In some cases, the firm landed new clients by offering several weeks of work at no cost until proving the worth of their services. Offering top salaries, the company recruited top business school graduates, generally from Harvard or Stanford, who shared similar traits to Bill Bain: trim and fastidious about their appearance, bright and calculating, and utterly devoted to destroying the competition of their clients.
These young associates became known as "Bainies," a reference to the Moonie cult and a comment on their zealousness and loyalty to Bill Bain. In , Bain opened a London office to serve European customers as the firm grew at a rapid pace, with revenues increasing at a rate of 40 to 50 percent a year. By the early s, however, cracks began to appear. Although a partnership, the company was very much controlled by Bill Bain. According to The New York Times, one former partner called the partnership deed "not a bill of rights, but the rights of Bill.
They did not have rights to a specific percentage of the firm's earnings; rather, Bain parceled out profits at the end of the year as he saw fit. Partners could not easily argue with the split because most of them were never told what the firm earned.
The partnership agreement did, however, contain a noncompete clause. Nevertheless, Bain continued to grow and between and tripled its staff to meet the demanded for its services. Despite criticism, Bain achieved some notable successes in the early s. When National Steel hired Bain in , it was the highest-cost steel producer, but by , after applying Bain's recommendations that it simultaneously downsize and modernize, it became the lowest-cost producer, the first in the industry to adopt new continuous-casting technologies.
Another success was Chrysler Corporation, which hired Bain in after a free, four-month study of an electrical wiring system. Although these successes were tangible, some questioned how much value Bain, or any consulting firm, actually provided its customers. All too often, according to conventional wisdom, consultants were brought in to write up a CEO's plan and be available to take the blame should it fail.
To help aid its case that Bain added true value, the firm in created the "Bain Index" to measure the improved performance of clients' stocks against the Dow Jones industrial average.
The goal of the firm was to increase values for its clients at a rate ten times its fees. Rather than just rely on fees to provide growth, Bain began to look for direct investment in companies, which ultimately led to the acceptance of equity as part of its compensation, not only to more closely align its interest with the clients but also to reap the rewards of its successful strategies.
In , it created Bain Capital, a limited partnership headed by W. Mitt Romney, son of politician George Romney, which invested in start-up companies and buyouts that could be readily improved. But it is not entirely a neutral operation. We know your priorities can shift as your life changes. At every point, we make sure you have what you need for a long, productive and fulfilling career with us.
Phone number: Visit Website: www. Visit Website. Company Stats. Employer Type. Featured Rankings. Vault Consulting Major Office Locations. Career Site. News Site. View more. Firsthand Findings. About the Company. Most Selective Consulting Firms. Employee Reviews. That means a lot when you think about how much of your life you spend on work.
I cannot imagine a better community to be a part of. I received offers from several other firms of comparable prestige when I went through the interview process, and was won over by the quality of people that I met at Bain. This continues to be the reason I plan to stay at this firm — and conversations that I have had with friends at comparable firms have confirmed that I made the right decision.
Bain is truly unique in terms of its culture and the environment that it creates. There is, however, another side to the buzz and excitement. Few investors claim that most funds flow into a handful of platforms, while product-led innovations are starved of capital. The hope and hype driving agritech boom. Pandora says laboratory-made diamonds are forever. The world's biggest jeweller says it will no longer use mined diamonds in a bid to become more sustainable. Role call: the former ministers who found private sector jobs.
Rob Davies and Georgina Quach. The Greensill affair shows how some of David Cameron's appointees have been among the most enthusiastic corporate jobseekers.
Here's the list But the industry Want new factory to make car chips? Graeme Jeffery joins as a partner with a focus on capital markets and wholesale banking; Nishma Gosrani OBE and Jeff Tijssen join as expert partners, with expertise in corporate culture and fintech, respectively; and Christina Schulz joins as an associate partner with a focus on strategy and transformation. Graeme is a capital markets and wholesale banking expert with 25 years of banking and Lockdowns, travel restrictions and The 20 best companies to work for, based on year analysis - Business Insider.
Insider analyzed Glassdoor's Best Places to Work rankings from the past decade to discover which companies keep rising to the top. Since , Pangea has supported numerous clients to innovate and improve their internal processes. The team is composed of exceptionally qualified References Page 1 of 2. Third, Bill Bain relinquished ownership in the firm that carried his name. Within a year, Bain became profitable again and stemmed partner defections.
In , the head position was split into two roles — an executive head Worldwide Managing Director and a non-executive head Chairman of the Board.
After spending two years in military intelligence for the Israeli army and earning a degree in psychology from Hebrew University, Gadiesh enrolled in theHarvard Business School and graduated as a Baker Scholar. As a junior partner during the turnaround, she took a lead role in keeping senior partners from leaving the firm; as chairman, she became the first female to lead one of the major consulting firms. For the past several years, Gadiesh has been on the annual Forbes list of the Most Powerful Women in Business and serves on the board of several organizations, including the World Economic Forum.
The firm grew by 25 percent per year, expanded its office count from 12 to 26, and increased partnership from about 70 to nearly The economic slowdown following the dotcom boom was painful to all the major consulting players.
In response, the firm invested in its leadership ranks with internal promotions and key external hires.
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