Tier 2 Consulting Firms: Who They Are & What Sets Them Apart (2025)

When discussing the consulting industry, most people are familiar with Tier 1 firms like McKinsey, BCG, and Bain (MBB). However, Tier 2 consulting firms play a crucial role in the industry, offering strong career opportunities, competitive salaries, and specialized expertise across various sectors.

In this guide, we’ll explore who the Tier 2 consulting firms are, how they compare to Tier 1 firms, and what sets them apart in 2025.

What Are Tier 2 Consulting Firms?

Tier 2 consulting firms are highly respected firms that offer strategy, management, operations, and technology consulting but do not have the same level of prestige or global dominance as McKinsey, BCG, or Bain (MBB).

• Top global firms outside of MBB that still rank among the best in strategy, operations, and management consulting.
• Serve Fortune 500 companies, government agencies, and startups.
• Competitive in strategy consulting, digital transformation, and operational efficiency.

Consulting Firm Categorization Table (2025)

Top Tier 2 Consulting Firms (2025)

Tier 2 consulting firms offer strong strategy, operations, and industry-specific consulting while competing with MBB (McKinsey, BCG, Bain) in certain areas.

Below are some of the top Tier 2 consulting firms in 2025, known for their expertise, career growth opportunities, and high-impact projects.

1. Oliver Wyman

• Specializes in financial services, healthcare, and risk management.
• One of the highest-paying Tier 2 consulting firms, offering salaries close to MBB.
• Boutique-style firm with highly analytical and quantitative projects.

Founded in 1984, Oliver Wyman is a leading global management consulting firm headquartered in New York City. It operates in over 60 cities across 30 countries and is known for its deep analytical expertise and data-driven decision-making.

The firm is particularly strong in financial services, risk management, and healthcare consulting, serving top-tier banks, insurance companies, and government agencies. With a reputation for high-impact strategy work, Oliver Wyman competes with MBB on select projects, particularly in finance and risk consulting. The firm is part of Marsh & McLennan Companies (MMC), giving it access to a broader range of professional services.

2. Kearney (formerly A.T. Kearney)

• Known for operations, supply chain, and strategic transformation consulting.
• Strong focus on industrials, consumer goods, and energy sectors.
• Offers a balance of strategy and implementation, competing with both MBB and Big 4 firms.

Founded in 1926 and headquartered in Chicago, Illinois, Kearney is one of the oldest strategy and management consulting firms in the world. The firm has a presence in over 40 countries, serving Fortune 500 companies, governments, and private equity firms.

Known for its deep expertise in operations, supply chain, and procurement, Kearney helps companies optimize efficiency and drive profitability. It is especially strong in industrials, energy, and manufacturing, competing with McKinsey Operations and BCG’s transformation practices. Kearney also offers a more balanced work-life culture compared to Tier 1 firms, making it an attractive option for consultants seeking a sustainable career.

3. Roland Berger

• A European-based strategy consulting firm with a global presence.
• Specializes in automotive, industrials, digital transformation, and energy.
• Often competes with MBB in European and Asian markets.

Founded in 1967 in Munich, Germany, Roland Berger is one of the largest European strategy consulting firms, with a strong presence in Europe, the Middle East, and Asia. The firm operates in over 50 offices across 35+ countries and is known for its deep expertise in automotive, industrials, and energy consulting.

Roland Berger works closely with major car manufacturers, renewable energy firms, and digital transformation projects, making it a preferred choice for companies in engineering-heavy industries. While it lacks the global dominance of MBB, Roland Berger is a top-tier consulting firm in Europe, regularly competing with BCG and McKinsey for high-profile engagements.

4. LEK Consulting

• Strong expertise in life sciences, healthcare, and private equity consulting.
• Known for its highly data-driven and analytical consulting approach.
• Frequently competes with EY-Parthenon and Bain in PE due diligence and M&A strategy.

Founded in 1983 in London, LEK Consulting has grown into a highly respected boutique strategy consulting firm with offices in North America, Europe, and Asia-Pacific. The firm is best known for its expertise in life sciences, healthcare, and private equity consulting, working with biotech firms, pharmaceutical companies, and hospital networks.

LEK is one of the top consulting firms for private equity and M&A due diligence, frequently advising investors on buy-side and sell-side transactions. Its reputation for quantitative rigor and data-driven strategy work makes it a strong competitor to Bain and EY-Parthenon in the private equity and M&A space.

5. Booz Allen Hamilton

• Primarily focused on government, defense, and national security consulting.
• Provides expertise in cybersecurity, AI, digital transformation, and public sector strategy.
• A leading consulting firm for federal and military agencies in the U.S.

