While consulting is the industry most frequently associated with an MBA, not all schools follow this trend. At CEIBS in China, their MBA cohort boasts a diverse range of professional backgrounds. Discover how the school is pushing the MBA boundaries beyond consulting.
It is an undeniable truth: consulting reigns as the industry of choice for MBA graduates. A 2020 report by the Association of MBAs (AMBA) and Business Graduates Association (BGA) found that almost one-fifth of MBA graduates were employed in the consulting industry. That’s a higher proportion than any other industry. This raises the question: why do so many MBA grads opt for a career in consulting?
For a start, the salaries offered are among the highest in any sector. Consulting salaries average over $100,000 and can be as high as $200,000 at a leading firm. Beyond the financial aspect, consulting opens doors for graduates to engage with diverse industries. This allure captivates many MBA graduates as it aligns with their multifaceted MBA experience.
MBA programs effectively equip students with the essential skills they need for a career in consulting. Throughout an MBA curriculum, you’re going to tackle business cases, work with your classmates on group projects, and learn to communicate effectively with a wide range of people. All of these experiences aptly prepare MBA graduates for a career in consulting.
The popularity of consulting among MBAs means that many students come from the industry and join the industry when they graduate.
Pablo Martínez Pallarés moved from his native Spain, where he was a consultant at Deloitte, to study for an MBA at China Europe International Business School (CEIBS). However, his time at CEIBS has opened his eyes to more possibilities than returning to consulting.
Pablo had a few reasons for choosing CEIBS. First, his wife is Chinese, so he has an emotional link with the nation. Next was that CEIBS is one of the leading business schools in China. It ranks among the top 20 programs of the FT Global MBA Ranking 2023.
Additionally, he envisioned an MBA in China as a pathway to tap into the Chinese job market. He describes getting an MBA in China as “the best way for an international who doesn’t have a huge professional background.” (07:32)
After arriving at CEIBS, one of the first things that struck Pablo was the entrepreneurial spirit of the program. He believes it is indicative of the Chines business environment as a whole.
“I don’t know if it’s something because of the MBA in general, or if it’s something that comes from having an MBA here in China that has this entrepreneurial background, a very strong desire to have your own company and grow very big,” he explains. “Because in the last 20 years, many companies have done so, and they see that as an example.” (09:21)
The CEIBS MBA class profile shows a number of different industries represented within the program. Although consulting remains one of the most popular industries for students, manufacturing, healthcare, and real estate are also well-represented. Pablo says that a diverse mix of work backgrounds is a huge asset for the program.
“The proportion of people that come from family businesses is huge, or huge compared to what I think you will face in other business schools. And [there are] many other different backgrounds. So I would say that diversity is very welcome at CEIBS and is an attribute that I value a lot.” (11:03)
It’s important to remember that diversity in MBA programs encompasses more than just nationalities. A cohort enriched by a spectrum of work experiences brings invaluable insights and dimensions to student learning. At CEIBS, professional diversity enriches class discussions and brings fresh perspectives to problem-solving.
The increasing appeal of CEIBS, and China in general, as a destination for MBA scholars is readily apparent. According to GMAC research, 59% of Chinese schools reported a rise in MBA applications last year. This stands in stark contrast to the global decline of MBA applications worldwide.
There are many different reasons why international applications to Chinese schools are rising. But it’s clear that students are increasingly seeking something different from their MBA programs. CEIBS and other trailblazing schools in Greater China are poised to shape a new era of MBA education.
Consulting may be a popular path for MBA graduates, but it’s important to recognize that there are other viable options.
Pablo’s experience at CEIBS is proof that MBA programs aren’t just for consultants. In fact, nowadays, business schools such as CEIBS try to create as diverse an MBA cohort as possible. That means you might have a better chance of being accepted if you’re not from one of the “traditional” MBA industries.
Business schools value a range of perspectives in the MBA classroom, and you can bring that if you come from an industry outside of consulting.
Getting an MBA degree is possible for anyone with the drive and credentials. It doesn’t matter if you come from a non-business background, it doesn’t hurt to apply. You might just be exactly what they’re looking for.
If you want to learn more about studying for an MBA in China, why not reach out to one of our MBA ambassadors?
