Tier 2 Consulting Firms: A Complete Guide to Careers and Growth

Tier 2 consulting firms are an important part of the consulting world, offering specialized services to clients across industries and regions. While they might not have the same global fame as Tier 1 firms like McKinsey, Bain, or BCG, they still pack a punch in providing high-quality advice and tailored solutions. If you're looking to explore a career in consulting or are curious about how these firms fit into the industry, you’re in the right place!

In this article, we’ll dive into what makes Tier 2 firms stand out, how they compare to the big names like MBB, and what working at one of these firms might be like. Whether you're aiming to work at a Tier 2 firm or simply want to understand how they operate, we’ve got you covered.

What Are Tier 2 Consulting Firms?

Definition and Classification

So, what exactly are Tier 2 consulting firms? In simple terms, they are often considered the "middle players" in the consulting world. They are generally smaller than Tier 1 firms, such as McKinsey, Bain, and BCG, but larger than boutique consultancies. These firms have a well-established presence in the market and offer valuable services to a variety of clients, including both large corporations and smaller, niche businesses.

The key difference between Tier 1 and Tier 2 firms comes down to their global recognition, client base, and the types of projects they typically handle. While Tier 1 firms often land the highest-profile, complex projects with global giants, Tier 2 firms focus more on mid-sized companies or specific industries, delivering specialized expertise.

Some examples of well-known Tier 2 firms include Deloitte, Accenture, LEK Consulting, and Oliver Wyman. These firms excel in areas like management consulting, operations, technology, and digital transformation. While they may not have the same fame as the MBB firms, they still offer solid opportunities for those who want to dive deep into specific industries or work with diverse clients.

Characteristics of Tier 2 Consulting Firms

Now that you have a sense of what Tier 2 firms are, let’s break down what makes them unique and what you can expect when considering them as a career option.

Size and Global Presence

Tier 2 firms are usually larger than boutique firms but not as massive as the Tier 1 giants. They often have a strong presence in major cities across the globe, but their reach might be more regionally focused compared to the worldwide operations of McKinsey, Bain, or BCG. For instance, firms like Accenture and Deloitte have a global footprint, but they also cater to more specialized industries and offer additional services, such as IT consulting and technology solutions.

While you may not find Tier 2 firms in every corner of the world, they do have a solid impact in the markets they serve, particularly in industries like healthcare, energy, finance, and technology. So, if you’re looking to work at a firm with a broad yet specialized presence, Tier 2 firms can offer exciting opportunities.

Service Offerings

When it comes to services, Tier 2 firms offer a wide variety, although they may not cover the full spectrum of management consulting like the biggest names in the industry. Some key services include:

• Strategy Consulting: Helping companies define their overall direction and market strategy.
• Operations Consulting: Streamlining operations and improving efficiency, particularly in areas like supply chain management.
• Technology Consulting: Supporting businesses in digital transformation and the implementation of new IT systems.
• Human Capital Consulting: Focusing on leadership, training, and organizational development.

What sets Tier 2 firms apart is their ability to focus on specific industries, often offering deeper expertise in certain sectors. For instance, firms like LEK Consulting and Oliver Wyman specialize in healthcare and finance, providing in-depth knowledge that can really make a difference to their clients.

Clientele

Tier 2 firms work with a diverse range of clients, from mid-sized businesses to large corporations, government agencies, and non-profits. While their clients may not always be the household names you associate with Tier 1 firms, they still serve impressive companies that rely on specialized advice to grow and thrive.

For example, LEK Consulting and Oliver Wyman are known for their expertise in industries like healthcare and finance, working with both global giants and regional players who need detailed industry knowledge. The fact that these firms often specialize in certain sectors means you’ll get the chance to dive deep into a particular industry, which can be incredibly rewarding if that’s your area of interest.

Notable Tier 2 Consulting Firms and Their Work

While Tier 2 consulting firms may not always get the same level of recognition as the giants like McKinsey or BCG, they still play a vital role in the consulting industry. These firms offer specialized expertise, tackle complex problems, and deliver high-quality solutions to clients across various industries. In this section, we’ll take a look at eight prominent Tier 2 firms: Deloitte, Strategy& (PwC), LEK Consulting, Oliver Wyman, EY-Parthenon, Accenture, Kearney, and Roland Berger.

