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The Greek system The Parthenon Group took its name from the Acropolis temple honoring Athena Parthenos, the Greek goddess of wisdom and war. In a similar spirit of smarts and aggression, Parthenon has emerged a promising competitor in the eternal battle of strategy consulting firms. Founded in 1991 by William Achtmeyer and John Rutherford, two former directors of Bain and Company, Parthenon has expanded quickly despite its tender age. On average, the company's revenues have jumped 30 percent annually. Expansion Originally focused on financial services, Parthenon has expanded into a variety of other sectors, including media, publishing and communications, and retail. It has plans to expand to the West Coast and has earned international recognition by planting an office in London. Despite fierce competition, Parthenon has managed to amass an impressive client list, which includes Microcom, Pepsi, Ocean Spray, Starwood, Thomson, Madison Square Garden, and the AT&T Online Division. Like other small consulting firms, Parthenon also advises high-potential startups. Parthenon claims that 80 percent of its assignments are CEO-level and is looking to further strengthen such boardroom relationships. The firm is fond of separating itself from the pack on the basis of specific company codes. For example, Parthenon prides itself on offering equity incentives to its employees. Since there is no requirement to specialize by level, MBA graduates who join Parthenon as "principals" are said to work on a broader-than-average range of client issues. Debut fund In 1998, Parthenon kicked off the Parthenon Capital fund with a target of $250 million and they closed at $350 million. The fund has drawn great interest from industry spectators because its strategy and portfolio of companies depend upon management consulting. Not surprisingly, the Parthenon Group and Parthenon Capital work collaboratively, the former providing operational advice and the latter sharing its financial opportunities.
Like all consulting firms, Parthenon seeks individuals with superior intellectual and interpersonal skills. It focuses its recruiting at a select number of top undergraduate and business schools. The number of full-time employees Parthenon hires per year varies, as that figure depends on the company's mercurial business needs. Parthenon also hires a limited number of business school students as summer associates. Summer associates receive extensive training and receive in-house mentors. Historically, summer associates have been hired exclusively through Parthenon's Boston office. Since Parthenon's company literature is chock full of standard corporate phrases like "team player," "entrepreneurial spirit," and "risk taking," determined Parthenon interviewees would do well to acquaint themselves with the rhetoric of the industry. Once onboard, Parthenon employees begin as principals (MBAs) or associate consultants (undergrads). The organizational pyramid narrows to managing director, and at the pinnacle, CEO Bill Achtmeyer. Parthenon states that there is no standard promotional track. Rather, the pace of a new principal's progression is set by his or her experience and project team success. Consultants are hired as generalists, rather than being assigned to practice groups.
Clients of Parthenon tend to be satisfied with the job performed. "They do the best analytical work around," reveals one enthusiastic client, while another states, "They make fairly aggressive and dramatic moves." Parthenon is reported to have a better-than-average working environment as well. "Parthenon is a very exciting place to work – fast-paced, challenging, and very client-driven," says one insider. An associate reveals, "I often work side-by-side with senior clients and senior people at Parthenon. The level and rate of learning is high and requires associates to be creative, driven, and very analytical." Says another: "Working here is fun – we try to work hard, play hard, and enjoy some of the benefits of being in this field." As for the work culture: "Our environment is casual, both in dress and relationships. The hours are typical for the profession, as is the travel and pay."
Recruiting Coordinator Eileen McBride The Parthenon Group1 200 State Street, 14th Floor Boston MA 02109 (617) 478-2550
Strategy consulting;Principal investing
Bain;Boston Consulting Group;Mars & Co.;McKinsey More Company Profiles For more career information, go to Vault.com ©2000, Vault.com Inc
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