MBA Programs That Might Interest You

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An MBA in consulting is typically a two-year program that offers students a high level of analytical, business and general management skills. MBA in consulting programs will also focus on specific areas such as finance consulting, IT consultancy, marketing consulting and supply chain management. The majority of B schools offer a selection of courses in management, but an MBA in consulting may be preferable for those who want to specialize in more practical areas like finance. Students not only learn how to be professional consultants but also gain qualifications from accredited institutions.

An MBA in consulting degree is designed to give a broad education which can be supplemented by further training and experience beyond graduation. This degree prepares you for leadership roles in business and management, providing participants with the skills required to succeed at senior levels of organizations.

Many experts see the future of business being driven by the demand for business consulting services, leading to greater job opportunities in this field. With an MBA in consulting degree you will develop a strong foundation of general management skills and learning which can be applied across various industries. You will be equipped with the know-how to lead others through strategic planning, decision making and organizational leadership.

Product and service lines in the consulting industry are diverse, ranging from financial to management consulting. To help position yourself for a particular career path, it is suggested that you choose your electives wisely. It will be important to take into consideration things such as company size and structure, client base or personality style when deciding on elective courses to pursue an MBA in consulting. Below are some of the career paths which you could choose to pursue with an MBA in consulting:

Where Do MBA Consultants Work?

  • Finance Consultants primarily assist in strategic planning for financial services such as banks, investment and insurance companies, assist in solving problems with budgets by providing research or analysis of the client’s budget process and advise clients on new products that could be offered within their portfolio, such as credit card offerings, loans or other financial services.
  • IT Consultants are skilled at collecting and analyzing information that has been requested by clients about their IT systems. They provide assistance in all aspects of the design, development and implementation of computer hardware or software solutions for their clients’ companies, and their research may focus on specific business areas such as e-commerce.
  • Market Research Consultants provide consulting firms with the information required to conduct market research. The main duties of a market research consultation company include designing questionnaires, managing focus groups and analyzing results, and market researchers may have interests in general management or specialize in areas such as marketing, finance, media or corporate strategy development
  • Human Resource Consultants help to maximize employee performance through training, development and the implementation of new HR policies. They assist in making personnel decisions such as recruitment processes, compensation plans and benefit programs; and they can offer advice on human resource information technology or they may outsource this work to consultants who specialize in these areas.
  • Environmental Management Consultants analyze data such as pollution levels and discharges in order to help companies develop strategies to remain compliant with environmental laws and regulations. Their research is often focused on specific areas including water, air or waste management; and some environmental consultants may also work in a specialized area like hazardous or solid waste management.
  • Investment Banking Consultants make recommendations about the types of companies that should be acquired, restructured or sold. They may work with private equity firms, mergers and acquisitions specialists or venture capital investors to help with business transactions like initial public offerings or sales of previously private companies.
  • Marketing Consultant assist in the development and implementation of strategies to increase sales or market share. They may also be responsible for conducting research that involves surveying potential customers, analyzing demographic data or studying competitors’ marketing techniques. Marketing consultants must develop marketing plans based on customer’s needs, promote new products into a companies pipeline.
  • Sales Consultants will assist with marketing strategies that are based on the identification of a company’s sales targets, and They work directly with clients to improve their performance relative to their financial goals.
  • Technical Consultants help companies with specific IT or computer-based solutions that are not designed by in-house programmers or technicians. Their research is often focused on specific areas including e-commerce, software development, wireless technologies or the design of consumer appliances.
  • Project management consultants work with clients to help them develop strategies that will improve performance relative to their financial goals. They will work to develop the best strategies for a client; and often responsible for implementing the plans that they design.

What Qualities Make a Successful Career in Consulting

Consulting is a broad term that covers any professional service offered by business experts. Consulting can play a role in almost all businesses today, and it is becoming more accepted as an essential part of the business environment. Business consultants typically provide advice to decision makers and help them develop strategies to improve their organization’s competitive advantage. An MBA degree gives you the opportunity to develop your skills and knowledge in this growing area. The demand for consultants is high, with thousands of professionals employed globally every year. Industries like IT, telecommunications and finance are some of the biggest employers, but many organizations also hire consultants in areas such as marketing and human resources management. It is possible to become an independent consultant after gaining a few years of experience. This is a popular career choice for those who want to work on their own terms and with little supervision, but most business consultants are employed by well-known organizations or consulting firms.

