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The global strategy & management consulting industry is estimated to be worth $155 billion and market size of $250 billion in 2019. Big corporations around the world depend heavily on consulting firms to maintain their competitive edge. The management consulting domain is also among the most sought after sectors to work for MBA graduates in India. In this post, we have listed some of the best management consulting firms to work for.
Management consulting, strategy consulting, or consulting is a very broad term. Consulting can be defined as the business of advising or the act of coming up with solutions to real-world business problems. Management consulting or strategy consulting is all about helping a client obtaining advice that leads to a practical and lasting solution to a real business problem.
Consultancy is a field that is considered to be the highest rating industry along with other professional industries like medicine, engineering, etc. Consultancy services are the most profitable job worldwide. There are more than 100 firms that are directly supporting many IT and Non-IT sectors by fulfilling the need and solving the problems.
A consulting firm is an agency that provides services to other companies by providing professional advice and services which will be a beneficial factor to the organization.
Generally, a consulting firm fulfills the requirements of the organization. It also clears the problems and helps the organization in maintaining a profitable environment. The main objective of a consulting firm is to make a plan and implement the plan into actions by providing the best results in a project or during the crisis.
The popular fields are IT, financial services, human resources, mobile and communications, marketing & PR, healthcare, real estate, e-commerce, and corporate law.
Top Management Consulting Firms in the World
Co-authored by Parinita Gupta
McKinsey & Company
McKinsey & Company is an American based management consultancy firm that was founded in 1926 by James O McKinsey and Marvin Bower. It is one of the top management consulting firms which serves more than 1000 firms of the various sector like, governments, public and private institutions, and nonprofits organization. It has more than 27000 employees all over the world and has a revenue of more than $10 Billion.
The Boston Consulting Group, Inc.
The Boston Consulting Group(BCG) is a management consulting firm that mainly focuses on Strategic and Operations Consulting assignments. It was founded by Bruce Henderson in 1963 and has more than 90 offices all across the world. It has a workforce with more than 16,000 employees and makes average revenue of more than $6.3 million. It was ranked 4th in “100 Best Companies to Work For” in 2018.
Bain & Company
Founded in 1973 and headquartered in Boston, Bain is one of the Big Three management consultancies along with McKinsey and BCG. The company is an incorporated partnership with William W. Bain and Patrick F as its founders.
Bain mainly advises Fortune 500 companies in corporate strategy, mergers and acquisitions, private equity investments, market analysis, and finance. Bain functions from 56 locations and had annual revenue of USD $4.5 billion in 2017.
Related Article: Best MBA Programs for Consulting
Deloitte Consulting LLP is the world’s largest consulting firm and one of the big four companies who do extensive financial consulting all over the world. It is a London based company where its major services include Audit, Tax, Management Consulting, Financial advisory, Risk Advisory, and Legal advice of the business. It has a working staff of more than 286200 with major services locations in China, India, Hong Kong, and many other 100 countries. It has generated gross revenue of US$43.2 Billion in 2018 and stood in first place in accounting firms.
PricewaterhouseCoopers (PwC) Advisory
Price Waterhouse and Cooper’s advisory firm is a London based accounting firm which majorly works for the services like assurance, advisory, tax, and returns, etc. It is an accounting firm which also falls in Big four companies in the world. It is recognized for its excellent services since the 19th century and stood up in the top 50 accounting firms list. It has more than 236,000 and has a gross revenue of $37.7 billion.
Booz Allen Hamilton (aka Booz Allen)
Booz Allen Hamilton was the parent company of Strategy which was separated in 2008 and named as Strategy. Its service includes management consultancy in Energy, healthcare, Financial service, chemical, Media, Automotive FMCG, and many other industries. It also deals with a lot of Government works. It is well known for its research papers, publishers and many more. It has more than 60 offices in 33 countries and has a gross revenue of more than $1.3+ billion.
