Career in financial services........Money+Power+Contacts

Cycle of life: Play wise, play fool to achieve your goal

There once lived a great mathematician in a village outside Ujjain. He was often called by the local king to advice on matters related to the economy. His reputation had spread as far as Taxila in the North and Kanchi in the South. So it hurt him very much when the village headman told him, "You may be a great mathematician who advises the king on economic matters but your son does not know the value of gold or silver."

The mathematician called his son and asked, "What is more valuable - gold or silver?" "Gold," said the son. "That is correct. Why is it then that the village headman makes fun of you, claims you do not know the value of gold or silver? He teases me every day. He mocks me before other village elders as a father who neglects his son. This hurts me. I feel everyone in the village is laughing behind my back because you do not know what is more valuable, gold or silver. Explain this to me, son."

So the son of the mathematician told his father the reason why the village headman carried this impression. "Every day on my way to school, the village headman calls me to his house. There, in front of all village elders, he holds out a silver coin in one hand and a gold coin in other. He asks me to pick up the more valuable coin. I pick the silver coin. He laughs, the elders jeer, everyone makes fun of me. And then I go to school. This happens every day. That is why they tell you I do not know the value of gold or silver."

The father was confused. His son knew the value of gold and silver, and yet when asked to choose between a gold coin and silver coin always picked the silver coin. "Why don't you pick up the gold coin?" he asked. In response, the son took the father to his room and showed him a box. In the box were at least a hundred silver coins. Turning to his father, the mathematician's son said, "The day I pick up the gold coin the game will stop. They will stop having fun and I will stop making money."

Sometimes in life, we have to play the fool because our seniors and our peers, and sometimes even our juniors like it. That does not mean we lose in the game of life. It just means allowing others to win in one arena of the game, while we win in the other arena of the game. We have to choose which arena matters to us and which arenas do not.

Shailesh, a portfolio manager in a wealth management company, has to endure hours of humiliation with his client. The client will keep telling Shailesh that he is a loser because he works for another company and that he does not have his own business. His client then shows off his wealth and mocks the advise Shailesh gives him.

Often Shailesh feels like lashing out and telling the client to mind his own business. He wants to tell the client that everyone has his own criteria of success and that amongst portfolio managers he is one of the best. But he remains silent. He endures the jokes of his client. This makes the client feel good about himself. It boosts his ego. Allows him to feel he is smarter than others. And when the client feels good about himself, he gives Shailesh more business and more clients.

Shailesh has figured out that if he wants to win the arena of portfolio management, he has to allow the client of his to win the arena of emotions. So long as the client feels he is smarter than Shailesh and can crack jokes about Shailesh, he will remain Shailesh's client. The day Shailesh puts him in his place, the game will stop and the relationship will come to an end.

At the root is the human desire to feel significant. To feel significant, one often has to demonstrate one is superior to others. This leads to people bragging and putting others down. Often this is an emotional need, one that can be quite annoying to onlookers but critical to the one indulging in it. Recognizing this need allows us to endure many an insufferable boss or client. Used well, this endurance does bring dividends.

 

Become what you think...

George Bernard Shaw said the world has two kinds of people. First category are those who blame their circumstances for what they are. Second are folks who get on in this world, people who don't believe in circumstances. If these fellows get into circumstances they don't like, they get out of ‘em and begin to look for the circumstances they want. If they can't find them they make the circumstances of their choice.

In hindsight, this seems pretty self-evident. But everyone who has fought with circumstances and wrestled to them to kneel to his or her knees tends to believe that they are the first to have stumbled upon the well-concealed secret — that we can become what we think about. Conversely, the person who wobbles along without a goal, without a clue about mastering the thoughts of anxiety and fear assailing his senses, how does he fare? If he thinks of nothing , does he reap nothing? How does it work? How does the quality of our thinking have such a powerful effect on our lives?

Sages have used the allegory of the seed to explain the phenomenon. “Sweet is the fruit of pure seed,” says the mystic poet Sri Jnandev. So by corollary if one plants impure seeds or thoughts, impure are the tangles of thought-forests that will spring from the loam of their mind. So in practical terms, the mystic master is comparing the human mind with the land because the mind, like the land, doesn't care what you plant in it. It will return what you plant, but it doesn't care what you plant.

So? Be grateful for even small mercies. Try to keep away from toxic thoughts. For there is a growing body of evidence to show that people who regularly experience grateful thoughts or deliberately cultivate positive attitudes reap numerous benefits. Such individuals have closer and more life-giving relationships with those they love, and have fewer bouts of depression, writes psychologist John Buri in How to love your wife. They also heal faster when they are sick or hurt and tend to live longer and healthier.

