What is MBB and why is it so hard to get in

MBB is the acronym that groups the three best strategy and business consulting firms in the world: McKinsey & Company, Boston Consulting Group (BCG), and Bain & Company. These are companies that help other companies solve their main business challenges — from designing the growth strategy of a multinational to restructuring a supply chain losing millions annually. If you had to explain it simply: they're like doctors for companies. Some are cardiologists operating on the heart of the business, and others are dietitians helping you improve day to day. The acceptance rate at MBB is around 1%, compared to the 3-4% of Harvard. Getting in is extraordinarily difficult, but not impossible — and understanding what they are, why they matter, and how to start preparing is the first step of your journey.

Why McKinsey, BCG and Bain form a separate category in strategy consulting

What sets MBB apart from the rest isn't one single thing — it's the combination of many. Exceptional talent, accumulated knowledge from decades of projects, a brand that opens any door, the price they can charge for their services, the quality of work they deliver, and levels of access to executive committees and boards of the world's largest companies. They're among the few consulting firms that by default sponsor your MBA — which says a lot about the investment they make in developing their people.

There are other excellent consulting firms — Strategy&, Oliver Wyman, Kearney, LEK, Roland Berger — but MBB occupies its own space for a reason: when a CEO has to make the most important decision of his career, many times he calls an MBB. That position isn't gained with marketing — it's earned project by project, over decades, by attracting the best talent and delivering results in the most complex situations.

McKinsey is the largest, with over 30,000 consultants in more than 65 countries. BCG is the second, known for its strategic innovation and focus on original thinking. Bain is the smallest of the three, but consistently ranked as one of the world's best companies to work for, famous for its internal team culture.

What it's really like to be an MBB consultant day to day

There's a marketing version of what it's like to be an MBB consultant — "every day is different," "you solve complex problems," "you travel the world" — and then there's reality. Both are true, but reality has nuances worth knowing before you decide if this path is for you.

In your first year, you're normally assigned to a project with a team: a Manager who leads the project, other analysts and consultants. Generally, you work with a senior consultant or have your own workstream — a part of the project that's your direct responsibility. That involves defining the problem-solving for your area, making a work plan, getting the necessary data, conducting the analyses, evaluating the results, thinking about the implications, and preparing all the communication both for the consulting firm's leadership and for the client.

The hours are long. There's no way to downplay this: a junior MBB consultant works a lot. There are intense weeks of 60-70 hours and quieter weeks of 45-50. It depends on the project, the client, and the stage of the project cycle. What makes it sustainable — for those who really fit — is that the work is intellectually stimulating, the team is exceptional, and the learning curve is steeper than in almost any other job.

What makes working at MBB special and you don't find anywhere else is the level and quality of the people. In over 8 years at Bain, I went through CPG, retail, industrial practices, performance improvement and M&A, working with over 30 clients in Europe, LATAM, and the United States. That diversity of contexts — one month you're optimizing a consumer company's supply chain, the next you're analyzing an acquisition for a private equity fund — and access to people with very high experience and expertise is something that simply doesn't exist in other environments. It forces you to grow fast and prepares you for practically anything you want to do afterward.

A moment that illustrates well what makes MBB unique: during a complex project with an industrial client, we needed very specific sector expertise that no one on the team had. Within 48 hours we had a global expert from the firm on a call with the team, sharing knowledge from similar projects on three continents. That level of access to knowledge and cross-functional talent is what separates MBB from the rest.

Myths about MBB you need to leave behind

There are three myths constantly heard among Spanish-speaking candidates that are completely false:

"You need a Harvard or INSEAD MBA to get into MBB." No. There are MBB consultants from hundreds of different universities and programs. Target universities make access easier because the firms have active recruiting programs in them, but they're not the only way. The combination of a good profile, excellent preparation, and effective networking can compensate for not coming from a target university.

"They only hire from three universities." Related to the previous one, but even more exaggerated. Every MBB office has consultants from very diverse backgrounds. What is true is that the firms seek a very high standard of academic and professional excellence, but that's not limited to three names.

"It's impossible to get in from Spain or LATAM." The reality is the same as in any other geography. Maybe the offices are smaller and hire fewer people, but the number of people who apply is also smaller. The selection process and level of difficulty are identical to any office in the world.

MBB vs Big Four: the difference that matters

If you're starting to explore the consulting world, you're probably wondering why not go straight to a Big Four — Deloitte, EY, PwC, KPMG — where odds of getting in are better. It's a legitimate question, and the answer depends on what you're looking for.

The key differences are: projects at MBB are generally of greater strategic impact, with very high-level clients — CEOs and boards directly. Career at MBB is faster in terms of responsibility and promotion. MBB firms sponsor your MBA. And when you decide to leave consulting, the doors that open — private equity, top corporates, startups, venture capital — are significantly wider.

