A consulting aspirant with a law or medical or another advanced degree better knock on McKinsey’s doors first. McKinsey is the most open among the three to taking in someone without an MBA, and Bain the least. This is particularly so with BCG and Bain, as their intake is smaller than McKinsey’s. It is nearly impossible for a consulting aspirant to try to break into any of these three firms during their off cycle. MBB start their recruitment cycle in the fall, targeting MBAs and undergrads at top schools, for their new batch of recruits for the next fall. MBB have strong resources and expertise in specific areas, and candidates with different backgrounds usually have a better chance at one of them over the other consulting firms. McKinsey’s education and technology practices are much stronger than those of BCG or Bain. BCG, meanwhile, comes across as more seasoned by balancing accumulated expertise and bold creativity. McKinsey, which is a vintage, has always been the undisputed market leader, but Bain, the youngest of the three, has consistently made its mark with its market differentiation and risk-taking talent. McKinsey has established a stronger presence in emerging markets such as Latin America and Sub-Saharan Africa, though all three are equally strong in Northern America and Europe, with BCG having an edge in parts of Germany. Bain’s 2021 annual revenue was $6 billion. It also has its headquarters in Boston and has 13,000 employees, including 4,000 consultants. Its annual revenue in 2021 was $11 billion.īain, the smallest of the Big 3, was set up in 1973 by BCG colleagues William W. BCG’s 25,000 employees, including 7,000 consultants, work from its over 90 offices around the globe. Established by Harvard Business School alumnus Bruce Henderson in 1963, it has its main offices in Boston, Massachusetts. The Boston Consulting Group (BCG) is the second biggest. Its annual revenue in 2021 was over $15 billion. It has over 130 offices around the world and 38,000 employees, over 10,000 of them consultants. McKinsey in 1926, it is headquartered in New York. Founded by former professor of accounting at the University of Chicago James O.
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McKinsey is the biggest among the three Big 3s. Differences between McKinsey, BCG and Bain We may sneak in one or two other similarities, too, on the way.
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Other similarities include their wealth of Fortune 500 clients, intense training and development programs for employees, and excellent exit opportunities. So also the working lives/hours of their employees. The salaries and work of their employees are largely similar, too.
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“MBB” have a similar type of clients and provide similar services. There is probably no consulting aspirant who doesn’t wish to work for one of the “Big Three.” All three are equally prestigious management and strategy consulting companies with global standards and integrated approaches to solving their clients’ issues. McKinsey, BCG, and Bain (MBB) are very different companies.