual blow of the Guinness affair and a lagging economy hit, the debt load
became intolerable, resulting in a 10 percent reduction in staff in 1988. The
firm then had a larger number of young employees angry that because of
Bains high debt payments their bonuses suffered.
In an attempt to build morale, Bain brought in Peter Dawkins, the former
Heisman Trophy-winning football player and ex-Army general, to head North
American Operations. Dawkins had great business contacts but little
consulting experience, and he failed. More consultants quit, and in 1990 Bill
Bain attempted to sell the business, only to find there were no takers. He fired
another 200 consultants, and by 1991, his eponymous company was about to
face bankruptcy.
Goodbye to Bill
Indeed, the only way he could save his company seemed to be to sacrifice
himself. Bain resigned, replacing himself with financial whiz Mitt Romney.
To get the firm on solid financial ground, the founding partners returned
about $100 million by dissolving Bain Holdings, an investment fund partially
backed by the ESOP. The founding partners also gave up their 70 precent
stake in the company so that Bains 75 younger partners now owned 60
percent of the business and the ESOP the remaining 40 percent. Now, Bain
had to convince clients that it could run them, even with its apparent problems
running itself.
A big part of this strategy was the hiring of Orit Gadiesh as chairman, a
charismatic and talented woman (the first woman to hold that position at any
major consultancy) who returned the company to its days of prestige and
growth. Shes still nominally in charge, but John Donahoe, worldwide
managing director, runs most of the day-to-day operations. In February 2000,
Bains global partner group elected Gadiesh chair of the board for a third
consecutive term, while Tom Tierney was replaced by Donahoe in a planned
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succession after two terms. Donahoe had been head of Bains West Coast
operations since 1992 and had spearheaded the development of bainlab, the
firms e-commerce incubator. Bainlab works globally with entrepreneurs and
corporations dot-com branches, providing management expertise. Donahoe
is encouraging Bains active participation in all sectors of the digital
economy, in all regions of the globe.
The firm now has roughly 2,300 employees. Bains client base includes
international corporations in all sectors of business and industry, such as
financial services, e-commerce, retail, health care, consumer products and
technology. The firm boasts that their clients usually outperform the S&P 500
by three to one. And Bain occasionally takes equity as part of its fee. The
firm measures its success by its clients results, and Bain staff is likewise
rewarded through these investments. For example, Bain took an ownership
stake in client Del Monte, the fruit processor, while trying to revamp the
companys strategy. Today, Bain gets about 10 percent of its revenue from
private equity investments in client firms.
Taking action
Corporate culture is key and almost cult-like at Bain. The company
insists that immediate and valuable suggestions for its clients are of the
utmost importance. And OG, or Orit Gadiesh, the outspoken chairman of
Bain & Company, tells her employees that its better to have an 80 percent
solution that can be immediately implemented than a perfect, 100 percent
solution that is purely theoretical.
Little Big Three

Part of this may be a way to differentiate Bain from the other, bigger, big
three strategy consulting competitors, BCG and McKinsey & Company.
While the other two are quite public and press-savvy, Bain has always tried
to conceal the identity of its clients, and has shied away from press. And it
takes iconoclastic stances occasionally, like refusing to open a New York City
office for a quarter of a century (the New York office finally opened in 2000).
Bain used to hold fast to its image as a generalist strategy consulting firm.
Former Bain worldwide managing director Tierney once said that he
envisioned a near-future scenario where there would be four buckets in the
consulting industry: strategy (where Bain places itself), expertise or
operations firms, information technology and accounting firms. Tierney
predicted greater differentiation [and] greater gaps among those four types
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of competitors. And within those buckets, you are going to see an increasing
distance between high-quality providers and the other providers,
differentiation based on quality, not on size.
In this, its strategy differed from the industry at large. Many large
consultancies are expanding their offerings to include operations, IT and even
strategy consulting. One example is Price Waterhouse and Coopers &
Lybrand, which merged in 1998 to spawn PricewaterhouseCoopers. In May
2000, accounting firm Ernst & Young acquired consulting firm Cap Gemini,
instantly making the combined firm one of the largest in the industry.
Given the industry shift, Bain seems to have switched tack. Now, it offers
consulting expertise in areas such as IT, organization, supply-chain
management, and private equity.
Up, up and away

Bain is also known for breeding top-tier executives. Many Bainies learn the
craft for a few years, then jump to client companies or start entrepreneurial
ventures of their own (two successful examples are Intuit Inc., a California
software firm started by former Bain employee Scott D. Cook, and eBay,
which ex-Bain consultant Meg Whitman helped found).
Investing in Bain
Bain, the consultancy, shouldnt be confused with its venture-capital wing,
Bain Capital. This shop, founded in 1984, manages over $17 billion in assets.
Its funds range from leveraged debt to public equity to venture capital. The
two companies are theoretically independent, but enjoy a close relationship.
Bain Capital was founded by four former Bain consultants. Its not difficult
to jump between the two companies, our contacts say.
What it knows
One of Bains flagship consulting groups is its customer loyalty
concentration. What is the effect of loyalty on profits, and how much is a
good customer worth over time? Bain argues that loyal customers are less
hassle (to customer-service reps, for example), less price sensitive and good
spreaders of word-of-mouth. A 5 percent increase in loyalty, Bain says and
tells its customers can increase profitability between 40 and 95 percent.
Bains other capability groups include: Core Process Redesign (Best
Practices; Business Process Redesign); Cost & Capital Management (Asset
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Management, Complexity Reduction, Cost Reduction, Cycle Time

Reduction, Manufacturing Strategy, Overhead Optimization, R&D
Management); Customer and Product Management (Brand Strategy,
Customer Loyalty, Customer Segmentation, Customer Service, Distribution
Channels, Market Research, Pricing, Sales/Marketing, Value Proposition);
Full Potential programs (Change Management, Full Potential Assessment,
New Business Launch, Profit Pools, Turnaround); Growth (Adjacency
Mapping, Benchmarking, Business Unit Strategy, Innovation Strategy,
International Expansion, New Market Assessment); IT (IT Full Potential,
Business Alignment, Complexity Management, Outsourcing/Offshoring;
Value Delivery); M&A; Organization (Knowledge Management,
Organizational Design, Performance Dashboard, Role of the Center); Private
Equity, Strategy (Business Unit Portfolio Management, Corporate Strategy,
Globalization, Scenario Planning, Shareholder Value, Strategic Planning) and
Supply Chain Management (Inventory Management, Outsourcing,
Purchasing, Value Chain Optimization, Value Managed Relationships).
Law and litigation

Bain recently resolved a longtime dispute with another consultancy. In
December 2002 it had lost a case with Milan-based Value Partners, which
successfully argued that Bain had unfairly hired consultants and took clients
away from its Brazilian office. Bain subsequently appealed the $10 million
jury verdict.
In another case, Bain was entangled in a six-year controversy involving the
former CEO of Club Med, Serge Trigano, who was ousted by his board of
directors in February 1997. He filed a $70 million suit against Bain in
September 1999, arguing that the firm had used its role as a consultant to
Club Med to undermine his position in order to serve the interests of another
client, the Agnelli family of Fiat fame and Club Meds largest shareholder.
Club Med suffered a disastrous year in 1996, losing $136 million when it had
anticipated a $40 million profit. Bain produced two versions of a report about
Club Meds problems. According to the Boston Globe, The first version was
highly critical of Club Meds operation and was circulated among swing
voters on the companys board just days before Triganos forced resignation.
Trigano alleged in his suit the first draft was a fraudulent document spread
in a deliberate attempt to discredit him. The second version was critical but
more balanced; by the time it was circulated, according to Triganos lawsuit,
the damage had already been done. The suit slowly wound its way through
the legal system, delayed to some extent because it was originally filed in
Manhattan and then moved to Boston after a federal judge ruled that New
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York was the wrong jurisdiction. From the start, Bain characterized the suit
as meritless, and in February 2003 that opinion was confirmed when after
listening to several days of testimony a Boston judge dismissed all charges
before the case even reached a jury.
In October 2003, the Boston Herald began a series of articles charging that
Bains work with Philip Morris during Massachusetts governor Mitt
Romneys tenure with the firm was influencing Romneys opposition to a
statewide smoking ban. Not true, said Romney, insisting that Bain Capital,
which he founded after leaving Bain, did no business with tobacco firms. In
May 2003, the Boston Globe reported that a state senate committee was
investigating a possible ethics breach involving Romneys use of the firm to
conduct crucial policy research.
An eye on nonprofits
Meanwhile, an arm of Bain called the Bridgespan Group continues to thrive.
A legally separate nonprofit organization, this offers strategic consulting to
other nonprofit organizations for a reduced fee. Bainies can take on a sixmonth stint at Bridgespan if theyre qualified (of course, a pay cut goes along
with the territory).
The client roster

