Top Consulting Firms Regional Ranking 2023


“What are the best management consulting firms?” That is no easy question to answer, because there is no specific metric to decide whether a consulting firm is “good”. However, there are a few common concerns – mostly about career tracks and business outlooks.

In this article, I’ll be listing the top consulting firms on the most relevant criteria: salary, work-life balance, prestige, and overall ranking. I’ll also touch on industry expertise, revenue and growth in recent years.  

Top consulting firms – Overview

What are consulting firms?

Consulting firms are businesses that sell professional advice to businesses and organizations, helping them solve problems. They do so through their in-house  experts and/or external experts. Some consulting firms might specialize in one or a few industries and functions, or while others are generalists, covering hundreds or thousands of areas.

Categories of top consulting firms

When the phrase “top consulting firms” is heard, almost everyone imagines McKinsey, BCG and Bain – the “Big Three” consulting firms with the highest prestige. However, “top” or “best” are vague terms, and in the shadows of the MBB firms stand many excellent consultancies, both as service providers and employers.

Consulting firms are divided into many groups, according to size, prestige, as well as areas of specialization. Among the top consulting firms, the most notable groups are:

  • MBB Consulting Firms: MBB stands for McKinsey, BCG and Bain – the three most prestigious consulting firms in the world. Each of these firms charge HUGE amounts for their services, with each project going into the millions of dollars. They hold the highest standards in work quality, and pay the most generous salaries for consultants.
  • Tier 2 Consulting Firms: This group consists of large, global consulting firms, providing services for big clients. The differences between them and MBB firms are the prestige and the price of projects – Tier 2 projects tend to be cheaper, around six-digit numbers. Some famous names in this segment are Accenture, Roland Berger, Oliver Wyman, LEK.
  • Big 4 Consulting Practice: This group consists of the consulting divisions of the Big 4 Accounting Firms – Deloitte, PwC, EY and KPMG (usually with different brand names). These divisions are the largest consulting firms in the world, revenue-wise. Nonetheless, their projects are smaller than MBB, about the same as Tier 2 firms
  • Boutique Consulting Firms: Boutique is a loose term for small, specialized and localized firms, often with an elite status in their target market. These firms often employ less than 500 employees, handling smaller projects than their big generalist cousins. Salaries and benefits vary, but can be competitive with the top firms.
 

Top consulting firms – Vault consulting ranking 2023

All the lists below are compiled by Vault, based on their data on surveys of working consultants. Consultants are allowed to rate only their firm on quality-of-life issues, and only other firms on prestige and practice areas. 

Best consulting firms to work for (global 2023)

This first list scores and ranks each consulting firm based on the following factors:

  • 30% – Prestige
  • 15% – Firm Culture
  • 5% – Satisfaction
  • 0% – Compensation
  • 10% – Work/Life Balance
  • 10% – Level of Challenge
  • 5% – Overall Business Outlook
  • 5% – Promotion Policies

Ranking

Firms

Score

1

Bain & Company

9.383

2

Boston Consulting Group

9.242

3

McKinsey & Company

9.085

4

EY-Parthenon

8.277

5

The Bridgespan Group

7.997

6

ghSMART

7.959

7

Kearney

7.797

8

L.E.K. Consulting

7.772

9

Analysis Group

7.730

10

Alvarez & Marsal

7.721

11

Putnam

7.718

12

PwC Advisory/Strategy&

7.691

13

Roland Berger

7.678

14

Deloitte Consulting LLP

7.671

15

The Cambridge Group, LLC

7.661

16

Cornerstone Research

7.569

17

The Keystone Group

7.542

18

Publicis Sapient

7.508

19

Simon-Kucher

7.484

20

Kaiser Associates

7.436

21

Back Bay Life Science Advisors

7.36

22

ClearView Healthcare Partners

7.352

23

Arthur D. Little

7.325

24

The Brattle Group

7.295

25

OC&C Strategy Consultants

7.281

26

The Chartis Group

7.28

27

Kenway Consulting

7.262

28

Eagle Hill Consulting

7.217

29

Altman Solon

7.213

30

Charles River Associates

7.212

31

Bates White Economic Consulting

7.205

32

Keystone Strategy

7.203

33

Blue Matter Consulting

7.189

34

DeciBio Consulting, LLC

7.184

35

Health Advances

7.179

36

ScottMadden Management Consultants

7.158

37

NERA Economic Consulting

7.139

38

DayBlink Consulting

7.089

39

The Poirier Group

6.994

40

LeapPoint

6.986

41

Epsilon Economics and Epsilon Life Sciences

6.983

42

TriVista

6.975

43

Insight Sourcing Group

6.96

44

Insigniam

6.901

45

Forrester

6.899

46

Kx Advisors

6.873

47

BPM Advisory

6.845

48

Censeo Consulting Group

6.834

49

Ignyte Group

6.816

50

Stax

6.773

Best boutique consulting firms to work for (global 2023) 

