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留学选校:Consulting Industry’s Top Feeder B-Schools  

2017-04-19 02:22:01|  分类: 学校与选校 |  标签: |举报 |字号 订阅

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留学选校:Consulting Industry’s Top Feeder B-Schools
 
BY: MARC ETHIER ON APRIL 10, 2017

 

 

On measure after measure, INSEAD continues to shine. The No. 1 school in both the 2016 and 2017Financial Times rankings and Poets&Quants’ 2016 international ranking, the Fontainebleau, France-based business school has moved into prime position as one of the world’s leading producers of consulting industry MBAs.

What’s not to love? INSEAD offers a brisk 10-month MBA in a scenic French location not far from Paris, along with a second MBA campus in Singapore, with top faculty and sterling placement results, among other perks. Now, over the last two years, the school has emerged as one of the top consulting feeder schools: In 2015, 43% of INSEAD’s graduates went into the consulting industry, and according to its 2016 employment report it has improved on those numbers, sending 46% of its newly minted MBAs into the industry. Looking at consulting jobs by function, INSEAD has almost reached the half-century mark, with 48% of grads going into the industry.

In hard numbers, INSEAD handily outdoes its U.S. competitors: In 2015, McKinsey alone took 102 INSEAD MBAs, BCG hired 72, and Bain scooped up 52. Last year McKinsey upped its investment to 125 INSEAD grads, while BCG took on 67, and Bain 48.

THE MEANING OF ‘PRESTIGE’

Management consulting has long been one of the most desirable jobs for newly minted MBA grads, and the standard offer from a prestige consulting firm leaves no question why: $145,000 to start (up $5,000 from 2015), with a $25,000 signing bonus (an amount that has stayed about the same since last year). That’s a nice way to begin to dig out of that debt bunker after two years of B-school.

But there’s another reason besides money that Bain, McKinsey, BCG, and Deloitte et. al are known as “prestige” firms: They are world-class, highly selective companies that offer a wide range of business challenges at a variety of companies and industries, and they can offer landing points around the globe. They may challenge employees with some of the longest work hours in the business world, but they also reward the intellectually curious, articulate, and analytical with opportunities to work side by side with some of the best and brightest professionals in business while partnering with many of the world’s largest multinationals, private equity firms, and Fortune 500 companies. It’s easy to see why the prestige firms often serve as a springboard for future business rock stars, chief executives at some of the largest corporations in the world.

And it’s easy to see why a school that annually sends a huge portion of its graduates to the A.T. Kearneys and Accentures and PwCs of the world would be an attractive destination for MBA applicants. Harvard, Wharton, Stanford, London Business School, and very few others have achieved the kind of self-perpetuating status other schools dream of, where a combination of brand, reputation, and — no question — sustained excellence keep the talent pipeline flowing. In the past few years INSEAD appears to have broken into that exclusive club.

U.S. SCHOOLS UP AND DOWN, BUT A BIT MORE DOWN

Last year’s Poets&Quants list of top U.S. consulting schools was topped, somewhat unexpectedly, by Emory University’s Goizueta School of Business, at 38% of grads going into the field. This year Emory took a step back, at 33%, while the University of Virginia’s Darden School of Business vaulted into the top spot with 38% of consulting MBAs. It’s probably no accident that Darden made its move under a new dean who came straight out of McKinsey & Co., where he had been a partner for many years. Following closely are Dartmouth College’s Tuck School of Business (36%), Columbia Business School (34.5%), and Northwestern University’s Kellogg School of Management (33%) and Emory.

In fact, of the 28 elite U.S. MBA programs examined by Poets&Quants, 14 increased their share of consulting grads in 2016 and 13 saw a drop, with one school (Duke University’s Fuqua School of Business, at 32%) staying even. However, the schools that saw a decrease saw more of a decrease — an average of 4.25% — while the schools that saw an increase saw a more modest one, at an average of 2.71%.