Of course, most of Bains powerful clients lie in the for-profit world. In
August 2003, United Airlines announced that it would extend a contract with
Bain, in which the consultancy would help the airline deal with its partner
dxpress carriers. Bain earned roughly $1.5 million for its work with United
between February and May 2003, helping the airline develop memos of
understanding with carriers SkyWest, Air Wisconsin, Mesa and Trans States.
In November 2003, diamond giant De Beers confirmed that it had hired Bain
to help rethink its brand strategy and stanch its declining market share. And
in August 2003, Glasgow-based distiller Kyndal Spirits renamed itself after
one of its whisky brands, Whyte and Mackay, and cut 200 jobs following a
review by Bain. The firm also has advised Starbucks on its food strategy,
Kroger on its grocery approach, and Dell Computers and Continental
Airlines.
The publishing world

Bain has always been active in publishing its ideas, through widely read
studies and books. The book Beyond the Core, by Bains Chris Zook, was
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named one of the five best business books of 2003 by The Economist. It
encapsulates the Bain approach, and builds on Zooks earlier work, Profit
From the Core, in which he explained how to grow profitably by focusing on
a firms core business. In Beyond the Core, Zook tells readers what to do
when this core-centered strategy isnt enough (the answer: look for
adjacent markets where customers, products, sales channels, geographies,
or other capabilities are shared with their main businesses). By staying one
or two adjacent steps from their core business, Zook argues, companies can
succeed by drawing on their strengths.
Bain also publishes the Management Tools Survey, a global survey on the
usage, satisfaction and effectiveness of several widely used management
tools among a broad range of senior executives. Headed by Bain director
Darrell Rigby and published since the mid-1990s, the survey has been cited
in Forbes, The Financial Times, The Economist, and other business
publications.
Meanwhile, a new catchphrase is appearing in Bain literature: True North.
Part of a 2003 rebranding strategy, this represents Bain as an unchanging
point of reference and grounding, despite shifting conditions and turbulent
environments.
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Organization
CEOs Bio
Bains charismatic chair: Orit Gadiesh
Female, occasionally outlandish, outspoken, fashionable Orit Gadiesh
(pronounced o-REET GUH-deesh) isnt your typical corporate chief. She
may flaunt fashion-forward moves (purple hair, short skirts and bright
costume jewelry). But shes also immensely qualified. Born in Israel to an
Israeli general, she served in the intelligence wing of the Israeli army before
teaching psychology at Hebrew University in Jerusalem, where she received
a BA in Psychology with high honors. After dating a Harvard Business
School student during a leave of absence, she decided to apply to the school
herself. The first draft of her application essay was in Hebrew, and then she
painstakingly translated it word-for-word into English. Harvard took her, and
she became a Baker Scholar (an honor reserved for the top 5 percent of the
class) and won a prize for most outstanding marketing student. For her rapid
speech and straightforward approach, she was nicknamed Machine Gun
Orit, and it was rumored shed driven a tank in Israel.
After her graduation in 1977, a conversation with Bill Bain during her
interview enticed her to sign on. Machine Gun Orit quite liked Bains
results-driven implementation approach. She made her mark doing work for
the steel industry. I fell in love with steel, she once exclaimed. I still have
my steel shoes and my hard hat. Several years later, when Bain was rocked
by falling revenue, scandal and wrenching change in the late 1980s and early
1990s (including the decision of founding father Bain to leave his own
company), the firm needed a fresh start. In 1993 it turned to Gadiesh and her
marketing savvy.
Today, Gadiesh continues to be a workhorse, clocking nearly 100 hours a
week and spending 70 percent of her time on client work. Married to
Grenville Byford, an Oxford graduate and self-proclaimed adventurer,
Gadiesh also enjoys hiking, reading and the theater. (She played Eliza
Doolittle in a high school version of My Fair Lady, along with training for the
high jump and 100-meter dash).

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Bain & Company

Organization
Locations
U.S.
Boston, MA (HQ)
Atlanta, GA
Chicago, IL
Dallas, TX
Los Angeles, CA
New York, NY
Palo Alto, CA
San Francisco, CA
International
Amsterdam, Netherlands
Beijing, China
Brussels, Belgium
Dusseldorf, Germany
Hong Kong, China
Johannesburg, South Africa
London, England
Madrid, Spain
Melbourne, Australia
Mexico City, Mexico
Milan, Italy
Munich, Germany
Paris, France
Rome, Italy
Sao Paulo, Brazil
Seoul, Korea
Shanghai, China
Singapore
Stockholm, Sweden
Sydney, Australia
Tokyo, Japan
Toronto, Canada
Zurich, Switzerland
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Organization
Key Officers
Chairman of the board: Orit Gadiesh
Worldwide managing director: John Donahoe
CFO: Len Banos
Ownership
Bain is a private business owned by its partners. Bains main competitors are
the other two Big Three strategy consulting firms, McKinsey & Company and
Boston Consulting Group. On a lesser scale, it competes with firms like the
Monitor Group or Mercer Management Consulting. Meanwhile, firms like
Accenture, EDS, IBM Global Services and Arthur D. Little vie with Bain for
industry-specific engagements.

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Bain & Company
Vault Newswire
July 2004: Schwab working with Bain
Charles Schwab announces that it is working with Bain as part of a
restructuring and cost-cutting effort. Bain has a big job, as the financial
services company wants to cut costs by $150 million to $200 million
annually, and wants a roadmap for doing so by the end of this year.
July 2004: Bain Capital investment IPOs

Dominos Pizza, one of Bain Capitals big investments, goes public for $14 a
share.
March 2004: Ex-Bainie becomes Dell CEO

Kevin Rollins, a former Bainie and longtime No. 2 at Dell, is appointed to
CEO, succeeding Michael Dell.
February 2004: Bain publishes widely-watched

study on California businesses
Bain publishes a widely-watched study for the California Business
Roundtable. Its surprising finding: 40 percent of California companies plan
to move jobs out-of-state in the future. Texas is the most popular destination
for these jobs.
November 2003: Bain hiring set to increase

The director of Bains Dallas office, Mark Jones, tells The New York Times
that the company will increase the number of people it recruits on campus by
30 percent.
May 2003: Romneys use of Bain hits the fan

The investigative arm of the Massachusetts Senate launches an inquiry into
whether Governor Mit Romneys administration violated ethics or campaign
finance laws by using Bain to provide policy research. Bains study of the
states public college system was especially controversial due to its
recommendation that some schools actually be closed. Critics questioned the
thoroughness of the Bain study, which was conducted on a pro bono basis.

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Bain & Company

Vault Newswire
February 2003: Bain Capital Buys European

paint company
As part of an effort to scoop up castoffs of European conglomerates at
discount prices, Bain Capital has acquired leading decorative paint
manufacturer SingmaKalon, a subsidiary of TotalFinaElf SA.
February 2003: Club Med matter dropped

A Boston judge dismissed all charges in the Club Med litigation that had been
winding its way through the courts for nearly four years.
January 2003: Bain profit hunters hit the

road
The Boston Globe reports that in light of difficult economic times Bain had
returned to the profit hunt program that was popular during the last
downturn in the early 1990s.
November 2002: Romney named

Massachusetts governor
Ex-managing partner and chief executive officer of Bain, Mit Romney has
been elected governor of Massachusetts, leveraging his success as the chief
executive officer of the Salt Lake City Organizing Committee, which hosted
the 2002 Olympic Winter Games. Part of his winning strategy was a pledge
to apply business techniques to running the government.
August 2002: BainNet adds two new members

The BainNet alliances ability to deliver new technology-drive strategies to
its clients is bolstered by the addition of two new members: Art Technology
Group, Inc. (ATG) and SCT. ATG supplies applications and an e-business
software platform for e-commerce, relationship management and portals.
SCT provides IT business solutions to three industry groups: process
manufacturing and distribution; education; and energy, utilities and
communications.
March 2001: Former Bain Capital partner

launches fund
Former Bain Capital partner David Dominick launches a $700 million buyout
fund in San Francisco. The new firm, Golden Gate Capital, is drawing
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investments from Bain Capital itself as well as large endowments such as

Harvard and Yale Universities.
July 2000: Sailing the LevelSeas

eVolution, Bains latest online venture, makes its first investment: a $25
million stake in LevelSeas, an online ocean freight marketplace. LevelSeas
is backed by three of the leading freight users: BP Amoco, Royal Dutch/Shell
and Cargill.
June 2000: BainNet is born

Bain & Company announces the formation of BainNet, an alliance of
companies dedicated to providing technology-based strategies worldwide.
Partners in the new venture include an open-source software developer, an
application service provider (ASP) and an e-business service provider (ESP).
March 2000: eVolving

Bain forms eVolution Global Partners, which will work with large companies
to develop their e-interests, as well as spin off new companies. Developed in
conjunction with venture capital firm Kleiner, Perkins, Caulfield & Byers and
private equity partners from the Texas Pacific Group, eVolution is
headquartered in London.
February 2000: Third times the charm

Bains global partner group elects Orit Gadiesh board chairman for the third
consecutive term. Worldwide Managing Director Tom Tierney is replaced by
John Donahoe, in a planned succession, after two terms. Donahoe was
previously head of the firms West Coast operations.
February 2000: Bain announces a great idea

Bains e-commerce incubator arm, bainlab, announces the first in what it
hopes will become a series of weblets offshoots of bainlab conceived and
funded by Bain. Called Ideaforest, the new company will sell arts and crafts
materials, kits and finished products. The crafts business represents $20
billion in annual sales, representing over 100,000 different items. Bain hopes
that Ideaforest will help centralize these products and bring crafts lovers
together in an online community.

