Consulting jobs offer higher pay.
Many MBA graduates flock to the consulting sector after graduation, partly because of the industry’s higher salaries. Jobs in this field offer a variety of roles and the ability to work in different industries and locations. According to U.S. News data from 56 business schools that submitted information on 2023 grads’ average salary for consulting and their average salary across all sectors, those working in the consulting field earned about 11.5% more on average. These base salary figures do not include bonuses, such as signing or annual bonuses. Recent grads at the following 25 business schools earned the most in consulting compared to alumni of other B-schools that reported compensation numbers, with an average base salary of about $178,725.
Southern Methodist University (Cox) (TX)
U.S. News business school rank: 34
Full-time acceptance rate (2023): 24.1%
Average salary among all sectors (2023): $134,593
Average consulting salary (2023): $172,045
Learn more about the Cox School of Business.
Carnegie Mellon University (Tepper) (PA)
U.S. News business school rank: 16 (tie)
Full-time acceptance rate (2023): 28.5%
Average salary among all sectors (2023): $156,291
Average consulting salary (2023): $172,787
Learn more about the Tepper School of Business.
Georgia Institute of Technology (Scheller)
U.S. News business school rank: 25
Full-time acceptance rate (2023): 19.4%
Average salary among all sectors (2023): $154,679
Average consulting salary (2023): $174,370
Learn more about the Scheller College of Business.
University of Southern California (Marshall)
U.S. News business school rank: 18 (tie)
Full-time acceptance rate (2023): 22.9%
Average salary among all sectors (2023): $150,081
Average consulting salary (2023): $174,462
Learn more about the Marshall School of Business.
University of Texas–Austin (McCombs)
U.S. News business school rank: 16 (tie)
Full-time acceptance rate (2023): 37.9%
Average salary among all sectors (2023): $157,735
Average consulting salary (2023): $174,615
Learn more about the McCombs School of Business.
Vanderbilt University (Owen) (TN)
U.S. News business school rank: 20 (tie)
Full-time acceptance rate (2023): 40.1%
Average salary among all sectors (2023): $154,052
Average consulting salary (2023): $174,718
Learn more about the Owen Graduate School of Management.
Rice University (Jones) (TX)
U.S. News business school rank: 29
Full-time acceptance rate (2023): 39%
Average salary among all sectors (2023): $149,521
Average consulting salary (2023): $175,030
Learn more about the Jesse H. Jones Graduate School of Business.
Washington University in St. Louis (Olin)
U.S. News business school rank: 26
Full-time acceptance rate (2023): 27.9%
Average salary among all sectors (2023): $132,744
Average consulting salary (2023): $175,357
Learn more about Olin Business School.
University of Minnesota–Twin Cities (Carlson)
U.S. News business school rank: 35 (tie)
Full-time acceptance rate (2023): 46.9%
Average salary among all sectors (2023): $141,471
Average consulting salary (2023): $176,850
Learn more about the Carlson School of Management.
Yale University (CT)
U.S. News business school rank: 7 (tie)
Full-time acceptance rate (2023): 32.9%
Average salary among all sectors (2023): $163,830
Average consulting salary (2023): $176,973
Learn more about the Yale School of Management.
Cornell University (Johnson) (NY)
U.S. News business school rank: 15
Full-time acceptance rate (2023): 29.9%
Average salary among all sectors (2023): $162,808
Average consulting salary (2023): $177,592
Learn more about the Samuel Curtis Johnson Graduate School of Management.
University of California–Los Angeles (Anderson)
U.S. News business school rank: 20 (tie)
Full-time acceptance rate (2023): 40.4%
Average salary among all sectors (2023): $151,140
Average consulting salary (2023): $177,629
Learn more about the Anderson School of Management.
Columbia University (NY)
U.S. News business school rank: 12 (tie)
Full-time acceptance rate (2023): 22.4%
Average salary among all sectors (2023): $168,635
Average consulting salary (2023): $178,573
Learn more about Columbia Business School.
New York University (Stern)
U.S. News business school rank: 7 (tie)
Full-time acceptance rate (2023): 31.4%
Average salary among all sectors (2023): $168,182
Average consulting salary (2023): $178,967
Learn more about the Leonard N. Stern School of Business.
