More Berkeley Haas students in the Class of 2022 accepted jobs at top consulting firms this year, a trend fueled by a need for more corporate help with everything from staffing challenges to brand positioning.
About 28% of graduating full-time MBA students in the Class of 2022 have taken consulting jobs this year, an uptick from 25% for the last several years. Students also accepted more job offers earlier in the cycle, and acceptances are up at top firms including McKinsey & Company, Bain & Company, and Boston Consulting Group (BCG), said Chris Gavin, a relationship manager in consulting for the Berkeley Haas Career Management Group. “Consulting firms have been going all out with hires,” Gavin said.
Consulting is a top industry for MBA grads—second only to tech—for many reasons. Beyond the prestige of working at a top firm, the pay is excellent, with starting salaries averaging $158,000 plus sign-on bonuses that averaged $31,331 last year. Consulting firms also interview and hire on a predictable schedule—taking some of the stress and uncertainty out of the job search. They offer challenging assignments in great locations around the globe, and often serve as a springboard to careers in strategy and operations at big firms.
“Consulting is a great way to get high-level experience across a number of industries, be connected to the company at the C-level, and continue the MBA learning journey,” said Abby Scott, assistant dean of MBA Career Management and Corporate Partnerships. “You are thrown a lot of high-level, challenging assignments early in your career, there is a lot of variety in the work, and the compensation is fabulous.”
Kim Ayers, MBA 18, was recently promoted to strategy director at DocuSign, a position she said she would never have been offered if she hadn’t worked at McKinsey & Company first.
“My time at McKinsey gave me the external validation that was needed: People could see McKinsey (on my resume) and see that I had the right business skills and knowledge. It also gave me internal validation,” said Ayers, who came to Haas after working for nonprofit organizations.
“Going all out with hires”
The consulting industry is also unique in that it’s open to people from so many different career backgrounds, Scott said. “They love people who come from non-traditional fields, from the military to not-for-profit organizations to banking,” she said.
Brandon Ehlert, MBA 22, arrived at Haas thinking that he’d pursue real estate and perhaps return to the Four Seasons, where he worked before the MBA program, for a corporate job scouting new real estate prospects for the hotel chain.
But during his first year, he participated in Kearney, Deloitte, and Microsoft case competitions, which led to an interest in consulting and a career pivot. In those competitions, students tackle “a case that’s like a distilled version of a consulting project and provides a taste of what I would do in consulting.”
While interviewing for jobs during the pandemic felt uncertain, Ehlert said consulting, which schedules interviews and hires on a predictable schedule, offered a way to “minimize the uncertainty.” For Ehlert, the case competitions led to recruiting efforts, and an internship at Deloitte, where he accepted a job as a senior consultant in New York City.
“The hotel industry was narrow,” he said. “I thought consulting would open doors to other industries.”
Broadening a career
The appeal of a broader career also drew Shane Wilkinson, MBA 22, toward consulting.
Before coming to Haas, Wilkinson, who also holds a master’s degree in data science and predictive analytics, was a “Moneyball-style quant” who worked for the Dallas Cowboys coaching staff. “My draw towards getting an MBA was to get a broader business foundation because I was so focused in my career on the technical aspects,” Wilkinson said. “I didn’t see that as my future.”
Meeting fellow MBA students who worked in consulting sold him on the industry. “They have a certain level of professionalism,” he said. ”I admired their willingness to get things done.”
During the interview process, Wilkinson connected with a Haas alumnus who worked at BCG and helped him land an internship last April. “He passed my name along to the San Francisco office, which had a digital branch that aligned with my background,” he said. That led to a job at BCG Digital starting in January.
International appeal
For international students, consulting holds global appeal—whether they plan to stay in the U.S. after graduating or return home.
Crystal Ang, MBA 22, who accepted a consulting job with McKinsey after interning there, worked for the Singapore government before coming to Haas. For an international student, the visa sponsorship of a consulting firm is appealing, Ang said.
While attending coffee chats and case preparation workshops offered by the Haas Career Management Group and the student-run consulting club, she met Ehlert. The two began case prepping for interviews together during fall semester, and Ang ultimately received two offers from top firms.
She will join McKinsey’s San Francisco office as a generalist, apprenticing in different practice areas. “I’m so excited about this job and that I will be able to stay near the Haas community. I know my Berkeley MBA has prepared me for this next phase, and I’m excited to tackle whatever is next.”