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MBB Vs Boutique: Why I Would Avoid Big Consulting Firms | The HONEST TRUTH
Dreaming of MBB (Mckinsey, BCG & Bain)? There's more to consulting than the big names. This video explores MBB's downsides and reveals why boutiques offer a compelling alternative - we talk culture, generalisation, and a work/life balance, to name a few😉. Essential viewing for consulting hopefuls!
⏱️Chapters
00:00 - Intro
01:08 - Pros of MBB
04:34 - The Cons of MBB - Scandals
07:17 - Up or Out
09:08 - Constant Pressure
11:40 - The Case For Boutiques
13:25 - Firm Structure
15:02 - Client Focus
15:52 - Work/Life Balance
17:30 - Brand Recognition
18:32 - My Opinion
Graphic design by the talented @evedbdesign - / evedbdesign
🔗 Links
- Consulting Work/Life Balance - www.consultancy.uk/career/work-life-balance
- Consulting on the Cusp of Disruption - hbr.org/2013/10/consulting-on-the-cusp-of-disruption
- A Pivot Towards Boutique Consulting Firms - www.talentresponse.com/single-post/2016/04/27/a-pivot-towards-boutique-consulting-firms
- Consulting Firms Comparison - mconsultingMBB (Big Three) Consulting Firms Comparison | MConsultingPrepprep.com/mbb-consulting-firms-mckinsey-bcg-bain
- Things they look for in Consultants - managementconsulted.com/mckinsey-bain-and-bcg-3-things-they-look-for-in-consultants/
- Regional Attrition Tenure - www.consultingpoint.com/market-information/2021/3/29/regional-attrition-and-tenure
- Whats the Mckinsey Turnover like for Clients & Employees -www.preplounge.com/en/consulting-forum/whats-the-mckinsey-turnover-like-for-clients-and-employees-5218
- Consultant Retention Crisis - www.hrdive.com/news/consultant-retention-crisis/700972/
- Why High Talent Turnover is the Greatest Threat to you Consulting Firm - www.accelo.com/resources/blog/why-high-talent-turnover-is-the-greatest-threat-to-your-consulting-firm-and-what-you-can-do-about-it/
- Stay at Big 4 or jump to a Boutique - www.wallstreetoasis.com/forum/consulting/stay-at-big-4-or-jump-to-boutique
- The Benefits of Working with a Boutique Consulting Firm - www.konakaicorp.com/the-benefits-of-working-with-a-boutique-consulting-firm
- Boutique Consulting Firms - www.myconsultingoffer.org/list-top-management-firms/boutique-consulting-firms/
- Comparing Large vs Small Consulting Firms - www.rebeccaxliu.com/journal/comparing-large-vs-small-boutique-consulting-firms
- Boutique Consulting Firms - www.preplounge.com/en/articles/boutique-consulting-firms
- John Oliver on Mckinsey - ua-cam.com/video/AiOUojVd6xQ/v-deo.html
- How McKinsey Helped the Trump Administration Carry Out Its Immigration Policies -
www.nytimes.com/2019/12/03/us/mckinsey-ICE-immigration.html?smid=url-share
- Mckinsey Opiods Settlements - www.nytimes.com/2021/02/03/business/mckinsey-opioids-settlement.html
- Bain & Co Barred From Uk Government Contracts - www.theguardian.com/business/2022/aug/03/bain-and-co-barred-from-uk-government-contracts-over-grave-misconduct-in-south-africa
- MBB Prestige - mconsultingprep.com/mbb-prestige
- The Many Times McKinsey has been Embroiled in Scandals -
www.trtworld.com/magazine/the-many-times-mckinsey-has-been-embroiled-in-scandals-43996
- BCG - Cosy Relations -
www.theguardian.com/australia-news/2023/sep/26/boston-consulting-group-accused-in-senate-inquiry-of-securing-contract-extension-through-cosy-relations-with-officials
- Up or Out Policy at MBB - casecoach.com/b/up-or-out-policy-mckinsey-bcg-or-bain/
- McKinsey piles Up or Out Pressure - www.bloomberg.com/news/articles/2024-03-27/mckinsey-piles-up-or-out-pressure-on-some-us-consultants?embedded-checkout=true
- Pulp Fiction Clip - ua-cam.com/video/qY2Vx8-yOsQ/v-deo.html
- Best Boutique Management Consulting Firm to Work from in The UK - www.consultancy.uk/news/17379/the-best-boutique-management-consulting-firms-to-work-for-in-the-uk
- SN1 Consulting - Boutique Consultancy Example - sn1-consulting.com/
- Elevenlabs - for the AI Voices - elevenlabs.io/
- Print T Shirt Design Shop - www.tshirtstudio.com/t-shirt-printing/design-your-own-t-shirt
- Highbury Comms - Boutique Consultancy Example - highburycomms.com/#:~:text=Highbury%20Communications%20is%20a%20boutique,%2Dups%2C%20and%20global%20businesses.