Big firm consultants are much more likely to value the prestige of their organization than those who work for boutiques. Hence, the ranking for boutique firms based on the remaining factors that consultants identified as being important to them. The result is weighted as follows:

  • 25% - Firm Culture
  • 20% - Satisfaction
  • 20% - Work/Life Balance
  • 10% - Level of Challenge
  • 10% - Compensation
  • 10% - Overall Business Outlook
  • 5% - Promotion Policies

Ranking

Firms

Score

1

ghSMART

9.757

2

Aminad Consulting

9.582

3

Kenway Consulting

9.203

4

Back Bay Life Science Advisors

9.14

5

Eagle Hill Consulting

9.034

6

The Cambridge Group, LLC

9.002

7

The Bridgespan Group

8.986

8

Stern Value Management

8.962

9

DayBlink Consulting

8.958

10

The Keystone Group

8.95

11

SciVida

8.944

12

ScottMadden Management Consultants

8.928

13

DeciBio Consulting, LLC

8.923

14

Putnam

8.919

15

TriVista

8.884

16

The Poirier Group

8.86

17

Insigniam

8.803

18

The Chartis Group

8.79

19

LeapPoint

8.77

20

Blue Matter Consulting

8.753

21

Kaiser Associates

8.733

22

OC&C Strategy Consultants

8.71

23

Epsilon Economics and Epsilon Life Sciences

8.689

24

Health Advances

8.674

25

Censeo Consulting Group

8.663

Best consulting firms for diversity (global 2023) 

Vault’s survey asked consultants to rate their firm’s diversity with respect to women, with respect to minorities, with respect to gays, lesbians, bisexuals and transgender individuals, with respect to individuals with disabilities, and with respect to armed forces veterans. 

When asking consultants to assess their firm’s diversity in these categories, Vault asked them to think about hiring, promoting, mentoring and other programs.

Ranking

Firms

Score

1

ghSMART

9.327

2

Bain & Company

9.315

3

Boston Consulting Group

9.315

4

McKinsey & Company

9.195

5

BPM Advisory

9.152

6

Insigniam

9.009

7

Eagle Hill Consulting

8.96

8

The Bridgespan Group

8.881

9

LeapPoint

8.876

10

Putnam

8.869

11

EY-Parthenon

8.741

12

ScottMadden Management Consultants

8.729

13

Kenway Consulting

8.728

14

The Poirier Group

8.632

15

Publicis Sapient

8.628

16

Ignyte Group

8.58

17

The Chartis Group

8.488

18

Kearney

8.487

19

Lifescience Dynamics

8.44

20

Health Advances

8.333

21

DeciBio Consulting, LLC

8.31

22

PwC Advisory/Strategy&

8.308

23

Censeo Consulting Group

8.294

24

Epsilon Economics and Epsilon Life Sciences

8.244

25

Syneos Health

8.215

 

2023 Top consulting firms by compensation, benefits and work/life balance

Read more: Salary of Top Consulting Firms 2023: Detail & Comparison

The following lists feature the top consulting firms in three key regions: global, EMEA (Europe, the Middle East and Africa), and Asia-Pacific. These firms are evaluated based on three essential criteria: compensation, benefits, and work-life balance.

The firms are scored and ranked by Vault, using surveys of working consultants, who are allowed to rate only their firm.

