If you're in the business world, you've probably heard of MBB consulting. But what is it, exactly? MBB consulting is a term used to describe the three top-tier strategy consulting firms: McKinsey & Company, Bain & Company and Boston Consulting Group.
These firms are known for their rigorous hiring process and their ability to help companies solve their most important strategic issues. In this post, we'll take a closer look at why MBB consultants are so sought after and how they can benefit your business.
Why are McKinsey & Company, Bain & Company and Boston Consulting Group consultants regarded as the best in the business?
Working at McKinsey & Company, Bain & Company or Boston Consulting Group positions an individual among the cream of the crop when it comes to strategy consulting.
Clients trust them to provide exceptional quality work and they have earned their reputation as a result.
Furthermore, part of this reputation is derived from their diverse clientele which includes multitudes of Fortune 500 companies that rely on MBB consultants for complex and large-scale restructuring initiatives. For these reasons, McKinsey, BCG, and Bain are seen as the best firms in the business when it comes to strategy consulting.
What does a strategy consultant do?
A strategy consultant helps organisations stay competitive in their respective industries and fields by providing tailored advice and guidance on strategy development.
Working with management, strategy consultants help to define goals, assess the current situation, build actionable strategies that consider timelines, resources, and potential obstacles.
As strategy consultants have expertise in a wide-range of business functions such as financial performance, operations, marketing and strategy for products/services - they bring objectivity & innovation to corporate restructuring, new product launches and organisational change initiatives sustaining an organisations competitive edge.
MBB (McKinsey & Company, Bain & Company and Boston Consulting Group) strategy consulting firms draw on their vast knowledge & experience to provide strategy services that can unlock an organisation’s potential.
Why do consultants want to work at an MBB firm?
Working at McKinsey, Bain, or BCG is a sought-after career choice for many consultants. MBBs offer their clientele the best possible strategy consulting services due to the collective experience and expertise of these top-tier firms.
Not only do MBBs provide excellent client service and innovation in problem solving, they also reward their consultants with high compensation and generous benefits packages.
Working at an MBB firm provides potential for professional growth and development along with opportunities to gain highly sought after skills that open doors to prestigious career paths outside the consulting world.
What do MBB consultants do after exiting?
After leaving one of the leading MBB consulting firms, many former consultants go on to take up senior positions in private equity firms or venture capital funds, as well as joining leadership teams at start-ups and Fortune 500 companies.
In fact, our founder & CEO Bridget Loudon was a former Bain & Company consultant before starting Expert360.
These individuals possess an invaluable set of skills that have been honed during their time at these top-tier consulting firms, ranging from problem solving, critical thinking, and organisational strategy.
Their wealth of knowledge on what's required for an organisation to succeed in a competitive industry has been highly sought after by private equity firms, venture funds and corporate executives alike.
All in all, MBB consultants have carved out a respected and revered place for themselves in the strategy consulting industry.
With their exhaustive experience and sound strategies, MBB consultants provide forward-thinking problem solving capabilities that have helped some of the world’s top businesses succeed.
Contrary to popular belief, MBB consultants don’t just sit behind big corporate desks – many move on to become leaders of industries, entrepreneurs and change-makers.
As these skilled and talented professionals continue to dominate the scene with their expertise in business strategy, they are inspiring a new generation of innovators who want to follow in their footsteps.
The illustrious careers of former McKinsey, Bain and BCG consultants show that investing effort and dedication into becoming an MBB consultant can pay dividends far beyond typical finance roles.
Looking to engage an MBB consultant? Expert360 has Australia & New Zealand's best ex-MBB freelance consultants exclusively in our network, ready to tackle your most important projects.
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