Last updated on October 23rd, 2024 at 02:53 pm
So when I was in my Early 20’s just started off working, I got bit by the consulting bug. And was obsessed about getting into the top consulting firms in India. I read every book, I researched every case study for interviews and looked at the best platform to enter them.
If you are in a similar situation, then you have reached the right page. I would highly recommend you to read this article completely, to make the best when the opportunity comes knocking your way.
Top 10 Consulting Firms in India- Complete List
So first let me begin with showcaseing you the top consulting firms in India. I have categorised these consulting firms on the basis of their reputation.
The Big 3 Consulting Companies in India & The World
So, to begin with let me begin with the cream companies which are synonymus with the word ” Consulting”
- McKinsey & Company
This name I hope doesn’t require much introduction, because as they popularly say ” The Mckinsey Way”. That was also the first book that I read on consulting. The name and reputation also means that very few are destined to work for them. And belevie it or not James O. Mckinsey, was the first person to invent this term “Consutling”.
- Boston Consulting Group BCG
The second crown to wear for the consulting aspirers is Boston consulting Group, also known as BCG. This group was founded by Bruce henderson in 1963 and its a mammoth consuting firm with annual revenue of $12.3 B. It boasts presence in 100+ Cities across 50 countries.
- Bain & Company
Now enter the third crown in the list of the best consulting firms in India and the world. And ironically started by the vice president of Boston Consulting Group, Bill Bain in the 1970.
Top 7 General Management Consulting Firms in India
Now I am going to get enumerate some of the best consulting companies in India, in the area of pure play strategic consulting. Pure play strategic consulting means, consuting which is broader than just marketing, operations, HR.
Advancy
Populary known as the special forces of strategic consutling. Has its presence in India, with its office in New delhi. The industry focus of their consulting services are in Consumer Goods & Ingredients,Life Sciences, Specialty Materials & Chemicals
Deloitte Consulting
Along with the company being as the Big 4 accounting firms, Deloitte is also one of the top management consultancy firms in india.Another important information is that 40% of Deloittes revenues are from consulting. They specialise in consulting in startegy, analytics, M&A, Marekting , Operations, HR a& Technology.
In India specifically, Deloitte started its operations in 1990’s. Although foregin firms were not allowed to carry audits in India, so they audit under the partnership with CC Choksi and Co. Also remember that 1990’s was the same time where India went through liberalisation of Public sectors in India.
PricewaterhouseCoopers
Based out if London, united kingdom is one of the big consulting companies ion India. As on 2018, PWC had a revenue of $41.3 B with around 2.5 Lac employees world wide, presence accross 743 locations.
EY Parthenon
EY also one of the big 4 accounting audit firms in the world, merged with The Parthenon Group which was founded in the year 1991. The four major areas of their advisory services & Financial services are into investment strategy, Corporate strategy and value optimisation.
Gartner
The company is one of the world’s largest and big consulting comapanies in India. The main area of their expertise include professional services including; Marketing, sales and supply chain functions.
Capgemini
One of the top management consulting companies in India founded by Serge Kampf in 1967. Capegemini is on of the business consulting firms in India which primariy focusses on IT Consulting. They have their presence is more than 40 countries including India.
Thornton
Its popularly known for being the sixth largest accounting firms in the U.S It is also a very old company founded in 1924 in Illinois Chicago, U.SA. From there this firm has grown into 58 office locations, including in India.
Top 10 consulting companies in india Salary Distribution
I analysed four websites ambition box, glassdoor, pay scale to get you an estimated distribution of salaries in Top management consulting firms in India.
Salary As Per Years of Experience in Consulting
Salary Distribution Across Big Consulting Companies in India
It is also interesting to know the how the salaries vary accriss the big consulting firms in India specifically for 2024. What you should notice, is that the big names in thw world like mckinsey, BCG have very limited higher position in India.
Expert Tips on Cracking into Strategic Consulting Firms in India
Below I am sharing one of my one on one discussion with an Ex Mckinsey Consultant and His Journy on getting to Consulting.
Question :How did you get the motivation to prepare for getting into big firms like Mckinsey?
Answer: I knew that I would have to scale mountains and fight tooth and nail for a career in firms like BCG, Bain, or McKinsey. Let me tell you my story — the challenges I overcame, the path I carved out for myself, and the strategies that helped me succeed.
Can you take me through the slection process?
Before anything else, I took some time to familiarize myself with how candidates were selected. Every year, consulting establishments receive hundreds of thousands of applications. For example McKinsey alone gets about 200k but only 1-2% are accepted. This is even more competitive than getting into the most prestigious business schools where acceptance rates hover around 10-12%.
The recruiting process often has three main phases:
- Application & Screening: The first step requires sending in an application package which includes a well-tailored resume as well as cover letter. They look for strong academic performance records coupled with leadership skills shown through extracurricular activities among other things such relevant work experiences.
What are different kinds of Online Assessments at various top consulting companies?
- • McKinsey: problem solving test (mc pst) analytic thinking ability evaluation
- • BCG: quick math potential test innovative thinking ability evaluation
- • Bain: online test working under pressure confidence in findings
- Interviews: Interviews involve two types – PEI and Case:
- • Personal Experience Interview (PEI): focuses on personal experiences and leadership skills demonstrated
- • Case interviews involve solving real business problems using structured thinking frameworks such as MECE or Porter’s Five Forces model; interviewer-led at McKinsey while candidate-led at BCG; comprehensive case analysis at Bain.
What are your trips in Preparing for Case Interviews?
Without doubt, the toughest part of this whole journey was preparing for case interviews! These are hypothetical business situation questions designed to test one’s problem-solving abilities as well as communication skills. Here’s how I approached them:
- Consistent Practice: Practice makes perfect. I regularly practiced using case books from various business schools and other consulting preparation resources that enabled me get used to the types of problems I would face.
- Structuring Responses: During my practice sessions, what I did was work on developing an approach for solving cases in a structured manner e.g., when asked how could a neighborhood store increase its sales?, then I grouped my responses into marketing, product expansion, and logistics which made them more coherent and logical.
- Reading Real Cases: Reading real-life business situations encountered by consultants found on websites of different firms provided me with insights about industry trends as well as types of problems typically solved by consultants; this helped not only during interviews but also built up my knowledge base about industries.
What are things to remember regarding updating the resume?
The resume is key! Here’s how mine looked:
- Quantify Achievements: To make sure that people understand what exactly you achieved within an organization or group, always use numbers where possible e.g., instead of saying “led a team” say “led 10 person team to increase revenue by 15% in six months.”
- EPIC Bullet Points: For each experience listed on resumes bullet points should follow EPIC format where E stands for evidence-based, P – precise (use action verbs), I – impactful (show results), C – concise (short).
How much does Networking help to land into a consulting job?
Networking is everything during this process:
- Go To Networking Events: Went to events organized by my business school’s consulting club so as meet current consultants working at these firms while learning more about their cultures may be useful too try going some industry conferences too!
- LinkedIn + Info Interviews: Connected with alumni as well professionals through LinkedIn; informational interviewing can be helpful for gaining deeper understanding about consulting world and preparing oneself better answer questions related to that field.
How is the actual interview day?
During the interview:
• Stay self-assured: Even in front of difficult questions, confidence is key. Keeping calm and composed is essential.
• Take assistance if necessary: If you’re stuck, don’t be afraid to ask the interviewer for explanation. They like it when candidates try to grasp the problem well before starting to solve it.
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It’s true that getting into top consulting companies is not easy but if you are prepared well enough and have the right attitude, it is possible. Good luck!
