How Can an MBA Get You into Consulting for 2025?

Co-Founder and Chief Data Scientist

Business degrees, including master of business administration (MBA) programs, accounted for the largest category of master’s degrees awarded in the United States (US) for the academic year 20202021. Out of the 866,900 master’s degrees conferred that year, 202,300 degrees—or 23%—were in business [National Center for Education Statistics (NCES), 2023]. However, just pursuing an MBA does not always lead to becoming an entrepreneur or an executive job at a big firm. In case you want to expand your career opportunities after completing your MBA program, you may want to find out how to get into consulting. The average salary of MBA graduates in this field is $78,912 (Zippia, 2023). So, exactly what can I do with a MBA in human resources, consulting, and other fields?

To help individuals seeking to complete an MBA for consulting, our team at Research.com created this guide detailing the necessary skills that MBA students need to master to become a consultant in the specialty of their choice and how to choose the right MBA program for aspiring consultants. Moreover, we discuss the different roles that holders of undergraduate degrees in business and MBA graduates may attain in the consulting industry.

How Can an MBA Get You into Consulting Table of Contents

What exactly do consulting firms do?
Do you need an MBA for consulting?
Skills MBA Students Acquire That are Helpful in Consulting
How an MBA Can Help You Get into Consulting
How do MBA programs in the United States integrate sustainability into their curriculum?
Trends Impacting the Consulting Industry for MBA Graduates
What is the ROI of an MBA for a Consulting Career?
Consulting Positions for MBA Graduates
Which MBA Specializations Best Prepare You for Consulting Success?
What challenges might I face when transitioning from an MBA to a consulting career?
Is a quick online MBA a viable option for rapid entry into consulting?
What Factors Should I Consider When Selecting an MBA Program for a Career in Consulting?
What are the best online MBA programs for consulting?
How can you stand out in consulting job applications after an MBA?
How can networking and mentorship accelerate my consulting career?
Is an Accelerated MBA Program Right for a Consulting Career?

What exactly do consulting firms do?

Consulting firms help organizations by providing them with expert business advice to resolve organizational pain points, meet industry-specific needs, and scale in resources and profit. Companies hire consultants and inform them about their current state and goals. An MBA consultant, in turn, analyzes company information and generates actionable strategies and insights, which are presented to clients as professional recommendations for their next steps to achieve their business goals.

Through their specialized skills and knowledge, business management consultants provide organizations with a competitive edge. Consultant-backed organizations may receive essential market knowledge, such as trends and pioneering systems, and objective recommendations for improvement.

In 2022, the market size of the management consulting industry in the US was $329.66 billion. In contrast, the industry had a market size of $261.28 billion in 2012 (Statista Research Department, 2023). This increase may indicate the growing post-pandemic demand for consulting services in any industry, including the government sector. For this reason, many in the business world have been eager to find out how to get into consulting.

Do you need an MBA for consulting?

An MBA is not a requirement to start your consulting career path but presents considerable advantages, even with the easiest MBA programs to get into. After earning your undergraduate degree, you may apply for entry-level jobs in consulting firms to gain professional experience and work your way up the corporate ladder. These occupations may include data-entry clerks, market research analysts, marketing specialists, management analysts, and financial and investment analysts.

In 2022, the median annual wage of data-entry clerks was $36,190. Meanwhile, market research analysts and marketing specialists earned $68,230, management analysts earned $95,290, and financial and investment analysts earned $95,080 [US Bureau of Labor Statistics (BLS), 2023]. However, earning masters degrees in business may increase your employability, income potential, and your promotion prospects. The advanced knowledge, skills, and tools that MBAs will equip you with may help you receive a salary bump or a promotion at your current employer. MBAs may also help you land a senior role in a company that better suits you long-term career goals and may teach you how to get into consulting.

Skills MBA Students Acquire That are Helpful in Consulting

Considering the competitive compensation and extensive job opportunities that are already within reach of undergraduate business graduates, many may ask, “Is a business degree useful at the master’s level?" MBAs are advantageous to individuals who understand how they may leverage the specialized business knowledge and consulting skills that they may acquire throughout their stay in these graduate programs. Notably, 97% of employers hired MBA graduates in 2021 (Statista Research Department, 2022).

