Want a career in consulting? It is one of the highest-earning career paths you can take. Three MBAs from MBS and HEC Paris explain how an MBA can help you land a job with a top firm like PwC!
Consulting is a fast-paced, high-earning career path that is immensely popular in the MBA world. It is one of the few industries where a degree is pretty much essential for advancement. A b-school graduate staple, consulting careers are the traditional pathway that MBAs flock towards, and its a role that gives you access to many different industries.
MBAs are turning towards the consulting road in higher numbers than ever. And recruiters are gobbling up b-school graduates from some of the world’s top MBA programs.
The demand and supply for b-school graduates at top consulting firms is aggressive, and so too is the interview process: it is no easy feat landing a job with one of the Top Four consulting firms such as McKinsey & Company or
PricewaterhouseCoopers (PwC). Most MBAs will face a barrage of written tests, face-to-face interviews with senior managers and case studies that challenge not just their business skills, but their intelligence, analytical ability and interpersonal skills.
It is a highly intense and challenging process.
But once through and at the other side, successful candidates are able to reap the benefits of an industry with lucrative pay packets. This Fall, undergraduates fresh out of university can expect a starting, base salary at a top consulting firm as high as $75,000.The lowest an undergraduate, who is in their first year post-study, can expect to receive at one of the leading consulting firms is $60,000, at
KPMG, according to a study conducted by Management Consulted.
For an MBA graduate, salaries at Accenture,
Bain & Company and McKinsey can jump to a staggering $135,000. At Accenture, that wage includes a signing-bonus of up to $35,000 and a performance bonus of up to $43,500.
MBA courses at top business schools such as the
London Business School, ranked 4th in the world by the
Financial Times, cost up to 57,500 GBP. Without a doubt, the consulting industry, led by prestige global brands such as Deloitte Consulting, offers some of the highest starting salaries and bonuses for MBA graduates to get a return on their educational investment.
All of the Big Four accounting firms that offer consulting - PricewaterhouseCoopers, Deloitte, Ernst & Young and KPMG – offer graduate opportunities. Ernst & Young, that has over 160,000 employees, are visiting five different university campuses in October this year, including the prestigious University of Cambridge and St Andrews in the UK.
But is an MBA essential to get a top consulting job?
We spoke to three current MBAs at
HEC Paris and
Manchester Business School, the latter a university renowned for its consultancy links, to find out how their business Masters’ helped them land jobs and further their consulting careers.
Victor Anzaldo has over a decade of experience in sales and consulting and has worked at SAP AG and Cisco Systems Ltd. Originally from Mexico; he decided to study an MBA at Manchester to get closer to the European market.
Since graduating from the MBA program in 2011, he landed a job as a Senior Consultant at Ernst & Young LLP, thanks to the alumni network at MBS. He said that his MBA “absolutely” helped him get ahead in consulting. “I’m convinced that the network that b-school provided me with was incredibly useful in getting the job,” he said.
“My previous internship, with Cisco Systems, was because of the network with Manchester. So, in both cases the network with the business school and the alumni was a very strong point to get from the school to the real world.”
Victor thinks that MBAs go into consulting because of the exposure you get to so many different industries: “Everyone could have different reasons but for me, it was to get exposure and to leverage that exposure back to other industries, and a career in consulting will help other companies be successful."
He thinks that the interview process was “very structured” and he went through the rigors of an initial phone-screening, a case interview with Ernst & Young managers and then a final interview with one of the company’s partners. But, surprisingly, he doesn’t think an MBA is “essential” for a consulting career. “I wouldn’t say so because I believe not all consultants have MBAs. But I strongly believe that an MBA could be an edge to progress faster or to have added value in your CV, or if you decide to go back to industry, it could be an extremely good combination,” he added.
Varun Verdhan was a Consultant at top firm PricewaterhouseCoopers for two years and in 2011, he was promoted to Senior Consultant - before even beginning his MBA program! He left a successful position to further his career and graduated from MBS in June this year. He said the interview process was “challenging” and that his MBA will “definitely” help get ahead. “I studied an MBA because I was consulting clients which were at the senior business levels,” he said.
“So, when doing consultancy projects, I always used to feel I had a small gap which could be filled with more business knowledge. I wanted to make my profile much more global and I saw an MBA as an opportunity to grow and expand my skills.”
After leaving PwC, Varun was able to keep abreast with his consultancy skills with three separate consulting projects at MBS. He says that MBAs go into consulting for the “fast-paced” exposure to different industries. “Consulting is a fast-paced job and gives you exposure to so many different industries,” he said. “But now, after my MBA, I see the consulting workplace as an opportunity; a place where I will be meeting the finest, smartest people whom I can learn from.
