The Types of Consulting Firms

Consulting offers a variety of career paths, depending on the type of industries addressed, the functions supported and the issues dealt with.
How do you find your way around? We help you see things more clearly.

Strategy Consulting or Management Consulting?

Understanding the Distinctions

For what we are interested in (so excluding information system consulting), there are two main categories of advice: management consulting on the one hand, and strategy consulting on the other.

• Management consultancy focuses on organizational issues, project management, team leadership and program implementation.
• Strategy advice addresses more global issues, such as business vision, growth, business strategy, market positioning, profitability, and operational performance. Discovering these nuances will help you make informed decisions on your journey in the consulting world.

At StratMachina, we primarily prepare you for interviews with strategy consulting firms, which are known to be more demanding than those of management consulting firms. This also means that preparing with us will make it much easier for you (in terms of problem solving, communication efficiency in motivational interviews) if you also plan to apply to management consulting firms.

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The Choice of the Consulting Firm: Reputable Firms or Specialty Shops?

Choose your path

Before embarking on strategy consulting, it is essential to choose the type of firm that best fits your career aspirations.

Choosing the right firm, taking into account certain size and specialization challenges in mind, is essential for your professional development.

Indeed, the landscape of consulting firms is diverse, even if the market is largely dominated by the 10 largest companies in the sector, holding more than half of the market shares.

If we had to summarize, we find

• The MBB, McKinsey & Company, the Boston Consulting Group (BCG) or Bain & Company, which are iconic names in strategy consulting. All StratMachina coaches currently work or have worked in these 3 firms.
• Other strategy consulting firms, a little less renowned but very similar to how MBBs work: Oliver Wyman, Rolan Berger, Kearney, OC&C, Strategy&, LEK etc.
• The “Big Four”“(Deloitte, EY, KPMG, PwC) are global financial audit and advisory giants, offering a diverse range of services.
• Firms specialized in the fields of IT and digital transformation, such as Accenture, Wavestone, IBM Global Services or Capgemini Invent.
• Finally, there are small-sized “shops” that stand out for their sectoral or functional expertise, such as Vertone or Nova, specializing in events and sports.

Each of these options offers unique opportunities, and it's important to think about which path is best for you before you start.

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Ranking of Strategy Consulting Firms

Identify Key Players

To better understand the landscape of strategy consulting firms, we have proposed a 2023 ranking of strategy consulting firms based on attractiveness among graduates of the largest business and engineering schools in France.

In addition, Consultor also offers a ranking based on the attractiveness of firms in France. This ranking can also give you valuable insight into the key players in the sector.

Now that you have a clearer picture, don't waste time and start preparing for your interviews. You can do it!

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