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January 2000: Bridge-ing the gap

The Bridge Group, a legally separate nonprofit organization, is a Bain
innovation intended to provide strategic consulting to other nonprofits for a
reduced fee. The best and brightest consultants from Bain can volunteer for
up to six months at the Bridge Group. The Boston- and San Francisco-based
staff of 12 hopes to serve 10 clients per year, and eventually build up to a
roster of 40.
September 1999: Club Med suits up

The former chairman of Club Med, Serge Trigano, files suit against Bain,
alleging that the firm conspired with other shareholders to kick him out. Bain
calls the suit, which seeks $70 million in damages, a completely meritless
case.
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Claps for culture
Our surveyees laud Bains culture and people, declaring them reason enough
to work there. Its a one of a kind, young, fun culture. This is relatively
consistent around the globe and is reinforced through worldwide training
programs, says a consultant. Take note that its a high performance culture
with a great emphasis on feedback, both positive and negative. This can
make it intense but fun and entrepreneurial. And be prepared for a
packed social schedule-Bain is great about organizing or supporting (or
allowing us to organize) social/cultural events that make work more
enjoyable, says a source. This makes at least one consultant feel like Im
still in college, which is a good thing.
A few say the cultures been changing for the worse, though. Bains
traditionally strong culture has been watered down over the past two years
due to a significant increase in travel and small classes of new consultants and
associate consultants who drive a lot of the activity around the office. This
should change now that we are bringing in large new classes, notes one
insider.
Meanwhile, the people are said to be terrific. The people are selected on
their social skills (which does not always happen at competitors), says a
source. They tend not to take themselves too seriously. (Notes one source,
Theres an interesting dichotomy between how seriously people approach
client issues, yet how people really dont take themselves too seriously.)
One consultant enthuses, I look forward to seeing my colleagues every
morning when I come in to work. Plus, there are very few prima donnas.
Expect fun people who are easy to work with and very, very smart.
Signs of life
While work-life balance is hardly balanced, consultants say they appreciate
Bains efforts in this direction. Within the parameters of consulting (e.g. you
DO work a lot), Bain does a great job of trying to balance work with the rest
of your life. Work levels do vary by office (e.g. L.A. works more hours than
San Francisco or Atlanta), but weekend work is usually reserved only when
absolutely necessary (before a big presentation), says one source. Adds
another insider, It is extremely rare for us to have to cancel a previously
established personal appointment, or vacations.

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Also helpful is the fact that facetime is not a requirement, only getting the
job done. So while we do crunch to meet deadlines and there are peaks
and valleys, most agree that overall, it is a sustainable lifestyle. People
who are proactive about balance and are able to work efficiently can usually
maintain a sustainable balance, one source says.
But some dont agree. Bain makes a very public effort of promoting worklife balance but comes away with moderate success, says a source. Like any
firm, when things are busy they are busy. I think the most important thing for
potential [associate consultants] to understand is that this is not a 50 hour per
week job. It is 60 on average and 80 happens, sometimes with frequency.
Consulting is a difficult industry if you really want a balanced life. Its the
nature of the business. You are at the clients beck and call ... and they know
that, says another source. This is a high pressure, client-driven
environment which makes it hard to build a sustainable lifestyle, opines a
third consultant. Our surveyees report that weekend work is occasionally
common. Most say they work between four and 30 weekends a year.
Bain gets special accolades for trying to accommodate those with families
or those with a preference not to travel. I am a full-time working mother,
and have been able to balance this well so far. Bain has been very supportive,
says a source. Another source agrees, I recently started working part-time
as I had a baby, and the firm has been really excellent as they try to help me
manage both parts of my life.
In this vein, it offers sabbaticals which can range from one to six months,
and a part-time option, which helps. Anyone can take on just one client case
(instead of the usual too), get paid 60 percent, and have your second side be
at home. That said, work-life balance is pretty difficult if working part time.
We work 60-70 hours per week on average. Travel is still just a day or two
per week.
Hourly dues
Work hours are very variable (50 to 90 hours) depending on the client, and
the case requirements at any given time, says a source. Projects last as few
as four weeks for private equity deals, up to 10 months for corporate client
work. Meanwhile, most Bainies are fully staffed all the time; a week here or
there is the most most spend not on projects.
Hours are difficult and a drawback of the consulting life. Probably the most
difficult thing is the variability due to client/partner demands, says a source.
But variability to one is anothers flexibility: I appreciate the flexibility in
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work hours. Some days Ill leave at 2 p.m. or not come in until noon if I am
waiting on something from a client and have no work to get done. Being
empowered to enter and leave the office freely in addition to working at home
makes the long hours much more bearable, notes a source. And while
hours are high, they are increasingly controllable as you get more senior.
Travel pass
Travel can be taxing on Bainies, who are away anywhere from zero to five
days a week. (Even if I spend most of my time in another city, I normally
spend Friday in the office, notes one.) Travel is currently increasing,
especially in Bain Northeast, which is increasingly relying on cases that
bring consulting staff out of the office (although often only one or two days
a week). The double case model has not yet adapted well to this shift; its a
rocky spot that I expect to get worked out in the next few years.
That said, Bain does not generally camp out at the client. Instead, we travel
when it necessary for meetings, data gathering, etc. We recognize that our
clients have day jobs. The exception is where we are doing intense operations
or turnaround work. Agrees another source, When we do have to travel, we
dont believe in face time, so you dont camp out at the client four to five
days per week ... you only go when you need to be there (which tends to be
two to three days/week ... sometimes no travel for a given week). About half
of our cases are local.
So, travel is very much on a case-by-case basis. It totally depends on what
client you are staffed on. Heavy travel clients will be three or four days per
week. Some require none. Also it depends on if the office uses a one-case or
two-case staffing model (one case means more travel), notes a source. On
average, we travel less than other firms in that it is rare to be at a client four
days a week, says another source. Agrees an insider, Bain travels much less
than McKinsey, but you can end up on a project, during which you are out of
town every week.
There are also the rare consultants who dont travel much. Since working in
our London office (about two years), I have had only two days of work
related travel outside of London, reports one. And since Bains Boston
office has a two-case model, it means new hires are rarely on the road. Ive
been in town for the past year. Before that, I was on a travel case for one-anda-half years, travelling two to three days/week, reports a source. Happily,
many would agree with the consultant who says, I can honestly say Ive
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Pay check
Salaries at Bain are competitive at the top level, but a little low (at least
compared with the other Big Threes) for associate consultants.
Almost all the associate consultants we surveyed reported earning $57,000.
Bonuses seem to be between $7,000 and $9,000.
Moving to senior associate consultant, a $70,000 salary seems to be the norm,
with bonuses hovering around the $20,000 mark.
Consultants we surveyed (most with MBAs) reported earning around
$105,000, with bonuses ranging from $25,000 to $39,000. Signing bonuses
seem to be common for this group, and they tend to be about $20,000. In
terms of other monetary perks, a consultant says, Bain has a program for
sharing equity in start-up clients that looked pretty exciting during the dotcom boom. These days, of course, we dont hear as much about it anymore.
Managers get between $125,000 and $150,000 salary, plus between $60,000
and $160,000 in bonuses. Managers (and obviously partners) have profit
sharing and opportunities to invest in private equity investments. So, I expect
my performance bonus to be about $80K (probably slightly more, but not
much more) and my profit sharing could range from about $40K (based on
firm performance in 2003) to $80K+ (based on a great year, which is what we
are currently on pace for), notes one manager.
Theres also supposed to be a 6 percent 401(k) match, and lots of nice
extras like a $50/month technology allowance, and $20 for any meal when
youve been at work for 10 hours or longer. Up to 90 percent of cell phone
bills are covered in some offices (the Northeast is said to be one).
Theres a host of other perks, too. Free Celtics and Sox tickets, a gym,
free coffees and fruits, company-sponsored pints, company car, health
and life insurance, a ski house in Tahoe, beach house in Santa Cruz, a
$2,000 home-office allowance, and the company spends a lot on the annual
summer retreat (two and a a half days) and the Christmas party. Both are tons
of fun and nice perks.
Also, senior associate consultants are allowed to take six-month transfers to
other Bain offices or externships at other companies. These are amazing
opportunities that I doubt other firms offer. There are also international
transfers for top-performers (short-term and permanent).
The training is considered a perk by most consultants. There are extremely
well-run, fun, and meaningful worldwide training sessions. I spent eight
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quality days in Miami in February this year [2004] with colleagues from all
around the world. Another consultant opines, Our summer offsite at a New
England resort is amazing. People look forward to it all year. Plus, the firm
works really hard to make its employees happy. Last year a group of
[associate consultants] went on a cruise rather than 30 of us each taking a
vacation day, the firm gave us the day off in addition to contributing $50 to a
private excursion while we were in the Caribbean.
View from the top

