Strategy& PwC is one of the most prestigious management consulting firms in the world. As part of the PricewaterhouseCoopers network, Strategy& offers deep expertise in areas like strategy, operations, digital transformation, and organization. The firm is known for its strategic thinking and ability to work with senior executive teams to drive change and growth. But where exactly does Strategy& rank among its peers in the consulting industry?
Background on Strategy&
Strategy& was formed in 2014 from the combination of Booz & Company and PricewaterhouseCoopers’ advisory services. The firm has roots dating back to 1914 and has helped shape the modern management consulting industry. Some key facts about Strategy& include:
- Over 3,800 employees worldwide
- 90 offices in over 40 countries
- Clients include 90% of the world’s largest companies
- Specializes in strategy, digital, operations, organization, and mergers & acquisitions
The firm is known for its intellectual rigor and practical, results-driven approach. Its consultants combine deep strategy expertise with industry knowledge and functional capabilities to help clients capitalize on new opportunities and address complex business issues.
Leading Management Consulting Firms
Strategy& competes against other premium global consulting firms that make up the top tier of the industry:
- McKinsey & Company
- Boston Consulting Group
- Bain & Company
- Strategy& PwC
- Accenture
- Deloitte
These firms are known for hiring top talent out of undergraduate and MBA programs and commanding high fees for their strategic advice and implementation support. They focus primarily on serving large corporations, governments, and institutions.
The major players have distinctive cultures and approaches, but they are similarly focused on high-end strategy, organizational, operational, and technology consulting services.
Strategy& Rankings
So where does Strategy& rank among the elite consulting firms? Here is a look at some key ratings:
Vault Consulting Rankings
Vault is a major career intelligence organization that surveys thousands of consultants to rate firms on prestige, compensation, career development, work/life balance, and other factors. Here is how Strategy& compares in Vault’s 2023 consulting rankings:
| Ranking | Firm |
|---|---|
| 1 | McKinsey & Company |
| 2 | Boston Consulting Group |
| 3 | Bain & Company |
| 7 | Strategy& |
So Strategy& comes in 7th in the Vault prestige rankings, behind the “Big 3” strategy powerhouses but ahead of other large firms like Deloitte and Accenture.
Revenue and Employees
In terms of size, Strategy& is substantially smaller than rivals like Deloitte and Accenture but still boasts billions in revenue and thousands of employees globally:
| Firm | Annual Revenue | Employees |
|---|---|---|
| Deloitte | $52.2 billion | 415,000 |
| Accenture | $44.3 billion | 511,000 |
| Strategy& | $2 billion (PwC Advisory Revenue) | 3,800 |
The larger scale gives Deloitte and Accenture an advantage operationally. However, Strategy& is focused squarely on high-value strategy and management consulting rather than technology implementation.
Strategy Focus
In terms of strategic consulting and thought leadership, Strategy& is still considered one of the top strategy houses globally. Its position just behind McKinsey, BCG, and Bain reflects its pedigree and strategic focus. Other insights into Strategy&’s strategy capabilities:
- Strong CEO and C-suite relationships
- 7 out of 10 new CEOs are former clients
- High impact publications like annual CEO surveys
- Deep bench of strategic experts and experienced project leaders
While smaller than some competitors, Strategy& is still seen as a premier destination for strategic work due to its legacy firm Booz Allen Hamilton’s heritage.
Key Takeaways
In summary, while not as large as Deloitte or Accenture, Strategy& remains one of the top strategic consulting firms in the world and part of the elite group including McKinsey, BCG, and Bain. Key takeaways on Strategy&’s positioning:
- Ranked #7 in Vault’s annual prestige rankings
- Smaller in scale than Deloitte or Accenture but with $2 billion in PwC advisory revenues
- Core strength in corporate strategy, deals, operations, organization, and digital transformation
- Strong CEO relationships and strategy thought leadership
- Storied legacy and reputation as one of the top strategy houses
Strategy&’s ultimate focus is on delivering top strategic thinking combined with practical solutions. While not at the top, Strategy& remains a highly prestigious destination for strategic consulting careers. Its position within the PwC network gives it a unique combination of strategic prowess and implementation expertise.
Strategy& vs. Big 3 Firms
Strategy& competes head-to-head with McKinsey, BCG, and Bain for talent and business. Here is an overview of how Strategy& compares:
Reputation and Prestige
The Big 3 of McKinsey, BCG, and Bain top the industry in prestige. They are the first choice for top graduates and draw clients based on their premium brands. Strategy& has an excellent reputation but trails slightly in prestige and visibility.