What's more, they repeatedly experience success in school, sports and work that exceeds their natural abilities. One can harness all this through the Buddhist practice of Metta, also called meditation on loving-kindness to calm down a distraught mind that serves as an antidote to anger. Try it the next time your boss shouts or when the significant other fumes at you. Home Shanti.

 

Ten Top U.S. Management Consulting Firms...

Ten Top U.S. Management Consulting Firms

1. McKinsey & Co.



McKinsey is the most powerful consulting firm in the world. In boardrooms and corporate offices around the world, it is known simply as “The Firm,” the first recourse for advice when business woes strike. Such a reputation makes McKinsey consultants highly sought after and expensive to hire; its 9.000 consultants, citizens of 81 countries, generate an estimated $450,000 per person annually. Customers include some of the bluest-chip companies in the world, such as PepsiCo, AT&T, GE, IBM and General Motors Corps.

Since many ex-McKinsey consultants serve on company boards (up to a third of all boards, according to some estimates), the firm has long-term ties and relationships with CEOs at many major organizations.

Specialties: McKinsey is known as a strategy firm; its consultants usually are engaged to help create long-term strategic plans for a company, product or operation. In most cases, consultants work with senior-level executives at client companies.

Good: McKinsey tops most consulting firms for prestige and name-recognition; the firm is in a class of its own. The firm is consistently tapped for world-wide assignments, which means peerless opportunities for diverse experience and travel (65% of the firm’s revenues are generated overseas). Because of great connections, ex-consultants have excellent career prospects.

Bad: Not everyone makes it to the winner’s circle. Under the firm’s strict “up or out” policy, only one in 11 who start make it to senior partner. New associates have six years to make partner — and partners have six more years to make it to director levels. Insiders add that if you don’t like travel, think twice about McKinsey.

Ugly: Allegations of sexual discrimination still plague the firm. Former McKinsey associate Suzanne Porter claims the firm discriminated against her by not promoting her to partner despite outstanding reviews. McKinsey has since settled the suit.

To apply:
Recruiting Administrator
McKinsey & Co. Inc.
55 E. 52nd St.
New York, N.Y. 10022 USA
(212) 446-7993
(212) 446-7200 (fax)
Online Aplication

2. Bain&Co



After being plagued by lawsuits, layoffs and near-bankruptcy in the early 1990s, Bain has leaped back to the top of its game. The firm is ranked among the world’s most prestigious consultants, along with McKinsey and the Boston Consulting Group — which once employed founder William Bain. Bain is rare among major consulting firms for having a woman, Chairman of the Board, Orit Gadiesh, at the top. The firm employs 5.000 consultants.

Specialties: Bain is a world leader in strategy consulting and has a strong international bent. Unlike some other strategy firms, Bain stresses that all its strategy recommendations must be immediately useful. Everything “comes down to what the client will do differently Monday morning,” says Ms. Gadiesh.

Good: Equal in prestige to its close competitors, Bain has a smaller, more congenial feel than larger rivals and views encouraging a friendly environment as a worthwhile expense. Among special touches is the “Bain Band,” an amateur assembly of Bain employee-musicians who serenade fellow “Bainies” at company events. Insiders say pay is generous and raises average more than 15% a year.

Bad: Bain employees must hew to conservative dress codes and travel extensively. Work hours are long as well — consultants can expect to spend at least one day per weekend working or at the airport.

Ugly: Some say (quietly) that Ms. Gadiesh’s purple-red locks and “over-the-top” costume jewelry lean toward “unsightly” considering she’s the head of a major firm.

To apply:
Bain
2 Copley Place
Boston, Mass. 02116
(617) 572 2000
(617) 572 2427 (fax)
Online Aplication

3. The Boston Consulting Group



In an industry where some firms have been accused of using the same research and offering identical solutions to clients, The Boston Consulting Group prides itself on treating each client’s case as a unique problem with a unique solution. BCG is famed for its “BCG Matrix,” a strategy tool which explains the relationship between company profitability and market share. The company has 4,400 consultants.

Specialties: BCG is a strategy consulting firm, known for creating matrices and diagrams to clarify strategy issues. Since 1985, BCG has been especially active in Eastern Europe, advising companies on deregulation and privatization issues.

Good: BCG is known for its attention to quality-of-life issues; while considered as prestigious as McKinsey and Bain, it requires fewer hours weekly — about 55 on average — and consultants can expect a few weekends each month to be their own.

Bad: BCG’s “do-everything-from-scratch” policy can mean extra legwork for employees. The firm also bases bonuses on demonstrated actual performance, which means that when results don’t meet expectations, you shouldn’t expect extra pay.

Ugly: BCG’s graphs and matrices were unique when first introduced in the ’80s; now the firm has lots of competition and the matrix isn’t as glamorous.

