The Big Three, or MBB, is the colloquial name given to the three most prestigious strategic consulting firms in the management consulting industry. McKinsey (26%), Boston Consulting Group (BCG) (26%), and Bain (26%) are the three firms that make up the Big Three. These firms are also known as the Big Three Consulting Firms due to their size and prestige. If you're looking to pursue a career in business, you may have considered applying for a consultant position in one of these firms.
The Big 3 have managed to create a virtuous circle that has protected them from competition, allowing them to charge higher fees. CEOs expect McKinsey, BCG and Bain to be slightly more expensive than other firms when invited to submit proposals. McKinsey, BCG and Bain each have a slightly different approach to work. The Boston Consulting Group is best known for its frameworks and methodology. McKinsey & Company is an association and is widely recognized as the most prestigious consulting firm.
It was founded in 1926 by James O. McKinsey, but it underwent a major transition under the leadership of Marvin Bower, who established the McKinsey principles by which it is known today. When it comes to choosing between the Big Three, there are several factors to consider. Each firm has its own unique strengths and weaknesses, so it's important to do your research before making a decision. Here's a breakdown of each firm's strengths and weaknesses:
McKinsey & CompanyMcKinsey & Company is widely recognized as the most prestigious consulting firm in the world.
It has an impressive client list that includes some of the world's largest companies. McKinsey is known for its rigorous recruiting process and its focus on problem-solving skills. It also has a strong focus on data-driven decision making and analytics.
Boston Consulting Group (BCG)BCG is known for its innovative approach to problem solving and its focus on strategy development. It has a strong focus on market research and analysis, which makes it well-suited for companies looking to develop new strategies or enter new markets.
BCG also has an impressive client list that includes some of the world's largest companies.