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Big Three (management consultancies)

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MBB Logos: McKinsey, BCG, Bain

The Big Three or MBB is the name colloquially given to the three large strategy consulting firms. They are considered to be the most prestigious firms in the management consulting industry.[1] In terms of employees, McKinsey & Company is the largest and leads by revenue. McKinsey is followed by Boston Consulting Group and Bain & Company, respectively.

The firms

The three consulting firms widely regarded as constituting the Big Three or MBB are McKinsey & Company, Boston Consulting Group, and Bain & Company.

These three firms are among the world's largest strategy consulting firms by revenue. Their latest publicly available data is summarized in the table below:[2]

Firm Employees (year) Revenue (year) Revenue per Employee Locations (cities) Headquarters
McKinsey & Company 45,000 (2023)[3] $16 B (2023)[4] $355 K 133[5] New York[5]
Boston Consulting Group 30,000 (2022)[6] $12.3 B (2023)[7] $440 K 100+[8] Boston
Bain & Company 15,000 (2022)[9] $5.8 B (2021)[10] $387 K 65[11] Boston

McKinsey & Company

This firm was founded in Chicago by James O. McKinsey in 1926. The firm has grown significantly since then, establishing 104 offices located in 60 countries as of 2014.[12] McKinsey & Company has been voted number one in "The Best Consulting Firms: Prestige" list of the Vault.com career intelligence website consecutively for 14 years since 2002.[13][14] The firm currently serves two-thirds of the Fortune 1000. Their areas of expertise include management, organization, operations and IT.[15]

Boston Consulting Group

BCG was founded in 1963 by Bruce D. Henderson, a former Arthur D. Little consultant and a Vanderbilt University and Harvard Business School alumnus.[16] Starting out with only two consultants, the firm quickly grew. As of 2021, it employs 25,000 people in over 90 offices in more than 50 countries.[17][18] BCG also has been consistently featured in Consulting magazine's "Best Firms to Work For" lists since 2001.[19] Their areas of expertise include corporate development, business growth and innovation.[20]

Bain & Company

Bain was founded by Bill Bain in 1973 after leaving BCG. The firm pioneered private equity consulting and the fund Bain Capital was founded by partners from Bain & Company and led by Mitt Romney. It currently has 65 offices in 40 countries.[21] Their areas of expertise include private equity, mergers and acquisitions and retail.[22] Bridgespan, a non-profit consultancy, was spun out of Bain in the early 2000s by three former Bain employees.[23] The firm has been ranked multiple times as one of the "Best Places to Work" by Glassdoor, and has placed in the top five for the last decade.[24]

See also

References

  1. ^ Szczerba, Marta (March 5, 2014). "The Big Three: meet the world's top consulting firms". No. 72. The Gateway. Archived from the original on September 4, 2014. Retrieved October 18, 2014.
  2. ^ Chin, Eric. "The MBS Trio In Management Consulting". beatoncapital.com. Archived from the original on October 22, 2014. Retrieved October 18, 2014.
  3. ^ M/s Outlook Publishing (India) Private Limited (February 21, 2023). "Layoffs 2023: McKinsey Layoffs To Knock 2,000 Jobs As Company Plans Its Biggest Job Cuts, Report". Outlookbusiness.com. Retrieved April 12, 2024.
  4. ^ "Bob Sternfels re-elected global managing partner of McKinsey & Company". McKinsey & Company. February 1, 2024. Retrieved April 12, 2024.
  5. ^ a b "McKinsey fact sheet" (PDF). December 11, 2019. Archived from the original on June 4, 2021. Retrieved April 12, 2024.
  6. ^ "Boston Consulting Group Continues Sustained Growth as Firm Marks 60th Anniversary". BCG Global. Retrieved May 30, 2023.
  7. ^ "Boston Consulting Group Continues Sustained Growth as Firm Marks 60th Anniversary". BCG Global. April 5, 2023. Retrieved May 30, 2023.
  8. ^ "BCG Worldwide". Boston Consulting Group. Retrieved July 29, 2022.
  9. ^ "Bain & Company mobilizes its global talent, strategic expertise and partnerships with leading social innovators to tackle economic, educational and environmental challenges". Bain. Archived from the original on June 8, 2021. Retrieved June 8, 2021.
  10. ^ Zarzalejos, A. (February 14, 2022). "Bain cierra su mejor año en España con el tirón del M&A". Expansión (in Spanish). Retrieved July 29, 2021.
  11. ^ "Global Offices". Bain & Company, Inc. Retrieved July 29, 2022.
  12. ^ "McKinsey & Co History". Archived from the original on October 17, 2014. Retrieved October 18, 2014.
  13. ^ "The Best Consulting Firms: Prestige". vault.com. Archived from the original on October 26, 2014. Retrieved October 18, 2014.
  14. ^ Greiner, Larry; Olson, Thomas (June 25, 2004). Contemporary consultant casebook: educating today's consultants. Thomson/South-Western. p. 68. ISBN 978-0-324-29019-6.
  15. ^ "McKinsey Client Expertise". mckinsey.com. Archived from the original on October 24, 2014. Retrieved October 18, 2014.
  16. ^ Hayes, Thomas C. (July 24, 1992). "Bruce Henderson, 77, Consultant And Writer on Business Strategy". New York Times. Archived from the original on August 23, 2010. Retrieved September 19, 2011.
  17. ^ "Boston Consulting Group Posts Solid Growth in Challenged Global Economy". bcg.com. Retrieved March 24, 2020.
  18. ^ "About BCG". bcg.com. Archived from the original on November 9, 2021. Retrieved March 26, 2020.
  19. ^ "Best Firms to Work For Ranking". consultingmag.com. Archived from the original on December 20, 2014. Retrieved October 18, 2014.
  20. ^ "BCG Expertise". bcg.com. Archived from the original on January 5, 2022. Retrieved October 18, 2014.
  21. ^ "Worldwide offices—Bain & Company". Bain.com. Archived from the original on January 25, 2017. Retrieved July 20, 2017.
  22. ^ "Bain Worldwide Offices". bain/com. Archived from the original on October 16, 2014. Retrieved October 14, 2014.
  23. ^ Kulish, Nicholas (November 15, 2021). "The Consulting Firm Billionaires Turn to When They Give Away Money". The New York Times. ISSN 0362-4331. Archived from the original on January 31, 2022. Retrieved January 31, 2022.
  24. ^ "Glassdoor - Best Places to Work". Glassdoor. Archived from the original on January 22, 2016. Retrieved January 31, 2022.
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