The Complete Guide to Tier 2 Consulting Firms
Author: Taylor Warfield, Former Bain Manager and interviewer
Last Updated: March 19, 2026
Tier 2 consulting firms include Oliver Wyman, Kearney, LEK, Roland Berger, Deloitte, Strategy&, EY-Parthenon, Accenture, Booz Allen Hamilton, and ZS Associates. These firms offer competitive salaries, strong professional development, and deep industry specializations that make them excellent alternatives to MBB.
In this guide, you will learn exactly what tier 2 consulting firms are, how they compare to McKinsey, Bain, and BCG on salary, prestige, and work-life balance, and what you need to do to get hired. Having interviewed hundreds of candidates during my time at Bain, I can tell you firsthand that tier 2 firms are an outstanding career launchpad.
But first, a quick heads up:
McKinsey, BCG, Bain, and other top firms accept less than 1% of applicants every year. If you want to triple your chances of landing interviews and 8x your chances of passing them, watch my free 40-minute training.
What Changed in 2026?
We updated salary figures across all ten tier 2 firms using the latest Glassdoor and LinkedIn data. We also added two new firm profiles (Booz Allen Hamilton and ZS Associates), expanded the comparison table between tier 2 and MBB, and added new sections covering exit opportunities and the hiring process. All statistics and employee counts have been refreshed to reflect current figures.
What Are Tier 2 Consulting Firms?
Tier 2 consulting firms are large, successful management consulting companies that fall one step below McKinsey, Bain, and BCG in overall prestige and brand recognition. They still operate globally, serve Fortune 500 clients, and offer competitive compensation.
The label “tier 2” does not mean these firms are small. Accenture, for example, employs over 700,000 people and generates more revenue than any MBB firm. The tier classification primarily reflects prestige and the type of strategic work the firm is best known for, not size.
Many tier 2 firms do the same strategy, operations, and M&A work that MBB firms handle. However, MBB firms tend to dominate the highest-profile, CEO-level strategy engagements. Tier 2 firms frequently have deeper specializations in specific industries or functional areas that make them the preferred choice for certain clients.
How Are Consulting Firms Classified?
There is no official industry body that assigns tiers. The classification is based on reputation, selectivity, salary levels, and the types of projects each firm is known for. Here is how the consulting landscape breaks down:
Tier |
Firms |
Known For |
MBB (Tier 1) |
McKinsey, BCG, Bain |
Highest-prestige global strategy work, CEO-level engagements, 1–3% acceptance rates |
Tier 2 |
Oliver Wyman, Kearney, LEK, Roland Berger, Accenture, Strategy&, EY-Parthenon, Deloitte S&O, Booz Allen Hamilton, ZS Associates |
Industry-specialized strategy and operations, 5–15% acceptance rates, strong regional presence |
Deloitte, PwC, EY, KPMG |
Broad professional services including audit, tax, technology, and consulting. Largest firms by total revenue and headcount. |
|
Varies widely |
Deep niche expertise in one industry or function. Smaller teams, fewer offices, highly specialized engagements. |
Note that Deloitte and EY appear in both the Big Four and tier 2 lists. That is because their strategy consulting arms (Deloitte S&O and EY-Parthenon) compete directly with MBB on strategy work, even though the broader firm is categorized as Big Four.
How Do Tier 2 Firms Compare to MBB?
The biggest differences between tier 2 consulting firms and MBB come down to five factors: prestige, salary, selectivity, specialization, and work-life balance. Based on my experience at Bain and coaching candidates at both tiers, here is a direct comparison.
Factor |
MBB (Tier 1) |
Tier 2 Firms |
Prestige |
Highest in consulting. Universally recognized brand names. |
Highly respected, especially within their specialty industries. |
Entry-Level Salary (Undergrad) |
$110K–$120K base + bonus |
$80K–$115K base + bonus |
Entry-Level Salary (MBA) |
$190K–$195K base + bonus |
$150K–$180K base + bonus |
Acceptance Rate |
1–3% of applicants |
5–15% of applicants |
Work Focus |
Generalist high-level strategy across all industries |
Industry-specialized strategy, operations, and implementation |
Work-Life Balance |
Demanding. 55–70+ hour weeks are common. |
Still demanding but generally 50–60 hour weeks. Less travel at some firms. |
Global Offices |
65+ countries, 100+ cities |
Varies: 20–70+ offices depending on firm |
Exit Opportunities |
Broadest options: PE, Fortune 500 C-suite, startups, VC |
Strong options, especially in the firm’s specialty industries |
According to Glassdoor salary data, MBB undergrad hires earn roughly $110K to $120K in total first-year compensation. Tier 2 firms range more widely. LEK and Oliver Wyman pay at the higher end ($110K+), while Accenture and some Big Four strategy arms start closer to $80K to $100K.
