The Best Business Schools for Landing Top Consulting Jobs
Clear Admit recently explored which business schools help prepare MBAs the most for a career in consulting, which you can read below.
With starting salaries in the $140,000 to $150,000 range and a customary $25,000 signing bonus on top of that, it’s no wonder so many business school students target the prestige consulting firms known as the “MBB”—McKinsey & Company, Boston Consulting Group (BCG), and Bain & Company—as their post-MBA landing pads. That $170,000+ annual compensation package can quickly cut any MBA loan debt you may have taken on down to size.
Indeed, management consulting has been one of the most coveted career paths for fresh MBA grads for ages. And though the technology industry has in recent years been stealing some grads from the consulting industry’s traditional slice of the pie, the most recent MBA employment reports reveal that consulting is already making a comeback against tech at certain schools.
The opportunity to work with a range of clients comprised of many of the world’s most celebrated businesses across industries—tech included—is part of the appeal of consulting. In many ways, a top consulting gig allows MBA grads to continue their management education while getting paid for it—and further honing their skills and expertise by helping solve a wide variety of business challenges. And, not for nothing, breaking into the MBB is a highly competitive pursuit—one that almost assures that your colleagues will be smart, driven people you’ll get a lot out of working with.
Finally, where the top consulting firms are choosing to find their talent reflects on the quality of the education those schools’ students are getting. In many ways, the hiring practices of the MBB can serve as a gold star standard of sorts for MBA programs.
Elite Firms Hire Grads from Elite Business Schools
The crème de la crème of leading business school talent has headed toward the top consulting firms for decades—and performed well there—creating a virtuous circle of sorts in which the firms’ appetite for such talent only grows. And while this piece focuses on MBB, we should note that a host of other consulting firms—Deloitte, A.T. Kearney, Accenture, Strategy&, and Oliver Wyman among others—are also highly prized post-MBA destinations.
If you are looking to see which business schools send the greatest percentage of their graduates into consulting overall, don’t miss our September 2017 analysis of leading consulting industry feeder schools. Which schools top the list? And what stands out about how these schools successfully train students for careers in consulting?
Looking at Class of 2016 graduates, the University of Virginia’s Darden School led the pack, with 38 percent of its graduates heading into consulting. Columbia Business School was next, sending 35 percent, followed closely by Northwestern University’s Kellogg School of Management, which sent 33 percent.
The 2017 employment reports, which have been released since our analysis last fall, show some shifts year over year. Darden tied with Emory’s Goizueta School of Business in terms of the percentage of Class of 2017 grads who headed into consulting, with each school sending 34 percent. Close on their heels were Columbia, Duke’s Fuqua School of Business, Northwestern’s Kellogg School of Management, and Dartmouth’s Tuck School. All four sent 33 percent of their most recent graduating class off to consulting firms.
2 Non-U.S. Schools Lead All Others in Consulting-Bound ’17 MBA Grads
But year after year, one thing remains the same. INSEAD, with campuses in France, Singapore, and Abu Dhabi, beats all leading U.S. business schools when it comes to consulting. INSEAD’s 2016 MBA employment report, detailing employment outcomes for December 2015 and July 2016 INSEAD grads, shows that 46 percent went into consulting. And the most recent figures reveal that almost a full half—49 percent—of the 1,029 students who completed the INSEAD MBA program in December 2016 and July 2017 chose to either enter or return to the consulting field.
We should note here that INSEAD is distinct from many other schools in that it includes sponsored students who are returning to their pre-MBA employers among its hiring stats. This is in contrast to many U.S. schools, where the reported number and percentage of students hired by sector and employer corresponds to those students actively seeking employment, excluding sponsored students. Of the 49 percent of INSEAD 2017 grads headed into consulting, 33 percent were new hires and the remaining 16 percent were returnees.
London Business School (LBS) was the runner-up for the Class of 2017, sending 41 percent of grads into consulting. This was a 6 percentage-point gain over the school’s previous class of MBA graduates. Like INSEAD, LBS’s reported sector designation and top employer information includes sponsored students, only its employment report does not disclose what percentage of the class those returning students represent.
