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In Deloitte that make like 30k more
Post-MBA SCs will almost always make more than SCs who have gotten there straight from analyst (same applies to experienced hires who made it from C to SC, in most cases). The only time I've seen a non-MBA SC making more is when they extremely valuable to a partner/project/practice and/or needed for something valuable AND have offers from other firms. This is a very rare case.
1. MBAs make significantly more at most firms, 2. If you want to leave consulting, expand your network, or take a 2 year break
By the time your a partner, it's all even hah. But until then...
MBAs come in at Sr. level making significantly more. Promos to mgr and resulting raises continue that trend. Check poetsandquants.com for comparison.
MBA matters in consulting - especially if you ever want to go MBB and you definitely make more in the long run
There's a contingent of seniors that got in and established their careers before there was a big push for MBAs in consulting - times have changed in my opinion. These days if you want to compete with everyone else - you should have one
To deloitte4, really depends what practice area you are looking in. If you're talking strategy, yes: it's still something you should, in most cases, go for. If you're doing anything other than pure strategy, then I don't think the same holds. At that point, a whole host of other factors become more relevant in determining whether or not to get an MBA
And if you want to pivot out of consulting into a different industry
Eventually it evens out, but it takes a while
Gooooood question, I think all strategy SCa make the same no?
SCs*
At Accenture strategy MBA consultants make more and going forward it's going to be a more difficult to get promoted without an MBA. Also an MBA is much better for exit opps from consulting
Usually with strategy I've heard u just needed an MS to make senior
At PwC I have had three different Partners tell me that a lack of an MBA will not impede advancement. It will help if leaving PwC, but performance trumps a degree once you're already in the door.
^makes sense. Instead of getting an MBA and go to a rival and get a better offer, most will usually match.
Deloitte is very picky about matching, but they'll do it if they think the person is partner material. The thinking goes: why lose someone over 25-40k when they might help develop a recurring, multi-million dollar revenue stream in 5-10 years? (And that's not even mentioning the other value adds they can bring)
I think this may all apply to the big 4 and acc, but I did do an interview with McKinsey and they were offering 130-140 for assoc level and 150+ for EM and I don't have an MBA. Pretty sure those are MBA salaries too
D4, I disagree, you'll make more I the short game and in the long run. If you make Director/Partner, your compensation will equal out to your peers. Having an MBA makes the biggest difference against peers directly Post-MBA vs those at the same level without an MBA
In the short game, than I the long run*