FIRM PRESTIGE RANKING

The MBB may as well be called the RTC: Respected, Trusted, and Coveted. They possess the “It” factor – long histories, legendary achievements, and unrivaled influence that give them a prestige that opens doors (and pocketbooks). They attract the best talent across all fields – and their alumni is found at the top levels of business, government, and academia. At an MBB, consultants work alongside high-level executives on high-profile projects. For clients, the MBB represent know-how and results – the ticket to opening new markets and resolving old questions. For consultants, an MBB gig makes a resume stand out; it is a rubber stamp that candidates possess problem-solving, presentation, and project management skills on their exit ramp to the c-suite.

The MBB brings gravity to any project and credibility to any professional. In other words, it adds a level of prestige that’s as ineffable as it is consequential.

Not surprisingly, MBB firms earned the highest marks for Prestige in the Vault Consulting 50. In this dimension, consultants rated competing firms – excluding their own – on a 10-point scale. Like previous years, McKinsey & Company outscored their peers. In 2023, McKinsey averaged a 9.058, edging out both the Boston Consulting Group (8.948) and Bain & Company (8.903). Despite this, the numbers indicate a narrowing of the gap between the three firms. McKinsey’s score reflects a .042 of a point decline, while BCG and Bain improved by .120 and .148 of a point respectively. In fact, these scores represent all-time highs for both BCG and Bain (which had averaged 8.623 and 8.528 respectively five years ago against McKinsey’s 8.954).

EY PARTHENON AND THE ANALYSIS GROUP ON THE RISE

Still, the MBB maintains a nearly two-point advantage over competing firms in Prestige. Deloitte ranks 4th with a 7.173 score – a .288 of a point improvement since 2018. Compare that to EY Parthenon, whose 5th place 7.013 average is nearly a full two-point improvement over where the firm scored in 2018. EY Parthenon wasn’t alone in making major moves. In the past year alone, L. E. K. Consulting’s score rose by .277 of a point, an improvement outpaced by only The Analysis Group at .350.

Finishing 9th overall in the Vault Consulting 50, The Analysis Group focuses heavily on economic analysis and litigation consulting – even ranking as the 4th-best firm in the former according to rival consultants. A 40-year-old firm headquartered in Boston, The Analysis Group boasts 14 offices. Even more, the firm’s emphasis on economics has made its practice “recession-proof” in the words of one consultant. However, the firm’s increasing Prestige is due to something else entirely: performance.

“We have strong relationships with our clients,” observes one anonymous survey taker. “We take seriously the expectation to deliver high-quality work and expertise that helps our clients solve hard problems and make better strategic decisions. We bring a cross-functional approach to the work and high-caliber expertise to our projects that our clients value.”

It doesn’t hurt that there is never any downturn in the types of business that The Analysis Group handles, either. “Economic consulting thrives in all business environments as firms always have lawsuits that they need support with. AG is viewed (rightly, in my opinion) as a leader in the economic consulting field, so our services are always sought after by clients for reputable cases,” explains another consultant.

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