BCG 🐠 - Are you really as happy as Glassdoor reviews claim? How bad is the ā€œup or outā€ culture? What makes you want to stay for 2+ years? Do you ever want to be in industry?

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I can’t speak for everyone, but I’m very happy. Really engaging work, great people, good benefits. I didn’t really feel the up or out culture honestly. I think by the time you reach the 1.5 year mark a lot of those that would be counseled out are also realizing the job isn’t for them, so it’s not an uber competitive atmosphere. I stay because of the reasons I outlined above and because I’m constantly learning and growing. If I reach a point where I’m not growing, don’t feel like the work is engaging, or the travel gets to me, I would consider a start up.

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I am.. usually. Obviously everyone's experience is different. Generally agree with the above and will focus on 1 aspect of your question. Why do people think up or out is bad? I think it's overwhelmingly good.

- You can't get stuck at a level
- Related, managers aren't at their level because they've risen to the level of their own incompetence
- It removes stigma about leaving or being counseled out as both are common, even modal, outcomes
- it creates room for new starters to grow. Promo windows are predictable... and fast. No one ahead of your has to die.
- Lots of focus on skill development; lots of opportunity to show your stuff early as assessment for the next promo starts... now

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Hmmm. Tough to say how to build. If you’re coming in with experience then may have via work exp. coming in as a principal is tough. General firm philosophy for senior laterals is that they should be helping to build a new practice area that will build opps for others vs taking a spot of someone more junior. So would have to be more of a white space or newer practice area (ex PE stuff over past year or so). Or if you’re bringing a specific capability / skill set

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For sure. Also said they needed to be doing well - some folks will always struggle (despite being super smart) because the role / way of thinking / and sometimes shorty circumstances result in less than great performance. But haven’t seen someone that was thought to be doing well asked to leave because there wasn’t a spot

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EY OP - for me, I think the way of thinking comes down to a couple of things. Comfort with ambiguity and being able to problem solve in really short periods of time in nebulous situations. Finding balance between doing something super brilliant but time consuming and being practical. Getting comfortable having a defined point of view early on on an issue. Then there’s being comfortable in client facing roles and tram settings. Lots of stuff goes into it beyond just pure smarts

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Agreed. Have been here 5 years and really enjoy it. People are great (smart, fun, and really thoughtful wrt each other). Great work on interesting topics. As you get more senior you can steer to areas that interest you more. Also really enjoy taking on leadership roles in the firm (recruiting, advising, etc). Have started doing sales now and find the change has kept the job interesting and def presents a new challenge. Was able to break up the experience with some time abroad. Overall great experience and echo B2s thoughts on up or out

For me it's a yes. I am very happy at the firm and can totally understand why we are consistently among top firms to work for. I am 1.5 years in and do like the up or out policy - This culture hasn't affected me at all as I notice it very little on a day to day basis. It is not like I am vying for attention or trying to one up my peer on the team. Instead I am incentivized for being a team player and a good role model. I will stay beyond 2 years as long as I feel there is more to learn and my personal life allows for it. I may move to the industry at the Principal level as I am not sure yet whether I have the skills required of a partner. If and when I move, I will choose a tech startup that offers similar learning, rush, culture, people and growth

I’d say other thing to note is that up or out hasn’t felt like a big deal given we’ve been growing like crazy so if you’re doing well and want to stay, you can. Not sure what it would be like if there was a downturn and expansion slows with fewer slots up top, but as long as I’ve been here this hasn’t been an issue

^ this is probably a bit rosy. Definitely have been people coached out that might have wanted to stay.

(1) On average, how long does it take for someone to be counseled our, (2)@BCG3 - You mentioned framework of thinking as being a key attribute for succeeding. Could you elaborate on the difference between the mind frameworks of those who keep moving up versus those who get counseled our?

Should be counseled out not our* :)

Average isn't a super meaningful metric here. A partner with 30 years + 15 A/Cs counseled out at 2 years = 3.75 year average. Maybe 60% of new Cs end up as PLs.

I will say that the median consultant is a freshly promoted PL. Roughly, the number of As + Cs = PL + Pr + Partners.

Anecdotally, about 50% of attrition is voluntary and 50% is directive. There's a pretty fine line between those though.

*Team settings

That makes sense. For those coming from non-traditional strategy firms or MBB, what would be the best way to real build the skills to quickly problem solve in short periods in nebulous situations?

Bcg fishes does anyone join at Principal level?

^^Like your response BCG3 :)

BCG 🐠 - Would like to exchange emails and get some advice. Would you be willing to share your burners?

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