Founded in 1914, Booz Allen Hamilton is one of the most established consulting firms in the U.S., headquartered in McLean, Virginia. The firm is highly specialized in government, defense, cybersecurity, and technology consulting, working with federal agencies, the military, and intelligence organizations.

Unlike MBB and other Tier 2 firms, Booz Allen primarily serves public sector clients, helping them with digital transformation, AI implementation, and strategic risk management. It is a top employer for consultants with security clearances and has played a significant role in national security and defense-related projects, making it a leader in public sector consulting.

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Tier 2 Consulting Firms vs. MBB: Career Growth & Exit Opportunities

Work Experience & Training

• Tier 2 firms invest heavily in training and mentorship, though not as structured as MBB.
• Offers global project exposure, but industry specialization is more common.

Exit Opportunities for Tier 2 Consultants

While MBB firms have a stronger reputation for placing alumni into private equity (PE), venture capital (VC), and Fortune 500 leadership, Tier 2 firms still offer excellent career exits, including:

• Corporate Strategy & Business Development at Fortune 500 companies
• Tech & Product Management (Amazon, Google, Meta, Microsoft)
• Finance & Private Equity (PE/VC roles) (fewer opportunities than MBB, but still possible)
• Entrepreneurship & Startups

Salary & Compensation Comparisons

How to Get Hired at a Tier 2 Consulting Firm

So, you want to break into a global consulting firm -- one that might not be MBB, but still offers top-tier consulting services, high-impact consulting projects, and strong career growth? Tier 2 firms are powerhouses in their own right, competing in strategic management consulting, corporate finance, business process management, and operations consulting across industries.

Getting hired at leading firms like Oliver Wyman, Kearney, Roland Berger, and LEK Consulting isn’t easy. They still demand elite talent, structured problem-solving, and a consultant’s ability to think on their feet. But with the right strategy, case prep, and networking, you can land the offer.

Qualifications & Skills Required

Tier 2 consulting firms look for candidates who can deliver high-value consulting services to Fortune 500 companies, financial services sector leaders, and disruptive startups. While they may not have the same brand prestige as MBB, they still hire top talent with elite problem-solving capabilities and business acumen.

So, what do these firms want?

• A top-tier MBA or a strong undergraduate degree: Think Ivy League, top business schools, or highly ranked international programs. If you’re coming from a non-traditional background, show exceptional achievements in business, finance, tech, or operations.
• Sharp quantitative and analytical skills: Expect to work on corporate finance, digital transformation, and business process management projects.
• Strategic thinking & structured problem-solving: Can you break down complex business strategy problems, market entry decisions, or M&A challenges?
• Experience in data analytics, digital strategy, or financial modeling: A plus, but not mandatory. As more firms pivot toward tech-driven consulting, these skills will set you apart from other consulting applicants.

Case Interview Preparation for Tier 2 Firms

If you’re dreaming of a career in consulting, then you know what’s coming: the case interview.

Tier 2 firms mirror MBB when it comes to case interview expectations, but they also mix in industry-specific challenges. You might get a case focused on supply chain optimization at an operations consulting firm or market sizing for a new fintech product in the financial services sector.

Here’s what you need to know:

• Case interviews follow the classic MBB format: Expect market sizing, profitability, business strategy, and M&A cases. Some firms focus on digital transformation and operations consulting cases, so be ready to apply business process management principles.
• Behavioral interviews test more than just leadership: Tier 2 firms love structured, well-thought-out examples of teamwork, resilience, and problem-solving under pressure.
• Use the best case prep resources: If you haven’t already, start practicing with Case in Point (Marc Cosentino), Victor Cheng (LOMS), PrepLounge, and Management Consulted. Aim for 30-50 cases before your interview.

Want to stand out? Learn about other consulting firms in your target industry and how your Tier 2 firm differentiates itself in consulting services. Knowing this adds credibility to your responses and helps you tailor your approach.

Networking & Application Strategies

Let’s be real: Referrals matter.

While Tier 2 consulting firms recruit from top business schools and target universities, many hires happen through networking and employee referrals. You need to make connections before you even submit your application.

So, how do you do that?

• Network with alumni, consultants, and recruiters: Reach out to people at your target firm, set up coffee chats, and ask about their consulting projects, career growth, and firm culture.
• Tailor your resume for strategy consulting: Your resume should scream structured problem-solving, leadership, data-driven decision-making, and analytical thinking. Highlight corporate finance, operations consulting, or strategic management consulting experience if you have it.
• Apply early in the recruiting cycle: Unlike MBB, some boutique consulting firms and Tier 2 firms hire on a rolling basis. If you wait too long, spots will fill up.