For many, the only numbers that matter have a dollar sign in front of them. Here’s where U.S. schools have a distinct advantage over their European counterparts. Of the 32 total schools P&Q looked at (including five in Europe), six had the highest reported median base salary of $145,000. Five of those also boasted the top reported median sign-on bonus of $25,000. Following that, another 12 schools reported a median base salary of $135,000 or more. All were in the U.S.

INSEAD came up well short of its U.S. competitors, at a median base salary for consulting of US$109,500 and a median bonus of US$24,500. London Business School reported a mean base salary of US$109,942. That’s largely a function of placement. More of the MBAs from INSEAD and London are landing jobs in countries, such as India, where the major consulting firms pay grads far less than they do in the U.S. and Western Europe.

 

Where Leading Consulting Firms Are Hiring MBAs

By all accounts, INSEAD is an MBA factory for leading consulting firms. That's true, in part, because a sizable portion of the hires are sponsored employees who return to their firms after graduating from the 10-month accelerated MBA program. The McKinsey total, for example, includes 75 new hires and 50 MBAs who returned to the firm.

School Bain McKinsey BCG Deloitte PwC Strategy& Accenture A.T. Kearney
MIT (Sloan) 17 26 14 6 2
Northwestern (Kellogg) 24 43 25 21 10 3 6
London Business School 15 33 34 2 7 4 7
Michigan (Ross) 8 16 14 14 24 12 7
Duke (Fuqua) 9 12 13 24 7 2
INSEAD 48 125 67 7 24 16 10
Chicago (Booth) 15 35 23 9 10 13 5
Dartmouth (Tuck) 18 21 9 7 10
Columbia Business School 28 62 28 24 26 9

Source: Business school employment reports Get the data

 

ON THE LOWER END OF THE SPECTRUM

Of the total 32 schools examined by P&Q, 12 boasted more than 30% of grads who went into the consulting industry; measured by function, that number inched upward to 15. Some schools lost a good chunk of their percentage from the year before: Notre Dame University’s Mendoza College of Business fell 8.5 points, from 20% to 11.5%; the University of Minnesota’s Carlson School of Management dropped 8 points, from 24% to 16%. Among the gainers, Washington University Olin School of Business was the clear winner, moving up 10 points, from 11% to 21%; Virginia Darden also impressed, going up 8.6 points, from 29.4% to 38%.

Which schools were the least successful in graduating consulting MBAs? That distinction again goes to Michigan State University’s Broad College of Business, which nevertheless went from 7.0% in 2015 to 10.9% in 2016. The Midwest may be experiencing a consulting drought, as several other regional schools landed in the lower end of the spectrum: Mendoza, Carlson, and Indiana University’s Kelley School of Business (16.8%).

In the elite ranks, Stanford University Graduate School of Business continues to underperform in consulting, rising 2 points from 14% in 2015 to 16% last year — not surprising considering its location smack dab in the middle of the tech/entrepreneurship hub of Silicon Valley. Probably for similar reasons, UC-Berkeley Haas School of Business saw a precipitous drop of 5.9 points, going from 25.0% to 19.1% in a single year.

SCHOOLS ON THE EXTREME END MAY BE OVERLY DEPENDENT ON A SINGLE INDUSTRY

Of course, there are two ways to look at these numbers. Schools that are on the extreme end of the spectrum are, in all likelihood, too dependent on the industry and lack greater diversity of recruiting across a wide span of industries.

At INSEAD, for example, nine of the school’s major employers last year were all consultants led by the three big global players, McKinsey & Co., Boston Consulting Group, and Bain & Co. In fact, those three prestige firms alone scooped up a remarkable 29.8% of the graduates who reported their career choices to INSEAD. Only three firms, all in technology, broke up the consulting party: Amazon, Microsoft and Google, which were among the dozen top employers (see Major Employers Of INSEAD MBAs In 2016).

Perhaps the most telling statistic is that INSEAD is a major net converter of students into consulting. While only 27% of incoming students come from consulting, 46% landed consulting jobs, a net gain of 19 percentage points. That is a switching-career rate that is more than double the next industry, media and tech, which attracted 19% of last year’s class.

