These three companies are the most prestigious management consulting firms to work for. This category includes the best-known elite heavyweights, such as McKinsey & Co. Because these top-tier firms have consolidated their status over the years, many people simply refer to them as MBB, on behalf of McKinsey, BCG and Bain. You'll even hear people say that I'm talking to an MBB or hiring managers say that I want someone with an MBB experience.
Consulting firms are divided into many groups, depending on size, prestige and areas of expertise. Consultants are asked to vote for 3 firms as the best in each industry, but they are not allowed to rank their own company. In this case, we are going to increase your understanding of the consulting business by analyzing the unitary economy of a case. However, “top” or “best” are vague terms, and in the shadows of MBB firms there are many excellent consulting firms, both as service providers and as employers.
Since implementation projects are quite lengthy, if an Accenture company, for example, does a good job hiring a few consultants who can identify strategic opportunities to present them, it makes sense. Healthcare firms such as The Chartis Group and Trinity Partners are excellent examples of this kind of consulting firm. Therefore, when hiring consultants intensifies, it is useful to develop a framework for thinking about the different types of consultants and the types of consulting firms available. Consulting firms are companies that sell professional advice to companies and organizations, helping them to solve problems.
The “%” is the percentage of consultants who vote for that firm as the best in the industry in question. When you hear the phrase “the top consulting firms”, almost everyone imagines McKinsey, BCG and Bain, the “three big consulting firms with the most prestige”. A lesser-known class of consulting firms is one that focuses on a specific function or a handful of specific functions. For example, there are consulting firms such as FTI, which focuses on financial and litigation consulting.
Some consulting firms may specialize in one or a few industries and functions, while others are generalist and cover hundreds or thousands of areas. Vault has compiled this list through surveys of active consultants, who rate the prestige of consulting firms they know on a scale of 1 to 10. The following lists include the best consulting firms in each industry, compiled by Vault through surveys of active consultants.