- MBB 10 Most Distinguised Alumni - www.morganmckinley.com/au/article/mckinsey-bcg-and-bain-s-top-10-most-distinguished-alumni
- Best Consulting Firms for Prestige - vault.com/best-companies-to-work-for/consulting/best-consulting-firms-prestige
- Sundar Pichai Clip - ua-cam.com/video/ixRanV-rdAQ/v-deo.html
- Apocalypse Now Clip - ua-cam.com/video/1RHo_ZG-YGo/v-deo.html
- How I Broke into MBB from a Non-Target School - ajpandawrites.medium.com/how-i-broke-into-mbb-from-a-non-target-school-52148027f958
#consultant #consulting #corporate #consultinglife #careerchoices #realtalk
⏱️Chapters
00:00 - Intro
01:08 - Pros of MBB
04:34 - The Cons of MBB - Scandals
07:17 - Up or Out
09:08 - Constant Pressure
11:40 - The Case For Boutiques
13:25 - Firm Structure
15:02 - Client Focus
15:52 - Work/Life Balance
17:30 - Brand Recognition
18:32 - My Opinion
Graphic design by the talented @evedbdesign - / evedbdesign
🔗 Links
- Consulting Work/Life Balance - www.consultancy.uk/career/work-life-balance
- Consulting on the Cusp of Disruption - hbr.org/2013/10/consulting-on-the-cusp-of-disruption
- A Pivot Towards Boutique Consulting Firms - www.talentresponse.com/single-post/2016/04/27/a-pivot-towards-boutique-consulting-firms
- Consulting Firms Comparison - mconsultingMBB (Big Three) Consulting Firms Comparison | MConsultingPrepprep.com/mbb-consulting-firms-mckinsey-bcg-bain
- Things they look for in Consultants - managementconsulted.com/mckinsey-bain-and-bcg-3-things-they-look-for-in-consultants/
- Regional Attrition Tenure - www.consultingpoint.com/market-information/2021/3/29/regional-attrition-and-tenure
- Whats the Mckinsey Turnover like for Clients & Employees -www.preplounge.com/en/consulting-forum/whats-the-mckinsey-turnover-like-for-clients-and-employees-5218
- Consultant Retention Crisis - www.hrdive.com/news/consultant-retention-crisis/700972/
- Why High Talent Turnover is the Greatest Threat to you Consulting Firm - www.accelo.com/resources/blog/why-high-talent-turnover-is-the-greatest-threat-to-your-consulting-firm-and-what-you-can-do-about-it/
- Stay at Big 4 or jump to a Boutique - www.wallstreetoasis.com/forum/consulting/stay-at-big-4-or-jump-to-boutique
- The Benefits of Working with a Boutique Consulting Firm - www.konakaicorp.com/the-benefits-of-working-with-a-boutique-consulting-firm
- Boutique Consulting Firms - www.myconsultingoffer.org/list-top-management-firms/boutique-consulting-firms/
- Comparing Large vs Small Consulting Firms - www.rebeccaxliu.com/journal/comparing-large-vs-small-boutique-consulting-firms
- Boutique Consulting Firms - www.preplounge.com/en/articles/boutique-consulting-firms
- John Oliver on Mckinsey - ua-cam.com/video/AiOUojVd6xQ/v-deo.html
- How McKinsey Helped the Trump Administration Carry Out Its Immigration Policies -
www.nytimes.com/2019/12/03/us/mckinsey-ICE-immigration.html?smid=url-share
- Mckinsey Opiods Settlements - www.nytimes.com/2021/02/03/business/mckinsey-opioids-settlement.html
- Bain & Co Barred From Uk Government Contracts - www.theguardian.com/business/2022/aug/03/bain-and-co-barred-from-uk-government-contracts-over-grave-misconduct-in-south-africa
- MBB Prestige - mconsultingprep.com/mbb-prestige