If you want to learn how to get into consulting with your business degree, take a look at the skills that you can gain through the best MBA programs:

Interpersonal Skills. Interpersonal skills are also called “power skills" nowadays because they are just as essential as technical skills. These include communication, empathy, problem-solving, teamwork, and determination. Without these skills, any company would undoubtedly collapse. Thus, entrepreneurs, businesspeople, and consultants must develop and model interpersonal skills for customers and clients to trust them, their products, and their services.
Leadership and Management Skills. Leadership and management skills are power skills that must be emphasized in the consulting industry and the business world at large. Effective leadership guides the efficient utilization of resources—a leader’s own and the members’—based on unfaltering values, along the team’s collective path and toward achieving the team’s goals.
Financial Literacy. Finance is a crucial part of business management. It involves raising, spending, and investing money to fund a new venture or maintain an operational business. It also requires entrepreneurs and businesspeople to understand if their ventures are profiting, losing money, or breaking even. Moreover, MBA courses may require students to learn how to use accounting software applications for business. Thus, a professional working as a consultant must be financially literate to be able to analyze the financial statements of clients.
Analytical Thinking. Analytical-thinking skills help professionals interpret datasets and generate actionable insights that are aimed at supporting clients in making informed decisions. These skills provide them with the ability to spot patterns and interpret them to identify areas for improvement.

How an MBA Can Help You Get into Consulting

The best MBA for consulting is the one that meets your personal preferences and guides you toward the direction of your professional goals. To ensure this, academic institutions design their MBA program curricula to include degree courses that aim to educate students on theoretical knowledge and practical skills, preparing them for real-world industry challenges and opportunities. These courses include the following, which are also some of the specializations in consulting:

Finance and accounting for financial literacy
Leadership and ethics for value-based business management
Marketing for marketing strategy and consumer research
Human resources, operations, and economics for efficient and equitable resource allocation

How do MBA programs in the United States integrate sustainability into their curriculum?

Sustainability is increasingly becoming a critical component of business education in MBA programs across the United States. Here are ways in which these programs integrate sustainability into their curriculum:

Core Courses: Many MBA programs include core courses dedicated to sustainability, covering topics such as sustainable business practices, corporate social responsibility (CSR), and environmental economics.
Elective Courses: Students can choose from a range of elective courses that focus on specific aspects of sustainability, such as renewable energy finance, green marketing, and sustainable supply chain management.
Experiential Learning: MBA programs often offer experiential learning opportunities, such as consulting projects with sustainable businesses or participation in sustainability-focused competitions.

By integrating sustainability into their curriculum, MBA programs prepare future business leaders to address global challenges and contribute to sustainable economic development.

Trends Impacting the Consulting Industry for MBA Graduates

The consulting landscape is continually evolving, influenced by shifts in technology, market dynamics, and organizational priorities. MBA graduates striving to excel in consulting roles must stay abreast of these trends to provide cutting-edge solutions for clients and remain competitive in this high-demand field:

Digital Transformation and Data Analytics

With organizations increasingly relying on digital technologies to enhance operations, consultants with expertise in digital strategy and data analytics are in tremendous demand. MBA programs with a focus on big data, artificial intelligence, and digital transformation equip graduates to meet these needs, enabling companies to optimize processes and make data-driven decisions.

Sustainability and ESG Advisory

Environmental, Social, and Governance (ESG) factors are reshaping corporate agendas. Businesses are turning to consultants to develop sustainable practices and meet regulatory requirements. Specializing in sustainability during your MBA can position you as an expert in this niche, addressing a rapidly expanding sector of the consulting industry.

Remote Work and Flexible Consulting Models

The pandemic has permanently altered the way businesses and consultancies operate. The shift toward hybrid and remote work models has created new areas of advisory need, such as remote team management, agile operations, and technology adoption to support distributed workforce systems. MBA graduates with knowledge in these areas are better suited to address modern client demands.

Industry-Specific Consulting Growth

Trends such as technological advancements in healthcare, supply chain resiliency in manufacturing, and fintech innovations in finance have spurred the growth of industry-specific consulting. Having industry-focused coursework or internships during an MBA can offer a competitive edge in these sectors.

Diversity, Equity, and Inclusion (DEI) Consulting

Increasingly, companies are working toward building more inclusive work environments. This has led to a rise in DEI-focused consulting services. MBA students specializing in organizational behavior or human resources could tap into this growing demand, helping organizations design strategies to create equitable and inclusive workplaces.

