Comparing Consulting Firms (McK, BCG, ...)

I’ve been looking around at some of the major strategy consulting firms and saw a lot of resemblance. Though, I would be interested to know where the differences are in comparing the major strategy consulting firms, McKinsey, BCG, Bain & Company, (Booz, OC&C, ..).

In terms of:
1) Entry requirements/ chances (for example, are, on average, chances of making it into McKinsey less/ do they take different aspects into account etc?)
2) Expectations on the job (does one or the other expect you to work significantly harder, etc)
3) Salary (are there (big) differences in pay?)
4) Development/ growth possibilities (are there major differences in terms of possibilities, both during your career at the company and when you decide to make a next step?)
5) The people (you sometimes hear things like: “all the big consulting firms have just slightly different people. If I meet someone who wants to do strategy consulting, I can see whether he will be one for McKinsey, Bain, or whatever, and often it turns out that I was right”. What are the differences in the people you find at the several companies?)
6) Other important aspects, which might be valuable in making a comparison?
7) Are there big differences among the same firm, but different offices? For example, I read somewhere on the forum about New York, being considered the hardest of all McKinsey offices to get in.

If a similar thread also exists, please be so kind to refer to it, but I wasn’t able to find anything really answering my question among all the IB-topics .

Reply 1

fuglyduckling

2

1-4) All the same, AFAIK.
5) Dunno - guess you'd have to work there to find out.
7) Yes. Big differences in terms of a) projects b) salary c) culture d) entry requirements.

Reply 2

Isaiah Berlin

4

Simple answer is as follows. About 1 in a 100 applicants get a place at McKinsey, BCG and Bain. Probably 1 in 300 get offers at more than one of the three. The firms are far more similar than they are different. So just apply.

In the remote possibility that you get more than one offer, all three firms will make sure you're more than well informed enough to make the choice.

Reply 3

Voucher

OP

Thanks Isaiah, makes sense. Though, I don't see my chances as bad as 1/100 and 1/300, but hope they are a little better. I assume that there simply are a lot of people among those 99% rejected about which you can beforehand say that they won't be accepted. Lots of people I spoke to, for example during business courses, that worked at one of the mentioned companies, had the option to choose when they started because they were accepted for more than one.

Reply 4

Isaiah Berlin

4

You're right, I was exaggerating a little, just from your post I can see you're very well informed, which would suggest to me you're from the sort of background/institution that does send people to these firms.

The main point was that if you get into two, as your friends will tell you, they will pull all the stops to show you the differences.

By the way, a proper answer to your questions, though still quite glib, is that generally they're very similar, but McK is a little better - being bigger, more experienced, more prestigious, having more alumni etc does make a difference. You probably guessed that, too, though.

The culture difference is way over-rated - as reflected in the fact people do get multiple offers.

Reply 5

hungry_hog

9

I think if you look at BCG, Bain, Mercer, OCC etc., you'll find that being smaller they are (necessarily) more selective. And thus in a bizarre way you are actually more likely to get an offer from McK than (say) OC&C, especially if you are non-Oxbridge

Reply 6

kstone122

1

Why have I never heard of OC&C? Are they really prestigious in Europe?

hungry_hog

I think if you look at BCG, Bain, Mercer, OCC etc., you'll find that being smaller they are (necessarily) more selective. And thus in a bizarre way you are actually more likely to get an offer from McK than (say) OC&C, especially if you are non-Oxbridge

Reply 7

love2learn

4

kstone122

Why have I never heard of OC&C? Are they really prestigious in Europe?

I hadn't and found their website this afternoon after hearing so much about them on here over the last couple of months. Looks really good. Gotta love Rhys :wink:

Reply 8

Isaiah Berlin

4

hungry_hog

I think if you look at BCG, Bain, Mercer, OCC etc., you'll find that being smaller they are (necessarily) more selective. And thus in a bizarre way you are actually more likely to get an offer from McK than (say) OC&C, especially if you are non-Oxbridge

Don't agree. At graduate level, McKinsey give no more offers than BCG or Bain, and have more applicants, so it's definitely harder.

Maybe at post-MBA level. But even then McKinsey's likely to get so many more applicants because it's insanely prestigious - it was top destination for MBAs for about 20 years in succession until last year, when Google overtook it.

Mercer are just a level below. They're smaller, but far more people turn them down so they have to give more offers. Plus the competition's lower. So it's definitely easier to get in.

OC&C is different. Boutique so it's tiny. I suppose there it's true you may get rejected even if you're awesome, because the numbers are so awesome.

Comparing Consulting Firms (McK, BCG, ...)

Related discussions

Articles for you