1999

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Growing Like Wildfire

Mitchell Madison is a fresh new firm. It was founded in 1991 by disenchanted McKinseyites, including Tom Steiner, the former managing director. Since that time, Mitchell Madison Group has grown like wildfire, its expansion fueled by monetary gains from its super-high fees, second only to McKinsey's. Today, Mitchell Madison has 650 bright, young eager consultants working for it, eager to make an impact on the consulting industry.

Branching Out

At first, Mitchell Madison focused on financial services and technology, the area of its expertise at AT Kearney. Steiner and his other co-founders (twenty-four of them) had brought many clients and engagements with them to the new consultancy, and did not lack for work or starting capital. Mitchell Madison's fees - by one account, second only to McKinsey's - help fund operations as well. Cleverly using its good work in financial institution cost reduction as an entrée, and concentrating on deregulating industries, Mitchell Madison has expanded to other areas, including engagements in the automotive, media, petrochemical, pharmaceutical, telecommunications, and electronic technology sectors. The firm's areas of expertise include electronic distribution, market and product strategy, database marketing, payments systems, risk management, strategic management information systems, corporate restructuring and reengineering, advanced sourcing techniques, and technology management.
Ride 'em, Cowboy

The consultants at Mitchell Madison often reflect the firm's "party line." One consultant refers to the "rawness" of Mitchell Madison, saying: "Our clients often describe us as cowboys. MMG prides itself on having little to no structure. If you need someone to hold your hand, don't come to MMG." Another insider adds: "The upside to working here is that it's easy for someone at any level to make their mark. The downside is that when you need some support, there's not much there." Another consultant reports that "there is a young and feisty spirit to the place. As it gets larger and larger, more bureaucracy is put in place, but it is still one of the most non-corporate places out there."

The Big Benefactor

For a new firm, Mitchell Madison doesn't lack for perks. MMG is interested in building cohesion in this young firm, so the company frequently sponsors "theater outings" and "social events, dinners, fun runs, that kind of thing." "I'm waiting for tickets to the Lion King on Broadway myself," says one eager New York-based consultant. MMG business analysts are also pleased that "MMG will pay for your business school degree, and not ask you to commit to coming back to the firm. Of course, if you don't, you'll have to pay back your loan. Still, it's a nice bonus and one less thing you need to worry about." One burnt-out MMG professional says: "The best thing about our perks is the four weeks of vacation. Paradise!"

Growing Like Wildfire

Mitchell Madison is a fresh new firm. It was founded in 1991 by disenchanted McKinseyites, including Tom Steiner, the former managing director. Since that time, Mitchell Madison Group has grown like wildfire, its expansion fueled by monetary gains from its super-high fees, second only to McKinsey's. Today, Mitchell Madison has 650 bright, young eager consultants working for it, eager to make an impact on the consulting industry.

Branching Out

At first, Mitchell Madison focused on financial services and technology, the area of its expertise at AT Kearney. Steiner and his other co-founders (twenty-four of them) had brought many clients and engagements with them to the new consultancy, and did not lack for work or starting capital. Mitchell Madison's fees - by one account, second only to McKinsey's - help fund operations as well. Cleverly using its good work in financial institution cost reduction as an entrée, and concentrating on deregulating industries, Mitchell Madison has expanded to other areas, including engagements in the automotive, media, petrochemical, pharmaceutical, telecommunications, and electronic technology sectors. The firm's areas of expertise include electronic distribution, market and product strategy, database marketing, payments systems, risk management, strategic management information systems, corporate restructuring and reengineering, advanced sourcing techniques, and technology management.

Ride 'em, Cowboy

The consultants at Mitchell Madison often reflect the firm's "party line." One consultant refers to the "rawness" of Mitchell Madison, saying: "Our clients often describe us as cowboys. MMG prides itself on having little to no structure. If you need someone to hold your hand, don't come to MMG." Another insider adds: "The upside to working here is that it's easy for someone at any level to make their mark. The downside is that when you need some support, there's not much there." Another consultant reports that "there is a young and feisty spirit to the place. As it gets larger and larger, more bureaucracy is put in place, but it is still one of the most non-corporate places out there."

The Big Benefactor

For a new firm, Mitchell Madison doesn't lack for perks. MMG is interested in building cohesion in this young firm, so the company frequently sponsors "theater outings" and "social events, dinners, fun runs, that kind of thing." "I'm waiting for tickets to the Lion King on Broadway myself," says one eager New York-based consultant. MMG business analysts are also pleased that "MMG will pay for your business school degree, and not ask you to commit to coming back to the firm. Of course, if you don't, you'll have to pay back your loan. Still, it's a nice bonus and one less thing you need to worry about." One burnt-out MMG professional says: "The best thing about our perks is the four weeks of vacation. Paradise!"