Top 3 vs Big 4 Consulting Firms

Comparing the Big 3 and Big 4 consulting firms piques the interest of many candidates. The top three management consulting firms - McKinsey, BCG and Bain (collectively known as MBB) - are not necessarily the largest in size, but are considered the most prestigious and operate at high stakes.

“The Big Four” are the four largest accounting firms that also have strategic consulting divisions. Although they compete with MBB in certain segments, their core business is audit and tax consulting.
Below is a brief comparison of MBB and the Big 4 - it may help those choosing where to submit their applications.
Size and structure

The top three firms (McKinsey, BCG, Bain) are significantly smaller than the Big 4 - on average 10 times smaller. This creates a different working culture and narrower specialisation. MBBs hire fewer consultants, mostly through a limited number of partner schools, and career trajectories within and after the firm are often more recognisable and prestigious.
The Big 4 firms - Deloitte, PwC, KPMG, and EY - include separate strategy practices: for example, Deloitte Monitor, Strategy& (PwC), and EY-Parthenon. These practices emerged after mergers with external strategy firms: Deloitte acquired Monitor, PwC acquired Booz & Company, and EY acquired Parthenon. The level of integration differs: Deloitte has incorporated Monitor into its existing structure, while EY-Parthenon retains a more distinct identity. Strategy& is still partly separate from PwC. This affects internal processes, culture and brand perception.
Differences in operation

The Big 3 firms (McKinsey, BCG, Bain) have traditionally specialised in strategy, while the Big 4 (Deloitte, PwC, EY, KPMG) have been more concerned with implementing solutions. Today, the boundaries between these areas are blurring: Big 4 are strengthening strategic practices and MBBs are developing implementation skills. Nevertheless, differences in approaches and project types still remain. In MBBs, project rotation is more frequent, which gives a broader experience in a short time.
Remuneration and working hours

Salaries are competitive in both groups of companies, but MBBs tend to offer slightly higher pay and a more balanced schedule. This is partly due to the billing model: at MBB, clients pay per project, not per hour. The Big 4 are often billed by the hour, which affects the internal culture and approach to getting things done.
The choice between these two groups depends on your career preferences: if you want to work in a prestigious firm with a narrow specialisation and the possibility of rapid career progression, the Big 3 may be more suitable. However, if you are interested in a varied job with opportunities for realisation at all stages of projects, the Big 4 may offer more opportunities for professional development and variety of tasks.
Source:
Top 3 vs Big 4 Consulting Firms
https://managementconsulted.com/top-3-vs-big-4-consulting-firms/
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