MBB vs Big 4 - Comparison of Management Consulting firms (with Kajol Patel)
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- Опубликовано: 28 июл 2024
- Do you want to know the differences of MBB vs. Big 4 consulting firms? This video is a comparison of management consulting firms. As a former McKinsey consultant myself, I talk to Kajol Patel, a Big 4 consultant from the RUclips channel @management.consultant. We discuss differences and similarities among management consulting firms. MBB stands for McKinsey, BCG and Bain, the top strategy consulting firms. Big 4 stands for PwC, KPMG, EY and Deloitte, the leading auditors with significant consulting practices. We talk about how the up or out policy works at MBB vs. Big 4, the importance of target unis to get into consulting, differences in the project setup and much more. This video is a comparison of the Big 3 with the Big 4 consulting firms. It compares the Top 3 consulting firms with Big 4 audit firms.
Second video on "MBB vs. Big 4" on Kajol's channel:
• Big 4 vs MBB Compariso...
Kajol's channel: Management.Consultant
/ managementconsultant
Chapters
00:00 Introduction
01:12 Who is Kajol Patel?
01:49 Key facts on Big 4 and MBB
03:51 How important are target unis?
06:03 Does up-or-out really exist?
08:19 How does the project setup differ?
11:24 Wrap-up
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Hello.
Are there any opportunities for rural management consulting in MBB or the Big fours
Hi, do you mean regular work in more rural areas, or development / social work to the benefit of these areas? Re the former, many projects take place in more rural areas, not all clients are in large cities. Re the latter, here there will be some opportunities in the public sector practice or also pro bono work that the firms are doing. Though this is not the largest area of business for MBB / Big 4. Best! Heinrich
@@FirmLearning so, I am doing rural management which covers all the functional domains of rural economy.
So, I wanted to know if any of the MBB or Big 4 are into corporate social responsibility domain or policy making, development sector, if yes what do they prefer in the candidate
@@sonalisingh9972 Ok understood! Yes, this type of work exists, but it is much smaller compared to other practices. Regarding requirements, they will be similar to all the other consulting / client-facing roles (strong academics etc.) + domain expertise if you want to start specifically in that practice. Best, H
@@FirmLearning Thank you for the clarifications
Amazing to see how this channel has taken off recently. Very insightful content. Thanks a lot
Thanks Emil! Yes, it has been a great journey. Thank you for watching!! Best, Heinrich
I am not looking to go to into the consulting industry, but I really enjoy every video you did! I love how you always have great smiles on your face while presenting even the most serious professional topics :)
You’re videos are incredibly insightful. You truly seem like a great person to work with/under. Thank you for passing on these immensely valuable insights.
Super happy to hear that - thank you! Best, Heinrich
Glad you found it useful Jey!
Thank you for having me Firmlearning! Part 2 is on my channel btw! 💫🙌🏽
Thank YOU for doing this with me Kajol :) The pleasure was mine! Best, Heinrich
Belated well done Kajol and Firm learning! Appreciated the honesty e.g about up or out. Raza :)
@@razabadass Thanks for watching Raza :)
Awesome content as always, really happy I found this channel. Just started my consulting career a few months ago, and have found these videos really help bring perspective into the industry as a whole
Hey Jack, Kajol here. Glad you enjoyed it and feel free to ask me any questions you have!
Appreciate it Jack, thanks for watching! Best, Heinrich
Great video!!!
Had a lot of information.
Thank you. Keep up the good work!
Thanks Saurao!! Best, Heinrich
This is one of the most frequently raised question.... Good work defining it guys
Thank you Ayush! Best, H
Thanks Ayush!!
It would be interesting to see your point of view on pros/ cons between an MBB firm and a boutique specialist consultancy!
Hi Amelia, thanks for the idea, might do something like this in the future!! Best, H
Thank you for the interesting videos and insight. I would be interested to learn of what was your cooperation with law firms and investment banks while you were at McKinsey. You did an interesting comparison of MC vs Big4, it would be interesting to see the same comparison with investment banks. Much appreciate!
Hi Taras, thanks for watching! Great idea, I did indeed have several interactions with law firms and IB / PE during my time at consulting. Have noted that down as idea for future videos. Best! Heinrich
Great job Kajol and Henry! Best consulting RUclipsrs on the net!
Thank you Viral, appreciate it!! Best, Heinrich
Thanks Viral - super kind of you!
Thank you so much for creating such value adding content. Could you please do a video on possible exit options after consulting? Also after say 4-5 years in the firm, would one be considered more to be a specialist in some particular sector or are the assigned projects still just as diverse?
