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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

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 30,000 (2019)[3] $10.5 B (2019)[3] 133[4] None[4]
Boston Consulting Group 22,000 (2020)[5] $8.6 B (2020)[5] 90+[6] Boston, MA
Bain & Company 10,000 (2019)[7] $4.3 B (2019)[8] 59[9] Boston, MA

McKinsey & Company

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.[10] 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.[11][12] The firm currently serves two-thirds of the Fortune 1000. Their areas of expertise include management, organisation, operations and IT.[13]

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.[14] Starting out with only two consultants, the firm quickly grew. As of 2021, it employs 22,000 people in over 90 offices in more than 50 countries.[5][15] BCG also has been consistently featured in Consulting magazine's "Best Firms to Work For" lists since 2001.[16] Their areas of expertise include corporate development, business growth and innovation.[17]

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 59 offices in 37 countries.[18] Their areas of expertise include private equity, mergers and acquisitions and retail.[19] Bridgespan, a non-profit consultancy, was spun out of Bain in the early 2000s by three former Bain employees. Bain has been ranked multiple times as the #1 "Best Place to Work" by Glassdoor, and has placed in the top five for the last decade.

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 MBB Trio In Management Consulting". beatoncapital.com. Archived from the original on October 22, 2014. Retrieved October 18, 2014.
  3. ^ a b "McKinsey & Company". Forbes. Retrieved September 3, 2021.
  4. ^ a b "McKinsey fact sheet". December 11, 2019.
  5. ^ a b c "Boston Consulting Group Posts Solid Growth in Challenged Global Economy". bcg.com. Retrieved March 24, 2020.
  6. ^ "BCG Worldwide". Belgium - EN. Retrieved September 23, 2020.
  7. ^ "Bain & Company mobilizes its global talent, strategic expertise and partnerships with leading social innovators to tackle economic, educational and environmental challenges". Bain. Retrieved June 8, 2021.
  8. ^ "Bain & Company". Forbes. Retrieved June 8, 2021.
  9. ^ "Global Offices". Bain. Retrieved September 23, 2020.
  10. ^ "McKinsey & Co History". Archived from the original on October 17, 2014. Retrieved October 18, 2014.
  11. ^ "The Best Consulting Firms: Prestige". vault.com. Retrieved October 18, 2014.
  12. ^ 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.
  13. ^ "McKinsey Client Expertise". mckinsey.com. Archived from the original on October 24, 2014. Retrieved October 18, 2014.
  14. ^ Hayes, Thomas C. (July 24, 1992). "Bruce Henderson, 77, Consultant And Writer on Business Strategy". New York Times. Retrieved September 19, 2011.
  15. ^ "About BCG". bcg.com. Retrieved March 26, 2020.
  16. ^ "Best Firms to Work For Ranking". consultingmag.com. Retrieved October 18, 2014.
  17. ^ "BCG Expertise". bcg.com. Retrieved October 18, 2014.
  18. ^ "Worldwide offices—Bain & Company". Bain.com. Retrieved July 20, 2017.
  19. ^ "Bain Worldwide Offices". bain/com. Retrieved October 14, 2014.
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