McKinsey Named the “Most Prestigious Consulting Firm” by Vault.com
McKinsey has taken top spot again this year as the “Most Prestigious Consulting Firm” by Vault.com’s prestige ranking for the 9th straight year.
Vault.com is a career resource and has released its annual Top 50 Consulting Prestige Rankings. For the 9th consecutive year, it has ranked McKinsey as the No. 1 consulting company.
McKinsey has long been regarded by consultants as the “gold standard” of consultancies. Other consulting firms which have found a place in Vault.com’s rankings are The Boston Consulting Group at No. 2, Bain & Company at No. 3, Booz & Company at No.4 and Deloitte Consulting at No. 5, among others.
The Managing Editor at Vault.com, Brian Dalton said that McKinsey was impossible to beat in the prestige category as it had, through the years, developed a sort of mystique around it that was unmatched. He also said that respondents to the survey his site conducted said that McKinsey had “invented the industry”.
The survey also revealed that McKinsey was known as the “consulting juggernaut”, “the name for strategy,” an “industry leader”, a “founding father” and “the best of the best”. Some respondents have been critical though, going so far as to call the consulting giant “not invincible, “disconnected,” “pretentious,” “arrogant, overpriced and very junior,” and “egotistical.”
This year’s rankings have seen some newcomers coming into the foray of consulting. Some firms have also made a substantial leap. For instance, A.T. Kearney jumped from being No. 16 last year to No. 11 this year; Diamond Management & Technology Consultants jumped from being No. 36 last year to No. 31 this year and ZS Associates rose from No. 28 to No. 21 this year.
Dalton said in a statement that these jumps are due to the perceived stability firms showed in the face of recession.