The Best MBA Programs in the world for Consulting

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Our 2024 Top Consulting MBA list offers insights into the best programs for aspiring consultants. To compile our list of top MBA programs that excel in preparing students for careers in consulting, we analyze industry-wide data and the correlation between specific programs and placement in MBB firms (either using the schools’ own data and/or external data sources like LinkedIn) . Our rankings include only MBA programs that are targeted by all three MBB firms, ensuring relevance and precision for prospective consulting professionals.

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Top MBA For Consulting

School Placement MBB Placement Average (Median *) Salary
INSEAD 61% 278 (28%) EUR 118,200
IESE Business School 47% Withheld € 108,100
IIM Ahmedabad 46.5% 67 (18%) | excl. Bain INR 27,43,410
University of Virginia: Darden 46.3% Withheld US$ 182,123
Dartmouth College: Tuck 46% Withheld US$ 190,000*
LBS 45% 136 (26%) £ 104,427
University of Michigan: Ross 44.9% 72 (21%) US$ 181,895
Yale SOM 44.2% Withheld US$ 190,000*
Duke University: Fuqua 43% 83 (21%) US$ 190,000*
Cornell University: Johnson 42% Withheld US$ 177,592
Northwestern University: Kellogg 42% 117 (23%) US$ 181,638
New York University: Stern 41.9% 49 (13.8%) US$ 178,967
IIM Bangalore 40% 74 (14%) INR 33,00,000
University of Chicago: Booth 38.6% 153 (29%) US$ 192,000*
HEC Paris 37% Withheld US$ 133,597
Columbia Business School 36.3% 146 (18%) US$ 190,000*
MIT: Sloan 33.7% 74 (16.5%) US$ 180,036
University of Oxford: Saïd 31.9% Withheld N/A
Indian School of Business 31% Withheld INR 35,57,509*
Wharton 28.8% Withheld US$ 190,000*
UC Berkeley: Haas 28.1% Withheld US$ 182,110
UCLA: Anderson 27.7% Withheld US$ 176,325
University of Cambridge: Judge 27% Withheld N/A
Harvard Business School 25% Withheld US$ 192,000*
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Consulting is a popular career choice for MBA graduates.  

Since the early 1960s, MBA graduates have increasingly pursued careers in consulting, making the MBA and consulting fields deeply interconnected.  The role of a consultant allows them to leverage the extensive knowledge and diverse skills acquired during their MBA program across various industries and business challenges. With their strong background in business fundamentals and problem-solving, MBA graduates are well-equipped to thrive in the dynamic field of management consulting, where these capabilities are essential for success.

Accelerated Career Growth and Exceptional Exit Opportunities in Consulting

Top-tier management consulting firms such as McKinsey, BCG, and Bain provide MBA graduates with a dynamic career trajectory, typically allowing ambitious professionals to advance to Partner level within six to eight years. This rapid progression contrasts sharply with more traditional corporate ladders, offering a swifter ascent to senior leadership roles. Moreover, consultants often exit the profession with a comprehensive portfolio of transferable skills and broad experience, equipping them to thrive in diverse roles across various industries and functions. This versatility opens up a wealth of senior executive-level opportunities outside of consulting, making a career in top consulting firms a strategically advantageous choice for MBA graduates aiming for high-impact roles in major corporations.

High Earnings for MBA Graduates

MBA graduates enjoy generous compensation packages. Consulting is one of the highest-paid post-MBA exits, and the median total compensation for a consultant at McKinsey, BCG, Bain, or other top-tier consulting firm is around U$220,000, including a US$30,000 sign-on bonus, which can be used as a tax-deductible tuition reimbursement. MBA hires can also expect rapid career progression, with the opportunity to be promoted to Engagement Manager – a role of significant responsibility – within just two years.

A competitive recruitment process

The MBB MBA recruiting process is highly intense and competitive, involving multiple on-campus events like coffee chats and dinners at target schools. After these preliminary events, MBB firms conduct in-person interviews during specific times. Candidates from top schools are expected to demonstrate exceptional polish and strong business acumen. The recruitment timeline is usually tight and structured, with internship applications due in November and interviews in January in the first year of your MBA. Second-year MBAs reapplying typically face interviews in August or September.

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