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Traditionally, the MBB sat atop of the Vault Consulting 50 Ranking – the gold standard for measuring which consulting firms possess the best industry reputations and provide the best experiences to employees. In 2024, the M is missing from the MBB in the Vault Consulting 50 Ranking. Yes, Bain & Company has ranked #1 for the 4th consecutive year in 2024.
Fact is, the 2024 Consulting Salaries Report, released Tuesday by Management Consulted, doesn’t mince words. 2023 was a disappointing year for consulting pay and benefits, with the report riddled with terms like decline, fewer, and less. Alas, consultants endured the brunt of industry fluctuations – pay-wise, at least.
High-paid start date delays for new MBA hires suggests that consulting giants including McKinsey and Bain have broader concerns about the economic future.
The trio have delivered one of the biggest salary increases for new MBA hires in more than two decades.
The consulting field is very competitive, especially at firms like McKinsey and BCG. Recruiters share advice on how to stand out and get the job.