Best consulting firms by compensation (global 2023)

Ranking

Firms

Score

1

ghSMART

9.758

2

Boston Consulting Group

9.593

3

Bain & Company

9.556

4

Kenway Consulting

9.054

5

McKinsey & Company

9.024

6

DayBlink Consulting

8.952

7

The Cambridge Group, LLC

8.903

8

Cornerstone Research

8.894

9

Roland Berger

8.735

10

EY-Parthenon

8.645

11

Publicis Sapient

8.535

12

Alvarez & Marsal

8.529

13

LeapPoint

8.489

14

Keystone Strategy

8.477

15

Altman Solon

8.292

16

The Chartis Group

8.286

17

Epsilon Economics and Epsilon Life Sciences

8.195

18

Stax

8.179

19

The Bridgespan Group

8.095

20

Analysis Group

8.091

21

The Poirier Group

8.08

22

OC&C Strategy Consultants

8.075

23

Blue Matter Consulting

8.014

24

Kearney

8.009

25

L.E.K. Consulting

7.983

Best consulting firms by compensation (EMEA 2023)

Ranking

Firms

Score

1

Publicis Sapient Europe

8.962

2

Bain & Company Europe

8.932

3

Advancy

8.89

4

Roland Berger Europe

8.85

5

Implement Consulting Group

8.676

6

Kx Advisors EMEA

8.6

7

OC&C Strategy Consultants Europe

8.597

8

McKinsey & Company Europe

8.282

9

Blue Matter Consulting - Europe

8.226

10

Kaiser Associates EMEA

8.188

11

Alvarez & Marsal Europe

8.174

12

Kearney EMEA

8.152

13

Strategy&, Part of the PwC Network, Europe

8.149

14

Teneo Consulting

8.063

15

Prescient Healthcare Group EMEA

7.925

Best consulting firms by compensation (Asia-Pacific 2023)

Ranking

Firms

Score

1

Bain & Company Asia

8.971

2

The Brattle Group Asia

8.25

3

McKinsey & Company Asia-Pacific

8.246

4

Advancy Asia

8.059

5

OC&C Strategy Consultants Asia

8.056

6

Kearney Asia-Pacific

7.838

7

AWR Lloyd

7.816

8

Roland Berger Asia

7.692

9

L.E.K. Consulting Asia

7.683

10

Kmind

7.583

11

Alvarez & Marsal Asia

7.561

12

Syneos Health Asia

7.508

13

Arthur D. Little Asia

7.448

14

Publicis Sapient Asia-Pacific

7.394

15

Avalon Consulting

7.161

Best consulting firms by benefits (global 2023)

Ranking

Firms

Score

1

Boston Consulting Group

9.807

2

Bain & Company

9.746

3

McKinsey & Company

9.705

4

DayBlink Consulting

9.476

5

Analysis Group

8.957

6

Eagle Hill Consulting

8.93

7

OC&C Strategy Consultants

8.902

8

Keystone Strategy

8.8

9

Cornerstone Research

8.766

10

ghSMART

8.75

11

The Bridgespan Group

8.747

12

Roland Berger

8.645

13

The Cambridge Group, LLC

8.645

14

Epsilon Economics and Epsilon Life Sciences

8.585

15

Insigniam

8.565

16

Altman Solon

8.559

17

Putnam

8.5

18

TriVista

8.488

19

Kenway Consulting

8.474

20

The Brattle Group

8.411

21

EY-Parthenon

8.38

22

ScottMadden Management Consultants

8.358

23

Censeo Consulting Group

8.308

24

Bates White Economic Consulting

8.294

25

Applied Value

8.289

Best consulting firms by benefits (EMEA 2023)

Ranking

Firms

Score

1

Advancy

9.137

2

Roland Berger Europe

9.102

3

McKinsey & Company Europe

9.072

4

Bain & Company Europe

8.966

5

Publicis Sapient Europe

8.962

6

Kearney EMEA

8.435

7

Implement Consulting Group

8.415

8

OC&C Strategy Consultants Europe

8.287

9

Applied Value Europe

8.125

10

Strategy&, Part of the PwC Network, Europe

8.014

11

Teneo Consulting

7.922

12

Blue Matter Consulting - Europe

7.903

13

Prescient Healthcare Group EMEA

7.885

14

PMP Strategy

7.782

15

Emerton Europe

7.743

Best consulting firms by benefits (Asia-Pacific 2023)

Ranking

Firms

Score

1

Bain & Company Asia

9.278

2

The Brattle Group Asia

9.083

3

McKinsey & Company Asia-Pacific

8.969

4

Roland Berger Asia

8.55

5

Kmind

8.438

6

Advancy Asia

8.059

7

Kearney Asia-Pacific

7.866

8

L.E.K. Consulting Asia

7.794

9

OC&C Strategy Consultants Asia

7.667

10

Syneos Health Asia

7.627

11

Redseer Strategy Consultants

7.335

12

Alvarez & Marsal Asia

7.253

13

AWR Lloyd

7.167

14

Avalon Consulting

6.855

15

Grant Thornton Australia

6.759

Best consulting firms by work/life balance (global 2023)

