Importance of an MBA?

Importance of a MBA in the consulting world - Leaving work to pursue an MBA can definitely help accelerate your future career progression and perceived market value, but not all MBA's are equivalent, and not all MBA graduates receive the career benefits they expect.

An MBA provides you with several benefits:

(1) Increased practical business knowledge and well-rounded understanding of business issues

(2) An expansion of your contact network to include your fellow MBA program members (fellow students and faculty) -- a network that could be invaluable to you in the future.

(3) A credential that is generally well-respected and a requirement for employment in certain situations

An MBA from a top-school program (Harvard, Wharton, Standford, Kellogg, Darden, Amos Tuck, among others) provides all of the above but also provides a platform for opportunities that might not otherwise be available to you.

In the management consulting profession, the top strategy firms -- McKinsey, Bain, BCG, Booz Allen, etc. recruit heavily from the top MBA schools and pay handsomely for new recruits.

If you are planning to return to the consulting profession following your MBA program, the best leverage for you would be to attend one of the top five or top ten MBA programs. Graduating near the top of your class at "second tier" MBA programs would also give you excellent leverage. The recruiting process for MBA hires into the top strategy firms is intensive but starting salaries are excellent and the experience gained from working at those firms creates exceptional career leverage.

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