Vault’s Verdict
As a leading firm in its life sciences niche, Putnam is a compelling choice for any consultant who combines a scientific or medical background with business acumen. Insiders note that the firm has a strong business outlook, staying resilient and growing even amidst difficult economic headwinds for the life sciences consulting field.
Another aspect of Putnam that its consultants can’t talk enough about is its warm, nurturing, and accepting culture. Insiders love the firm’s authentic commitment to DEI, as well as its commitment to taking care of its employees' mental and physical health by going out of its way to protect their work-life balance.
In terms of compensation, Putnam may start slow, but the pay ramps up quickly. Its employees love that its bonuses are all but guaranteed, and they laud the firm’s quick promotion timelines—which it makes even more attainable through its strong mentoring and feedback culture. If you’re interested in specializing in life sciences consulting and looking for a long-term home, you should definitely take a look at Putnam.
Employee Reviews
Firm Culture
“People come for the work but stay for the people and culture. Putnam is very inclusive and welcoming.”
“There is a real culture of learning at Putnam. It’s one of the things we do best. All of our senior project team members have an expectation and a desire to teach our junior team members new skills and frameworks for strategic thinking.”
“The firm offers great flexibility in how and when we work, provided that we are delivering excellent work for our clients and collaborating closely with internal team members.”
“We have a culture of prioritizing mental and physical health. I’ve been on multiple projects where client demands would have caused overwork on the team, and Putnam’s partners and managers stepped up to protect the team’s time and health. This is the rule, not the exception.”
Quality of Life
“With no travel, two days per week in office, and an understanding work-from-home culture, there's none of the ‘wasted time’ that my friend at other firms complain about. Putnam also respects mental and physical health. I have time and energy to make it to the gym 90% percent of workdays and there is a strict culture of no work on weekends.”
“People at Putnam work hard when they are in-office and on casework. However, when on PTO, there is a strong culture of respecting both employee's ability to take time off and disconnect during that time off.”
“There is a real emphasis on making time for life events. This is consulting and it's more than a nine-to-five. However, I also know that if I want to take a few hours in the afternoon to watch my daughter's soccer game, Putnam not will not only support it but celebrate it.”
“In general, managers and supervisors are extremely understanding and supportive of having a life outside of the office and do their best to manage projects efficiently so as to give everyone the work-life balance they deserve.”
Career Development
“Putnam is a growing firm and if you apply yourself, it's possible to go all the way from a first-year associate to partner in eight or nine years. There is no barrier to promotion for not having an MBA. My income has quadrupled in my six years at the firm.”
“I think the firm's size enables a great mix where there is enough size to support substantial formal training resources, while still being small enough that there is excellent opportunity for direct mentorship from partners/leadership all over the firm.”
“Promotion timelines are very quick and there are a lot of mentorship opportunities. New hire trainings are in the process of being updated but are on the right track.”
“I feel that the performance review process is fair and robust, with HR putting in substantial time to ensure they evaluate you individually and give you constructive feedback.”
Compensation
“Our compensation seems on par with similar firms, and we receive substantial bonuses that are essentially guaranteed.”
“The compensation grows exponentially as you progress. At 28 years old I was able to buy a $1M home without financial stress, with a very healthy margin on my downpayment and monthly mortgage.”
“The salary could be stronger for associate level individuals. The change upon promotion to the consultant level is somewhat drastic.”
“My favorite perk is that you can expense dinner if you work more than 11 hours in a day, which is such a great treat every time I utilize it.”
Community Engagement/DEI
“There is a new "DEI fellow" chosen every 6 months who has 50 percent of their time fully dedicated to leading DEI within the company. DEI has been discussed and prioritized in every firmwide meeting I can remember. The various affinity groups allow everyone to feel included.”
“DEI is a priority at Putnam. The firm is pushing to make sure that recruiting efforts are focused at a variety of institutions. There is limited diversity in senior management, but leadership is aware and is working to change that.”
“I also appreciate that Putnam has various affinity groups, which provide opportunities to meet like-minded individuals that identify as part of these groups, talk about your opportunities and experiences, and just ensure they everyone has as great an experience as possible within the firm.”
“They provide a monthly wellness benefit that can be put towards a gym membership, gym equipment, workout classes, and a membership to a meditation platform. We also recently were all able to attend a workout class together, which was a great opportunity to destress and spend some time with coworkers outside of the office.”
Business Outlook
“Putnam is positioned to succeed due to its strong leadership team, who are experienced navigating the ups and downs of economic climates. They continue to push the firm forward even when times are good and it would be easy to get comfortable.”
“Putnam has weathered a down market in the life sciences consulting very well. We are growing and expect to grow much more in 2025 and beyond.”
“The internal efforts to leverage AI are way more than just hype--I've been blown away by how our custom tools have been increasing the speed and quality of work, as well as making doing the work more enjoyable.”
“We have very high client demand, with many new clients getting referred from longstanding clients.”
Hiring Process
“The hiring process felt very rigorous and fair, while also being inviting and allowing me to show who I am as an individual.”
“The interview process consists of multiple rounds of case interviews. The final round is a multi-interview ‘super day’ format. We turn around our feedback relatively quickly and the hiring team likes to keep candidates informed about their status in the process.”
“We’re seeking candidates with diverse backgrounds who are scientifically or commercially oriented.”
“The ideal candidate thrives in a team environment, has a sharp analytical mindset, and loves learning.”
Interview Questions
“Case questions come from real Putnam projects in the pharma industry. The more you already know, the better off you'll be. In my own interview, even though the specifics were anonymized, I still recognized the case as a drug that had made international news.”
“We usually do cases on drug pricing, patient market sizing, revenue or profit projections, generally cases along those lines.”
“Please size the hypothetical market for a new pharmaceutical drug. Please evaluate the likelihood of success for a hypothetical new pharmaceutical drug.”
“How would you code a program to process continuous health insurance enrollment in the U.S. market?”
501 Boylston Street
Floor 5
Boston, MA 02116
Phone: (617) 456-5200
Employer Type: Private
CEO: Remco op den Kelder
Chief Operating Officer: Matt Riordan
Global VPA Practice Lead, Partner: Eric Auger
2024 Employees (All Locations): 400
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San Francisco, CA
New York, NY
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