“The numbers of opportunities in consulting increases exponentially after you study an MBA, and Manchester has a great consulting ethos.”
Nick Hwang is studying on the part-time MBA program at HEC Paris. He has over six years’ experience as an engineer but wanted to switch career paths and get into consulting. He worked on an MBA consulting project with the Gates Foundation, in collaboration with
Wharton, the ivy-league b-school, and was one of the vice presidents of the HEC MBA Consulting Club for six months.
He says his MBA has “definitely” helped him in starting a consulting career. “The consulting and strategy part of HEC is strong and the Consulting Club is one of the strongest in the school,” he said.
“HEC holds a consulting forum each year where we gather alumni working in the top consulting firms such as Bain and McKinsey.. and it gave me a taste of the consulting world.
"I had the desire to open up and be able to look into different industries. A consulting career gives me a very good anchor to be able to switch careers in a short space of time. I want to get into one of the top consulting companies.”
If you want to launch a consulting career, an MBA isn’t essential, but it gives you a massive boost in the employment world. Not only will you have a higher starting salary, but your alumni network and careers team will provide you with a gateway into one of the most popular, fast-paced and high-earning b-school graduate industries in the world.
Student Reviews
Cultural experience
I have met the most competent and diverse batch in this school. These people not only thrive on their own but also makes sure that you are doing it with them. The professors will take your had and walk you through all milestones and make sure you are not left behind. I have found their extracurriculars extremely engaging. There was always a room to have social life after academic life. The only hindrance is the location of the school, it is slightly outside city and living in city is expensive.
Internationality and diversity of opportunities
About my programme I would say it is very international and flexible: we have the opportunity to choose exactly the courses we want. But at the same time, the frame of the campus is crucial in students' life and enable us to create friendships.
Great selection of people
While HEC's MBA is highly selective, I really enjoy the type of people HEC's selects to make sure everybody gets the best out of their MBA experience and networking opportunities. Not only it's an incredibly diverse pool of people (~60 nationalities) but most importantly they make sure to let in friendly empathic and curious people.
Best in France for Grande ecole
A prestigious business school. Languages are important. It is better to have a scientific baccalaureate with excellent grades in high school and good assessments.
The courses are well designed as per the latest trends and practicality of learning in stressed upon. Overall, a very good experience.
Diversity and quality of fellow students
Very international and interesting place to be and opens a lot of opportunities, however the administration is very french and facilities are subpar (gym, classrooms) meaning the academic affairs is pretty much useless and lastly we are graded on a curve which can create a toxic environment because of the competition. With that being said the pros outweighs the cons by far.
The quality of the teachers, the campus, the clubs
The school is very international indeed, we have courses with international students and share things with them within the extra academic life (in the social clubs especially). We have great career prospects if we prepare ourselves well - however, the global curriculum is still very finance-oriented, which is a pity for other interesting domains of the company world, which does not rely on finance only. The social clubs are good practice for the management and for now, are quite independent.
HEC Paris awaits you
HEC Paris is really a nice place to do a master's in business. Many classes are useful and interesting (corporate finance, financial accounting, contract law…), some are less - but the curriculum is to be reviewed in the year to come. Regarding the student life, it is incredible, with about 130 clubs, lots of great parties with even greater people. The Jouy campus offers a lot of opportunities to do sports, and you can breathe fresh air every day. HEC also helps a great deal to find an internship or a job.
A dream institute
Enrolling in the HEC MBA was by far the best decision I made for myself. The people and faculty are great, with lots of opportunities to meet people and expand your horizons. Very nice campus where I have had some good running sessions.
The alumni network is superb and very helpful. It also has a good support system for entrepreneurs. Would definitely recommend it!
Good choice for a career boost
The classes were extremely practical and relevant to the current challenges that businesses are facing. You have access to a wide range of professionals and good career prospects once you leave the university.
Cultural experience
I have met the most competent and diverse batch in this school. These people not only thrive on their own but also makes sure that you are doing it with them. The professors will take your had and walk you through all milestones and make sure you are not left behind. I have found their extracurriculars extremely engaging. There was always a room to have social life after academic life. The only hindrance is the location of the school, it is slightly outside city and living in city is expensive.
Internationality and diversity of opportunities
About my programme I would say it is very international and flexible: we have the opportunity to choose exactly the courses we want. But at the same time, the frame of the campus is crucial in students' life and enable us to create friendships.
Great selection of people
While HEC's MBA is highly selective, I really enjoy the type of people HEC's selects to make sure everybody gets the best out of their MBA experience and networking opportunities. Not only it's an incredibly diverse pool of people (~60 nationalities) but most importantly they make sure to let in friendly empathic and curious people.