Ernst & Young Advisory
Ernst & Young (E&Y) is one of the Big Four companies in the world. It is a London based company which was founded in 1989. It has more than 700 offices in 150 countries and has a gross revenue of $31.3 billion. Its major services include financial and accounting advisory services which majorly focus on the company’s performance improvement, Risk management, and transaction advisory. Forbes has listed Ernst & Young amongst the best management consulting firms in the world.
Accenture is a world-renowned consultancy firm which provides professional services like strategy, consulting, digital technology, operations and many more. It was founded in 1989 and was initially named as Andersen Consulting firm. Its headquarters is in Dublin, Ireland and its annual revenue is about $34.85 billion.
The company has a workforce of more than 459,000 employees in 200 cities all across the globe. Its major work culture includes equality in hiring the employees, delivering the requirements to the clients and maintaining the workforce with exceptional working abilities and skills. They are aiming to meet up with the demand in the market by giving the best output.
KPMG is a merger group of Klynveld Goerdeler and Peat Marwick which is one amongst the Big four financial consulting companies in the world. It has a very vast network and is being operated in more than 150 countries with more than 188,982 employees with gross revenue of $26.4 billion. It basically provides services like a financial audit, advisory (management consulting), and tax and accounting management. It was ranked 12th in Fortune’s list of “100 best companies in the world.
A.T. Kearney is a US-based globally recognized company specialized in management consulting focusing on strategy and operational issues in business, government organizations, and institutions worldwide. It was founded in the year 1926 by Andrew Thomas Kearney and has its headquarters located in Franklin Center Chicago, USA.
It has its offices in 60 different locations across 40 countries with a workforce of 3,500 employees out of which 2,300 are consultants. A.T. Kearney has been consistently ranked amongst the Top Management consulting firms of the world.
IBM Global Services
IBM Global Services is the by-product of the globally renowned multinational corporation IBM. IBM Global Services offers professional services in management consulting and outsourcing to its clients worldwide. The company is a division of IBM founded in 1991. The headquarter is located in Armonk, New York, USA. It also deals with providing services in the IT sector and has shown rapid growth and outstanding market performance over the years.
The company is further divided into Global Business services dealing with issues related to business growth, finance, market reach, etc, and Global Technology Services which provides industry experts from the silicon valley catering to the needs of its clients in technical issues.
Gartner Inc is a multinational public company founded in 1979 by Gideon Gartner. It is top research consulting firm extending its services in providing expert advice and tools for leaders in IT, Finance, HR, Customer Service, and Support, Legal and Compliance, Marketing, Sales, and Supply Chain functions across the globe. Its headquarters is located in Connecticut, USA.
Gartner has a large client network including big corporations, government agencies, technology companies, and the investment community. They have a strong client association with more than 12,000 organizations in over 100 countries. Gartner has a number of 15,000 employees working in around 100+ offices across the world. It generated revenue of US $3,3 billion in 2017 showing rapid growth in operative income and total assets.
Mercer LLC founded 1945, is a subsidiary of Marsh and McLennan, a global professional services firm. It is also the world’s largest human resource consulting firm.
Mercer provides good exposure to top experts in the investments industry. It has a sustained focus on innovation. Mercer majorly serves in three areas including Health, Wealth and Career having a client relationship with top companies like Fortune 1000 and FTSE 100. It generated revenue of US $ 4.3 billion.
Capgemini is a French company which is globally recognized for its professional services and consulting. It was founded in the year 1967 by Serge Kampf and its headquarter is located in Paris, France and it is a Societas Europaea I.e European Society. Generally, Capgemini fulfills the IT requirement and provides outsourcing for many companies. It has more than 200,000 employees with annual revenue of $12.79 billion Euros in the financial year. Very recently it has acquired the digital Marketing and has a moto of delivering innovation for the end to end digital transformation. Capgemini is one of Europe’s biggest management consulting company.
