Top 10 Consulting Firms In Toronto
1. McKinsey & Company
Yes, the great McKinsey has its headquarters in New York, located at 55 E 52nd St on the 21st Floor. Founded in 1926, McKinsey now has its largest global office in New York with more than 500 consultants. The current staff are connected with more than 3000 alumni in the melting pot city area who are business founders and CEOs. The office is incredibly diverse, with some of the best talent from 35+ countries and folks that speak 29 languages.
In the Toronto office, the industries McKinsey caters to are financial services, healthcare services, advanced electronics, aerospace and defense, and TMT (technology, media, and telecommunications).
In Toronto, McKinsey’s presence is way stronger than the other Big 3 – which is why they win our #1 spot in GTA. The culture is really crisp with very intelligent people around; in fact, some of the “best” longest-standing McKinseyites in the world are in GTA and McKinsey has significant support staff in the office as well.
Compensation and benefits are on par to the market, but not adjusted for GTA living . As usual getting into McKinsey is tough, but it’s even tougher in GTA – with many target recruiting schools nearby and hundreds of aspirants swarming to locate in Toronto, it’s a highly competitive office.
BCG has a strong presence in GTA – almost as strong as McKinsey.
Some of the major practice areas that the GTA region focuses on are corporate development, corporate finance, digital economy, globalization, growth, information technology, marketing & sales operations, people and organization, post-merger integration, risk management, strategy, sustainability, and transformation.
Compensation is on-par with the top players in the market, but hours are long and hard. Overall though, BCG GTA is an amazing place to work.
3. Deloitte Consulting
The global behemoth, Deloitte Consulting, is headquartered in New York. Deloitte’s offices in Toronto have over 2,000 professionals in Audit, Advisory, Financial Advisory Services, Tax, and Consulting – so not all in consulting, but almost a city inside a city!
The Toronto office is known to have a large diversity pool, although it’s a heavy-hitting office; most of Deloitte’s top leaders work out of the Toronto office. Deloitte is big on community service, and in GTA they have a famous National Leadership Conference day where they invite~100 university students spread out across Canada.
PwC, another shining star in Toronto. The functions and services the Toronto office is involved in are cyber security, consulting, financial services, International tax, and advisory.
The employees have a decent work-life balance and get to work with some of the creme de la creme of PwC – like Deloitte, the big brass hang out in the Toronto offices.
The work culture at PwC is quite innovative. The office environment can be quiet friendly. PwC does offer great flexibility – their vacation and holiday policies are very good. The Toronto office skews young – staff members are heavily junior.
5. Bain & Company
Bain, one of the world’s most prestigious consulting firms, was founded in 1973.
Bain is a big revenue generating firm, this office also has a huge pro bono case practice area. They provide free consulting services for not-for-profit organizations every year.
Bainies in Toronto work to support their clients on nearly every industry and across all ranges. The teams are comprised of enthusiastic, intelligent, outgoing and dynamic people from all walks of life. In the Toronto office, they are open to hiring into Associate Consultant and Consultant full-time positions from top tier universities and leading business schools.
Their summer internship programs are open to both first year MBA students as well as undergraduate students, and the office has recently begun focusing extensively on APD recruiting as well.
6. EY Consulting
EY is the world’s 2nd largest accounting firm, but is not as strong in consulting – however, for two decades, the firm has served various financial institutions and other organizations with diligence efforts.
Before the acquisition of Parthenon, consulting at EY was really synonymous to Advisory (not strategy). Some of the major Advisory practice areas this office is involved in include: Performance Improvement, Risk, and IT. Parthenon brings in a new flavor, but actual integration is still a bit up in the air.
We’ve heard that the atmosphere at EY is far better than Deloitte – more collegial and focused on personal development, although skills training is not usually as strong. Recently, new things are happening in the SAP consulting side – if you are big on that, then it’s the right place to be now and also likely for at least the next couple of years.
Accenture is technically headquartered in Chicago. The main industries served out of GTA include Public Services, Products, and not surprisingly, the Financial Industry.
Their functional areas are analytics, high-end information technology, BPO, healthcare, marketing & sales, media & communication, finance & risk, cyber security & financial services.
The employees have never-ending career opportunities, a great atmosphere in which to work with colleagues (including many tech geniuses), great benefits and the compensation is competitive. However, the GTA office is not for those who do not want to work – this is a place where tons of work is distributed in the states, and work-life balance is a challenge – so go young, work hard, and move on!
Like EY, KPMG has called practice areas consulting that aren’t really pure consulting in the way the rest of the strategy and management industry thinks about it. Heck – you could call tax advice “consulting” if you really wanted to. Therefore, they got demoted on our overall list.
The functional areas focused at the Toronto office is tax, regulatory, audit, advisory, financial services, and technology.
The Toronto office offers a great place to start a career; there is a great training system and great working environment. However, the pay is not great compared to other offices and the number of managers available to invest in your career are limited.
9. Strategy & (formerly Booz)
PwC acquired Booz in 2014 and later on rename the company as Strategy&. Booz is over 100 years old consulting firm, which offers a dynamic number of services but focuses specifically on Cybersecurity, Information Technology, Modeling & Simulation, Organization & Strategy, and Systems Engineering & Integration.
In short, it’s a pretty back-end focused office with a lot of technical people working there. The office sponsors typically lively extracurricular entertainment and has food and beverages galore at its events, but is known for high utilization, lots of work, and relatively okay pay for Toronto compared to MBB.
10. IBM Global Business Services
Welcome to old school IBM: IBM Global Business Services. It is focused on the key practice areas of IT infrastructure, analytics, mobile, customer service, cloud computing, and security. It’s a highly technical office, and strategy work you do will largely be diagnostic – pre-sales to IBM’s implementation services.