1/28/2015

9factorstoconsiderwhencomparingMcKinseyBainBCG|ManagementConsulted

Login / Register (https://managementconsulted.com/my-account/) | 0 items - $0.00 (http://managementconsulted.com/cart/)

9 FACTORS TO CONSIDER WHEN COMPARING MCKINSEY

BAIN BCG

9 factors to consider when comparing McKinsey

Bain BCG
Published: May 29, 2013

Recommend

95

Tweet

Theres a reason why McKinsey, Bain, and BCG are the top dogs in the management consulting industry. Perhaps its more
accurate to say that there are many reasons that make consultants at these 3 firms part of an elite club. History, prestige, and
expertise are a few of the elements that make MBB the most sought after management consulting firms for business
undergrads and MBAs, but theres a huge list of other factors that attract the brightest business minds in the world like insane
training and development programs, Fortune 100 client interaction, and dream-like exit opportunities.
But are MBB firms all the same? If a McKinseyite, a Bainee, and a BCGer were all sitting at a bar, who would you want to talk to?
At the end of the day, where would you as a consulting candidate with specific skills, personality, and goals fit in best?
We advise our Black Belt Interviewer clients regularly on pursuing and selecting the firm thats best fit for them. If a candidate is
MBB caliber, often he/she will receive an offer from 1 or more of the firms. The happy candidate then faces the choice of
McKinsey vs. Bain vs. BCG, and asks which is the right firm for me?
In terms of size, breadth, and reach, McKinsey has always been the obvious market leader. As the youngest of the 3 firms, Bain is
the consistent upstart of the group and the firms lack of experience is compensated by huge risk-taking and marketdifferentiating moves. BCG generally falls somewhere in between competing with both McKinsey and Bain by striking a
balance of expertise and creativity and when selling, they are more creative than McKinsey and more seasoned than Bain.
So where do you belong? Here are 9things to consider when comparing MBB firms.
1. Recruiting
All 3 firms are pretty stringent when it comes to recruiting cycles, making it very tough to break in off cycle. Typically, MBB firms
target undergrads and MBAs from top tier universities in the fall for the following years fall class of new hires. If we had to rank
them on difficulty of breaking in off cycle, wed say that Bain and BCG are even tougher than McKinsey because their incoming
classes are smaller..
In terms of advanced degrees, Bain is the least likely to hire someone outside of MBA programs. BCG and McKinsey have a
much richer ADP hiring process and are open to recruiting professionals with other types of degree. McKinsey is the most open
which means if you have a medical, law, or other advanceddegree and youre looking to start your consulting career, check out
McKinsey first.
At all 3 firms, recruiters have less pull on hiring decisions than consulting staff, so if youre relying on your networking skills to
land an interview, focus your energy on cultivating connections with consultants as opposed to recruiters.
2. Interviews
MBB interviews are intense, no doubt about it. Youll need to be prepared for 2-3 rounds of interviews, including fit and case
interviews, and a heck of a lot of pressure youre not used to.

http://managementconsulted.com/managementconsulting/mckinseybainbcg/#

1/7

1/28/2015

9factorstoconsiderwhencomparingMcKinseyBainBCG|ManagementConsulted

Bain loves to pressure test their candidates not to see if you know what youre talking about, but rather to see if you really
believe what youre saying. In contrast, McKinsey pressure tests to determine whether handling pressure is something you can
do. In both cases, the same tactics are used but for a different purpose.
At BCG, interviewers are assessing your ability to respond on the fly. Youll get the most surprising, curve ball questions in a
BCG case interview and your ability to come up with a reasonable solution that includes explaining your thought process is the
test of your true business intuition and fit for the firm.
We wont fail to mention that McKinsey has the PST that 26-question multiple-choice test that helps to screen candidates who
dont have the potential to make the grade both for English language competency and financial/math literacy.
3. Global reach

