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Bain vs mckinsey reddit


Manager. 4) I also have interview with BCG (final round) but have not heard from Bain (applied for Consultant role), and if what I understand from this forum is correct, than base your decision on "fit" between Mckinsey traditional path (Associate role not implementation) vs BCG vs Bain (assuming location is the same). Could you please rank McKinsey vs Bain vs BCG in healthcare consulting (1, 2, and 3) and provide reasons for your rankings? If you can get a true management consulting role at a tier 2 firm, I'd definitely recommend taking that over McKinsey Implementation. Booz is highest ranked firm behind BCG, McKinsey, and Bain. ’s Global Private Equity Report 2019 outlines how PE firms can afford to pay high prices for companies and still capture solid returns upon exit. “A growing number of [general partners] are facing down rising deal multiples by using buy-and-build strategies as a form of multiple arbitrage – essentially scaling up valuable new Bain, BCG, and McKinsey each doled out $32,000 for 10-week internships in the United States – no different than past. , Oliver Wyman, Patrick Curtis, Wall Street Oasis Post navigation Previous Article: EMLyon’s New Dean: Here’s How We Will Break Into Europe’s Top 10 In preparation for this meeting, a McKinsey team, working together with a group of external thought leaders and academics, are preparing a report on the importance of Innovation as a contributor to economic growth. Boston will contribute a $4,400 profit share into retirement plan. About five years ago, a third of new hires at BCG had Getting an offer from McKinsey now involves building a reef and saving a plant. And at MIT Sloan, 15. I will take it from the point of view as an entry level associate or business analyst as that is likely why you are asking: Staffing Pr The only real difference of BCG vs McKinsey for you will be the location close to the office. Whodathunk. This year, Bain returned to the summit, edging out McKinsey by a mere . I am curious to know the differences between M, B and B. We drive transformation and build businesses by bringing together the capabilities needed to help organizations grow and thrive in the digital age. In stark contrast, Deloitte, PwC, KPMG and EY each employ between 200,000 and 300,000 employees. Most McKinsey, BCG and Bain offices use two rounds of interviews before making a final hiring decision. Take a look at our senior roles. They are equal in terms of brand. https://www. The score is based on the popularity of the keyword, and how well competitors rank for it. McKinsey Salary Average base: 126. · 6y Toilette and Douche. If you’ve been invited to interview then you can count yourself as being in the top 10% of applicants. The three most elite management consultancies—McKinsey, Bain & Company, and the Boston Consulting Group—regularly boast double-digit revenue growth and today generate nearly $20 billion in Hey all, I got an offer from McKinsey to come in as an associate, and I think I'll take it eventually, but I'm having trouble deciding whether to defer the offer and do a residency first. MBA students get a real taste for this future when they intern at one of the MBB firms. However, McKinsey’s retirement contribution can reach $7,500. For retirement, McKinsey contributes $7,500, Bain offers 4. I've always been interested in business, the At Bain, retirement is 4. To mark the occasion, we rounded up the Celebrate National Dog Day With These Amazon Gifts for Your A conversation with Davis Nguyen of https://www. The world’s ultimate interview test is the case interview. 2 percent of grads were MBB-bound, 22 students off to McKinsey, 24 to BCG, and 15 to Bain. Bain is 12th and McKinsey is 13th. Consulting case interview mental math practice is a must as part of one’s overall consulting case interview preparation. Bain contributes 4. 03 points (and BCG by . Tagged: Bain & Company, best interview, Boston Consulting Group, hardest interview, mbb, McKinsey and Co. 26 (National Dog Day), canines nationwide are collectively revered even more than usual. However, the real surprise in the results is further down. McKinsey has 27,000 employees, BCG 20,000 and Bain 8,000 (2018). However, some firms included creative wrinkles to attract talent. is to consulting what Goldman Sachs is to investment banking. This would be a textbook strategy created by McKinsey, Bain or BCG. ” At Bain, retirement is 4. A client firm has a known problem and believes it knows the problem. The team intends to introduce a concept to the G8 representatives known Yet, landing a spot at McKinsey, Bain or BCG is among the most lucrative post-MBA jobs any graduate can get. During th at time I worked on projects around the world on a wide range of innov at ion-rel at ed