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 Consultancies Return to Mba Hiring.

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PostSubject: Consultancies Return to Mba Hiring.   Thu Oct 13, 2011 1:40 pm

Consulting remains a well-known career choice for MBA students and there is no shortage of work for him or her as demand for business school graduates keep increasing.

These days a top MBA is sort of a prerequisite in order to reach senior or actually mid-management levels at a number of the major consulting firms. The leading strategy consultancies in unique have redoubled their getting efforts: McKinsey hired over five hundred MBAs in 2005 all this figure was set to rise in 2006; Booz Allen Hamilton, BCG, Bain and IBM Consulting all hired over one hundred MBAs in 2005 plus were expecting increases once again in 2006. By comparison, the larger banks have been hiring as few as two hundred MBAs 1 year and the numbers with regards to the technology and business sectors are significantly reduce again.



According to the 2005 TopMBA. com Recruitment and Salary Survey, demand for MBAs in the consultancy sector rose by just a colossal 35% in just one year (June 2004-5), and it抯 a movement that looks set to continue. The dip in economy and also consulting market at the start of the decade meant that a great many consultants used the time to study for an MBA; now that the market is on the rise again, consultancies are hoping to these MBA graduates with prior consulting experience to meet their needs.

More MBAs retained from non-consulting backgrounds.

There are also an increasing number of MBA graduates who sadly are being hired from a fabulous non-consulting background. Cambridge University抯 Judge Business School, for example, reports that in 2005 only 13% of those entering a consulting vocation post-MBA had previous experience during the field. Similarly, at INSEAD Business School in France the number of graduates being hired directly into consulting from different wallpapers, such as industry, rose from 36% to 47% in one year (2003-4). What is behind the change? Consultancies are recognising this diversity and wealth regarding experience and expertise that candidates from a non-consulting background can deliver, particularly as the average age and work heritage of MBA students springs up. There is an increasing desire for consultants with specialist proficiency and knowledge and these attributes can often be acquired outside the referring with profession.

Strong UK market lures in more MBAs than anywhere else in Europe.

Demand for MBA graduates is particularly strong in the uk. The healthy economy plus policy to attract highly trained migrants make it the most popular destination for European MBA graduates. Overall the uk drew 23% of INSEAD scholars in 2005 and of them choosing to remain around western Europe, it attracted an enormous 37% (the next most desired destination being France together with 18% and Germany along with 8%).

Consulting remains a highly lucrative option for MBA graduates. According to the 2005 annual report within the London Business School, earnings for consulting jobs outweighed these in both finance and also industry, averaging at? 5, 000 per annum before bonuses. This compares with an average figure of? 8, 000 for those who found jobs in the finance sector and? 5, 000 for those in industry. Employees also received an average annual bonus of? 5, 000 and a sign-on bonus in the region of? 0, 500. Companies are also attempting to lure in the smartest graduates by offering a range of perks, from company cars to all-expenses-paid days out.

Lifestlye and choice are stronger motivations than paycheck.

Interestingly, though, the reason that are given by the majority of MBA graduates for having consulting their preferred career choice will not be high salaries. According to the students, the real motivation for creating the move into consulting is a career and lifestyle options it could possibly bring? the opportunity to find a stimulating and varied role with the opportunity to progress in different manuals.
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