One of the big perks of working at Bain is the opportunity to interact with top
management. While stronger performers get more opportunities, most say
theyre really pleased with the chances they receive. I deal with the senior
VPs or CEOs on a daily basis, notes a manager. On a more junior level, No
other friend of mine, two years out of college, has had the opportunity to
present (more than a handful of times) to stockholders and C-level executives
(and actually have them act on what youre presenting!), says one lowerlevel consultant. Agrees another insider, My supervisors are very
approachable; the door is always open, so to speak. Also, whenever possible
I get the chance to interact with the clients top level management.
The praise continues. Interaction with top management starts very soon and
is an important booster to grow up, notes one source. Another says,
Mentorship is probably my favorite thing about Bain. The people I work for
take great care of me and provide me with consistently growing
responsibilities and helpful feedback. Another source reports, Supervisors
at Bain are very intelligent and have been trained as good managers for the
most part.
Client contact seems to be the norm. Since the first day in Bain I always had
high exposure with clients management, says one consultant. Another
consultant agrees, You are given as much responsibility and interaction with
clients as you can handle. Because Bain works with mid-size clients on a
frequent basis (companies around $1billion), consultants have an opportunity
to interact directly with a CEO, explains a source. The CEO knew my
name at the last 3 clients. There were people who worked at the client over
10 years who the CEOs never knew. Summarizes one consultant, We
always have the opportunity to interact with clients at the highest level. This
is one of the key aspects of consultancy, as you have the opportunity to learn
from both your own firm and key members of the client. Because the clients
are results orientated, we see the impact of our work in the clients behavior
and decision making very early on, which is very rewarding. As a result, you
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are often asked your opinion on issues as they evolve, rather than having ages
to analyze piles of data it feels very real.
Meanwhile, there are lots of activities to bring the office together. Extensive
emphasis (and budget!) put towards formal and informal mentoring
throughout the office both within consulting classes and between different
levels of the company. One consultant observes that, The ability to interact
gets better with tenure as can be expected. I have not worked on a case where
I have not known the partner and he has not known me though, which is a
good thing.
Office space
The offices in most locations are said to be really nice. Bain has amazing
offices, always in the No. 1 or 2 building in the city, says a source.
Singapore just had a major renovation, and Boston just moved into a brand
new office which is really superb. In London, offices are very nice and
centrally located, while Chicago boasts a high profile location in the Sears
Tower, well maintained and renovated when necessary. Says one German
source, Our office in Munich provides excellent infrastructure, a very
pleasant working atmosphere that does not at all feel like working in
cubicles, and is located right in the city center!
In certain places, the views are outstanding. Its one of the best views in
Hong Kong 68th floor view of the entire city and Kowloon.
And our 36th floor panoramic view of San Francisco Bay is the best in the
city. Our office is located in one of the best office buildings of Amsterdam
with a 360 degrees view over the city, notes a European consultant.
The layout has supporters and detractors. Bain has a bay layout in all
offices, which adds a lot to camaraderie, says one source. But in Atlanta, a
source says, the cubes are small and the walls are too low.
Training wheels
Training is another highly-rated part of life at Bain, lauded as incredible
and awesome by our surveyees. One of the great aspects of it is the
location, from Cape Cod to Cancun. There are worldwide training
sessions for first and third year ACs.
There are several partw to the training. Official training at the regional level
takes place almost once a month, and at the international level once every two
years. Unofficial training is daily, notes a source. Another explains it
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thusly: We have very much of both kinds of training (official and unofficial).
There is an official year-round ongoing training program, and full-blown
official training once a year. These once-a-year training events are fantastic,
uniting half, or all of the people (worldwide) in your class. Aside from
these trainings there is a virtual university at Bain (online), where you can
find training modules on all imaginable subject relevant to strategy
consulting, notes a source.
Training, it seems, is quite important to the company. Bain continued to
invest in global training programs during the tougher years (like 2001) while
other firms cut back. This was a great signal from the partners that they truly
value training. We have global training programs for all levels of the firm,
which is taken very seriously (mandatory attendance). Our top people take
time out of their schedules every year to serve as trainers themselves.
Obviously there is a lot of on-the-job training and mentoring as well, notes
a source.
If theres room for improvement, it might be in informal training. Informal
training is dependent on the managers and partners; some are a lot better at it
than others and this is an area where we could improve, notes a source.
Some consultants luck out, though: Ive always been working with people
that really took care of me in terms of mentoring and training on the job!
Another chimes in, We have a very good combination of informal training,
with mostly everyone on your case teams and former case teams prepared to
offer feedback and advice, and formal trainings which are held at the office
or off-site.
Women power
Bain gets high marks for accomodations for mothers, and for being generally
welcoing to women. The chairman of the board is a woman. Until three
months ago the head of the home office was a woman. And the Boston office
has made staffing compromises to ensure the viability of a part time model,
notes one source.
Women are heavily recruited. We dont quite have a 50-50 gender ratio, but
Bain does at least as well as the top business schools in that area. Women in
Bain have their own support and mentoring networks that focus on unique
issues that face them, notes a source. Another source grumbles, We
overemphasize recruiting women in the office.

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But not everyone thinks the women ratio is as high as it should be. It seems
as though globally this is an issue that Bain is trying to tackle, but there are
not yet enough runs on the board to comment on its success
Bain tries to hire and promote women but its a demanding lifestyle for most
who want to raise a family so they often leave, notes a source. My firm
doesnt have a lot of women, but they are great about trying to attract and
retain women, notes another source.
Women are not treated in any special way, were considered peers to men
and as such we do not deserve special treatment, notes one (female) source.
Another consultant says, I think we are very receptive. At the more junior
levels, intakes are often 50-50. We do find though that at the senior levels
there are fewer women.
It can vary by office. The Boston office is fabulous. Theres a majority of
women managers and about a third of the partners are women, notes a
source. However, London has a very difficult time. And in the
Netherlands few women apply to consulting in general this is a real issue
that we need to work on.
And, not surprisingly, the firm occasionally loses female consultants to
family life. Says a source, No issues with the firms willingness to hire
women, or to treat htem as equals. Issues come later, when women might
want families and I dont think many professional services firms have this
sorted out yet. It is hard to find women at the top of organizations. Bain
has some good role models of women who have reached the highest levels
while having a family, says a source. It would be nice to see more women
stay to partner and to see more women managers work on clients as opposed
to administrative functions. Many make the switch when they have kids as
the lifestyle is better, but as one who wants to stay on the client side, Id like
to see more examples, notes another.
However, there are options for women with children. The two-case model
allows for women to go part-time and work on one case. While that is
challenging, it has resulted in several women remaining at Bain as mothers,
says a source. I think that our office has been extremely supportive of
women. Ive always found the mentoring opportunties I need. Bain truly is
a meritocracy, where I feel that I am graded on my on-the-job performance.
Theres also an active womens program which consists of one to two
activities per month for all women at Bain, including administrative and
consulting staff. That being said, I think we have not been as successful at
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attracting women applicants as we could be and I would certainly like to see

more women on the consulting staff, notes a source.
Diversity and distinction

Those we surveyed say Bain seems to be trying hard with respect to recruiting
minorities, with differing results. I think Bain is very receptive to minorities
and makes an active effort to recruit them. That said, aside from Indians, we
have precious few, notes one source. We appear to be trying but we have
limited minorities in the system, says another insider. Bain is actually a
great place for all minorities. However, minority recruiting programs (other
than for GLB) seem in shambles. Very embarrassing situation at the
moment, reports one source. Extremely receptive culture, assesses
another consultant, but few minorities, particularly African-Americans.
Others say its doing just fine. Ethnicity is a non issue at Bain. The
consulting staff is generally far more diverse than our clients, says one
source. Its an oxymoron, but the majority of our office is minority, says a
San Francisco consultant. And Bain NYC has been improving and continues
to make progress in this area.
The recruiting effort for the gay and lesbian sector is quite strong, sources say.
Bain actively recruits gay, lesbian and bisexual people to work at the firm,
notes a source. And programs for the BGLT community are also strong.
Bain has an internal group for homosexuals that appears to be
significant/helpful. Most people here are quite open-minded., says a source.
Another reports that there is a written non-discrimination policy. Domestic
partner benefits. Open very senior VPs, very active gay employee group
(BGLAD), very active gay recruiting process for both MBAs and
undergrads. It is, opines a source, a very receptive, very supportive, very
open culture with regards to gays and lesbians. Their partners attend Bain
social events. Many of us have supported our gay colleagues (outside work)
in the fight to stop an amendment to the Georgia constitution to define
marriage as between a man and a woman, says a source. However, it can be
harder to be out in a number of international offices (notably in Asia) as
well as in our Dallas office, says another source.
Community center
In addition to its nonprofit wing, Bridgespan, Bain is actively involved in
community service. Our office has what we call Club Bain, which is an
informal group of like-minded Bainies, says a Singapore source. We have
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successfully completed two pro bono works for nonprofit organizations in