The acceptance rate gap is significant. Based on publicly reported figures, MBB firms accept about 1 to 3% of applicants. Tier 2 firms are more accessible at roughly 5 to 15%, though they are still highly competitive. In my experience coaching candidates, a strong tier 2 application requires the same rigor in case interview preparation as an MBB application.
What Are the Top Tier 2 Consulting Firms?
Below are the ten most prominent tier 2 consulting firms. For each, I have included key stats, a firm overview, areas of expertise, and cultural highlights based on publicly available information and conversations with consultants at these firms.
1. Deloitte (Strategy & Operations)
Key Stats
- Headquarters: London, United Kingdom
- Employees: 415,000+ (firmwide)
- Offices: 130+ countries
- Website: deloitte.com
Overview
While Deloitte is the largest Big Four accounting firm by revenue, its Strategy & Operations group competes directly with MBB on high-level strategy work. Deloitte significantly boosted its consulting capabilities by acquiring Monitor Group in 2013. Today, Deloitte S&O handles corporate strategy, M&A, business model transformation, and supply chain projects across nearly every industry.
Expertise
Deloitte Strategy & Operations covers corporate strategy, customer strategy, marketing, mergers and acquisitions, social impact strategy, innovation, supply chain, manufacturing operations, and financial management. To learn more, check out our article on "why Deloitte?"
Culture
Deloitte’s culture emphasizes inclusion, collaboration, and high performance. A unique investment in professional development is Deloitte University, a $300M training facility in Texas where employees gather for skills development and leadership programs.
2. Strategy& (PwC)
Key Stats
- Headquarters: New York, NY
- Employees: 3,000+ strategy consultants (250,000+ PwC professionals)
- Offices: 57 countries
- Website: strategyand.pwc.com
Overview
Strategy& was formerly Booz & Company, which ranked as the number four consulting firm behind MBB before PwC acquired it in 2014. The firm has a strong client portfolio that includes many of the world’s largest companies. Being part of the PwC network gives Strategy& consultants access to global resources while maintaining a boutique strategy feel.
Expertise
Strategy& works across six functional areas: corporate and business strategy, customer strategy, deals strategy, operations strategy, people and organization strategy, and technology strategy. They cover nearly every industry.
Culture
The firm emphasizes individuality, teamwork, intellectual integrity, and a drive for excellence. Strategy& hosts weekly happy hours and runs a “Common Connections” program for cross-office networking. Consultants typically work slightly fewer hours than MBB peers and report a somewhat better work-life balance.
3. LEK Consulting
Key Stats
- Headquarters: London, England
- Employees: 2,200+
- Offices: 21 locations globally
- Website: lek.com
Overview
LEK was founded in 1983 by three former Bain partners: James Lawrence, Iain Evans, and Richard Koch. The firm name is an acronym of their last names. LEK focuses on rigorous data analysis and practical client results. They have a large private equity practice and handle significant M&A advisory work.
Expertise
LEK has four core practice areas: strategy, marketing and sales, operations, and mergers and acquisitions. They work across many industries but are best known for healthcare, life sciences, and private equity due diligence.
Culture
LEK’s core values are intelligence, honesty, diligence, collaboration, and responsibility. The firm gives substantial responsibility to junior consultants early on. LEK employees travel less than consultants at most other firms, which helps foster strong office communities and a healthier work-life balance.
4. Oliver Wyman
Key Stats
- Headquarters: New York, NY
- Employees: 6,700+
- Offices: 70+ in 30 countries
- Website: oliverwyman.com
Overview
Oliver Wyman was founded in 1984 by a group of entrepreneurs. Two of its founders, Alex Oliver and Bill Wyman, were former partners from Booz Allen Hamilton. Today, Oliver Wyman is a subsidiary of Marsh & McLennan. The firm is one of the fastest growing management consulting firms and has a strong presence in Europe and Asia.