Ranking

Firms

Score

1

ghSMART

9.788

2

Eagle Hill Consulting

9.534

3

Back Bay Life Science Advisors

9.462

4

Bain & Company

9.338

5

Kenway Consulting

9.316

6

Ignyte Group

9.147

7

Insigniam

9.091

8

Epsilon Economics and Epsilon Life Sciences

9.05

9

Censeo Consulting Group

9.038

10

ScottMadden Management Consultants

9.019

11

Health Advances

9

12

Publicis Sapient

8.976

13

BPM Advisory

8.975

14

The Cambridge Group, LLC

8.938

15

LeapPoint

8.935

16

DeciBio Consulting, LLC

8.921

17

Blue Matter Consulting

8.917

18

Boston Consulting Group

8.895

19

The Bridgespan Group

8.814

20

Insight Sourcing Group

8.813

21

Putnam

8.772

22

Manifold Group

8.714

23

Kaiser Associates

8.708

24

Jabian Consulting

8.699

25

Arthur D. Little

8.667

Best consulting firms by work/life balance (EMEA 2023)

Ranking

Firms

Score

1

Publicis Sapient Europe

9.615

2

Mansfield Advisors LLP

9.609

3

Forrester Europe

9.04

4

Blue Matter Consulting - Europe

8.906

5

Implement Consulting Group

8.898

6

Roland Berger Europe

8.836

7

CIL Management Consultants

8.807

8

Bain & Company Europe

8.767

9

OC&C Strategy Consultants Europe

8.656

10

Axel Springer hy GmbH

8.647

11

Teneo Consulting

8.523

12

Kx Advisors EMEA

8.5

13

Kaiser Associates EMEA

8.375

14

McKinsey & Company Europe

8.303

15

Prescient Healthcare Group EMEA

8.283

Best consulting firms by work/life balance (Asia-Pacific 2023)

Ranking

Firms

Score

1

Bain & Company Asia

9.27

2

McKinsey & Company Asia-Pacific

9.197

3

Grant Thornton Australia

9.115

4

OC&C Strategy Consultants Asia

9.1

5

Publicis Sapient Asia-Pacific

8.879

6

Syneos Health Asia

8.508

7

Roland Berger Asia

8.415

8

Forrester Asia

8.389

9

AWR Lloyd

8.103

10

L.E.K. Consulting Asia

8.061

11

Kearney Asia-Pacific

8.025

12

Strategy&, Part of the PwC Network, Asia-Pacific

7.917

13

Tech Mahindra Asia

7.886

14

Simon-Kucher Asia-Pacific

7.854

15

Advancy Asia

7.778

 

Top consulting firms by prestige 2023

In this section, survey respondents were asked to rate consulting firms on prestige using a scale from 1 to 10, excluding their own firm and rating only those firms with which they were familiar.

Vault's prestigious consulting firms are determined by practicing consultants themselves, not influenced or chosen by Vault. These rankings focus on perceived prestige as evaluated by consulting professionals, rather than revenue, size, or lifestyle.

Most prestigious consulting firms (NA 2023)

Ranking

Firms

Score

1

McKinsey & Company

9.058

2

Boston Consulting Group

8.948

3

Bain & Company

8.903

4

Deloitte Consulting LLP

7.173

5

EY-Parthenon

7.013

6

PwC Advisory/Strategy&

6.798

7

Booz Allen Hamilton

6.627

8

Accenture

6.623

9

Ernst & Young (Consulting Practice) NA

6.62

10

Oliver Wyman

6.611

11

L.E.K. Consulting

6.435

12

KPMG LLP (Advisory)

6.292

13

Kearney

6.29

14

Lockheed Martin Corporation (IT Consulting)

6.25

15

IBM Global Business Services

6.067

16

Gartner

5.991

17

The Bridgespan Group

5.846

18

Northrop Grumman Corporation (IT Consulting)

5.665

19

Mercer LLC

5.66

20

Alvarez & Marsal

5.658

21

ZS

5.584

22

AlixPartners, LLP

5.545

23

Charles River Associates

5.511

24

Analysis Group

5.445

25

Roland Berger

5.429

Most prestigious consulting firms (EMEA 2023)

Ranking

Firms

Score

1

McKinsey & Company

9.105

2

Boston Consulting Group Europe

8.887

3

Bain & Company Europe

8.48

4

Oliver Wyman Europe

6.904

5

Kearney EMEA

6.579

6

Roland Berger Europe

6.528

7

Strategy&, Part of the PwC Network, Europe

6.33

8

EY-Parthenon Europe

6.054

9

L.E.K. Consulting Europe

5.894

10

Simon-Kucher Europe

5.739

11

OC&C Strategy Consultants Europe

5.714

12

PwC (PricewaterhouseCoopers) International Ltd.

