Vault’s Verdict

As a growing consultancy, ScottMadden has doubled down on the culture that has enabled its success. Insiders say that transparent leadership and an emphasis on work-life balance, with perks like a great flexible work policy and strong on-the-job learning, make them proud to call the firm their long-term home. 

The firm’s consultants also say the firm is a great place for people motivated by performance-based compensation. Despite offering a relatively low base salary compared to its peers, its consultants are eligible for an annual bonus, plus four quarterly bonuses based on their billable hours. 

ScottMadden is also a leading consultancy in terms of diversity. Employees point to its decision to publish a report on its DEI metrics each year as a sign that the firm sees DEI as a legitimate business strategy, not just lip service. They also highlight the impact of its many employee resource groups, which empower people from many different backgrounds to climb the firm’s ranks.

Employee Reviews

Firm Culture

• “The personal touch is huge here. I have met all the partners in the energy practice. They know who I am, what I’m interested in, and reach out when they have opportunities that are appealing to me.”
• “Everyone at the firm is very caring and supportive. They’re interested in your long-term development as a consultant.”
• “The firm offers many different activities and events to recognize and celebrate our differences while learning from each other.”
• “Our firm leadership is very transparent about the opportunities and risks on the horizon. Based on what has been shared as well as ongoing daily activities, I'm confident that we are all well positioned to capitalize on the opportunities while protecting against the risks.”

Quality of Life

• “The firm has a very flexible work policy. We are encouraged to be in the office a couple days a week to collaborate with others, but there is no mandate. Its travel models have evolved such that we only travel to the client site for key meetings, workshops, and presentations, which has made the consulting lifestyle much more sustainable.”
• “I feel like I can start my family and be present while still being a consultant. That is important to me, and it makes me feel like I can be here for the rest of my career.”
• “Work and life balance is not just a mission statement item but a daily practice.  Client travel happens during the work week, and weekends are reserved for family time.”
• “The firm is incredibly responsive to employee requests; this includes leave, time-off, remote working, and even project preference. They seem to always take their consultants' opinions into account.”

Career Development

• “People really go out of their way to personally coach the consultants on their team. There’s less emphasis on formal training, but it exists in a limited way and doesn’t get in the way, which is a good thing.”
• “Promotion has some basis in seniority and time worked, but it is mostly informed by merit and the quality of your work. However, I do wish it was easier to understand the difference between an analyst, a senior analyst.”
• “The firm offers many ways to develop in areas of interest outside your project work. These include getting involved in our communities of practice, attending lunch-and-learns and other internal training sessions, meeting with subject matter experts within the firm, and attending conferences focused on training opportunities.”
• “The company is leaning into developing and providing training opportunities around emerging needs in consulting, which is helpful at advancing your knowledge of leading topics. It also has various employee resource groups which can help you find support and belonging, which drives retention.”

Compensation

• “Although our bonus structure is great, this means our base salary is lower compared to other firms. It would be better to have a higher base salary and a lower bonus structure. Also, our quarterly bonuses are based on utilization and can be negatively affected by taking time off.”
• “The 401(k) match is high—200 percent and up to $2,000 a year—with a low vesting period. The profit-sharing vesting period is long to be 100 percent vested, at four years with smaller milestones throughout.”
• “Our salary is very competitive considering that we do not travel much and have a better work-life balance than larger consulting firms.”
• “The salary progression is not incredibly linear, but that’s mostly due to the jump from undergraduate roles to post-MBA roles. After that, it stabilized more. Beyond that, my favorite part is that everyone at [the same] level receives the same base pay, with utilization bonuses being the only variable.”

Community Engagement

• “DEI is a major pillar of our firm, and it’s definitely more than just lip service. I feel like all our consultants have equal access to everything our firms offer.”
• “We actively measure and report our diversity metrics, and we offer a lot of programs ranging from employee resources groups to small discussion groups designed to promote inclusivity. It’s a top priority for the firm.”
• “The firm offers an annual $750 Lifestyle Benefit stipend that can be applied to a wide range of expenses at the discretion of the employee, all designed to promote physical or mental health.”
• “The firm provides paid time for volunteer work and a firm-wide commitment to community engagement. The firm’s many employee resource groups also support health and wellbeing through activities and ongoing connection.”

Business Outlook

• “We have a stable client base, strong market reputation, and excellent talent throughout all levels of the firm. Our largest concerns are related to several planned retirements in the next few years, but the firm is clearly being thoughtful with its succession planning.”
• “As with any firm, we are subject to ebbs and flows in the economy, but we have managed our growth in a conservative manner so that we can weather any downturns successfully. We have strong brand recognition in our areas of expertise and good breadth across services and industries.”
• “We are very well positioned as our two primary focus areas, Energy and Corporate and Shared Services, are increasing in demand all the time. Furthermore, we have been able to identify ways to use innovations such as AI to help support and further our primary focus areas.”
• “The firm has taken a steady approach to growth by not overreacting to market conditions. This has led us to retain a sense of job security while also continuing to meet the needs of our clients.”

Hiring Process

• “We have three rounds of interviews focused on behavioral components. These help recruiters identify your ability to tell a story and pinpoint previous experiences that would help us in this role. Candidates also have to give a 30-minute presentation to senior leaders at the firm to showcase their ability to deliver client presentations.”
• “We don’t do a case study interview, which is one of the main reasons I applied. The interviews were more focused on our background, consulting interests, overall firm interests, and personality fit.” 
• “The ideal candidate is level-headed, reasonable, willing to learn, and puts the team before the individual.”
• “We’re looking for people who are already passionate about helping our clients. Lead with your passion, then back it with vigor and fundamentals.”

Interview Questions

• “Describe a time you used data analysis to solve a problem and share what specific tool was used and how it was used.”
• “Tell us about a time you had to build alignment among a group that had different beliefs.”
• “Give me an example of a time you identified a potential problem and resolved the situation before it became serious.”
• “Provide an example where you had to disagree with a client. What was your logic, and how did the client receive what you said?”