U.S. News Reveals Sneak Peek of Its 2019 Business School Rankings
With just over a week before U.S. News & World Report reveals its eagerly-anticipated 2019 best business school rankings, the publication offered a sneak peek of the business schools that managed to earn spots within the top 10.
Unsurprisingly, the top 10 of the 2019 rankings resembles the publication’s 2018 edition, with nine out of the top 10 schools nearing the top of the annual list. The lone ranking variation from 2018 to 2019 will be the University of Michigan Stephen M. Ross School of Business, which came in 11th in the previous year.
The top ten business schools for the 2019 U.S. News rankings are as follows (unordered):
- The Wharton School at the University of Pennsylvania
- Harvard Business School
- The Booth School of Business at the University of Chicago
- The Kellogg School of Management at Northwestern University
- The Ross School of Business at the University of Michigan
- The Tuck School of Business at Dartmouth University
- The Sloan School of Management at MIT
- The Stanford Graduate School of Business
- University of California—Berkeley (Haas)
The one school left out of the newest rankings from the previous edition was the Yale School of Management.
The publication will release the full list of the 2019 best business school rankings will officially arrive on March 20, 2018. Stay tuned for more updates on the rankings on MetroMBA.
Bloomberg Businessweek Praises Rutgers, and More – New York News
Let’s explore some of the most interesting stories that have emerged from New York business schools this week.
Bloomberg Ranks Rutgers MBA No. 1 in the Northeast in Job Placement – Rutgers Business Blog
In its “Best Graduate Business Schools of 2017 ” survey, Bloomberg Businessweek ranked Rutgers Business School (Newark, New Brunswick) as the top business school in terms of job placement within the Northeastern United States,. coming in second overall in the United States. Andy Heller, RBS MBA ’11 and current senior associate director of payor and health system marketing at Boehringer Ingelheim sang Rutgers’ praises in terms of preparing him to succeed in the corporate world.
“That kind of experience has helped me each and every day since graduation. Having diverse perspectives on our team ensured that our solutions would be differentiated, yet relevant, and impactful,” Heller notes.
In addition, RBS topped its fellow Big Ten competitors when it came to return on investment, narrowly edging out the University of Iowa College of Business, and Northwestern University’s Kellogg School of Management. The latter of which offered a higher multi-year ROI for potential MBA students, but cost much more in terms of tuition.
Read more about Rutgers’ rankings and accolades here.
Are You a Good Fit for the Executive MBA/MS in Healthcare Leadership Program? – Johnson Business Feed
The Executive MBA/MS in Healthcare Leadership program at Cornell’s SC Johnson School of Management “integrates the general management curriculum of Johnson’s Executive MBA programs with the deep healthcare expertise of Weill Cornell Medicine’s Healthcare Policy and Research Department.” The joint program was developed to “reflect the future of healthcare” and help “sharpen and deepen the skill sets of healthcare professionals through business and healthcare leadership education,” according to the school.
“Today’s healthcare leaders need to be open to knowledge from different vantage points so they can advance progressive healthcare agendas, locally and nationally. Many healthcare leadership programs are exclusively for physicians. However, as we developed this new program, the physicians we spoke to expressed interest in an executive healthcare program that welcomed non-clinicians from different sectors of healthcare—not just practitioners.”
Take a look at the makeup of the Executive program below:
You can read here to learn more about what the program looks for in terms of applicants.
Rewiring Hidden Biases for Better Outcomes – Gabelli Connect
Fordham University’s Gabelli School of Business recently hosted a talk by Harvard professor of social ethics Mahzarin Banaji who unpacked the hidden biases of well-intentioned people—that is, “the beliefs that live in the subconscious and are formulated due to various exposures throughout one’s life.”
Banaji explains:
“A bias is nothing more than a tilting away from neutrality. There’s bias in the mind of the receiver and the applicant. We have to work with the very groups that are holding themselves back and educate those who are holding them back. We are capable of change by how many times we stretch those muscles.”
Learn more about Banaji’s take on unconscious biases here.
