10 Best MBA Programs for Consulting Careers in 2024

Last Updated on January 10, 2024 by Robert C. Hoopes

Title: Consulting Continues to Dominate as the Preferred Career Path for MBA Graduates

Consulting remains the top choice for MBA graduates seeking a rewarding career, as revealed by the latest data from Bloomberg. The study, which analyzed top business schools’ hiring trends in 2023, highlighted that consulting accounted for nearly one-third of all MBA hires. The allure of this profession lies not only in its high salaries but also in the multitude of specialization opportunities and diverse areas to work in.

At the forefront of the consulting field, the Big Three consulting firms, comprising Boston Consulting Group (BCG), McKinsey, and Bain, offer some of the most competitive starting salaries in the industry, reaching a staggering $190,000. This handsome remuneration serves as a strong incentive for MBA graduates, making consulting an appealing career option.

For prospective MBA students aspiring to build successful consulting careers, several institutions have been identified as the best in 2024. Topping the list is INSEAD, followed closely by the Indian School of Business and the University of Chicago Booth School of Business. Other reputable institutions that made it to the top include Northwestern University Kellogg School of Management, Columbia Business School, University of Virginia Darden School of Business, The Wharton School of the University of Pennsylvania, Harvard Business School, London Business School, and University of Michigan Ross School of Business.

These schools witnessed a significant number of graduates entering the consulting industry, their paths paved by the institutions’ commitment to providing unique benefits and opportunities. While median salaries ranged from $133,749 to $175,000 among these schools, the Indian School of Business stood out with an impressive number of 349 consulting hires, despite offering comparatively lower average salaries. This is a testament to the school’s ability to foster strong connections within the Indian job market.

The chosen MBA paths from these esteemed institutions have proven to be a worthwhile investment, offering a substantial return on investment and successfully equipping graduates for prosperous consulting careers. As the consulting industry continues to flourish, MBA candidates are encouraged to explore the diverse opportunities available at these top-ranking schools.

In conclusion, consulting remains the go-to career choice for MBA graduates, as indicated by the latest hiring trends. With high salaries, abundant specialization opportunities, and a wide variety of potential sectors to explore, the consulting field continues to attract and reward talented professionals. To maximize their chances of success, aspiring consultants should consider pursuing their MBA at one of the top-ranking institutions, which provide a strong foundation and invaluable networking opportunities.