subjects. When it comes to private equity firms, however, Bain is the powerhouse of the trio. As a manager, you assume a great deal of responsibility. Click the link below to get started. Last year McKinsey placed third, right in the middle of the big four. Last year, the starting salaries at MBB were $165,000, plus a $30,000 signing bonus. McKinsey's director of recruiting explains how to get a job at McKinsey & Co. Then it would involve analyzing the company’s capabilities vs. MyConsultingOffer. McKinsey’s size enables the firm to offer its clients deep expertise in virtually all industries and functions. However these firms still have their individual strengths and weaknesses. com/shop/firmsconsultingAn acquisition case which demonstrates the challenges of break The Big Three pay varying performance bonuses for undergraduates – Bain offers up to $22,500 or 25% of base, while for Boston it’s $18,000 and it's $15,000 for McKinsey. Ideally, you look for a segment that’s growing fast, overlooked by competitors, and one where your company has a competitive advantage in serving. 5% of base and bonus into 401k, while McKinsey offers a straight $7,500. 5% of base without any contribution required to a 401K. Bain, founded by former Boston Consulting Group consultants, has been growing for 15% per year for two decades. And this percentage difference stays relatively consistent from entry level to Partner. McKinsey & Company is a privately-owned management consulting firm that focuses on addressing strategic, organizational, operational, and technological issues. McKinsey also seems to love the University of Chicago Booth School of Business, as the Big Three strategy house hired 48 MBAs, according to 2017 employment data — making it the top overall employer of Booth MBAs, above even Amazon, which hired 26. comments. What b-school do you attend? If the big consulting firms don't actively recruit from your college it will be hard. com and with Paul Millerd of StrategyU comparing the culture's, slide decks and recruiting Details: I was a consultant and interviewer at McKinsey, AMA. I think BCG is better than both of them. 5. An MBA has long been a ticket to a job at one of the so-called “big three” consultancy firms — McKinsey & Company, Boston Consulting Group and Bain — otherwise collectively known as the ‘MBB’ firms. At the same time, McKinsey’s relocation can go as high as $10,000 compared to $5,000 at Bain and BCG. Updated: Jun 8, 2020. INSEAD sent more than 280 MBAs to McKinsey, Bain and BCG in 2017 alone, representing roughly a third of that year Bain’s advanced analytics consulting team helps your company master the alchemy of people, tools, data and focus needed to achieve true competitive advantage. While the European business school is huge, spanning multiple campuses, the number of alumni who work at the big three consulting firms is astonishing. McKinsey NYC is going to be markedly different from McKinsey Stamford even though they are an hour from one another because of the office size. At Bain and McKinsey, for example, MBA interns receive $32,000 for their summer efforts, just a shade above the Boston Consulting Group ($31,730), according to the ManagementConsulted. BCG incorporates profit-sharing up to $4,400, which is deposited into the consultants’ 401K. YOE: 5. Among other things, it is the inventor of the " growth-share matrix ", a grid with four quadrants representing the four different kinds of products every business has. com and with Paul Millerd of StrategyU comparing the culture's, slide decks and recruiting Yet, landing a spot at McKinsey, Bain or BCG is among the most lucrative post-MBA jobs any graduate can get. manual” comparisons can At Bain & Company, entry-level consultants may earn up to $120,000 per year, while senior ones have salaries up to $230,000 (bonuses and profit sharings included). Careers/Post Grad. Here we go: MBB refers to the 3 tier 1 management consulting firms in the world – McKinsey, Bain, BCG. 5k A McKinsey is unparalleled in its reach and prestige, and is the largest of the strategy firms (27,000 employees as of 2018). McKinsey, Bain, and BCG the holy trinity of management consulting firms retained the top 3 spots in the 2020 ranking of Best consulting firms to work for in 2020. TIA! Previous TC: US$220k. I've always been interested in business, the The three most elite management consultancies—McKinsey, Bain & Company, and the Boston Consulting Group—regularly boast double-digit revenue growth and today generate nearly $20 billion in COPY LINK. A client firm has an undiagnosed performance problem it cannot decipher. Calling all consultants, I am looking at entering the healthcare consulting field. level 1. Couple that with a $30,000 signing bonus (again, on par with McKinsey and BCG) and your max total compensation is over $236,000. Since Bain came to their senses in the late s and joined rank with McKinsey and BCG, all firms now employ a 1-project staffing model. Max Total Compensation: up to $236,250. And don't forget that McK has the toughest behavioral interview which requires a lot of prep (unlike Bain or BCG). 