Consulting compensation for MBA's - 1st year Associate Forum

[bdubs]

What about a JD/MPA at some consulting firms (especially w/ federal consulting groups)? I assume its nowhere near a JD/MBA but maybes around the $100K range? And does it depend on the level of the MPA?

These firms generally don't have multiple tracks. You're either enter as an analyst (undergrad level), associate (graduate degree), or experienced hire (can be either associate or higher). Some of them *might* hire you at an analyst level, maybe even paying you the rate that an experienced analyst might make, but they won't generally put you on a separate track because of your background.

[Anonymous User]

What about a JD/MPA at some consulting firms (especially w/ federal consulting groups)? I assume its nowhere near a JD/MBA but maybes around the $100K range? And does it depend on the level of the MPA?

These firms generally don't have multiple tracks. You're either enter as an analyst (undergrad level), associate (graduate degree), or experienced hire (can be either associate or higher). Some of them *might* hire you at an analyst level, maybe even paying you the rate that an experienced analyst might make, but they won't generally put you on a separate track because of your background.

Ok so the MPA would provide really no bump. So $100K at Deloitte/Booz/Accenture w/ a JD/MPA from Syracuse (#1 MPA program) is not feasible?

[Blindmelon]

What about a JD/MPA at some consulting firms (especially w/ federal consulting groups)? I assume its nowhere near a JD/MBA but maybes around the $100K range? And does it depend on the level of the MPA?

These firms generally don't have multiple tracks. You're either enter as an analyst (undergrad level), associate (graduate degree), or experienced hire (can be either associate or higher). Some of them *might* hire you at an analyst level, maybe even paying you the rate that an experienced analyst might make, but they won't generally put you on a separate track because of your background.

Ok so the MPA would provide really no bump. So $100K at Deloitte/Booz/Accenture w/ a JD/MPA from Syracuse (#1 MPA program) is not feasible?

Fed. gov. consulting does not pay nearly as well as their private sector counterparts. I worked at a firm that did 50/50 gov/private sector consulting and there were 2 JDs out of 5k or so people. 1 was an admin assistant, and the other never practiced law and was maybe 60ish years old. For fed gov. consulting, just get the MPP/MPA. Analysts start out at Deloitte/Booz/Accenture around 55-60k/year (friend of mine at Accenture made 55k starting with a signing bonus of I don't know what). Those with grad degrees will start around 80k (its negotiable).

Also, please do not use US News to value an MPP degree. Kennedy School (Harvard) and the Woodrow Wilson school (Princeton) >>>>>>>>>>> Syracuse.

Remember that fed gov. work is billed to well, the government. They don't pay the huge salary multipliers that some big F500 company would for McKinsey. Also, McKinsey and others recruit at Harvard/Princeton - so thats another way in if you want to go that route.

[bdubs]

Ok so the MPA would provide really no bump. So $100K at Deloitte/Booz/Accenture w/ a JD/MPA from Syracuse (#1 MPA program) is not feasible?

Different firms recruit at different schools. If Accenture/Booz recruits from Syracuse's MPA program regularly then you have a shot. If you have to rely on a resume drop then it probably means there is not a significant chance of obtaining a position.

[Anonymous User]

Well hopefully I can transfer out of Syracuse. We'll see what happens. I had no idea Maxwell's reputation was false.

[EMZE]

If you are really just chasing dollars, there is not specific degree or qualification that will make up for a lack of skill. Go to T14, suck at real life law, and wash out of biglaw in a year. Get an MBA from an M7, suck at real life business, and get fired before you finish setting up your office.

Since a good number of my friends and peers have gone down both those roads, along with many others not pursuing an advanced degree, the individuals I know to be doing the best in strictly monetary terms are the super personable individuals that went into sales and get paid on commission. Some are really smart, some are not, but regardless of raw intelligence they are effective communicators and likeable humans. Their base pay is paltry compared to these roughly fixed figures mentioned in OP, around 60k, but some get paid 300K up to and over a million for their results. They also work insane hours, though few actually even have an office since they are always moving. One friend in particular, who works for a medical technology company producing medical lasers, makes United 1k in the first month of every year, and is literally not home more than 60 days a year.

[Anonymous User]

I haven't gone through the recruiting process for JDs or MBAs yet, but this reflects a fundamental misunderstanding of the way that I know MBA to work.

People generally don't come to business school without some substantive corporate work experience. This work experience, along with where you go to school and how well you've done there, has a big impact on where you are competitive for jobs. People in business school refer to two general camps of candidates "traditional/experienced" and "industry switchers." (i'm sure there are all sorts of other terms, but this gets at the basic concept) If you've worked in an industry before, like finance, you're generally more competitive for positions in that industry because you can sell your skills and experiences. If you're an "industry switcher" you face an uphill battle from the start. You have to craft a story of why you want to go from X to Y. Lots of industry switchers use their summer internship as a transition from their old industry to their new one.

Consulting, generally, is the most open to people who switch professions because it uses a broader and more basic set of skills than most MBA jobs. However, you shouldn't interpret this to mean that experience won't factor into consulting recruiting. Experience is still a big deal. If you are an all around rockstar and can nail the case, you might make up for a relative lack of experience but for 90% of candidates that won't be the case.

If chuckbass disagrees with me though, you can totally take his word and ignore me.

