What are the best strategy consulting firms beyond MBB? (Reputation, prestige, compensation & Private Equity focus)

Hello!

1 - Top tier firms beyond MBB: Kearney, Oliver Wyman, and Strategy& are excellent alternatives to MBB, well-regarded in terms of reputation, size, compensation, and project quality.

2 - Best consulting firms specialized in Private Equity: Beyond Bain PE Group and McKinsey RTS, strong players include L.E.K. Consulting, AlixPartners, and Alvarez & Marsal (A&M). A&M has particularly grown rapidly in recent years, with a focus on operational strategy and performance improvement within PE portfolios.

3 - Best locations for strategy consulting: For high compensation, prestigious brands, and international exposure, the top consulting hubs are Dubai, New York, Zurich, London, and Singapore. In terms of pay, Dubai would be the highest, followed by New York.

• Dubai is known for tax-free high compensation, rapid career growth, and exposure to high-profile mega/national projects.
• New York provides top-tier pay, excellent exit opportunities to finance and PE, and exposure to diverse industries.
• Zurich offers high compensation, a strong focus on financial services, and attractive work-life balance.
• London is Europe's largest consulting market, prestigious, highly international, but with slightly lower compensation compared to Dubai or New York.
• Singapore serves as Asia’s key hub, providing strong growth, attractive pay, excellent career opportunities, and extensive exposure to Southeast Asian markets.

Ultimately, your location choice should align with your career priorities—whether compensation, prestige, industry specialization, or market exposure.

Hope this helps!

Hey there 😊,

Great question! If you’re looking beyond MBB, several top-tier strategy consulting firms stand out in terms of reputation, compensation, and Private Equity focus. Here’s a breakdown:

1️⃣ Top-Tier Strategy Consulting Firms Beyond MBB

These firms have strong brand recognition, high-impact strategy work, and solid exit opportunities, though slightly below MBB:

✅ Roland Berger (RB) – Strong in Europe & Middle East, known for industrials, automotive, and public sector projects. More regional influence than MBB but still well-respected.
✅ Oliver Wyman (OW) – Financial services powerhouse, also strong in healthcare, digital transformation, and risk strategy. More global than RB but less known for PE work.
✅ Kearney – Historically operations-focused, but now competes in corporate strategy & digital transformation, especially strong in Middle East & procurement projects.
✅ Strategy& (PwC) – The legacy Booz & Co brand still carries weight, strong in public sector & industrials, but often overshadowed by MBB due to PwC integration.
✅ L.E.K. Consulting – Highly specialized in life sciences, healthcare, and private equity, known for commercial due diligence (CDD) and growth strategy work.

📌 How do they compare to MBB?

• Reputation & prestige: Slightly below MBB but still Tier 2 elite.
• Compensation: Base salaries are similar to MBB, but bonuses & perks are usually lower.
• Exit opportunities: Good but not as automatic as MBB—you’ll need to network more for PE/VC/industry exits.

2️⃣ Best Strategy Consulting Firms for Private Equity Work

If your focus is on PE, CDD, post-merger integration, and operational strategy, these firms stand out:

🚀 L.E.K. Consulting – Strongest non-MBB firm for CDD & growth strategy work, heavily involved in PE transactions.
🚀 AlixPartners – Specialized in turnaround, restructuring, and post-merger integration, great exit opportunities into PE portfolio companies.
🚀 OC&C Strategy Consultants – Focused on commercial strategy & due diligence, especially in consumer goods & retail PE deals.
🚀 EY-Parthenon (EYP) – Very strong in PE due diligence, known for volume-driven PE work rather than deep strategy.

📌 Comparison with MBB’s PE practices

• MBB (especially Bain & McKinsey RTS) dominates PE strategy consulting, but firms like L.E.K., OC&C, and EYP are strong alternatives if you want to break into PE-related consulting.
• PE firms prefer ex-MBB consultants, but top-tier PE-specialized consulting firms (like L.E.K. & AlixPartners) can still provide solid exits.

3️⃣ Best Locations for Strategy Consulting (Reputation, Compensation & Career Growth)

Some offices have stronger brands, better compensation, and higher exposure to top-tier clients:

🏆 London – #1 consulting hub in Europe, highly competitive, best for MBB, Tier 2, and PE consulting firms. Harder to break in without strong credentials.
🏆 Dubai – High tax-free salaries, expanding consulting market, and strong demand for strategy consultants, especially in government & infrastructure projects. Easier to enter vs. London.
🏆 Zurich – High salaries (due to Switzerland's cost of living), top-tier strategy consulting work, and a focus on banking & pharmaceuticals.
🏆 Paris – Strong consulting hub, especially for luxury, energy, and industrial clients. More difficult without French fluency.

