What Is the Difference Between MBB and the Big Four?
If you are thinking about starting a career in consulting, you have probably come across the terms MBB and Big Four. Both represent some of the most prestigious names in the industry, but what exactly sets them apart?
In short, MBB stands for McKinsey, BCG, and Bain, the three largest and most well-known strategy consulting firms in the world. They primarily advise the top management of major companies on important strategic and future-oriented decisions.
The Big Four refers to Deloitte, PwC, EY, and KPMG. They originally come from the field of auditing but have since developed into broadly diversified professional services firms. Today, they offer consulting across many areas, including strategy, tax, technology, and risk management.
With so many terms and firms to keep track of, it is easy to lose the big picture. In this article, you will get a clear overview of what truly differentiates MBB and the Big Four, what they have in common, and which type of consulting firm might best match your goals and career aspirations.
If you are interested in strategy consulting, you have probably heard of MBB – McKinsey, BCG, and Bain & Company. These three firms are known as the Big Three of consulting and are among the most prestigious firms worldwide. For decades, they have been competing for the best clients, projects, and talent. What sets them apart is their outstanding reputation, their global network, and their ability to use data-driven strategy work to shape the direction of entire companies.
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Founded in 1926, McKinsey & Company is one of the oldest and most influential consulting firms in the world. With offices on nearly every continent, McKinsey advises companies across a wide range of industries, from technology and energy to healthcare.
What Makes McKinsey Unique?
McKinsey is known for strategic thinking at the highest level. Its teams advise not only corporations but also governments and NGOs, often shaping entire economic and social developments. The firm’s work spans areas such as Strategy & Operations, Digital Transformation, Marketing, and Sustainability.
McKinsey also stands for thought leadership. The firm regularly publishes studies and reports on global trends and emerging innovations, making it a true knowledge hub for anyone interested in business and the future of industries.
Who Does McKinsey Hire?
McKinsey looks for bright minds from all academic backgrounds who enjoy solving complex problems and taking responsibility. Strong analytical skills, teamwork, and leadership potential are key. Whether you are pursuing a bachelor’s or master’s degree or already have work experience, McKinsey offers structured training, close mentorship, and opportunities to grow quickly in an international environment.
It is no surprise that McKinsey is often referred to as the “CEO factory”. Many top executives including leaders at Google, Meta, and other global players began their careers here.
Bain & Company was founded in 1973 by Bill Bain and a group of former executives from the Boston Consulting Group. At that time, the group was responsible for more than half of BCG’s annual revenue but decided to take a new path and brought many clients along.
From the beginning, Bain placed a strong focus on private equity consulting, advising clients on due diligence processes, portfolio management, and exits. Today, private equity continues to make up a significant share of Bain’s business.
What Kind of Projects Does Bain Work On?
At Bain, you help companies during their most critical moments, for example in turnarounds, building new business areas or managing large-scale transformations. Projects range from start-ups to global corporations. Bain is particularly strong in private equity, supporting clients throughout the entire investment lifecycle from deal sourcing to exit.
What Defines Bain’s Culture?
Bain emphasizes a collaborative and supportive culture. Employees are often referred to as “Bainies.” Entrepreneurial thinking, initiative, and a strong focus on measurable results are key values. One of Bain’s guiding principles, “Results not returns” reflects the firm’s commitment to achieving real impact rather than just delivering analysis.
The Boston Consulting Group was founded in 1963, originally as the consulting arm of the Boston Safe Deposit and Trust Company. Later, the employees took full ownership, creating what is now known as BCG. With its global presence, the firm is considered one of the leading strategy consulting companies in the world.
What Is BCG’s Focus?
BCG advises organizations across a wide range of industries, including financial services, industrial goods, retail and the public sector. The firm’s main focus lies in strategic management consulting, covering topics such as growth strategy, market analysis, organizational change and operational efficiency. BCG also supports many clients in their digital transformation, developing digital strategies, implementing new technologies, improving customer experiences and driving innovation.
The Culture at BCG
BCG’s culture is built around five core principles: “Bring insight to light”, “Conquer complexity”, “Drive inspired impact”, “Lead with integrity” and “Grow by growing others”. Teamwork, mentoring and coaching play an essential role, enabling consultants to take responsibility early and continuously develop their skills.
What Does BCG Look for in Candidates?
