Top Business Schools by Employability in Consulting

This post is authored by Carolyn C. Wise, Vault.com’s Senior Education Editor.  She oversees the production of 10 annual guides covering undergraduate and graduate admissions, top internships, and career advice compilations for entry-level law and MBA job seekers.  Her team is responsible for all educational content on Vault.com, including law school profiles, admissions advice, GMAT prep and business school industry trends articles.  Carolyn reminds students that, “studying is important, but it isn’t everything. Volunteer, or join a club or sports team. This will make you happier overall—and more attractive to potential employers.”

Lots of MBA students start business school planning to get a job in consulting after graduation (whether they actually wind up pursuing one or not).  For them, consulting is either a career path in itself or a way to learn the skills required to break into another industry.  So knowing which business schools will help you get a job at the top consulting firms is valuable knowledge before you matriculate.

Consulting is a diverse industry, not only in definition but also in practice, as consultants can work on a health care project one week and an education one the next.  Therefore, there is no one, ideal applicant.  The skills necessary to succeed as a consultant are not specific to the industry–problem solving, decision making, etc.–there is no Consulting 101 (though there are consulting-oriented offerings).  Although business schools provide employment statistics of the number of graduates who enter the consulting field, no business school ranking specifically addresses graduates’ employability in the industry.  So which business school graduates the most consultants?

This year, we surveyed over 4,500 consultants from firms across the country and asked them where they received their MBA.  Using Vault’s career expertise, we’ve ranked business schools based on the number of consultants who graduated from each school.

Top 10 Business Schools by Employment in Consulting Nationally

1.  Northwestern University (Kellogg School of Management)

2.  Harvard University (Harvard Business School)

3.  University of Chicago (Booth School of Business)

4.  University of Pennsylvania (The Wharton School)

5.  University of Michigan (Ross School of Business)

6.  Columbia University (Columbia Business School)

7.  Duke University (Fuqua School of Business)

8.  Massachusetts Institute of Technology (Sloan School of Management)

9.  Stanford University (Graduate School of Business)

10.  New York University (Stern School of Business)

Top business schools are more national than law schools

 The top 10 business schools by employability nationally are the schools that graduated the most consultants overall.  Unlike law schools, these top business schools also have a very strong foothold in regional markets.  Harvard Business School, for example, makes it into the top 5 lists in four of eight regional lists (50 percent), and into the top 5 list for every major U.S. city (100 percent).  Even in Texas, where alumni networks are very loyal (none of the top 5 Texas law schools were out-of-state), HBS and Northwestern hold the No. 2 and No. 3 spots.  So no matter where you want to work after graduation, attending a top nationally ranked school will get you there.  (Even in Europe, the consulting market is dominated by the top two schools in the continent: INSEAD and London Business School.)

But what if you can’t get into HBS, Wharton or Stanford?  Among law schools, there are highly employable regional schools in each market that are not ranked as highly nationally (Brooklyn Law School and Fordham School of Law in NYC, for example).  These regional schools are also often cheaper and have strong alumni networks.  Unfortunately, there don’t seem to be the same strong regional business schools for consulting.