Intellectual Content
All four firms publish influential strategy research and surveys. BCG and McKinsey tend to lead in terms of thought leadership volume. Strategy& remains influential especially with CEO-focused content.
Clientele
The firms service similar elite clients across industries. McKinsey and BCG have broader exposure to tech clients. Bain excels in private equity. Strategy& brings deep capabilities in operations and PwC implementation expertise.
Culture and Work-life Balance
The Big 3 are known for intense work cultures and travel expectations. Strategy& strives for a more balanced approach but still demands long hours.
Career Development
All the firms develop consultants exceptionally well. McKinsey and BCG have stronger global mobility options. Bain and Strategy& promote more from within.
Compensation
Compensation is comparable at the major firms when accounting for bonuses. Strategy& may edge slightly higher in base salary. Signing bonuses are more common at McKinsey and BCG.
Alumni Network
The Big 3 have expansive powerful alumni networks. Strategy&’s is smaller but growing quickly as the firm scales. The PwC network offers additional connections.
Recruiting Difficulty
All four firms recruit only ~1-3% of applicants. McKinsey and BCG are likely the most selective overall with their huge applicant pools. Strategy& and Bain selectiveness depends more on office location.
Conclusion
While McKinsey, BCG, and Bain form the top tier of prestige in strategy consulting, Strategy& remains an elite destination for strategic work. It provides unique access to PwC’s scale and capabilities. For those seeking intellectual challenges, Strategy& offers high-end strategy experiences with a balanced approach to life outside work. With its rich history and heritage, Strategy& will continue to be a top choice for those pursuing a career in strategic management consulting.
Frequently Asked Questions
Is Strategy& a good place to start a consulting career?
Yes, Strategy& is widely considered one of the top destinations for launching a consulting career. Its strategic focus provides exposure to complex business issues and develops core consulting skills. The structured career model helps train well-rounded consultants.
What is PwC’s Strategy& known for?
Strategy& is known for its deep strategic expertise, practical approach, and senior executive relationships. It specializes in corporate strategy, growth strategy, M&A, operations, organization, and digital transformation. The firm is considered among the top strategy houses globally.
How prestigious is Strategy& compared to MBB?
MBB firms McKinsey, BCG, and Bain are considered the top three strategy firms by prestige. Strategy& lags slightly behind them but is still regarded as one of the most prestigious strategy consulting firms globally and attracts exceptional talent.
What advantage does PwC provide Strategy&?
PwC gives Strategy& scale, functional expertise, and implementation capabilities. Strategy& can tap into PwC resources in audit, tax, deals, actuarial, and cybersecurity. It also benefits from PwC’s brand and global reach while retaining its strategy focus.
Is compensation higher at MBB or Strategy&?
Compensation is broadly comparable at the major firms when bonuses are factored in. Base salaries may be slightly higher at Strategy&. Signing bonuses are more common for MBB firms. Overall compensation depends more on individual performance than firm.
Tables Comparing Strategy& and Top Firms
Basic Facts
| Firm | Employees | Offices | Founded |
|---|---|---|---|
| McKinsey & Company | 35,000 | 130 | 1926 |
| Boston Consulting Group | 22,000 | 105 | 1963 |
| Bain & Company | 11,000 | 59 | 1973 |
| Strategy& | 3,800 | 90 | 2014 |
Revenue and Growth
| Firm | Revenue | Growth |
|---|---|---|
| McKinsey & Company | $15 billion | 15% |
| Boston Consulting Group | $11.4 billion | 18% |
| Bain & Company | $5.2 billion | 19% |
| Strategy& | $2 billion | 10% |
Service Areas
| Firm | Service Areas |
|---|---|
| McKinsey & Company | Corporate strategy, sector expertise, functions, digital services, implementation |
| Boston Consulting Group | Strategy, technology, digital, analytics, mergers, sustainability |
| Bain & Company | Strategy, mergers, operations, organization, digital, advanced analytics |
| Strategy& | Strategy, operations, organization, digital transformation, mergers & acquisitions |
Conclusion
In the competitive world of strategy consulting, Strategy& ranks among the elite firms. While McKinsey, BCG, and Bain top the industry in prestige, Strategy&’s reputation and strategic expertise remain sterling. The firm’s heritage, client impact, and access to PwC’s capabilities make it a highly sought-after destination for aspiring consultants. With intellectual challenges, high compensation, and unparalleled career development, Strategy& clearly stands out as one of the top strategy consulting firms in the industry today.