All 3 firms have offices around the world, with a home base in the United States. In terms of geographic reach, McKinsey is top
dog with the largest pool of consultants and the most offices. BCG comes in at a close second, with Bain a far 3rd.
Where youll be physically located for work depends on the firms staffing model. With McKinseys global model,you might see 8
different countries over your tenure. If youre looking for the jet setter life with the chance to rack up travel miles and earn free
weekend trips, McKinsey is your best bet.
At Bain, international travel is much less frequent. Youre almost always going to work in 1 primary country (or regional office
like Singapore). You do have a chance to work abroad at Bain, however during the 6 month period when you have a choice of
an externship with another company, an international transfer, or a rotation in Bains private equity or non-profit arms.
BCG falls somewhere in the middle. The firm has more of a local staffing model like Bain, but also enjoys an established global
reach, which means BCGers are still more likely than Bainees to travel internationally so the firm can keep utilization above
75%.
At the end of the day, you will be on the road every week with all 3 firms. The norm is 4 days a week at the client site and back to
the office on Friday.
4. Scope
McKinsey is the largest firm with 9,000 consultants, followed byBCG with 6,200 andBain with 3,500. Bain is also the smallest
firm in terms of revenue. In terms of price, however, the 3 firms often compete at the same price point ~$500K fora 6 person
team for a month.
MBBs count Fortune 50 and Fortune 100 companies among their clients (although they prospect to the Fortune 1000 and
privately traded firms like Private Equity and Hedge Funds as well). As a consultant youll be interacting with C-level executives
hence the reason for the rigorous hiring process. MBB firms need to uphold a certain level of professionalism and
sophistication when theyre dealing with CEOs of huge corporations, if for no other reason than to keep the CEOs comfortable
with the price tag theyre paying.
Since Bain came to their senses in the late 2000s and joined rank with McKinsey and BCG, all firms now employ a 1-project
staffing model. That means consultants are on only 1 project at a time, making resource management across the firm much
smoother.
McKinseys technology and education practices serve as huge differentiators from its competitors neither Bain nor BCG offers
anything like it. When it comes to private equity firms, however, Bain is the powerhouse of the trio. Heres your takeaway: the 3
firms have strengths in different practice areas, which means as a candidate coming from a particular background, your chance
of being hired could be greater at one firm over another.
5. Exit opportunities
If youve made it on with MBB, your future is bright! Most MBB alum are recruited into CEO, VP, or other leadership positions
at Fortune 100 companies, or even start their own famously successful businesses. When you exit from McKinsey, Bain, or BCG,
your future colleagues know youre coming from a background of world-class training, unmatchable Excel and modeling skills,
and an uncanny ability to solve business problems.
Of course, theres going to be just slightly more prestige attached to a McKinsey alum than someone coming from BCG or Bain.
Youll definitely get moreoohs and aaahs when youre interviewing for your next post-consulting position.
McKinsey also has an edge on alum networking. Because its the largest firm, it offers the largest global network for exMcKinseyites. The firm also does the best job of keeping its alumni connected through great resources, contact and job
databases, and consistent membership activity.Wed say that BCG does an above average job of keeping their alum connected,
while Bain has some areas of improvement here.
Nevertheless, Bain comes in first for quality of alum relations. The culture is so strong at Bain that theres an immediate affinity
between Bainees when they meet. While a McKinsey alum would offer to spend 10 minutes on the phone with you to talk about
your exit options at Google, a Bain alum would invite you to her office and introduce you to her staff.
6. Culture
More than anything else, youre going to see big differences among the MBB firms when it comes to culture. Oftentimes, when
candidates have more than 1 MBB offer to consider, they make their final choice based on which firms culture resonates best
with their personality and background.
http://managementconsulted.com/managementconsulting/mckinseybainbcg/#

