McKinsey vs Oliver Wyman: MBB vs Boutique Strategy
Updated January 2026·10 min read
Head-to-Head: McKinsey vs Oliver Wyman
9/10
Interview Difficulty
8/10
5/10
Work-Life Balance
6/10
10/10
Compensation
8/10
10/10
Prestige
7/10
10/10
Exit Opportunities
8/10
McKinseyOliver Wyman
Quick Summary
Both McKinsey & Company and Oliver Wyman are excellent consulting firms with strong reputations. McKinsey is known for generalist strategy interests, while Oliver Wyman excels at financial services focus. Your choice should depend on your career goals, preferred working style, and cultural fit.
Detailed Comparison: McKinsey vs Oliver Wyman
| Category | McKinsey | Oliver Wyman |
|---|---|---|
| Market Position | MBB gold standard | Top-tier boutique, FS specialist |
| Specialization | Generalist across industries | Financial services, actuarial, risk |
| Interview Style | Interviewer-led, PEI | Candidate-led, math-heavy |
| Compensation | Industry-leading | 10-15% below McKinsey |
| Quantitative Rigor | Balanced approach | Known for math intensity |
| Exit Paths | Broadest options | Strong in FS, risk, actuarial |
Key Takeaways
- Market Position: McKinsey for brand; OW for FS focus
- Specialization: OW for deep FS expertise
- Interview Style: OW cases more quantitative
- Compensation: McKinsey pays more
Who Should Choose Which?
Choose McKinsey if you...
- ✓Generalist strategy interests
- ✓Maximum brand value
- ✓Broad exit optionality
Choose Oliver Wyman if you...
- ✓Financial services focus
- ✓Quantitative personalities
- ✓Risk/actuarial interests
Interview Process Comparison
McKinsey Interview Process
- • Online assessment/screening
- • 2-3 rounds of case interviews
- • Behavioral/fit interviews
- • Final round with partners
Oliver Wyman Interview Process
- • Online assessment/screening
- • 2-3 rounds of case interviews
- • Behavioral/fit interviews
- • Final round with partners
Prepare for Both McKinsey and Oliver Wyman
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Start PracticingFrequently Asked Questions
Is Oliver Wyman considered MBB-level?
No, but it's top-tier boutique. OW is respected, especially in financial services, but sits below MBB in overall prestige. For FS careers specifically, OW brand is strong.
Are Oliver Wyman cases harder than McKinsey?
OW cases are often more math-intensive but not necessarily harder. McKinsey's interviewer-led format and PEI have their own challenges. Different difficult, not more difficult.
McKinsey or Oliver Wyman for banking exits?
Oliver Wyman is surprisingly competitive for banking, given its FS focus. McKinsey brand opens all doors, but OW's specialized reputation is valued in FS recruiting specifically.
How much less does Oliver Wyman pay?
Approximately 10-15% less than McKinsey at comparable levels. The gap is real but smaller than other boutiques. OW is among the best-paying non-MBB firms.