We put MBB — McKinsey, Bain, BCG — in its own category, MBB. Each company has a foundation in the core strategy, but now it also offers many other services. And each has a level of prestige that is high enough to create the need for a separate category. Which are the main consulting firms? While it sometimes seems like everyone wants to get into the top 3 strategy consulting firms McKinsey, Boston Consulting Group (BCG) and Bain & Company (Bain), also known as MBB, it's worth noting that there are several other major consulting firms that can give a real boost to a career.
While McKinsey, Bain, or BCG probably provide the most powerful resume augmentation, each of the top consulting firms has a combination of size and prestige that can take you places. Below is a list of the top consulting firms evaluated for their performance in several different categories:. McKinsey employees have excellent learning and networking opportunities. However, they tend to have an intense lifestyle with a lot of travel, face-to-face commitments and long hours as a result.
If you are interested in a career with a lot of travel, this could be a good place for you. McKinsey is widely regarded as one of the best options for building a high-level career. Due to their competitive environment, there is sometimes a high turnover among young consultants. However, those who persevere are rewarded with great opportunities.
McKinsey is the definition of competitive. It has an academic culture focused on continuous improvement, intellectual rigor and factual analysis skills are vital components of success, as well as a positive attitude with an optimistic approach. Feedback is frequent and expected across the organization. Entrepreneurs who don't need concrete, heavily enforced rules tend to flourish in McKinsey.
Diversity in McKinsey is affected to some extent by preference for candidates from target universities such as Oxford, Harvard, Stanford or Yale. Many older candidates started with companies like Goldman Sachs or Procter & Gamble. Work-life balance is comparable to Boston Consulting Group or McKinsey. The hours, although flexible, can be long and travel is a weekly reality.
Scheduling and workload can be unpredictable according to the needs of individual hires. With many exciting global perspectives, Oliver Wyman continues to grow. Work-life balance may be affected as a result of consultant success. Their focus on financial services can make for an intense work environment.
Over 90% of Employees Surveyed on Glassdoor Would Recommend Oliver Wyman to Friends; 98% Approve CEO. Consultants praise “intelligent”, realistic and “genuine” workforce, which leads to an atmosphere of collaboration and support. Oliver Wyman is considered to have a fun, collegial environment in the junior ranks, helping new staff adapt quickly to strenuous responsibilities right from the start. However, consultants must work hard to get noticed.
Employees Praise Oliver Wyman Diversity Policies. A global staffing model allows for geographical flexibility and great exposure to other cultures that don't excel elsewhere. Oliver Wyman focuses growth on a performance-based model that weighs heavily on past experience and current performance versus time spent in a given position. Workflow mentoring and leadership roles are available as soon as two years after graduation.
An advanced degree is not required, and the consulting firm lacks the typical “up or out” pressure. Work-life balance is relatively strong at Booz Allen Hamilton. Because of the focus on federal consulting, consultants don't have to travel as much as they do at other consulting firms. But other factors, such as deadlines, billable hour targets, and demanding customers, are similar to those of the competition.
Employee satisfaction with Booz Allen Hamilton has varied over the years due to major strategic moves and C-level decisions. About 75% of Glassdoor respondents recommend it, but some have complained that the salary is becoming less competitive with a lower salary at the entry levels. Booz Allen Hamilton demonstrates commitment to inclusion comparable to that of market leaders. That includes inclusive and non-traditional hiring, as well as benefits extended to domestic partners and adoptive parents, frequent reporting on diversity achievement, and affinity groups.
Deloitte has some turnover and morale issues due to its challenging work culture. However, it also touts itself as one of the top consulting firms for rapid professional growth. Deloitte stands out for an unconventional environment with a young and vibrant community. The emphasis is on teamwork rather than internal competition.
Expectations are high and analyses can be quite detailed, requiring high academic performance from all contributors. A strong work ethic, a multidisciplinary structure and a meritocratic approach lead to rapid development. Deloitte was recently named one of the best workplaces for women. He has long championed inclusion as a partial solution to business challenges such as turnover, productivity, profitability and customer satisfaction.
Deloitte's professional development includes a set of six industry-standard features with 2 or 3 years of experience per level. Lower levels at Deloitte tend to have very low turnover relative to the industry average. Top-tier consulting firms are collectively known as MBB, which stands for McKinsey, BCG and Bain. These three companies are the most prestigious Management Consulting firms to work for.
The Big Three or MBB refers to the name colloquially given to three large strategy consulting firms. They are considered to be the most prestigious firms in the management consulting industry. In terms of employees and revenues, McKinsey is the largest, followed by Boston Consulting Group and Bain & Company. McKinsey & Company is a world-renowned management consulting firm.
The company is headquartered in the United States and was founded 92 years ago, in 1926, by James O. McKinsey and Marvin Bower. The boutique strategic consulting firm Kaiser Associates was founded in 1981 with the basic but insightful mission of helping executives make informed strategic and operational decisions by incorporating external knowledge and analysis. This consulting firm has become known for its new private equity practice, which has delivered exceptional results for many clients.
Ernst & Young's consulting business is known for its services similar to those provided by other consulting firms. PricewaterhouseCoopers offers insurance, advisory, tax advice, strategic consulting, tax controversy, data and analysis, management consulting, financial, actuarial and legal advice. Here, we have first organized this list around the types of consulting firms and then alphabetically within each category. The firm is consistently ranked as the fourth most prestigious consulting firm (after MBB) and has more than 334,000 professionals worldwide.
Serving a group of global brands and leading law firms from its offices in Boston, San Francisco, New York City and Seattle, Keystone Strategy offers strategic and economic consulting driven by an entrepreneurial spirit, as well as a dedication to collaborating with clients and peers. Pursuing Grant Thornton's purpose of making business more personal and building trust in every outcome, Grant Thornton consultants focus on relationships, quality and comprehensive service. Now, it is a major management consulting and professional services firm focusing on consulting, software and technology and serving clients in healthcare, private equity and technology. The company's robust training programs and fun social life eliminate the limit of hard work and long hours, but it's “ready or out” for consultants (“up or out” refers to the mindset a consultant needs to reach a certain level in the company at a given time or could be fired).
Founded in 2002 by consulting alumni from companies such as Accenture and Deloitte, the firm takes special pride in helping clients overcome the challenges (and costs) of procurement and sourcing. Keystone's extensive experience in strategy, economics, data analysis, product development, intellectual property and antitrust make her stand out in the consulting industry. Long hours and high standards are offset by a collaborative, team-centric atmosphere, where senior consultants act as mentors. Founded in New York City in the mid-1980s (by former Booz partners Allen Hamilton, Alex Oliver and Bill Wyman), the firm has become the fastest growing management consultancy firm today.
The culture of this consultancy firm focuses more on creative and innovative thinking than on many of its main rivals. Taking on companies such as Bain, McKinsey and BCG, as well as other strategic consulting subsidiaries for the big four firms, EYP often outperforms its competitors in industry rankings by focusing on its ambitious corporate strategy and private equity commitments. . .