Duke University (Fuqua) (NC)
U.S. News business school rank: 12 (tie)
Full-time acceptance rate (2023): 22.1%
Average salary among all sectors (2023): $162,834
Average consulting salary (2023): $179,036
Learn more about the Fuqua School of Business.
Massachusetts Institute of Technology (Sloan)
U.S. News business school rank: 5
Full-time acceptance rate (2023): 17.8%
Average salary among all sectors (2023): $168,095
Average consulting salary (2023): $180,036
Learn more about the Sloan School of Management.
Northwestern University (Kellogg) (IL)
U.S. News business school rank: 3 (tie)
Full-time acceptance rate (2023): 33.3%
Average salary among all sectors (2023): $169,698
Average consulting salary (2023): $181,638
Learn more about the Kellogg School of Management.
University of Michigan–Ann Arbor (Ross)
U.S. News business school rank: 12 (tie)
Full-time acceptance rate (2023): 38%
Average salary among all sectors (2023): $162,946
Average consulting salary (2023): $181,895
Learn more about the Stephen M. Ross School of Business.
University of California–Berkeley (Haas)
U.S. News business school rank: 7 (tie)
Full-time acceptance rate (2023): 23%
Average salary among all sectors (2023): $162,831
Average consulting salary (2023): $182,110
Learn more about the Haas School of Business.
University of Virginia (Darden)
U.S. News business school rank: 10 (tie)
Full-time acceptance rate (2023): 39.4%
Average salary among all sectors (2023): $167,899
Average consulting salary (2023): $182,123
Learn more about the Darden School of Business.
University of Pennsylvania (Wharton)
U.S. News business school rank: 1 (tie)
Full-time acceptance rate (2023): 24.8%
Average salary among all sectors (2023): $175,828
Average consulting salary (2023): $182,420
Learn more about the Wharton School.
Harvard University (MA)
U.S. News business school rank: 6
Full-time acceptance rate (2023): 13.2%
Average salary among all sectors (2023): $171,740
Average consulting salary (2023): $183,196
Learn more about Harvard Business School.
Dartmouth College (Tuck) (NH)
U.S. News business school rank: 10 (tie)
Full-time acceptance rate (2023): 40.1%
Average salary among all sectors (2023): $170,824
Average consulting salary (2023): $183,334
Learn more about the Tuck School of Business.
University of Chicago (Booth) (IL)
U.S. News business school rank: 3 (tie)
Full-time acceptance rate (2023): 32.6%
Average salary among all sectors (2023): $173,310
Average consulting salary (2023): $184,174
Learn more about the Booth School of Business.
Stanford University (CA)
U.S. News business school rank: 1 (tie)
Full-time acceptance rate (2023): 8.4%
Average consulting salary (2023): $189,010
Average salary among all sectors (2023): $188,214
Learn more about the Stanford Graduate School of Business.
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Explore the 25 MBA programs with the highest average consulting salaries.
— Stanford University: $188,214
— University of Chicago (Booth): $184,174
— Dartmouth College (Tuck): $183,334
— Harvard University: $183,196
— University of Pennsylvania (Wharton): $182,420
— University of Virginia (Darden): $182,123
— University of California, Berkeley (Haas): $182,110
— University of Michigan–Ann Arbor (Ross): $181,895
— Northwestern University (Kellogg): $181,638
— Massachusetts Institute of Technology (Sloan): $180,036
— Duke University (Fuqua): $179,036
— New York University (Stern): $178,967
— Columbia University: $178,573
— University of California–Los Angeles (Anderson): $177,629
— Cornell University (Johnson): $177,592
— Yale University: $176,973
— University of Minnesota–Twin Cities (Carlson): $176,850
— Washington University in St. Louis (Olin): $175,357
— Rice University (Jones): $175,030
— Vanderbilt University (Owen): $174,718
— University of Texas–Austin (McCombs): $174,615
— University of Southern California (Marshall): $174,462
— Georgia Institute of Technology (Scheller): $174,370
— Carnegie Mellon University (Tepper): $172,787
— Southern Methodist University (Cox): $172,045
More from U.S. News
15 Business Schools With the Lowest Acceptance Rates
MBA Jobs With Better Hours That Still Pay Well
How to Emphasize Academic Strengths On MBA Applications
25 MBA Programs That Train Well-Paid Consultants originally appeared on usnews.com
Update 09/04/24: This article was published at an earlier date and has been updated with new information.