Singapore and is in the midst of the third one, which is going very well. The
senior team is very supportive and recognize efforts spent on this as part of
[our] review process.
Elsewhere, there are office-wide community service events, pro bono work,
charitable involvement; a wide variety. This has been a major initiative in the
last 18 months in the Northeast. Another source weighs in, We do a fair
amount of pro bono consulting, and we also have a number of different
initiatives being led by different levels within the firm. A group of associate
consultants, for example, are coordinating a mentoring program for
disadvantaged children. The entire Chicago office takes a day off each year
to participate in our Community Impact Day, when we dedicate our time to
around five charitable organizations by redecorating and repainting premises,
taking children out on field trips ,etc.
Meanwhile, the Atlanta office has donated three years of free consulting to
the City of Atlanta. In the London office we have a number of community
projects including Business Action on Homelessness; Mentoring for people
funded by the Princes Trust; Helping school children with reading and
maths; an annual community action day where we work with a variety of
charities. And in most offices, twice a year the office shuts down for
volunteer day, where groups of staff go out to local nonprofits and help them
with assorted projects for the day. We also do some pro bono consulting for
local non-profits. Plus, one extra vacation day per year can be charged to
community service. Overall, opines an insider, community involvement is
key differentiator versus competitors.
Getting ahead
Our surveyees differ on whether its a strict up-or-out culture or not. As an
AC you can pretty much stay for two years after which it is up-or-out, says
a source. But another says that promotion is almost entirely tenure based up
through the manager promotion at least in the U.S. You are promoted in
tandem with your start class, which cuts down on competition, but also means
that merit is not necessarily strongly rewarded. Another opines, The up-orout policy is applied but not in a too strict way People can take more years
to be promoted without getting kicked out of the company. Promotion time
has actually extended over the last couple of years.
Others say that it is strictly up-or-out. Consultants become managers
between two and a half and three and a half years. Another has a different
take on time frames. AC to SAC, two years. SAC to consultant, one year.
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Consultant to manager, two and half to three years. Pretty much up-or-out
with possibility for additional six months to achieve promotion. One
consultant handicaps it thusly: associate consultant is a two-year position,
after which is a promotion point to senior associate consultant. ACs who are
performing well typically make this hurdle without too much trouble. SACs
typically go to business school, although a select few will decide (and be
promoted) to stay as consultant (post-MBA title) without an MBA.
Consultants become case team leaders after 2 years, and then go through a
difficult promotion hurdle to manager. The promotion from senior
associate to consultant is generally the hardest to achieve, and you are
encouraged to attend b-school first, notes a source.
A different source says that it is a soft up-or-out, meaning you get a clear
message but you have some time to relocate. (They are very helpful in
finding you a new job if you are not going to make the next level according
to friends of mine that have been through this, says a source.) But there is
no stigma to taking a little longer to get a promotion, and often those who
were delayed make the subsequent promotion quicker than their peers, as the
skills required are different at differnet levels in the organization.
For every level, there is an expected track which sets the expectation on
how fast the consultant advances to the next level. Says on source, The
overall performance of every consultant is tracked and reviewed regularly, so
measures can be taken in case of faster development leading to faster
promotion, or slower development leading to special support. Only if these
measures do not help and the underperformance continues, will the decision
be taken to give an exit message.
And overall, the firm makes sensible compromises when consultants want to
go part-time for personal reasons (usually to be a primary caregiver to young
children). Theres an obvious career advancement trade-off when you go
part-time, but I think its well-balanced for both parties, notes an insider.

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Getting Hired
The Hiring Process
Job banks and Bain dont really mesh. The firm almost exclusively recruits
from the top schools. Of course, Bain will accept paper resumes or resumes
submitted online, but colleges and graduate schools are the best way to get a
foot in the door.
Which schools, exactly? Our sources say Bain looks for MBAs from the top
10 schools, advanced degree recipients from other schools and undergrads
from the top 20 or so schools. Ergo, head to Harvard, Dartmouth, Williams,
UVA, Amherst, Yale, Princeton, Columbia,MIT, UPenn, Brown, Cornell,
UofM, Northwestern, Illinois (limited), or Indiana (limited). For MBA,
Harvard, Stanford, Chicago, Kellogg, Wharton, and Michigan are the surest
choices. Undergrad is based mainly on geographical location and top
schools, where MBA is generally just top schools, explains a source.
Meanwhile, international offices look at top local schools (in London,
Oxford, Cambridge and Edinburgh) and top international schools like
INSEAD or LBS.
In the beginning, the prescreening is conducted by HR. Then, the hiring
process starts with a first round on campus or at a local hotel. This round
consists of two separate interviews. One is a fit interview, says a source.
We tend to conduct large numbers of first round interviews and then narrow
heavily to the second round, explains a source. Beyond that, expect at least
three individual interviews. Typically at least two interviews are case
interviews. In the interviews, occasionally about six consultants will be
involved (including all levels). Interviews are now limited to one with a
manager, and one with a partner, making it relatively short and painless.
A recent hire reports a slightly different process. For undergraduate, expect
two half-hour first round interviews with recent MBAs or third-year postundergrads. Next round is usually two 45-minute interviews with two
managers. Both rounds, when done on cam pus, are usually on back-to-back
days. All the interviews feature case-style questions.
Winning personalities
Overall, while of course grades and business experience are key, its
personality that sets those who get offers apart, our sources say. We recruit
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the best people with a combination of high intelligence and fun-loving

nature, notes a source. Get ready to perform like a star. We hire the best,
warns another, rather gung-ho, consultant.
In the interviews, we probably spend less time reviewing interviewees
resumes with them than some other firms. Rather, we try to understand a
persons critical thinking skills first and foremost, says a source. Other than
case questions (see below), undergrad recruits should expect fit questions
and a good dose of guesstimates. Offers are usually made within a day of
final interviews.
MBAs, meanwhile, get to avoid guesstimates, and focus on case questions.
See www.bain.com for examples and strategies on case questions.
Cased in
Case questions can seem off-the-cuff, and generally the case questions are
examples pulled from real life cases that the individual interview has recently
worked on, says a source. The undergraduate level tends to focus on
market sizing questions (requires less knowledge of business) due to the fact
that many students have limited business backgrounds, notes a source.
Those we surveyed gave us several examples of case questions:
Estimate the market for pet food in Italy and the business planning/analysis
required to set up a local pet food shop.
What is the annual market for Christmas ornaments in the U.S.?
I have been approached to invest in a juice (i.e., Jamba Juice) company
looking to start up in X location. What factors should I consider before
making my decision? How many drinks would we have to sell in a day to
break even?
How would you calculate the break even point for an airline company?
How would you define the sales force model for a consumer goods
company?
Acing the interview

To succeed at case questions, ask questions, one source advises. Theyre
not going to give you free information. You have to ask the right questions.
And, if you think youre off, dont be afraid to take a step back. T heyll let
you know if youre totally off track. Chris Bierly, a Bain partner who
coordinates the firms North American recruiting efforts told the Boston
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Globe in February 2003, a candidates thoughtful questions at the end of an

interview are what recruiters are looking for. We dont care about a
candidates picking up on the nuances of our business. But we do care a lot
about an applicant being open and sincere, someone who tries to make
meaningful comments about our firm and what we do.
Bring a pencil and pad to the interview, and be sure to ask at least a couple of
your own questions during the case studies, insiders say. Thats because the
recruiters want consultants who will suss out the important information.
When youre structuring the case question, one source advises, think of
customers, cost and competitors.
Questions to Expect
1. Case Study:
Profitability problems are a mainstay of first round MBA-level interviews.
Questions take one of two forms: cost or revenue. No matter what the
situation, says one insider, either the cost is too high or the revenue (sales)
is too low. You have to know about fixed costs and variable growth. To
determine what the problem is, past interviewees suggest breaking down the
scenario. Ask questions, suggests one successful MBA applicant. What
are the costs like? What do they consist of? Compare those costs to the
market or average. Then ask, Whats the difference?
2. Case Study:
Distribution problems are also popular for business-savvy candidates. For
instance, Bain might want to know how a certain product is distributed in one
region of the U.S. I was given a small firm scenario, says a source. I was
told, There is a small firm with a few stores in New York City and one
warehouse in upstate New York. The firm has consistently shown strong
sales growth. It has kept its product costs in line. Sales are going up, but
profitability is down. I, as the interviewee, needed to find out why. By
asking questions, I determined the firm had grown so much that it now had
higher transportation costs. It was spending more on drivers, gas, tolls,
whatever thats why profitability was decreasing. The insider went on to
create possible solutions, such as opening up smaller warehouses in the areas
farthest from the companys manufacturing facilities.

