What are big 10 consulting firms?
McKinsey, BCG, and Bain get lots of love — but do they get all the revenue? The answer is no. This post will examine the top ten consulting firms and rank them by annual turnover. McKinsey, BCG, and Bain may have a good reputation, but their consulting firms are relatively small overall compared to heavyweights like Deloitte and Accenture.. Large companies such as Deloitte and PWC also have areas of business that have nothing to do with advice — such as accounting services, audit risks of %26, etc.. — that increase their overall turnover.
So it is not a correct comparison of apples to apples. However, as traditional strategy consulting continues to expand and build new competencies — McKinsey has a corporate restructuring group that it has acquired, and BCG has an IT implementation that is becoming increasingly similar to some of Accenture’s work — these lines will blur, so comparing total sales is instructive to get a sense of the relative scale. Accenture, as we know it today, has only been around since 2001, but its roots go back to the early 50s when it was part of a company called Arthur Andersen. Today, Accenture’s huge business is divided into multiple divisions, including Strategy, Digital, Technology, and Consulting (their business consulting division).
Accenture uses its deep technology expertise in many projects, including strategic transformation, systems integration, and implementation. Although its official headquarters are in Dublin, Ireland, Accenture has more than 200 offices, and consultants often work with colleagues in other offices. Interestingly, every consultant at Accenture is assisted by a career advisor who can also support and advise you outside of the project.. BCG, based in Boston, is one of the world’s leading management consulting firms.
They were founded in 1963, focusing on strategy consulting, and developed innovative frameworks there, such as the growth stock matrix. In 1990, they expanded their activities to include a more comprehensive management consultancy. Areas of expertise now include digital enterprises, technology implementation, and advanced analytics. Sample answers from former McKinsey, BCG, and Bain consultants. Plus, technical overviews and first-class individual coaching from experts.
Accenture received the third-highest number of excellent recommendations and was among the best in 16 out of 32 categories, including its sales and supply chain management work. Booz Allen Hamilton stood out as the only company that received many excellent recommendations in the aerospace and defense category.. While it sometimes seems like everyone wants to join the top 3 strategy consulting firms McKinsey, Boston Consulting Group (BCG), and Bain Company (Bain), also known as MBB, it’s worth noting that several other top consulting firms can give a career a real boost. McKinsey, Bain, or BCG probably offer the most robust extension to your resume, but each of the top consulting firms has a mix of size and prestige that can get you to the top..
McKinsey employees have significant learning and networking opportunities. However, they tend to lead an intensive lifestyle with lots of travel, personal commitments, and long working hours. If you’re interested in a career that involves a lot of travel, this could be a good place for you. McKinsey is one of the best options for building a successful career..
Because of the competitive atmosphere, young consultants sometimes have a high turnover rate. But those who persevere are rewarded with excellent opportunities. McKinsey is the definition of competitive. It has an academic culture focused on continuous improvement. Intellectual accuracy and fact-analysis skills are essential success factors, as is an attitude that can do everything and an optimistic orientation.
Feedback is frequent and is expected across the organization. Self-starters who do not need specific, strongly enforced rules are usually successful at McKinsey. Diversity at McKinsey is influenced to a certain extent by the fact that candidates from target universities such as Oxford, Harvard, Stanford, or Yale are preferred. Many older candidates have started at companies such as Goldman Sachs or Procter and Gamble. The work-life balance is comparable with the Boston Consulting Group or McKinsey.
Working hours, while flexible, can still be long, and travel is a weekly reality. The schedule and workload can be unpredictable depending on the needs of each engagement. With many exciting global prospects, Oliver Wyman is still growing. The reconciliation of work and private life can suffer as a result of the success of the consulting firm.
The focus on financial services can intensify the work environment. More than 90% of employees surveyed on Glassdoor would recommend Oliver Wyman to their friends; 98% agree with the CEO. Consultants praise the “intelligent,” down-to-earth, and “real” employees who lead to a collaborative, supportive atmosphere. In the junior ranks, Oliver Wyman is known for an entertaining, collegial atmosphere that helps new employees quickly get used to demanding tasks.
However, consultants must work hard to stand out. Employees praise Oliver Wyman’s diversity policy. A global personnel model allows geographical flexibility and substantial contact with other cultures that are not emphasized elsewhere. Oliver Wyman’s growth focuses on a performance-based model that heavily balances previous experience and current performance versus time spent in a particular position.
Mentoring and workstream leadership positions are available just two years after graduation. A higher degree is not required, and the consulting firm is missing some of the typical “pressure to move up or down.”. The work-life balance is relatively good at Booz Allen Hamilton. Because of the focus on federal advice, consultants don’t have to travel as much as other consulting firms.
