MBB Announced: Big 3 Consultancy, McKinsey, Bain, BCG, Comparison

• McKinsey, Bain, and BCG are top strategy consulting firms with low acceptance rates.
• Known as MBB, these firms serve Fortune 500 companies and offer competitive salaries.
• MBB firms provide prestigious exit opportunities, often leading to senior roles across a variety of industries.

McKinsey & Company, Bain & Company, and Boston Consulting Group (collectively referred to as MBB) are in the top three overall strategy consultancy Companies in the world.

MBB firms, sometimes referred to as the Big Three, are among the most prestigious consulting firms and its customers include many Fortune 500 companies as well as government agencies.

CEOs often turn to these firms for their expertise in business strategy and solving complex problems, whether it’s mergers and acquisitions or budgeting and cutting costs.

Finding a job at MBB companies is known to be difficult and is among the most sought-after positions for MBA students at top schools. Acceptance rates for these companies are less than 1%. applicants best business schools They are also much more likely to be accepted into MBA programs if they come from MBB.

MBB firms typically offer highly competitive salaries, often pay more than other consulting firms, and often come with challenging job responsibilities and expectations.

MBB firms are also known for the exit opportunities they provide; Employees at these firms are highly sought after for other jobs and often attain senior positions at Fortune 500 companies, startups, hedge funds and private equity firms, or start their own companies. companies.

The Big Three are sometimes confused Big Fourrefers to professional services firms Deloitte, EY, KPMG and PwC. Although the Big Four are the largest accounting firms in the world, they also offer consulting and other services.

MBB firms are strategy and management consultancy firms. Here’s how they compare.

McKinsey & Company

McKinsey it is generally considered the most prestigious of the Big Three. It is also the oldest and was founded in 1926.

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Headquartered in New York City, McKinsey is also the largest of the MBBs, with more than 45,000 employees in 130 offices worldwide.

McKinsey had revenues of approximately $16 billion in 2023 and is led by Bob Sternfels, who serves as the firm’s global managing partner and chairman of the board.

McKinsey told Business Insider that it receives more than a million job applications each year and that the company plans to hire about 6,000 people in 2024, about the same as the previous year.

This means McKinsey hired about 0.6% of applicants.

McKinsey’s average base salary for new college hires is $112,000, compared to $192,000 for MBAs, according to the company. Management Consultedproviding coaching to students for counseling sessions.

McKinsey is famous for this demanding workloadEven entry-level analysts work 12 to 15 hours a day. One former employee told BI that the experience took a toll on his mental health, but he walked away with self-confidence and a Rolodex of contacts.

Boston Consulting Group

BCG It was founded in 1963 in Boston, where it is still headquartered. The company had 32,000 employees and 128 offices worldwide as of 2023.

BCG’s global revenue in 2023 was approximately $12 billion.

BCG is led by Christoph Schweizer, who has served as CEO since 2021, and Rich Lesser, the firm’s Global President.

BCG’s head of talent, Amber GrewalHe told BI that more than a million people apply to work for the company every year, and only 1% make the cut.

in the middle Explosion in generative AI The firm is recruiting for a wider mix of roles than in previous years. “This will change the mix of people and expertise we need,” Alicia Pittman, head of BCG’s global people team, previously told BI.

The average base salary for non-undergraduates at BCG was $110,000 in 2023, and for MBA and PhD students it was about $190,000. Management Consulted.

Bain & Company

Bain It was founded in 1973 and is headquartered in Boston.

The smallest of the Big Three, Bain has offices in 65 cities worldwide and approximately 19,000 employees.

According to the Financial Times, Bain’s revenue in 2023 reached $6 billion.

Bain is led by Christophe De Vusser, who serves as global managing partner and CEO.

Bain’s average base salary for undergraduates in the United States was around $90,000, while for new hires with an MBA or PhD, the figure was around $165,000. Management Consulted.

Despite demanding hours and high expectations, Bain is known for a collaborative culture.

“We have a motto: ‘A Bainie never lets another Bainie fail'” davis nguyenOne of the firm’s former consultants previously told BI. “We all work together, from entry-level associate consultants to senior partners. I think that’s what makes Bain’s culture what it is; we all work together to achieve a goal and make everyone around us better.”

Bain is also considered the “meanest” of top firms and is known for its “work hard, play hard” culture, according to Management Consulted.