In 1973, William Bain quit his job at BCG to begin his consultancy, Bain & Company. The majority of the key members of Bain's team went along with him to begin the new company. Bain & Company was established in 1973 in Bain's Beacon Hill apartment in Boston. Bain & Company's first set of clients were previous clients of BCG, including a couple of BCG's biggest clients, Texas Instruments and Black & Decker.
Predictably, Henderson accused Bain of client theft. However, this did nothing to stop the rapid growth of Bain & Company. In 1979, their first international office was established in London. Six years later, Bain & Company was officially incorporated. In 1986, they made up to $150 million in revenues.
In 1987, Bain & Company was regarded as one of the top four consultancies. In 2005, Bain owned the biggest market share for a private equity consulting firm. Fast forward to 2018, their Private Equity Group was triple the size of the second-largest Private Equity consulting firm. They are still waxing strong today.
Bain & Company is well-rooted in a result and performance-oriented work philosophy, which defines its organizational culture. This company is renowned for its ability to build great teams of employees who bond in and outside the office. They work hard but play hard as well.
They organize their own World Cup tournament as part of their extra-curricular activities. This yearly event is deeply rooted in the company's culture as it has been going on for more than three decades. Up to 25% of the company's global workforce meets in a single city to partake in sports and fun activities for some days. The senior staff members also act as mentors and guides to freshers and interns.