Expertise
Oliver Wyman services nearly all industries but is best known for financial services, including retail banking, wealth management, insurance, and risk management. Other practice areas include strategy, actuarial, corporate finance, restructuring, pricing, sales, and marketing.
Culture
Oliver Wyman looks for driven, innovative employees and values teamwork, mutual respect, and the open exchange of ideas. Each new hire gets an advisor and mentor for professional development. The firm works shoulder-to-shoulder with clients on implementation, not just strategy recommendations.
5. EY-Parthenon
Key Stats
- Headquarters: Boston, MA
- Employees: 9,000+ (365,000+ EY professionals firmwide)
- Offices: 40+ countries
- Website: ey.com/en_us/strategy
Overview
Parthenon was founded in 1991 by two former Bain consultants as a specialty boutique consulting firm. Ernst & Young acquired it in 2014 to build out its strategy consulting practice. The combination of Parthenon’s strategy expertise with EY’s global reach and implementation capabilities makes EY-Parthenon a strong competitor for complex, multi-phase engagements.
Expertise
EY-Parthenon works across consumer products, industrial products, education, financial services, healthcare, life sciences, oil and gas, private equity, media, and technology. Private equity due diligence is a major focus area.
Culture
The firm has an entrepreneurial, collegial, and transparent work culture with an emphasis on intensive training for new hires. Because of its large private equity practice, employees typically travel less than consultants at other firms. This fosters a tight-knit office culture.
6. Accenture (Strategy)
Key Stats
- Headquarters: Dublin, Ireland
- Employees: 750,000+ (firmwide)
- Offices: 200+ cities in 120+ countries
- Website: accenture.com
Overview
Accenture is primarily a technology consulting and integration firm, but its strategy division (Accenture Strategy) does work similar to MBB. Accenture Strategy focuses on CEO-agenda strategy, digital transformation, and operating model design. The firm’s massive global footprint and technology capabilities make it a unique player that can take a project from strategy through implementation.
Expertise
Accenture consulting projects tend to be more operations and technology focused, covering efficiency, cost reduction, analytics, digital transformation, and change management. Accenture services every major industry and counts most of the Fortune Global 100 as clients.
Culture
Given Accenture’s size, there is no single unified culture across the entire organization. However, Accenture Strategy maintains a more consulting-like feel with smaller teams. Consultants are typically well-rounded, outgoing, and collegial. The firm invests heavily in training through programs like Accenture Connected Learning.
7. Kearney
Key Stats
- Headquarters: Chicago, IL
- Employees: 5,700+
- Offices: 40+ countries
- Website: kearney.com
Overview
Kearney has nearly a century of history. The firm split from McKinsey in 1939 when founder Andrew Thomas Kearney, McKinsey’s first hired partner, went independent. Originally called AT Kearney, the firm rebranded as Kearney in 2020. Today, the firm is especially strong in sourcing, supply chain, and cost reduction consulting.
Expertise
Kearney is widely considered the best procurement, sourcing, and operations consulting firm in the world. The firm also does marketing and sales, M&A, organizational transformation, strategic IT, and corporate strategy work. They serve clients across nearly every industry.
Culture
Kearney has a collegial, down-to-earth culture where employees are known for helping each other out. The core values are collaboration and entrepreneurial spirit. However, work-life balance can be tough due to a Sunday-through-Friday travel schedule at some offices, which leads to longer weeks than some peer firms.
8. Roland Berger
Key Stats
- Headquarters: Munich, Germany
- Employees: 3,000+
- Offices: 50+ in 35 countries
- Website: rolandberger.com
Overview
Roland Berger was founded in 1967 and quickly became the largest consulting firm in Germany. The firm has rejected acquisition offers from both Deloitte (2010) and EY (2013), choosing to remain independent. Roland Berger has a dominant presence in Europe, particularly in the DACH region (Germany, Austria, Switzerland), and is expanding in Asia and the Middle East.
