According to IBISWorld, the consulting industry was worth around $365.8 billion in 2022. From the statistics, you can tell that there are many bank consulting companies and banking employment agencies. Getting one of the best bank consulting companies requires you to assess options.
The banking consulting firms in banking and finance you may know include the first tier made up of McKinsey & Company, Boating Consulting, and Bain & Company. McKinsey was founded in 1926 and is the largest bank consulting company. Boston Consulting Group was founded in 1963 and has the reputation of having the most brainy culture. Bain & Company was founded by a former BCG consulting in 1973. It has set itself apart through its expertise in private equity via Bain Capital. These firms compete with each other and focus on big projects that shape the strategy of a company.
The tier two companies include Booz Allen, Roland Berger, Strategy&, OliverWyman, The Parthenon Group, L.E.K Consulting, and Kearney. They offer great experiences but the projects they tackle are not as high profile. These firms tend to specialize in specific industries. The third tier is made up of Accenture, KPMG, PWC, Deloitte and EY. They focus more on implementation rather than strategy. These companies deal in mid-level management projects. The last tier has small companies.