Amazon, Philly Win Super Bowl According to Northwestern Kellogg
Philadelphia football fans took to the streets, toppling cars, scaling street lamps, and setting at least one fire to celebrate their beloved Eagles’ first-ever Super Bowl win, 41 to 33 against the New England Patriots. But according to MBA students at Northwestern’s Kellogg School of Management, e-commerce giant Amazon was the victor in terms of best ads of the night.
On Sunday, as the game got underway in minus-2-degree Fahrenheit Minneapolis, approximately 50 Kellogg students teamed up with marketing professors Tim Calkins and Derek Rucker to determine the night’s winners and losers in the battle of the brands. Advertisers spend more than $2 billion each year and roll out highly anticipated Super Bowl commercial spots in an effort to imprint their brands in the minds of millions of spectators—some wowing and others bombing in the process.
Kellogg students watch commercials during the Super Bowl at the Allen Center Atrium in Evanston, Illinois, February 4, 2018. Photo by Jim Young for Kellogg
Armchair spectators around the world pick their own winners and losers among the ads, but for the 14th year running, Kellogg students applied a unique framework for evaluating an ad’s brand-building potential as part of last night’s 2018 Kellogg School Super Bowl Ad Review. Using the ADPLAN framework to evaluate each ad according to six critical criteria—Attention, Distinction, Positioning, Linkage, Amplifications and Net Equity—the Kellogg students determined the winner of the night to be Amazon with its “Alexa Loses Her Voice” commercial spot. Also scoring highly were Mountain Dew, Doritos, Tide, Avocados from Mexico, and Wendy’s.
Joining the Pats in defeat, according to the Kellogg review, were Squarespace and T-Mobile, which each received “F” grades for least effective advertising during the game.
“Amazon used a cast of celebrities that focused us on the brand, reinforced the equity in Alexa, and ultimately was fun to discuss and share with those around you,” Professor Rucker said in a statement. The Amazon ad included appearances by Cardi B, Rebel Wilson, and Amazon CEO Jeff Bezos. “However, Squarespace and T-Mobile both missed the mark with questionable positioning and unclear calls to action,” continued Rucker.
Kellogg students analyzing Super Bowl ads in real time. Photo by Jim Young for Kellogg
Professor Calkins called attention to two trends that emerged across the big game’s ads—a competitive angle and philanthropy. “As competitive as the game was, the category wars were equally competitive,” Calkins said in a statement. “For example, there was hard hitting competition in the wireless wars with some brands calling one another out,” he noted. In addition to poorly performing T-Mobile, wireless advertisers included Sprint and Verizon, which the Kellogg student review team each awarded “B” grades.
“Many brands tried to appeal to viewers through philanthropic causes, including Toyota, Ram, and Hyundai,” Calkins added. Ram, for its part, sought to sell its trucks using images of people helping others with a sermon given by Dr. Martin Luther King, Jr. as the voice over. The ad concluded with the phrase “Built to Serve” flashed on the screen alongside a Ram logo. Unfortunately for Ram, the social media backlash was fast and furious.
“A Martin Luther King Jr speech to sell @Dodge Ram trucks? Totally offensive #mlk,” wrote one user on Twitter.
Several other tweets expressed similar sentiments:
There was audible painful groaning at the Super Bowl party I’m at as everyone realized Dodge Ram was trying to profit off of an MLK speech
— Hunter Walker (@hunterw) February 5, 2018
Not sure MLK’s dream was to drive a Dodge Ram.
— ItsTheReal (@itsthereal) February 5, 2018
“I have been to the mountaintop. And I got there in a Ram truck.” – MLK
— SportsPickle (@sportspickle) February 5, 2018
The Kellogg student team gave the Ram commercial a “C” grade overall, but Calkins had more to say in an interview with the New York Times. “It’s the wrong mistake to make given everything that’s going on in the U.S. right now,” he told the Times. “There’s so much emotion right now around race in this country that this was a high-risk move, and clearly it’s not going over very well,” he continued.
“I think it was well intentioned, but they’re going to have a lot of explaining to do,” Calkins continued. “They did not release this ahead of time, so they went for the surprise. They got that, but at the same time they now have a big problem with feedback and people being upset.”
