Big Three (management consultancies)

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The Big Three or MBB refers to the name colloquially given to the world's three largest strategy consulting firms by revenue. They are considered to be the most prestigious firms in the management consulting industry.[1] McKinsey is the biggest of these with an annual revenue of +$10bn (2018) followed by Boston Consulting Group ($8.5bn revenue; 2019) and then Bain & Company (+$4.5bn revenue; 2019).

The firms[edit]

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) Locations (Cities) Headquarters
McKinsey & Company 27,000 (2018)[3] $10.5 B (2018)[4] 133[5] None[5]
Boston Consulting Group 21,000 (2019)[6] $8.5 B (2019)[7] 90+[8] Boston, MA
Bain & Company 8,000 (2019)[9] $4.3 B (2018)[10] 59[11] Boston, MA

McKinsey & Company[edit]

This firm was founded in Chicago by James 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, organisation, operations and IT.[15]

Boston Consulting Group[edit]

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. It currently employs 18,500 people over 85 offices in 48 countries.[17] BCG also has been consistently featured in Consulting magazine's "Best Firms to Work For" lists since 2001.[18] Their areas of expertise include corporate development, business growth and innovation.[19]

Bain & Company[edit]

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 59 offices in 37 countries.[20] Their areas of expertise include private equity, mergers and acquisitions and retail.[21] Bain has been ranked multiple times as the #1 "Best Place to Work" by Glassdoor, and has placed in the top 5 for the last decade.

See also[edit]

References[edit]

  1. ^ Szczerba, Marta (5 March 2014). "The Big Three: meet the world's top consulting firms" (72). The Gateway. Archived from the original on 4 September 2014. Retrieved 18 October 2014.
  2. ^ Chin, Eric. "The MBB Trio In Management Consulting". beatoncapital.com. Archived from the original on 22 October 2014. Retrieved 18 October 2014.
  3. ^ "Subscribe to read | Financial Times". www.ft.com. Retrieved 2020-09-23.
  4. ^ "McKinsey & Company". Forbes. Retrieved 2020-09-23.
  5. ^ a b "McKinsey fact sheet". 2019-12-11.
  6. ^ ""Boston Consulting Group Revenues Reach $8.5 Billion"".
  7. ^ "The Boston Consulting Group Hits $6.3 Billion in Sales - The Boston Consulting Group". bcg.com. Retrieved 2018-07-03.
  8. ^ Keizerinlaan, Brussels; 13; Belgium +32 2 289 02 02, Boulevard de l'Impératrice Brussels 1000. "BCG Worldwide". Belgium - EN. Retrieved 2020-09-23.CS1 maint: numeric names: authors list (link)
  9. ^ "Bain & Company mobilizes its global talent, strategic expertise and partnerships with leading social innovators to tackle economic, educational and environmental challenges". Bain. Retrieved 2020-09-23.
  10. ^ "Bain & Company". Forbes. Retrieved 2020-09-23.
  11. ^ "Global Offices". Bain. Retrieved 2020-09-23.
  12. ^ "McKinsey & Co History". Archived from the original on 17 October 2014. Retrieved 18 October 2014.
  13. ^ "The Best Consulting Firms: Prestige". vault.com. Retrieved 18 October 2014.
  14. ^ Greiner, Larry; Olson, Thomas (25 June 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 2014-10-24. Retrieved 18 October 2014.
  16. ^ Hayes, Thomas C. (July 24, 1992). "Bruce Henderson, 77, Consultant And Writer on Business Strategy". New York Times. Retrieved September 19, 2011.
  17. ^ "BCG History". bcg.com. Retrieved 18 October 2014.
  18. ^ "Best Firms to Work For Ranking". consultingmag.com. Retrieved 18 October 2014.
  19. ^ "BCG Expertise". bcg.com. Retrieved 18 October 2014.
  20. ^ "Worldwide offices—Bain & Company". Bain.com. Retrieved 2017-07-20.
  21. ^ "Bain Worldwide Offices". bain/com. Retrieved 14 October 2014.