Bain & Company Europe named Best European Consulting Firm to Work For; McKinsey voted Most Prestigious. releases European consulting rankings for 2011, the source of employer ratings, rankings and reconnaissance has unveiled its European Consulting Rankings. Duplicating their performances in the North America Rankings, Bain & Company took the top spot in the Vault European Consulting 25 for 2011 as the best consulting firm to work for in Europe, while McKinsey & Company was No. 1 in Vault’s European Consulting Prestige Ranking.

The rankings are a result of Vault’s annual European Consulting Survey. Conducted earlier this year, nearly 2,000 consulting professional of all levels were asked to assess their peer consulting firms on a scale of 1 to 10 based on prestige (respondents were unable to rate their own employers and were asked to rate only firms with which they were familiar). Consultants were also asked to rank their own firm’s quality of life in such categories as firm culture, compensation, overall satisfaction and diversity among others. For the purpose of the European Consulting 25 Ranking, a weighted formula was used to combine findings from both prestige and quality of life rankings to create one “Best to Work For” category.

The Top 10 European firms based on Vault’s Annual Consulting Survey are:

1. Bain & Company

2. The Boston Consulting Group

3. Ronald Berger Strategy Consultants

4. Booz & Company

5. Oliver Wyman

6. OC&C Strategy Consultants

7. Accenture

8. A.T. Kearney

9. Monitor Group

10. PRTM

“Bain & Company already boasts an excellent reputation in the consulting industry, but what put them over the top our European Consulting 25 was its dominance of our Quality of Life rankings,” said Managing Editor Brian Dalton. “We have found that job seekers place a high premium on firm culture – even more so than they do on prestige – and that’s where Bain & Company truly excelled. They were also tops when it came to compensation, selectivity, training and overall satisfaction. It becomes obvious why they took the top spot.”

In addition, Bain & Company took the top spot in promotions, diversity toward GLBT employees, overall diversity, selectivity, business outlook and leadership. One survey respondent said of the firm: “I love my job – and I love coming to work every day. It’s varied, it’s always interesting, I get to work with amazing people, and I feel like 'the firm' cares. What's not to like?”

In other Quality of Life categories, the following firms took the top spot (along with survey respondent quotes):

Hours: Candesic (“Extremely flexible model supporting excellent lifestyle management.”)

Work-Life: Candesic (“Candesic is by far the most flexible employer.”)

Travel: Hewitt Associates (“Travel requirements are kept to a minimum.”)

Supervisors: Candesic (“All the partners are very approachable and try to help out.”)

Clients: Candesic (“Mature, sensible relationships.”)

Diversity (Women): Candesic (“50% of consultants are women.”

Diversity (Minorities): Accenture (“Accenture prides itself on its diversity and I think it does a very good job as I have never worked with such a varied and diverse workforce.”)

Green Initiatives: Atkins

While quality of life is important, prestige still matters to job seekers looking to have the biggest and best names on their resume. According to insiders, McKinsey & Company still reigns supreme as the most prestigious firm in the industry, edging out Boston Consulting Group and Bain & Company. Survey respondents call McKinsey “the crème de la crème,” “the market leader,” “still the gold standard,” and “the original consultants.”

“McKinsey & Company cannot be beat in the prestige category,” Dalton added. “The firm has achieved a certain mystique that has gone unmatched since we began conducting our consulting survey, so much so that respondents go so far as to say that ‘in the end, everyone wants to be a bit like them.”

McKinsey also dominated Vault’s European Consulting Practice Area Rankings, coming in at No. 1 for the Business Advisory, Economic, Energy, Financial, Operations and Health Care categories. Other firms coming in at No. 1 include (with survey respondent quotes):

HR: Mercer Limited (“Large market leader in employee benefits.”)

Technology: Accenture (“Technology leaders.”)read more