The Best Dallas Consulting And Strategic Management MBAs
Year after year, consulting and strategic management careers are a top draw for MBA students. In fact, 41 percent of millennials and 27 percent of Generation X MBA candidates place a job in consulting services or management consultation as their first choice, according to the 2015 Prospective Student Survey conducted by the Graduate Management Admissions Council (GMAC).
A few reasons for this attraction to consulting and strategic management are the prestigious firms such as Boston Consulting Group that hire MBAs as well as the starting salaries. According to Management Consulted, MBAs that go into consulting can expect to earn 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.
There is one issue because consulting is such a sought after career field for MBAs it can be incredibly competitive. That’s why it’s important to go to the right school that offers a best-in-class education for consulting and has a track record of success. For MBA candidates in the Dallas area, the following schools are your best options for a consulting and strategic management MBA. Continue reading…
Rotman Management Magazine Celebrates 10 Years
Since 2007, the Rotman School of Management at the University of Toronto has provided thought leadership and management insight in the form of the Rotman Management magazine. Now, with its thirtieth issue out this spring, the magazine is celebrating ten years of bringing readers insightful articles and topics from experts in the areas of business, economics, psychology, design thinking and more. Continue reading…
Big Data and Business: An MBA vs. Masters in Business Analytics
2016 was the “Year of the Data Analyst.” According to the U.S. Bureau of Labor Statistics, the job market for various data analyst positions is growing far faster than average—around 27 percent annually. In fact, 85 percent of Fortune 500 companies have either launched big data projects or are planning to do so.
Big data, which refers to the practice of analyzing extremely large data sets to reveal trends and patterns, is reshaping the business world—and it’s here to stay. Companies like Google and Amazon have dedicated significant resources to big data, and a report by PWC estimates that the big data market for financial services is expected to increase to $53.4 billion in 2017.
As for the job market for data analysts, the McKinsey Global Institute estimates that by 2018, the U.S. could face a shortage of 140,000 to 190,000 workers with “deep analytical skills,” and 1.5 million managers and analyst with the necessary “know-how” to interpret and apply big data.
In sum, the increasing emphasis on big data in business translates to a growing need for workers who are able to analyze data and communicate the results effectively. Because employers want graduates who can do this work, many business schools are rethinking their curricula and integrating data science.
LBS Employment Report Finds Grads Falling Out Of Love With Finance
London Business School MBA graduates may be seeing higher salaries and increased hiring rates, but its love of the finance industry may be waning.
According to the 2016 London Business School employment report, MBA grads are joining the financial sector at the lowest rate in five years. LBS grads are still joining the industry at 25 percent overall, which trails the 35 percent of graduates that enter consulting. Technology, which hired the third-most LBS 2016 graduates, came in third at 21 percent—the same percentage from the previous year.
via London Business School Employment Report 2016
Goldman Sachs, which typically hires the most LBS MBAs that move into the financial sector, only hired six employees from the 2016 class, down from nine the previous year. Credit Suisse and Citi Bank also hired less grads than the previous year. This all comes despite the fact that the aforementioned companies hired several more total summer interns, but did not retain them. For instance, Goldman Sachs took in 13 interns but only hired six employees—creating a retainment rate of only 46 percent.
Another marked difference is the slightly noticeable decline in finance hires joining private equity firms rather than traditional investment banks. 2016 marked the first year—ever—that more joined private firms, with nine percent of graduates compared to seven percent joining investment banking. These figures fall in line with trends that have persisted since the financial collapse of 2008. eFinancialCareers debuted a report in September of 2016 that found a steadily declining love between MBAs and traditional big banking.
If you’re in London in particular, therefore, the MBA-into-banking route has pretty much disappeared in 2016. Banks’ recruiters say it’s the culmination of a long term trend. ‘This has been going on since 2008,’ says one, speaking off the record. ‘Once things got tough, MBAs just weren’t seen as value for money any more.’
Despite the dampening of the overall numbers, salary rates saw a noticeable bump for finance industry hires. The average annual salary of 2016 grads jumped from £78,358 to £81,905, with the highest max salary leaping from £125,468 to £151,469.
Consulting Hires Jump
The total percentage of LBS graduates joining the consulting industry jumped moderately from 33 percent in 2015 to 35 percent last year, with the majority of hires joining Boston Consulting Group (BCG), McKinsey & Co. and Bain & Company. BCG specifically saw hires nearly double over the course of a year, improving from 19 to 34 total.
Like the financial sector LBS hires, salaries increased across the board for consulting industry MBAs. The average annual salary of those in the industry leaped from £79,773 to £83,268, although the highest salary tracked was £117,389—down from £121,824 in 2015.
The Incoming LBS MBA Class
A total of 411 new students will join LBS in 2017, ranging from 24 to 39 years of age. They enter the MBA program with an average of five years of professional work experience and a 701 GMAT score (up from 699 last year). As well, there is a moderate increase in female students and diversified nationalities. Accepted female applicants jumped to 37 percent from 36 percent, and 68 total nationalities are represented, up from 65 in 2015.
You can read the entire LBS 2016 employment report here.
Hot MBA Jobs: International Business Consultant
International business consulting is one of the world’s fastest growing industries. According to the U.S. Bureau of Labor Statistics, the hiring rate of management consulting (the overarching job category) is increasing much faster than average, with an expected rate improving around 14 percent until 2024.
And there’s no doubt that the international side is growing even more quickly due to the globalization of the world economy, the emergence of new markets and explosive economic growth in countries such as India and China. Not to mention the fact that the world is smaller than ever and that almost every business across the world conducts business internationally—even many small and medium-sized companies. So, as more and more companies embrace the global mindset, international business consultants will be more valuable than ever.
As for MBAs, consulting is still one of the most sought-after career fields. 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 percent and 27 percent respectively).
But before you make the decision to become an international business consultant, let’s take a look at what your career would look like. Continue reading…
Forbes’ 30 Under 30 Welcomes 2 Säid MBA Alumni
When it comes to a school’s reputation, alumni are the shining example of success. And this is especially true when considering an MBA program. Where an MBA alum ends up post graduation is one of the best representations of their education and experience. That’s why it’s so impressive that two University of Oxford Säid Business School alumni have made it onto the Forbes’ 30 Under 30 list for 2017: Daniel Drummer and Matt Watters. Continue reading…
