How BCG, Bain & the Consulting Industry Got Started

There's a great article in Bloomberg BusinessWeek that while several years old does a great job at discussing how the global strategy consulting industry got started, why Boston Consulting Group was founded, how Bain was a spinoff of BCG, and how Bain Capital was a spinoff of Bain.

Although the article's title focuses on tracing the business career of Mitt Romney, currently a US Senator from Utah and at the time this article was written was candidate for U.S. President, it ends up providing a history of how BCG, Bain and Bain Capital all came to be. (These were all firms where Romney worked.)

It's an insightful article in part because it provides helpful context in understanding how big business operated back then (as well as today) and how 20- and 30-year-old consultants back then implausibly influenced clients typically double their age.

The answer to that question from the 1970's is the same as it is today. Some things do not change, and those "things" are the exact same data-driven, analytical skills that I emphasize as being critical to passing the case interview and performing as a new consultant.

While I'm sure you've heard me emphasize these points countless times, it's useful to hear corroborating data points from former CEOs and Harvard Business School professors, and examples of how these skills were used in the last 40 years of U.S. business history.

In short, I tell you these skills are useful, this article gives you the background to fully appreciate why these skills are useful.(Note: The article begins by describing Mitt Romney's 2012 US presidential campaign, but by the middle of the first page discusses the history of the strategy consulting industry.)

Additional Resources

If you found this post useful, I suggest becoming a registered member (it's free) to get access to the materials I used to pass 60 out of 61 case interviews, land 7 job offers, and end up working at McKinsey.

Members get access to 6 hours of video tutorials on case interviews, the actual frameworks I used to pass my interviews, and over 500 articles on case interviews.

To get access to these free resources, just fill out the form below:

First Name *
Email *

This form collects your name and email so that we can send you login information for the free materials you requested. If you check the Yes button we also will add you to our email list. Check out our Privacy Policy below for details on how we protect and manage your submitted data.

Read Our Privacy Policy

0 comments… add one

Leave a Comment