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3. Guesstimate: How many gallons of white house paint are sold in the
U.S. each year?
To answer this question, you must first estimate how many houses there are
in the U.S., how often they get painted, how many gallons the average house
takes and on the average, what percentage are painted white.
4. Case Study: Our client, American Airlines, is losing money. Why?
The key here is to come up with every single reason why the airline might be
losing money excessive fuel or labor costs, a lousy economy, too many free
frequent flyer seats and anything else without losing your cool. Whatever
you do, dont freak out. A helpful way to structure your response is to
remember a frequent Bain approach to cases: focus on the 3 Cs. Again,
these are customers, cost and competitors. Exploring how each of the 3 Cs
impacts a case is a good way to proceed.
5. Case Study: You have inherited a start-up software company. How do
you estimate market size? On which fronts do you anticipate problems?
Here, the 3 Cs will once again come in handy.
6. General: Why are you interested in consulting? Why Bain in
particular?
Discuss Bains magnetic charms: global strategy, Orit, an amazing
consultant pool, an impeccable reputation, a strong client base and an
expansive alumni network.
7. Case Study: You are a large manufacturer of athletic shoes and you
have a $10 million budget. Your sales are slowing. How do you revitalize
the market? In your advertising efforts, which person would you hire for
promotional work: a superstar athlete or a local sports hero?
Although the more kindly, humanitarian pick would seem the local sports
hero, Bain is a business. As such, it is profit hungry and ravenous for results.
In this case, forget about doing the right thing, our insider reports. If a
Michael Jordan is going to earn the manufacturer big bucks as opposed to
Johnny Mulberry of Duxbury, Mass., Bain wants to hear you squash
grassroots sentiment and go for the mainstream dollar.
8. Case Study: You have been appointed the manager of a rental car
company. How do you measure its efficiency?
In this case, our insider said the key was to determine how many cars were
being rented at any given time. She suggests that a good place to start is with
the number of cars parked in the lot versus those that are presently rented. She
also says that one must understand the companys clientele. Business
travelers and leisure travelers tend to travel for different lengths of time.
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They also demand different types of vehicles (Lincoln Town cars versus
Dodge minivans, for example). Other significant factors include the
companys size, location, staff, history and plans for change. Once these
facts have been determined (or at least considered), the candidate is in a
much better position to suggest improvements in overall business
productivity.
9. Guesstimate: How many doorknobs are there in a 10-story residential
building, if you can assume that each story contains three apartments?
Youll need to do a little addition and multiplication for this one. Keep the
calculator at home. Bain is no traditionalist, but it does look at how well you
handle an old-fashioned No.-2 pencil.
10. General: Tell me about your past experience working in teams.
Heres your opportunity to show that although you are an autonomous and
independent thinker, you welcome the collaborative approach.
11. General: Tell me about how you overcame a challenge.
Discuss the attributes that helped you transcend a great obstacle (the same
attributes which, incidentally, would make you a terrific consultant).
12. General: What are the three best ideas youve had in the past five
years? Its always a good idea to stock a few top three lists in your
head: top three failings, top three descriptive adjectives, top three pivotal
experiences, etc.
Although you have to doubt the ultimate relevance of such questions,
interviewers are fond of asking them.
13. General: What are you most proud of on your resume?
Choose something you love to discuss, but that the interviewer hasnt
necessarily noticed. Try not to reveal a penchant for jello wrestling unless
you can somehow connect it to your shrewd business skills and an
irrepressible fondness for corporate travel.

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Getting Hired
Questions to Ask
1. Tell me about Bains training programs. How much continuing
training can I expect?
2. What kind of pro bono work does Bain do? What kind of projects do
Bainies work on outside of the office?
Bain prides itself on its community service, so this will be an exciting talking
point for interviewers. Ask about what the specific office youre interviewing
for works on; many have their own projects. Whats more, the most
successful Bainies often display a commitment to good deeds, especially
when these deeds are in some way related to the firm. Bains latest endeavor,
the Bridgespan Group, applies strategic consulting methodology to help nonprofit organizations achieve breakthrough results in performance. Finally,
keep in mind that if you are accepted into Bain, assume you will spend some
unofficial time working on the firms favorite extracurricular endeavor:
recruiting.
3. Will Bain pay for my business degree (assuming youre applying as an
associate consultant)?
4. What is the dual-case approach for consultants? At any given time, do
Bain consultants divide their time between two different cases? How do
your clients react to the division of energies?
Bain is proud of the fact that its staff members typically work on two cases at
once. In its literature, Bain asserts that employees will learn more quickly
from exposure to a cross-section of cases. Nevertheless, many consultants
and associate consultants complain that the dual load leads to a frantic, and
even masochistic, work pace.
5. What are Bains expansion plans, both on the domestic and the
international fronts?
The firm has always been ambitious in its plans for expansion. Express not
only an interest in its future offices, but also a willingness to do one of the
things Bainies do best travel between them.
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Compensation
Pay
Associate Consultant (1st year): $57,000 base. Signing bonus and
performance bonus.
Consultant (1st year): $105,000 and up per year salary (+ bonus and, often,
a signing bonus).
Perks
Subsidized day care
Paid maternity, paternity and adoption leave
Off-site training programs
Paid MBA tuition (not guaranteed)
Health insurance plan
401(k) plan

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Wondering what its like to

work at a specific employer?
M | A.T. Kearney | ABN Amro | AOL Time Warner | AT&T | AXA | Abbott Laboratorie
Accenture | Adobe Systems | Advanced Micro Devices | Agilent Technologies | Alco
c. | Allen & Overy | Allstate | Altria Group | American Airlines | American Electr
ower | American Express | American International Group | American Manageme
ystems | Apple Computer | Applied Materials | Apria Healthcare Group | AstraZenec
utomatic Data Processing | BDO Seidman | BP | Bain & Company | Bank One | Bank
merica | Bank of New York | Baxter | Bayer | BMW | Bear Stearns | BearingPoin
ellSouth | Berkshire Hathaway | Bertelsmann | Best Buy | Bloomberg | Boeing | Bo
llen | Borders | Boston Consulting Group | Bristol-Myers Squibb | Broadvie
ternational| Brown Brothers Harriman | Buck Consultants| CDI Corp.| CIBC Wor
Markets | CIGNA | CSX Corp| CVS Corporation | Campbell Soup Company| Cap Gem
rnst & Young| Capital One | Cargill| | Charles Schwab | ChevronTexaco Corp. | Chiqui
rands International | Chubb Group | Cisco Systems | Citigroup | Clear Channel | Cliffo
hance LLP | Clorox Company | Coca-Cola Company | Colgate-Palmolive | Comcas
omerica | Commerce BanCorp | Computer Associates | Computer Science
orporation | ConAgra | Conde Nast | Conseco | Continental Airlines | Corning
orporate Executive Board | Covington & Burling | Cox Communications | Credit Suis
rst Boston | D.E. Shaw | Davis Polk & Wardwell | Dean & Company | Dell Compute
eloitte & Touche | Deloitte Consulting | Delphi Corporation | Deutsche Bank | Dewe
allantine | DiamondCluster International | Digitas | Dimension Data | Dow Chemica
ow Jones | Dresdner Kleinwort Wasserstein | Duracell | Dynegy Inc. | EarthLink
astman Kodak | Eddie Bauer | Edgar, Dunn & Company | El Paso Corporation
ectronic Data Systems | Eli Lilly | Entergy Corporation | Enterprise Rent-A-Car | Ern
Young | Exxon Mobil | FCB Worldwide | Fannie Mae | FedEx Corporation | Feder
eserve Bank of New York | Fidelity Investments | First Data Corporation | FleetBosto
nancial | Ford Foundation | Ford Motor Company | GE Capital | Gabelli Ass
Management | Gallup Organization | Gannett Company | Gap Inc | Gartner | Gateway
enentech | General Electric Company | General Mills | General Motors | Genzyme
eorgia-Pacific | GlaxoSmithKline | Goldman Sachs | Goodyear Tire & Rubber | Gra
hornton LLP | Guardian Life Insurance | HCA | HSBC | Hale and Dorr | Halliburton
allmark | Hart InterCivic | Hartford Financial Services Group | Haverstick Consulting
earst Corporation | Hertz Corporation | Hewitt Associates | Hewlett-Packard | Hom
epot | Honeywell | Houlihan Lokey Howard & Zukin | Household International | IBM
KON Office Solutions | ITT Industries | Ingram Industries | Integral | Intel | Internation
aper Company | Interpublic Group of Companies | Intuit | Irwin Financial | J. Walt
hompson | J.C. Penney | J.P. Morgan Chase | Janney Montgomery Scott | Janu
apital | John Hancock Financial | Johnson & Johnson | Johnson Controls | KLA-Tenc
orporation | Kaiser Foundation Health Plan | Keane | Kellogg Company | Ketchum
imberly-Clark Corporation | King & Spalding | Kinkos | Kraft Foods | Kroger | Ku
almon Associates | L.E.K. Consulting | Latham & Watkins | Lazard | Lehman Brother
ockheed Martin | Logica | Lowes Companies | Lucent Technologies | MBI | MBNA
Manpower | Marakon Associates | Marathon Oil | Marriott | Mars & Company | McCan
rickson | McDermott, Will & Emery | McGraw-Hill | McKesson | McKinsey & Compan
Merck & Co. | Merrill Lynch | Metropolitan Life | Micron Technology | Microsoft | Mill
rewing | Monitor Group | Monsanto | Morgan Stanley | Motorola | NBC | Nestle | New
ubbermaid | Nortel Networks | Northrop Grumman | Northwestern Mutual Financ
etwork | Novell | OMelveny & Myers | Ogilvy & Mather | Oracle | Orrick, Herrington
utcliffe | PA Consulting | PNC Financial Services | PPG Industries | PRTM | PacifiCa
ealth Systems | PeopleSoft | PepsiCo | Pfizer
| Pillsbury Winthrop | Pitne
Go| Pharmacia
to www.vault.com
owes | Preston Gates & Ellis | PricewaterhouseCoopers | Principal Financial Group
rocter & Gamble Company | Proskauer Rose | Prudential Financial | Prudent
Read what EMPLOYEES have to say about:
Workplace culture
Compensation
Hours
Diversity
Hiring process
Read employer surveys on