Though many on Twitter directed their ire toward Dodge—the Detroit-based car manufacturer founded by two brothers of that name in the early 1900s—the Ram Truck brand was officially separated from the Dodge car brand in 2009 as part of an acquisition by Italian automaker Fiat S.p.A. Its successor, Fiat Chrysler Automobiles, is the current owner of the Ram Tuck brand.
Perhaps some of the confusion around brand will be a boon to Ram’s owner as it attempts to recover from its Super Bowl fumble. As for whether ad champion Amazon will look favorably on football champion Philadelphia as a spot for its future HQ2—another topic of speculation on social media last night—only time will tell. What we do know is that the students at Kellogg will carry lessons learned from advertising’s biggest night along with them into their future careers in marketing.
For the full 2018 Kellogg School Super Bowl Ad Review results, click here.
To learn more about the Kellogg School Super Bowl Advertising Review, click here.
This article was republished with permissions from our sister site, Clear Admit.
What are the Greenest Business Schools in the U.S.?
Earlier this month, the Global Hub at Northwestern’s Kellogg School of Management earned LEED (Leadership in Energy and Environmental Design) Platinum certification, becoming only the second building on the Northwestern campus to earn the U.S. Green Building Council’s highest green building rating.
The 415,000-square-foot Global Hub, which opened in March 2017, was designed with a low carbon footprint in mind. It is the largest of Northwestern’s 12 LEED-certified buildings. “Achieving LEED Platinum certification for the Global Hub underscores Kellogg’s strong commitment to sustainability,” Kellogg Chief Operating Officer William Garrett said in a press release. “A world-class facility demands world-class practices, and the Global Hub checks all of the boxes: It minimizes its carbon footprint, is comfortable and healthy for its occupants, and encourages collaboration and a sense of community.”
The building is a marvel of modern architecture and design. It taps into geothermal energy systems underneath the ground for efficient heating and cooling and uses nearly 6,000 fixtures of LED lighting to reduce energy use. The building also has an advanced ventilation system to circulate fresh ar and uses daylight sensors to minimize the need for artificial lighting.
Overall, the Global Hub earned 85 out of a possible 110 points on the LEED scale, including:
- 26 out of 35 points for energy and atmosphere,
- 7 out of 14 points for materials and resources,
- 8 out of 10 points for water efficiency,
- 23 out of 26 points for location,
- 11 out of 15 points for indoor environmental quality, and
- 10 out of 10 points for the design process and regional priority categories.
“We are proud to have successfully integrated best-in-class sustainability with a stunning architectural design, proving that excellence in design and sustainability are not mutually exclusive,” said Bonnie Humphrey, director of design for facilities.
Of course, Kellogg isn’t the only business school to embrace environmentally conscious building practices for its new facilities. It’s a practice we’re seeing across the board at various top schools.
For example, Harvard Business School has a Sustainability Plan that was adopted in October 2014 to reduce greenhouse gases, improve energy efficiency, reduce water usage and waste, and more. Already, the university has cut its greenhouse gas emissions by 49 percent, its energy use by 33 percent, and its water use by four percent.
MIT Sloan School of Management’s newest building, the Joan and William A Porter 1967 Center for Management Education, also known as E62, was designed with energy efficiency in mind as well. Among its sustainable features are light-sensitive window shades, a green roof, and an irrigation system that minimizes water use by responding to changes in weather.
And not to be left out, UC Berkeley’s Haas School of Business designed its recently constructed Chou Hall to become the nation’s greenest academic building. In addition to LEED Platinum certification, Chou Hall was designed to attain WELL certification, an added accolade given to buildings that promote user health and well-being. Toward this goal, its design includes rainwater cisterns and 24,300 square feet of exterior windows in addition to efficient heating, cooling, and lighting systems.
This article has been edited and republished with permissions from our sister site, Clear Admit.
Comparing The U.S. News Full-Time and Online MBA Rankings
When it comes to business school rankings, U.S. News & World Report issues one of the most comprehensive annual lists. The annual rankings includes separate lists for the “Best Business Schools” and the “Best Online MBA Programs,” but deciding which format is right for you can still be tricky. Continue reading…
