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Top 50 Consulting Firms to Work for in 2023

Top 50 Consulting Firms to Work for in 2023
A 6 min read

Consulting is one of the most highly sought-after post-MBA careers. Consistently outpacing finance and other evergreen industries at Columbia, Chicago Booth, and MIT Sloan. Moreover, consulting firms continue to hire over 30% of MBA graduates consistently at several M7 and other top business schools.

The big four consulting firms that account for nearly 40% of the industry are PwC, Deloitte, EY, and KPMG. These are followed by McKinsey & Company and the BCG – US strategy giants.

There are several reasons for an MBA graduate’s fascination with consulting careers. Be it the breakneck pace of learning on the job or being surrounded by extremely intelligent and accomplished peers, or the high salaries and bonuses a management consulting career offers. The allure of consulting still pervades throughout and across the business school and MBA world.

But how do employees of these top consulting firms rank their firms? That’s exactly the question which Vault’s annual ranking of the best consulting firms to work for aims to answer.

How to get into the top consulting firm?

Want to pursue your career in Consulting? MBA graduates from top business schools get hired by some of these top 50 consulting firms and to get admissions into B-schools like Harvard, Stanford, and Kellogg, you require a good GMAT score. Start your GMAT Preparation by Signing up for our Free Trial and getting access to FREE online GMAT preparation resources. We are the most reviewed GMAT preparation company on GMATClub with more than 2500 reviews.

In this article, we take a deep dive into the rankings and present the Top consulting firms in 2023. Before that take a look at what Consulting firms look for in a candidate:

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List of top 50 Consulting Firms in 2023

Here are the top 50 consulting firms to work for in 2023:

  1. Bain & Company
  2. The Boston Consulting Group, Inc.
  3. McKinsey & Company
  4. The Parthenon Group
  5. The Bridgespan Group
  6. ghSMART & Co.
  7. A.T. Kearney
  8. L.E.K. Consulting
  9. Analysis Group
  10. Alvarez & Marsal
  11. Putnam Associates
  12. “PricewaterhouseCoopers Advisory Services LLC (PwC Advisory Services)”
  13. Roland Berger
  14. Deloitte Consulting LLP
  15. The Cambridge Group
  16. Cornerstone Research
  17. Keystone Group
  18. Publicis Sapient
  19. Simon-Kucher & Partners
  20. Kaiser Associates
  21. Back Bay Life Science Advisors
  22. Clearview Healthcare Partners
  23. Arthur D. Little
  24. The Brattle Group
  25. OC&C Strategy Consultants
  26. The Chartis Group
  27. Kenway Consulting
  28. Eagle Hill Consulting LLC
  29. Altman Solon
  30. Charles River Associates
  31. Bates White Economic Consulting
  32. Keystone Strategy
  33. Blue Matter Consulting
  34. DeciBio Consulting
  35. Health Advances, LLC
  36. ScottMadden, Inc.
  37. NERA Economic Consulting
  38. DayBlink Consulting
  39. The Poirier Group
  40. LeapPoint
  41. Epsilon Economics and Epsilon Life Sciences
  42. TriVista
  43. Insight Sourcing Group
  44. Insigniam
  45. Forrester
  46. Kx Advisors
  47. BPM Advisory
  48. Censeo Consulting Group
  49. Ignyte Group
  50. Stax
Rank 2023Top 50 Consulting firms2022 RankChange in rankScore
1Bain & Company109.383
2The Boston Consulting Group, Inc.3-19.242
3McKinsey & Company219.085
4The Parthenon Group5-18.277
5The Bridgespan Group417.997
6ghSMART & Co.15-97.959
7Kearney8-17.797
8L.E.K. Consulting9-17.772
9Analysis Group21-127.73
10Alvarez & Marsal13-37.721
11Putnam Associates1017.718
12“PricewaterhouseCoopers Advisory Services LLC (PwC Advisory Services)”0127.691
13Roland Berger14-17.678
14Deloitte Consulting LLP1137.671
15The Cambridge Group1237.661
16Cornerstone Research18-27.569
17Keystone Group1617.542
18Publicis Sapient43-257.508
19Simon-Kucher & Partners26-77.484
20Kaiser Associates27-77.436
21Back Bay Life Science Advisors24-37.36
22Clearview Healthcare Partners1757.352
23Arthur D. Little1947.325
24The Brattle Group37-137.295
25OC&C Strategy Consultants2327.281
26The Chartis Group35-97.28
27Kenway Consulting40-137.262
28Eagle Hill Consulting LLC2447.217
29Altman Solon0297.213
30Charles River Associates2287.212
31Bates White Economic Consulting34-37.205
32Keystone Strategy0327.203
33Blue Matter Consulting45-127.189
34DeciBio Consulting3047.184
35Health Advances, LLC2877.179
36ScottMadden, Inc.3247.158
37NERA Economic Consulting3167.139
38DayBlink Consulting49-117.089
39The Poirier Group48-96.994
40LeapPoint44-46.986
41Epsilon Economics and Epsilon Life Sciences0416.983
42TriVista0426.975
43Insight Sourcing Group4216.96
44Insigniam0446.901
45Forrester0456.899
46Kx Advisors3886.873
47BPM Advisory0476.845
48Censeo Consulting Group4176.834
49Ignyte Group33166.816
50Stax0506.773