5.688

13

Deloitte (European Consulting Practice)

5.663

14

Accenture Europe

5.452

15

Arthur D. Little EMEA

5.37

16

AlixPartners Europe

5.303

17

EY (Ernst & Young) Consulting Practice Europe

5.185

18

Alvarez & Marsal Europe

5.091

19

IBM Global Services Europe

5.091

20

Porsche Consulting GmbH

5.084

21

Gartner Europe

5.012

22

KPMG (Europe Consulting Practice)

4.938

23

Mercer Limited Europe

4.838

24

Capgemini Europe

4.829

25

IQVIA Europe

4.75

Most prestigious consulting firms (Asia-Pacific 2023)

Ranking

Firms

Score

1

McKinsey & Company Asia-Pacific

9.123

2

Boston Consulting Group Asia

8.774

3

Bain & Company Asia

8.693

4

Kearney Asia-Pacific

7.147

5

Oliver Wyman Asia-Pacific

6.824

6

Deloitte (Asia Consulting Practice)

6.668

7

Strategy&, Part of the PwC Network, Asia-Pacific

6.62

8

EY-Parthenon Asia-Pacific

6.618

9

PwC Asia (Consulting)

6.545

10

Roland Berger Asia

6.51

11

L.E.K. Consulting Asia

6.502

12

Accenture Asia

6.474

13

EY (Ernst & Young) Consulting Practice Asia

6.288

14

KPMG (Asia Consulting Practice)

6.204

15

IBM Global Services Asia

6.107

16

Gartner Asia Pacific

6.075

17

ZS Asia-Pacific

6.004

18

Mercer Limited Asia

5.95

19

Arthur D. Little Asia

5.912

20

Alvarez & Marsal Asia

5.835

21

Capgemini Asia

5.711

22

OC&C Strategy Consultants Asia

5.683

23

Tata Consultancy Services Asia

5.679

24

IQVIA Asia

5.592

25

Cognizant Asia-Pacific

5.529

 

Top consulting firm by industry 2023

The following lists consist of the best consulting firms in each industry, which is compiled by Vault using surveys of working consultants. 

Consultants are asked to vote for 3 firms as the best in each industry, but not allowed to rank their own firm. The “%” is the percentage of consultants who vote for that firm as the best in the given industry.

Best management consulting firms (global 2023)

Ranking

Firms

% of Votes

1

McKinsey & Company

71.19

2

Boston Consulting Group

69.79

3

Bain & Company

63.89

4

Deloitte Consulting LLP

18.56

5

Accenture

12.09

6

Ernst & Young (Consulting Practice) NA

7.71

7

PwC Advisory/Strategy&

6.06

8

KPMG LLP (Advisory)

5.79

9

Booz Allen Hamilton

5.19

10

Oliver Wyman

4.46

11

EY-Parthenon

4.17

12

L.E.K. Consulting

3.06

13

Kearney

2.87

14

Advancy NA

2.22

15

AlixPartners, LLP

2.03

Best strategy consulting firms (global 2023)

Ranking

Firms

% of Votes

1

Bain & Company

74.18

2

Boston Consulting Group

70.7

3

Deloitte Consulting LLP

19.48

4

Accenture

14.53

5

EY-Parthenon

13.06

6

Oliver Wyman

12.21

7

PwC Advisory/Strategy&

10.58

8

L.E.K. Consulting

9.77

9

Ernst & Young (Consulting Practice) NA

6.96

10

KPMG LLP (Advisory)

6.37

11

Kearney

5.3

12

Advancy NA

2.26

13

IBM Global Business Services

2.04

14

AlixPartners, LLP

1.8

15

Roland Berger

1.69

Best financial consulting firms (global 2023)

Ranking

Firms

% of Votes

1

Boston Consulting Group

32.22

2

Ernst & Young (Consulting Practice) NA

32.12

3

Bain & Company

31

4

Deloitte Consulting LLP

30.27

5

KPMG LLP (Advisory)

22.3

6

PwC Advisory/Strategy&

18.27

7

Accenture

15.01

8

Oliver Wyman

13.75

9

FTI Consulting, Inc.

