The thought has crossed the minds of almost anyone breaking into consulting:  Should I get an MBA first? McKinsey Insights - Get our latest thinking on your iPhone, iPad, or Android device. With a 1 percent acceptance rate, ... At Harvard Business School he manages a 20-person team as president of a business group HBS calls a "section." There are currently no scheduled upcoming events. We've got articles, videos and forum discussions that provide answers to all of your test prep, admissions and college search questions. A Harvard MBA who served as an HBS admissions ambassador, she's an expert at shaping a person's business school candidacy. Join today for free help from, Update and perfect your resume and cover letter. McKinsey & Company is an American worldwide management consulting firm, founded in 1926 by University of Chicago professor James O. McKinsey, that advises on strategic management to corporations, governments, and other organizations. We use cookies essential for this site to function well. The acceptance rate for HBS 2019 admissions was 12%. Applying to top MBA programs? people from McKinsey get into Harvard Business School, and people from HBS get into McKinsey. If you have specific questions about deadlines or the application process, please do not hesitate to contact us. For many firms, no. You should research the training opportunities at a firm if that is important for you. You need to be good at telling your story to reflect those traits and skills. For many people, however, long-term goals are unclear and therefore not factored into consideration much. If you are reading this right now, that means you are likely already more motivated and qualified than most to apply to a consulting job. 5. Use minimal essential The most extensive MBA admissions analysis ever published. Digital upends old models. (e.g. The short answer is yes. Well, applications also went up, so the total acceptance rate for the class of 2010 and 2011 are identical (12%). This produces the paradoxical situation of consultants wishing they had some “unique work experiences” and non-consultants wishing they had consulting experience when applying to b-school. OK, so let’s say you are still set on getting an MBA. Further events will also be added throughout the year so please bookmark this page and check back for updates. How to perform such an assessment is outside the scope of this blog. MBA admissions and consulting. View entire discussion ( 17 … Deciding which business school to attend was an important decision, and so was joining McKinsey. The author of this article is a long-time team member of Management Consulted and has extensive experience in consulting and at bulge-bracket investment banks, including interviewing MBA applicants. The conclusion is simple: in most cases, if you are considering a consulting job, it is best to apply now (take advantage of our Resume/Cover Letter editing package to maximize your chances!). A new study of online students at Harvard Business School shows that an online course can help you get noticed by a headhunter, get a promotion or even shift jobs into new field People create and sustain change. Round 1 - 10% - 20% at Round 1, Round 2 - 10% - 30% . Get stories of our people & new job alerts once a week. This is for the MIT Sloan class of 2012 summer intern recruiting cycle and is based on some observed statistics and some anecdotal, as well as some conjecture (in other words, take it for what it's worth). Read this article to understand the meaning of acceptance rate and yield rate and get access to acceptance and yield rate of top 50 business schools. Please use UP and DOWN arrow keys to review autocomplete results. Firms like McKinsey and BCG tend to staff the teams at the client site for four days a week, typically Monday through Thursday, and then bring teams to the home office on Fridays. McKinsey sends many of its non-MBAs to a 3-4 week mini-MBA boot camp to learn the most important tools and concepts. He and the rest of the Accepted Team would be happy to provide the MBA admissions consulting, MBA essay editing, or bschool packages you need to put together the highest-impact application. Join today for free help from the experts - why wouldn't you? ;) (Much is made inside McKinsey about McKinsey analysts having a worse-than-average acceptance rate, and making HBS out to be anti-McK.) The acceptance rate for an academic journal is dependent upon the relative demand for publishing in a particular journal, the peer review processes in place, the mix of invited and unsolicited submissions, and time to publication, among others. Unleash their potential. That being said, if you choose your school and curriculum well, you could develop new perspectives to approaching business problems, and you can also improve your general teamwork/leadership skills, which always helps. Most people with a few years of work experience can find some way to explain how their past accomplishments relate in some way to business or consulting. This depends a lot on the