How are MBB firms structured in London?

I am currently in IB but looking to transition to consulting. How are the MBB firms in London structured? Are you a generalist, do you rotate or do you belong to a specific sector team? What are the sector teams at the various MBB firms?


 
Most Helpful

Team Structure

  • McKinsey (to my understanding) is more of a "get you specialised early" kinda firm, though you can still experiment a bit of variance early on as a BA/JA
  • Bain/BCG are the generalist types where you do lots of different things across sectors and later you are asked to specialise
    • there are some expert pathways available too, where you can specialise early if, say, you did Telco for 5-8 years before and want to stay there

Office Specialisation

  • Google should really be your friend for that
  • Short answer is: it's London, each MBB has exactly 1 office to serve the entire British economy, so we all do everything. Of course, the make up of the UK economy affects what our largest groups are (e.g., FS is big here, but Media/Entertainment is not). And each firm's strong point is just magnified here (e.g., we do a lot of CP/Retail/PE work)

If you have more specific questions, happy to answer, but for that second one, there isn't a lot to add.

 

Many thanks for the reply, this is extremely helpful.

• Are the PE groups separate parts of the business or do people just rotate into the PE group for specific projects / specific time periods?

• Do you have any insight into what sectors MCK / BCG are particularly strong in? 

 
  • PE Group is a little unique because it is both a vertical (mainly PE funds + some corporates & others) and a capability (mainly CDDs + some other stuff like post ac). As a result, we have it as a stand-alone ringfence, meaning if you are staffed in PEG, you do that for 9 months (no other case type in that time). We treat it as a rotation for ACs, but at more senior levels (e.g., SACs / Cs / Ms, etc.) it can be your specialisation / direct point of entry for experienced hires
  • McK/BCG strengths are those you'd expect, so for instance they each have much larger healthcare practices than us, and have bigger digital practices too. Everyone has a big FS practice, we're definitely doing well in CP/retail, but I think McK also does really well there, we lead in PE by a fair margin. As for other verticals, I'd guess whatever McK / BCG are better at than us globally probably also holds true here, by and large
 

Thanks a lot, fellow monkeys!

I just find it a bit ridiculous that so much info is not transparently communicated (salaries, career progression speed, certain policies, eg MBA) when (a) there is no reason for those to be withheld (there's no competitive advantage to being obtuse on salary for instance, although we recently started advertising it on the job posts in the US) and (b) you could all get that by asking literally anyone working at MBB (but then that places the onus on you lot, and creates unnecessary information asymmetry between those who ask 50 people and those who ask 2 or none).

In any case, I'm glad to be of help where I can. I only know Bain london really well. M&B I know only a little second-hand, and other Bain offices I know a little second hand too. But I'll do an AMA soon actually.

 

Can I ask what your onboarding process was like? I'm coming in as a C next year from a non-business background and wondering how quickly I'll be thrown into the deep end or not.

 

Qui sint libero provident deserunt fugiat earum sint. Unde repellat enim laboriosam pariatur quam eum minus. Nobis nostrum aut suscipit id. Excepturi eos molestiae libero quo voluptatem perferendis veritatis. Rerum est facilis voluptas amet nemo magni nesciunt. Quisquam molestiae ut vero et quos a itaque nobis.

Career Advancement Opportunities

April 2024 Consulting

  • Bain & Company 99.4%
  • McKinsey and Co 98.9%
  • Boston Consulting Group (BCG) 98.3%
  • Oliver Wyman 97.7%
  • LEK Consulting 97.2%

Overall Employee Satisfaction

April 2024 Consulting

  • Bain & Company 99.4%
  • Cornerstone Research 98.9%
  • Boston Consulting Group (BCG) 98.3%
  • McKinsey and Co 97.7%
  • Oliver Wyman 97.2%

Professional Growth Opportunities

April 2024 Consulting

  • Bain & Company 99.4%
  • McKinsey and Co 98.9%
  • Boston Consulting Group (BCG) 98.3%
  • Oliver Wyman 97.7%
  • LEK Consulting 97.2%

Total Avg Compensation

April 2024 Consulting

  • Partner (4) $368
  • Principal (25) $277
  • Director/MD (55) $270
  • Vice President (47) $246
  • Engagement Manager (100) $226
  • Manager (152) $170
  • 2nd Year Associate (158) $140
  • Senior Consultant (331) $130
  • 3rd+ Year Associate (108) $130
  • Consultant (587) $119
  • 1st Year Associate (538) $119
  • NA (15) $119
  • 3rd+ Year Analyst (146) $115
  • Engineer (6) $114
  • 2nd Year Analyst (344) $103
  • Associate Consultant (166) $98
  • 1st Year Analyst (1048) $87
  • Intern/Summer Associate (188) $84
  • Intern/Summer Analyst (552) $67
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Betsy Massar's picture
Betsy Massar
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
Secyh62's picture
Secyh62
99.0
5
CompBanker's picture
CompBanker
98.9
6
kanon's picture
kanon
98.9
7
dosk17's picture
dosk17
98.9
8
GameTheory's picture
GameTheory
98.9
9
Linda Abraham's picture
Linda Abraham
98.8
10
Jamoldo's picture
Jamoldo
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”