Are MBB and other high priced consulting firms worth it?
Are MBB and other high priced consulting firms worth it? December 14, 2024 | Consulting, Cost Cutting, Digital Transformation, Leadership, Organizational Culture, Question a Day, Strategy Question-a-Day Are MBB and Other High-Priced Consulting Firms Worth the Cost? In the world of business consulting, MBB firms —McKinsey & Company, Boston Consulting Group (BCG), and Bain & Company—are the gold standard. They’re known for advising Fortune 500 companies, charging millions in fees, and employing some of the brightest minds in business. But with high costs comes a fair question: Are MBB and other top-tier consulting firms truly worth it? This article will look at what makes MBB consulting firms unique, why companies are willing to pay a premium for their services, and some criticisms that challenge their value. By the end, you’ll have a clearer sense of when—and if—it makes sense to hire these high-priced consultants. What Do MBB Consulting Firms Actually Do? MBB firms p...