THOUSANDS of top employers.
Bain & Company
On the Job
Day in the Life
Associate consultant (office day)
8:40 a.m.: Get into work, say hello to incoming employees. (At the
consultant level everyone is congenial and talkative. The office environment
lends itself to a healthy mix of work and fun.)
9:00 a.m.: Meet with team to allocate assignments on current engagement.
10:00 a.m.: Head to the library (Bain is very research-oriented. I cant think
of another firm that has such quality resources at its disposal.)
1:00 p.m.: Take a break for a quick lunch. (Lean Cuisine in the
microwave.)
1:30 p.m.: Finish whatever possible in library. Ask research assistant for
some research.
2:00 p.m.: Head across town to interview some of the clients customers
6:00 p.m.: Return to Bain office and compile results.
7:30 p.m.: Make some last-minute phone calls and return e-mail from vicepresident assigned to team.
8:00 p.m.: Head out for cocktails (Straight scotch, thank you.)
Associate consultant (travel day)

5:40 a.m.: Get up to finish last nights packing.
6:30 a.m. Grab a taxi and head to the airport, suitcase in tow.
8:30 a.m.: Review client notes on the plane.
11:00 a.m.: Arrive at client site, check into hotel.
12:00 p.m.: Grab some lunch with other team members (On the road, the
time with your team is intense. You learn how to work with each person in a
diplomatic way. And if you cant, you learn to cope.)
1:30 p.m.:
meeting.
Organize and finalize presentation materials for a late-day

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4:00 p.m.: Meet with clients and make presentation.

6:00 p.m.: Meet with team for post-presentation feedback and discussion;
discuss tomorrows agenda.
8:15 p.m.: Eat dinner with team. (The tab is always on the company when
it comes to team dinners.)
10:00 p.m.: Retire to hotel room, call husband and set alarm for tomorrow.
Consultant
9:00 a.m.: Arrive at work and check e-mail, The Daily News and voice mail.
(I often have upwards of 20 e-mails waiting for me each morning-clients,
client affiliates, upper-level managers with questions, team members wanting
to discuss new data analysis, the list goes on ...)
9:30 a.m.: Review notes on a software company on the West Coast.
11:30 a.m.: Return client calls; start creating spreadsheets.
1:15 p.m.: Break for lunch with two co-workers.
2:15 p.m.: Call manager of a large company to obtain client-related industry
information.
4:00 p.m.: Begin work on client case No. 2, a cable company in New
England.
6:00 p.m.: Eat a non-nutritional snack. (My favorites include Twinkies and
pretzels.)
6:15 p.m.: Check e-mail again; finish the spreadsheets started earlier that
day.
6:30 p.m.: Meet with research team to determine what is needed for an
upcoming presentation.
10:00 p.m.: Call it a day and head out the door. (The day of a consultant
necessarily extends into the night. And the long hours encroach upon family
life.)
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Job Descriptions
Associate consultants
Associate consultants (the analyst position at most consulting firms) are
recruited during the senior year of college (or after a non-business masters
program). They are typically responsible for identifying information sources;
interviewing a clients customers, competitors, suppliers and employees;
gathering and interpreting data; and presenting findings to team members.
Like regular consultants, associate consultants are staffed on two projects
simultaneously.
As an associate consultant, you will:
interview client-related employees, customers and competitors.
perform research in Bain libraries.
make presentations to engagement teams.
write summaries and memos of findings.
discuss client-related research with team.
help organize presentations for clients.
assist in the identification of future trends in a clients industry.
meet frequently with consultants and other associates.
be involved in recruiting and pro bono work for Bain.
Consultants
Consultants at Bain gather data in the field, analyze their findings, make
client presentations, and work directly with clients to implement
recommendations. After being hired, they are placed on two client case teams,
ostensibly to help them gain as much experience as possible (although many
consultants complain that their dual work assignments keep them working
efficiently on any one case).
As a consultant you will:
travel to interview client customers and get on-site opinions.
write analyses of client industry strategy.
ensure team recommendations are in place.
read and summarize client-related articles.
clarify and refine research.
discuss research findings with team.
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On the Job
organize presentations for clients.

identify future trends in clients industry.
meet frequently with team leaders.
be involved in recruiting and pro bono work for Bain.
Summer program
Bains summer internship program receives rave reviews from participants.
Reports one insider, Bain manages the summer program extremely well.
Interns are given meaningful pieces of work and all the support required to
have a rewarding, productive experience. Another Bainie says, My summer
internship provided me with an excellent insight into the work as a consultant
at Bain & Company. I was doing work comparable to that of being a starter
already and was also with the team on the client site. Bain tries to provide a
real case experience for three months to get a taste for the work and then
fun time to get to know the people, the culture, etc. Another participant
gives us the lowdown: The summer involves one case and a whole lot of
socializing. Spend the first week training in Cape Cod, then during the
summer go rafting in Maine, summer meeting in New Hampshire, baseball
games, dinners to get to know everyone at different levels in the office. Its
pretty great. The case experience is real with a real piece of work, but there
is a heavy emphasis on the fun part. Another former intern says, I had a
true consulting experience. I had significant client contact, I owned a
discrete workstream on the case and I interacted with both partners and
managers on the case. I also had a great social experience where I participated
in a lot of different activities and met people at all levels of the company.
For those entering their senior year in college, Bain also offers unique and
meaningful associate consultant internships. While not quite unheard of in
the field, such internships are unusual among top consultancies, who prefer to
mine the mental resources of MBAs. Undergraduate interns learn basic
business skills such as financial statement analysis and cost accounting; they
are mentored by associate consultants.
For undergraduates
To become an associate consultant, or AC, one must graduate from a leading
college or university and possess remarkable academic credentials, strong
analytical skills and almost superhuman motivation. (ACs spend many a late
hour in the Bain office.) Associate consultants work as members of a case
team in roles that vary according to individual performance levels and general
team objectives. As an associate consultant gains more experience, she will
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be given more responsibility, including the opportunity to create client

presentations, perform financial analysis and serve on various in-office task
forces. Associate consultants are placed on two cases at one time, which can
mean exposure to many different industries and thought processes, but also
can increase workload and travel. In some cases, however, working for two
clients cuts down on travel, as clients know the associate consultant has to
meet the demands of another client.
To help prepare employees for these new endeavors, Bain offers rigorous and
frequent on-the-job training programs. Within their first few months, new
Bain associates can also expect off-site training, often in exotic locales. These
getaways serve a double purpose: Bainies gain analytical and business skills,
but perhaps more importantly, they interact with other newly hired associates.
Considering the strength of Bains existing alumni network, it is not
surprising that the firm encourages close bonds between fellow employees.
New recruits at Bain shouldnt get too comfortable. Associates typically stay
at the company for two or three years. Staying for four is extremely unusual.
To return to the firm, youll need an MBA, which Bain may or may not pay
for, depending on how enthusiastic they are about you. Very few people
make it to manager without an MBA, remarks one insider. However, with an
MBA in tow, returning consultants can quickly climb the ranks to become
case team managers and even vice presidents. The Bain advancement track
almost always includes large doses of client management and business
development.
For MBAs
MBAs join Bain as consultants and immediately join client case teams and
become involved in the creation and implementation of strategic
recommendations. Case team managers and vice presidents lead formal
training programs that are meant to expand upon business school training as
well as to offer practical experience. Like ACs, consultants work on two cases
at one time. This approach offers exposure to a cross section of industries and
people, but it can also overburden time-strapped newcomers. Those who
endure usually acquire the training and experience to become case team
leaders. Consultants who meet Bains stringent standards and who arent
shown the door after two years can expect to move up to case team leader and
then to vice president fairly quickly. Vice presidents have the opportunity to
develop new business relationships or even to open regional offices. In its
official literature, Bain professes to be looking for MBAs from the most