- The Many Times McKinsey has been Embroiled in Scandals -
www.trtworld.com/magazine/the-many-times-mckinsey-has-been-embroiled-in-scandals-43996
- BCG - Cosy Relations -
www.theguardian.com/australia-news/2023/sep/26/boston-consulting-group-accused-in-senate-inquiry-of-securing-contract-extension-through-cosy-relations-with-officials
- Up or Out Policy at MBB - casecoach.com/b/up-or-out-policy-mckinsey-bcg-or-bain/
- McKinsey piles Up or Out Pressure - www.bloomberg.com/news/articles/2024-03-27/mckinsey-piles-up-or-out-pressure-on-some-us-consultants?embedded-checkout=true
- Pulp Fiction Clip - ua-cam.com/video/qY2Vx8-yOsQ/v-deo.html
- Best Boutique Management Consulting Firm to Work from in The UK - www.consultancy.uk/news/17379/the-best-boutique-management-consulting-firms-to-work-for-in-the-uk
- SN1 Consulting - Boutique Consultancy Example - sn1-consulting.com/
- Elevenlabs - for the AI Voices - elevenlabs.io/
- Print T Shirt Design Shop - www.tshirtstudio.com/t-shirt-printing/design-your-own-t-shirt
- Highbury Comms - Boutique Consultancy Example - highburycomms.com/#:~:text=Highbury%20Communications%20is%20a%20boutique,%2Dups%2C%20and%20global%20businesses.
- MBB 10 Most Distinguised Alumni - www.morganmckinley.com/au/article/mckinsey-bcg-and-bain-s-top-10-most-distinguished-alumni
- Best Consulting Firms for Prestige - vault.com/best-companies-to-work-for/consulting/best-consulting-firms-prestige
- Sundar Pichai Clip - ua-cam.com/video/ixRanV-rdAQ/v-deo.html
- Apocalypse Now Clip - ua-cam.com/video/1RHo_ZG-YGo/v-deo.html
- How I Broke into MBB from a Non-Target School - ajpandawrites.medium.com/how-i-broke-into-mbb-from-a-non-target-school-52148027f958
#consultant #consulting #corporate #consultinglife #careerchoices #realtalk
Переглядів: 4 222
Відео
Are You Made For A Career In Consulting? | MBB, Big 4
Переглядів 2,5 тис.6 місяців тому
Uncover the essential traits for thriving in consulting, from analytical prowess to clear communication. The insights were taken from interviews with 10 current and former consultants from MBB, Big 4 and Boutique consultancies. ⏱️Chapters 00:00 Intro 01:08 Assumptions 01:32 Education 02:21 Adaptability 04:03 Self Discovery 06:00 Analytical Thinker 09:19 Detail-Oriented 11:10 Communication 12:35...
Why You Will Quit Consulting After 2 Years | MBB, Big 4 | The HONEST TRUTH
Переглядів 84 тис.7 місяців тому
Discover the truth behind the high turnover in consulting firms and explore the real reasons why consultants leave after 2-4 years. ⏱️Chapters 00:00 - Introduction 01:28 - The Structure of a Consulting Firm 02:42 - The Two Year Choice 03:38 - Opportunities & Higher-paying offers 05:04 - Pressure 07:32 - The Problem of Intangibility 09:28 - Tenure Over Merit 10:46 - Learning: Diminishing Returns...
CONSULTING: Everything You Need To Know - Salaries, Exit Opportunities, Work Culture
Переглядів 10 тис.9 місяців тому
CONSULTING: Everything You Need To Know - Salaries, Exit Opportunities, Work Culture
Consultant for 4 years. Projects all have their own stressors you need to adapt to. Doubt I’ll leave but the stress is constant. Focus on keeping my head down and retiring early.