By the end of this section, you’ll have a clearer idea of what makes each firm unique, the areas they excel in, and some of the major projects they’ve been involved with.

Deloitte

Overview
 Deloitte is one of the largest consulting firms globally, offering a broad range of services, including strategy, operations, technology, and human capital. Since its founding in 1845, Deloitte has earned a strong reputation for helping organizations navigate complex challenges and drive innovation.

Key Focus Areas
 Deloitte excels in digital transformation, technology consulting, and human capital management. They’re especially known for helping businesses adopt cutting-edge technologies and improve their operational efficiency.

Notable Projects
 For example, Deloitte has worked with large financial institutions to integrate advanced risk management systems. In the healthcare space, they’ve helped hospitals implement systems that improve patient care while reducing costs.

Strategy& (PwC)

Overview
 Strategy& is PwC’s strategy consulting arm, known for its deep expertise in business strategy. Formerly Booz & Company, the firm has a long history of providing top-tier strategic advice to global companies, governments, and non-profits.

Key Focus Areas
 Strategy& specializes in business strategy, mergers and acquisitions, and operations consulting. They help organizations navigate strategic challenges and improve their business models.

Notable Projects
 One notable project involved advising a global pharmaceutical company on a major merger. The firm has also helped governments implement large-scale economic reforms, using their expertise in market dynamics and competitive strategy.

LEK Consulting

Overview
 LEK Consulting is a global strategy consulting firm known for its data-driven approach to problem-solving. Since 1983, the firm has built a solid reputation for delivering actionable insights to clients across a wide variety of industries.

Key Focus Areas
 LEK focuses on market strategy, mergers and acquisitions, and industry-specific consulting. They are particularly respected in healthcare, energy, and consumer goods.

Notable Projects
 LEK has worked with pharmaceutical companies to optimize their market strategies and helped energy firms develop growth strategies in the renewable energy sector.

Oliver Wyman

Overview
 Oliver Wyman is a global consulting firm that specializes in financial services and risk management. Known for its in-depth industry knowledge, Oliver Wyman helps companies tackle their most complex challenges.

Key Focus Areas
 While Oliver Wyman is known for its work in financial services, the firm also serves clients in healthcare, energy, and transportation. They focus on improving operational efficiency and reducing risk.

Notable Projects
 The firm has advised major financial institutions on risk management and portfolio optimization. They’ve also helped transportation companies navigate market disruptions brought on by new technologies.

EY-Parthenon

Overview
 EY-Parthenon is the strategy consulting arm of Ernst & Young, providing high-impact consulting services that help businesses drive growth and profitability. With a strong presence in corporate and private equity consulting, the firm is known for its deep insights into market dynamics.

Key Focus Areas
 EY-Parthenon focuses on corporate strategy, mergers and acquisitions, and private equity consulting. The firm is known for providing the strategic advice companies need to make critical business decisions.

Notable Projects
 EY-Parthenon has worked with private equity firms on acquisitions, offering in-depth financial analysis to guide investment decisions. They’ve also helped large corporations with post-merger integration, maximizing synergies and value creation.

Accenture

Overview
 Accenture is a global consulting giant known for its work in technology consulting. Since separating from Arthur Andersen in 1989, Accenture has grown into a leader in helping businesses innovate through digital transformation.

Key Focus Areas
 Accenture specializes in cloud computing, AI, and enterprise IT solutions. The firm helps businesses modernize their IT infrastructure and create new business models to stay competitive.

Notable Projects
 Accenture has helped retailers implement AI-driven systems to optimize their supply chains. They’ve also worked with government agencies to transform their IT systems and improve public services.

Kearney

Overview
 Kearney is a global management consulting firm that focuses on business strategy, operations consulting, and supply chain optimization. The firm works with a diverse set of clients, from Fortune 500 companies to startups.

Key Focus Areas
 Kearney is known for its expertise in supply chain management and operational efficiency. They help companies streamline operations and enhance their supply chain resilience.

Notable Projects
 Kearney has helped global manufacturers optimize their supply chains and reduce costs. They’ve also worked with energy companies to improve their operational processes, focusing on both efficiency and sustainability.