A KEY REASON WHY INSEAD’S CONSULTING NUMBERS ARE OFF THE CHART

As is often the case at INSEAD, many of these graduates returned to their firms after picking up their MBA in the 10-month-long program. The McKinsey total, for example, includes 75 new hires and 50 MBAs who returned to the firm. At BCG, 26 of the 67 hires were of former employees, while at Bain 14 of 48 total hires had previously worked for the firm.

On the face of it, there’s nothing wrong with that. The returning employees are reimbursed for their education (an $87,000 plus benefit that is not reported in compensation totals), and the consulting firms only have to give up their employees for 10 short months with far less chance of losing a consultant to another career and industry. In a traditional two-year program, an MBA student would likely do an internship outside consulting with greater opportunity to transition out to something new and walk away from that big tuition-free benefit.

 

Consulting Class of 2016

Even amid the rise of tech and entrepreneurship in B-schools, consulting remains the top choice of MBAs — and INSEAD, like last year, is the top feeder school, with 240 MBAs going to McKinsey, BCG, and Bain alone.

School Consulting Hires by Industry Consulting Hires by Function Median Base Salary Median Sign-On Bonus
INSEAD 46.0% 48.0% $109,500 $24,500
Virginia (Darden) 38.0% 39.0% $135,771* $26,927*
Dartmouth (Tuck) 36.0% 40.0% $140,000 $25,000
London Business School 35.0% N/A $109,942* $40,751**
Columbia Business School 34.5% 38.1% $145,000 $25,000
Northwestern (Kellogg) 33.0% 33.0% $145,000 $25,000
Emory (Goizueta) 33.0% 38.0% $135,000 $25,000
Michigan (Ross) 32.2% 36.1% $144,000 $25,000
Duke (Fuqua) 32.0% 34.0% $140,000 $25,000
USC (Marshall) 31.0% 34.0% $135,000 N/A
Yale School of Management 30.8% 44.6% $140,000 $35,000**
MIT (Sloan) 30.5% 33.7% $144,000 $25,000
Georgetown (McDonough) 29.0% 33.0% $118,336* N/A
New York University (Stern) 28.5% 33.8% $140,000 $26,904*
Carnegie Mellon (Tepper) 27.5% 32.9% $135,000 N/A
Chicago (Booth) 27.5% 29.3% $145,000 $25,000
Pennsylvania (Wharton) 26.6% 31.2% $145,000 N/A
Harvard School of Business 25.0% 27% $145,000 $25,000
Vanderbilt (Owen) 25.0% 28.0% $132,500 N/A
Cornell (Johnson) 25.0% 29.0% $132,525* $29,362
IESE 24.0% 24.0% $74,596* $42,634*
Washington (Foster) 23.0% 22.0% $124,325* N/A
UCLA (Anderson) 21.4% 24.8% $140,000 $25,000
Texas (McCombs) 21.0% 23.0% $135,614* N/A
HEC Paris 21.0% 26.0% $98,915 $24,464
Washington (Olin) 21.0% 29.0% $120,000 N/A
UC-Berkeley (Haas) 19.1% 20.8% $142,000 $29,711*
IE Business School 19.0% 18.0% $86,155* N/A
North Carolina (Kenan-Flagler) 17.0% 26.0% $120,000 $22,500
Indiana (Kelley) 16.8% 20.0% $140,000 $22,000
Stanford Graduate School of Business 16.0% 24.0% $145,000 $25,000
Minnesota (Carlson) 16.0% 20.0% $134,308* $25,458*
Notre Dame (Mendoza) 11.5% 17.7% $97,500 N/A
Michigan State (Broad) 10.9% 9.40% $130,000 N/A

* Indicates a mean number ** Indicates average total "other" compensation
Source: Poets&Quants analysis of 2016 employment reports

 

 

以上内容摘自:

http://poetsandquants.com/2017/04/10/draft-consulting-industrys-top-feeder-schools/ 

 

 

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