To apply (undergrads: include transcript):
Boston Consulting Group
Recruiting Coordinator
135 E. 57th St., 22nd Floor
New York, N.Y. 10022
(212) 446-2800
(212) 754-4424 (fax)
Online Aplication

4. Monitor Co.



Founded by Harvard professors in 1983 and inspired by the teachings of founding member Michael Porter (who first developed the strategy theory “Porter’s Five Forces”), Monitor is a congenial, prestigious 700-consultant firm in Cambridge, Mass.

All Monitor consultants have the same title — consultant. The firm prides itself on being a meritocracy and offers unusually large merit bonuses — as high as 50% of salary.

Specialties: Not surprising for a firm started by academics, Monitor designs theories and programs to ensure successful implementation of its strategy recommendations. For instance, Action Learning is a technique to help circumvent the objections of clients who balk at advice from outsiders and make sure strategic change is long-lasting.

Good: Monitor’s massive performance bonuses and collegial, “almost academic” atmosphere. The latter is especially conducive to personal growth.

Bad: Monitor’s feared interview process features a group interview where stressed-out applicants attempt to solve a problem together, while being silently observed by Monitor interviewers.

Ugly: Lousy typists may want to brush up — Monitor recently downsized nearly all its research and clerical support staff.

To apply:
Monitor Co.
25 First St.
Cambridge, Mass. 02141
(617) 252-2000
(617) 252-2100 (fax)
Online Aplication
Current Job Openings

5. Arthur D. Little



The oldest consulting firm in existence (founded in 1886), ADL is especially known for attention to technological issues and has a staff of innovative engineers and environmental scientists. ADL also runs a patent service, which shepherds inventors through the patent process in return for half of the proceeds. Consulting employees number 1,800.

Specialties: ADL has a more scientific bent than many consulting firms. It’s renowned for environmental consulting practice and operations and information technology consulting. The latter includes recommending appropriate technologies (including e-commerce) and program structures. ADL also has a strategy consulting practice and makes long-term strategy recommendations.

Good: ADL is an “entrepreneurial” firm where all employees hold stock.
Consultants say they “enjoy working on small teams with scientists and other experts.”

Bad: ADL is a hawk about costs; many consultants complain about having to fly coach.

Ugly: Insiders say ADL’s headquarters looks “like an underfunded community college.”

To apply:

Arthur D. Little
25 Acorn Park
Cambridge, Mass. 02140
(617) 498-6933
(617) 498-7140 (fax)
Online Aplication
​

6. Booz Allen & Hamilton



Booz Allen is especially renowned for consulting to government agencies, but also does more than its share of pro bono work with charities and nonprofits. The firm makes a point of integrating client management into its consulting teams and spends about half of its time on implementation — ensuring that recommendations are put into place and work. Booz Allen has 22,000 consultants.

Specialties: Booz Allen offers integrated strategy, operations and information technology consulting to solve “CEO-level” problems. It is well-known for consulting to government agencies and has several specialized government practices, including defense, environment, transportation, space and international government.

Good: Employees at Booz Allen love the “lack of bureaucracy” and resulting flexible schedules and career paths; travel perks also are reputed to be “exceptional.”

Bad: The flip side of independence is “lack of structure and support”; insiders say it’s “difficult to progress without a mentor.”

Ugly: In the past, Booz Allen’s working environment was considered “macho” and “frankly repulsive” to women, but efforts have been made to correct this image.

To apply:
Director of Recruiting
Booz Allen & Hamilton
101 Park Ave.
New York, N.Y. 10178
(212) 697-1900
(212) 551-6732 (fax)
Online Aplication

7. Mercer Management Consulting



Mercer is aggressive and in a hurry to reach the top of the consulting industry. This young, fast-growing subsidiary of Marsh & MacLennan has acquired dozens of smaller firms in the last 14 years. The firm is young; as a hybrid offspring of Temple, Barker & Sloan and Strategic Planning Associates, it took the name Mercer Management Consulting in 1992. The firm has 18.000 consultants.

Specialties: Mercer has four major areas of expertise: financial services, transportation, communications/information/entertainment and a catch-all, mostly manufacturing group. While Mercer is primarily a strategy consulting firm, it often draws on the expertise of consultants from other Marsh & MacLennan groups, including William M. Mercer Cos., National Economic Research Associates and Lippincott & Margulies, involved in, respectively, human resource, microeconomic and identity consulting.


Good: As a subsidiary of a major, publicly traded insurance company, the firm offers “unusually diverse and generous” health-care benefits, says an insider. Other perks, such as stock options, are “juicy as well.” Mercer also gives new consultants the responsibility that can help them grow in their jobs.

Bad: Mercer’s quick growth and frequent acquisitions mean “the bureaucracy is growing almost as fast,” say employees.