Roland Berger

Overview
 Roland Berger is a global strategy consulting firm that specializes in corporate strategy and digital transformation. Founded in 1967, Roland Berger is known for its deep expertise in helping businesses adapt to changing market conditions.

Key Focus Areas
 Roland Berger’s expertise lies in strategy consulting, corporate restructuring, and digital transformation. The firm helps companies improve their business strategy and implement sustainable growth models.

Notable Projects
 Roland Berger has worked with leading automotive companies to transition to electric vehicles. They’ve also provided advice to energy firms on sustainability strategies, helping them navigate regulatory changes and adapt to new environmental standards.

These Tier 2 consulting firms—Deloitte, Strategy&, LEK Consulting, Oliver Wyman, EY-Parthenon, Accenture, Kearney, and Roland Berger—are all experts in their fields, offering specialized services that drive innovation and solve complex problems. If you’re considering a career in consulting, these firms provide exciting opportunities to work on high-impact projects that shape industries and make a real difference.

Next, we’ll take a look at the benefits and challenges of working at Tier 2 consulting firms, including the career growth opportunities and the competitive nature of the industry.

Working at Tier 2 Consulting Firms: Benefits and Challenges

If you're considering a career at a Tier 2 consulting firm, it’s important to weigh both the perks and the potential challenges. These firms offer unique opportunities, but there are also some hurdles you might face along the way. Let’s break it down, so you can make an informed decision about whether a Tier 2 consulting firm is the right fit for you.

Pros of Working at Tier 2 Consulting Firms

Specialized Expertise

One of the biggest advantages of working at a Tier 2 consulting firm is the chance to dive deep into a specific industry or service area. While Tier 1 firms are known for their broad consulting approaches, many Tier 2 firms focus on specialized sectors, such as healthcare, energy, or financial services. This means that, in your role, you’ll likely become an expert in that field, which can be incredibly rewarding if you enjoy tackling complex industry-specific challenges.

For example, at firms like LEK Consulting or Oliver Wyman, you could focus on industries like healthcare or finance, giving you the chance to really master the ins and outs of a particular sector and provide high-level strategic advice to clients.

Exposure to Diverse Clients and Projects

Another major perk of working at a Tier 2 firm is the variety of clients you’ll get to work with. These firms often serve both large corporations and mid-market companies, so you’ll experience a wide range of projects, each with its own set of unique challenges. This diversity allows you to build a versatile skill set that prepares you for a wide array of roles and industries in the future.

If you're interested in gaining experience across different business models, companies like Deloitte and Accenture serve clients in technology, healthcare, and consumer goods, offering you a chance to work on diverse, high-impact projects.

Better Work-Life Balance

Compared to the high-pressure environment of Tier 1 firms, many Tier 2 firms offer a better work-life balance. While consulting is never a 9-to-5 job, you may find that Tier 2 firms generally have a less intense "always-on" culture. Many of these firms offer more flexibility when it comes to working hours and the possibility of remote work, which means you could have an easier time balancing your career with personal commitments.

If work-life balance is a top priority for you, Tier 2 firms can offer a more manageable lifestyle without sacrificing the opportunity to work on challenging projects.

Cons of Working at Tier 2 Consulting Firms

Lower Brand Recognition

One of the challenges of working at a Tier 2 firm is the lower brand recognition compared to the Tier 1 firms. While firms like Kearney and Roland Berger are highly respected within the industry, they don't carry the same weight as McKinsey, Bain, or BCG in terms of global prestige. This might affect your career, especially if you’re looking to move into a different firm or industry where name recognition is a big factor.

For example, if you're looking to transition to a different consulting firm or pursue opportunities outside of consulting, the lack of immediate brand recognition can sometimes make the process a little more challenging. However, the value of your experience at a Tier 2 firm is undeniable, and it’s all about leveraging the unique skills and knowledge you gain.

Fewer Resources and Support

Another consideration is that Tier 2 firms generally have fewer resources compared to their Tier 1 counterparts. While you’ll still get to work on high-impact projects, you might have less access to extensive research teams or large-scale support systems. This means you could find yourself taking on more responsibilities or having to be more resourceful to solve problems.

However, this can also be an opportunity for growth. At firms like EY-Parthenon or Strategy& (PwC), the slightly smaller teams might require you to step up and take on a variety of roles, which can help you build a broader skill set and gain more responsibility early in your career.

