Best Consulting MBA Programs

Best Consulting MBA Programs

Best MBA Consulting Programs

  1. Harvard University
    • Program Duration: 2 yrs.
    • Tuition fee: $76,410
  2. Columbia University
    • Program Duration: 2-year full-time MBA or 2-year part-time executive MBA
    • Tuition fee: $77,376 per year
  3. University of Pennsylvania
    • Program Duration: 20 mos.
    • Tuition fee: $84,830
  4. Dartmouth College
    • Program Duration: 2 yrs.
    • Tuition fee: $77,520
  5. University of California, Berkeley
    • Program Duration: 2 yrs.
    • Tuition fees: $69,814
  6. Duke University
    • Program Duration: 21 mos.
    • Tuition fees: $75,000
  7. Northwestern University
    • Program Duration: 2 yrs.
    • Tuition fees: $81,015
  8. Massachusetts Institute of Technology
    • Program Duration: 2 yrs.
    • Tuition fees: $84,350

Key Takeaways

  • MBA specializations in finance, marketing, or entrepreneurship are the best choices for a career in consulting.
  • The highest-paying consulting jobs are as a marketing consultant, with an average salary of $94,151 per year.
  • Major hubs like New York, London, or Chicago can be the best places for a successful career for consultants.

If you’re an aspiring consultant, the next big step in your journey is acquiring an MBA degree in the field. However, the widespread availability of the program may raise more questions than answers in your mind.

Well, don’t worry. We’ve rounded up the best consulting MBA programs so you can easily decide which one best aligns with your dreams! 

Woman signing documents, while the person seated beside her are sorting documents

Best Consulting MBA Programs

When choosing a business school to maximize your potential within consulting, there are a few factors to consider. Firstly, you may want to stay close to major consulting hubs like New York, London, or Chicago for easier networking. Also, you might consider talking to alumni for firsthand experience with consulting roles.

However, when exploring the best consulting MBA programs, you may dig into features like the median salary, tuition costs, or the percentage of consulting. We understand that it might be overwhelming, so we’ve put together the best consulting MBA programs along with the critical factors that can help you make an informed decision.

  1. #1

    Harvard University

    Cambridge , MA
    Other Rankings

    Tuition + fees

    $57K

    Acceptance

    3%

    Graduation

    98%

    Student body

    39K

    Median SAT/ACT

    1535/35

    Career Outlook for MBA degree at Harvard University

    Cost of Degree: $53,760
    Expenses: $26,277
    Starting Salary: $189,796
    Salary after 4 years: $232,442
    Cost Recoup Time: 5 years
    Paid back at 15% of annual salary
    • Accreditation: Yes (New England Commission of Higher Education) 
    • Graduates Employed at Graduation: 70.8%
    • Acceptance rate: 13.2%

    Overview of Harvard Business University 

    • Tuition fee: $76,410
    • Program Duration: 2 years
    • Percentage into consulting: 21%
    • Median Salary: $175,000

    What Do We Love About Harvard Business School?

    Founded in 1908, Harvard Business School has made leadership development the core component of its curriculum. HBS focuses on building the skills required to carry out different consulting roles successfully, such as career consultancy, financial consultancy, and strategy consultancy.

    The highlight of Harvard’s MBA in consultancy is its emphasis on peer learning and collaboration. This creates strong networks and fosters mutual growth, which paves the way for a great future in consultancy for you.

    • Harvard Business School is great for students who: Wish to build an extensive network in a prestigious institution since HBS is renowned for its reputation and extensive alumni network with tons of opportunities.
    • Harvard Business School might not be the best fit for those who: Prefer a less competitive environment since the MBA consulting program at Harvard is known for its demanding workload.
  2. #2

    Columbia University

    New York , NY
    Other Rankings

    Tuition + fees

    $66K

    Acceptance

    4%

    Graduation

    95%

    Student body

    37K

    Median SAT/ACT

    1535/34

    Career Outlook for MBA degree at Columbia University

    Cost of Degree: $54,627
    Expenses: $19,958
    Starting Salary: $157,731
    Salary after 4 years: $193,172
    Cost Recoup Time: 5 years
    Paid back at 15% of annual salary
    • Accreditation: Yes (AACSB International)
    • Graduates Employed at Graduation: 73.4%
    • Acceptance rate: 4%

    Overview of Columbia Business School

    • Tuition fee: $77,376 per year
    • Program Duration: 2-year full-time MBA or 2-year part-time executive MBA
    • Percentage into consulting: 33%
    • Median Salary: $175,000

    What Do We Love About Columbia Business School? 