Ugly: Mercer employs “case-team associates” — assistants to consultants with less prestigious undergraduate degrees, and tensions have arisen between assistants and consultants of similar age and educational levels.

To apply:
Mercer Management Consulting
2300 N St., N.W.
Washington, D.C. 20037
(202) 778-7000
(202) 293-1371 (fax)
Online Aplication

8. AT Kearney



In 1995, AT Kearney merged with Plano, Texas-based juggernaut Electronic Data Systems (EDS), recently detached from General Motors Corp. Industry observers were skeptical about the success of the union, but the resulting consulting giant, with its strategic and info-tech expertise, has been a resounding success. AT Kearney has 4,700 employees, including 2,700 consultants.

Specialties: AT Kearney offers strategic consulting but is especially well regarded for aerospace, financial, health-care and retail industry specialties. The firm has a strong operations consulting niche and a good track record, deriving more than 75% percent of business from past clients. Its acquisition by EDS, a global information services firm, has vastly improved AT Kearney’s information-technology capabilities.

Good: With its new interest and expertise in technology, the firm is poised to profit from the information-technology boom. Percentage gains in revenues have grown by double digits for 14 years running.

Bad: Straightlaced CEO Fred Steingraber forbids casual days; consultants must wear suits every day.

Ugly: The dearth of women at AT Kearney is “embarrassing” to firm consultants; only five female vice presidents are employed there.

To apply:
AT Kearney
Corporate Recruiting
222 W. Adams St.
Chicago, Ill. 60606
(312) 223-6030
(312) 223-7548 (fax)
Online Aplication

9. Mitchell Madison Group




This new, fast-growing consulting firm was founded in 1995 by refugees from McKinsey & Co. who were frustrated at what they saw as the wasted potential of many good employees. In three years, the firm has grown to 750 consultants from fewer than 50 in 1995, mostly through proficient financial consulting work.

Specialties: Mitchell Madison has made a name by saving companies money. Using its track record in financial institution cost reduction as an entree and concentrating on deregulating industries, Mitchell Madison has won assignments in the automotive, media, petrochemical, pharmaceutical, telecommunications and electronic technology sectors. Major growth areas are health care, chemicals and high technology.

Good: Mitchell Madison’s newness means that dissension and independence aren’t only tolerated, but encouraged; decisions are made in “round table” vs. “hierarchical” fashion.

Bad: Consultants at Mitchell Madison report working extremely long hours, even for management-consulting standards. Having to work 15 hours a day, six days a week, plus half of Sunday isn’t atypical, say employees.

Ugly: A lack of training and clerical support means “you’re out there on your own,” say insiders. And Mitchell Madison has grown so quickly that glitches are inevitable and “somehow become your fault.”

To apply:
Mitchell Madison Group
520 Madison Ave.
New York, N.Y. 10022
Recruiting hotline: (212) 372-9100
Recruiting fax: (212) 372-4408

 

In pursuit of the ultimate...

Winning over oneself is the process of regulating one’s base self by one’s own evolved self, which also resides within — the process of the evolved self leading and instructing by asserting itself and, thus, coming out the ultimate winner.

In essence, ‘victory over oneself’ is the process of channeling one’s base instincts, reactions, impulses and stimuli such that these are transmuted for constructive purposes . After all, most spontaneous and reactive responses , including anger , are external manifestations of abiding energy and creativity within. When these are allowed to run riot, these can mar the person.

However, through awareness , training one’s own responses and right channeling, these can prove to be highly useful. Basing on this concept, therefore, it was rightly stated that, eventually, one becomes his own stumbling block or his own supporting instrument in his attempt to progress.

Progress towards attaining the supreme state of control within should, doubtless, be the ultimate objective of all aspirants . This is not merely because this state confers enduring peace and stability. More importantly , this would be the base and font for fulfilling one’s own specific aspirations and dreams.

This is because of the fact that inbuilt in this state of harmony is that control and ‘flow’ for attaining efficiency and effectiveness , leading to excellence and also felicity in all aspects — be it the needed material acquisitions , trouble-free transactions, fulfilling relationships, natural time management, making up for lost opportunities or whatever , for making the most of life to enjoy it to the hilt.

What, then, is the first step towards progressing towards this state, where one can ‘never know defeat’ — as conceived of by A J Cronin — or ‘becoming one’s own ally and friend’ — as conceived of by Gita?

In fact, no general statement can be made on this, because this progress comprises of various processes and stages, each complimenting and leading to the other, as in a virtuous cycle. In fact, this lends even greater beauty, charm and meaning to the pursuit of this ultimate because refinement and clarity even in one aspect of one’s personality can become the base for reaching out to other virtues, which would naturally follow.

Indeed, this verily is not only avirtuous cycle but an adventurous and fun-filled journey too!