2/7

1/28/2015

9factorstoconsiderwhencomparingMcKinseyBainBCG|ManagementConsulted

McKinseyites are smart, business-like, and not very collegial. They are trained to attack a problem in a certain way so no
matter which global office youre in or what level youre at, you can count on The McKinsey Way.The organization itself is
structured and formal, and everything from attitude and attire at McKinsey reflects that. The firm is known for its long legacy
client relationships and even longer reports.
BCGers are creative, innovative, and in the upper ranks, thought leaders in their fields. BCG puts a strong focus on both
teamwork and individual contributions when it comes to projects and is great at looking ahead for trends in business and the
global economy. BCG sells against McKinsey more often than Bain, and their customized, collaborative client approach is a
direct slam on McKinseys dust off another report approach.
Camaraderie, connectivity, and conviction characterize the culture at Bain, where the local office culture is strong and the focus
is on teamwork. Considered the frattiest of the top 3 firms, Bainees know how to enjoya beer in the office on Fridays. This
atmosphere of work hard, play hard is a huge draw for new recruits.In head to head recruiting, Bain often beats out BCG
because of culture but loses to McKinsey based on prestige or brand-name.
In terms of staffing, youll find that Bain is more analyst heavy than both McKinsey and BCG. On a standard McKinsey or BCG
team, there may be only 1 analyst. In contrast, a team from Bain will have 2 analysts and fewer people who are more senior. This
could mean youll have more responsibility early on at Bain, and at the end of the day play a larger role in the teams success.
7. Compensation
Generally speaking, compensation at MBB firms is pretty comparable around $70K base for undergrads joining the firm as
full-time hires and around $135K base for full-timers with an MBA or advanced degree.Signing bonuses, relocation
reimbursement, retirement, profit sharing, and benefits (e.g., health insurance, resort membership) are also typically part of the
offer package.
McKinsey is usually the first to raise their compensation. They set the bar, then Bain and BCG follow suit one cycle later. Why is it McKinsey who consistently
sets the bar on salary? 2 reasons -

1. McKinsey has a very specific prestige profile for who they hire. Theyre recruiting the class President, the Rhodes Scholar, #1 HBS graduate, etc.
candidates who likely have interviews with other firms and a high probability of receiving strong offers. McKinsey offers the best salaries to attract the
best candidates.

2. McKinsey has more competing offers outside of consulting. The firm is competing not only with Bain and BCG, but also
with major players in other industries who are also interested in prestige, like banking/finance in particular. Top prospects
from the best b-schools have many paths they can take from internal corporate finance and private equity to venture
capital andcorporate law. To draw and retain the best talent, McKinseys willing to pay top dollar.
8. Depth of experience
McKinsey, not surprisingly, leads the pack on depth of experience. Theyve been around for the longest, they have the largest
number of consulting staff, and their reach is the most extensive. Dozens of best-sellers have been authored by McKinseyites
and hundreds of firms have been led by McKinsey alum. When they come to the table to pitch to a client, McKinsey can usually
point to 10 examples where theyve done the same job successfully before.
On the other end of the spectrum, Bain relies on its well work hard for you mentality to win clients. The firm doesnt have the
decades of experience to draw from like its competitors, but it does have a card up its sleeve. Baingives a lot more ideas away in
the sales process than would McKinsey or BCG, relying heavily on its quantitative prowess and willingness to go the extra mile.
A senior consultant at Bain might give away what would normally be the first month of work to a potential client a tactic that
often sways clients in their favor.
BCG is going to sell somewhere in between theyre not McKinsey in that they do come up with a customized approach, yet
theyre not Bain in that they do have a large, global reach with a lot of great experience behind them. Their approach is to roll up
their sleeves and provide tailored solutions for clients.
9. Career Progression
On the surface, the career progression at MBB firms is simple up or out. You work 2 years then decide whether youre staying
or exiting. When you look a little deeper, however, you discover some pretty cool things that make each firm unique and
attractive in its own way.
For instance, Bain has built a6-month sabbaticalinto its career progression. After completing their first 2 years, undergrad
hires are given the opportunity to rotate into a 6-month term doing something entirely new whether its working for Bains
non-profit groupBridgespan, working abroad through an interoffice transfer, or doing an externship with a company totally
outside of Bain.
BCG offersunique programs for top performers that reward and retain top talent at the firm, like The Strategy Institute a
special international project team that develops a long-term look at strategy and competitive advantage and the BCG Fellows
program thatgives senior consultants carte blanche to work on whatever they want with an associated budget and staff.
McKinsey has a subject matter expert track and a generalist track, and moves consultants early on into specific practices, such
as logistics or HR. Because McKinsey hires candidates early on into specific areas of expertise, theyre more open to considering
applications from candidates whove chosen not to go the typical MBA route. If your education and/or work experience is
outside the norm, McKinsey is more likely to consider you than BCG or Bain.

