BCG Overtaking McKinsey?
Quite surprised to see that McKinsey's gap in revenue over BCG has suddenly been eroding last few years. Do you think that in the coming years, BCG could overtake McKinsey and be the world's largest strategy consulting firm? I think they've already surpassed McKinsey in headcount but not annual revenue.
Why is this trend happening? McKinsey historically has always been number 1 and have always handled threats to the consulting industry quite well, but recently it looks like BCG has a lot more work and less people on the bench?
Congrats on BCG
It's quite interesting that whenever you go to BCG hiring events or speak to one of their partners/consultants, they can't stop talking about this whereas at McK I never heard anyone ever mention BCG or think about how BCG is doing after 3 years of working here
My mind immediately went to this.
The Economist predicted BCG will surpass McKinsey in revenue by 2027. McKinsey's well-publicized scandals have taken a toll, in addition to a perceived lack of cutting-edge tech consulting. It will continue to do just fine, leveraging on its brand and talented staff, but MBB will have shake ups in the near future as strategy consulting faces challenges.
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(The people of the Riviera have something to say.)
Probably. A lot of people know Bain due to Mitt Romney. BcG gets the least amount of publicity for the MBBs.
How much of this work do top UG kids and MBA candidates really care about? This growth comes from their move downstream, selling long-term implementation projects. There are avoided like the plague by most consultants, and typically staffed by non-core consultants like McKinsey "Digital" or BCG X. Bain's revenues are a bit behind because they've tried to avoid selling implementation projects, but now they're chasing the money as well. They also have non-core consultants doing implementation work with roles like "Operations Associate" and things like that. It is totally possible to move from implementation to strategy work from what I'm aware, so it's not a bad role, just not the same.
Essentially, does it really matter who's on top? There's only so much C-suite 5-year strategy to write for a limited pool of companies that can afford MBB/strategy consultants and don't have in-house consulting teams. Unless you're making partner, MBB is more about what you do during your time there and less about which one you're at.
Interesting point BCG has definitely been catching up fast.
Their push into digital and tech (like BCG X) is driving strong revenue growth, while McKinsey’s been dealing with a few reputation issues and a heavier bench.
Still, McKinsey’s global reach and brand strength keep them ahead for now — but the gap’s definitely getting smaller.
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