Top Careers to Pursue with an MBA in Consulting
One of the big questions you’ll ask yourself is whether you’d like to work for a large or small consulting firm. Both firms have advantages and disadvantages – a con for you may be someone else’s pro – and require different skills, with regards to consulting and interpersonal skills.
Large firm
There are typically more offerings of companies to work for within the network of large firms, as well as, higher salaries, upward mobility, the chance to manage other consultants, and the opportunity with household name brands.
All positives yes – but with those perks come longer hours, hectic schedules, lots of frequent (if not constant) travel and relocation (national and international) and typically higher stress levels.
Small firm
Smaller consulting firms are like any other small business where employees are required to be multitalented, highly functional, and motivated.
Consultants in small firms need to be competent enough to find their own work, act as accountants, work in sales, marketing, and strategy alongside their bread and butter consulting work.
Depending on the sector, the agency itself and its relationships, your workload may not be consistent. But this could be a positive as you may have a more flexible personal schedule, travel less, and enjoy a closer, more personal relationship with clients.
Salaries
Consultants play a fundamental role in all types of businesses, leading to generally high salaries and bonuses.
Here are some of the top-tier consulting positions with the highest average salaries you could land after your MBA, according to Indeed research:
- Business Consultant: US$71,853
- Consultant: US$74,997
- Management Consultant: US$84,642
- Financial Consultant: US$88,497
- Systems Consultant: US$93,956
- Senior Consultant: US$98,468
Top Firms Hiring Consulting MBAs
If a successful career at a top consulting firm is your goal, here are the firms you should consider sending your application to:
US and Canada
According to Vault’s annual survey for 2019, the top 10 consulting firms in North America are:
- McKinsey & Company
- Bain & Company
- The Boston Consulting Group, Inc.
- Deloitte Consulting LLP
- Oliver Wyman
- Putnam Associates
- EY-Parthenon
- PricewaterhouseCoopers Advisory Services LLC
- Bridgespan Group
- Accenture
Europe
Vault.com’s top 10 consultancy firms to work for in Europe are:
- McKinsey & Company Europe
- Bain & Company Europe
- Oliver Wyman Europe
- Roland Berger Europe
- A.T. Kearney Europe
- OC&C Strategy Consultants Europe
- Simon-Kucher & Partners Europe
- Implement Consulting Group
- QVARTZ
- Arthur D. Little Europe
Asia
The equivalent top ten 10 for Asia is not dissimilar:
- The Boston Consulting Group, Inc. Asia
- McKinsey & Company Asia-Pacific
- Bain & Company Asia
- Deloitte (Asia Consulting Practice)
- Roland Berger Asia
- A.T. Kearney Asia-Pacific
- Oliver Wyman Asia-Pacific
- OC&C Strategy Consultants Asia
- Alvarez & Marsal Asia
- Simon-Kucher & Partners Asia-Pacific
Best Countries for a Career in Consulting
Most of the world’s top consulting firms are located in North America – particularly the US – and Europe, with France and the UK at the forefront of the sector.