You referenced 'Empire of Pain' - well, you should should also read 'When McKinsey comes to Town' - eye opening to say the absolute very least.
Thanks for the recommendation! Ill give it a read for sure
How can you break in without a degree?
Good information but I am subscribing because your video layout was awesome lol. Keep it up bro
As a former Big4 Senior Data Scientist that was working for almost 3 years until the Tech Layoffs affected me because I was hired during the Pandemic year. I was affected by the long hours (52+) and the mental workload that came with it. I used to work all-nighters every Thursday night so I can complete my work by Friday. Until I received a promotion, I stopped doing that extra workload and they noticed and put me on the chopping block. I helped the firm earn more than 2 million dollars with just me and my manager and then they invested in more people after the second year. I felt like I actually did something after a system I labeled as critical became on the national news 3 months after I left the project. The stakeholders didn't want to hear that their data was suffering and they called themselves "the best in the industry" until that disaster occurred. I honestly wish I never joined consulting because it is all politics and I am now overqualified for jobs I want. I have so many interviews with FANG level companies, when I just want a normal 60k job now. I am looking for a regular position in the industry now but that is tough with the job market.
The quality of this video is incredibly interesting ❤
Glad you think so!
That is why you just pile up money while you are working in consulting firm. Then put some of them as capital to create a business or build up passive income streams or both. If the company is not good, I leave before my first year.
Second point that’s a little misleading is around the work. I think there’s a little bit of a bias since the interviewees all seem to be strategy centered consultants. There’s plenty of consulting work out there that is actual real delivery. Big system implementations, custom software development, etc… where you do “see” the impact of the work you do..
Though I agree with many of the points in the video. I disagree with the statement that you just get shipped off to some project one after another. I can’t speak for all firms, but I’ve found that I always get myself on projects that I want to be on. Granted I take charge of my career, be strategic about networking (when my current project is about to end) to get myself where I want to go but this has worked wonders in navigating a long consulting career.
Thanks for the valuable insight! I heard quite mixed things about people's ability to choose which projects they work on - it seems to vary quite a lot company to company and even person to person
This video is very accurate and I really want to highlight that you actually have more control over your own destiny than the video portrays. If you perform at a high level, you can by and large pick your staffing just by being on top of the list for those you want to work with again... and being willing to slightly weaponize incompetence for those you don't want to work with.
Thanks for the comment and insight!
business ethics will not pay off your mortgage. thats all ill say
still MBB for me 🙂
The salary is way off… MBB is $130K out of undergrad, Big 4 is $80K on average
Thanks for the correction!
Too Good 💎 what would be some best books to read for becoming a consultant ? I am an mep hvac engineer in Aec construction industry working for air conditioning projects...
Here are a couple I found online that look good: The Art of Consultancy & Case Interview Secrets. I haven't read them myself but does anyone else in the comments have any suggestions?
@@jobsworthy Sounds good 😊 could you name the author of book art of consultancy as i can't find it exactly by name ? I am in service based industry so hope it works for me also ..
I guess it varies from person to person since some people thrive under pressure. I worked as a management consultant for 4 years before joining the full-time MBA program. Decided to do something different and got a summer internship within the corporate strategy team at a big Canadian bank. During my internship, I missed the constant hustle, continuous long working hours, working on the weekends, stress and urgency. This made me realize that I am not really a good fit for roles outside consulting and I declined my return offer. Recently joined the consulting firm and it feels like home.
Very true! Great to hear your experience, thanks for sharing
Hmmm, the "best two years". Reminds me a bit of a Mormon mission.
I worked an MBB-level consulting firm and at a boutique. On balance, I was way happier at the boutique: the work was more interesting, the hours were better, and the culture more collegial / less toxic. The pay was a bit lower, but was still good, especially relative to the hours worked and the stress. More often than not, I was excited to come to work and work on a new project (the complete opposite of my experience at the MBB-level firm). The reasons I left the boutique were: 1) I wanted to leave consulting and figured I'd have better exit options coming from a more prestigious firm and 2) project volume was starting to slow (I spent too much time 'on the beach' between projects), which made me worried for my job security (as it turns out a bunch of people got laid off a few months after I left).