http://managementconsulted.com/managementconsulting/mckinseybainbcg/#

3/7

1/28/2015

9factorstoconsiderwhencomparingMcKinseyBainBCG|ManagementConsulted

BCG operates in a similar manner, hiring people into practices a lot earlier than Bain who waits until consultants have reached
Partner or Sr. Partner level before assigning a specialization. Bain has been trending towards earlier specialization, but theyre
still 2-5 years later than the other firms.
What does this mean for you? As a Bainee, you can exit into different industries a lot longer than you could at McKinsey or
BCG, where youve already pinpointed yourself into a specific area of expertise.
Finally, because its often a source of confusion for new hires, weve outlined theconsulting job titles across MBB firms. We
frequently get questions from readers who confuse the post-MBA Associate position at McKinsey with the pre-MBA positions
at Bain and BCG.
McKinsey (http://managementconsulted.com/consulting-interviews/mckinsey-problem-solving-test/) Undergrads are hired as Business Analyst MBAs are hired as Associate
Bain (http://managementconsulted.com/consulting-firm-profiles/bain/) Undergrads are hired as Associate Consultant MBAs are hired asConsultant
BCG (http://managementconsulted.com/consulting-interviews/bcg-interview-101/) Undergrads are hired as Associate MBAs are hired asConsultant
We hope you found this MBB overview helpful! Please add your own insights and feedback below. Hearing from our reader base is the best part of our job!

We offer resume editing (http://managementconsulted.com/management-consulting-resumes) and interview prep

(http://managementconsulted.com/management-consulting-interviews). Through one-on-one sessions, well help you stand out
from 1000s of other applicants and land consulting jobs now!
Like 95peoplelikethis.Bethefirstofyourfriends.

Recommend

95

Tweet

Related posts:
For companies like McKinsey, Bain, Booz, and BCG are certain offices easier to recruit for?
(http://managementconsulted.com/faq/for-companies-like-mckinsey-bain-booz-and-bcg-are-certain-offices-easier-torecruit-for/)
The Consulting Interview Bible Dominate Your McKinsey, Bain and BCG Fit and Consulting Case Interviews
(http://managementconsulted.com/management-consulting-interviews/the-consulting-bible/)
To Bain or Not to Bain.That is the Ultimate Question (http://managementconsulted.com/consulting-interviews/baininterview-and-culture/)

http://managementconsulted.com/managementconsulting/mckinseybainbcg/#

4/7

1/28/2015

9factorstoconsiderwhencomparingMcKinseyBainBCG|ManagementConsulted

10Comments

ManagementConsultedConsultingresumes,interviews,andjobs

Login

Share Favorite

SortbyBest

Jointhediscussion
TRN ayearago

Thiswasreallyinformative,andwasnotjustarepetitionfromotherwebsitesorsources.Thankyou!
22

Reply Share

Roberto ayearago

Veryhelpful,thanksalot
9

Reply Share

Jess 8monthsago

Thisisincrediblyhelpful.ManyofthepointslistedareinkeepingwiththeresearchIhavedone,Ithankyoufortheclarity
anddepthofinsight.
2

Reply Share

Pat ayearago

Lotsofthesethingsareplainwrong.Forexample,thepointabouthavingMOREresponsibilityatBainbecausethereare
moreanalystsisnonsensical.
1

