I worked at IBM full-time (More than a year)
Consulting for IBM was great if you have a project. I worked with some of the smartest people in the field. The problems facing any firm are unique but some were truly challenging and I enjoyed that. IBM is successful due to there are solid business relationships built 99% of the time. You are always working with a goal in view. The work place is never idle and the stress is high so as a workaholic its a great environment to feed your addiction to success. Clients of IBM are astounded with the results, and will recommend consults to other company's.
As in any consulting firm after completion of your project you must find of create other projects to stay off the bench. It is always expected to work long hours so work family balance is almost nonexistent. You are responsible for all of your own administrative issues rather then having a Human Resources department. Layoffs are common. I was laid off due to company realignment, and that's just the way the cookie crumbles.
Advice to Management
As an former employee of IBM I can say the approach to business consultation is spot on. Some managers need to conduct more research on their employees projects. Deadlines for administrative paperwork are sometimes impossible to meet due to project challenges.
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