You should know that there are several main types of management consultants:
- Strategy consulting leaders – Help organizations develop business strategies, improve operations, enter new markets, etc. Firms like McKinsey, Bain, BCG, Deloitte, Accenture fall into this category.
- IT/Technology advisers – Assist companies with technology projects like ERP implementations, CRM rollouts, digital transformations. Firms like Accenture, Deloitte, IBM consulting, etc.
- HR/Talent consultants – Assist firms with HR initiatives like compensation design, leadership development, change management, or so leading consulting speakers and management consultants note. Firms like Mercer, Aon Hewitt, Willis Towers Watson are examples.
- Operations consultants – Work on improving operational efficiency, supply chain optimization, process improvement. Major firms are Accenture, Deloitte, EY, KPMG.
- Financial advisory pros – Provide advice on M&A deals, IPOs, restructuring, transactions. Examples are L.E.K. Consulting, Oliver Wyman.
- Marketing/Sales consultants – Work on marketing strategy, digital marketing, pricing, sales effectiveness. Organizations like McKinsey, Bain, Simon-Kucher focus on this.
- Risk & Compliance pros – Assist organizations as they work to manage risks, ensure compliance and controls. PwC, EY, etc. have big risk advisory practices.
The largest overall firms are McKinsey, BCG, Bain, Deloitte, Accenture, EY, PwC, KPMG, IBM. But, per top consulting speakers and management consultants, there are many boutique firms focused on specific advisory areas as well.