Career Pathways and Professional Growth

Working at a Tier 2 consulting firm can offer you a lot of growth opportunities, both professionally and personally. While the perks may be slightly different from the big players like MBB, these firms provide great chances for career development, skill-building, and exposure to diverse industries. Let’s explore the career development options, training, mentorship, and compensation you can expect when working at one of these firms.

Opportunities for Career Development

Training and Mentorship

One of the biggest draws of Tier 2 firms is the investment they make in your professional growth. When you join, you’ll typically go through formal training programs, which might cover everything from project management to specific industry tools. You'll also have opportunities to gain specialized certifications, all of which will help you grow your expertise and skill set.

You’ll also find that mentorship is a big part of the experience. With fewer people in each team compared to larger firms, you’ll often have more access to senior leaders and mentors who can guide you through your career path. This kind of close-knit mentorship gives you personalized advice and insight into how to progress, which can be invaluable as you move up the ranks.

Career Progression and Exit Opportunities

One of the benefits of working at a Tier 2 consulting firm is the potential for faster career progression. With smaller teams, you often have the chance to take on more responsibility earlier in your career, allowing you to grow into leadership roles quicker. Many Tier 2 firms prioritize promoting from within, which can give you an advantage if you’re looking to take on more significant challenges.

Another exciting aspect is the flexibility in exit opportunities. The consulting experience you gain—especially in areas like strategy, operations, and technology—gives you a solid foundation for transitioning to other industries. Whether you’re looking to move into private equity, corporate strategy, or a senior leadership role in a specific industry, the skills you develop at Tier 2 firms make these transitions smooth. For example, consultants from firms like EY-Parthenon or Strategy& (PwC) often move into high-paying roles in private equity or venture capital, thanks to the expertise they gain in handling complex business challenges.

Compensation: What to Expect

Salary Ranges

In terms of compensation, Tier 2 consulting firms are competitive, though they tend to offer slightly lower salaries compared to MBB firms. Here’s a general breakdown of what you can expect:

• Entry-Level (Analyst/Associate): Typically, starting salaries range from $70,000 to $100,000, depending on the firm and location.
• Consultant/Senior Consultant: With a few years of experience, you can expect salaries between $100,000 and $150,000.
• Manager/Project Leader: In more senior roles, salaries generally range from $150,000 to $200,000+.
• Partner/Principal: At the partner level, compensation can reach well over $250,000, including bonuses and profit-sharing.

While these figures might not be as high as what you’d find at MBB firms, Tier 2 firms still offer strong earning potential, and the career progression can help you reach these levels quickly as you advance.

Benefits and Comparison to MBB and Big 4

Tier 2 firms also offer competitive benefits, including health insurance, retirement contributions, performance bonuses, and perks like flexible work arrangements, paid time off, and opportunities for professional development. These benefits are solid and competitive, but may not be as extensive as what’s offered by MBB or the Big 4.

When comparing compensation to MBB and Big 4 firms, it’s important to remember that while the salary packages at Tier 2 firms might be a bit lower, you’re likely to experience a more balanced work-life environment. If you value having a fulfilling career while also maintaining a healthy work-life balance, Tier 2 firms can offer a great middle ground. You’ll still work on challenging and rewarding projects but with less of the intense pressure and longer hours typical of the larger firms.

Recruitment, Hiring Process, and What Tier 2 Firms Look For

If you’re aiming to land a role at a Tier 2 consulting firm, it’s essential to understand the steps involved in the recruitment process and what firms are looking for in candidates. The hiring process is typically structured, but each firm might have slight variations. In this section, we’ll walk you through the process and help you get a clear picture of what to expect and what Tier 2 firms value in applicants.

Application Process

1. Resume Submission

Your journey starts with submitting a resume. This is your first opportunity to make a good impression, so it’s important to highlight your academic achievements, relevant work experience, and skills. Tailor your resume to emphasize your ability to solve problems, think analytically, and lead teams—these are qualities consulting firms look for in every candidate.

Tip: Focus on showcasing any internships, leadership roles, or projects that relate directly to consulting. The more you can demonstrate experience that mirrors the consulting world, the better.