Other factors — such as deadlines, billable hourly goals, and demanding customers — are similar to those of competitors. Employee satisfaction with Booz Allen Hamilton has changed over the years due to key strategic steps and C-level decisions. Around 75% of Glassdoor respondents recommend it, but some have complained that the salary is losing competitiveness due to lower starting salaries.. Booz Allen Hamilton shows a commitment to inclusion comparable to market leaders.
These include inclusive and unconventional attitudes and benefits for life partners and adoptive parents, frequent reporting on achieving diversity, and affinity groups. Deloitte has some revenue and morale issues due to its challenging workplace culture. However, it is also touted as one of the best consulting firms for rapid professional growth. Deloitte is characterized by an unconventional atmosphere with a young, lively community.
The focus is on teamwork and not on internal competition. Expectations are high, and analyses can be very detailed, requiring every contributor’s high academic performance. A strong work ethic, a multidisciplinary structure, and a meritocratic approach lead to rapid development. Deloitte was recently named one of the best places to work for women.
It has long championed inclusion as a partial solution to business challenges such as revenue, productivity, profitability, and customer satisfaction. Deloitte’s career development includes an industry-standard set of six roles lasting 2-3 years per level. At the lower levels of Deloitte, turnover tends to be very low compared to the industry average. A privately owned company that offers services in various areas such as auditing and auditing, consulting, risk advice, financial advice, and tax.
Together with Price Waterhouse Coopers (PWC), Parthenon-EY, and KPMG, it is considered one of the “Big Four” accounting firms globally. In consulting, the company helps clients provide services in human capital, strategy and operations, technology, and economic transformations. These services contributed to 37% of the company’s turnover. The company sees its ability to solve its customers’ problems by providing strategies and implementations from a business and technology perspective, helping companies to be leaders in the markets in which they operate.
The company has received awards on multiple platforms. His highlights include second place in Vault’s top 50 accounting firms, recognition on Fortune’s list of best employers in top consulting and professional services, a spot on LinkedIn’s list of the “100 best companies to work for,” Fortune’s 50 best companies for diversity and DiversityInc, Working Mother’s 100 best companies for working moms, just to name a few.. These awards and recognitions reflect the company’s work culture, the basis for its strong growth. Ernst and Young (EY) are one of the world’s leading advisory, tax, transaction, insurance, and specialty services providers.
KPMG is a professional service provider with a global network of independent member firms offering audit, audit, and tax advisory services (26%). Accenture is a global management consulting firm that provides professional support to companies in various areas, including strategy, consulting, digitalization, technology, and operations. Oracle Consulting is a member company of the multinational Oracle Corporation, one of the most significant hardware and software providers in the world.. The culture of this consulting firm is more focused on creative and innovative thinking than many major competitors.
Booz Allen Hamilton was named “Best Management Consulting Firm” by the Forbes ranking. He scored 100% on Human Rights Campaign’s Corporate Equality Index (CEI), a national benchmarking survey and report on company policies and practices related to workplace equality. A business administration, management, finance, or analytics degree is essential for planning your career in a consulting firm. However, it’s important to note that some larger companies, such as Accenture, offer various professional services, such as accounting, which may have lower customer rates than a typical management consultancy.. Booz Allen Hamilton was founded in Chicago in 1914 and is now headquartered in Virginia. It is known as a top management and IT consulting firm.
They were founded in 1845 as an auditing firm and expanded to consulting firms in 1995. This consulting firm takes a bottom-up approach to customer and employee engagement that enjoys working together.. A British analysis based on data from a leading analyst firm found that the ten largest consulting firms remain firmly in control of most market activity — these are likely to grow steadily over the next two years.. The course material has helped over 6,000 students in over 13 countries find offers from world-class consulting firms such as McKinsey, BCG, and Bain.
Of the employees surveyed online, 81% described Roland Berger as a “great consulting firm to work for”; 86% said they would recommend it to a friend; 89% were proud to have it on their resume. It is a leading research consulting firm expanding its services to provide expert advice and tools to IT, finance, HR, customer service and support, legal and compliance, marketing, sales, and supply chain executives across the globe.
.
References:
- Top Consulting Firms in the World | Top Prestigious Firms for 2022
- The 10 largest consulting firms in the world
McKinsey, BCG, and Bain get lots of love — but do they get all the revenue? The answer is no. This post will examine the top ten consulting firms and rank them by annual turnover. McKinsey, BCG, and Bain may have a good reputation, but their consulting firms are relatively small overall compared to heavyweights…