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L.E.K. Consulting
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Vault’s Verdict

L.E.K. stands out for its high-impact work, offering early responsibility for entry-level consultants, as well as a culture of intellectual stimulation and strategy-focused projects. With its no-travel policy and rapid case cycles, the firm provides a blend of intense professional experience while allowing consultants to maintain a home base.

Long hours are all but unavoidable in consulting, and L.E.K is no exception, with insiders noting  that some projects requiring intense commitment and late nights. However, the firm strives to protect personal time, with policies like 'out by six'. It also compensates consultants for all that time, with strong packages, including profit-sharing.

 

Employee Reviews

Firm Culture

  • “Ability to go deep into markets/projects in a relatively short period of time using robust analytical frameworks.”
  • “Consulting hours are long across industry but with L.E.K. you get to sleep in your bed every day and work with equally important clients.”
  • “Fast-paced culture with intellectually stimulating and impactful strategy projects.”
  • “L.E.K.'s differentiators include our shorter-than-average projects, our limited travel requirements, our SWAP program, and MBA sponsorship.”
  • “The lack of internal competition sets us apart from competitors. Relationships between coworkers are supportive and collaborative, not competitive.”

Quality of Life

  • “Genuine respect and admiration for one another; policies including 'out by six' encourage team members to carve out and protect personal time, which enables project workplans to build around those priorities.”
  • “L.E.K does not usually have travel requirements, which makes it easier on quality of life. However, due to the challenging nature of diligence work, working hours are worse compared to other strategy consulting firms.”
  • “The firm does a good job of protecting Thursday and Friday evenings for junior employees. People above the consultant level (post-MBA) rarely have a weeknight off."
  • “We serve international clients and need to be flexible at times to work early or late to support global needs.  We have a unique opportunity for strong players with tenure to work remotely, and that is a key differentiator, especially for those with specific needs (family or other).”

Career Development

  • “Amazing mentoring in the beginning. Also very easy to switch between industries early on and get a great feel for an industry before declaring. L.E.K. does a great job of easing new hires into their role while at the same time making sure they're constantly developing new skills and taking more and more ownership as they get comfortable.”
  • “Clear, metrics-driven promotion process that is very transparent for junior levels. L.E.K. has put in effort to revamping many of its training curriculums this year to make them more relevant and useful.”
  • “High performers are recognized, rewarded, and appreciated. On top of formal DEI initiatives from the firm, employees are also encouraged to add onto these at a ‘grassroots’ level with individual office events and efforts. The firm is entrepreneurial yet supportive of its employees.”
  • “Our L&D program is only just starting to get the investment it needs to be successful. A lot has improved since it has been professionalized over the past couple of years, but it still is not quite fit for purpose. There is an ethos that you learn on the job, which is true, but you don't have to be teaching yourself key software workflows on the job.”
  • “The set promotional timeline for years 1-3 eliminates competition between associates, creating a more collaborative and social environment.”

Compensation

  • “A large part of compensation is profit-share, which is highly dependent on how the business as a whole is doing (which you do not have control over).”
  • “Great pay & bonuses for MBAs. But wish that a portion of the starting bonus could be a signing bonus for those who have to move across the country or sign within a certain timeframe.”
  • “I think that the salary progression is good with a yearly promotion. I think that the performance bonus is weird though with consultants only able to receive half of the total performance bonus for ‘Meeting expectations’ in their performance reviews. Even those who ‘exceed expectations’ do not get the full performance bonus unless they consistently far exceed, which is very difficult to do. Other than that, the base and the end-of-year bonus are good. The medical insurance is fantastic, as well as their paternity leave.”
  • “Rapid promotion progression leads to attractive compensation gains with tenure and experience. A firmwide profit-sharing program provides additional compensation in years with high growth. Fully paid, industry-leading maternity and paternity leave policies.”
  • “There are several great aspects of L.E.K.'s comp package, which is generally very competitive.  For consulting staff, they get to participate in worldwide profit share, which provides a nice upside that doesn't exist at many other firms. For Partners, the combination of base + bonus + annual dividend from equity holdings is extremely attractive relative to peer firms.”