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highly rated business schools who possess a high level of energy and the
desire to effect change.
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Final Analysis
If you ask anyone savvy about the consulting industry what firms are at the
top of the heap, theyll most likely answer McKinsey, BCG-and Bain. Bain
may be the smallest of the big three, but it doesnt take a backseat in
profitability or prestige to any other firm. Bain deals with the most
intellectual strategizing and determined implementation, working with top
management at some of the worlds leading firms. It takes talent, brains and
determination to enter the charmed circle of Bain-and maybe a little bit of
luck. The firm at times seems more like a (co-ed) fraternity than a company.
If youre looking for an elite, entrepreneurial, and highly selective firm that
offers limitless opportunity, you should look closely at Bain & Co.
But be aware that the consulting industry may be on the verge of radical
change. Traditional management consulting firms like Bain, which have
focused on the big picture approach, may become a thing of the past. With
every down cycle in the economy, doomsayers have always predicted the
demise of the consultants, but there are compelling arguments that this time
they may be at least partially correct. The industry has always been able to
sell big ideas, from the product portfolio matrix and the experience curve
in the 1960s to the more recent concept of reengineering. Now the
consulting industry appears adrift, unable to formulate the next big idea.
Further, it is trending increasingly toward the implementation of technology
and away from pure-play strategy. In 2000 it was estimated that 57 percent of
the U.S. consulting market was devoted to IT services, with that number
expected to grow to 70 percent by 2004. Traditional consulting firms now
find themselves squeezed from two sides. The large technology
implementation firms like Accenture, EDS, and IBM Business Innovation
Services are encroaching on their turf, while at the same time many former
clients are establishing in-house strategy teams-often staffed by raiding
consulting firms. Smaller technology-oriented firms that thrived during the
dot-com bubble and managed to survive when it burst, are also looking to
leverage their technical expertise to offer strategic advice to clients.
Moreover, the days of open-ended projects, in which swarms of consultants
roamed in the belly of the corporate beast and emerged months, sometimes
years, later with brilliant insights and grand schemes to pursue are essentially
over. Many former clients who felt they had been burned by consultants in the
past now keep a tight rein. They bring in consultants to accomplish specific
projects in a certain timeframe, to either save them money or make them
money. Clients are also keeping a tight rein on consultancy fees because of

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Final Analysis
the poor economy; they are demanding and receiving discounts from
consultants.
Where will all of this lead? Traditional consulting firms, in the words of
Fortune, still house enormous talent and a wealth of knowledge about how
successful businesses operate. But their future will look very different. Many
people believe that they are going to get a lot smaller. Their partners may
splinter off into several smaller boutique firms. Or they may merge was an IT
outfit to gain tech expertise and access to new markets. (Indeed, rumors
were floating earlier this year that IBM had an eye on Bain.) Bain insists that
business remains strong and that it has no intention of dropping its generalist
approach, but the firm has already made some concessions to changing timesthe new IT group is one such change.
Bains web site provides information on virtually every aspect of the
company. The site, www.bain.com, is a pathway to recruiting and career
advancement, personal profiles and on-the-job insights, recommended
reading and whats coming to the firms global network and its office
branches.
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Recommended Reading
50 Smartest Women in the Money Business (and what you can learn from
them), Money.com, May 1, 2000. A short profile of Bain chair Orit Gadiesh.
Kleiner Courts the Old Economy, TheStandard.com, April 10, 2000. How
Bain came to partner with one of the biggest names in the Internet economy
to form eVolution Global Partners.
Test-Tube Startup, Forbes, February 7, 2000. Discussion of Bainlabs first
Weblet, a startup called Ideaforest.
A Man of Words is Still Partial to One: Loyalty, The New York Times,
December 29, 1999. Profile of Bain partner Frederick Reichheld.
Businesses Get Into the Spirit of 2012 Olympic Bid, The Dallas Morning
News, October 23, 1999. How Bain is helping Dallas compete for the 2012
Olympics.
Chris Zook, Beyond the Core and Profit From the Core. Popular books by a
respected Bain consultant.

CAREER
LIBRARY
47
For those hoping to climb the ladder of success, Vaults

insights are priceless. Money
VAULT EMPLOYER PROFILE:
BAIN & COMPANY

Vault Employer Profiles include:
THE VAULT EDITORIAL PROCESS
Introduction: An overview of the

company and basic stats
Exclusive Surveys: Vault annually

surveys tens of thousands of
employees at leading employers.
The Scoop: The companys history,

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rankings in the industry
Vault
Newswire:
Easy-to-digest
summaries of recent news about the
company
Our Survey Says: Employees speak
their minds on company culture, job
satisfaction, pay, benefits, diversity
issues and more
Getting Hired: The companys hiring
process, interview questions to expect
and application contacts
On the Job: Typical days in the life,
job descriptions, career paths
Final Analysis: The final word on the
pros and cons of working for the
company
One-on-One Interviews: For each

employer, we conduct in-depth
interviews of current and former
employees.
VAULT CONSULTING CAREER CHANNEL
Insider firm profiles

Consulting interview preparation
The Vault Consulting Job Board
Advice on career-switching, job-hunting
and more
Employee message boards
Finance resume and cover letter reviews
WWW.VAULT.COM/CONSULTING
VAULT CAREER LIBRARYTM is the worlds most comprehensive and up-to-date

collection of guidebooks on career subjects. Researched, written and published
by Vault, Inc., the Vault Career LibraryTM is comprised of more than 80 titles for
job seekers, professionals and researchers.
ABOUT VAULT, INC.:
VaultTM is the leading media company for career information. Called a killer app by the New
York Times, Vault is headquartered in New York City and was founded in 1997 by Hussam
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Consulting/Career/Reference
$24.95

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EMPLOY

BY THE STAFF OF VAULT

2004 Vault Inc.

Copyright 2004 by Vault Inc. All rights reserved.

Bain & Company

CEOs Bio . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11

OUR SURVEY SAYS

The Hiring Process . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .31

Visit the Vault Consulting Career Channel at www..vault.com/consulting with

A Day in the Life . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .39

2003 Vault Inc.

Bain & Company

Visit the Vault Consulting Career Channel at www..vault.com/consulting

Bain & Company at a Glance

Great access to clients

WHAT EMPLOYEES AT OTHER FIRMS ARE SAYING

Core Process Redesign

2004 Vault Inc.

Bain & Company

Visit the Vault Consulting Career Channel at www..vault.com/consulting

Bain & Company

2004 Vault Inc.

Bain & Company

The partners werent entitled to a specific portion of the companys income;

Bain & Company

Little Big Three

2004 Vault Inc.

Bain & Company

Up, up and away

Bain & Company

Management, Complexity Reduction, Cost Reduction, Cycle Time

Law and litigation

2004 Vault Inc.

Bain & Company

The client roster

The publishing world

Bain & Company

2004 Vault Inc.

Bain & Company

Visit the Vault Consulting Career Channel at www..vault.com/consulting

Bain & Company

2004 Vault Inc.

Bain & Company

Visit the Vault Consulting Career Channel at www.vault.com/consulting

How many consulting

Vault Consulting Job Board

VaultMatch Resume Database

Bain & Company

July 2004: Bain Capital investment IPOs

March 2004: Ex-Bainie becomes Dell CEO

February 2004: Bain publishes widely-watched

November 2003: Bain hiring set to increase

May 2003: Romneys use of Bain hits the fan

Visit the Vault Consulting Career Channel at www..vault.com/consulting

Bain & Company

February 2003: Bain Capital Buys European

February 2003: Club Med matter dropped

January 2003: Bain profit hunters hit the

November 2002: Romney named

August 2002: BainNet adds two new members

March 2001: Former Bain Capital partner

2004 Vault Inc.

Bain & Company