Best in France for Grande ecole
A prestigious business school. Languages are important. It is better to have a scientific baccalaureate with excellent grades in high school and good assessments.
The courses are well designed as per the latest trends and practicality of learning in stressed upon. Overall, a very good experience.
Diversity and quality of fellow students
Very international and interesting place to be and opens a lot of opportunities, however the administration is very french and facilities are subpar (gym, classrooms) meaning the academic affairs is pretty much useless and lastly we are graded on a curve which can create a toxic environment because of the competition. With that being said the pros outweighs the cons by far.
The quality of the teachers, the campus, the clubs
The school is very international indeed, we have courses with international students and share things with them within the extra academic life (in the social clubs especially). We have great career prospects if we prepare ourselves well - however, the global curriculum is still very finance-oriented, which is a pity for other interesting domains of the company world, which does not rely on finance only. The social clubs are good practice for the management and for now, are quite independent.
HEC Paris awaits you
HEC Paris is really a nice place to do a master's in business. Many classes are useful and interesting (corporate finance, financial accounting, contract law…), some are less - but the curriculum is to be reviewed in the year to come. Regarding the student life, it is incredible, with about 130 clubs, lots of great parties with even greater people. The Jouy campus offers a lot of opportunities to do sports, and you can breathe fresh air every day. HEC also helps a great deal to find an internship or a job.
A dream institute
Enrolling in the HEC MBA was by far the best decision I made for myself. The people and faculty are great, with lots of opportunities to meet people and expand your horizons. Very nice campus where I have had some good running sessions.
The alumni network is superb and very helpful. It also has a good support system for entrepreneurs. Would definitely recommend it!
Good choice for a career boost
The classes were extremely practical and relevant to the current challenges that businesses are facing. You have access to a wide range of professionals and good career prospects once you leave the university.
Diverse
HEC, as an academic institution, serves as a launching pad for students to excel in their pursuits and careers. The diversity among students and professors is truly remarkable. The chance to attend seminars across five major continents is unparalleled. The exposure and relationships it fosters are invaluable.
Super diverse
It's a super diverse and fascinating environment with tons of chances, but the management is very French, and the facilities like the gym and classrooms are not great. This makes the academic side quite ineffective. Plus, we're graded on a curve, leading to a competitive and sometimes toxic atmosphere. Despite all that, the benefits definitely overshadow the drawbacks.
Surreal academic experience
What stood out to me about HEC was the direction and insight it offered on coding approaches. Prior to joining the program, I attempted self-learning, but I felt disoriented and lacked a starting point.HEC enabled me to grasp the basics of programming and provided support when I encountered obstacles. Without that guidance, I doubt I would have achieved the progress I have made to date.
Good security
HEC boasts a dedicated team of security personnel who undergo rigorous training to ensure the perpetual maintenance of tranquility and orderliness within the institution. Their unwavering efforts are directed towards fostering a sense of security among the student body, thereby enabling them to channel their energies predominantly towards their academic pursuits.
Innovative teaching method
I am thoroughly enjoying my time at HEC, from the innovative teaching methods to the welcoming campus environment, which is particularly supportive of international students. The extracurricular opportunities, such as sports and associations, are incredibly valuable. Additionally, the career services offered are exceptional. Overall, I find my experience at HEC to be truly enriching.
mim
HEC Paris has been a transformative experience for me. The caliber of the faculty, the diversity of the student body, and the global network it offers are unmatched. The curriculum is highly flexible, allowing students to tailor their learning experience to their career goals, and the focus on real-world application through case studies and consulting projects provides invaluable hands-on experience. The campus itself is beautiful, and the opportunities to engage with leading companies through internships, competitions, and networking events have been incredible. HEC truly prepares you to be a leader in today's complex business world. I couldn’t have asked for a better program to propel my career forward.
Unwavering enthusiasm
Here's the first paragraph:
I embarked on a journey to Paris, where HEC University welcomed me with open arms. As I stepped onto its prestigious campus, I was captivated by the infectious energy and innovative spirit that filled the air. The passionate faculty, industry experts, and fellow visionaries from around the globe shared their knowledge with unwavering enthusiasm."
Exceptional Experience
HEC offers an exceptional experience that I highly recommend. The small-town setting allows for a unique blend of academic rigor and community engagement. The peaceful campus and close-knit student body create a warm environment. Proactive engagement with professors yields valuable guidance. Friendships may blossom slowly, but persistence pays off. The city's beauty, scenic views, and diverse eateries near campus enrich the experience. University dining may not impress, but it's decent.
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