One consulting firm is hopping into the spring bonus bonanza and offering a unique reward to consultants who have been stuck at home for much of the past year.
Boston Consulting Group (BCG) recently gave its consultants 180,000 Marriott points, Insider has learned.
Hotel loyalty programs reward frequent travelers with points and perks to incentivize them to continue staying a specific hotel chain. The points can then be redeemed for free hotel stays, upgraded travel packages, and other experiences.
Currently, 180,000 points could get you two nights at the luxury St. Regis resort in Bora Bora, where villas are around $1,800 per night.
In normal times, high-flying consultants at top firms are on the road frequently meeting with clients. Racking up travel rewards at hotel chains and airlines is seen as one of the gig’s top perks.
But more than a year into the pandemic, many consultants have had to adjust to a new normal that involves no travel, no face-to-face interactions with clients, and the expectation for some of 100-hour workweeks.
As a result, many are burning out and quitting their jobs, which come with a six-figure salary right out of college or business school.
As a whole, the consulting world hasn’t rushed to participate in the perks and bonus wave rippling through most Wall Street banks, financial firms, and Big Law firms, where young talent is being showered with tens of thousands of dollars in bonuses, all-expense-paid vacations, and Peloton bikes.
PwC, a large accounting firm that also has a consulting business, is offering its employees $250 each time they take a consecutive week off, up to four times or $1,000, firm spokesperson Laura Dally told Insider. This reward "reinforced our commitment to our people’s well-being and recognizes the importance of disconnecting," Dally said.
The firm is also awarding all US staff one week of extra pay as a special "thank you" bonus on top of its existing bonus structure, according to Dally.
The two other firms that along with BGC make up the Big 3 consultancies— McKinsey and Bain — did not respond to requests for comment from Insider about whether they were gifting consultants with travel rewards or other bonuses.
A representative for Deloitte said the firm hasn’t offered travel bonuses to associates, and representatives for KPMG and EY — other top accounting firms with consulting businesses — did not respond to requests for comment.
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Samantha Stokes May 14, 2021 at 09:03PM