Top 5 Business Schools by Employability in Consulting by Region

Texas

1.  University of Texas at Austin (McCombs School of Business)

2.  Harvard University (Harvard Business School)

3.  Northwestern University (Kellogg School of Management)

4.  Rice University (Jesse H. Jones Graduate School of Management)

4.  Southern Methodist University (Cox School of Business)

Mid-Atlantic

1.  University of Pennsylvania (The Wharton School)

2.  Duke University (Fuqua School of Business)

2.  Northwestern University (Kellogg School of Management)

4.  Carnegie Mellon University (Tepper School of Business)

5.  Massachusetts Institute of Technology (Sloan School of Management)

5.  University of Chicago (Booth School of Business)

Midwest

1.  University of Michigan (Ross School of Business)

2.  Carnegie Mellon University (Tepper School of Business)

3.  University of Pennsylvania (The Wharton School)

4.  Northwestern University (Kellogg School of Management)

4.  University of Chicago (Booth School of Business)

Southern California

1.  UCLA (Anderson School of Management)

2.  Northwestern University (Kellogg School of Management)

2.  University of Pennsylvania (The Wharton School)

4.  Stanford University (Graduate School of Business)

4.  University of Chicago (Booth School of Business)

5.  Harvard University (Harvard Business School)

5.  University of Southern California (Marshall School of Business)

Silicon Valley

1.  Stanford University (Graduate School of Business)

2.  University of California, Berkeley (Haas School of Business)

3.  Massachusetts Institute of Technology (Sloan School of Management)

3.  University of Michigan (Ross School of Business)

Southwest

1.  Emory University (Goizueta Business School)

1.  Harvard University (Harvard Business School)

2.  Duke University (Fuqua School of Business)

3.  University of Pennsylvania (The Wharton School)

4.  University of North Carolina at Chapel Hill (Kenan-Flagler Business School)

4.  University of Virginia (Darden School of Business)

Pacific Northwest

1.  University of Washington (Michael G. Foster School of Business)

2.  University of Michigan (Ross School of Business)

3.  Northwestern University (Kellogg School of Management)

3.  Seattle University (Albers School of Business and Economics)

3.  University of Chicago (Booth School of Business)

3.  University of Texas at Austin (McCombs School of Business)

Northern California

1.  Stanford University (Graduate School of Business)

1.  University of California, Berkeley (Haas School of Business)

1.  University of Pennsylvania (The Wharton School)

4.  Harvard University (Harvard Business School)

5.  Northwestern University (Kellogg School of Management)

What business school to apply to in your area

True, the most employable business school in each region and city is always the highest nationally ranked school located in the region.  To wit: UT Austin tops the Texas list, University of Michigan the Midwest, Stanford Silicon Valley and Northern California, UCLA Southern California, University of Pennsylvania the Mid-Atlantic and University of Washington the Pacific Northwest.  Cities are in the same boat, with HBS at the top of the Boston and New York lists, UVA the D.C., Northwestern the Chicago and Emory the Atlanta.  Like the law school employability rankings, it is not only their rank that makes graduates from these schools secure jobs in the area.  Access to local companies for internships and jobs makes it easier to build relationships with potential employers while still in school, and alumni networks are always strongest in the cities closest to campus.  However, once you go past that No. 1 business school, the usual national players dominate again.

Top 5 Business Schools by Employability in Consulting in Major Cities

New York

1.  Harvard University (Harvard Business School)

2.  Columbia University (Columbia Business School)

3.  New York University (Stern School of Business)

4.  University of Pennsylvania (The Wharton School)

5.  Northwestern University (Kellogg School of Management)

Washington, D.C.

1.  University of Virginia (Darden School of Business)

2.  University of Pennsylvania (The Wharton School)

3.  Northwestern University (Kellogg School of Management)

4.  Carnegie Mellon University (Tepper School of Business)

4.  Georgetown University (McDonough School of Business)

4.  Harvard University (Harvard Business School)

Boston

1.  Harvard University (Harvard Business School)

2.  Massachusetts Institute of Technology (Sloan School of Management)

3.  Dartmouth College (Tuck School of Business)

4.  University of Pennsylvania (The Wharton School)

5.  University of Chicago (Booth School of Business)

Atlanta

1.  Emory University (Goizueta Business School)

2.  Harvard University (Harvard Business School)

3.  Duke University (Fuqua School of Business)

4.  University of Pennsylvania (The Wharton School)

5.  University of North Carolina at Chapel Hill (Kenan-Flagler Business School)

5.  University of Virginia (Darden School of Business)

Chicago

1.  Northwestern University (Kellogg School of Management)

2.  University of Chicago (Booth School of Business)

3.  University of Michigan (Ross School of Business)

4.  Harvard University (Harvard Business School)

5.  DePaul University (Charles H. Kellstadt Graduate School of Business)

If you can’t get into HWS, it’s a safer plan to go to another well-ranked national school, particularly those with a more technical reputation.  Carnegie Mellon, for instance, or perhaps UT Austin.  The top region and region MBA programs are very competitive, probably just as competitive as HWS if you’re an in-state applicant.  Since the recession, there has been a flight to quality in terms of where companies recruit.  This is particularly true among business schools.  It may not be worth your $150,000 to attend a lower-ranked business school.  But that doesn’t mean you should scratch an MBA off your list forever.  MBA programs have a structured application process for re-applicants–you won’t be penalized for giving it a second try.  In fact, with more experience under your belt, you may have a better chance at admission.  Good luck!