When it comes to consulting services, size does not necessarily amount to prestige. In 2023, McKinsey & Company was rated as the most prestigious consulting firm in the United States with a rating of more than nine.
The Big Four
Of all the consultancy firms, the best known are the Big Four, who account for almost 40 percent of the global market. The Big Four consists of the firms Deloitte, PwC (Pricewaterhouse Coopers), EY (Ernst & Young) and KPMG. These multinational businesses primarily provide financial consulting services such as taxation, audit, and risk advisory. Together, the revenue that they generate from consulting services dominates the financial segment of this particular U.S. market.
A multi-faceted market
While the global consultancy firms may have a significant amount of turnover defined by audit and risk advisory, this service is only one segment of the global market. Management consulting services and the vast global revenue that it creates are broadly conceived of as including the operations, strategy, and human resources segments, and this has constituted towards more than half of the global market.