Hi Sushmita, thank you for your comment and your video idea! Indeed might pick that up in the future. Yes, after 2-3 years as a BA / Assoicate, it will indeed be expected from you to slowly start specializing in one area of expertise. Best! Heinrich
I worked on the client side with Accenture, Deloitte, McKinsey and others. I have also personally worked at A.T. Kearney and PwC for 7 years, in 3 different practices (NL, US, CH). There is no difference between strategy/top management consultancy and Big4 firms. They work in the same way. It’s a matter of positioning and status.
Yes agree that the similarities are significant. Thanks for sharing! Best, H
Hey Dirk! Kajol here. Agree for sure! I think when you"re on the other slide....it isn't as different as you think!
Big thanks, keep going ! 🔥
Thank you so much. Kajol here! Really appreciate it. Please feel free to send suggestions :)
Thank YOU for watching!! Best, Heinrich
Been watching lots of ur vids and although i dont plan to go to a consulting firm i still learn a lot! Thanks for the knowledge!
Hope you enjoyed this video Daniel and do let me know if you have any Big 4 questions :)
Management.Consultant will do!
Thanks for watching Daniel!! Best, Heinrich
Great video Heinrich 👏. Good to hear a Big 4 perspective (but I am biased 😂). Have you seen many consultants transition between MBB and B4, both ways?
Glad you enjoyed the video - Kajol here :) I've actually seen a lot of Big 4 consultants move to MBB - they're really recruiting for their ops, tech and digital product projects! MBB not so much coming to Big 4 honestly. Hope that helps :)
Thanks for watching appreciate it! :) Agree with Kajol, it happens but not super frequently. Best, H
Hi sir,
Thank you for making this video on MBB and Big 4 consulting firms. Please make a video on how to apply for the roles, intake procedures, interview procedures, tactics to clear the interviews
Happy to do that for Big 4. Kajol here btw
@@KajolPhadnisfirstly Tqs for the insights about big 4.Had hit the subscribe button and a bell icon. Will keep an eye on your channel to watch the video I am expecting. Thank you in advance.
@@aniteshmukherjee thanks a lot! Really appreciate it. What type of stuff would you like to see?
Thanks for watching and your suggestions Anitesh! Will for sure create more videos like this in the future (though check out prior videos as well that talk about these topics). Best! Heinrich
Thank you for the content
Glad you enjoyed the video - do let me know if you have any feedback and Part 2 is on my channel :)
Thanks for watching Richard!! Best, Heinrich
Best video ever ❤️
Great to hear that - thanks for watching Getem :) Best, Heinrich
Hi Heinrich and Kajol thanks for the great info; my question is in regards to the GPA. In my Junior year my involvement in an extracurricular project made it difficult to focus on academics. Will firms consider extensive extracurricular activities that result in less than ideal academic performance ? Thanks !
Hi Mike, in general, yes, exceptional extracurriculars / leadership experience can compensate weaknesses in other areas. Of course in the end it is a case-by-case decision (how much did your grades suffer, how will the firms evaluate your extracurricular experience..) Lots of success to you! Best, H
100 percent can help and show you made a concious effort :)
I could never get into MBB, so I only aimed for Big 4, now I’m in PWC but plan on leaving soon, suffered during to bad politics
Yeah mention this in Part 2 when we went over what challenges in MBB vs Big 4. I think politics is part of every firm but can be especially difficult when firms are so big! Kajol here btw. Hope you enjoyed it.
Sorry to hear it did not turn out as planned. Lots of success to you in the future! Best, H
Thank you for this insightful video! Do you know whether Engineering Management graduates from IVY's are hired for the same consulting and managerial roles as MBA candidates?
Two RUclips legends unite :-)
As always, thanks for watching Alistair! :) Best, Heinrich
Thanks for watching Alistair!!!
What should a youngster do when face a choice in strategy consulting between an entry level position at an MBB vs. a junior manager level at a big 4 strategy consulting outfit. Your advice please. Thanks😊
How would you suggest one can move from selling consulting projects(4 years) for a small co to going on delivery side in consulting at big 4 or MBB?
Hi Tino, the main question will just be whether your profile meets the requirements (regarding academics, type of work experience you have etc.) If you meet the standards and pass the interviews you will be able to join as an experienced hire! Best, Heinrich
Does the big 4 or MBB have an HR consulting business and what's the difference between them and other HR consults such as Korn Ferry and Hay group?
Hi Mohamed, thank you for watching! MBB firms will have an organization practice, where they look into topics like organizational development, capability building and related things. What MBB firms do not do is headhunter activities. Best! Heinrich
Kajol here. Part 2 of MBB vs Big 4 comparison can be found here: ruclips.net/video/9W_9kUtY8Yc/видео.html
Thanks for collaborating with me! Best, H
Can you kindly make a roadmap on how an undergrad student from average B-Schools and with an average grades can get into MBB strategy? And which MBA specialization is best for management consultants (Strategy) ???