8.65

10

Booz Allen Hamilton

7.58

11

AlixPartners, LLP

6.17

12

Alvarez & Marsal

5.93

13

L.E.K. Consulting

5.54

14

Grant Thornton LLP (Consulting Practice)

4.81

15

Charles River Associates

2.87

Best healthcare consulting firms (global 2023)

Ranking

Firms

% of Votes

1

Boston Consulting Group

30.48

2

ZS

22.47

3

L.E.K. Consulting

21.97

4

Bain & Company

20.36

5

ClearView Healthcare Partners

19.41

6

IQVIA (formerly IMS Consulting Group)

17.3

7

Deloitte Consulting LLP

14.29

8

Accenture

10.85

9

Huron

9.68

10

Trinity Life Sciences

9.29

11

KPMG LLP (Advisory)

6.56

12

Ernst & Young (Consulting Practice) NA

6.4

13

Putnam

5.9

14

Charles River Associates

5.67

15

Oliver Wyman

5.67

Best IT consulting firms (Operations) (global 2023)

Ranking

Firms

% of Votes

1

Accenture

56.98

2

IBM Global Business Services

23.42

3

Deloitte Consulting LLP

22.12

4

KPMG LLP (Advisory)

13.01

5

Capgemini

12.23

6

Boston Consulting Group

11.1

7

Bain & Company

10.75

8

Infosys Consulting

9.8

9

Cognizant

9.54

10

Tata Consultancy Services

8.76

11

Booz Allen Hamilton

8.41

12

PwC Advisory/Strategy&

8.15

13

Slalom Consulting

5.64

14

Wipro Limited

3.82

15

Gartner

3.56

Best IT consulting firms (Strategy) (global 2023)

Ranking

Firms

% of Votes

1

Accenture

58.9

2

IBM Global Business Services

26.38

3

Deloitte Consulting LLP

25.35

4

Boston Consulting Group

16.38

5

Bain & Company

12.83

6

PwC Advisory/Strategy&

10.24

7

Capgemini

10.16

8

KPMG LLP (Advisory)

8.58

9

Infosys Consulting

8.5

10

Booz Allen Hamilton

7.95

11

Cognizant

7.87

12

Gartner

7.17

13

Tata Consultancy Services

6.14

14

Lockheed Martin Corporation (IT Consulting)

4.57

15

Slalom Consulting

4.49

Best technology/media/telecommunications consulting firms (global 2023)

Ranking

Firms

% of Votes

1

Boston Consulting Group

37.93

2

Bain & Company

34.86

3

Accenture

34.27

4

Deloitte Consulting LLP

20.92

5

Ernst & Young (Consulting Practice) NA

11.14

6

KPMG LLP (Advisory)

10.03

7

IBM Global Business Services

9.86

8

PwC Advisory/Strategy&

9.1

9

Booz Allen Hamilton

8.93

10

Gartner

7.23

11

L.E.K. Consulting

7.06

12

Capgemini

5.61

13

Slalom Consulting

4.51

14

Kearney

4.08

15

Cognizant

3.32

 

Largest consulting firms by revenue

The following lists consist of the largest consulting firms in December 2022, measured by consulting revenue generated in 2022 (revenue from other areas of business – such as auditing, accounting or other professional services is not counted).

Due to variations in methodology and definitions, data from different sources may yield different listings.

Largest consulting firms by revenue (global 2022)

Ranking

Firms

Revenue

1

Accenture Consulting

$34B

2

Deloitte Consulting

$25.8B

3

Tata Consulting Services

$23.9B

4

PwC Advisory

$20.7B

5

Capgemini Consulting

$ 18.7B

6

Cognizant Technology Solutions

$16.8B

7

Infosys Consulting

$16.3B

8

Ernst & Young Advisory

$13.8B

9

KPMG Advisory

$13.6B

10

CGI Group

$12.1B

11

Cisco Systems Consulting

$12B

12

The Boston Consulting Group

$11B

13

McKinsey & Company

$10.5B

14

Booz Allen Hamilton

$8.3B

15

HP Enterprise Technology Services

$7.8B

16

Bain & Company

5.8B

17

Mercer LLC

$5B

18

IBM Global Services

$4.7B

19

SAP Services Consulting

$3.5B

20

Oracle Consulting

$3.4B

 

Which firm should I choose?

