Putnam Associates
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The atmosphere around the office is very young and fresh. There are so many people here in their 20's that the office always is alive and full of energy. The Consultants and Associates do a great job in mentoring all of the newhires and make everyone feel welcome. They have an open door policy and definitely stick to it. I work an average of about 8-6pm everday - which is very decent for a consulting firm.
I am a Consultant and we are paid 100K-150K in salary. Bonuses range from $25,000 to $35,000.
Several Consultants and some Partners at my office began at the Associate or Senior Associate level. This is very encouraging to everyone because it shows that if you work hard within the company, there is no limit to how far you can go. If you don't work hard, you will stay at the Associate level or the Senior Associate level for years. This is a pure merit based company, which I love.
Putnam is a healthcare consulting company. Most healthcare consultant firms just crunch numbers all day and adjust sales force alignments. On the other hand, we do amazing and fun stuff! We interview clients, analyze data, and make strategic recommendations for our clients that add value to the business. I love my work because I work on high level strategy rather than sit around all day and crunch numbers.
We are a very small consulting firm and therefore are very selective in our recruitment process. We do not just let anyone into the company, and make sure that every person is of equal caliber and can contribute something great to the team.
You don't have to do the 2 - 3 years and then business school route. You are not forced to exist the company after three years. Although a lot of consultants to leave for business school, many often come back and rejoin the company.
Consultants move up very quickly within the company. You can expect to be promoted twice during your first 2-3 years at the company. The opportunity to learn and grow from the managers is always there and I feel the actual experience you get is the best part of the job.
I have found that the culture is very collaborative and open. Everyone feels comfortable being themselves and I am good friends with almost everyone at the office. The Partners make you feel comfortable and valuable. They have an open-door policy and I feel comfortable walking into their office at anytime.
The attire at the company is business professional. We do get casual Friday which is really nice. During the summer, we get to wear business casual around the office. I think this is because of the crazy heat over here. Just do what everyone else is wearing and you'll be fine.
I work an average of about 55 hours a week. This greatly varies though. I'll find myself working 45 hours one week and the 80 hours the next week. However, being staffed on hour-intensive projects are rare, and you'll find yourself working the 50 hour a week projects more often.
Work hours are 8:30am to 6pm. Even if you aren't staffed on a project, you are required to be in at the office. When you are staffed on a project, you are expected to stay as late as your entire team. When deadlines are coming up, you will stay at the office until 10pm easily. You won't work weekends unless there are deadlines coming up, and the managers do a great job in giving you a work/life balance.
Promotions at Putnam are taken very seriously. You must earn the trust and respect of everyone you work with in order to get the promotion. On average, an Analyst will be promoted to Associate within a year. From Associate, it takes about two years to make it to Senior Associate. The majority of the Consultants have an MBA; however, you can make it to Consultant without having an MBA.
Your promotion process in the firm is all merit based. They do not give you a specific time fram (like most other firms) of when you will be promoted. If you work hard, you will be recognized for your efforts and be promoted accordingly. You do not need your MBA to get promoted to Consultant status. Like I said, all merit based.
Like any Analyst position at any consulting firm, you will be doing a lot of quantitative work. You will be building financial models and analyzing data taken from surveys. This work requires attention to detail and staying very organized. Unlike most consulting firms, we are able to get involved with high-level recommendations for the client. When you demonstrate your value and are able to offer recommendations for the client, you will get promoted for your abilities.
Associates get paid about 45K to 50K. The bonuses are around 15-20% of your salary. We get great medical (health and dental) and we get about 3 weeks of vacation time.
I work an average of about 50 hours a week. When it is deadline time, you can bet that we start working till the late night to finish the project - this is of course expected at any firm. When you have a deadline, expect to put in your 80 hours.
I love the people that I work with. The environment is very friendly and the day ends quickly because I'm with people I can have fun with. There is a great work/life balance because we rarely work late nights and weekends. The managers and directors want to see you progress through the firm and will take an active role in helping you rise up the ranks.
I have one thing to say. Promotions do not come automatically. They come purely based on performance. I absolutely love this because you really get the sense and feel that if I work harder, I'll get promoted faster within the company.
I was hired as an undergrad into Putnam and I found the culture to be very closed. I does not seem like they promote growth or learning here because everyone likes to keep information for themselves. I do not like the people who I work with and notice that there is a high turnover ratio. Even if you're not staffed on the same project, you have to stay late with everyone so that everyone feels the team environment. I did not stay at this firm because the culture was not for me.
Work is always stimulating, never repetitive, and I learn so much from doing it. Each person on the team is accountable and responsible for their own work, making the entire experience very rewarding. You have the ability (even as a young analyst) to make recommendations for clients and be a part of the high-level strategy.
There is very little travel. When we do travel, it is for a client presentation, so we really never work at the client site. This works for me because I love being able to go back home every night and not have to sleep in hotels all the time like most consultants.
The Partners in this firm are very welcoming, love to give advice, and have a great open door policy. We have a very young company, with a big majority of the employees in their mid 20's. I'm good friends with almost everyone at the office and we often hang out outside of the company. It doesn't seem like work because I'm always hanging out with great people
A big problem with Putnam is that they are kinda dependent on a few key clients, which could make the company somewhat shaky in bad times.
This is a great place to work at! There is not a big hierarchy here at Putnam, and everyone is treated as equals. They know how to work their employees so that we have to motivation to work hard, but at the same time, we never get burnt out. This is not an up or out of place kind of firm. If you feel comfortable just staying at your leve, you can do it. You do not have to move up until you're ready to be promoted.
I was hired as a Senior Associate in 2004 and received $65,000 with a $1,000 signing bonus. My bonuses at the end of the year were around $20,000. We always have nice perks such as sports games, holiday parties, and corporate events.
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