2. Screening and Initial Interview

Once your resume makes it past the first review, you'll be invited to an initial interview, which is typically done over the phone or via video. This is your chance to shine by explaining why you’re interested in consulting, why you’ve chosen that particular firm, and how your background aligns with their needs. Recruiters will also want to gauge how well you communicate and whether you’re a good fit for the firm’s culture.

Tip: Do your homework on the firm! Understanding their values, projects, and culture will show you’re genuinely interested in working with them, not just any consulting firm.

3. Case Study Interviews

This is where it gets interesting: the case study interview. Consulting firms use case studies to assess your problem-solving skills, analytical thinking, and how you approach complex challenges. You’ll be given a business problem to solve, and you’ll need to think critically, structure your thoughts clearly, and present your solution.

Be ready to walk through your thought process and justify your recommendations. You might also be asked to crunch some numbers or solve a market-sizing problem, depending on the firm’s approach.

Tip: Practice as many case studies as you can. Use resources available online, and consider working with a peer or mentor to simulate real interview scenarios. The more you practice, the more confident you’ll feel.

4. Final Round: Fit Interviews

If you impress them in the case study round, you’ll be invited for a final interview. This is typically more about assessing cultural fit, interpersonal skills, and leadership potential. Expect behavioral questions where you’ll be asked to share examples of past experiences—particularly situations where you worked as part of a team, led a project, or overcame a challenge.

Tip: Use the STAR method (Situation, Task, Action, Result) to structure your responses. Be specific about how you handled challenges and how your actions made a difference. This will show that you have the leadership and problem-solving qualities they value.

Candidate Profile: What Tier 2 Firms Look For

Tier 2 firms are looking for candidates who are not only academically strong but also possess the right skills and mindset for consulting. Here’s a breakdown of what they prioritize when reviewing candidates:

Qualifications and Academic Background

• Strong Academic Performance: A good academic record is important, but it’s not just about having a high GPA. Firms want to see that you can excel in challenging environments and handle the intellectual demands of consulting.
• Relevant Degree: While firms hire candidates from all kinds of educational backgrounds, degrees in fields like business, economics, engineering, or other analytical disciplines tend to be most relevant for consulting roles.

Key Skills

• Analytical Thinking: Consulting is all about solving complex problems. Tier 2 firms look for candidates who can think critically, break down problems into manageable parts, and come up with clear solutions.
• Communication Skills: Whether you’re explaining your case study solution or presenting ideas to clients, being able to communicate clearly and persuasively is a must.
• Leadership and Teamwork: Firms want candidates who can lead teams, collaborate effectively, and influence others. Whether through school projects, work experience, or extracurriculars, showing that you’ve demonstrated leadership will set you apart.
• Time Management: Consulting involves juggling multiple tasks and deadlines. Showing that you can prioritize effectively and meet deadlines is essential.

Relevant Experience

• Consulting Experience: Previous experience in consulting or related fields, like market research or business analysis, is a plus. It shows you already have some understanding of what the job entails.
• Extracurricular Activities: Active involvement in leadership roles or clubs is important because it shows initiative, teamwork, and commitment—qualities that firms value highly.
• Problem-Solving Experience: Any work or academic experience that showcases your ability to analyze and solve problems will stand out. Firms want to know that you’ve applied your analytical skills in real-world situations.

By understanding the recruitment process and knowing what Tier 2 firms look for, you can tailor your approach and make a strong impression. Whether it’s through the case study interview or demonstrating your leadership potential, each step in the process gives you an opportunity to showcase your abilities.

Industry Trends, Challenges, and the Future Outlook for Tier 2 Firms

Tier 2 consulting firms are navigating an exciting and challenging landscape. As the consulting industry evolves, these firms are positioning themselves to take advantage of new opportunities while also adapting to emerging trends and challenges. In this section, we’ll explore the current trends shaping Tier 2 firms, the hurdles they face, and what the future might hold for these firms.

Current Trends: The Evolving Role of Tier 2 Firms

Tier 2 consulting firms are making strides in expanding their role within the industry. These firms are focusing on offering specialized expertise and personalized services—advantages that allow them to stand out in a crowded market.

One key trend driving growth is digital transformation. As businesses look to modernize and adopt new technologies, Tier 2 firms are stepping up to help clients navigate this shift. Firms like Accenture and Deloitte are investing in cutting-edge technologies such as AI, cloud computing, and data analytics, which allow them to offer clients innovative solutions. By focusing on these digital tools, Tier 2 firms are carving out a space as leaders in the digital consulting space.