Understanding these trends and tailoring your career strategy accordingly can help MBA graduates secure impactful roles within consulting firms. For those considering this path, understanding the average cost of MBA online programs is crucial for making informed decisions about their investment in education.

What is the ROI of an MBA for a Consulting Career?

Evaluating the return on investment for an MBA in consulting requires a balanced analysis of both tangible and intangible benefits. Consider tuition expenses, opportunity costs, and the impact of accelerated career progression on long-term earnings. Reviewing data such as salary increments over time, placement rates, and career advancement trajectories can provide a clearer picture of financial gains. Additionally, factors like curriculum relevance, accreditation status, and networking opportunities contribute significantly to the value of your investment. For a cost-efficient alternative without compromising accreditation standards, explore an AACSB online MBA as a viable option to ensure your educational investment aligns strategically with your consulting career goals.

Consulting Positions for MBA Graduates

Professionals with an MBA are poised to take on higher-level roles in the consulting industry. Business is already one of the highest-paying college majors, so it is not surprising to see MBA graduates in mid-level and senior-level management positions with hefty compensation packages, including the following MBA consulting positions:

Management Consultant. Management consultants are experts in leadership and human resources. They guide organizations in terms of improvement in company culture, strategy, and goals. For instance, they help business executives streamline their long-term goals and turn their vision into reality. Management consultants earn an average annual salary of $138,215 (Glassdoor, 2023).
Financial Consultant. Financial consultants provide their clients with recommendations regarding their monetary resources, returns, and opportunities. They study the financial background of their clients and identify areas where they may reduce costs, invest in more, or profit from. Some financial consultants work as in-house employees of organizations, while others are self-employed. They have an average annual salary of $140,744 (Glassdoor, 2023).

Business Consultant. Business consultants specialize in operations. They are skilled in enhancing workflows, production and management systems, and company structure. Business consultants have an average annual salary of $110,486 (Glassdoor, 2023).
Project Manager. Project managers in the consulting industry may offer business consulting services on a per-project basis. They may be actively present throughout a project of any kind—from ideation to completion for product launches, festivals and other events, or establishment openings, among other projects that may need third-party consulting support. Project managers also navigate risks and assess project performance, the insights of which are given to their clients to implement in future projects. Project managers earn an average annual salary of $97,086 (Glassdoor, 2023).
Consulting Director. Consulting directors or managers are the head of their team of consultants and other supporting members. They oversee all projects, establishing expectations and developing strategies to achieve positive outcomes. Consulting directors have an average annual salary of $296,816 (Glassdoor, 2023).

Which MBA Specializations Best Prepare You for Consulting Success?

MBA programs increasingly offer specialized tracks that directly align with evolving consulting demands. Focus on programs that provide deep dives into areas such as digital transformation, strategic finance, operational excellence, and change management. These specializations develop advanced analytical and problem-solving skills essential for addressing complex business challenges in consulting. Evaluate whether the curriculum incorporates hands-on consulting projects and case studies that mirror real-world scenarios. Additionally, consider programs that offer flexible learning options, such as the online executive MBA, to tailor your education around industry-specific expertise.

What challenges might I face when transitioning from an MBA to a consulting career?

MBA programs equip you with solid analytical and strategic skills, but the consulting landscape often presents unforeseen obstacles. Graduates may face steep learning curves when applying theoretical knowledge to dynamic client environments, managing diverse stakeholder expectations, and adapting to high-intensity project deadlines. Additionally, entering a competitive market may require immediate upskilling and exposure to specialized industry practices. Addressing these challenges often involves proactive continuous learning and targeted short-term training that refines practical expertise, such as exploring the best one year online MBA programs.

Is a quick online MBA a viable option for rapid entry into consulting?

Accelerated online MBA programs are designed to condense core business and consulting curricula into a shorter time frame, providing essential skills in a timely manner. These programs focus on delivering practical, industry-relevant experiences, but candidates should verify that the program maintains rigorous academic standards and robust networking opportunities. Evaluating factors such as accreditation, experiential learning, and industry partnerships is crucial to ensure the accelerated pace does not compromise the quality of education. For programs that meet these criteria, consider exploring a quick online MBA option as a strategic pathway into consulting.

What factors should I consider when selecting an MBA program for a career in consulting?

