The top pharmaceutical consulting firms consist of big names like the MBB, the Big 4, as well as healthcare/pharma specific consultancies like ClearView and IQVIA. This article will provide brief definitions and rankings of best pharmaceutical consulting firms in the industry.
What is pharmaceutical consulting?
Pharmaceutical consulting helps… pharmaceutical companies
In management consulting, pharmaceutical consulting firms help on the development & sales of drugs & pharmaceuticals. Consultants have expert knowledge on industry regulations so that they can aid and better enable companies to effectively deliver medical treatments.
Pharmaceuticals is an industry classification of management consulting, itself may include smaller branches such as operations, human resources, publicity, etc.
Pharmaceutical consulting firms can be divided into 3 groups: the international firms that specialize in pharmaceutical consulting (many are also healthcare consulting, like ClearView, IQVIA, GE Healthcare, etc.), the big consulting powerhouses that have their own pharmaceutical arm (MBB, Big 4) and boutique firms that focus on a local geographical area.
Pharmaceutical consulting salary and compensation
On average, an IT consultant can make around $70,000 a year before bonuses. Depending on your experience, qualifications, seniority and how big the firm is, the average annual salary may range from $32000 to $87,000.
Some fringe benefits that consulting firms can offer are sick leaves, vacations, payroll taxes, travel reimbursements, etc.
Top pharmaceutical consulting firms in the US
The following lists are sourced from Firsthand.co (formerly Vault.com) and Consultancy.org.
Firsthand.co annually invites all consultants in a specific region to rank top consulting firms in that area. The score is based on the percentage of consultants voting for a firm. The consultants can vote for up to 3 firms and can not vote for their own.
Consultancy.org provides information for consultants across industries. The consultancy.org network includes consulting.us, consultancy.eu, consultancy.asia. Consultancy.org ranks firms based on depth of offerings, advisory, expertise, track records and quality of thought leadership. Data is collected from both clients and consultants.
Firsthand classifies pharmaceutical consulting as health sciences, and will include healthcare and pharmaceutical consulting, while Consultancy.org separate the niches.
Top health sciences consulting firms (Firsthand)
|
Ranking |
Firms |
% vote |
|
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 |
17.30% |
|
7 |
Deloitte Consulting |
14.29% |
|
8 |
Accenture |
10.85% |
|
9 |
Huron |
9.68% |
|
10 |
Trinity Life Sciences |
9.29% |
|
11 |
KPMG |
6.56% |
|
12 |
EY Parthenon |
6.40% |
|
13 |
Putnam |
5.90% |
|
14 |
Charles River Associates |
5.67% |
|
= |
Oliver Wyman |
5.67% |
|
16 |
PwC Advisory/Strategy& |
5.51% |
|
17 |
Health Advances |
5.17% |
|
18 |
Syneos Health |
3.62% |
|
19 |
LSC LifeSciences Consultants |
3.45% |
|
20 |
Back Bay Life Science Advisors |
3.39% |
Top pharma & life sciences consulting firms (consulting.us)
|
Ranking |
Firms |
|
1 |
McKinsey & Company |
|
2 |
PA Consulting |
|
3 |
Bain & Company |
|
4 |
Baker Tilly |
|
5 |
Deloitte Consulting |
|
6 |
Grant Thornton |
|
7 |
L.E.K. Consulting |
|
8 |
NMS Consulting |
|
9 |
EY Parthenon |
|
10 |
Boston Consulting Group |
|
11 |
Accenture |
|
12 |
Alvarez & Marsal |
|
13 |
PwC |
|
14 |
Cordence Worldwide |
|
15 |
KPMG |
|
16 |
Mercer |
|
17 |
Nextcontinent |
|
18 |
North Highland |
|
19 |
Oliver Wyman |
|
20 |
Roland Berger |
|
21 |
Strategy& |
Top pharmaceutical consulting firms in Europe
Top health sciences consulting firms (Firsthand)
|
Ranking |
Firms |
% vote |
|
1 |
McKinsey & Company |
38.21% |
|
2 |
Boston Consulting Group |
34.46% |
|
3 |
IQVIA |
28.24% |
|
4 |
L.E.K. Consulting |
26.04% |
|
5 |
Bain & Company |
22.28% |
|
6 |
ZS |
11.01% |
|
7 |
ClearView Healthcare Partners |
9.59% |
|
8 |
Deloitte Consulting |
9.07% |
|
9 |
Lifescience Dynamics Ltd |
6.61% |
|
10 |
Accenture |
6.48% |
|
11 |
Syneos Health |
5.57% |
|
12 |
Alira Health |
4.66% |
|
= |
Roland Berger |
4.66% |
|
14 |
Prescient Healthcare Group |
4.02% |
|
15 |
KPMG |
3.50% |
Top pharma & life sciences consulting firms (consultancy.eu)
|
Ranking |
Firms |
|
1 |
Cordence Worldwide |
|
2 |
Alvarez & Marsal |
|
3 |
Valcon |
|
4 |
McKinsey & Company |
|
5 |
Deloitte Consulting |
|
6 |
L.E.K. Consulting |
|
7 |
Bain & Company |
|
8 |
KPMG |
|
9 |
Mercer |
|
10 |
BearingPoint |
|
11 |
Coeus Consulting |
|
12 |
Curzon Consulting |
|
13 |
Nextcontinent |
|
14 |
NMS Consulting |
|
15 |
North Highland |
Top pharmaceutical consulting firms in Asia
Top health sciences consulting firms (Firsthand)
|
Ranking |
Firms |
% vote |
|
1 |
Boston Consulting Group |
35.24% |
|
2 |
McKinsey & Company |
33.04% |
|
3 |
ZS |
24.89% |
|
4 |
IQVIA |
24.23% |
|
5 |
Bain & Company |
23.35% |
|
6 |
L.E.K. Consulting |
13.22% |
|
7 |
Accenture |
10.57% |
|
8 |
KPMG |
9.03% |
|
9 |
Deloitte Consulting |
8.59% |
|
= |
Syneos Health |
8.59% |
|
11 |
EY Parthenon |
6.17% |
|
12 |
Mercer |
5.95% |
|
13 |
PwC Advisory/Strategy& |
5.29% |
|
14 |
Cognizant |
5.07% |
|
= |
Oliver Wyman |
5.07% |
Top pharma & life sciences consulting firms (consultancy.asia)
|
Ranking |
Firms |
|
1 |
Cordence Worldwide |
|
2 |
Alvarez & Marsal |
|
3 |
Valcon |
|
4 |
McKinsey & Company |
|
5 |
Deloitte Consulting |
|
6 |
L.E.K. Consulting |
|
7 |
Bain & Company |
|
8 |
KPMG |
|
9 |
Merer |
|
10 |
BearingPoint |
|
11 |
Coeus Consulting |
|
12 |
Curzon Consulting |
|
13 |
Nextcontinent |
|
14 |
NMS Consulting |
|
15 |
North Highland |