Community Engagement

  • “A lot of ERGs, a good amount of events and funding that goes toward them.  Definitely feel like this is a merit-based firm; if anything, ambitious, diverse employees may get a slight leg up in terms of promotion and opportunities.”
  • “I am a minority and feel firm provides equal access to all individuals. L.E.K. promotes inclusion via various affinity groups (Vets, LGBTQ+, Black, Hispanic, Women, etc.) that promote culture within the offices and sponsor events and learning opportunities for the rest of the firm.”
  • “L.E.K. often has LGBTQ+ events around the office. They highlight diversity and have programs to connect women in the workplace. I feel that all consultants have equal access to interesting/high-quality work and promotion opportunities.”
  • “The firm is transparent that our diversity numbers are not where we would ideally like them, and leadership has implemented aggressive 5-year goals to strive towards. We have made the most improvements during my tenure with regard to female representation at the partner level, with more work needed on URMs. Our recruiting team has improved our diversity recruiting efforts over the past few years by creating a series of summer workshops for incoming MBAs, broadening our target school to include historically Black colleges, and participating in a variety of industry conferences (e.g., Forte).”
  • “We have formal DE&I policies and several employee-led affinity groups. I am confident that consultants at L.E.K. have equal access to interesting/high-quality work and promotion opportunities regardless of sex, color, class, or creed.”

Business Outlook

  • “2023 was a down year. There is a lot of pent-up demand for the types of engagements we are good at. I expect 2024 will be a very busy year for us.’”
  • “Confident and competent leadership who provide honest, transparent business updates. The economic outlook is the biggest challenge facing the firm, particularly the high-interest rates which have limited the ability for our clients to access and deploy capital.”
  • “I think innovation around embracing AI and big data are going to be highly differentiating in the mid-term. We're really underperforming there. We do, however, have incredibly strong operational performance and are more resilient than other firms to economic downturns, so the near term is bright.”
  • “Our work has been somewhat impacted by the economic downturn, but I think we are well-positioned to succeed and grow when conditions improve. Morale is high within the firm. I do think other firms are more progressive in their use of technology (i.e., generative AI).”
  • “Tremendous growth track record. Proven ability to retain staff during recessions, which always enables us to gain market share on the other side of a recession.”

Hiring Process

  • “Two rounds of interviews with two interviews each for associate level (post-undergrad). In the 2nd round of post-advanced degree/MBA hire interviews, there are three interviews. All interviews include some case portions and some behavioral ones. From the start of the first interview to the decision may take in the range of ~1 month. The ideal candidate for L.E.K. is someone who is humble, can learn from mistakes/others, and can drive deep into complex data to develop key insights.”
  • “Callbacks are fairly quick, with prospective candidates generally knowing within a week or two if they will be called back for subsequent rounds/if they are receiving an offer.”
  • “Ideal candidate has been described to me as ‘smart without an ego.’ Looking for people who are personable and easy to talk to, as well as sharp and well qualified.”
  • “They let me know I had performed well each round and hired me an hour after the final interview, so it was all very fast and transparent. I believe they are looking for (in my position) people with advanced degrees that have a very strong research background and understanding, but that can communicate well and with poise, while simultaneously being able to pick up business principles rapidly.”
  • “We exclusively use case interviews, to my knowledge, with basic behavioral questions layered in before and after as time allows.  I believe it is two rounds of interviews with three interviews each. Ideal candidate is someone who is pragmatic and data-driven in their work focus; someone with some degree of cynicism in them, but also very light-hearted and easy going in general.”

Interview Questions

  • “Cost-benefit analysis of switching truck fleet to fully electric vehicles. U.S. market entry strategy for a European manufacturer of marble bathtubs. Profitability improvement for acrylic window-pane manufacturer.”
  • “Market sizing and case presentation.”
  • “Most often, we use fairly generic case interviews with a few minutes of behavioral questions.  Often very focused on market sizing.”
  • “Tell me about a time when you were working on a team and you faced an unexpected challenge. How did you work through this, and what was the result?”
  • “We ask market sizing and business strategy questions. I think we're more quantitatively rigorous than other firms, which means you get fewer of the ‘English Major to Consultant’ types here than elsewhere (we have a ton of business undergrads, econ folks, and STEM folks).”
L.E.K. Consulting

75 State Street
19th Floor
Boston, MA 02109
Phone: (617) 951-9500

Firm Stats

Employer Type: Private
Global Managing Partner: Clay Heskett
Americas Region Head: Manny Picciola
European Region Head: Ben Faircloth
2024 Employees (All Locations): 2,300

Major Office Locations

Boston, MA (US HQ)
National
Global

Major Departments & Practices

  • Management & Strategy Consulting
  • Operations & Supply Chain Consulting
  • Turnaround & Transformation Consulting
  • Mergers and Acquisitions
  • Organizational Strategy
  • Transaction Due Diligence
  • Digital Strategy
  • Sustainability Strategy
  • Marketing Strategy.