The acronym “MBB” is a prestigious name that inspires awe, admiration and even envy in the management consulting industry. It stands for McKinsey & Company, Boston Consulting Group and Bain & Company, the three most prestigious firms in the industry (also known as the “Big Three”). They are notoriously selective in terms of suitability, so any candidate would have to draft a persuasive request addressed to a particular MBB consulting firm they are addressing. Among the MBB firms, McKinsey is the most well-known and respected, both within and outside the industry.
This is due to their early and continued success in maintaining extremely high standards in hiring and project results. As mentioned earlier, the CEO of Bain & Company, Manny Maceda, has a 98% approval rating on Glassdoor, reflecting the good treatment the company's employees receive. In fact, Bain has been the only MBB that has consistently been on Glassdoor's annual list of the 100 best companies for the past ten years. The company also regularly wins Best Employer Awards and has a strong reputation for its focus on work-life balance.
If strategic consulting isn't your goal, then another consultancy other than MBB might be a better fit for you. Ultimately, this translates into more interesting consulting projects, as most of the world's best companies hire MBB for their business needs. When consultants talk about their work at MBB consulting firms, they don't just emphasize prestige. As an MBB consultant, you'll be exposed to the smartest management teams and the most interesting and complex problems on a global scale.
We're going to dive right into the unique aspects of MBB that make them stand out from the rest of the group. While most MBB consultants value experience and don't regret it, there are still downsides to working at the best consulting firms in the world. Regardless of whether you find the job stimulating, consulting at MBB is not for the faint of heart. Of all the MBB firms, Bain's business culture is probably closest to the well-known adage “work hard, play hard”.MBB also bills per project (not per hour), so consultants are encouraged to find the best solution in the shortest possible time.
This encourages creativity and innovation in problem-solving as well as an efficient use of resources. If you're considering a career in management consulting, it's important to understand what sets MBB apart from other consulting firms. They have a long history of success and are renowned for their high standards in hiring and project results. They also offer unique opportunities to work with some of the smartest management teams and tackle complex problems on a global scale. However, it's important to remember that working at an MBB firm is not for everyone - it requires hard work and dedication.