I would like to know how individual performance KPIs are set for associate consultant--consultant roles at Tier 1 and 2 consulting firms. Typically what are the KPIs for new consultants and how do KPIs change as one moves from an Associate Consultant to a Consultant profile.
What are the KPIs for AC/Consultant roles and how are they set?
In the consulting companies usually, you have a person who is collecting the feedback on you. It's called courier counselor, DGL, etc. Depending on your role it can be the Principal, Partner or Director who is collecting the feedbacks. The feedbacks are provided by the Managers and other partners you worked with according to certain criteria (different across the companies, but what matters is the overall score).
Every certain period of time there is an evaluation process when all the leadership of the office gets together and your case is presented. On these meetings, you get a certain performance rating (Can have different names but usually it's a performance scale). Then it's communicated to you directly.
All in all, if you are a top performer you have more flexibility in choosing the projects, faster career growth, get higher bonuses and relocation opportunities.
For Bain you get evaluated across 3 main areas, your problem solving ability, ability to drive results for the client, and your ability to work in teams. Each of these three is then broken down into even more detailed skills and you are given a score for each. The required skills will vary by your role in the firm. Your manager on the case will be responsible for the end of case evaualation.
After each case you will receive the evaluation that is then aggregated into a wider review that is conducted on a bi-annual basis or so for the entire office. Your results are then calibrated vs. your peers and this then forms the basis for your potential promotion to the next level.
The top level categories will typically remain the same but the required skills change as you progress and what you are expected to do is different. As an associate consultant the skills matrix will be much more geared toward the ability to deliver high quality analysis (problem solving) where as a consultant you will be expected to deliver more value in terms of working with clients for example.