Vault.com conducted a survey that ranked consulting firms in terms of their performance in a particular area of business. The respondents, consultants employed by reputable firms, were asked to vote for the top three firms in each area of focus, with the exception of their own.
Below are the survey results for the top 10 strategy consulting firms in 2013:
#1: McKinsey & Company
McKinsey & Company has earned its prestige from the technical expertise, industry knowledge, and diverse professional backgrounds of its consultants. Founded by James O. McKinsey in 1926, the company has become a trusted advisor, not only to two-thirds of the Fortune 1000 companies, but also to large companies around the world. It currently has approximately 17,000 employees; 9,000 of those are consultants who are deployed in 102 offices across the globe.
#2: Bain & Company
For forty years, Bain & Company has remained one of the world’s prominent management consulting firms. It offers nine categories of consulting services, including private equity, information technology, and performance improvement across all industries. Bain believes that the outstanding market performance of their clients can be attributed to the values, passion, and qualities of its personnel. Presently, nearly 5,500 employees are employed by Bain in 31 countries.
#3: The Boston Consulting Group, Inc.
Founded by Bruce D. Henderson in 1963, the Boston Consulting Group is another international management consulting firm with expertise that spans a range of industries. BCG’s consultants are capable of handling projects in 18 areas including post-merger integration, corporate finance, and transformation. They aim to implement positive change by formulating pragmatic and unique solutions for their clients. Currently, BCG has roughly 5,600 consultants in 72 offices spread across 42 counties.
#4: Booz & Company
Management consultants at Booz & Company have advised businesses and organizations how to resolve issues and challenges for almost a century. Founded by Edwin Booz in 1914, the firm is famous for developing the concepts of supply chain management and product life cycle, among others. Its 3,000 employees, located in 33 countries, provide top-tier consulting services to health, aerospace, automotive, and other industries.
#5: Monitor Group
Six entrepreneurs founded The Monitor Group in 1983. One of them was Michael Porter, a Harvard Business School professor well-known for his Five Forces Analysis framework. Unfortunately, in 2008, the recession hit the company hard and it took years for them to recover. In November 2012, many were surprised when the firm declared bankruptcy as it had maintained a solid image throughout the economic crisis. In January 2013, Deloitte officially bought out Monitor Group.
#6: Deloitte Consulting LLP
Consulting is just one of the services offered by Deloitte Touche Tohmatsu Limited, a large company that employs 193,000 individuals in more than 150 countries. The consulting division, headquartered in New York City, assists clients in the areas of human capital, strategy, and operations and technology. They also offer cloud computing, finance transformation, and other featured services that help companies tackle a myriad of challenges.
With approximately 259,000 employees in more than 100 countries, Accenture has earned the respect and trust of global clients in the information technology and management consulting industries. Its services include, but are not limited to, talent and organization, business process management, and global delivery. Accenture protects its brand by building stronger companies for future generations.
#8: The Parthenon Group and Oliver Wyman
Both The Parthenon Group and Oliver Wyman were ranked 8th in the survey. The former specializes in strategy, business investing, startups, and mergers. Founded in 1991, The Parthenon Group’s offices are located in the USA, the UK, India, and China. On the other hand, Oliver Wyman is a division of Marsh & McLennan and is considered an established leader in providing financial services. It currently has 3,000 employees spread across the Americas, Asia Pacific, and Europe. Both consulting firms take pride in their quality partnerships with clients and industry knowledge.
#9: L.E.K. Consulting
L.E.K. consulting services officially began in 1983 through the efforts of three former Bain & Company consultants, James Lawrence, Richard Koch, and Iain Evans. At present, its more than 900 consultants are experts in strategy, shareholder value management, marketing, sales, operations and mergers, and acquisitions. With its headquarters located in London, its work environment reflects collaboration, diligence, intelligence, and initiative.
#10: A.T. Kearney
A.T. Kearney’s history dates back to 1929 when Andrew Thomas Kearney became the first partner of James McKinsey. When the partners split more than a decade later, Kearney continued to practice consulting in Chicago under the name “McKinsey and Kearney”; in 1947, the company was renamed A.T. Kearney. To date, it has 57 offices in 39 countries and employs nearly 3,000 individuals.