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The Cambridge Group, LLC

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Vault’s Verdict

For TCG insiders, their firm’s tight-knit culture, flat hierarchy, and opportunities to take early responsibility make for a great boutique consulting experience. Partners know everyone on their teams, the firm follows a hybrid work model with two remote days per week, and requires little travel, late-night work, or weekend work. Altogether, insiders feel positive about their work-life balance.

If you prefer to learn by doing, the firm’s approach to career development may suit you well. Insiders highlight TCG’s emphasis on informal training and mentoring, with flexibility to explore the firm’s different clients and practices for consultants who take initiative and raise their hands. Formal training is sparse but has improved since the PA Consulting acquisition. International opportunities have also emerged, say insiders.

Consultants at TCG come up for promotion once a year, and the firm offers a base salary competitive with larger firms. The bonus varies according to firm performance and is competitive for the industry, and the firm offers a generous 401(k) match and an equity plan. Additional benefits include gym reimbursement, on-site snacks and beverages, and weekly catered lunch.

Employee Reviews

Firm Culture

  • “Every person can have an impact. We’re bigger than we used to be but still small enough that partners know everyone on the team, so there’s a lot of attention to individual development. The culture has always been tightly knit and a big differentiator for me.”
  • “Supportive and tight-knit culture, exciting growth strategy work, early responsibility. As a second-year employee, I have been tasked with leading workstreams and am trusted to present to the client.”
  • “I really like the focus on supporting volunteering efforts. Parental-leave policy is also very strong. There’s a lot of attention around balance, and a lot more flexibility available than when I started out.”
  • “People are very understanding of your personal schedule, and the only priority is that you get your work done. Time off is typically approved. There are occasionally long hours but nothing crazy or unnecessary.”

Quality of Life

  • “Hours are variable (as they are at all consulting firms) but given the tight-knit culture of the firm, managers are amenable and understand that you have a life outside of work. People respect PTO and look to limit late nights/weekend work.”
  • “Compared to other consulting firms, we have a good work-life balance. While some weeks are sprints, most weeks it’s completely reasonable to block off time for workouts, appointments, networking (internal and external), and step away to do things for your ‘regular life.’ I'd say the average log-off time is between 6 and 7 p.m., including some breaks throughout the day. We don’t travel much, which I personally love.”
  • “Hours are in line with consulting, limited travel is great, it’s easy to take time off, and there’s a two days in-office hybrid policy.”
  • “You work hard at TCG, but it’s not a travel model, and I rarely work on weekends or at night. They do good work efficiently and don’t worry about performative travel or any nonsense like that.”

Career Development

  • “Strong performers have a lot of flexibility to explore leadership opportunities. Because it is still a relatively small team, each individual can have significant impact. International opportunities are nice but are limited primarily to UK/Europe.”
  • “We have fantastic informal training. Given that we are a firm of 40 people, colleagues at all levels are accessible to answer questions and ideate with. As long as you take the initiative to raise questions and ideas, you’re able to get the support you need. However, the promotion process is a year-long cycle now, as it used to be a bi-annual cycle.”
  • “Our firm is very flexible in terms of getting involved in the type of work and the type of clients you are most interested in and in transfers to domestic or international offices. Mentoring and on-the-job training are strong, along with feedback and development plans. There is not a lot of formal training; most training takes place on the job.”
  • “Formal training accessibility can be limited given the smaller size of the Chicago office, but as we are integrating with PA, we continue to gain access to more resources. Informal training and mentorship is a strong point.”

Compensation

  • “Base salary is currently comparable/higher than B4, but lags behind B3 firms. Bonus is variable based on firm performance but seems to be on par with other firms.”
  • “Base compensation is great, and pay is equitable by levels, which reduces any gender/racial biases. Non-compensation benefits could be stronger (e.g., more favorable gym/lifestyle reimbursements, healthcare plans, etc.), but nothing is bad enough to truly complain about! We have lunch provided once a week, and we always have other snacks and beverages available.”
  • “Salary and compensation has met my expectations on a consistent basis, considering base, bonus, and equity participation. Annual 401(k) contribution is the most generous I’ve had in my career.”
  • “There is a concerted effort from the organization to focus on employee health and wellbeing. This ranges from having different types of campaigns that share tips and tricks to tangible benefits (e.g., reimbursement for a gym membership). Being active is encouraged (e.g., taking walking meetings, blocking time on the calendar for a workout).”

Inclusion

  • “We have an active employee resource group educating the firm through cutting-edge events. The events are well attended by all.”
  • “Very proud that we have taken a positive public position to continue to support DEI initiatives in the U.S.”
  • “The firm is very welcoming, but it has limited diversity when it comes to underrepresented minorities.”
  • “Everyone here is seemingly treated equally and given the same opportunities. I haven’t seen any kind of discrimination and everyone works with each other.”

Business Outlook

  • “Uncertainty in the economy has affected consulting at large, but TCG is not especially impacted compared to other firms.”
  • “Due to PA Consulting acquiring us, we have a lot of different things that we can do and projects coming from all markets.”
  • “We are growing quarterly sales and revenue consistently. However, lots of our clients are cautious about starting new work due to the challenging U.S. economic and political environment.”
  • “We have been incredibly busy the past few months, so we are hoping to carry that momentum into next year.”

Hiring Process

  • “Our recruiting process is highly sought after, and we look for candidates that have strong demonstrated interest in the firm itself and the type of work we do. It’s not enough to be technical and high achieving. You must contribute to firm culture and be a team player. The process is: application submission, group case interview, take home Excel exercise, live case (x2) and behavioral interviews, extend offer (or not).”
  • “Typically two rounds with multiple cases. We’re looking for people who are sharp, structured, and strategic. There’s always some math component to the case such as market sizing.”
  • “Interview process was very quick, only lasting two weeks. I heard back three weeks after my final interview. I believe the firm seeks a candidate who is enthusiastic about the type of work and clients we serve.”
  • “Strong analytically, confident and persuasive in communication. Every level at the firm requires data-based problem-solving chops, so that is a huge priority in the interview process and ideal candidate. Proactivity and ownership are also huge markers of successful people.”

Interview Questions

  • “Questions tend to link to the type of work we do in a given capability/part of the business. Growth strategy will focus on case examples of companies seeking new growth and ask you to think through potential avenues to growth, priorities opportunities given some data, etc.”
  • “Estimate the size of demand for a particular product and hypothesize the consumer segments and need states today, plus identify the ones most attractive to target for growth. Support with why you think that.”
  • “What are the potential customer segments for a fitness app?”
  • “Behavioral: Ran through my resume, answered lots of experience-based questions (tell me about a time …), and talked about why I wanted to join the firm. Case: Growth strategy cases on a nonprofit and consumer sector company.”
The Cambridge Group, LLC

10 S. Wacker Drive
Suite 3550
Chicago, IL 60606-5058
Phone: (312) 425-3600

Firm Stats

Employer Type: Private
Managing Partner: Jim Eckels
Managing Partner: Chris Fosdick
2023 Employees (All Locations): 50

Major Office Locations

Chicago, IL

Major Departments & Practices

Growth Strategy