Reply Share

BW>Pat 10monthsago

Totallyagreed.Prettymuchtheexactoppositeistrue
1

Reply Share

WorkedWithForAndAgainstThem 4daysago

TheproblemwiththeMBBsarethatevenifyoupickthebestgraduatesfromthebestschoolstheystilldon'thaveany
experience.UsingMBBtypeofmethodswiththeserecruitsisnosilverbuiltforacustomertoachievevalue(result/cost).
NextoverobviousfactistheMBBs(andmanycopycats)businessmodelusingthejuniorinexperiencedstaffforallprojects.
Theseniorsjustplaythepyramidgameandcollectstheprofits.Theseniors(after5ywork)frontthesalesbutdon'twork.
SotheexpertizethatareimportantforthecustomeratMBBsareabundant.Theskillstomakepresentationsandreports
lookingaregreatthough.Saidthatoneunderstandwhytheexpertsaretobefoundincompanieswithmax5employees.
ExpertsneitherneedoraccepttheoverheadandprofitparasitismMBBshasasbusinessmodel.Itsinprinciplelike
McDonaldsandBurgerKingetc.whichisafarbetterandhonestwaytostartyourcarrieron.

Reply Share

KES 5monthsago

Thisisaveryinformativearticle.Thankyou!However,Iwanttoaskabouttheimplementationpracticedepartmentin
mckinsey,intermsofwork,value,experience,salary.Alsoisitoneoftheirbestdepartment?

Reply Share

Consul>KES 3monthsago

It'soneofthenewestones.Itmaybeadifferentkindofprofileandjobasopposedtotheclassicalconsultant

Reply Share

anon1989 5monthsago

WhataretherangesforsalaryoutsideofUS/Europeanoffices?SpecificallyEMoffices.

Reply Share

PaxteronVerpsLasabery 6monthsago

veryusueful.However,Iamtoogoodtoworkforanyofthem.
muahahahaha

Subscribe

Reply Share

AddDisqustoyoursite

Privacy

Top Products
http://managementconsulted.com/managementconsulting/mckinseybainbcg/#

5/7

1/28/2015

9factorstoconsiderwhencomparingMcKinseyBainBCG|ManagementConsulted

Black Belt Deluxe (http://managementconsulted.com/product/black-belt-deluxe/) $2,595.00 $1,975.00

Cover Letter/Leadership Essay Editing (http://managementconsulted.com/product/cover-letter-leadership-essayediting/) $150.00
Resume Editing (http://managementconsulted.com/product/resume-editing/) $250.00
Management Consulted Book Bundle (http://managementconsulted.com/product/management-consulted-book-bundle/)
$355.00 $195.00
Woo Course (http://managementconsulted.com/product/woo-course/) $99.00

Search

Popular Posts
What is consulting?
Management Consulting 101 (http://managementconsulted.com/consulting-jobs/management-consulting-and-the-consultingindustry-101/)
Consulting must-reads (http://managementconsulted.com/consulting-interviews/must-read-books-and-periodicals-formanagement-consultants/)
Consulting vs banking (http://managementconsulted.com/consulting-jobs/question-of-the-day-management-consultingversus-investment-banking/)
Consulting vs sales/trading (http://managementconsulted.com/business-consulting/decks-vs-derivatives-6-differencesbetween-consulting-and-sales-trading/)
Firm Profiles
Accenture (http://managementconsulted.com/consulting-interviews/accenture-interview/)
Bain (http://managementconsulted.com/consulting-firm-profiles/bain/)
BearingPoint (http://managementconsulted.com/consulting-interviews/bearingpoint-consulting-interview/)
Booz & Company (http://managementconsulted.com/consulting-interviews/booz-company-interview/)
Boston Consulting Group (http://managementconsulted.com/consulting-interviews/bcg-interview-101/)
Capgemini (http://managementconsulted.com/consulting-interviews/capgemini-consulting-interviews/)
Deloitte (http://managementconsulted.com/consulting-interviews/deloitte-interview/)
IBM GBS (http://managementconsulted.com/consulting-interviews/ibm-consulting-interview/)
McKinsey (http://managementconsulted.com/consulting-interviews/mckinsey-problem-solving-test/)
Mercer (http://managementconsulted.com/consulting-firm-profiles/mercer-interview-101/)
NERA Economic Consulting (http://managementconsulted.com/consulting-interviews/nera-economic-consulting-interview/)
Oliver Wyman (http://managementconsulted.com/consulting-interviews/oliver-wyman-interview/)
PricewaterhouseCoopers (http://managementconsulted.com/consulting-interviews/pwc/)

