McKinsey tops Vault's 2020 'Consulting 50' ranking
McKinsey & Company was ranked the top consulting firm to work for in North America according to Vault.com’s 2020 Top 50 ranking.
The prestigious management consultancy remained the top firm to work for in North America in Vault’s annual ranking, which is based on current employee responses. The ranking is based on a weighted formula, with 30% given to prestige; 15% for firm culture; 15% for satisfaction; 10% for compensation; 10% for work/life balance; 10% for level of challenge; 5% for overall business outlook; and 5% for promotion policies.
Client caliber and work impact were a big reason candidates chose McKinsey over other firms. Employees also ranked McKinsey as the top firm for innovation and employee development.
"Part of McKinsey's mission is to create an unrivaled environment for exceptional talent and we are encouraged our people recognize our firm as an employer of choice by voting us #1," Brian Rolfes, partner and leader of McKinsey's global recruiting, said. "Being at McKinsey is especially exciting now as we are welcoming an increasingly diverse group of people, including those with business backgrounds as well as experts in digital, data, design, and all facets of technology."
The nearly century-old firm has 17,000+ employees across 66 countries, and had over $10 billion in revenues last year. The company works with most of the Fortune 1000, as well as numerous governments and agencies across the globe.
Overall, prestige and probable fee rates seem to correspond tightly with the top of the rankings, where the big names dominate.
Fellow Big Three strategy consultancy Boston Consulting Group (BCG) jumped one spot to #2, while Bain & Company fell one spot to #3.
Deloitte Consulting stayed at #4, while Oliver Wyman stayed pat at #5. Government-focused consultancy Booz Allen Hamilton rose from #21 to reach #6, while EY’s strategy arm EY-Parthenon remained at #7.
PwC Advisory Services remained at #8, A.T. Kearney rose two spots to #9, and healthcare consultancy GE Healthcare Partners rose 5 spots to reach #10.
Accenture fell one spot to #11, while KPMG fell two spots to #14.
Other notable firms in the Top 50 ranking were PwC’s strategy arm Strategy& (#16), L.E.K. Consulting (#18), Alvarez & Marsal (#22), Roland Berger (#24), Simon-Kucher & Partners (#32), ZS (#34), and OC&C Strategy Consultants (#49).
