MBB
Definition
McKinsey, Bain, and BCG — the three most prestigious management consulting firms, known for strategy work, elite recruiting, and strong exit opportunities.
Learn more →Browse the topic
Let's Talk Consulting
Management consulting is the other common path out of a top school, and the alternative bankers weigh most often. These guides explain how to break into MBB and boutique firms, what casework and client travel look like week to week, and how consulting compares to investment banking on pay, hours, lifestyle, and exits.
Fast facts
Consulting at a glance
MBBThe top firmsMcKinsey, Bain, and BCG — the most prestigious strategy shops.
CaseThe interviewLive business problems structured out loud to a recommendation.
MECEThe structuring ruleMutually exclusive, collectively exhaustive — no overlaps, no gaps.
Up or outThe career modelAdvance on a timeline or move on to an exit opportunity.
Travel-heavyThe lifestyleConsultants staff engagement to engagement, often on the road.
Corp strategyTop exitsPlus startups, PE operations teams, and general management.
Key Terms
OtherCompensationConsulting
Investment Banking vs. Management Consulting: Which Career Pays More?
Investment banking and management consulting are two of the most popular career paths for people interested in business and finance. Both offer strong salaries, good career opportunities, and the chance to work with large companies.
Written by Ben Chon
Frequently Asked Questions
Consulting typically offers better hours and more travel; banking offers higher pay early and more technical finance work. Both are prestigious launchpads, and each opens different exit doors — corporate strategy and operating roles for consulting, the buy-side for banking.
Practice structuring problems out loud, get comfortable with quick mental math, and do dozens of live cases with partners. The goal is clear, logical thinking and a confident recommendation — not memorizing frameworks.
Common exits include corporate strategy, operating roles at startups and tech companies, private equity operations teams, and general management. The problem-solving brand travels well across industries.
Explore more topics
Day in the LifeWhat the analyst job looks like day to day — the deal work, the hours, and the culture.5 articles →Recruiting / Breaking InHow investment banking recruiting works — networking, technicals, behaviorals, superdays, and the timelines.3 articles →Investment BankingBreaking in, the analyst life, deals, hours, exits, and bank rankings.14 articles →Exit OpportunitiesWhere investment banking leads next — private equity, hedge funds, growth equity, and corporate roles — and how analysts make the jump.1 article →CompensationCompensation in finance from analyst to partner — investment banking, private equity, hedge funds, and consulting — broken into base, bonus, and carry.1 article →OtherConsulting, compensation, mindset, and career strategy.2 articles →