Make the Most of Your MBA Consulting Degree

Consultants play an important role in the business world and are paid well to do it. Depending on a variety of factors, they can earn between $50,000 and $200,000 annually. Consulting is a growing field that is expected to continue being lucrative for many years into the future. As more businesses realize the benefits of hiring consultants, it will be even more popular than it is today. Below is a list of the top benefits and reasons to pursue an MBA in consulting:

  • Keep your Skills Sharp – Business consultants are hired by organizations with problems. These companies often have issues that require superior problem solving skills and experience. This can keep your abilities sharp and give you valuable insight into how businesses operate.
  • Management Level Experience – When joining a consulting firm, you will be working with people who have experience in the field of management. This is a great opportunity to learn from professionals by observing them in action. You can also gain valuable leadership skills and obtain new insights that can help you advance your career.
  • Grow Your Network – Consultants are considered the “go to” experts when a company is looking to solve problems. This puts you in an excellent position to make connections that can lead to new opportunities. You will be working with like-minded people who share your goals and objectives, which can create lasting relationships.
  • Learn New Skills – Consulting companies frequently hire experts in various industry fields, and they provide ample opportunity for training and development. You might be able to develop skills that will set you apart from other professionals in your field.
  • Stay Current – As businesses continually evolve, it’s important to keep up with changes in technology and marketing strategies. Consulting firms are constantly changing along with them, which gives access to new knowledge and opportunities. Many consulting firms have strong partnerships within industries like IT, telecommunications, engineering and transportation, so the information available is always current.

The cost of getting an MBA in Consulting differs wildly depending on the program you chose. Earning an MBA from the lowest-cost campus program in the U.S., 2021 Best MBA Programs in Consulting – GMAT Scores, Salaries, Rankings, will set you back only N/A if you live in-state. At this price, earning an advanced degree seems like an exceptional investment in your career. A degree from country’s most expensive campus MBA program, 2021 Best MBA Programs in Consulting – GMAT Scores, Salaries, Rankings, will cost you N/A. A 2021 Best MBA Programs in Consulting – GMAT Scores, Salaries, Rankings MBA degree will need to earn you a big jump in salary to pay for itself.

25 Lowest and Highest GMAT Scores for MBA in Consulting Programs

The GMAT is a standardized exam that tests you on four basic areas: analytical writing, integrated reasoning, section-level mathematics, and the verbal section. This post will focus on the verbal section, but a similar post about the other sections will be coming soon.

Starting with the basics, the GMAT is required by most MBA programs (although not all of them). This is a good start point for many business school applicants. It tests your knowledge of reading comprehension, critical reasoning, sentence correction, and word problems. If you are hoping to get a high score, there are a few

It’s important to keep in mind that not all business schools require a GMAT score for admissions, but most competitive programs do. If you happen to have your heart set on a list of elite schools, it is recommended that you take the time to study seriously for your exam and boost your score accordingly.

While there are many other requirements for applying to B-schools , like a good GPA or professional experience, I feel as though the first thing they look at is clearly the GMAT exam. The average score for full-time MBA programs in Consulting is 556 compared to an average online MBA program score of 549 – so be sure to check before deciding if online learning will get you the results you need!

The lowest average on-campus GMAT Score is 450 compared to the highest average GMAT Score of 730 for traditional MBA in Consulting programs.

If you plan on attending an online MBA program, the GMAT range is between 629 to 713.

25 Least and Most Expensive MBA in Consulting Programs

MBA is a dream for many people. To study at a reputable school and get the right education is not just a dream but a top priority. The unfortunate truth is that studying at one of these programs come with a lot of cost. These costs include tuition fees, books, food, accommodation, transport, entertainment, and other living expenses.

Searching for an affordable MBA program that doesn’t require you to take out a loan? There are plenty of options out there, whether you’re looking for an online MBA or a traditional program. But you can still get a great education on a budget. Here are the top 25 most affordable and most expensive MBA programs.

25 Least Expensive Campus MBA Programs

  1. The University of Alabama - $10,780.00
  2. Auburn University at Montgomery - $11,910.00
  3. Brigham Young University - $13,450.00
  4. University of North Carolina Wilmington - $15,855.00
  5. University of Connecticut - $16,256.00
  6. Kennesaw State University - $17,690.00
  7. University at Buffalo, State University of New York - $18,898.00
  8. Central Michigan University - $20,125.00
  9. The University of Tampa - $21,000.00
  10. East Tennessee State University - $21,132.00
  11. Indiana University Bloomington/Indianapolis - $26,265.00
  12. University of Florida - $26,473.00
  13. The Pennsylvania State University - $26,938.00
  14. Binghamton University - $29,400.00
  15. University at Buffalo - $29,991.00
  16. University of Utah - $30,000.00
  17. University of Missouri - $30,987.00
  18. The Ohio State University - $31,139.00
  19. The University of Georgia - $31,736.00
  20. Michigan State University - $31,867.00
  21. University of Louisville - $32,000.00
  22. Louisiana State University - $36,800.00
  23. University of California, Davis - $39,568.00
  24. University of Tennessee at Knoxville - $40,114.00
  25. Indiana University Bloomington - $44,246.00

25 Most Expensive Campus MBA Programs

  1. University of California, Berkeley - $117,444.00
  2. The University of North Carolina at Chapel Hill - $102,404.00
  3. University of Maryland - $94,162.00
  4. Columbia University - $77,376.00
  5. University of Minnesota - $76,416.00
  6. Dartmouth College - $75,108.00
  7. New York University - $74,184.00
  8. Harvard University - $73,440.00
  9. Yale University - $72,350.00
  10. Duke University - $70,000.00
  11. College of William and Mary - $69,496.00
  12. Cornell University - $69,440.00
  13. Temple University - $66,076.00
  14. The University of Michigan - $66,048.00
  15. Emory University - $65,400.00
  16. University of Virginia-Darden - $65,350.00
  17. University of Southern California - $65,340.00
  18. University of California, Los Angeles - $65,114.00
  19. University of Washington - $64,782.00
  20. Washington University in St. Louis - $62,050.00
  21. University of Miami - $61,868.00
  22. Georgetown University - $59,700.00
  23. Georgia Institute of Technology - $59,016.00
  24. Vanderbilt University - $58,400.00
  25. Arizona State University - $58,300.00

How Much Do MBA Consultants Earn?