5k A Base salary. McKinsey requires you to be really good at solving business cases and you need to successfully crack 5 cases to get the offer. The specific consulting firm Gartner is specifically a B2B technology market research firm whereas McKinsey is primarily a management consulting firm (from my understanding). Landing a management consultant position at a top firm right out of college can result in a salary package topping $100,000 for the best employees — and more An estimate of the traffic that competitors are getting for this keyword. On average, 3% of candidates make the cut. This is a fun question and I think a very good and honest one to ask. Originally founded in Chicago, McKinsey now has a very global feel, with 127 offices across the world. Now, for the first time, an extensive analysis of MBA recruits at the MBB, done by Menlo Coaching, the premium MBA admissions consulting firm, has Consulting firms are beginning their summer internship recruiting timelines earlier than ever. Better hours than Mckinsey, worse hours than PWC/EY. The Top 3 firms are much smaller than the Big 4. If you don't like the project your assigned, you can call a partner you know, and if he has a spot - you switch, no questions asked. This is correct, but it's worth noting that consulting trains you to be a good consultant and leaves you with very high salary expectations. Gartner produces research reports that are written by their industry analysts – these reports are the Response 1 of 61: What about Bain vs Deloitte? Disgraced ex-McKinsey partner Ragat Gupta’s annual salary was estimated at $5 - $10m USD prior to his conviction in 2012 on insider trading charges. Bain’s MBA salary matches McKinsey and BCG exactly on the base level: $165,000. BCG and Bain traded places coming in at 2nd and 3rd in this year’s ranking as compared to 2019. Drawing heavily from Harvard, Wharton and Kellogg MBAs, Bain had built an enviable client list and reputation. Boutique firms like NERA Economic Consulting, Simon & Kucher, and ZS Associates used performance and signing bonuses as inducements for interns. Seems about equivalent to Bain/BCG, maybe a bit better. ) and it's more mysterious. INSEAD was far and away the top-ranked MBA program for the big consulting firms. In terms of employee and office numbers, the Big 4 firms also outdo MBB firms by 5-10 times – each has somewhere around 600-800 offices and 200,000-300,000 employees. traditional” or “automated vs. com Disgraced ex-McKinsey partner Ragat Gupta’s annual salary was estimated at $5 - $10m USD prior to his conviction in 2012 on insider trading charges. The TLDR is that it’s a really demanding job, it can be hugely rewarding at times and it can be glamorous (at times), but I’d argue that the rewarding part is never, or rarely, Bain, also called the “Big 3” of consulting) by a fair margin – the smallest of the Big 4 (KPMG) has 40% more revenue than the largest of MBB (McKinsey). Senior Consulting Roles. A bit about my background, then a few questions for y'all. Bain, also called the “Big 3” of consulting) by a fair margin – the smallest of the Big 4 (KPMG) has 40% more revenue than the largest of MBB (McKinsey). I spent 5 years working as an innov at ion str at egy consultant at McKinsey in the Montreal office. Bain & Co. . This is where Bain and Boston Consulting place. McKinsey & Co. What is the MBB salary range for various levels in SG? Background- 1st yr BSchool student in US who is looking to move to SG and pursue MBB post MBA. 13. Mckinsey has an edge over both of them. “LEK Consulting is a different place than McKinsey, but for some people, it will be a better place to work. Choosing between McKinsey, Bain, and BCG? McKinsey vs Bain vs BCG If you've worked hard enough to secure an offer at all three firms then up to date information. So what does this mean for you as a It seems that McKinsey is the company that produces the most CEOs of Fortune 500 firms according to an article on Forbes, but it is interesting to note that only one in six new hires at McKinsey actually stays with the firm for more than 5 years. The firm has come out top of the Vault's ranking of consulting firms for fourteen years. I am a T10 MBA who is considering recruiting for consulting. 3 Bain & Company reviews. The Big Three pay varying performance bonuses for undergraduates – Bain offers up to $22,500 or 25% of base, while for Boston it’s $18,000 and it's $15,000 for McKinsey. 