Excellent insight, thanks for the comment!
*Correction: I misspoke in the video, MBB firms have partners not shareholders. Thank you to @ster2600 for clarifying this
Phenomenal video, you have quite the way with words!
Thats a lovely thing to say, thank you!
MBB firms' commitment to shareholders? McKinsey and Bain do not have shareholders; they are partnerships.
You are right, I misspoke, I am going to pin a correction to the the top of the comments. Thanks for the input, I appreciate it!
I'm not willing to sell my soul for a piece of paper. Big consulting firms are the quintessence of the worst things going on in society
Great video! Finally someone who take a critical approach to explain things and tell the story from both perspectives instead of being biased!
I really appreciate this comment! Thank you
Boutique all the way baby!
Woop woop!
They constantly sell work that doesn’t match the skills they have. No training just pushed into the deep end constantly and unsupported .
capitalism is cancerous
Great video mate !!
Thank you!
Incredibly useful video! As someone coming from a social sciences background and looking to take another MSc but this time around in Management to break into MBB, this was definitely super informative! Thank you 🙏🏼
I'm really happy to hear that! Thanks for the comment and good luck with the Msc, I hope you enjoy it 👍
This is a pretty damn good video bro. Thx
Cheers, that's very kind!
Cool video! It is very spicy at the beginning, and I wish there were a couple of jokes more further in the video, just to keep the experience uniform. Great content, though!
Thank you! Super helpful feedback, I appreciate it and will take it onboard
Really useful, and oddly entertaining. Thank you.
surprisingly good american accent
Haha I'll take that :) thanks
You are on fire!!! Love these videos!
Thank you kindly!
Great video
Thanks! I appreciate it
I have made it 4 years now in consulting, and am now seriously contemplating leaving. The relentless pressure and expectations is making me miserable and making the people around me miserable. This video was very helpful and helped me find perspective. Thank you, you have a subscriber in me 😊
I'm really sorry to hear that you are finding it tough. But I'm glad that my vid can help you to get a sense of things! Thanks for the sub and good luck with whatever decision you choose to make :)
Thanks mate, I have received a very exciting industry offer and will be pursuing that - thank you so much!
Nice one Will! Very interesting :)
Thanks! 😊
Thanks for yet another high quality video! Keep it up ❤
I appreciate that!
What a quality content I've just seen! Thanks ❤️
Thanks!
Quality video, like it was said
Thank you very much!
Where’s the jacket from
Dr Banana, check em out they are great :)
Such high quality videos, thanks for all the info! So helpful
Glad you like them!
Very informative.
Thanks!
Does this also apply to sustainability consulting?
So what I had generally while making this video was big firms like MBB, The Big 4 etc. But much of it applicable across industry. A couple of people I spoke to specialised in sustainability at bigger companies. However if you go work at a smaller specialist firm you might find that things are a little calmer and projects are longer. Not always the case though.
Thanks will this is great!
I like your video style, man- keep it going!
Thanks mate, i appreciate that! Should have a new video up this week
I was a big-4 consultant and I think it is just a great video. So much work went into this haha.
Thank you very much! I really appreciate it :)
I was at a big-4 consultancy and I think some consulting projects can be a bit like being a eunuch in Amsterdam's red light district. You see everyone doing things but you can't do anything yourself - inspired by one Brendan Behan. That's why I quit. High-level strategy anyway. I wouldn't mind consultancies that do strategy and implementation - where you are thinking about strategy as well as helping your clients implement, doing stuff.
I have been working at Bain since 2016, for 7+ years now and made my way from Business analyst to Senior manager. I feel very happy and valued here, worked on multiple exciting projects in different geographies. I would say if you can stay and cope with the pace, it’s better to stay as you get more benefits as your role evolves. Leaders of the firm have worked 20+ years in it, it would be quite challenging to get to their circle from outside
Thanks for the excellent insight! And well done for making Senior Manager, not an easy thing to do