BCG seeks motivated talents with strong analytical and problem-solving skills, excellent communication abilities and leadership potential. Academic performance is important, but just as valuable are personal drive and the ability to show that you have already made an impact. Diversity and inclusion are key values at BCG, which actively recruits people from a wide variety of backgrounds and perspectives.
The Big Four are the four largest professional services firms in the world: Deloitte, PricewaterhouseCoopers (PwC), Ernst & Young (EY) and Klynveld Peat Marwick Goerdeler (KPMG). Together, they employ hundreds of thousands of people globally and generated over 200 billion USD in revenue in 2024 according to their financial reports.
Their services now go far beyond traditional auditing. Today, they advise companies in areas such as strategy, tax, law, technology and risk management. This evolution has positioned them as major consulting players and made them some of the most attractive employers for graduates.
With their global reach and similar market share, the Big Four dominate the worldwide market for audit, tax and consulting services, forming their own league within the professional services industry.
PricewaterhouseCoopers (PwC)
Revenue: 55.4 billion USD (fiscal year ending June 30, 2024)
Employees: over 370,000 (2024)
Offices: in 656 cities worldwide
PwC was formed in 1998 through the merger of Coopers & Lybrand and Price Waterhouse, two firms whose roots date back to the 19th century. Since then, PwC has evolved from its origins in auditing into one of the world’s leading professional services firms.
Today, PwC is not only strong in audit, but also in consulting, tax, deals and legal services. Especially in the field of M&A transactions. PwC is among the most active players worldwide. Auditing is no longer the firm’s main source of revenue, as its consulting business has grown rapidly and now includes some of the largest teams in the industry.
What Makes PwC Stand Out?
PwC places a strong emphasis on technology and digital transformation. The firm continuously invests in areas such as artificial intelligence, data analytics, cybersecurity and cloud solutions. This enables PwC to help clients implement digital strategies, manage risks and seize new growth opportunities.
With over 370,000 employees across 149 countries, PwC serves clients in nearly every industry—from global corporations to public institutions. Its purpose, “Building trust in society and solving important problems,” reflects the company’s commitment to creating sustainable impact and strengthening trust in an increasingly digital world.
Deloitte is the largest of the Big Four in terms of revenue and one of the biggest providers of professional services worldwide. With over 460,000 employees, Deloitte serves clients across nearly every industry, from financial services and manufacturing to the public sector. The firm is particularly strong in audit, tax, risk management, strategy and technology consulting.
Deloitte is also active beyond its core business, for example as a sponsor of major sporting events such as the 2012 Olympic Games.
What Is Deloitte’s Purpose?
Deloitte’s purpose is “Make an impact that matters”, which reflects its goal of creating meaningful, lasting change. The firm focuses not only on developing strategies but also on implementing them in practice. Whether it is digitalizing entire business areas, supporting international expansion or managing large-scale transformations, Deloitte accompanies its clients from idea to execution.
What Makes Deloitte Unique?
Deloitte’s consulting practice extends well beyond traditional strategy consulting. It includes global business advisory services, M&A transactions, supply chain optimization and support with regulatory challenges in international markets.
A key focus lies on emerging technologies. Deloitte actively explores areas such as artificial intelligence, robotics and blockchain and helps clients harness these innovations for sustainable growth. Its innovation centers and strategic partnerships ensure that Deloitte remains at the forefront of technology and continues to support organizations in their digital transformation.
EY is one of the most well-known members of the Big Four and has a long and eventful history. The company was formed through several mergers between British and American accounting firms, including Whinney, Smith & Whinney (UK), Ernst & Ernst (US) and Arthur Young & Co. (US). These mergers eventually created Ernst & Young.
In 1997, a potential merger with KPMG was even considered but ultimately failed due to antitrust concerns and high costs. Since its rebranding to EY in 2013, the company has continued to expand, particularly through the acquisition of the strategy consulting firm The Parthenon Group, which strengthened its consulting practice.
Today, EY serves more S&P 500 companies in the United States than any other Big Four firm and is also one of the leading audit and consulting providers in the United Kingdom.
What Is EY’s Purpose?
EY’s motto is “Building a better working world.” The firm aims not only to support companies in traditional areas such as audit and tax but also to guide them through the challenges of digital transformation.
EY has become a strong player in digital transformation consulting, directly competing with firms like Accenture, Capgemini and IBM. The firm has been recognized multiple times as a global market leader in digital business transformation.
What Makes EY Stand Out?
