When it comes to choosing an employer, there is no question that prestige is important. However, Vault's survey data indicates time and again that many other factors come into play when weighing a choice—and even more that affect employee satisfaction in the months and years after the decision has been made.
Did you know that for 43% of consulting firm candidates, firm culture was the most important factor in selecting an employer? Other top factors include practice strength and work-life balance, in addition to prestige and compensation.
But choosing an employer is only part of the equation—staying there over a period of time is something else entirely. And while elements like firm culture, compensation and work-life balance remain important as part of that picture, other factors such as satisfaction and the ability to make career progress also emerge as critical differentiators of top employers.
In order to properly reflect a company's status as an employer within the consulting industry, the Vault Top IT Consulting ranking is based on the following weighted formula:
30 percent prestige
15 percent satisfaction
15 percent firm culture
15 percent compensation
10 percent work-life balance
10 percent overall business outlook
5 percent promotion policies
15 percent satisfaction
15 percent firm culture
15 percent compensation
10 percent work-life balance
10 percent overall business outlook
5 percent promotion policies
As ever, Vault's survey is only open to consultants who are currently employed at reputable firms in the industry. When rating quality of life issues, consultants are only permitted to rate their own firm. For prestige and practice area rankings, however, consultants are only allowed to rate competitors, and NOT their own firms.
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