MBA programs report what their students earn after graduation. We’ve compiled these numbers and offer them here as a broad guideline.

What can you expect to earn after graduating? The average salary for an MBA holder is $120,000 per year. This figure varies depending on your industry choice as well as job function, what school you attended, previous work history, where you live and work along with dozens of other factors. For example, accounting executives make over $170,000 annually while consultants earn around $105,000 per year.

A new graduate who works as a management associate at a large company is likely to start out with an annual salary of about $48,600. If you have a strong resume, experience in the field, along with recommendations from previous employers, you are likely to earn more than this as an entry-level salary. It is possible to get hefty pay raises if you receive promotions throughout your career. There is also potential for additional perks like bonuses or profit sharing that can help increase your overall earnings.

The following salaries are reported by the schools from all its MBA students and not confined to an MBA in Consulting.

Lowest Average MBA Salary After Graduation

  1. East Tennessee State University - $64,862.00
  2. Kennesaw State University - $65,000.00
  3. Central Michigan University - $69,942.00
  4. University of Louisville - $71,512.00
  5. University of Washington Bothell - $72,250.00
  6. University at Buffalo, State University of New York - $73,729.00
  7. The University of Tampa - $74,558.00
  8. Brigham Young University - $75,000.00
  9. Binghamton University - $78,000.00
  10. University of Missouri - $78,000.00
  11. Louisiana State University - $83,500.00
  12. Auburn University at Montgomery - $85,803.00
  13. Boston University - $86,163.00
  14. University of Miami - $87,317.00
  15. College of William and Mary - $87,480.00
  16. University of Utah - $89,400.00
  17. University of Tennessee at Knoxville - $90,000.00
  18. Purdue University - $91,491.00
  19. University of Minnesota - $91,665.00
  20. Indiana University Bloomington - $92,867.00
  21. Indiana University Bloomington/Indianapolis - $92,867.00
  22. The University of Alabama - $96,000.00
  23. The Ohio State University - $97,626.00
  24. Arizona State University - $99,000.00
  25. University of California, Davis - $99,969.00

Highest Average MBA Salaries After Graduation

  1. Cornell University - $143,750.00
  2. Harvard University - $134,071.00
  3. Columbia University - $125,000.00
  4. University of Virginia-Darden - $124,684.00
  5. Dartmouth College - $123,900.00
  6. The University of Michigan - $123,000.00
  7. University of Southern California - $122,634.00
  8. University of California, Berkeley - $122,488.00
  9. Duke University - $121,283.00
  10. University of California, Los Angeles - $121,250.00
  11. University of Washington - $119,904.00
  12. Boston College - $119,818.00
  13. Emory University - $117,719.00
  14. Yale University - $116,395.00
  15. University of Rochester - $116,000.00
  16. Washington University in St. Louis - $113,994.00
  17. Vanderbilt University - $113,205.00
  18. Georgetown University - $112,501.00
  19. University of Notre Dame - $111,850.00
  20. The Pennsylvania State University - $109,000.00
  21. New York University - $108,053.00
  22. Georgia Institute of Technology - $106,115.00
  23. Michigan State University - $105,963.00
  24. Temple University - $105,000.00
  25. The University of North Carolina at Chapel Hill - $104,649.00

List of MBA Programs in Consulting from Lowest to Highest Tuition

  • In-Person MBA Consulting Programs Offered: 62
  • Online MBA Consulting Programs Offered: 25

The Master’s in Business Administration (MBA) in consulting might be the right choice for you if you are interested in making a career change and gain more practical skills. A MBA in consulting program will teach you how to become a consultant, including the business aspects of management. You’ll learn how to work effectively with others, communicate with clients and market both yourself and your company’s services to different industries.

Students of MBA in consulting programs will also learn how to manage time and budgets, along with effective organizational skills. Some MBA in consulting classes may resemble those you would find at a typical business school, although they will have a more specific focus on real world applications. Other courses might be more practical and deal with the actual process of becoming a consultant.

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Data sources: MBA School Websites, IPEDS, National Center of Educational Statistics, U.S. Department of Education, Institute of Education Sciences (ERIC), Association to Advance Collegiate Schools of Business (AACSB), U.S. Bureau of Labor Statistics (BLS). US News, The Econominst, Forbes, Bloomberg Business Week, Financial Times.

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