EY is deeply connected to the global start-up ecosystem, supporting entrepreneurs through initiatives such as the renowned EY Entrepreneur of the Year® Award and the EY Start-up Challenge, which combines workshops, mentoring and networking opportunities.
In addition, diversity and inclusion are core elements of EY’s culture. The company pursues ambitious goals, such as achieving gender parity in leadership positions and increasing the representation of underrepresented groups. For these efforts, EY has been recognized multiple times, including being named one of Forbes’ Best Companies for Diversity.
Offices: more than 650 in over 145 countries (2024)
KPMG is the smallest of the Big Four in terms of revenue, but by no means small in its influence. The firm operates a vast network of member companies and is active in more than 145 countries. KPMG provides services in audit, tax and advisory, supporting clients across nearly all industries.
Its consulting practice covers a wide range of topics, from traditional management consulting to digital transformation, technology consulting, M&A advisory and risk management. This makes KPMG one of the most versatile players in the global consulting market.
What Is KPMG’s Purpose?
KPMG’s motto is “Inspire confidence. Empower change.” The company sees itself as a long-term partner to its clients, placing great importance on building sustainable relationships based on trust and collaboration.
KPMG believes the key to success lies in innovation and cooperation. Around the world, the firm operates several Insights Centers that serve as innovation hubs where experts from different disciplines work together, test new technologies and develop solutions to help businesses prepare for the future.
In addition, KPMG regularly publishes studies, industry analyses and whitepapers on current economic trends and works closely with start-ups, universities and technology partners. The goal is to provide clients with up-to-date insights and practical, actionable knowledge.
Although MBB and the Big Four are often mentioned in the same breath, they differ in several key areas – from their service portfolios and client focus to their overall reputation. Here is a quick comparison to help you understand the main differences:
Category
MBB (McKinsey, BCG, Bain)
Big Four (PwC, Deloitte, EY, KPMG)
Focus
Pure strategy consulting
Audit, tax and a wide range of consulting services
Projects
Strategic, high-impact topics at C-level
Mix of strategy, implementation and operational consulting
Clients
Large corporations, governments, private equity firms
Broad range from SMEs to global corporations and public institutions
Both MBB and the Big Four are major players in the consulting world – but their strengths lie in different areas. MBB focuses on deep strategic consulting with close client relationships at the top management level. The Big Four, on the other hand, offer a much broader range of services that include audit, tax, strategy and technology consulting, giving employees more exposure to different types of projects and industries.
Which group is the better fit for you depends on your goals – whether you are looking for strategic depth and a fast career boost at MBB, or broader experience and greater flexibility at the Big Four.
What Do MBB and the Big Four Have in Common?
Even though MBB and the Big Four differ in many ways, they share several fundamental traits that connect them as global top players in the consulting world:
Global Presence: Both groups operate worldwide, with offices on every continent and clients across a wide range of industries and markets.
Partnership Structure: MBB and the Big Four are organized as partnerships. Partners take on entrepreneurial responsibility, bring in their own projects and share directly in the firm’s success.
Consulting Services: While the Big Four originated in auditing, they have significantly expanded their consulting divisions. Today, their service offerings overlap considerably with those of strategy consultancies.
Focus on Talent: Both attract ambitious students and graduates with strong analytical skills, problem-solving ability and leadership potential – regardless of academic background.
Team and Knowledge Culture: Collaboration and knowledge sharing are central to both groups. Projects are typically interdisciplinary and thrive on the exchange of ideas across different fields.
Client Orientation: MBB and the Big Four work closely with their clients to develop tailored solutions that create measurable impact and long-term value.
MBB vs. Big Four: Which Consulting Firm Is Right for You?
Are you wondering whether to apply to a top strategy consulting firm like McKinsey, BCG or Bain or to one of the Big Four? We’ve got you covered. Here are four key factors to consider before making your decision.
The Recruiting Process
The Big Four tend to look for talented graduates with solid academic performance and some practical experience – for example through internships, part-time work or study abroad. Entry is often through structured programs, which makes them particularly attractive to undergraduates and early-career professionals.
MBB, on the other hand, is much more selective. In addition to outstanding grades – typically from top-tier universities – they value exceptional analytical ability, business acumen and relevant internships at leading companies. The interview process is rigorous, especially the case interviews, which require structured thinking and quick problem-solving under pressure.
