MBA sponsorship from top consulting firms

Hi there,

You need to understand that this varies by company and region, but, in general, the following statements hold.

1- How do top consulting firms choose to sponsor MBAs? Is it based on the performance and the potentiel of the consultant that wants to do the MBA?

It is indeed performance + potential-based. You need to apply and be approved.

2- Do consulting firms sponsor all the MBA tuition fees or only a percent? What about living expenses?

Generally the full tuition fees. Rarely the living expenses.

3- Why do consulting firms sponsor MBAs whilst many MBA graduates thrive to join consulting firms? They could recrut directly these graduates without loosing money, no?

Risk. They know their current employee is good...they don't know whether the MBA recruit is good or bad until it's "too late". They don't lose much money at the end of the day...you're locked in to work for them for 2-3 years after your MBA to pay your dues!

Also, you don't get a signing bonus when you return AND you don't require 6-12 months of retraining like an MBA hire...that's more than worth its weight in gold!

4- Do consulting firms cut the salary entirely until the candidate graduates?

Yes.

5- When is the best moment to apply for a MBA? How many years of experience is required to increase the chances to get accepted in a top MBA?

The average working years of experience for an MBA applicant/entrant is 4.

Hey there,

I'll answer from a McK perspective. Hopefully, Bain and BCG colleagues can add their info.

1. Depends on the office. Most commonly, the MBA is sponsored if you have developed in line with expectations for 2 years and would receive an offer to return afterward for the next level in the McKinsey hierarchy. You don't need to necessarily outperform the trajectory.

2. Depends on the office. Some pay fully, others half. For instance, in McK Germany, you get a third year of salary + 50% of the tuition fees of the program. That is the reason why many McKinseys go to INSEAD and the 10-month program since the cost is covered fully with salary and the 50% tuition coverage. After you return, you need to stay for a year, otherwise, you have to pay back the pro-rated coverage.

3. MBB invest heavily in their staff. For instance, part of McKinsey's mission is to retain talent. Offering such programs is in line with this value and a reason why people flock to McKinsey. Many colleagues work for the first two years having this carrot in front of them and then return for another 1-3 years, whereas otherwise, they might have left earlier.

4. Again, depends on the office. Germany pays the full salary for a year.

5. You should apply after your first year with the firm + have additional work experience through internships already before consulting + experience abroad + extracurricular activities + prestigious undergrad degree and good grades + high GMAT score.

Cheers,

Florian

Hello!

Feel free to PM me about this. 

To your points: 

• MBBs and some others sponsor -you need to go office b office here, this is a great reason to network-. 
• They cover tuition and aso give you money for your expenses
• They hire a lot post-MBA, but they also invest in their analyst, who are great resources once they come back
• They don´t pay you during the MBA, but as i commented before, they give you money for living while you are in your educational leave

Hope it helps!

Cheers, 

Clara

Hi,

this largely depends on the firm and even the local office to which you belong. McKinsey is generally quite supportive, other top firms as well, but again this depends on the local office. It would be great if you could share some details, so you can receive more targeted feedback.

Cheers, Florian