    Located in New York City, Columbia Business School provides its students with tons of opportunities in the consulting field. This is why graduates from CBS excel in consulting roles, with a strong quantitative foundation developed over time. Nearly every class focuses on finance, which is the backbone of most consulting jobs out there.

    More so, graduates from Columbia Business School are proficient at sourcing, analyzing, and interpreting data.  

    • Columbia Business School is great for students who: Are looking for direct employment after the degree as about 90% of CBS graduates get employed within 3 months of graduation.
    • Columbia Business School might not be the best fit for those who: Prefer a comprehensive curriculum that includes classes in areas other than finance, especially leadership.  
  3. #3

    University of Pennsylvania

    Philadelphia , PA
    Other Rankings

    Tuition + fees

    $63K

    Acceptance

    7%

    Graduation

    96%

    Student body

    33K

    Median SAT/ACT

    1535/34

    Career Outlook for MBA degree at University of Pennsylvania

    Cost of Degree: $44,162
    Expenses: $22,286
    Starting Salary: $179,562
    Salary after 4 years: $219,909
    Cost Recoup Time: 4 years
    Paid back at 15% of annual salary
    • Accreditation: Yes (AACSB)
    • Graduates Employed at Graduation: 83.9%
    • Acceptance rate: 24.8%

    Overview of Wharton School of Business 

    • Tuition fee: $84,830
    • Program Duration: 20 months
    • Percentage into consulting: 34.1%
    • Median Salary: $175,000

    What Do We Love About Wharton School of Business?

    According to the US News Rankings, the Wharton School of Business ranks #1 among the best business schools in the US. Founded in 1881 and being a part of the Ivy League, it’s one of the oldest schools in town with a deep-rooted focus on the “give and take” concept, making its MBA in consulting a catch for many.

    The best part? Wharton’s two-year MBA program invites students from over 80 countries globally, facilitating great networking opportunities. These networks then pave the way for opportunities for mentorship, collaboration, and career growth on an international scale.

    • Wharton School of Business is great for students who: Want extracurriculars alongside a comprehensive MBA. Wharton has a diverse range of clubs, from athletic and social to cultural and professional.
    • Wharton School of Business might not be the best fit for those who: Despite its global reach, Wharton maintains a selective admissions process, with a competitive acceptance rate of 24.8%.
  4. Man explaining data reports to his colleagues at work
  5. #4

    Dartmouth College

    Hanover , NH
    Other Rankings

    Tuition + fees

    $63K

    Acceptance

    6%

    Graduation

    95%

    Student body

    7K

    Median SAT/ACT

    1540/34

    Career Outlook for MBA degree at Dartmouth College

    Cost of Degree: $61,056
    Expenses: $21,144
    Starting Salary: $150,363
    Salary after 4 years: $184,149
    Cost Recoup Time: 6 years
    Paid back at 15% of annual salary
    • Accreditation: Yes (New England Commission of Higher Education)
    • Graduates Employed at Graduation: 88.4%
    • Acceptance rate: 40.1%

    Overview of Tuck School of Business 

    • Tuition fee: $77,520
    • Program Duration: 2 years
    • Percentage into consulting: 46%
    • Median Salary: $190,000

    What Do We Love About Tuck School of Business?

    Founded in 1900, Tuck School of Business was established as the first graduate school offering a master’s in business administration. At this school, providing hands-on learning experiences to the students is the top priority. As soon as you complete your first-year project course, you may jump into the field to work as a consultant.

    Better yet, you can choose from over 100 electives once you’re in the second year. Additionally, the campus community at Tuck School is designed to promote collaboration, friendship, and relationship-building both inside and outside the classroom by assigning students to small study teams from the very beginning.