Want to pursue your career in Consulting? MBA graduates from top business schools get hired by some of these top 50 consulting firms and to get admissions into B-schools like Harvard, Stanford, and Kellogg, you require a good GMAT score. Start your GMAT Preparation by Signing up for our Free Trial and getting access to FREE online GMAT preparation resources. We are the most reviewed GMAT preparation company on GMATClub with more than 2500 reviews.

Bain, McKinsey, and BCG the holy trinity of management consulting firms retained the top 3 spots in the 2023 ranking of Best consulting firms to work for in 2023.

Top Consulting Firms Rank #1- Bain & Company

Bain & Company jumps from #3 to #1 ranking in 2022. For Bain & Company, last year’s rankings data includes many promising steps forward. It ranked first among the MBB in 6 categories and displaced McKinsey in 3 of those categories, i.e., Firm Leadership, Formal Training, and Travel Requirements. The result?

Bain & Company ranks at #1 for the 2021 ranking. Out of 21 categories, Bain has gained ranking in 10 categories:

Quality of Work / LifeBain & Company (Ranking 2020)Bain & Company (Ranking 2021)
Level of Challenge43
Compensation43
Exit Opportunities42
Innovation119
Interaction with Clients63
Promotion Policy42
Relationships with Supervisors31
Satisfaction52
Selectivity41
Traveling requirement2015

Top Consulting Firms Rank #2 – BCG

BCG maintains its rank as compared to 2020. Out of the 21 categories, four categories it ranks above McKinsey and Bain:

  • Benefits
  • Compensation
  • Innovation
  • Overall Business outlook

Top Consulting Firms Rank #3 – McKinsey

Quality of Work / LifeMcKinsey
& Company (Current Ranking)
McKinsey
& Company (Previous year’s Ranking)
Level of Challenge24
Compensation38
Diversity12
Firm Culture512
Firm Leadership36
Hours in office1423
Interaction with Clients35
Internal Mobility23
Overall Business Outlook35
Promotion Policy34
Relationships with Supervisors15
Satisfaction27
Work-Life Balance1221

Watch this video to know the hiring plans of the Big three Consulting firms:

Comparison between McKinsey, Bain, and BCG

The following table contains detailed quality of work/life rankings on 21 different parameters for the MBB firms i.e. McKinsey, Bain, and BCG:

Quality of Work / LifeBain & Company
(Vault score)
2023
Ranking
The Boston Consulting
Group, Inc. (Vault score)
2023
Ranking
McKinsey
& Company (Vault score)
2023
Ranking
Level of Challenge9.439.359.44
Benefits9.639.819.72
Compensation9.439.418.98
Diversity979.259.42
Exit Opportunities9.829.839.81
Firm Culture9.829.539.312
Firm Leadership9.729.739.56
Formal Training9.739.559.54
Hours in office8.1187.9NR823
Informal Training9.819.559.63
Innovation9.1599.539.52
Interaction with Clients9.739.669.65
Internal Mobility8.848.768.93
International Opportunities9.169.339.51
Overall Business Outlook9.649.829.65
Promotion Policy9.629.539.34
Relationships with Supervisors9.719.639.55
Satisfaction9.429.159.17
Selectivity9.919.829.84
Travel Requirements9.3159.219NRNR
Work-Life Balance8.9148.7168.521
NR – Not ranked

Consulting Firms – Ranking based on Services 2023

Now that you are aware of the top 50 Consulting firms let’s look into the various services offered by Consulting firms and their ranking. In this article, we rank consulting firms based on the following services:

  • Best Boutique Consulting Firms
  • Top Management and Strategy Consulting Firms
  • Best Healthcare Consulting Firms
  • Most Prestigious Consulting Firms

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Best Boutique Consulting Firms

Boutique consulting firms are those that offer a limited number of services to a relatively local client base. These firms are very focused on their consulting services and often serve a limited set of industries. However, there are a few advantages boutique consulting firms offer over larger global firms:

  • Less travel
  • More unique learning opportunities
  • Exposure to high-level consultants

Following are the 2023 rankings of the Top 10 Boutique Consulting Firms:

Companies Name 2023 Rank (2022 Rank)2023 Score (2022 Score)
ghSMART & Co.1 (2)9.522 (9.328)
ClearView Healthcare Partners2 (1)9.439 (9.336)
Putnam Associates3 (4)9.293 (9.305)
The Keystone Group4 (5)9.185 (9.136)
Blue Matter Consulting5 (7)9.155 (9.007)
Kx Advisor6 (NR)9.077 (NR)
Potomac Point Group7 (NR)9.049 (NR)
Eagle Hill Consulting8 (12)8.974 (NA)
The Bridgespan Group9 (13)8.960 (NA)
Health Advances, LLC10 (9)8.945 (8.927)

Top Management and Strategy Consulting Firms

The top 10 Management consulting firms remain intact, with few changes in the ranking. Only three firms saw a shift in Rank:

  • Accenture
  • EY LLP (Ernst & Young)
  • PwC Advisory/Strategy&

Here are the top 10 management consulting firms to work for in 2022:

2021 Rank (2020 rank)Firm Name% of Votes
1 (1)McKinsey & Company68.05%
2 (2)The Boston Consulting Group, Inc.60.67%
3 (3)Bain & Company55.40%
4 (4)Deloitte Consulting LLP29.22%
5 (6)Accenture16.37%
6 (7)EY LLP (Ernst & Young)12.11%
7 (5)PwC Advisory/Strategy&10.33%
8 (8)Booz Allen Hamilton6.03%
9 (9)KPMG4.86%
10 (10)Oliver Wyman4.55%

Here are the top 10 Strategy consulting firms to work for in 2023:

2021 Rank (2020 Rank)Firm Name% of Votes
1 (1)McKinsey & Company77.34%
2 (2)The Boston Consulting Group, Inc.71.39%
3 (3)Bain & Company64.44%
4 (4)Deloitte Consulting LLP17.13%
5 (5)Accenture10.43%
6 (6)PwC Advisory/Strategy&8.04%
7 (8)EY LLP (Ernst & Young)6.18%
8 (7)Oliver Wyman5.16%
9 (NR)L.E.K Consulting3.04%
10 (10)IBM Global Services2.97%

Want to pursue your career in Consulting? MBA graduates from top business schools get hired by some of these top 50 consulting firms and to get admissions into B-schools like Harvard, Stanford, and Kellogg, you require a good GMAT score. Start your GMAT Preparation by Signing up for our Free Trial and getting access to FREE online GMAT preparation resources. We are the most reviewed GMAT preparation company on GMATClub with more than 2500+ reviews.

The MBB (i.e., McKinsey, Bain, and BCG) continue to dominate both strategy and management consulting rankings in 2023. They are separated by almost a 50-60 point margin from the rest of the field in strategy consulting.

Best Healthcare Consulting Firms

Two new firms are added to the top 10 healthcare consulting firm list in 2023 – Accenture and IQVIA. PwC (Rank #12) and Huron Consulting Group (Rank #11) are removed from the top 10. Moreover, while McKinsey and BCG retained its top spot, Bain lost its Rank by 1 point (from 4th to 5th Rank).

 Here are the top 10 healthcare consulting firms in 2023:

2021 Rank (2020 Rank)Firm Name% of Votes
1 (1)McKinsey & Company33.49%
2 (2)The Boston Consulting Group, Inc.27.43%
3 (3)Deloitte Consulting LLP19.33%
4 (5)GE Healthcare19.10%
5 (4)Bain & Company16.30%
6 (11)Accenture12.95%
7 (6)ZS12.34%
8 (8)Clearview Healthcare Partners12.20%
9 (10)L.E.K. Consulting10.81%
10 (12)IQVIA (IMS Consulting group)10.62%

Most Prestigious Consulting Firms Rankings

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FAQs – Consulting Firms

What are the “Big Four” management consulting firms?

The four largest management consulting firms in the world are PwC, KPMG, Deloitte, and EY.

What are the Big three management consultancies?

The big three of MBB refer to the largest strategy consulting firms by revenue – McKinsey, The Boston Consulting Group, and Bain & Company.

Is McKinsey better than Bain?

In terms of work/life balance, Bain and BCG are better than McKinsey. Besides, according to the Vault Annual Ranking McKinsey has dropped from #1 position to #3 in the 2021 Ranking.

Do Consulting companies hire MBA graduates?

Yes. Consulting firms continue to hire over 30% of MBA graduates consistently at several M7 and other top business schools.
Learn more about M7 business schools.

How to get into the top consulting firms?

Want to pursue your career in Consulting? MBA graduates from top business schools get hired by some of these top 50 consulting firms and to get admissions into B-schools like Harvard, Stanford, and Kellogg, you require a good GMAT score. Start your GMAT Preparation by Signing up for our Free Trial and getting access to FREE online GMAT preparation resources. We are the most reviewed GMAT preparation company on GMATClub with more than 2500 reviews.

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