AN ONLINE MBA SPECIALIZING IN STRATEGY AND CONSULTINGAN ONLINE MBA SPECIALIZING IN STRATEGY AND CONSULTINGAN ONLINE MBA SPECIALIZING IN STRATEGY AND CONSULTING
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The MBA concentration in Strategy and Consulting prepares students for careers in consulting and corporate strategy.
With a focus on experiential learning, students develop foundational and specialized skills that can position them for success, including:
Strategic management and leadership
Team collaboration and problem solving
“Not only did re-acclimating to academia help prepare me for the case study interview at Deloitte, but the material we were covering in class that very week was tailor-made for the problem described in my interview. I was able to apply both marketing and analytic concepts to break the case down.”
Scott Forsgren, Class of 2020 Senior Consultant, Deloitte
Career Outlook in Strategy and Consulting
The job outlook for consultants is promising. As businesses continue to evolve alongside new technologies and ideas, skilled consultants and strategy professionals are in high demand to help businesses become more efficient.
This demand has helped drive more consulting jobs and increased salaries for consulting experts.
Strategy and Consulting Job Market
The Bureau of Labor Statistics projects the consulting field will grow much faster than average from 2018 to 2028.
In 2018, the median annual salary for management analysts was $83,610—and the top 10% of all management analysts earned upwards of $152,760 annually.4
Analysts and consultants who work for consulting firms (versus those who are self-employed) often receive a yearly bonus in addition to their base salaries.
Business consultant salaries depend on:
Whether the consultant is self-employed or employed by a firm
The size, scope and reputation of their firm and client base
The consultant’s level of experience and intended career progression
Career Paths in Consulting
Students who earn an MBA with a focus in strategy and consulting develop the skills to thrive in a number of consulting and internal strategy roles, including:
These individuals help businesses in a wide range of fields improve big-picture processes, such as project management, team communication and operational efficiency.
These consultants develop expertise in a specialized field and act as mentors to businesses looking to gain a competitive edge in their industry.
Managers/Directors of Corporate Strategy
These individuals typically work with numerous departments within an organization, helping to devise strategy or implement change.
These professionals may consult for businesses full or part time and can often consult for multiple clients concurrently.
Boutique Consulting Firm Owners
These entrepreneurs develop and manage teams of business consultants that assist small businesses in accomplishing specified goals.
Common consulting roles and titles include:
Change Management Consultant
Consulting career paths vary by firm, and they depend on a candidate’s experience level, subject matter expertise, educational background and interests.
Below are a few examples of the tiers a consultant might expect to encounter as they advance in a firm:
Entry-Level and Early Career Opportunities
Candidates with an undergraduate degree are best suited to entry-level consulting roles (e.g., business analyst, junior consultant), while those with graduate degrees and more work experience are can pursue more advanced roles (e.g., senior associate).
Analysts and associates are often responsible for a specific workstream on a given project, which gives them an opportunity to hone their skills and adjust to their firm’s culture and management style.
Mid-Level Consulting Positions
Once consultants gain experience in associate or analyst positions, they can aspire to roles that require more leadership and people management prowess (e.g., engagement manager).
Consultants at this level may work with multiple clients and projects at one time, navigating the lines between day-to-day project leadership, big-picture strategic thinking and client relationship management.
Senior Management Roles
Firm leaders (e.g., associate partners, full partners and principals) are responsible for identifying and securing new clients and business opportunities.
These professionals play an important role in shaping the direction of the firm as a whole. In addition, they oversee multiple ongoing projects—where they may lean in to provide high-level direction—and maintain strong relationships with existing clients.
Strategy Consulting vs. Management Consulting
Management consulting is a broad term that usually encompasses many functional subsets, including strategy consulting. Other subset examples:
Marketing and sales
Mergers and acquisitions
The world’s largest management consulting firms must be able to offer breadth and expertise, as they often work with hundreds or even thousands of clients on projects that span functions, sectors and industries.
These big firms might compete with other big firms or smaller boutique firms that specialize in a particular subject matter (e.g., health care, public policy, energy).
Some clients will hire multiple consulting firms to address different types of issues within their organization. A single client may tap one firm to counter a specific operational challenge and simultaneously hire another firm for a high-level, strategy-driven initiative.
Important Consulting Capabilities
Consultants work in many different types of companies and environments, which means they need transferable skills that allow them to assess the needs of their clients.
Consultants must be well-versed in fact-based analysis. They should also know how to translate large quantities of complex information, such as data sets and financial information, into actionable insights.
Creative problem solving
Consultants should understand how to identify and evaluate the challenges at the heart of a given project, and work together with team members to develop solutions that align with client needs.
Efficiency and time management
Consultants often work long hours and some travel on a regular basis. With such strict schedule constraints, consultants must be efficient when it comes to balancing priorities.
Communication and interpersonal abilities
Consultants must be able to effectively communicate solutions, questions and ideas to many different stakeholders, including team members, supervisors and clients.
Learn Where Consulting Can Take You
Request information today to connect with one of our dedicated Admissions Counselors and see if a career in consulting is right for you.