Each consultancy has people specialise at its own level and within a company some offices are different and individuals are different. Generally though for MBB you're looking at specialisation somewhere a bit before or a bit after Manager promotion. Most specialisation is by industry (e.g. oil & gas, financial services), but there is also capability specialisation - mergers and acquisitions, cost control, etc. Within each area there is of course a ton of variation (oil & gas could be growth, turnaround, innovation, acqusition, etc etc.).
As you get more senior and go through your career you're not necessarily stuck in one place either - People move around due to business and personal needs and so you might develop a speciality in a couple different areas, or you might more from one to another.
Each consultancy has people specialise at its own level and within a company some offices are different and individuals are different. Generally though for MBB you're looking at specialisation somewhere a bit before or a bit after Manager promotion. Most specialisation is by industry (e.g. oil & gas, financial services), but there is also capability specialisation - mergers and acquisitions, cost control, etc. Within each area there is of course a ton of variation (oil & gas could be growth, turnaround, innovation, acqusition, etc etc.).
As you get more senior and go through your career you're not necessarily stuck in one place either - People move around due to business and personal needs and so you might develop a speciality in a couple different areas, or you might more from one to another.