Expertise
Roland Berger’s practice areas include corporate development, corporate finance, information management, operations strategy, performance improvement, and strategy. The firm is best known for serving industrial clients, especially in the automotive, capital goods, energy, chemicals, and transportation sectors.
Culture
Roland Berger’s three core values are entrepreneurship, excellence, and empathy. The firm hosts Friday get-togethers to discuss business developments and exchange news. Individual offices maintain their own traditions including office lunches, after-work events, and sports clubs.
9. Booz Allen Hamilton
Key Stats
- Headquarters: McLean, VA
- Employees: 35,000+
- Offices: 80+ locations globally
- Website: boozallen.com
Overview
Booz Allen Hamilton was founded in 1914, making it one of the oldest consulting firms in the world. The firm is uniquely focused on serving government clients, particularly in defense, intelligence, and civil sectors. According to Vault’s 2024 rankings, Booz Allen is the number one firm for public sector consulting. The firm also provides strategic and technology consulting to private sector clients in healthcare and energy.
Expertise
Booz Allen’s strengths are cybersecurity, digital transformation, advanced analytics, AI and machine learning, and defense consulting. The firm also advises civilian government agencies on modernization, IT strategy, and organizational transformation.
Culture
Booz Allen’s culture revolves around mission-driven work. Consultants tend to be motivated by public service and national security impact. The firm offers competitive benefits including strong retirement plans and security clearance opportunities that open unique career paths unavailable at other consulting firms.
10. ZS Associates
Key Stats
- Headquarters: Evanston, IL
- Employees: 13,000+
- Offices: 35 locations worldwide
- Website: zs.com
Overview
ZS Associates was founded in 1983 by two professors from the Kellogg School of Management at Northwestern University. The firm has built a strong reputation in data science, analytics, and technology-driven consulting. ZS is especially dominant in the pharmaceutical and healthcare industries, where it is considered a go-to advisor for sales force effectiveness and commercial strategy.
Expertise
ZS specializes in sales and marketing strategy, commercial effectiveness, pricing, and data analytics. While the firm works across consumer goods, financial services, and technology, its primary focus is healthcare and life sciences. ZS’s data-driven approach makes it a standout for clients that need analytics-heavy solutions.
Culture
ZS has a collaborative, analytically-oriented culture. The firm attracts employees who enjoy working at the intersection of data science and business strategy. ZS invests heavily in proprietary technology platforms and tools, giving consultants access to cutting-edge analytical capabilities.
What Are the Pros and Cons of Working at a Tier 2 Firm?
Tier 2 consulting firms offer many of the same benefits as MBB while having some distinct advantages and disadvantages. Here is an honest breakdown based on my experience advising candidates on both paths.
Pros |
Cons |
Higher acceptance rates (5–15%) make them more accessible |
Lower overall brand prestige than MBB |
Deep industry specializations can make you a sought-after expert |
Lower starting salaries at some firms ($80K–$100K vs $110K+ at MBB) |
Generally better work-life balance with less travel |
Narrower range of high-profile strategy engagements |
Faster path to responsibility on projects |
Smaller alumni networks than MBB |
Excellent professional development and training |
Some firms have less structured career progression |
Competitive compensation with good benefits |
Exit opportunities may be more concentrated in the firm’s specialty areas |
One underrated advantage of tier 2 firms is the level of client exposure junior consultants receive. At MBB, junior team members sometimes work on narrow analytical workstreams. At many tier 2 firms, you interact directly with clients earlier in your career.
What Are the Exit Opportunities from Tier 2 Consulting Firms?
Exit opportunities from tier 2 consulting firms are strong, though they tend to be concentrated in the industries where each firm specializes. According to LinkedIn data, the most common exit paths for tier 2 consultants include corporate strategy roles, industry leadership positions, private equity, and startups.
Oliver Wyman alumni frequently move into senior roles in financial services and insurance. LEK consultants often exit into healthcare and private equity portfolio companies. Kearney alumni are highly valued in supply chain and operations leadership. Booz Allen Hamilton consultants frequently transition into senior government positions or defense contractors.
MBB alumni have the broadest set of exit opportunities because their brand opens doors across all industries. But if you know you want to build a career in a specific sector, a tier 2 firm with deep expertise in that sector can actually be a better springboard.