But Big Four also offer real advantages: greater stability, more offices, wider range of services, and in many cases a better work-life balance. There's no universal right answer — it depends on your priorities, your ambition, and what makes you happy. For a more detailed comparison of all types of firms, check out our guide to types of consulting firms.

How to start your journey to MBB: the first steps

If you've just discovered what MBB is and you're at the absolute beginning of your journey, here are the concrete steps we recommend:

First, research, ask, and inform yourself well about whether strategy consulting is a profession that fits you and that you'd like to pursue. Don't let yourself be driven only by prestige or salary — the work is demanding and requires real commitment. Talk to current and former consultants, read about the day to day, and be honest with yourself about whether this pace of work is for you.

If you decide yes, make the commitment to prepare and apply correctly. It's not just sending resumes to see what happens. Preparation for MBB is a process that requires weeks or months of serious work: preparing an impeccable resume, writing personalized cover letters, doing effective networking, practicing cases, preparing FIT questions, and developing your mental math.

And finally, if you decide to do it, do it well. The 7 steps we propose at NextEp MBB give you a complete roadmap: from understanding the process and knowing the firms, through learning the fundamentals of cases, practicing with peers and experts, to mastering the FIT interview and Q&A. Each step has a purpose and an order — skipping one is like trying to run a marathon without training. To understand all the stages of the selection process in detail, check out our guide to the consulting recruitment process.

How MBB is changing: current trends

MBB is not the same industry it was ten years ago. Digitalization has transformed the type of projects being done — today a significant part of the work includes data, analytics, and technology components that didn't exist before. Sustainability has become a huge practice at all three firms. And artificial intelligence is the major disruptor right now — MBB firms are doing everything they can to be at the forefront, both using AI internally and advising their clients on how to implement it.

For the candidate applying today, this means that digital skills and a data-oriented mindset are no longer a differentiator — they're a basic requirement. Cases in interviews increasingly include more data and graphics components, and the ability to work with numbers and draw quick conclusions is more important than ever.

Frequently asked questions about MBB

What exactly does MBB stand for?

MBB is the acronym for McKinsey & Company, Boston Consulting Group, and Bain & Company — the three most prestigious strategy consulting firms in the world.

What's the acceptance rate at MBB?

Approximately 1% of candidates receive an offer. To put it in perspective, Harvard accepts between 3% and 4% of its applicants.

Do I need an MBA to get into MBB?

Not necessarily. The three firms hire at the undergraduate level (analyst), post-MBA, and experienced hire levels. An MBA is not a requirement, though it is a very common path and the firms sponsor their consultants to do one.

How much does an MBB consultant make?

Verified 2025-2026 data by geography and level:

United States (reference market): Analyst/Business Analyst (undergraduate): $90,000–$110,000 base + up to $22,500 bonus = ~$130,000 total. Post-MBA/Associate: ~$192,000 base + $30,000 signing + up to $63,000 bonus = up to $285,000 total (Bain leads in total compensation). Engagement Manager: $200,000–$270,000 base + bonus. Partner: $500,000+ with profit-sharing that can exceed $1M.

Spain: Business Analyst/Analyst: €37,000–€55,000 total compensation. Associate (post-MBA): €87,000–€103,000 total compensation.

Europe — reference Germany/UK: Entry-level Consultant: €75,000–€80,000 base + ~€10,000 bonus = ~€85,000–€90,000 total. MBB pays between 9% and 40% more than Big Four in the same market.

LATAM: At the junior analyst level, salaries in absolute terms are significantly lower than in the US and Western Europe. However, from the post-MBA consultant level onwards, salaries level considerably, because the firms compete for the same regional pool of MBA candidates — which drives compensation toward more comparable ranges across geographies. Salaries are set in local currency.

Salaries within the same country are virtually the same between the three MBB firms and between offices. There's no room for negotiation at entry level. For current data by geography, Glassdoor and PrepLounge are the most reliable sources.

How long do people stay at MBB?

The average is between 2 and 4 years for those who don't pursue a partner career. Many consultants come in, gain incredible experience, and then leave for corporates, private equity, entrepreneurship, or any other sector. Those who pursue a career can become Partner in 8-12 years.

Can I get into MBB from Spain or LATAM?

Yes. The three firms have active offices in Spain and multiple LATAM countries. The selection process is the same as anywhere else in the world.

If what you just read has confirmed that MBB is your path, the next step is understanding how the selection process works from beginning to end. Crack The Interview Process is the guide that explains it all — from the perspective of someone who lived that process from inside for over 8 years at Bain. Available free at nextepmbb.com/resources. And for a complete view of the journey from zero to offer, check out our complete preparation guide for consulting.