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There are many consultancies around the world. However, like any other things, not all of them are created equal. Some are particularly more prestigious and more internationally renowned.<\/p>\n
Vault.com, the career website, has put together a list. They released a ranking of the best management consulting firms based on a survey to consultants worldwide. Participants were asked to vote for up to three firms in several areas of business focus. But to establish fairness, they could not vote for their own firm.<\/p>\n
The practice areas involved defense, economic, energy, financial, health care, IT operations, IT strategy, human resources, management, operations, public sector, retail, and strategy consulting.<\/p>\n
Most of the consulting firms in the current list have been included in the previous year\u2019s list, though their rankings have slightly changed. The best management consulting firms of 2013 are:<\/p>\n
The American global management consulting firm stays on top as they got 72.73% of the votes. McKinsey & Company, which established in 1926, operates 104 offices in 60 different countries. McKinsey is considered one of the \u201cBig Three\u201d in management consulting services to the Fortune 500 set. The other two are Bain & Company and The Boston Consulting Group.<\/p>\n
They are known for their investment on knowledge management system to support their field consultants. McKinsey Knowledge Centre (McKC) provides access to specialized expertise and business information. McKinsey specializes in business information, recruitment, and problem solving for senior management issues.<\/p>\n
As of September 2013, this organization receives 225,000 job applications annually. And only about one percent of these are successful. McKinsey is voted No. 1 consulting firm in the world. And for a reason, they probably set the toughest selection criteria. They are known to consistently recruit from elite colleges, professional schools, and graduate schools.<\/p>\n
From being third last year, The Boston Consulting Group (BCG), climb a notch on the list. The global management consulting firm, which was founded in 1963, scored 59.96% in the survey.<\/p>\n
BCG operates 78 offices in 43 different countries. They advise clients in the private, public, and non-profit sectors across the globe. Fortune Magazine ranked them second as well in its 2011 and 2012 lists of the \u201ctop 100 best companies to work for\u201d. However, the 2013 rankings by Fortune put them at the fourth spot.<\/p>\n
BCG has also been consistently listed in Consulting Magazine\u2019s \u201cBest Firms to Work For\u201d list since 2001.
\nLike any top-tier firms, BCG\u2019s recruiting process is known to be notoriously demanding. In fact, career review site Glassdoor ranked them as the 3rd most difficult company to have an interview with.<\/p>\n
Moving down by a notch is Bain & Company. The global management firm headquartered in Boston, received 58.40% total score. Since it was founded in 1973, Bain remains to be one of the world\u2019s leading consulting firms. They now have 50 offices in 32 different countries.<\/p>\n
The firm is known to provide consulting services to many of the world\u2019s biggest businesses and nonprofit organizations.<\/p>\n
In a Financial Times interview, Bain partner Bill Neuenfeldt, disclosed the qualities they are looking for in potential hires, which are \u201cintelligence, integrity, passion and the ambition to make a difference.\u201d<\/p>\n
Also climbing up a notch this year is Deloitte Consulting LLP. Deloitte Consulting, which accumulated 19.20% in the survey, is a globally recognized, professional services organization. It was incorporated in 1996 and operates as a subsidiary of Deloitte Touche Tohmatsu.<\/p>\n
Deloitte consulting specializes in human resources, information technology services, outsourcing, health policy and regulatory reform, and strategy and operations.<\/p>\n
They serve clients across different industries such as aviation, consumer products and services, energy, financial services, health care, technology, and even government agencies.<\/p>\n
Initially called Andersen Consulting, Accenture plc also moves up a notch this year as it scored 14.09%. This multinational management consulting, technology services and outsourcing company, is the world\u2019s largest consulting firm as measured by revenues. They have offices and operations in more than 200 cities in 56 different countries.
\nWhen their consultants are not working with companies to improve their performance, they can write reports to be published by the Accenture Institute for High Performance. Many of their published papers appear in international newspapers, like the Financial Times, Harvard Business Review and The New York Times.<\/p>\n
Plunging from fourth to sixth is Booz & Company. The global management consulting firm, which was founded in 1914, is one of the oldest consultancies in the world. By the end of the 1950s, the firm was dubbed as \u201cthe world\u2019s largest, most prestigious management consulting firm\u201d by the Time Magazine.<\/p>\n
Booz & Company has had notable engagements throughout its years, such as the contract system for Hollywood movies, concepts of supply chain management, product life cycle, and the Organizational DNA concept. The National and American football leagues merger, HP-Compaq merger, as well as the redemption of the Chrysler Corporation from bankruptcy, all involved Booz & Company.<\/p>\n
PricewaterhouseCoopers LLP operates 72 offices across the United States. The company serves 81% of the companies on the Fortune 500. They provide auditing services as well consulting. For the second year in a row, they were recognized by the Association of Management Consulting Firms for \u201cvalue and excellence in consulting.\u201d<\/p>\n
Ernst & Young LLP is the U.S. member firm of Ernst & Young Global. EY doesn\u2019t really have a \u201cconsulting\u201d department. However, they have an \u201cadvisory\u201d unit. EY used this term following the $11 billion sale of its original consulting unit to Capgemini in 2000.<\/p>\n
KPMG LLP advisory services are divided into three distinct groups: management consulting, transactions and restructuring, and risk and compliance. In terms of their management consulting services, they currently have 14 service lines for clients. And some of the recently added ones reflect the changing business priorities in today\u2019s digital age.<\/p>\n
Also included in the top 10 list of 2013\u2019s best management consulting firms is IBM Global Business Services (GBS). The organization has consulting, systems integration and applications businesses groups. They employ more than 100,000 professionals across the Americas, Europe, Middle East, Africa and Asia Pacific.<\/p>\n