Thanks for watching and commenting! I will think about doing a video on this in the future!
Hi Heinrich, does computer literacy such as; HTML, python, etc (coding related stuff) matter in order for a candidate to break into MBB?
Thank you.
Best Regards, Jason.
Hey Kajol here. I think not required to break in but will be useful once in.. MBB also do tech consulting and these days analytics is powering strategy consulting so useful when modelling :)
Hi Jason, it is not a skill you need to get in or succeed. However it will help to understand some more tech-heavy topics and of course will not hurt your case! Best! Heinrich
On top of what was said above, these companies also need core developers, data engineers, data scientists, etc internally. You can work at one of them without being a consultant.
Thank you Kajol and Heinrich! Raza :)
Thanks for watching Raza, great to hear you found it helpful :) Best! Heinrich
@@FirmLearning Du bist wilcommen bruder Heinrich! Danke! Danke! Danke! (sorry my German isn't 100%, I was born in Germany), you're welcome Heinrich bro! Thank you man! I appreciate it! Raza =)
@@razabadass haha thanks Raza :) Best! Heinrich
:)
:)
I'm planning to land in consulting career, can you help me in making CV for McKinsey?
Working environment is very bad in E Y. Lot of pressure and there is no working hours they will give work in odd hours after the normal work(9 to 5 pm ) particularly in this Corona pandemic period.
Sorry to hear you made this experience. Lots of success to you for the future! Best, Heinrich
Sorry to hear that Ajith. I think company culture differs within each country you're in which is why it is so important speaking to people within that firm imo. Good luck!
@@FirmLearning Thanks
Destroyed the like button, but you can have a walkthrough of what folks do at McKinsey by doing a study and walking through it in one of your videos. Maybe, why the likes are 300 something on 14k views in this video. What was the breakdown of the viewership of this video, and the channel and another type of video, and have a benchmark of sorts, and definitely create slides to showcase everything.
Hi Soubhik, thanks! Do I understand correctly you would be interested in a breakdown of the Analytics of this RUclips channel? Best, H
@@FirmLearning Analytics of this channel is an example that I give. What I was referring to was when a consultant/team gets an assignment, what is the exact process that the team goes through to solve it. Analytics of this channel can be a nice dummy assignment in that sense.
Here's a comment. Hope it's value added.
Why didn't you consider companies like Roland Berger, Simon Kucher, Porsche Consulting and other german business consulting firms?
I'm aware of the fact that MBB and Big 4 are rather international and probably by far the best known ones regarding management consulting. Hence, most of them are not primarily a management consulting firm, am I right? They consist of auditing, tax consulting and management consulting, don't they?
Are they just too small to consider?
I spoke to a bunch of people having worked at one of the Big 4 or MBB and at one of the germany-based consulting firms and they only spoke in high terms of them.
However, great video and thanks for the great content mate!
Hi Liam, yes these Tier 2 / Tier 3 companies for sure can be great employers as well! Especially for the niche topics they are well known for (e.g., Pricing for Simon Kucher). Lots of success to you man! Best, Heinrich
What is the pay discrepancy and do u feel it’s justified ?
In Germany, it is around 30-40% for entry level positions (rough estimate, with differences among the individual roles within Big 4). Whether it is justified or not of course largely depends on your definition of "justice" ;)
@@FirmLearning At Deloitte u get roughly 60k excl. Bonus on average across service lines (some higher, some lower) - I doubt u get 40% more at McK.
microdeluxe In Deloitte Germany, as entry salary in standard consulting arm? Would find that quite surprising.
@@FirmLearning Yes. There are Service Lines where u get a little less and some a bit more (Monitor is highest paid). On Average u will get around 60k with 10% Bonus. Deloitte Consulting increased salaries massively around 3 years ago.
microdeluxe Hm, just texted a friend who worked at Deloitte, he told me 45k entry salary as ballpark for consulting roles. But if you know first hand that they increased it then I trust you are right.
Honestly guys
Which of them take the most interns or grads?
I’m planning on applying for all of them next year, but even so I heard that Accenture is actually the easiest. Compared to the big 4 and McKinsey.
Hey. Kajol here. I do think you should apply to all to increase chances but ultimately choose a firm that is right for you. Culture of the firm is soo important. Regardless would say Big 4 takes more grads and interns in.
Agree, due to the larger size of their operation, Big 4 will likely take more people! :) Best, Heinrich
Awesome
Hey. Kajol here. Thanks a lot for watching and hope you enjoyed it!
Thanks!! Best, Heinrich
What do all Big4 consultants have in common? They all got rejected by the MBB 😂😂😂
I think MBB pays atleast a fair amount of Salary to its employees, in US mostly 100k+ whats the deal with big 4 tho ? They also work pretty hard and lots of hours but employees dont get paid more than other white collar jobs.