Reader FAQs
Offers & Experience (http://managementconsulted.com/faq/booz-bain-bcg-offers-fortune-500-breaking-experience-wall/)
Applying Off-cycle (http://managementconsulted.com/consulting-jobs/off-cycle-part-time-mba-internships/)
Switching Industries (http://managementconsulted.clom/faq/reader-questions-grad-school-switching-industries-and-off-cyclerecruiting/)
Consulting lifestyle
Day in the life (http://managementconsulted.com/consulting-jobs/day-in-the-life-of-a-management-consultant-client-version/)
Salaries (http://managementconsulted.com/summer-internship/the-truth-behind-consulting-salaries-from-analyst-thrupartner/)
Tips for new consultants (http://managementconsulted.com/consulting-life/tips-for-new-management-consultants/ )
Recruiting
McKinsey vs Marakon (http://managementconsulted.com/consulting-firm-profiles/recruiting-decisions-what-is-the-differencebetween-global-management-consulting-firms-and-boutique-consulting-firms/)
Networking basics (http://managementconsulted.com/summer-internship/the-right-way-to-network-and-gather-informationat-management-consulting-information-sessionsmixerscompany-presentations/)
Summer internships
Preparing for it (http://managementconsulted.com/summer-internship/preparing-for-management-consulting-summerinternship/)
Featured Products
Summer internship overview (http://managementconsulted.com/summer-internship/overview-of-the-management-consultingBlack Belt Deluxe (http://managementconsulted.com/product/black-belt-deluxe/) $2,595.00 $1,975.00
summer-internship-from-recruiting-to-guaranteeing-a-return-offer/)
Management Consulted Book Bundle (http://managementconsulted.com/product/management-consulted-bookbundle/) $355.00 $195.00
http://managementconsulted.com/managementconsulting/mckinseybainbcg/#

6/7

1/28/2015

9factorstoconsiderwhencomparingMcKinseyBainBCG|ManagementConsulted

Resumes and cover letters

Consulting
guide (http://managementconsulted.com/consulting-resumes/how-to-write-a-management-consulting-andLatest resume
Articles
business-consulting-resume/)
Why
Never
Wanted
to Go Into Business: Confessions of a Bain Consultant
Guide
to Icover
letters
(http://managementconsulted.com/consulting-cover-letter/consulting-cover-letters/)

(http://managementconsulted.com/business-consulting/i-never-wanted-to-go-intobusiness-bain/)
Interviews

10An
interview
tips (http://managementconsulted.com/consulting-interviews/management-consulting-interview-guide/)
Ex-Consultant's
Jump into the Start Up World
Prepare
for
interviews
(http://managementconsulted.com/consulting-interviews/management-consulting-interview-questions(http://managementconsulted.com/business-consulting/altman-vilandrie-consultingpreparation/)
entrepreneur/)

A.T.
Kearney Interview & Culture (http://managementconsulted.com/consultingCase
studies
interviews/at-kearney-interview-culture/)
Case Studies 101 (http://managementconsulted.com/case-interviews/case-interview-101//)
Business Book Review: The Starbucks Experience

Exit options
(http://managementconsulted.com/consulting-books/business-book-review-starbucksFinance
and Startups (http://managementconsulted.com/consulting-exit-opportunities/management-consulting-exitexperience/)
opportunities/)
Grad
2015
School
Management
and Fortune 500
Consulting
(http://managementconsulted.com/consulting-exit-opportunities/management-consulting-exitSalaries Undergraduate, MBA, Interns and More
(http://managementconsulted.com/consulting-salaries/2015-management-consultingopportunities-2/)

salaries-undergraduate-mba-interns/)

Get Email Updates

First Name :

Last Name :

Email Address :

Join now!

2015 Management Consulted

(http://www.facebook.com/pages/Management-Consulted/75191153762?ref=ts) (http://twitter.com/mconsulted)
(http://localhost/mc/about/contact-form/) (http://feeds2.feedburner.com/ManagementConsulted)
(https://www.youtube.com/user/mconsulted)

http://managementconsulted.com/managementconsulting/mckinseybainbcg/#

7/7