How prestigious are McKinsey, BCG and Bain?
MBB/Big 3 vs other consulting firms
MBB firms have much higher prestige score (vault 2020)
While McKinsey almost reaches the score of 9, Bain and BCG are both above the score of 8.6; the highest score of the Big 4 group is only 7.1. Other firms, on the other hand, all scored below 7. In other words, the majority of people in consulting fields agree that MBB are the best firms when it comes to prestige.
McKinsey & Company
Boston Consulting Group
Bain & Company
Deloitte Consulting LLP
Booz Allen Hamilton
EY (Ernst & Young)
LLP Consulting Practice
KPMG LLP (Advisory)
MBB consultants will land at top executives after exiting
With an MBB brand name on your resume, you will generally get into C-level/top executive roles at big companies of different industries.
This is because any consultant from MBB companies will likely have cultivated the skills, network and credibility that open up options from a wide variety of roles and industries. The Big 3 firms all have a rigorous selection process, much harder than any other companies, so having made it through these selecting rounds and became an MBB consultant shows you’re a candidate of high-caliber in the recruiters’ eyes.
Alumni from MBB companies can apply for a high-level position at the Big 4 firms with a higher paycheck. However, it does not work the other way around. A Big 4 alumni need to work their way up in the traditional career path at MBB.
MBB’s projects are more expensive and high-level
McKinsey vs Bain vs BCG
McKinsey is more well-known than BCG and Bain
First, on a fact-based perspective, when comparing the interest people show in each of these three firms over the past 12 months, unsurprisingly, the average number of people who actively search for McKinsey & Company is more than double those of Bain & Company and Boston Consulting Group. This insight is concluded based on the data on Google Trends.
Also, if one gets offers from all MBB firms, he/she would most likely join McKinsey.
McKinsey is the largest “CEO factory”
They produce the most Fortune 500 CEOs. Many McKinsey alumni run companies with more than $1 billion in annual sales. According to one estimate, McKinsey alumni have a 1 in 690 chance of securing a CEO position at one of the 1,187 publicly traded companies valued at a minimum of $2 billion in market capitalization.
McKinsey charges higher than BCG and Bain
Management consulting is an industry providing expensive and professional advice to organizations to improve their overall performance, through better “management”, which includes strategy, governance, operation, organization, finance, and marketing. The three most prestigious management consulting firms are McKinsey, BCG, and Bain (the Big Three).