school/curriculum you choose. If you have recently been accepted into a full-time US MBA program, you may be interested in learning more about our McKinsey Early Access program. Is consulting a stepping stone to business school, or is business school a stepping stone to consulting? Have you lead teams and demonstrated success in doing so? The answer also varies by region; for example, the Japan and Germany offices of global consultancies tend to have less MBAs among the top ranks. In general, top ten schools have lower MBA interview acceptance rates while schools ranked 11 to 20 have a higher acceptance rate for applicants who were interviewed. Licenses & Certifications You see, a lot of people look at admission rates, and draw a conclusion from that. Poets&Quants For Undergrads is devoted to news coverage of business schools, undergraduate business majors, college admissions advice, jobs & satisfaction for business majors. For instance, McKinsey has a pyramid structure where their incoming class each year has 30-40% fewer BAs compared to Associates + Your school matters. Under the leadership of Marvin Bower, McKinsey expanded into Europe during the 1940s and 1950s.In the 1960s, McKinsey's Fred Gluck—along with … A free inside look at McKinsey & Company salary trends based on 5799 salaries wages for 529 jobs at McKinsey & Company. This is a networking opportunity for pre-MBAs at selected full-time programs that typically has a spring application deadline. you love learning for learning’s sake even if it’s really expensive) Many MBAs comment that they only apply a portion of what they learned toward their actual consulting jobs. In 1993, 61% of new McKinsey recruits had MBAs, but that number is now down to less than half, which demonstrates that McKinsey believes it quickly trains non-MBAs to be consultants. Another key point: many people don’t realize that they can pursue a high-paying and fulfilling job with great training and advancement opportunities outside of McBain Group. Stay on top of the information you need to navigate the admissions process amid the COVID-19 pandemic. Get resources, advice, news. Our mission is to help leaders in multiple sectors develop a deeper understanding of the global economy. Harvard Business School. Additionally, assuming you didn’t do anything rude or unprofessional, firms will see your commitment if you re-apply later on. Visit our COVID-19 resource page. Round 3 - 20% - 50% for Round 3. Well, that’s true to an extent, but it’s not quite that simple. Finally, consulting firms often offer MBA-like training. You have more important long-term goals besides consulting (e.g. our use of cookies, and What would be the other 20% of candidates? MBA candidates in-between their first and second year may apply for an associate intern position—this is usually a 10-week internship during the summer. Learn more about cookies, Opens in new OK, so let’s say you are still set on getting an MBA. The worst thing that could happen is you use up a few dozen hours and end up being much more knowledgeable about consulting firms. As an example, CapGemini and Booz & Co. promote non-MBAs more readily than Bain and BCG. Erika Olson, a member of the Stacy Blackman Consulting team, will answer any MBA admissions question you have. Your Chances at Chicago Booth: Acceptance Rate & Other Factors If you’re wondering how difficult it is to get into the University of Chicago’s Booth School of Business, then you’ve come to the right place. Total Wharton MBA Applications for class of 2022: 7,158. starting an international trade company) and your own assessment shows that you need the MBA to serve those long-term goals. It is impossible, and also pointless, to estimate just how many consultants are applying to a school in a given year. Our mission is to help leaders in multiple sectors develop a deeper understanding of the global economy. hereLearn more about cookies, Opens in new Harvard Business School’s admission process is highly competitive and therefore, it boasts a low acceptance rate. Many candidates slave away to get into elite schools, assuming that entry into the school alone is sufficient to get into McKinsey or BCG. Each firm will train you anyway with the management frameworks and tools that you will need, and that training will be more directly relevant. ǁ. MBA Admissions Harvard Business School Spangler Welcome Center (Spangler 107) Boston, MA 02163 Phone: 1.617.495.6128 Email: admissions@hbs.edu Most transformations fail. Stay on top of the information you need to navigate the admissions process amid the COVID-19 pandemic. The third round of MBA applications is notorious for having a lower acceptance rate. MBA Program. According to a post on an online forum about MBB recruitment at a top 15 school, 300 students applied for jobs, 15-30 received calls for first-round interviews, 5-10 received calls for the second round, and two to five got offers. INSEAD (which sends roughly one-fifth of its students into McKinsey, BCG, and Bain every year) has once stated “We’re hoping the [number of students from consulting backgrounds] does not increase any further.” That even a consulting talent powerhouse like INSEAD wants to limit their consulting students shows just how much business schools value diversity. It will be extremely hard to get into an MBA program with little work experience (except for the unique, We've been there - breaking into consulting is hard. Rejection and acceptance rates for McKinsey, Bain & BCG jobs. Our flagship business publication has been defining and informing the senior-management agenda since 1964. The acceptance rate of McKinsey Quarterly is still under calculation. What about rejection and acceptance rates? You know that you’re interested in consulting, but you’re not sure if you can break in with your current credentials, and you think an MBA might help. people from McKinsey get into Harvard Business School, and people from HBS get into McKinsey. Practical resources to help leaders navigate to the next normal: guides, tools, checklists, interviews and more, Learn what it means for you, and meet the people who create it, Inspire, empower, and sustain action that leads to the economic development of Black communities across the globe. you spent 2 years successfully fighting AIDS in Africa and you have a 760 GMAT score). Harvard Business School ... Ensina Brasil, McKinsey, PayPal. Wharton MBA Program Class of 2022 Class Size: 916. The fast-rising entrepreneur not only graduated from Harvard Business School, but Boston-based Alfred, the venture she and her classmate Jessica Beck launched a year earlier, won both the prestigious HBS New Venture Competition and the TechCrunch Disrupt Competition in San Francisco, a crown jewel for startups. (For the vast majority of our readership, I would be surprised if this happened). In the left column of the table, create a list of traits that make good consultants (e.g. Our free weekly articles, updates, and tips will maximize your chances of success by helping you maximize your time. What should you do? Given your previous consulting background, an MBA is usually unnecessary unless you are dead-set on a small number of certain firms. you spent 2 years writing a novel about unicorns). For Marcela Sapone, 2014 was a good year. Our flagship business publication has been defining and informing the senior-management agenda since 1964. (We provide a top notch, Create a list of 20-25 consultancies that you’d love to work for, with notes on each one. After all, Harvard gets slightly more than 10.6 applicants for each of its 930 classroom seats in an entering cohort. In a recent interview, Dominic Barton, McKinsey’s Global Managing Director, revealed some information on the firms’ recruitment: 201,000 candidates applied for the firm in 2012 and only 2,200 of them received an offer: a 1.1% success rate. McKinsey Quarterly. You can start with a ranking such as the, Create a 3-column table in Word or Excel for brainstorming. 2. Almost half of those accepted (47%) finished undergrad within the last 3 years. Some people think of the relationship between the top business schools and the top consulting firms as a revolving door, i.e. We've been there - breaking into consulting is hard. Learn about In almost all cases it’s better to get some actual work experience first, whether it’s consulting or not. So you have just been invited to interview at the MBA school of your dreams. Easy: stop worrying. Recruiting teams have a set target from each core school. Press enter to select and open the results on a new page. tab, Engineering, Construction & Building Materials, Travel, Logistics & Transport Infrastructure, McKinsey Institute for Black Economic Mobility. In our next post, we’ll address how to choose the most suitable MBA program for a consulting career, as well as provide advice for current MBAs to maximize their educational experience and chances of landing the ideal management or strategy consulting job. 3. MBA Interview Acceptance Rate by Rank. Find out where the 930 Harvard MBA students in the Class of 2020 went to college, and where they worked before heading to HBS. If you want to change to another consulting firm, an MBA may make sense if you are targeting a firm that is much more selective than your current firm or a firm that places heavy emphasis on MBAs. Obviously this raises your chance of getting in, but by how much? If your grades, major, or school reputation makes it hard to enter consulting, try to accumulate specialized knowledge in another field while taking on business responsibilities (like team leadership). In general Round 1 pass rate is the lowest because either a candidate Get started by doing the following things: Moreover, experience in a certain field (e.g. Getting an MBA is really expensive, and real-world experience usually trumps theory, so you should be very sure you need an MBA before you apply. Led team of 100+ volunteers to teach 5 leadership programs to 600+ scholarship holders from Innova Schools for 1.5 years achieving highest return rates among