McKinsey generally sets the wage standard and outperforms BCG in raising wage rates. While the responsibilities at each company are similar for a newly hired MBA, the job title varies slightly. At McKinsey, the degree is Associate, while at BCG it is a Consultant. In both firms, it seemed to me that the quality of the work was incredibly high.
However, there is a dramatic difference in what people focus on in their daily work. When it comes to staffing, you'll find that Bain employs more analysts than McKinsey and BCG. On a standard McKinsey or BCG team, there can be only one analyst. By contrast, a Bain team will have 2 analysts and fewer people with more experience.
This could mean that you'll take on more responsibilities right from the start at Bain and, in the end, you'll play a bigger role in the team's success. BCG placed a much greater emphasis on how people do things. So you might be part of a team full of people, each of whom operates differently. For the same volume of work, McKinsey charges, on average, 30% more than BCG and Bain.
Typically, your project covers a wide range of sectors and areas: strategy, implementation and operation. With a highly professional, formal and structured work style, clients know that McKinsey is the surest bet to ensure consistency and understanding.
