Top MBA Recruiters: Deloitte
If there’s one thing that every MBA grad has in common, it’s the desire for a great job after graduation. While that concept is different in execution for each individual, there’s no doubt that Deloitte would top the list. It was just named by LinkedIn as the 13th most sought after company to work for.
According to the 2015 Prospective Student Survey conducted by the Graduate Management Admissions Council (GMAC), consulting topped the list of intended industries for both millennial and Gen X respondents (41% and 27% respectively). And while the big three consulting firms (McKinsey, BCG, and Bain) typically garner the most attention, the Big Four (KPMG, EY, PwC, and Deloitte) are edging into their terrain for elite management consulting.
A survey by Universum Global ranked the top 100 employers for MBAs, and Deloitte regularly makes the list. In 2015, it ranked #7 on the list—up two slots from 2014. In fact, in 2015, 10.77% of MBAs put Deloitte in the top 25 best employers list.
Why MBAs Love Deloitte
There’s no doubt that MBAs love Deloitte. According to CNN Money, Deloitte is the 11th most sought after firm with 8.38% of MBAs wanting to work there, and one of the reasons is the company’s commitment to new hire growth. MBAs who get a job at Deloitte shouldn’t expect to remain stagnant but should have a myriad of opportunities to grow and expand their skillsets.
Deloitte also pays very well. In fact, according to a recent Business Insider article, Deloitte is the top paying consulting firm for MBAs. Deloitte Consultants can expect a total compensation package of $228,750. The break down is as follows:
- $35,000 signing bonus
- $147,000 base salary
- $2,500 relocation local or $10,000 relocation out-of-state
- Up to $36,750 in performance bonuses
The next highest paid consultants work at A.T. Kearney with $223,500 in total compensation and Accenture Consulting with $222,000 in total compensation.
But working at Deloitte isn’t just about a great salary. MBAs who land a job at the firm can expect to find themselves working in a variety of industries including banking, energy, national defense, real estate, and entertainment. Even better, MBAs at Deloitte jump right into work, contributing immediately to the bottom line while being guided by top management.
Life at Deloitte
MBAs hired by Deloitte typically start as Senior Consultants, according to the Deloitte website. As a Senior Consultant working in the Strategy & Operations division, you can expect to use all of your skills and capabilities to help clients solve complex business issues. Based on the Deloitte job description, you’ll work on a team of four to ten people on assignments involving corporate strategy, merger integration, supply chain strategy, and innovation and growth.
After 2-4 years, Senior Consultants can move up to a Manager position, where you’ll plan and manage moderately complex engagements. Another 3-6 years later you’ll become a Senior Manager, and 4-6 years after that you can become a Principal/Director and serve as a trusted advisor to senior client executives.
However, consulting is just one place to start at Deloitte. Depending on your previous experience, MBAs at Deloitte can work in one of eight divisions:
- Financial Advisory
- Internal Client Services
- Real Estate
- Tax Consulting
Landing a Job at Deloitte
It isn’t easy to land a job at Deloitte. In 2012, the firm hired more than 400 MBAs overall, but that’s only .2% of the more than 191,571 people who graduated from US schools with advanced degrees in business between 2011-2012. That means if you want one of the coveted positions you’re going to have to fight for it.
According to Andrea Hampton who spoke with CNN Money, a Deloitte employee who oversees business school recruiting, “The firm seeks candidates ‘who are committed to continuous development and who want to help others lead.’” The key is to start the relationship early in your MBA career. Deloitte regularly attends top universities for conferences and coffee chats.
According to the Deloitte website, qualified MBA candidates looking to earn a Senior Consultant position should have:
- 3-5 years work experience (preferably in a large company).
- A high level of personal and professional experience and history.
- Superior analytical skills.
- Leadership capabilities and solid teamwork skills.
- Exceptional communication and interpersonal skills.
To land a job at Deloitte, you’ll most likely have to earn your MBA from one of the top 40 global business school. You should also start by participating in one of Deloitte’s Advanced Degree Opportunities. You can join Deloitte’s Consulting Immersion Program or their MBA Visionary Program and Scholarship. There are also internships, case competitions, and innovation challenges available for interested students.