2. For example Bain Chicago is going to be markedly different from Bain San Francisco given the types of people who self-select for project work. In 2014, it was replaced at #1 by McKinsey & Company, by . Sequel to my earlier post on Big 4 vs CBN vs FIRS, someone asked that I do similar comparison for Management Consulting Big 3 (McKinsey, Bain, BCG aka MBB) and Professional Services Big 4 (KPMG, PwC, EY, Deloitte). The top three consulting firms — McKinsey, Bain, and BCG — have acceptance rates of less than five percent during any given year. For a given role, McKinsey, BCG, Bain and their counterparts (MBB+) pay about 20% more than PwC, KPMG, EY, Deloitte and similar firms (BIG4+). A strategy consultant is needed when one of these happen: 1. 1. 5% of base + bonus for a 401k plan, and BCG deposits a share of profits into a new undergrad employee’s 401k. In addition, BCG was not far behind with 26 hires also, and Bain snapped up 22 MBAs from Booth. The career path at Bain is steep but extremely rewarding. This is why everyone keeps talking about ACN -> Bain. However, they do have placement programs within the firms where they help you transition into a new job if you are counseled out or decide to leave. level 2. So who are the most distinguished alumni of McKinsey, BCG and Bain? These firms differ a lot between whether you are looking from the outside as someone hiring them or the inside. Yet when selecting a forecasting method, the “modern vs. It’s worth noting that the Top 3 consulting firms are around a tenth of the size of the Big 4. 4 billion USD. MBB (McKinsey, Bain Boston) are generally seen as a kind of tripartite Response 1 of 61: What about Bain vs Deloitte? Below is a field report from a reader of mine who recently started working at BCG after a year at a Big 4 Accounting Firm. Here’s my comparison of consulting in a Big 4 Accounting firm and at BCG (note from Victor while this readers experience is specific to BCG it can apply to McKinsey and Bain as well) Last year McKinsey placed third, right in the middle of the big four. MBB (McKinsey, Bain Boston) are generally seen as a kind of tripartite Most McKinsey, BCG and Bain offices use two rounds of interviews before making a final hiring decision. comrecommended books - https://www. McKinsey, BCG, Bain, and other strategy consulting firms use case interviews in their recruiting process. In preparation for this meeting, a McKinsey team, working together with a group of external thought leaders and academics, are preparing a report on the importance of Innovation as a contributor to economic growth. Summer internship recruiting for 2022 at the Big 3 consulting firms — McKinsey, Bain … Hey all, I got an offer from McKinsey to come in as an associate, and I think I'll take it eventually, but I'm having trouble deciding whether to defer the offer and do a residency first. An entry-level consultant in the US makes $77k in base salary at MBB+ vs $66k at the BIG4+. It’s part of a bid to compete with investment banks in luring the best talent, insiders say. 4k Average bonus: 25. McKinsey alone receives over 200,000 CVs a year, for approximately 2,000 open positions in the strategy consulting team worldwide. What is your ultimate career goal? Working 2-3 years for a respectable consulting firm will allow you to either pursue graduate degree or transition to other industries. McKinsey vs Bain. And at Columbia, out of 727 students. 7 percent of all hires in the Class of 2018 headed off to one of the three, with McKinsey taking 39 graduates alone. Bain & Company. Consulting Industry Report Bain McKinsey adding average salary to average bonus. I think Bain is better than both of them. 539 VOTES SELECT ONLY ONE ANSWER. The resume screening step is where most applicants are eliminated. INSEAD sent more than 280 MBAs to McKinsey, Bain and BCG in 2017 alone, representing roughly a third of that year McKinsey's director of recruiting explains how to get a job at McKinsey & Co. And the McK brand. At Chicago Booth, 17. But the one that's best known for its frameworks and methodology is probably BCG. Together, they’re simply known as MBB, and they have been — and remain — the three most sought-after employers for undergraduate students yearning to break into the industry. It's bigger than its two main rivals (BCG and Bain & Co. But some experts worry that the hawkish recruiting timelines could be detrimental. Response 1 of 61: What about Bain vs Deloitte? www. But Bain offers a higher performance bonus than McKinsey, worth up to $41,250. So, if say you got a job offer in the Dallas office of Bain vs. BCG, in particular, likes specialists from other fields. [deleted] · 5y. All management consulting firms, and certainly McKinsey, BCG and Bain, expect candidates to be very comfortable with quantitative data, statistics, and the ability to make decisions and client recommendations based on data. Bain & Company is the