Big Three (management consultancies)
The Big Three or MBB refers to management consulting firms McKinsey & Company, Boston Consulting Group, and Bain & Company. Widely considered the most prestigious strategy consulting firms in the world, the three companies are distinguished by the depth and rigor of their analyses and recommendations, rich histories of service dating back to their foundings in the mid-20th century, and strong client bases spanning some of the world's largest and more important companies.[1]
Known for their highly selective and competitive recruiting process, the MBB firms hire a large portion of their consultants from prestigious undergraduate universities and MBA programs around the world, supplementing them with more senior industry hires with deep expertise in specific sectors served by the firms.[2] While continuing to maintain a focus on the strategy consulting work for which they originally rose to prominence, the MBB firms have expanded their portfolio of offerings over the years to include consulting services such as operating model design, performance improvement, M&A diligence, human capital, and digital / AI transformation.
Praised by many for the impactful results they have achieved with their clients, the MBB firms have also been the subject of criticism over the years for alleged unethical activities, with a prominent example being McKinsey's role in helping Purdue Pharma "turbo-charge" its sales of OxyContin, which has been cited as a direct contributor to the opioid epidemic in the United States.[3]
The firms
[edit]McKinsey & Company, Boston Consulting Group, and Bain & Company, collectively referred to as "MBB", are widely considered the three top and most prestigious strategy consulting firms in the world. Jobs at these firms are among the most sought-after by MBA students and have a less than 1% acceptance rate.[4]
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:[5]
| Firm | Employees (year) | Revenue (year) | Revenue per Employee | Locations (cities) | Headquarters |
|---|---|---|---|---|---|
| McKinsey & Company | 45,000 (2023)[6] | $16 B (2023)[7] | $355 K | 133[8] | New York[8] |
| Boston Consulting Group | 33,000 (2024)[9] | $13.5 B (2024)[9] | $410 K | 100+[10] | Boston |
| Bain & Company | 15,000 (2022)[11] | $5.8 B (2021)[12] | $387 K | 65[13] | Boston |
McKinsey & Company
[edit]McKinsey & Company 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.[14]
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.[15] 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.[16][17]
Bain & Company
[edit]Bain & Company 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. According to the company's website in 2017, it had 65 offices in 40 countries.[18] Bridgespan, a non-profit consultancy, was spun out of Bain in the early 2000s by three former Bain employees.[19] Bain is widely known for its culture and was ranked #1 on Glassdoor's "Best Places to Work" list for 2025, a ranking it has frequently achieved since the list was first published.[20]
See also
[edit]References
[edit]- ^ Cogar, Joshua (July 9, 2019). "MBB Firms". Management Consulted.
- ^ "MBB Consulting Firms: What's Different About the Big 3". My Consulting Offer.
- ^ Mann, Brian (December 13, 2024). "McKinsey & Company to pay $650 million for role in opioid crisis". NPR.
- ^ "MBB explained: How hard it is to get hired and what it's like to work for the prestigious strategy consulting firms, McKinsey, Bain, and BCG". Business Insider. November 29, 2024. Retrieved April 24, 2025.
- ^ Chin, Eric. "The MBS Trio In Management Consulting". beatoncapital.com. Archived from the original on October 22, 2014. Retrieved October 18, 2014.
- ^ 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.
- ^ "Bob Sternfels re-elected global managing partner of McKinsey & Company". McKinsey & Company. February 1, 2024. Retrieved April 12, 2024.
- ^ a b "McKinsey fact sheet" (PDF). December 11, 2019. Archived from the original on June 4, 2021. Retrieved April 12, 2024.
- ^ a b "BCG Achieves 10% Growth in 2024 and Record Revenue". Boston Consulting Group. Retrieved November 22, 2024.
- ^ "BCG Worldwide". Boston Consulting Group. Retrieved July 29, 2022.
- ^ "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.
- ^ 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.
- ^ "Global Offices". Bain & Company, Inc. Retrieved July 29, 2022.
- ^ "McKinsey & Co History". Archived from the original on October 17, 2014. Retrieved October 18, 2014.
- ^ 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.
- ^ "Boston Consulting Group Posts Solid Growth in Challenged Global Economy". bcg.com. Retrieved March 24, 2020.
- ^ "About BCG". bcg.com. Archived from the original on November 9, 2021. Retrieved March 26, 2020.
- ^ "Worldwide offices—Bain & Company". Bain.com. Archived from the original on January 25, 2017. Retrieved July 20, 2017.
- ^ 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.
- ^ "Best Places to Work 2025". Glassdoor.
