MBB vs Big Four Consulting: Which Path is Right for You?

The Great Consulting Debate

One of the most common questions aspiring consultants ask is: "Should I aim for MBB or Big Four?" The answer, like most things in consulting, is "it depends."

This guide breaks down the key differences to help you make an informed decision.

What is MBB?

MBB refers to the "Big Three" strategy consulting firms:

• McKinsey & Company
• Boston Consulting Group (BCG)
• Bain & Company

These firms focus primarily on high-level strategic advice for C-suite executives at the world's largest companies.

What is Big Four Consulting?

The Big Four accounting firms all have substantial consulting practices:

• Deloitte Consulting
• PwC (Strategy&)
• EY (Ernst & Young) Parthenon
• KPMG Advisory

These firms offer a broader range of services, from strategy to implementation to technology.

Key Differences

1. Type of Work

MBB projects tend to be shorter, higher-level engagements focused on answering strategic questions: Should we enter this market? How do we respond to disruption? What should our M&A strategy be?

Big Four projects often extend into implementation. You might design a new operating model AND help implement it over many months.

2. Compensation

Let's talk numbers (approximate US figures for 2025):

MBB consistently pays 20-40% more at every level. However, Big Four has made significant strides in closing this gap, especially for top performers.

3. Work-Life Balance

This is where it gets interesting:

MBB: Notoriously demanding. 60-80 hour weeks are common. Travel can be extensive (though COVID changed some of this permanently). The intensity is real, but so is the learning.

Big Four: Generally more manageable, with 50-60 hour weeks being typical. More predictable schedules. Better work-life balance is often cited as a key advantage.

However: Both can vary significantly by office, practice, and project. Some Big Four teams work MBB hours; some MBB teams have great balance.

4. Exit Opportunities

This is often the deciding factor for career-minded candidates:

MBB Exit Opportunities:

• Private Equity (especially Bain → PE)
• Hedge Funds
• Corporate Strategy (VP+ roles)
• Tech companies (FAANG strategy roles)
• Startups (CEO, COO, Chief of Staff)
• Venture Capital

Big Four Exit Opportunities:

• Corporate roles (but often at slightly lower levels)
• Industry-specific positions
• Other consulting firms
• Tech companies
• Finance (but harder to break into PE/HF)

The MBB brand opens more doors, particularly in elite finance roles. However, the Big Four name is still highly respected in most industries.

5. Interview Process

MBB interviews are famously difficult. Case interviews are longer, more complex, and more heavily weighted. Fit interviews go deeper.

Big Four interviews are challenging but more accessible. Cases are often shorter, and behavioral questions play a larger role.

6. Culture

MBB Culture Themes:

• "Up or out" advancement (you either get promoted or leave)
• Extremely meritocratic
• High-performance environment
• Strong alumni networks
• Competitive but collaborative

Big Four Culture Themes:

• More varied career paths
• Less pressure to advance rapidly
• Broader range of personalities
• Strong practice-based communities
• More work-life balance focus

Which Should You Choose?

Choose MBB if:

• You want the most prestigious brand on your resume
• You're aiming for PE, HF, or top corporate strategy roles
• You thrive under pressure and want maximum learning
• You're confident in your case interview abilities
• You want the highest compensation

Choose Big Four if:

• You want more work-life balance
• You're interested in implementation, not just strategy
• You prefer a broader range of project types
• You want a more accessible path into consulting
• You're targeting industry-specific careers

The Hybrid Option: MBB Within Big Four

It's worth noting that several Big Four firms have acquired or built strategy practices that compete directly with MBB:

• Strategy& (PwC) - formerly Booz & Company
• EY-Parthenon - formerly Parthenon Group
• Monitor Deloitte - integrated with Deloitte Consulting

These practices often offer MBB-style work with slightly better lifestyle. They can be a great middle ground.

Final Thoughts

There's no universally "better" choice. Both paths can lead to exceptional careers. The key is understanding what matters most to you—prestige, work-life balance, type of work, exit opportunities—and optimizing for that.

Whatever you choose, thorough preparation is essential. Our CaseMap™ Methodology works for both MBB and Big Four interviews, giving you the structured approach you need to succeed.