Why Bain over the other 2?
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McKinsey & Company McKinsey & Company which functions do you consider to be “Strategy”? And in two years of being a generalist associate, what % of your time was spent in each of these? 1. Digital 2. Growth, Marketing & Sales, 3. Implementation 4. M&A 5. Operations 6. People & Organizational Performance 7. Strategy & Corporate Finance 8. Sustainability 9. Transformation
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Is firm travel back up to pre covid levels?
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You were in greek life and not quite ready to give all that up yet
Major reasons (non exhaustive):
1) from what I can tell, Bain takes work life sustainability the most seriously amongst peers. And it’s not just empty words - very tactical measures like tracking real hours. End result is that Bainees consistently (on average) work a few fewer hours each week than peers at Mck / BCG
2) Distinctive capabilities in PE / investors. Also stands out in strategy for tech companies
3) staffing model let’s you stay as a generalist for very long and takes pressure off you in terms of finding projects. Also results in you working with the same people more often, which improves office relationships
4) less travel overall - complements point 1 on work life sustainability
5) lower portion of (IMO) “boring” cases that premium firms have tried hard to enter in an effort to scale (such as long term PMO, digital back office, etc.)
Key downsides:
1) local staffing can limit the types of cases you’re exposed to because it really depends on what partners in your office sell (usually aligns with the local economy)
Mentor
Great summary.
Would add a #6 that we are growing more rapidly and that opens up exciting opportunities to grow into new geos and capabilities with Bain (not necessarily true at McK/BCG as they are larger and have been through this phase of the growth cycle)
It’s all just a color thing really
Deep facts right here
Mentor
Bainies, please correct me if I'm wrong, but this is what I recall from my own choice:
1) Bain backs up their claims about "culture" (which can be vague/meaningless) with structural elements and metrics to hold Partners accountable, and makes these metrics visible to all. BCG/McK have much feebler accountability metrics on teams. I don't know a lot about how this specifically works at Bain, but my understanding is you have some visibility into who burns teams vs who is a great leader, and it pushes everyone to be better.
2) Because McK and BCG do a lot of government work, and some of it may be unsavory or controversial, some people prefer Bain's habit of staying out of government work.
3) Bain's staffing model gives you less direction but also lets you stay a generalist for longer, and reduces the politics of a self-directed staffing model, especially for newer folks.
I don’t love the government work we do (dunno about McK’s) because it’s more client enablement and slower than private sector. However, it’s pretty game changing work and I’m very proud of the folks who do it.
Bain has the same corporate colors as Gryffindor
He also did that because he couldn't be with the one he loved. She ends up going to his arch nemesis (McK), and he's been hurt ever since.
If you want the culture and to get to know your office people better. Bain staffs you on teams all within your office, and since the offices are smaller too, there's more of a binding experience.
Also, PE aside, there are several other areas where Bain is strong.
I think the koolaid reaction is more so thinking that PIPE suddenly rivals PEG (as I’ve heard from many BCGers on this app) because it benefited from a busy PE season over COVID.
If you want to get in to high finance & stay regional Bain is your firm.
If you don't want to travel and be regional.
Otherwise Bain > BCG for PE work
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