Another growing trend is industry specialization. While Tier 1 firms are known for their broad consulting offerings, Tier 2 firms are becoming experts in specific sectors like healthcare, energy, and financial services. This specialization gives them a competitive edge by allowing them to provide deeper, more tailored insights to clients. Firms like LEK Consulting and Oliver Wyman are examples of firms that have successfully become trusted advisors in these specialized areas.

Finally, Tier 2 firms are expanding their reach into emerging markets. As businesses grow in regions like Asia, Africa, and Latin America, Tier 2 firms are seizing the opportunity to offer their services to these fast-developing markets. By providing personalized services and adapting to local needs, these firms are helping shape the future of consulting in these regions.

Challenges and Future Growth

While Tier 2 firms are evolving and expanding, they still face several challenges. Let’s dive into some of these hurdles and how they might impact the future growth of these firms.

1. Digital Transformation and Technology Integration

Technology is at the heart of the consulting industry’s future, and Tier 2 firms must continually invest in it to stay competitive. However, adopting new technologies—especially ones like AI and machine learning—requires significant resources. Smaller firms may not have the same financial power as the big players, making it harder to keep up with these costly innovations.

That said, digital transformation also represents a huge opportunity. By mastering new technologies and offering specialized digital consulting services, Tier 2 firms can differentiate themselves and become indispensable partners to clients going through their own transformation processes.

2. Increasing Competition

The competition within the consulting industry is growing, with not only large Tier 1 firms but also boutique consultancies and independent consultants entering the space. Tier 2 firms must find ways to stand out by emphasizing their unique strengths—whether it's deep industry knowledge, faster turnaround times, or more personalized service.

Tier 2 firms can leverage their specialized focus to build strong relationships with clients and offer unique solutions that may not be available at larger firms. The key will be distinguishing themselves in a way that emphasizes their personalized, niche expertise.

3. Changing Client Expectations

Clients today are more demanding than ever before. They expect faster, more efficient solutions and want consulting firms to help them achieve long-term transformation—not just provide recommendations. As clients continue to focus on results and ROI, Tier 2 firms must adapt to deliver on these expectations while maintaining the quality of their services.

The firms that will thrive are those that understand their clients’ unique needs and deliver actionable, sustainable solutions that drive growth and efficiency. This requires ongoing innovation and a commitment to keeping clients’ best interests at the forefront of all projects.

4. Talent Acquisition and Retention

Attracting and retaining top talent is a challenge for Tier 2 firms, especially as competition from larger firms and freelance consultants intensifies. While Tier 2 firms offer great opportunities for career growth, they must ensure that they offer competitive compensation, career development programs, and work-life balance to keep top talent engaged.

Firms that prioritize mentorship, professional growth, and work flexibility will have an edge in recruiting the best and brightest consultants, ensuring that they remain competitive in the industry.

Future Growth and Opportunities

Looking forward, Tier 2 firms have significant opportunities for growth. As the consulting industry continues to evolve, Tier 2 firms are well-positioned to take advantage of emerging trends.

For one, sustainability consulting is on the rise. As more companies commit to meeting environmental, social, and governance (ESG) goals, Tier 2 firms with expertise in sustainable practices will be in high demand. Firms that position themselves as leaders in sustainability can help businesses navigate the challenges of environmental responsibility and regulatory compliance.

Another area of growth lies in the continued digital transformation of businesses. As organizations increasingly rely on AI, cloud technologies, and data analytics, Tier 2 firms that specialize in these areas will have an edge. By strengthening their technology practices and continuing to innovate, Tier 2 firms can maintain their competitive advantage.

Finally, Tier 2 firms can continue to grow by expanding into emerging markets. As global business activity shifts toward Asia, Africa, and Latin America, these regions offer exciting opportunities for consulting firms to gain new clients and develop localized solutions.

In conclusion, Tier 2 firms are well-positioned to thrive in the evolving consulting landscape. By staying on top of digital transformation, industry specialization, and expanding into emerging markets, they can continue to grow and expand their influence. As challenges like competition and changing client expectations arise, the firms that can adapt and innovate will have the opportunity to lead the industry into the future.