10 Best MBAs For Consulting Careers In 2024
Considering starting a consultancy career and wondering which business schools are best for helping grads launch careers in the sector? These are the 10 best MBAs for consulting in 2024
No matter your interests, a consulting career allows you to combine leadership and critical thinking abilities with other skills and enter into an abundance of different areas.
As well as key areas such as management and strategy consulting, you also have the chance to become a specialist. Fancy yourself a sustainability guru? Then why not head into ESG consulting. Or maybe you consider yourself more of a people-person—in which case HR consulting might just be the ticket for you.
Not to mention, the industry also offers fresh grads some of the highest salaries available. If you’re lucky enough to get hired by any of the Big Three consulting firms—BCG, McKinsey, and Bain—you can expect starting pay packages upwards of an astronomical $190,000. That means you’re guaranteed a strong return on your investment in a b-school degree.
So, that said, what are the best MBAs for consulting careers in 2024? Here are some of the consulting target schools that saw the most grads enter the industry in 2023.
Best MBAs For Consulting In 2024
10. University of Michigan Ross School of Business
If the chance to study in a university surrounded by sprawling pinewood forests isn’t appealing enough already, then perhaps you’ll be swayed by the top tier MBA program at Michigan Ross.
With a highly customizable curriculum that allows students to specialize in up to eight different areas, such as finance and real estate, it’s no surprise that graduates of the program come out well-prepared for a whole host of business opportunities.
Last year, an impressive 127 students landed consulting jobs with top companies such as McKinsey and Bain, making it one of the best MBAs for consulting aspirants. Consulting MBA grads from Michigan Ross earned median salaries of $175,000—some of the highest on this list.
9. London Business School
As a school situated in the center of Europe’s most populated city—home to almost nine million people—and surrounded by many of the world’s top companies, graduates of the esteemed London Business School MBA program are spoilt for choice when it comes to jobhunting.
In 2023, 131 graduates of the prestigious program were able to avail of the school’s unique global networking opportunities by walking into consultancy roles. Many were high-paying jobs with the Big Three firms, ensuring LBS consulting grads earned median salaries of over $130,000.
8. Harvard Business School
It’s one of the most famous business schools in the world—and for good reason. Part of the US’ oldest university, founded back in 1636 by John Harvard in the New England colony of Boston, Harvard has been cultivating some of the greatest thinking minds for well over three centuries now.
Harvard Business School’s top-ranked MBA program is no exception. With a strong focus on dynamic, real-world learning through immersive class projects and internships, graduates of the course are left more than ready for the challenges of a fast-paced business environment.
Earning it a place among the best MBAs for consulting careers in 2024: last year, 142 Harvard MBA students were hired by top consulting firms. They went on to earn impressive median salaries of $175,000.
7. The Wharton School of the University of Pennsylvania
If you’re reading this on a laptop right now, then look no further. The very first general purpose computer was created in Pennsylvania University back 1946 by the tech whizzes John Mauchly and J. Presper Eckert. With a legacy like that, it only follows that the university expects great things out of its business school students, too.
During the Wharton MBA program, students study a selection of core courses which includes marketing and microeconomics, on top of which they can choose to further specialize in areas like management, legal studies, and accounting.
If you’re looking to launch a career in consultancy, this prestigious consulting target school is among the best options. Last year, 148 graduates went into consulting careers, earning salaries of around $175,000.
6. University of Virginia Darden School of Business
Where better to learn the intricacies of business networking than in the famed southern hospitality of Charlottesville, Virginia? With over 18,000 alumni in more than 90 different countries, MBA students can make the connections necessary to advance their careers—including in the field of consulting.
Beating out stiff competition from M7 business schools like Harvard and Wharton, Darden ranks higher among the list of the best MBAs for a consulting career in 2024. That’s because of it’s impressive placement statistics: 148 Darden MBA grads went on to work in consulting, earning large median salaries of $175,000.
5. Columbia Business School
Currently ranked the world’s number-one business school by the Financial Times, Columbia University is a prime location for MBA talent. Not only do you get to study in the beating heart of New York City, the school attracts a multitude of top, cutting-edge business leaders who come to deliver talks, share advice, and make connections.
Last year, a total of 167 graduates of its immersive MBA program entered into consulting roles, significantly higher than some other top-ranked schools. With a range of companies among the recruiters—including the Big Three—Columbia consulting MBAs earned median salaries of $175,000.
4. Northwestern University Kellogg School of Management
Located in a town close to the shores of Lake Michigan, there’s few places more scenic than Northwestern to get your MBA degree.
While studying the program, students are able to take part in not only core leadership modules, but also have access to over 120 student-led clubs and organizations, where they can develop their soft skills in real-time. As a testament to the program’s opportunities, 185 graduates last year (almost 40% of the cohort) landed high-flying consulting roles, earning median base salaries of $175,000.
3. University of Chicago Booth School of Business
Coming in third on this list is the US News top-ranked MBA program at Chicago Booth. With one of the world’s most iconic skylines, and known for its architecture, food, and thriving music scene, Chicago is perhaps the perfect place to kickstart a consulting career.
With 14 different concentrations available in anything from economics to behavioral science, MBA students are provided with an unparalleled opportunity to take risks and flesh out their skillsets.
Earning it a place among the best MBAs for consulting in 2024: last year, 191 students landed top consulting roles, averaging salaries of around $175,000.
2. Indian School of Business
In second place and the only Indian school on this list, is the prestigious Indian School of Business (ISB), situated in the ancient city of Hyderabad. Not only known for its rich history and breathtaking architecture, the city is also renowned for being a center of tech and innovation.
In the Post Graduate Program in Management (an equivalent to the Global MBA), students are can benefit from ISB’s collaboration with top b-schools such as London Business School and MIT to access cutting-edge research and teaching methods.
Last year, a staggering 349 graduates found jobs in consulting, earning a median salary of around $42,320.
Though this may seem lower than other MBA programs on this list, it’s important to remember thataverage salaries in India are substantially lower than in the US and Europe due to a range of factors, while the fees at ISB are considerably less than most other top-ranked programs, costing just $20,630 for the year-long course.
Coming in at number one is INSEAD, the world’s number two MBA program according to the Financial Times. With campuses in both France and Singapore, students at INSEAD have the unique opportunity to study a global degree as well as make connections all over the world.
While on the course, they are placed in carefully selected, diverse study groups, which encourages them to communicate with and solve problems together as part of a team. Last year, 384 graduates—over half of the class—entered the consulting industry, earning median salaries of $133,749.
So, if you’re planning to start a lucrative consulting career, why not consider applying to these top MBAs in 2024.
MBA Programs With The Most Consulting Hires In 2023
If you’re interested in finding out how you can launch a career in consulting, including free advice from b-school careers experts, download our BusinessBecause Careers Guide: What’s Next After Business School
All hiring data is sourced from Bloomberg.