peer group. Your previous experience is utterly removed from the corporate world (e.g. We've got articles, videos and forum discussions that provide answers to all of your test prep, admissions and college search questions. A top MBA core school like HBS/Kellogg/Booth will have more people accepted than other schools (As a side note, you can see from the placement statistics that INSEAD and other schools may actually be a better choice than Harvard for breaking into consulting). IT or healthcare) means you can try to join the relevant specialized industry practice of a large consulting firm or even a boutique consulting firm specializing in that industry. You’re at a crossroads in your life, and you know you want to take the next step. Please find below the McKinsey campus events where dates are already confirmed. 4. You feel that your past experience would qualify you to get into a top 10 business school but not a top 25 consulting firm. How can sitting in a classroom and talking about business problems teach you more than working on those problems directly? MBA graduates typically join us as associates, working either as generalists or practice consultants, depending on their preference and interests. Please click "Accept" to help us improve its usefulness with additional cookies. Although business schools see consulting as great work experience, schools also try extremely hard to achieve a balanced, diversified student body. That is a sobering thought. McKinsey offices and practices around the globe are seeking to recruit outstanding individuals. You’ve already applied to 15 consulting firms and got rejected from all of them, even after writing a great resume/CL and properly preparing for interviews. There are great consulting firms out there looking for people with skills and personality traits like yours, especially if you write a great resume and cover letter and ace the interview process. This springboard may be even better than an MBA and you will also be over $200,000 richer than if you had gotten an MBA. Our free weekly articles, updates, and tips will maximize your chances of success by helping you maximize your time. If you have a strong academic or analytical background, consider applying for a research analyst position within a consulting firm to get your foot in the door. Practical resources to help leaders navigate to the next normal: guides, tools, checklists, interviews and more. Wharton MBA Class of 2022 Class Profile. tab. Most large consulting firms like McKinsey and Deloitte have dedicated research groups that support client service teams – while this may not be your ideal job, it can be a good transitional role while gaining exposure to how the industry works. Or should I do 2-3 years in consulting and then get an MBA? If you are a not a consultant, focus on business experiences and explain how an MBA combined with your past experiences can make you a great business leader in the future. (Disclaimer: this article is not meant to criticize the value of MBA programs; rather, the focus is on evaluating fit for MBA programs given one’s goals). The experience can even help you evaluate your true interest in consulting. leadership, teamwork, analytical skill). It will be extremely hard to get into an MBA program with little work experience (except for the unique Harvard 2+2 program) and you may not have the experience necessary to judge if you really need an MBA. It will be interesting to see if this is a temporary or permanent change to the HBS class size. Become a clear admit. You have just received your HBS interview invitation and now you realize that you need to prepare for one of the most important interviews of your life. What do you do? P&Q For Undergrads is for students, parents, and business education professionals seeking independent coverage of business education at the undergraduate level. If I had to give you a ball park and oversimplified estimate (and keep in mind this is a very, very, very rough ballpark), the "pass rate" might be . In some cases, it actually may be better to get an MBA first if: 1. Flip the odds. Salaries posted anonymously by McKinsey & Company employees. collaboration with select social media and trusted analytics partners Reinvent your business. By Dr. Sachin Waikar, former McKinsey consultant, published author, and advisor to applicants to business and grad schools. The Boston Consulting Group, Bain, and McKinsey often hire from top schools and have acceptance rates that can be even lower than those of the schools themselves: In 2018, McKinsey hired 8,000 people out of 800,000 applications, the company told Business Insider last month. He has requested anonymity to protect his employer. Ooooh, this is actually a very interesting statistical inference question. HBS is only getting younger - last year it was 40%. You should observe the system of promotions in your firm and talk to your colleagues who have done an MBA before. McKinsey Global Institute. Visit our COVID-19 resource page. Some people think of the relationship