The Top Consulting And Strategic Management Chicago MBA Programs

While industries such as investment banking may be attracting fewer MBAs, that’s not the case for consulting. Year-after-year it continues to be the top draw for MBA graduates. The 2015 Prospective Student Survey conducted by the Graduate Management Admissions Council (GMAC) revealed that a job in consulting services or management consulting upon graduation topped the list for both millennial (41 percent) and Gen X (27 percent) respondents.

One reason consulting and strategic management careers are so attractive is the diverse work available. Consultants can take a job in a firm like the Boston Consulting Group (BCG) or work as a freelancer or within a large Fortune 500 corporation. Plus, day-to-day consultants get to think creatively and solve problems, working at the big picture level as well as getting down into the nitty-gritty details. Even more attractive, MBAs who go into consulting tend to earn some of the highest starting salaries: between $110,000 to $140,000 for a base with a signing bonus between $20,000 and $40,000 and a year-end bonus of another $20,000 to $40,000, according to Managementconsulted.com.

So, now that you know why consulting and strategic management jobs are still the top choice for MBAs, where the premiere Chicago MBA programs that teach it? We’ve done the research for you and outlined your top five choices below.

Booth School of Business – The University of Chicago

Not only is the Booth School of Business one of the top business programs in the world, but it’s also one of the best MBA programs in Chicago if you’re looking for a career in consulting/strategic management. For full-time MBAs, the most valuable aspect of the program is the Strategic Management concentration. It’s a curriculum path that “emphasizes an interdisciplinary approach involving psychology, sociology and economics to develop analytical frameworks that examine the strategic issues managers face.” As part of the concentration, students take courses in Competitive Strategy, Taking Charge and Technology Strategy.

Also, MBAs have a chance to explore various co-curricular activities, including the Management Consulting Group and the Management Lab.

• The Management Consulting Group is “committed to giving you a competitive advantage by providing comprehensive student development, extensive resources and a wide range of networking opportunities.”
• Management Lab allows students to tackle consulting assignments that focus on strategic thinking, management and research skills. “Working in teams with executives at major companies, you’ll work on new product development, business strategy and operational research.”

 

Kellogg School of Management – Northwestern University

For the fifth year in a row, the Kellogg School of Management had more MBAs accept a job in consulting than any other industry, 35 percent in total. And there’s a good reason for that. Kellogg’s MBA program places a heavy emphasis on strategy. Students can choose to add a Strategy MBA major, which improves a “students’ understanding of how the decisions of managers influence the economic performance of their firms. These courses combine rigorous, analytical thinking with careful attention to institutional detail in order to illuminate aspects of firm behavior, market structure and organizational design.”

In addition to majoring in strategic management, Kellogg MBAs can also expand their consulting experience through the Analytical Consulting Lab (ACL). “Projects in the ACL include working with actual company data, developing meaningful analytical models for managerial decision-making, and presenting results and recommendations to company executives.” There’s also the fact that McKinsey & Company, Bain & Company, BCG and L.E.K. Consulting are some of Kellogg’s top hiring companies.

Kellstadt Graduate School of Business – DePaul University

At the Kellstadt Graduate School of Business, the “Strategy, Execution and Valuation (SEV) MBA concentration is a unique and innovative program for students seeking high-level positions in corporate management, management consulting, investment banking, private equity and entrepreneurship.” The courses included in this concentration teach MBAs how to evaluate, improve and execute business strategy, how to use leading practices and strategy analysis to drive valuations, and how to make a significant impact on the future of an organization. Outside of coursework, students can gain additional consulting experience through the Center for Innovation, which offers a variety of customer classes, seminars and consulting services.

Mendoza College of Business – Notre Dame University

At the Mendoza College of Business, full-time MBA students can choose to focus their education with a Consulting track. “This track is designed for students who wish to formally report to a client, direct client personnel, prepare work plans, facilitate client teams to implement recommendations, organize and write proposals, and participate in new business development.”

Outside of the consulting track, MBAs participate in multiple Interterm Intensive sessions. These sessions allow students to consult with a nonprofit in an intense four-day deep dive into corporate life. The sessions take place in China, Brazil or Chile and include corporate partners such as Deloitte, Hillshire Brands and Starbucks.

Quinlan School of Business – Loyola University

Finally, MBAs who choose the Quinlan School of Business should also choose a Management Concentration. The Management concentration focuses on practical curriculum to enhance your global perspective and strong business ethics foundation. Some of the courses within the concentration that are specific to consulting include Microenterprise Consulting, Business Strategy,and Organizational Change.

regions: Chicago

About the Author