How Do You Get Hired at a Tier 2 Consulting Firm?
The hiring process at tier 2 consulting firms closely mirrors the MBB process. You will submit a resume, pass screening interviews, and face multiple rounds of case interviews and behavioral interviews. Based on my experience interviewing candidates, here is what to expect.
What Does the Interview Process Look Like?
Most tier 2 firms follow a two-round interview structure. The first round typically includes one to two case interviews plus a behavioral or fit interview. If you advance, the final round adds two to three more case interviews and deeper behavioral questions with senior partners.
Case interviews at tier 2 firms follow the same format as MBB: market sizing, profitability analysis, market entry, M&A, and pricing cases. Some firms add industry-specific cases. Oliver Wyman may present financial services scenarios. Kearney may focus on supply chain or operations problems. LEK often includes healthcare or private equity due diligence cases.
If you want to master case interviews quickly, my case interview course walks you through proven strategies that work for both MBB and tier 2 firms in as little as 7 days.
What Do Tier 2 Firms Look for in Candidates?
Tier 2 consulting firms look for the same core qualities as MBB: structured thinking, strong quantitative skills, clear communication, and leadership potential. However, tier 2 firms place additional weight on industry knowledge and cultural fit.
Having coached hundreds of candidates, I have noticed that tier 2 firms are more likely to probe why you want to work at their specific firm rather than at MBB. You need a genuine, specific answer. Saying you want Oliver Wyman because of their financial services expertise is far more compelling than saying you just want to be a consultant.
Strong candidates typically have a top undergraduate or MBA degree, relevant internship or work experience, and demonstrated problem-solving ability. Quantitative backgrounds in finance, engineering, economics, or data science are valued. According to firm recruiting data, most tier 2 firms hire from a similar set of target schools as MBB, though they often extend their recruiting to a broader set of universities.
Frequently Asked Questions
Is It Worth Working at a Tier 2 Consulting Firm?
Yes. Tier 2 consulting firms offer competitive salaries, excellent training, strong exit opportunities, and deep industry expertise. Many consultants build entire careers at tier 2 firms and reach senior partner levels. Others use the experience as a launchpad into industry, private equity, or even MBB.
Can You Move from a Tier 2 Firm to MBB?
It is possible but requires exceptional performance, strong case interview skills, and a solid professional network. According to LinkedIn data, the most common path is to perform well at a tier 2 firm for two to three years and then apply to MBB as an experienced hire. Having a strong referral from an MBB consultant significantly increases your chances.
What Is the Salary at Tier 2 Consulting Firms?
Entry-level salaries at tier 2 firms range from roughly $80,000 to $115,000 for undergrad hires and $150,000 to $180,000 for MBA hires, depending on the firm. LEK and Oliver Wyman tend to pay at the higher end, while Accenture and some Big Four strategy arms start lower. Total compensation including bonuses narrows the gap with MBB.
What Is the Acceptance Rate at Tier 2 Consulting Firms?
Tier 2 consulting firms accept approximately 5 to 15% of applicants, compared to 1 to 3% at MBB. These rates vary by firm, office, and year. While more accessible than MBB, tier 2 firms are still highly selective and require thorough interview preparation.
Which Tier 2 Consulting Firm Is the Most Prestigious?
This depends on the industry. For financial services, Oliver Wyman is widely considered the most prestigious tier 2 firm. For operations and supply chain, Kearney leads. For healthcare and life sciences, LEK and ZS Associates are top choices. For government and defense consulting, Booz Allen Hamilton is the clear leader.
Are Big Four Consulting Firms Considered Tier 2?
The Big Four firms (Deloitte, PwC, EY, KPMG) are generally classified separately from tier 2 because they are primarily known as accounting and professional services firms. However, their strategy consulting divisions, such as Deloitte S&O, Strategy& (PwC), and EY-Parthenon, compete directly with tier 2 and even MBB firms on strategy work.
How Should You Prepare for Tier 2 Consulting Interviews?
Prepare the same way you would for MBB interviews. Practice case interviews extensively, master mental math, and prepare strong answers for behavioral questions. The key difference is that tier 2 firms may include industry-specific cases related to their specialty areas, so research the firm’s focus industries before your interview.
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