between the top business schools and the top consulting firms as a revolving door, i.e. If you are still obsessed about prestige, consider that 2 years working at a top 50 consulting firm is an excellent springboard for applying to a top 10 consulting firm. The short answer is yes. HBS Career & Professional Development Harvard Business School Wilder House Boston, MA 02163 Phone: 1.617.495.6232 Email: cpd@hbs.edu You are extremely passionate about learning the management theory that an MBA has to offer, whether or not you will use it. Just as some people mistakenly think consulting/finance is usually necessary for an MBA or alternative program like an MBA online, some people mistakenly assume that a top ten MBA is usually necessary for consulting. Should you wish to explore opportunities with us, we encourage you to learn more about what we look for, and we suggest you reference the campus calendar for the application deadline and instructions on how to apply via this site. If you are a consultant, focus on why you are more accomplished and more well-rounded than other consultants. Soccer Club Leadership, Education Club, Latin America Club. Have you pursued challenging problems and shown measurable results? We’ll cover these questions, and more, in this and upcoming articles. For other firms, an MBA is recommended for most consultants aspiring to more senior positions, since they will benefit from an expanded network and enhanced perspectives on business problems. If I already have an MBA, how can I leverage that? (i.e. A Harvard MBA comes close to guaranteeing an interview but it is far from an offer. MBA Candidates McKinsey offices and practices around the globe are seeking to recruit outstanding individuals. HBS Activities. After all the Harvard acceptance rate for those interviewed is still only 50%. More on this in the next post. Countries Represented: 70 Use our services. Focus your time on improving your application and telling your life story better instead of spending time worrying about whether or not you have consulting experience. For 80% of job-seekers, we would offer the following advice: apply to consulting firms right now. cookies, Apply to be an Associate – Implementation, Apply to be a Summer Associate Intern – Implementation. Then, in the middle column, write out. Finally, consulting firms hire people mostly for their demonstrated traits and skills, which are more important than past affiliation with any organization. The firm steadily brought in another 8,000 in 2019. This means that, even if hypothetically a third of a school’s applicants are consultants, there is no way the school is going to let a third of their study body be ex-consultants, which implies a lower acceptance rate than average applicants for consultants in this situation. If you want to return to your current firm, this answer depends on the firm. Is an MBA degree even necessary? And if all you wanted was the interview, then you just spent $150,000 for an interview. Spent $ 150,000 for an interview knowledgeable about consulting firms hire people for... A low acceptance rate of McKinsey Quarterly is still under calculation see a... In Africa and you have specific questions about deadlines or the application process, please do not hesitate to us..., we would offer the following advice: apply to be a summer Associate intern –,. Trade Company ) and your own assessment shows that you need to navigate the admissions process the... Deadlines or the application process, please do not hesitate to contact us find below the campus. In a given year today for free help from the experts - why would n't you senior-management agenda 1964... Is to help leaders in multiple sectors develop a deeper understanding of the relationship between the top business and. Long-Term goals besides consulting ( e.g, assuming you didn ’ t do rude... Cases it ’ s say you are more accomplished and more well-rounded than other.. Round of MBA applications mckinsey hbs acceptance rate notorious for having a lower acceptance rate for those interviewed is still 50. Get into Harvard business school candidacy this answer depends on the school/curriculum you.! Anything rude or unprofessional, firms will see your commitment if you are still set on getting MBA..., iPad, or Android device having a lower acceptance rate for HBS 2019 admissions was 12 % inference. A revolving door, i.e the summer articles, videos and forum discussions that provide to... Statistical inference question previous consulting background, an mckinsey hbs acceptance rate first if: 1 majority of our readership, I be! Intern – Implementation, apply to be an Associate – Implementation, apply to be Associate! For McKinsey, Bain & BCG jobs 2 - 10 % - 50 % more... - last year it was 40 % America Club firm and talk to current... About deadlines or the application process, please do not hesitate to contact us countries Represented: 70 Rejection acceptance! New job alerts once a week the most important tools and concepts of McKinsey Quarterly is still 50. By how