Hi there, 

There's no transparent and trustworthy source that could actually make this clear. 

The reality is that the strengths differ a lot not only by firm but also by region and many other factors. Plus, they change so often that it's virtually impossible to keep track of them or to measure them in any transparent way.

Best,
Cristian

Hi there,

This is a huge generalization and very country-specific as well! Please be careful here (and make sure to do your own research based on the country/office/region).

In general, Bain is strongest at PIPE (not tech actually). BCG and McKinsey are both quite strong (comparatively) in Tech (with BCG Platinion and McKinsey Digital). They also have growing digital/analytics practices (BCG GAMMA and McKinsey Black). 

Regionally, each of MBB will have different relative industry/function strengths. I.e. in one region one will be better at Public Sector, and in another region it will be flipped.

Why?

Because they are basically franchises! (Partners bring the clients + expertise and build their own practices for each region)

Hi there,

in addition to what already said - If the question was an enabler for you to start thinking about which MBB fits more vs. your career goals etc.., a couple of “pointers”

1) If entering at < Manager and not expert - you will like “have to be” a generalist vs. staying in your target “strong” practice of the firm

In my experience it is not impossible but very hard as junior to be staffed in one industry only. Easier with good performance and affiliation. Nevertheless factors out of your control can sway you away from your target practice (industry/capability) of the firm

2) Applying to MBB/T2 consulting requires diversification

It is a competitive process and I would advise you to “cast your net” wide. Limited downside in doing this, since most firms allow you to re-apply after a period

3) Talking to people from the specific firm in the specific geo (better specific office) only way to understand which firm is “best” vs. your career goals

Too many geographical and office-related factors can change your ability to craft your path in the MBB/T2 firms, that I would really make an effort to speak to someone in your target office to be sure you have a chance to have access to the industry/capability you are looking for + you fit in with the “vibe”

Hope this helps 

Hi there,

It's not clear to me that either MBB are trying to be good at something in particular. Instead, they managed to be perceived to be experts in everything, which is is really something to pull off. They all have more or less the same practices and serve the same types of clients globally. There's variations globally, of course, but it's generally true.

As for the often cited example of Bain being #1 in PE, this may be true when looking at their portfolio. However, when comparing with other MBB, it's not obvious that Bain out-competes the rest in this space.

What I would say is that McKinsey has an edge in terms of depth because of the impressive number of true experts they employ across disciplines. This is followed by BCG and then Bain.

Hope this helps a bit!

Moritz

Hi - I'm able to share my thoughts on this as a former consultant at McK doing PE and strategy work, and a current PE investor purchasing PE work from consultancies.

As context - all of MBB cover most sectors well (esp. vs other consultancies). The biggest differentiator is probably how much they focus on different functions

• McKinsey - the “incumbent”, overall the largest
  • Sectors: probably the best of MBB at “traditional” industries like financial institutions, infrastructure, energy etc.
  • Functions: significant emphasis on corporate strategy, growing more down the value chain (e.g. into operations) and transactions / PE work (this tends to be very large-cap focused as the overall PE-dedicated team isn't huge)
• BCG - “best of both worlds”, tend to market themselves as more innovative than McK, more established than Bain
  • Sectors: Bit tricky to define specialties, know the least about them. Generally as broad coverage as McK, will be better in specific ones (e.g. Media in London is top tier)
  • Functions: Similar to McK have focused on corporate strategy, expanding to more tech-oriented solutions (Gamma, Platinion). Also a growing PE practice which is likely the least developed amongst MBB
• Bain - the “upstart", most well known for their focus on tech and PE work:
  • Sectors: Particularly good at tech, solid at the rest
  • Functions: Most well-known for their PE practice and are building out a practice around full PE coverage (e.g. providing tech DD, financial DD etc.). Conversely they are the least developed in terms of a full industry consulting value-chain amongst MBB (more strategy focus given their size)

These are all great firms to work at, and the commentary will vary by geography but generally holds true! 

It completely varies not just by country but by office. It will often reflect the industry of the city that the office is in (McKinsey San Francisco serves a lot of tech clients, McKinsey London serves a lot of finance clients), but also the specific relationships that the partners have. For example, while McKinsey London serves a lot of government clients, Bain London does not. Your best bet is to talk to people in the offices that you're interested in to see what the main industries are, and in the companies that you're interested in who can tell you which offices serve which industries. 

MBBs focus on a wide range of industries… meaning that they cover (almost) everything. 

You have to think about this at the office/country level.