third largest of the prestigious “MBB” (McKinsey & Company, The BCG, or Bain & Company). The combined prestige of firms McKinsey & Company, Boston Consulting Group, and Bain & Company is a well-known fact in the world of management consulting. McKinsey vs Bain vs BCG. Yes – McKinsey, Bain and BCG like to hire experienced candidates with graduate degrees in other fields, even if they have no business background. Case interviews are about 30 minutes long during which you will analyze and solve a business problem. So if you are a particle physicist, medical doctor or ethnobiologist, it will be fine, provided you fulfill the criteria above. the competitors vs. Statistical methods, including time series models and regression analysis, are considered traditional, while machine learning methods, such as neural network, random forest and the gradient-boosting model, are more modern. Just my two cents. During Gupta's time as head of McKinsey, the firm opened offices in 23 new countries and doubled its consultant base to 891 partners, increasing revenue 280 % to $3. Hundreds of companies, including premier consulting firms like McKinsey, Bain, and BCG as well as Google, Amazon, Capital One, and Facebook use cases to decide if you’re good enough for their A-Teams. McKinsey also has an edge on alum networking. what each customer segment wanted. VERY partner driven firm. “If they’re not in the top three, that doesn’t mean that they’re not great places,” Curtis says of the boutique firms. An estimate of how frequently this keyword is searched across all search engines. I think it’s important to keep that in mind. Jobs at Top Tier strategy consulting firms (McKinsey, BCG, and Bain) are notoriously competitive. 0. Base salary. The score ranges from 1 (least traffic) to 100 (most traffic). But there are signs that the firms’ decades-long dependence on MBAs is waning. These firms are the most prestigious in consulting. function. If you've worked hard enough to secure an offer at all three firms then congratulations. 195sports. A conversation with Davis Nguyen of https://www. Bain partners with clients that In the consulting world, your resume is even more important. The salary of managers (Project Leaders) can hit $240,000, while Principals and Partners can make up to $1,000,000. the San Francisco office of Bain, you could expect to earn slightly different compensation, due to the different cost of living in those cities. The team intends to introduce a concept to the G8 representatives known On Aug. McKinsey BCG Bain & Company. We help our clients harness the power of data and McKinsey requires you to be really good at solving business cases and you need to successfully crack 5 cases to get the offer. Now, for the first time, an extensive analysis of MBA recruits at the MBB, done by Menlo Coaching, the premium MBA admissions consulting firm, has Then it would involve analyzing the company’s capabilities vs. MBB stands for McKinsey, BCG and Bain, the top 3 Are you interested in a career in consulting but are not sure whether to join IT consulting or an MBB firm? MBB stands for McKinsey, BCG and Bain, the McKinsey, BCG and Bain each have a slightly distinct work approach. For the location - you will be traveling most of the time and will not spend a lot of time at the office, so you can always take a flight to your parents place anyway. firmsconsulting. Op · 6y. A free inside look at company reviews and salaries posted anonymously by employees. facebook twitter reddit hacker news link. We help our clients create change that matters—transformation, enabled by technology and sustained through capabilities. 18 points). All of these firms offer great exit opportunities and pay. McKinsey Digital. For BCG, that’s between $500 and $8k, while McKinsey offers from $2k to $10k. MBB stands for McKinsey, BCG and Bain, the top 3 Are you interested in a career in consulting but are not sure whether to join IT consulting or an MBB firm? MBB stands for McKinsey, BCG and Bain, the Choosing between McKinsey, Bain, and BCG? McKinsey vs Bain vs BCG If you've worked hard enough to secure an offer at all three firms then up to date information. 17 points on a 10 point scale. Bain & Company/Facebook. This year, the big four (PWC, Deloitte, KPMG and EY) still took four of the five top places. For example, Bain, McKinsey, Accenture and others have historically practiced this. The difference in salary is not important since on the other side Bain offers $5k, while BCG and McKinsey offer a range depending on the cost of the move. These cases are typically inspired from actual consulting projects. amazon. The manager role is the one from which top management is groomed, with most managers rising internally from the consultant position. Copy Link. Of the big three, Bain stands out for its culture. VOTE VIEW RESULT.