📌 Where should you aim?

• London & Dubai offer the best exits, high salaries, and strong consulting reputations.
• If you want PE exposure, London is top-tier, but Dubai & Zurich also have growing PE/VC activity.
• Entry difficulty: London is the hardest to break into, while Dubai and Zurich are easier for international candidates.

4️⃣ Final Thoughts & Recommendations

✅ For pure strategy consulting → Roland Berger, Oliver Wyman, Kearney, Strategy&
✅ For PE-focused consulting → L.E.K., AlixPartners, OC&C, EY-Parthenon
✅ Best locations for compensation & growth → London (prestige & exits), Dubai (tax-free high salaries), Zurich (finance & pharma strategy work)

If you’re aiming for MBB in the future, starting in one of these Tier 2 firms with PE exposure can be a great stepping stone. Let me know if you need help with applications or interview prep! 🚀

Best, Alessa 😇

Top-tier beyond MBB:

• Strategy&: Strong strategy focus, PwC backing, excellent training
• Kearney: Rising globally, strong operations expertise
• Oliver Wyman: Financial services powerhouse, analytical rigor
• LEK: Commercial due diligence strength, known for analytical depth
• Roland Berger: European heritage, strong in automotive/industrials

PE-focused firms:

• LEK: Premier CDD shop, best PE exit opportunities outside MBB
• Alvarez & Marsal: Restructuring with growing PE practice
• OC&C: Boutique with strong retail/consumer CDD reputation
• CIL/Parthenon/Strategy&: All have dedicated PE practices

Top locations:

• London: Highest concentration of strategy work, competitive
• New York: Finance-heavy, best compensation potential
• Dubai: Emerging hub, more accessibility for internationals
• Singapore: Gateway to APAC strategy work
• Paris/Zurich: Strong European presence but language barriers

Compensation roughly tracks with prestige, with Strategy& and Kearney at the top end of tier 2. PE-focused roles typically command higher compensation overall due to the specialized expertise required.

You are boiling the ocean here. You are asking about a lot of firms (generally and for PE... and on PE on differing focuses - CDD, PMI, Ops...), on a lot of criteria, and then for offices again for a lot of criteria and then ask us to weight in difficulty of getting in (which is not independent from your own background).

In other words, to give a complete answer it would take hours of writing and consideration, and given how broad your question is, there's still a good chance that you would still have a lot of questions. Please be more targeted. You've obviously done some research, go deeper on that, and ask us to help on the specific gaps or a a sounding board to how you are evaluating your specific situation. 

Don't want to repeat what others said. Just add that you seem to be focusing in Europe. Roland Berger would be a great option, and for boutiques in PE I would add EY-Parthenon to that list.

Hi there,

quite a broad field you are targeting. First of all it would help to understand you situation better, where you are located, what languages you speak etc. 

A few considerations to what others have said already:

• Best locations for strategy consulting: Germany is the second biggest consulting market after the US worldwide. Both BCG and McK have their second largest office in Munich. You probably need to speak German to get a job but so you do in Zurich. Hence, do not know why that has not yet been named. Strategy consulting in London is an aweful value proposition in my view. You get paid way less than in other systems and you live in an extremely expensive city where people in Finance jobs outscale your pay massively. Would definitely refrain from doing Consulting in  the UK

Best,
Sebastian

- OC&C is very well positioned in UK/Germany and the Netherlands, and are known to have a strong PE focus (over 50% of projects in my time there were with leading international PE clients), also provides good exit opps in the markets above. 

- Ultimately your location choice will also have to factor in where you see yourself in a few years'time as a localised firm's strength can give you an edge in terms of exit opps

Hi there,

Some great insights on the different firms already (q1 and 2).

I'd like to add my two cents on the best locations. The ideal office depends on several factors, including client industry focus, associated travel, salary and tax implications, and work authorization requirements.

For example, getting into Zurich or Paris is extremely difficult without strong local ties, fluency in the local language, a work permit, or the right passport. London is slightly easier but still competitive. Dubai is the only location among those mentioned where international hires without prior regional ties are more common, but competition is intense.

Beyond location, also consider the firm, as office culture and travel expectations vary. McKinsey consultants often travel extensively, sometimes globally. BCG tends to be more regionally focused, while Bain operates more locally. 

So, the best choice depends on your career goals, mobility preferences, and ability to secure a position in these competitive locations.

Cheers,

Florian