The demand for business consultants is on the rise; leading to the establishment of business consultant companies across the globe.
This high demand stems from the strong desire for growth by business owners and CEOs.
As a matter of fact, statistics show that, in the United States alone, business consultants receive over $2 billion for their services.
Though that amount is not a pretty large sum given the kind of services they render. These services range from effective diagnosis and in-depth analysis to permanently improving the business’ effectiveness.
But a problem arises with questions like:
“Which business consultant company should I hire?”
“How do I know this business consultant company is reliable?”
Take a deep breath, because you are about to get answers to these indecisive questions.
This post covers the top 10 business consultant companies to hire if you are ever confused.
Also, I ranked these companies with the following criteria:
- Revenue
- Prestige
- Employee Satisfaction
- Compensation
- Benefits
However, let’s start with the basics…
What Makes Top Business Consultant Companies Rank as One?
Yes, MBB firms have the most prestige, but there may be other firms that are more suited to your unique career path. Do you have a plan for what you want to do a following consultation? Are you going to choose the consulting organization with the most clients? If that’s the case, you might be startled to learn that neither McKinsey, BCG, nor Bain are among the top ten revenue-generating consulting firms.
Some consulting organizations require nearly all of their employees to travel, while others require far less. Some charge by the hour, while others charge by the project—there’s a major cultural difference between being rewarded for completing work swiftly and racking up billable hours. You might wish to join a specific diversity organization or live in a specific city. All of these factors should be taken into account as you narrow down your personal list of target companies.
The Top 10 Business Consultant Companies
The following are some of the best consulting companies you can find out there;
#1. BusinessYield Consult
With so many years of experience, Businessyield Consult provides world-class business consultancy services. Their expert assistance has helped thousands of businesses globally gain a competitive advantage in their market space.
Their focus is on building long-term relationships with clients as well as being responsive and relevant to their needs by continually developing and providing exceptional value. Their services range from consulting to financial advising, risk management, tax, digital, and associated services.
BusinessYield Consult is ranked #1 in terms of employee satisfaction and prestige, making it one of the most valued companies in the world of consultancy.
#2. McKinsey & Company
McKinsey & Company is an American-based business consulting company, founded in 1926 by James O. McKinsey and Marvin Bower. Its headquarters is located in the city of New York, with more than 27,000 employees in its network and over 127 offices across the globe.
McKinsey & Company generated a total of $10 billion in 2017 with annual revenue of $8.8 billion.
So this would be a great place to start when lost in confusion.
#3. The Boston Consulting Group, Inc.
The Boston Consulting Group is a privately owned business consulting company founded by Bruce Henderson in the year 1963. It has over 90 offices across the globe, with more than 16,000 employees worldwide.
BCG generates revenue of $6.3 billion annually and ranked 4th on the Fortune list in 2018.
Also, it ranks #2 in prestige and employee satisfaction.
#4. Bain & Company
Bain & Company ranks #3 worldwide in Business Consultancy. William W. Bain and Patrick F. founded it in the year 1973, with its headquarters located in Boston.
Its growth has been rapid since the ’80s, generating a revenue of $3.7-$4.5 billion in 2017 and an annual revenue of $3.87 billion.
Furthermore, the company is equipped with a workforce of over 8000 employees in over 59 locations around the world.
Read Also: 5 Types of Business Consultants in High Demand
#5. Deloitte Consulting
This business consultant company has always retained its position as the 5th most prestigious consultant company.
Deloitte majors in Audit, Financial Advisory, Legal, Tax, Management Consulting, and Risk Advisory with the largest operational locations.
William Welch Deloitte founded the company in the year 1845.
In addition, the company generates annual revenue of $13.4 billion, making it the leader in market share.
#6. PWC Consulting
Price Waterhouse Coopers is the second-largest business professional services company. It provides services in financial advisory, management consulting, data and analytics, strategy consulting, tax advisory, tax controversy, and legal.
This business consulting company generates revenue of $12.3 billion annually, ranking as the #6 most prestigious consulting company.
Furthermore, PWC has a network of companies in 158 countries with 250,930 employees in 743 locations.
#7. Booz Allen Hamilton
Edwin G. Booz, James L. Allen, and Carl L. Hamilton founded the company in 1914. This company is an American-based company located in Virginia, Greater Washington.
Hamilton specializes in Management and Information Technology Consulting, generating a revenue of $6.1 billion annually.
It also ranks as the #7 most prestigious business consulting company.
#8. Ernest & Young Consulting
EY is a business consulting company that focuses majorly on performance improvement, risk, IT risk, and assurance. It ranks #8 in the world of consulting and generates annual revenue of roughly $11.6 billion.
Ernest & Young was founded in the year 1989. Its headquarters is located in London, the United Kingdom, with a workforce of 260,000 in 150 countries in 700 locations.
Read Also: 5 Top management consulting services in high demand
#9. Accenture
Accenture is a business consulting company that specializes in providing professional services like strategy, technology, and operations. It was founded in 1989 and was formally called Anderson Consulting.
Accenture generates revenue of $17.3 billion annually with a working staff of 459,000 employees in 200 locations around the world.
It ranks as the #9 most prestigious consulting company.
#10. KPMG
Klynveld Peat Marwick Goerdeler was founded in the year 1987. It offers professional services like tax, audit, and advisory. Its headquarters is located in Amstelveen, the Netherlands, with a network of 188,982 staff across the globe.
In addition, KPMG ranks as #10 in terms of prestige, with a whopping revenue generation of roughly $10.2 billion yearly.
Bonus
#11. T. Kearney
A.T. Kearney ranks as the #10 most prestigious business consulting company. Andrew Thomas Kearney founded it in the year 1926, with its headquarters in Franklin Center, Chicago.
It has a workforce of 3500 employees in 60 locations across the globe. This U.S.-based company specializes in strategy and operational issues in businesses with an annual revenue generation of $1.4 billion.
Who Is the Best Business Consultant?
The following are some of the best business consulting companies in 2023;
- Bain & Company.
- The Boston Consulting Group, Inc.
- McKinsey & Company.
- Booz Allen Hamilton.
- The Parthenon Group.
- Oliver Wyman.
- Clearview Healthcare Partners.
- Deloitte Consulting LLP.
What Are the 7 Small Business Consulting Services?
Below are the 7 best small business consulting services according to surveys;
- Sales and marketing consulting.
- Project management consulting.
- Reporting.
- Forecasting.
- IT consulting.
- Accounting consulting.
- Strategic planning.
What Type of Business Is a Consultant?
A consultant is “involved in the business of giving expert advice to those working in a given sector,” according to the Oxford dictionary. In other words, consulting is the business of giving specific groups of people expert advice.
What Services Do Business Consultants Offer?
Business consultant services cover a broad range of specialties including;
- Providing knowledge about a particular market.
- Identifying issues
- Adding to the existing workforce.
- Taking the initiative to make a change.
- Bringing objectivity to the table.
- Training and Teaching Employees
- Carrying out the “dirty work,” such as laying off employees.
- Bringing a company back to life.
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