MBB is an abbreviation that stands for McKinsey & Company, Boston Consulting Group (BCG) and Bain & Company. It is an acronym used by candidates applying for jobs at what’s often considered the top 3 firms in the management consulting industry.
M– McKinsey is the world leader in consulting prestige. It had $8.8B revenue in 2016 and 26,000 personnel. Founded in Chicago in 1926 and currently based in New York, it has more than 120 offices. It has consistently been the #1 most valued brand in the consulting industry and is associated with cutting-edge strategic approaches.
B – (could be either Bain or BCG people will argue) we will start with Boston Consulting Group (BCG) has $5.6 billion in revenue and 18,800 employees. It was founded in 1963 and was one of the first enterprises to focus on thought leadership. It remains influential for the concepts it spearheads.This consulting firm is one of the largest in the industry in terms of global reach — 90 offices in 50 countries. In 2018, Fortune named it #4 among the “100 Best Companies to Work For.”
B – Bain and Company had a prestigious start when the founder, Bill Bain, left Boston Consulting Group in 1973 to launch it. It was known for a concierge business model: one client per industry, letting it maximize value per client. With 8,000 employees across 56 offices, it accepts clients in private, public, and nonprofit sectors. This consulting firm has become known for its new private equity practice, which has delivered exceptional results for many clients.
Frequently Asked Questions
What does an MBB do?
MBB refers to the 3 most prestigious consulting firms, McKinsey, Bain and Boston Consulting Group (BCG). Since an MBB is not a person nor a company, an MBB doesn’t actually do anything. However, a consultant from MBB (one of the top 3 most prestigious firms) would be part of a consulting team to advise clients on their high stakes strategic business decisions.
Is MBB or Big 4 Better?
The MBB consulting firms (McKinsey, Bain & BCG) are considered more prestigious. Their compensation rates for consultants and billing rates to clients are generally much higher than consultants from the consulting divisions of the “Big 4” accounting firms. MBB is a better fit for someone interested in strategic planning work as these firms do more of it. The Big 4 firms have more employees and provide a much wider range of services to clients. More of their work will be focused on operational improvement as opposed to pure strategic planning. The better firm depends on your goals.
What does MBB stand for in management?
MBB is a shorthand acronym to refer to three most prestigious strategy consulting firms: McKinsey, Bain and the Boston Consulting Group (also know as “BCG” for short)