During my undergraduate education, I was always mesmerized by the sessions run by the MBB consulting firms: McKinsey, BCG, and Bain.
Having worked at a boutique consulting firm and a Big 4 firm, I always sensed that the MBB experience was distinct. My friends at MBB firms have unique opportunities, such as travelling the world on client projects, participating in secondments at external nonprofits, or pursuing their MBAs in the US or Europe.
Now, as an experienced hire at an MBB firm, I have gained a unique vantage point and can observe key differences that I hope to share with you.
Why choose an MBB consulting firm?
My career path has taken me through consulting, joining a startup and becoming an operator, and then returning to consulting at an MBB firm.
So why did I come back when many of my startup peers had exited from an MBB firm?
Three main reasons.
1. High-profile clients
MBB firms typically work with leading global companies, governments, and non-profit organizations. The projects are often complex, high-stakes, and require innovative solutions, providing consultants with significant learning and growth opportunities. I wanted to dive deep into the transportation industry and build my expertise and network there.
2. Prestige and brand recognition
MBB firms are globally recognized as the top consulting firms. This prestige can open doors to high-profile clients, career opportunities, and a robust professional network. I knew that the prestige could help in my future job search and potentially in an MBA application. Additionally, experience at an MBB firm can add significant value to a resume, hopefully leading to better career opportunities and higher earning potential in the long term.
3. Strong alumni networks
The alumni networks of MBB firms are powerful and supportive, providing ongoing career support and opportunities.
How is the MBB experience different?
With a culture that prioritizes training and development, MBB consultants are empowered to reliably generate innovative solutions aided by the unparalleled resources at their disposal in a structured, fast-paced, and supportive environment.
My experience with an MBB firm was unique and enriching for at least five (5) reasons.
1. Training and Development
MBB firms invest heavily in the training and development of their consultants. This includes formal training sessions, mentorship programs, and continuous on-the-job learning. This structure provides extensive formal mentorship, allowing you to develop additional skills.
2. Innovation and Thought Leadership
Contrary to the perception that consulting firms are old and slow to adapt, MBB firms are often at the forefront of innovation across industries. They leverage the latest tools and methodologies, and produce significant thought leadership through publications, research, and public speaking, influencing the broader business landscape.
3. Access to Endless Resources
MBB consultants often have access to extensive resources on client projects, far beyond what I was accustomed to in previous roles. For example, I had access to:
- Dedicated research teams providing support by gathering data, conducting analyses, and generating insights.
- Proprietary tools and methodologies enhancing my ability to analyze problems and develop solutions efficiently.
- A network of specialized experts and industry veterans offering insights and guidance on complex issues.
- Flexible staffing allowing for the addition of subject matter experts or additional consultants for particularly challenging tasks.
4. Organized and Structured Consulting Approach
The work environment at MBB firms is fast-paced and demanding, with high expectations for performance and productivity. Despite the pressure, there is a collaborative culture where teamwork and mutual support are emphasized. Daily operations include structured routines with morning check-ins, late afternoon check-outs, and regular problem-solving sessions with internal leadership teams, ensuring a methodical approach to client demands.
5. True Support for Colleagues
MBB firms often sponsor consultants to pursue an MBA at top business schools or other advanced degrees. They also offer office rotation programs, allowing consultants to work in different offices globally and gain diverse experiences. Additionally, there are opportunities to transfer between different practice areas (e.g., healthcare, technology, finance), allowing you to develop expertise in multiple areas. Recognizing the importance of work-life balance, MBB firms offer flexible working arrangements, such as part-time schedules and remote working options.
Bottom line – is MBB worth it?
The answer to this question depends on what stage you are in your career.
If you’re an undergraduate looking to break into consulting, joining an MBB firm is probably your best option given the benefits it provides to junior colleagues. Focusing on acing the interviews can significantly accelerate your early career trajectory.
If you’re already at a consulting firm and considering a lateral move to an MBB firm, there are several factors to consider:
- Prestige and Complex Projects: You may gain a boost in prestige and access to more complex projects with larger-scale clients.
- Rigorous Interview Process: Be prepared to undergo a rigorous interview process.
- Loss of Tenure: You might lose some tenure when joining an MBB firm as an experienced hire.
Ultimately, the decision on whether to join an MBB firm depends on how much value you place on the additional benefits provided by MBB firms, such as high-profile clients, robust training, and strong alumni networks.
In conclusion
I truly enjoyed my time at an MBB firm despite joining as an experienced hire and later in my career.
While other consulting firms offer valuable experiences, MBB firms are often considered the gold standard in the industry, providing a unique combination of prestige, learning, and career development opportunities.
Jeff Zhang currently serves as a Consultant at McKinsey, specializing in private equity, transportation, technology, and sustainability sectors. Before this role, he spearheaded the creation of an innovative final-mile logistics product at a startup, later acquired by Shopify. His background includes significant experience in consulting, logistics and successful applications to global MBA programs.
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