    • Tuck School of Business is great for students who: Wish to live in a close-knit residential community since the close proximity of off-campus residence makes socializing outside school easier.
    • Tuck School of Business might not be the best fit for those who: Prefer studying alone, since the university places exceptional focus on a collaborative learning environment.
  6. Other Rankings

    Tuition + fees

    $14K

    Acceptance

    11%

    Graduation

    94%

    Student body

    48K

    Career Outlook for MBA degree at University of California, Berkeley

    Cost of Degree: $14,476
    Expenses: $28,648
    Starting Salary: $123,871
    Salary after 4 years: $152,589
    Cost Recoup Time: 4 years
    Paid back at 15% of annual salary
    • Accreditation: Yes (AACSB)
    • Graduated Employed at Graduation: 75.4%
    • Acceptance Rate: 23%

    Overview of Berkeley Haas

    • Tuition fees: $69,814
    • Program Duration: 2 years
    • Percentage into consulting: 28.1%
    • Median salary: $192,000

    What Do We Love About Berkeley Haas? 

    The Berkeley Haas MBA program has a strong connection with consulting, attracting a huge fraction of students to establish a career in this field. On average, one out of four Berkeley Haas graduates jumps into consulting, producing top-tier talent in the industry. The best thing is, students can secure positions at leading consulting firms such as McKinsey, Bain, or Deloitte.

    However, what really sets Berkeley Haas apart is the Haas Consulting Group, exclusively designed for students wanting to build a career in consulting. With training sessions, networking opportunities, and other resources, the club helps you secure top-notch positions at leading consulting firms.

    • Berkeley Haas is great for students who: Prefer career help directly from industry specialists since they can join hands with experts to craft industry-specific resumes or navigate the complexities of the application process.
    • Berkeley Haas might not be the best fit for those who: Are looking for more campus facilities, since the resources at Haas are limited and the facilities may be subpar for some students.
  7. #6

    Duke University

    Durham , NC
    Other Rankings

    Tuition + fees

    $63K

    Acceptance

    6%

    Graduation

    97%

    Student body

    18K

    Median SAT/ACT

    1530/34

    Career Outlook for MBA degree at Duke University

    Cost of Degree: $61,522
    Expenses: $20,061
    Starting Salary: $156,230
    Salary after 4 years: $191,334
    Cost Recoup Time: 5 years
    Paid back at 15% of annual salary
    • Accreditation: Yes (AACSB and SACSCOC)
    • Graduates Employed at Graduation: 86.6%
    • Acceptance rate: 22.1%

    Overview of the Fuqua School of Business 

    • Tuition fees: $75,000
    • Program duration: 21 months
    • Percentage into consulting: 32%
    • Median salary: $175,000

    What Do We Love About Fuqua School of Business? 

    Founded in 1969, Fuqua School of Business is on most students’ radar for its MBA consulting program, and for good reason. With over 16 concentrations to choose from, you can customize your curriculum to align with specific career goals. Unlike traditional programs, Fuqua’s curriculum has fewer core classes, letting you choose electives sooner.

    Through projects, case studies, and simulations, FBS challenges students to apply their theoretical knowledge to real-world business scenarios. The cherry on top is that Fuqua’s student community can stay on campus over the weekend and build support networks to advance their careers in specialized MBA degrees.

    • Fuqua School of Business is great for students who: Prefer cross-cultural interactions, since FSB brings together people from different regions, including Asia, Latin America, Europe, and North America.
    • Fuqua School of Business might not be the best fit for those who: Want top-ranking schools since Fuqua ranks slightly lower compared to others on the list.
  8. Woman smiling widely while she's in a meeting with her boss
  9. Other Rankings

    Tuition + fees

    $63K

    Acceptance

    7%

    Graduation

    97%

    Student body

    27K

    Median SAT/ACT

    1530/34

    Career Outlook for MBA degree at Northwestern University

    Cost of Degree: $53,024
    Expenses: $25,926
    Starting Salary: $127,440
    Salary after 4 years: $156,075
    Cost Recoup Time: 6 years
    Paid back at 15% of annual salary
    • Accreditation: Yes, AACSB
    • Graduates Employed at Graduation: 85.6%
    • Acceptance rate: 33.3%

    Overview of the Kellogg School of Management  

    • Tuition fees: $81,015
    • Program duration: 2 year
    • Percentage into consulting: 41.91%
    • Median salary: $190,000

    What Do We Love About Kellogg School of Management?

