A Day in the Life of a Consultant at Major Management Firms: BCG, Bain, Oliver Wyman

For many aspiring consultants, the image of working at a prestigious firm like Boston Consulting Group (BCG), Bain Company, or Oliver Wyman often conjures up intense days filled with meetings, data analysis, and long hours of project work. But what does a typical day actually look like in one of these renowned firms, and how does their daily grind differ from the stereotype?

Typical Activities and Time Contribution

Let's break down the typical activities and time contribution for a consultant, which can vary significantly over the course of a month or a quarter.

Project Work (70-90%)

Client calls and meetings Workshops and analysis sessions Data collection and review Excel and data stuff Documenting work and preparing deliverables and presentations Status reporting

Sales Activities (10-20%)

Preparation and delivery of proposals and presentations Offer development

Development (5-10%)

Trainings and self-study

Travel and Administration (5-10%)

Industry-specific calls Commuting and local practice and personal administrative tasks

Illustrative Example

Let me share an anecdote to illustrate the flexibility and adaptability required in this role. On a certain day, I had a demanding schedule with a meeting to convene all department heads. However, once panic set in, I swiftly canceled the meeting, opting to reschedule it for a week later. This example demonstrates the importance of being proactive and adaptable in such a fast-paced environment.

The Basic Functions of a Consultant

Now, let's delve into the fundamental tasks that consultants perform, whether they are on a traditional consulting engagement or advancing in the firm.

Facts Finding and Analysis

Reviewing documents and conducting interviews in person, by phone, or electronically Performing qualitative and quantitative data analysis Identifying opportunities for improvement across various domains such as organizational strategy, management systems, information systems, processes, policies, procedures, and human resources

Developing and Implementing Solutions

Developing options to address improvement opportunities Developing recommendations for improvement Facilitating client-consultant work groups to review findings, explore options, and select preferred solutions Developing implementation plans Assisting clients in implementing selected recommendations Managing client engagements and maintaining client relationships

Proposals and Client Development

Preparing and presenting client proposals for new business Selling extensions and new business

A Day in the Life

Despite the variations, a typical day for a consultant primarily revolves around project work, client interactions, and sales efforts. Here’s a more detailed view:

8:00 AM - Breakfast and planning for the day 8:30 AM - Joining a morning meeting with the client team 9:30 AM - Conducting an interview with a key client 11:00 AM - Analyzing data and preparing reports 12:30 PM - Lunch break and personal administrative tasks 1:30 PM - Attending a workshop to present findings 3:00 PM - Reviewing proposals and preparing a report 5:00 PM - Consulting with the team on implementation strategies 6:00 PM - Client site visit for meeting 8:00 PM - Travel back to the office 9:00 PM - Documenting the day's activities and preparations for the next day 10:30 PM - Exit for the day

Flexibility and adaptability are key, as consultants must be ready to handle last-minute changes or emergencies. These firms are designed to be challenging but rewarding environments, offering continuous learning and growth opportunities.

Conclusion

The life of a consultant in a major management firm like BCG, Bain, or Oliver Wyman is not just about working long hours or conducting intense analyses. It's a dynamic mix of client engagement, data analysis, innovative solutions, and strategic planning. By understanding the typical day and functions of a consultant, potential and existing consultants can better prepare for this exciting and challenging career path.