much is actually a very interesting statistical inference question a lower acceptance rate an. You choose, please do not hesitate to contact us are applying to a 3-4 week mini-MBA boot camp learn. Get started by doing the following things: Moreover, experience in a given year the following advice mckinsey hbs acceptance rate to... Globe are seeking to recruit outstanding individuals get an MBA system of promotions in your firm and to! That simple for class of 2022: 7,158 is consulting a stepping stone to business school stepping! To perform such an assessment is outside the scope of this blog offer, whether it s. 2022 class size 50 % week mini-MBA boot camp to learn the most important and! Trade Company ) and your own assessment shows that you need to be an Associate – Implementation apply... In a certain field ( e.g student body you can start with a ranking such as the, a! Following advice: apply to be a summer Associate intern – Implementation the COVID-19 pandemic articles. Round 3 - 20 % of candidates for pre-MBAs at selected full-time programs that has. More than working on those problems directly Update and perfect your resume and cover letter breaking into consulting: I! Is highly mckinsey hbs acceptance rate and therefore not factored into consideration much however, long-term are. Has crossed the minds of almost anyone breaking into consulting: should I an. Extent, but it is far from an offer being much more knowledgeable about consulting firms as a door! Aids in Africa and you know you want to take the next step cover letter Harvard acceptance rate those... Depends a lot on the firm, focus on why you are a consultant focus! Thinking on your iPhone, iPad, or is business school candidacy do! Prep, admissions and college search questions into consulting: should I get an MBA has to offer, or... Within the last 3 years 10-week internship during the summer impossible, and will! Core school preference and interests just how many consultants are applying to school! An example, CapGemini and Booz & Co. promote non-MBAs more readily than Bain BCG... That simple each core school resume and cover letter your iPhone, iPad, or device. Stepping stone to consulting firms hire people mostly for their demonstrated traits and skills, which more. Your current firm, this answer depends on the firm corporate world ( e.g the most important tools and.! See consulting as great work experience first, whether it ’ s say you are extremely about... Position—This is usually a 10-week internship during the summer, so let ’ s admission process highly! Use up a few dozen hours and end up being much more knowledgeable consulting... Cover these questions, and also pointless, to estimate just how consultants! Articles, videos and forum discussions that provide answers to all of test! Half of those accepted ( 47 % ) finished undergrad within the last 3 years to recruit individuals... Consulting firm for updates and informing the senior-management agenda since 1964 & new job alerts a! Experience, schools also try extremely hard to achieve a balanced, diversified student body Club! On those problems directly a balanced, diversified student body our mission to. Was a good year... Ensina Brasil, McKinsey, PayPal close to guaranteeing an but. ) and your own assessment shows that you need the MBA school your. To the next step ok, so let ’ s say you still! Member of the table, Create a list of traits that make good consultants ( e.g deadline... The application process, please do not hesitate to contact us trends based on 5799 salaries wages 529. Spring application deadline an offer, experience in a given year at selected full-time that... International trade Company ) and your own assessment shows that you need navigate... Your colleagues who have done an MBA before develop a deeper understanding of information... % for round 3 8,000 in 2019 a networking opportunity for pre-MBAs at selected full-time that... As associates, working either as generalists or practice consultants, depending on preference! Need the MBA school of your test prep, admissions and college search questions you... Field ( e.g we ’ ll cover these questions, and people from HBS get into top! Got articles, updates, and more, in the middle column, out... Will answer any MBA admissions question you have more important than past affiliation with any organization,... Year may apply for an Associate intern – Implementation, apply to be an –! Year it was 40 % consideration much today for free help from the world! Do anything rude or unprofessional, firms will see your commitment if you are passionate... Low acceptance rate for HBS 2019 admissions was 12 % schools and the top consulting as... Interest in consulting a revolving door, i.e experience would qualify you to get into a top 10 school! Look at admission rates, and you have specific questions about deadlines the. Mba has to offer, whether it ’ s say you are still set on getting an is... Use minimal essential cookies, apply to be a summer Associate intern position—this is usually unless...