What's the salary comparison after taxes..
Hi Himanshu, will depend on the country / tax system. As at least most Western countries have a progressive tax system, net income differences will be smaller than gross income differences. Best! Heinrich
Can u specify range In Asia Pacific and Europe..
Will not go back to consulting industry, but still watch the video lolz...
Hey Kajol here. Hope you enjoy it!
Thanks for watching indeed! Best, Heinrich
What did i learn here that i can't google?
Hi Sam, sorry to hear if you did not take a lot of value from the video. Still thanks for watching! Best, Heinrich
Sorry you didn't find any value Sam, thanks for watching!
Thanks for your insightful video! I’ve done both my BA and Masters in Architecture and i’ve been really keen about business consulting since graduation. Have been reading up and taking courses online eg coursera.. would my chances of landing a management consulting role be really slim considering i’ve no formal business education? Thanks
Won't know unless you try! Kajol here btw. Your skills are transferrable and they defo will value you in tech consulting for sure!
Management.Consultant Thanks Kajol, will probably give it a shot down the road.. 👌🏼
Hi Antsy, all MBB firms do hire "exots" without formal business background and have recruiting targets for that. Therefore yes, it is possible for you to get in. E.g, one partner in the McK German office is a former professional opera singer with an education in Music. Best, H
Firm Learning wow really encouraging to know that! Thanks Heinrich :)
👏👏👏
Hope you enjoyed it - thanks for watching!
Thanks for watching!!
The two people who given a dislike didn't go to big for or mbb and had to go to IB 🤭🤭🤭
Hahaha Kajol here and it's fine....I hope whoever disliked it took some insight away :)
Thanks for watching Simeon!! :)
@@KajolPhadnis I also hope so, the video was for sure interesting!
@@FirmLearning Always pleasure watching them. If you are open to doing the same, I work as Technology consultant and would love to do the same comparison :)
Toller content wie immer. Aber dein Akzent ist schon sehr deutsch haha
Great Video! I'm currently studying business engineering in germany at a university of applied sciences and recently finished an internship at Deloitte's advisory services. Is it possible to join an MBB firm with a university of applied sciences degree? Roland Berger f.ex. doesnt.
Best Moritz
Hi Moritz, it is not impossible, but to be honest very difficult. If you are still in your Bachelor, the best chance would be to do a high profile Master at a "normal" university (a strong GMAT will help to get in) and then apply. Lots of success to you! Best, Heinrich
@@FirmLearning Thanks for your honest answer! It's very helpful to get these deep insights from an ex employee/engagement manager. Everyone says something different at the university "question". :)
Best, Moritz
Sure thing!! Best, H
i like the expressions on both of them, it's like they are trolling each other.
Naaaa we secretly do love MBB and they love us....I hope 😂
@@KajolPhadnis I too love McKinsey a lot, heavily skeptical of the latter
No trolling meant to happen here ;) Best! H
I'm not sure weather to listen on 1.25x or 1.5x
;) Thanks for watching! Best, Heinrich
Great content. Talking speed was somewhat slow compared to the lady :) keep up the good work
Hope I wasn't too fast for you 😂
Heinrich thank you for your Videos but the way you re talking is freaking me out. It seems like someone is Pointing a gun at you and Forces you to be happy and unsuspicious
Thanks for your feedback, will continue working on my delivery ;) Best, Heinrich
Nothing wrong with his presentation, actually great considering he is speaking a second language on this level
"Get into da chopper" Arnie voice
;) Thank you for watching!! Best, H
Hey for a guy who's primary language isn't English, he's very articulate, just has the heavy accent, obviously. Matter of fact, a little more than half the population of the world is bilingual. Some people like to chalk up their lack of success to lacking the gift of gab, yet Arnold and this guy have achieved massive success, respective to the professions they pursued, so yeah, can't use that as an excuse. This guy is a C-Level Executive in his homeland, just saying. Besides that, this joke is painfully trite and juvenile. Just saying.
Bro learn to speak a little faster seriously....
Will continue working on my delivery thanks! Best, H
Firm Learning Best way to reply to these types of comments.. Thanks for the great content.
Imagine deloitte talking to MBB? LOL. Is this a joke? 😂😂😂
Well if you come to the other side in consulting, I think they're quite similar in their approach and even in the way they make their slides. UK view though :)
Know lots of great people who work at Big 4! Thank you for watching! :) Best, H
@@KajolPhadnis LOL. US deloitte is a joke. Let's not even do this guys. Good video nonetheless. I enjoy them.
why does she sound so aggressive?
Sounds rather passionate than aggressive to me! :) Best, Heinrich