When choosing an MBA program for a career in consulting, there are several factors to consider. These include the program's curriculum, industry connections, experiential learning opportunities, and reputation in the business community. It's also important to consider the cost of the program and the potential return on investment. For those interested in specializing in data analytics, an affordable online MBA in data analytics may be a good option. Additionally, considering the program's accreditation, faculty expertise, and alumni network can help ensure that you receive a high-quality education and have access to valuable resources and connections in the consulting industry. By carefully evaluating these factors, you can select an MBA program that aligns with your career goals and provides the skills and knowledge needed to succeed in consulting.

What are the best online MBA programs for consulting?

When considering how to break into the consulting field with an MBA, the choice of program can make a significant difference. With the growing demand for consultants in a variety of industries, selecting an MBA program that aligns with consulting career goals is crucial. Here are a few factors to consider when choosing the best MBA program for aspiring consultants:

Accreditation and Reputation: Ensure that the MBA program is accredited by recognized bodies such as the AACSB or EQUIS. A reputable program enhances the credibility of your degree, making you more attractive to top consulting firms.
Specialization Options: Look for MBA programs that offer specializations in consulting-related areas such as management, finance, operations, or technology. This can help you tailor your learning experience to meet the specific demands of the consulting industry.
Curriculum Focus: A solid consulting MBA program should include courses that sharpen your strategic thinking, problem-solving skills, and ability to manage complex projects. Topics like leadership, organizational behavior, and business strategy are especially important.
Networking Opportunities: Successful consultants often rely on strong professional networks. Choose an MBA program that offers access to a large alumni network, industry partnerships, and career services. These resources can provide critical job leads, internships, and mentorships.
Online Flexibility: For those with professional commitments, the cheapest online MBA in information technology or similar programs can offer flexible schedules while still providing a robust educational experience. Many online programs now feature live sessions, cohort-based learning, and collaboration opportunities that prepare you for the consulting world.
Internship and Consulting Projects: Hands-on experience is invaluable in consulting. Programs that offer consulting projects or internships with real-world companies will help you build relevant experience and gain insight into the consulting process.

How can you stand out in consulting job applications after an MBA?

Landing a consulting job after earning an MBA can be competitive, but with the right strategies, you can increase your chances. Here are some key ways to stand out:

Tailor Your Resume and Cover Letter: Ensure your resume highlights the skills and experiences most relevant to consulting. This includes leadership, problem-solving, and analytical abilities. Customize your cover letter to reflect your passion for consulting and how your MBA has prepared you for the specific role you're applying for.
Prepare for Case Interviews: Case interviews are a key part of the hiring process for many consulting firms. These interviews assess your problem-solving abilities and how you approach complex business problems. Practice solving case studies, and consider enrolling in case interview preparation programs or using resources like books and online platforms to sharpen your skills.
Leverage Your MBA Projects: Many MBA programs include consulting-related projects, whether a business strategy assignment or a consulting project with a real company. Use these experiences to showcase your ability to apply your MBA learning to real-world problems. Be sure to highlight these projects in your resume and during interviews.
Build a Strong Professional Network: Networking is essential in the consulting industry. Leverage your MBA program's alumni network, attend consulting conferences, and connect with professionals on LinkedIn. Networking can help you get valuable advice, learn about job openings, and get your foot in the door for interviews.
Gain Relevant Experience During Your MBA: Internships or part-time consulting projects during your MBA can give you practical experience. Many top consulting firms recruit directly from MBA internship programs, so gaining experience in a consulting role will help you stand out as a strong candidate. If you're looking for a cost-effective way to gain these skills, consider an online MBA under 10k.
Highlight Your Leadership and Teamwork Skills: Consulting firms seek candidates who work well in teams and lead projects. Showcase any leadership roles or teamwork experiences from your MBA program. Whether you led a student club, worked in group projects, or participated in leadership seminars, demonstrate how these experiences have equipped you for a consulting role.

How can networking and mentorship accelerate my consulting career?

Networking and mentorship play a pivotal role in transitioning MBA-acquired expertise into real-world consulting success. Establishing relationships with industry professionals and engaging in structured mentorship initiatives offer insights into market trends, advanced problem-solving strategies, and immediate access to hidden job opportunities. Participation in specialized networking events and leveraging alumni networks strengthen both technical and interpersonal skills, ultimately enhancing career agility. Additionally, exchanging best practices with peers during affordable online MBA programs facilitates a deeper understanding of dynamic consulting environments while fostering strategic connections that pave the way for accelerated career growth.