Pros & Cons of Working at a Tier 2 Consulting Firm

Tier 2 consulting firms offer excellent career opportunities for those interested in strategy, operations, and industry-specific consulting.

While they may not have the same level of prestige as MBB (McKinsey, BCG, Bain), they provide competitive salaries, high-impact projects, and strong exit opportunities. However, there are trade-offs, including slightly lower compensation, fewer global brand advantages, and differences in work-life balance.

Below is a breakdown of the key pros and cons of working at a Tier 2 consulting firm.

Pros of Tier 2 Consulting Firms

• Strong industry specialization, offering deep expertise in specific sectors
• Competitive salaries, often close to MBB, with solid benefits and bonuses
• Exposure to high-impact projects, including strategy, operations, and digital transformation
• More opportunities for early responsibility and leadership roles compared to MBB
• Balanced mix of strategy and implementation consulting, providing a broader skill set
• Slightly better work-life balance than MBB, depending on the firm and office location
• Strong exit opportunities into corporate strategy, private equity, and tech leadership roles
• Well-established alumni networks that provide career mobility across industries

Cons of Tier 2 Consulting Firms

• Less global brand recognition compared to McKinsey, BCG, and Bain
• Slightly lower salaries and bonuses than MBB, though still highly competitive
• Fewer opportunities to work on high-profile C-suite strategy projects
• Work-life balance can still be demanding, depending on the firm and client workload
• Less structured career advancement pathways in some Tier 2 firms compared to MBB
• Some firms have a narrower focus, limiting exposure to diverse industries and functions
• May require more networking for top-tier exit opportunities, such as private equity or hedge funds
• Clients may perceive Tier 2 firms as second-tier compared to MBB, impacting project prestige

Tier 2 consulting firms offer excellent career paths for those interested in strategy and industry-focused consulting. While they may not have the elite prestige of MBB, they provide top-tier training, strong compensation, and diverse career exits -- making them a great option for aspiring consultants.

Final Thoughts: Is a Tier 2 Consulting Firm Right for You?

Tier 2 consulting firms provide exceptional career growth, competitive pay, and strong exit opportunities, making them a great choice for those who don’t secure an MBB offer or prefer a slightly better work-life balance.

If you’re looking to build strategic thinking skills, work on high-impact projects, and position yourself for leadership roles, Tier 2 consulting firms can be an excellent stepping stone.

FAQs

Which are Tier 2 consulting firms?

• Tier 2 consulting firms are highly respected firms that offer top-quality consulting services but don’t have the same prestige or global reach as Tier 1 firms like McKinsey, BCG, and Bain. Common Tier 2 consulting firms include Deloitte Consulting, Accenture, KPMG, PwC, Oliver Wyman, EY (Ernst & Young), Roland Berger, and LEK Consulting. These firms often have strong reputations in specialized areas such as strategy, operations, technology, and financial consulting.

Is Deloitte Tier 2 or 3?

• Deloitte is considered a Tier 2 consulting firm. It is highly respected and offers a broad range of services, including strategy, operations, technology, and financial consulting. While it doesn’t have the same prestige as McKinsey, BCG, or Bain, it competes closely with them on various projects and is often considered a leader in technology and financial consulting.

What tier is McKinsey?

• McKinsey & Company is a Tier 1 consulting firm. It is part of the MBB firms (McKinsey, BCG, Bain) and is considered one of the most prestigious consulting firms in the world. McKinsey is known for its high-impact strategy projects, rigorous hiring process, and strong reputation across all industries.

What is a Tier 2 consulting firm?

• A Tier 2 consulting firm is a firm that provides high-quality consulting services but lacks the global reach, prestige, or salary levels of Tier 1 firms like McKinsey, BCG, and Bain. They include firms like Deloitte, Accenture, PwC, EY, Oliver Wyman, and Roland Berger. They are respected for their expertise in various industries and specialties such as technology, financial consulting, and operations.

Is Tier 2 better than Big 4?

• It depends on what you’re looking for. Tier 2 consulting firms like Oliver Wyman, LEK, and Roland Berger are often considered better than the Big 4 (Deloitte, PwC, EY, KPMG) in terms of prestige and compensation for strategy consulting. However, Big 4 firms excel in areas like audit, tax, financial advisory, and technology consulting. If you’re seeking broad experience and strong branding in specialized consulting services, the Big 4 can be a great choice. But if you want more strategy-focused work, a Tier 2 firm might be better.