Differences between Mckinsey and Deloitte?
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McKinsey began their focus on strategy and consulting in general before it was a movement in corporate America. They also began giving legitimacy to the then-unpopular MBA (back then, business education was looked down upon as a path for the otherwise incapable). They have had decades to develop relationships at companies and actively support their alumni in seeking key roles in industry to hopefully turn them into clients one day. The big 4 began consulting much later, and we are all really young in comparison. We've only been consulting again for maybe 10 years? Even Deloitte contracted during the post-SOX era when they couldn't find a buyer. While the implementation market is where the growth is (which, btw, McK does a lot of strategy implementation), the history of their brand and the strength of their relationships allows them to hold a relatively more prestigious position in the industry.
Current McK (3years), also worked at another firm like Deloitte (2years). Here are a bunch of random comments: (1) Agree with DFW who said McK people are generally more able, harder working, and produce better results -- not always but often. (2) Hate the strategy vs. implementation comment as majority of what McK does is not corporate strategy. That said, McK clients will tend to be higher up in the org and the projects will be higher level as well. Compared to all of the IT guys on here, projects will be very different. (3) Yes, I think satisfaction is higher at MBB. The bill rates are higher and the partner leverage lower. This allows for better expense policies (some of what I've read on this board is shocking), more support to take away some the grunt work of consulting where appropriate (e.g., Visual Graphics India to make slides, Analytics resources with stats background and R to do analyses), higher pay (less so at the post-MBA level as everyone's "strategy" group will match MBB. Pay differences will grow as you progress though), and faster promotion (mostly due to lower leverage ratio --McK is 5-8 years to partner. Mode is probably 6.5) (4) competition to get into MBB, and then get promoted once there, tends to be higher. It's a better prize, thus more competition to get it. This generally leads to longer hours. Another thread people were posting 10-12 hours per day -- I never work this little.
OP bro please don't ask such stupid questions and open the floodgates for other consulting firms to come and mock us
Deloitte starts with a D
^And sucks it too
This is like asking what's the difference between Tesla and GM
Can't even believe this question was asked
McKinsey is an Irishman, Deloitte is French
McKinsey is more prestigious when it comes to strategy. Deloitte offers full service (strategy, technology, human capital), but is not considered as prestigious in the strategy service area.
Everything.
Yeah. Might wanna check your boy. That was reckless and uncalled up. A flag on the play.
McKinsey is pure strategy. Deloitte can do the whole suite of professional services.
The amount of implementation work versus strategy work. Mck has much more of the latter.
Deloitte didn't even bother to offer me a first round interview (neither did KPMG or PWC), but McKinsey, Bain and BCG gave me offers.
One has a big D. The other is Deloitte.
If you have to ask...
As an Irishman, I'm confused by the Irishman reference
No @McK, Deloitte is a French name
Obviously I'm aware that Mckinsey is strategy. I ask the question because I don't understand why simply strategizing and not actually implementing is more prestigious. I wondered what the lure of the career is over actually seeing results versus just suggesting them.
So wouldn't think it would need to be stated this blatantly but McKinsey is more prestigious because the people there are consistently better consultants who provide higher quality work that justify higher fees and more prestige. This in turn enables them to recruit the more sought after, smarter candidates and perpetuate the cycle. Sure it takes some time to develop this but Deloitte has had consulting for 20 years which isn't as long as McKinsey but ample. Bain refounded itself in the mid nineties and surpassed Deloitte's prestige (and most others) to be a peer of BCG and McKinsey. Bottom-line is Deloitte does strategy but is known for and makes tons of money on lower fee, more commoditized work. It is the Toyota to McKinsey's Mercedes.