Oracle Consulting is a member firm of the multinational Oracle Corporation, one of the biggest hardware and software providers in the world. Oracle consulting provides professional services in the field of IT consulting. It was founded on 16th June 1977 by Larry Ellison, Bob Miner, and Ed Oates. Its headquarters is located in Redwood Shores, California. The company has a big name in the silicon valley with an employee network of 137,000. Oracle was also the third largest software makers by revenue just after Microsoft and Alphabet. Oracle generated revenue of US $39.83 billion as of 2018.
Cisco Systems, Inc. is an American multinational company headquartered at San Jose, California, in Silicon Valley. Cisco Services develops, manufactures and sells networking, hardware, telecommunication equipment, and other high-technology services and products. Cisco services are completely into the techy market which specifically deals with the Internet of Things (IoT), domain security and energy management. It was reported that there are more than 72000 employees with annual revenue of $49.3 billion.
SAP Services is a Germany based multinational software company dealing with IT consulting. SAP stands for Systems, Applications, and Products in data processing. It was founded in the year 1972 and has its headquarters located in Waldorf, Germany. The company has its offices in 180 countries with a network of 94,989 employees working day and night to cater to the needs of its 335,000 customers worldwide. The company is a component of the Euro Stoxx 50 stock market index and generated a revenue of 23.46 Billion Euro.
Infosys Limited formerly known as Infosys Technologies Limited is an Indian multinational company which provides consultancy services for IT sector. Its main headquarters is present in Bangalore and it is considered to be the second largest IT company in India. Infosys generally take up the projects dealing with finance, insurance, manufacturing and other domains where they develop, maintain and validate various software. It has a market capitalization of $44.32 billion share value in the market. Infosys is present in 123 cities with more than 225,501 workforces.
Tata Consultancy Services (TCS)
TCS is one of the oldest consulting firms in the world. It has bagged 50 successful years into its basket and put up a very good profitable ratio as the fastest growing firm in the world. It is an Indian company and is a part of Tata Groups with its headquarters in Mumbai, India. It is being operated in more than 46 countries. Its major services are present in Banking and financial service sector. It also deals with insurance, Manufacturing, Retail, Communications, public, and healthcare and many more. It is the first Indian IT company to have more than $100 billion market capitalization.
Cognizant Technology Solutions (CTS)
Cognizant is a multinational American company where its major services include digital, technology, consulting, and operations services. It is one of the fastest growing company amongst Fortune 500 companies in the world. It is a public sector company where it’s workforce work on critical application development and maintenance services. It was a unit of Dun & Barrett which was founded as in-house technology. It has the presence of more than 281,600 number of employees and has a gross profit revenue of $11.42 billion in the second quarter of 2018.
Canadian Global Information company is commonly known as CGI which does extensive outsourcing for IT. It is basically a Canadian company which is located in Montreal, Quebec Canada. Serge Godin and André Imbeau founded CGI which provides the services for applications, Business consultancy, and system integration service. It has annual revenue of C$10.7 billion with more than 74000 employees as a whole.
HP Enterprise Technology Services
Hewlett Packard Enterprise Company is commonly referred to as HPE. It is basically an American Multinational company founded on November 2005. It mainly focuses on delivering the services for servers, storage, networking, consulting and support, and Financial Services. HPE also maintains and runs Hewlett Packard Labs. It is generating a revenue of about US$30.852 billion with a maximum workforce of 60000 employees.
Few Other Notable Top Management Consulting Firms in the World
- Aon Hewitt
- Oliver Wyman
- Sapient Corporation
- Grant Thorton
- Hitachi Consulting
- BDO Consulting
- FTI Consulting, Inc.
Author Bio: Parinita Gupta is a full-time banking professional. Additionally, she is also a passionate blogger and digital marketer.
She mostly writes about the Banking & Finance, Technology, and FinTech sector. But, she also enjoys writing on other topics as well. You can follow her on Twitter.