Is an Accelerated MBA Program Right for a Consulting Career?

Accelerated MBA programs condense rigorous coursework into a shortened timeframe, enabling professionals to transition into consulting roles more swiftly. Such programs emphasize intensive, real-world projects and practical problem-solving, which can be beneficial for individuals seeking rapid industry entry. However, candidates should assess whether the program’s structure, networking opportunities, and experiential learning components align with their long-term consulting objectives. For a detailed comparison of expedited educational pathways, consider exploring the MBA accelerated program.

Become a Highly Skilled Consultant with an MBA

Professionals who want to find out how to get into consulting often encounter MBAs as one of their options. Graduate degrees in business may undoubtedly help you become a highly skilled consultant. However, MBAs can be expensive, particularly without financial aid. Fortunately, many academic institutions globally already offer accredited and cost-efficient online business degree programs. Research and explore your options and determine the one that is best for you.

Key Insights

Popularity of MBA Programs: Business degrees, particularly MBA programs, are the most awarded master’s degrees in the U.S., accounting for 23% of all master’s degrees in the 2020-2021 academic year.
Consulting as a Career Path: An MBA significantly enhances career prospects in consulting, with average salaries for MBA graduates in consulting roles around $78,912.
Diverse Roles for MBA Graduates: MBA graduates can pursue various consulting roles, including management consultant, financial consultant, business consultant, project manager, and consulting director, each with competitive salaries.
Skills Acquired in MBA Programs: MBA programs equip students with essential skills such as interpersonal skills, leadership and management, financial literacy, and analytical thinking, which are crucial for success in consulting.
Consulting Industry Growth: The management consulting industry has seen substantial growth, with the U.S. market size reaching $329.66 billion in 2022, indicating increased demand for consulting services.
Benefits of an MBA: While not mandatory, an MBA provides significant advantages for those seeking to enter the consulting field, including higher employability, increased income potential, and better promotion prospects.

FAQ

1. What do consulting firms do?

Consulting firms provide expert business advice to help organizations resolve issues, meet industry-specific needs, and achieve their goals. They analyze company information and offer strategies and recommendations to improve operations and performance.

2. Do I need an MBA to become a consultant?

An MBA is not required to become a consultant, but it offers considerable advantages, such as increased employability, higher salary potential, and better promotion prospects. Entry-level positions in consulting firms can be accessed with an undergraduate degree, but an MBA can help you advance more quickly.

3. What skills do MBA programs provide that are helpful in consulting?

MBA programs provide skills such as interpersonal communication, leadership and management, financial literacy, and analytical thinking. These skills are essential for consultants to analyze data, develop strategies, and provide effective recommendations to clients.

4. How can an MBA help me get into consulting?

An MBA can help you get into consulting by providing specialized business knowledge and consulting skills. MBA programs offer courses in finance, accounting, leadership, marketing, human resources, operations, and economics, all of which are crucial for a successful consulting career.

5. What are some consulting positions available for MBA graduates?

MBA graduates can pursue various consulting positions, including management consultant, financial consultant, business consultant, project manager, and consulting director. Each role offers competitive salaries and opportunities for career advancement.

6. Is consulting a growing industry?

Yes, the consulting industry is growing significantly. The management consulting market in the U.S. was valued at $329.66 billion in 2022, reflecting the increasing demand for consulting services across various industries.

7. What is the average salary for MBA graduates in consulting roles?

The average salary for MBA graduates in consulting roles is $78,912. However, salaries can vary depending on the specific consulting position and the individual's experience and skills.

8. How can I choose the right MBA program for a career in consulting?

To choose the right MBA program for a career in consulting, look for programs that offer courses and specializations relevant to consulting, such as finance, leadership, marketing, and human resources. Consider programs with strong industry connections, experiential learning opportunities, and a solid reputation in the business community.

9. Can I pursue an MBA online and still succeed in consulting?

Yes, many accredited online MBA programs provide the same quality education as traditional on-campus programs. Online MBA programs can be a cost-efficient and flexible option for gaining the necessary skills and knowledge to succeed in consulting.

10. What are the benefits of an MBA for career advancement in consulting?

An MBA provides advanced business knowledge, specialized consulting skills, and a strong professional network. It increases your employability, enhances your promotion prospects, and can lead to higher salaries and senior roles in consulting firms.

References

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