Short-term perspective vs long-term perspective

The choice of firm should depend on what you want out of a consulting career. Most people approach a consulting career in two ways: the short-term “three-years-then-out” and the long-term consultant.

  • In short terms, for building your professional portfolio and network, consulting is a no-brainer – that is, if you can get in. For this approach, MBB firms are undoubtedly the best options, firstly for the prestige, and secondly for the excellent learning and networking environment. Next down the line are Tier 2 and Big 4 groups, then the boutique firms.
  • In long terms, however, it ultimately boils down to your skill set and preferences. Working at large firms such as MBB can be extremely stressful, but they offer better salaries and benefits. Smaller boutiques offer less, but allow you to preserve some work-life balance and sanity.

Either way, consulting firms are highly selective about their candidates; at MBB firms, the acceptance rate is even lower than 1%; even the small boutiques need to keep their standards up to maintain their work quality and reputation.

You can start your prep process and enhance your chance at these top firms by subscribing to our newsletter, our Youtube channel, and read other articles on this website on specific consulting firms, resume writing, test preparation, and case interviews.

Which firm in MBB is good for me?

When considering MBB (McKinsey, BCG, Bain) consulting firms, it is essential to understand their distinctions. Each firm possesses its own unique strengths and specializes in specific areas. 

The choice of the most suitable firm depends on your individual goals. You can refer to some of the following things to evaluate which consulting firm is best for you:

McKinsey is generally the most prestigious 

McKinsey is widely recognized as the leading consulting firm globally, known for its prestigious reputation. It is an ideal choice if you want to build a strong profile and gain valuable experience before exploring other career options.

Compared with the other two, McKinsey boasts a vast support network, including influential individuals and organizations from different sectors. This network provides valuable resources and connections, empowering McKinsey consultants to focus on their responsibility. 

McKinsey is the strongest of the MBB firms in the public sector (i.e. governments and NGOs). If you plan to join these organizations later on, McKinsey is the way to go.

Bain tent to be more homely

Unlike McKinsey, Bain is well-known for its homely working environment, focusing on creating a friendly and supportive culture. It's a great choice if you value work-life balance and a more relaxed atmosphere.

At Bain, you can expect a friendly and collaborative work environment with fewer travel requirements. This means you can work comfortably without extensive time away from home.

Working at Bain offers the advantage of diverse tasks. You will have the opportunity to work on various projects and industries, which helps you grow professionally and gain a broader skill set.

Bain stands out in MBB firms regarding financial projects, particularly in funds and private equity. The firm has a strong reputation for delivering exceptional results in these areas. 

BCG is the balanced one

BCG strikes a balance between prestige and a homely working environment, compared with Bain and McKinsey. It offers a prestigious reputation along with a pleasant work atmosphere.

BCG's recruitment process is also rigorous. However, according to reports, they seem to be more open with candidates from academic backgrounds compared with McKinsey and Bain.

BCG excels in transformation and merging projects for corporate groups. They have a strong focus on these areas and provide ample opportunities for you to gain valuable experience and expertise in this field. 

Each office is different!

In conclusion, although the rankings provided are based on actual survey data, it is important to note that they represent global or continent-wide averages. 

Each consulting firm has multiple offices in different regions, and the working styles and cultures can vary significantly. 

To obtain the most accurate information, networking with individuals currently working in specific offices is the best approach. They can provide firsthand insights into the nuances and differences within each firm's regional branches.

 

Where can I find consulting jobs?

If you live in the USA – the home of management consulting itself – you can find vacancies right here at our partner Jooble.org.

They are one of the largest employment websites worldwide, with over 2,000,000 users daily, where you can find some 1,000,000 jobs from 21,000 sites. You can find many boutique and start-up consulting firms here – those with much less publicity than the MBB/Big 4 giants, those you won’t easily find elsewhere online.

At MConsultingPrep, we believe anyone can make it to consulting!

Read next

MBB vs Big Four: Which One Should You Choose?

While the three MBB firms are considered the most prestigious firms in the consulting industry, the Big Four firms are the four largest by number of personnel.

Salary of Top Consulting Firms 2023: Detail & Comparison

At top consulting firms, entry-level management consultants may earn $100,000/year (bonuses & profit), while senior consultants may earn up to $200,000.

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