Compensation Comparison
The salary gap between MBB and the Big Four is most noticeable at the entry level. MBB firms pay significantly higher base salaries, reflecting their strategic focus and the intensity of their selection process.
Typical entry-level salaries in the U.S. (2025):
Firm
Base Salary
Performance Bonus
Total Compensation
McKinsey
$110,000
$30,000
$140,000+
BCG
$110,000
$25,000
$135,000+
Bain
$110,000
$25,000
$135,000+
Deloitte
$85,000
$10,000
$95,000+
PwC
$80,000
$8,000
$88,000+
EY
$80,000
$8,000
$88,000+
KPMG
$78,000
$8,000
$86,000+
While McKinsey, BCG and Bain offer total packages around $135K–$140K, the Big Four typically start between $85K–$95K, depending on role and location.
Still, salary isn’t everything. MBB roles come with faster promotions, prestigious projects and strong exit opportunities, but they also demand exceptional dedication. The Big Four, meanwhile, offer broader specialization options (e.g. audit, tax, or tech) and a more accessible entry path, especially for undergraduates or technical roles.
Working at one of the Big Three is known to be intense and fast-paced. Strategic, high-stakes projects and constant client interaction often mean long hours and frequent travel. Most consultants work around 60 to 70 hours per week, sometimes more depending on project deadlines.
The Big Four generally offer a more balanced workload. Because their projects cover a wider range of areas (such as audit, tax and advisory), work hours are typically more predictable. Average weekly hours range between 45 and 55, though busy seasons can be demanding as well.
A career at either MBB or the Big Four is an impressive achievement and a solid foundation for your future.
The Big Three are seen as launchpads for top careers: many alumni move into C-level positions, join private equity or venture capital firms, or start their own companies.
The Big Four may be less exclusive but offer equally strong long-term paths – from leadership roles in mid-sized firms or startups to internal management positions within their global networks. They provide structured growth opportunities across multiple domains such as strategy, HR, finance or IT, often with a more predictable progression and better work-life balance.
Both groups offer excellent opportunities for international exposure and cross-functional experience, depending on your personal goals and career direction.
Key Takeaways
MBB (McKinsey, BCG, Bain) and the Big Four (PwC, Deloitte, EY, KPMG) are among the most recognized names in the consulting world – and both are highly sought-after employers for aspiring consultants. While MBB focuses on high-level strategic consulting for top management, the Big Four offer a much broader range of services, spanning audit, tax, technology and implementation projects.
The right choice depends on your personal career goals. If you’re looking for a steep learning curve, deep strategic work and elite career opportunities, MBB is the better fit. If you prefer to develop a diverse skill set, explore multiple business areas or aim for a more balanced lifestyle, the Big Four offer excellent opportunities.
What both have in common is a strong emphasis on analytical thinking, teamwork and an entrepreneurial mindset, along with their global reach and client-focused approach. Whichever path you choose, both can open doors and provide a solid foundation for a successful career in consulting.
MBB refers to McKinsey, BCG and Bain, the world’s leading strategy consulting firms that advise top executives on high-impact business decisions. The Big Four – Deloitte, PwC, EY and KPMG – originated in auditing and now offer a wide range of consulting, tax and technology services. MBB focuses on strategy and high-level problem solving, while the Big Four provide broader, more implementation-driven support across industries.
At the entry level, MBB firms offer the highest salaries in consulting, with total compensation often reaching $130K–$140K in the U.S. The Big Four typically start around $85K–$95K, depending on the role and location. However, salary shouldn’t be the only deciding factor – career growth, learning opportunities and work-life balance also play a major role.
It’s generally more difficult to land an offer from MBB. Their recruiting process is highly selective and includes challenging case interviews that test analytical and strategic thinking. The Big Four, while still competitive, have broader hiring programs and offer more entry routes for students and graduates from diverse backgrounds.
MBB consultants often work longer hours, averaging 60 to 70 per week, due to the strategic nature and intensity of their projects. The Big Four tend to offer a more balanced schedule, averaging 45 to 55 hours per week depending on the season. Both can be demanding, but the Big Four usually allow for greater flexibility and predictability.
Both MBB and the Big Four open strong career paths, but they lead in different directions. MBB alumni often move into executive roles, private equity, venture capital or entrepreneurship. Big Four professionals tend to progress into leadership positions within corporations, startups or internal consulting functions – often with more stability and broader expertise.
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