VEP: Bain&Company 2003
Vault, Inc. | 2002 | ISBN: 1581311915 | PDF | pages 45 | 1.07 Mb
Vault employer profile of the company featuring recruiting, interviewing process, corporate culture, salary and more.
Bain and Company’s history reads like a great epic, complete with riches and loyalty, blackmail and bankruptcy. In 1973, with big dreams and only one phone line, Bill Bain and three others set up office in Bill’s Beacon Hill
apartment. The company soon outgrew its space and moved to Lewis Wharf, an old dock warehouse. The firm continued to expand and quickly created branches in Boston, Palo Alto, London, Munich, Paris, and Milan. Bain
seemed destined for greatness, or at least for bundles of money, until the 1990s, when bad luck and poor decision–making sent the company tumbling. Bain landed on its feet, but fell into hard times again after adopting an employee stock ownership plan. The firm overvalued itself to such an extent that it soon owed $25 million in annual interest payments. Up to its neck in debt, Bain laid off 20 percent of its workforce, reworked its strategy and restructured –– and beat what seemed like insurmountable odds. Today, Bain is widely considered to be among the world’s most prestigious strategy consulting firms (along with McKinsey and the Boston Consulting Group), serving clients through an impressive network of 26 offices across 19 countries. With plans for expansion percolating, a vibrant chairperson at the reins and increasingly strong client ties, Bain is at the cusp of a promising new chapter.
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