    Kellogg School of Management is yet another fantastic choice for aspiring consultants to pursue their MBA. If you’re into research work, KSM has your back with multiple researchers who have made huge contributions to different fields.

    Plus, the curriculum is designed to provide students with a well-rounded learning experience through team projects, case studies, lectures, and experiential learning. The good news, however, is that you may even complete the MBA program within a year by completing courses throughout the four quarters.

    • Kellogg School of Management is great for students who: Want more student-faculty interactions. At Kellogg School of Management, students join hands with professors to hold several conferences throughout the program tenure.
    • Kellogg School of Management might not be the best fit for those who: Are looking for specializations in different fields, since Kellogg has a relatively narrower curriculum than other schools on the list.
  10. Other Rankings

    Tuition + fees

    $58K

    Acceptance

    4%

    Graduation

    95%

    Student body

    13K

    Median SAT/ACT

    1555/35

    Career Outlook for MBA degree at Massachusetts Institute of Technology

    Cost of Degree: $61,075
    Expenses: $21,864
    Starting Salary: $209,580
    Salary after 4 years: $256,672
    Cost Recoup Time: 4 years
    Paid back at 15% of annual salary
    • Accreditation: Yes (AACSB)
    • Graduates Employed at Graduation: 80.5%
    • Acceptance rate: 17.8%

    Overview of the Sloan School of Management  

    • Tuition fees: $84,350
    • Program duration: 2 year
    • Percentage into consulting: 33.7%
    • Median salary: $190,000

    What Do We Love About Sloan School of Management?

    Founded in 1914, Sloan School of Management has managed to remain among the top graduate institutions in the US. Located in Cambridge, Sloan gets most of its spotlight from the academic community around, with 59 other colleges located nearby. Plus, it’s known for offering dual degree programs and conducting frequent research.

    MIT Sloan uses the popular case method, combining lectures, team projects, and hands-on action learning labs to build an engaging learning environment. With a total of 144 elective units available, students can choose from many offerings designed to provide real-world learning experiences and specialized knowledge in their desired areas of focus.

    • Sloan School of Management is great for students who: Perform better in collaborative environments. MIT Sloan groups students into six cohorts, depending on their interests, which connects them to other students.
    • Sloan School of Management might not be the best fit for those who: Don’t perform well under pressure, since Sloan School of Management has a pretty high workload when it comes to their MBA programs.
  11. Man pointing to a laptop's monitor while talking with a colleague
    Back to Top

    Skills Required For Consulting Jobs

  12. Let’s be real, being a great entrepreneur won’t automatically qualify you as a good consultant. Instead, there’s a separate skill set you need to develop for consulting success, especially if you prefer working solo over collaboration. Here’s a quick rundown of the key skills required for consulting jobs:

    • Effective communication
    • A broad perspective
    • Strong collaboration/teamwork skills
    • Proficiency in utilizing digital tools
    • Analyzing and resolving business cases
    • Addressing intricate issues
    • Improvisation

    While these are the basic skills you need to possess to qualify for top consulting positions, these alone won’t suffice. To make sure you’re the right candidate, it’s equally important to be intellectually curious and willing to learn more.

    Related Questions

    What MBA major is best for consulting?

  13. For aspiring consultants, management consulting and strategic management are top MBA picks for specialization. Additionally, they may specialize in finance, marketing, or entrepreneurship for added expertise. It boils down to your long-term career and financial goals.

    What is the highest-paying consulting job?

    Some of the highest-paying consulting jobs include a Marketing Consultant with an average salary of $94,151 per year, an Associate Consultant with a salary of $98,320 per year, and an HR Consultant with a median annual salary of $75,018 per year.

    Do I need a master’s degree for consulting?

    While a bachelor’s degree in business management or a relevant area is the minimum requirement for consulting, people with an MBA quickly gain an advantage over others. This is because most high-paying consultancy jobs require a master’s degree.

  14. Conclusion

    After knowing the best consulting MBA programs, it’s time to pick the school that best serves your interests. While it may be daunting, checking for factors like percentage consulting, median salaries, networking opportunities, and institute reputation and accreditation beforehand can help you build a fruitful career in consulting!

Do you have a question about this topic? Ask it here