The confusion is my fault due to a lack of info in my post. I do have corporate work experience, but pursued law school. As a 1L, the career options don't appeal to me other than corporate transactional law, so I'm considering applying for the JD/MBA. Consulting is one of the more appealing options I thought the JD/MBA would open up, but I am interested in other MBA career options as well. That was really the basis for my questions. It's difficult to find information to help make this decision given it's rather uncommon.

[sparty99]

If you want to know about consulting, don't waste your time on this post.

McKinsey, Bain, and BCG are the most prestigous firms in the industry and posting those salary figures (mostly inflated - especially the bonuses) is redic....

There are a lot of misconceptions on this thread...Granted, there are many consulting firms and to say that McKinsey, Bain, and BCG have the best exit options is redic...Also, why are some people even calling Deloitte second-tier? Like that matters....A firm like Deloitte is highly regarded, people who leave go to I-banking, law, and run companies. Consulting is consulting...McKinsey and Deloitte both do "high-level" projects. They compete with each other. Accenture and AT Kearney would do circles around McKinsey in terms of strategic sourcing. McKinsey does a lot of non-strategy and I wouldn't necessairly say that their work is more "high-level" than any other consulting firm.

The work of an Associate can hardly be called sexy. Doing PowerPoint, Excel, and Access. The opportunity to meet with a CEO? Possible. But you can also spend 6 months in a closet, having little interaction with the client and significant interaction with MS Excel...

If you want to do business, get a MBA. If you want law, get a law degree. Both? NO.

[dingbat]

I just want to point out that a 75% employment rate at a law school would qualify it as TTT.
For business school, this is sufficient to make the top 15
(I recently looked up Columbia, which was sporting a 74% employment rate, if I recall correctly)

You mean 91%? With 98% receiving offers?

http://www7.gsb.columbia.edu/recruiters ... mentreport

http://grad-schools.usnews.rankingsandr ... hool-01148

[imchuckbass58]

I just want to point out that a 75% employment rate at a law school would qualify it as TTT.
For business school, this is sufficient to make the top 15
(I recently looked up Columbia, which was sporting a 74% employment rate, if I recall correctly)

You mean 91%? With 98% receiving offers?

http://www7.gsb.columbia.edu/recruiters ... mentreport

http://grad-schools.usnews.rankingsandr ... hool-01148

As pointed out, that's at graduation. Law schools report stats 9 months out, whereas the 91% figure is 3 months out for b-schools.

[dingbat]

I just want to point out that a 75% employment rate at a law school would qualify it as TTT.
For business school, this is sufficient to make the top 15
(I recently looked up Columbia, which was sporting a 74% employment rate, if I recall correctly)

You mean 91%? With 98% receiving offers?

http://www7.gsb.columbia.edu/recruiters ... mentreport

http://grad-schools.usnews.rankingsandr ... hool-01148

As pointed out, that's at graduation. Law schools report stats 9 months out, whereas the 91% figure is 3 months out for b-schools.

It's worth noting that a large enough portion of law jobs require admission to the bar. As that usually only occurs a few months after graduation, it makes sense that law schools report employment 9 months out (sufficient time to pass the exams and be admitted)
MBAs have no such equivalent
(although I am willing to concede that the 3 month figures are probably more fair than the upon graduation numbers)

[Anonymous User]

If you want to know about consulting, don't waste your time on this post.

McKinsey, Bain, and BCG are the most prestigous firms in the industry and posting those salary figures (mostly inflated - especially the bonuses) is redic....

There are a lot of misconceptions on this thread...Granted, there are many consulting firms and to say that McKinsey, Bain, and BCG have the best exit options is redic...Also, why are some people even calling Deloitte second-tier? Like that matters....A firm like Deloitte is highly regarded, people who leave go to I-banking, law, and run companies. Consulting is consulting...McKinsey and Deloitte both do "high-level" projects. They compete with each other. Accenture and AT Kearney would do circles around McKinsey in terms of strategic sourcing. McKinsey does a lot of non-strategy and I wouldn't necessairly say that their work is more "high-level" than any other consulting firm.

The work of an Associate can hardly be called sexy. Doing PowerPoint, Excel, and Access. The opportunity to meet with a CEO? Possible. But you can also spend 6 months in a closet, having little interaction with the client and significant interaction with MS Excel...

If you want to do business, get a MBA. If you want law, get a law degree. Both? NO.

No. Just, no.

[bdubs]

The confusion is my fault due to a lack of info in my post. I do have corporate work experience, but pursued law school. As a 1L, the career options don't appeal to me other than corporate transactional law, so I'm considering applying for the JD/MBA. Consulting is one of the more appealing options I thought the JD/MBA would open up, but I am interested in other MBA career options as well. That was really the basis for my questions. It's difficult to find information to help make this decision given it's rather uncommon.

Sorry for that rant, I'm just tired of 1Ls with a year of paralegal experience telling me that they wish they had "chosen" to do a JD/MBA instead of just getting JD.

If your law school is a target school for MBB and you have the requisite work experience, then you should be just fine applying as a JD candidate.

It's hard to give advice about whether switching to a JD/MBA is worthwhile unless you know what other kind of MBA recruiting you want to do. Generally though, the extra time and money don't seem worth it unless you know for sure that you don't want to do law but are too far along in the JD process to drop out and apply for an MBA.