We examined* a sampling of 400+ 2006 MBAs who went directly into one of the “Big Three” after business school with one overarching question: “Where are they now?” Read on for what we found regarding how many of these consultants left consulting, the tenure at which they left, and their current industry / company landscape.
1. First, how many consultants left for industry versus stayed in consulting?
Current Employment: Consulting vs. Industry
Of the 33% of 2006 MBAs that stayed in consulting, 13% switched firms (typically to non-“Big Three” firms), while the rest stayed at the “Big Three” they joined after business school.
2. For the 67% of 2006 MBAs who left consulting, when did they leave?
Number of Years Spent in Consulting, post-MBA
These consultants left consulting for industry jobs anywhere between one and three years, post-MBA, with the greatest number leaving at three years.
3. What industries did they go into?
With a diverse industry landscape, Manufacturing, Technology, and Financial Services comprise nearly half of where consultants went post-consulting.
4. If consultants did go into industry, how many companies have they worked at since their transition?
Number of Companies since Big Three Consulting, post-MBA
The majority of the 2006 MBA consulting pool has worked at just one company after leaving.
Having gone into McKinsey, Bain, or BCG from business school in 2006, the consultants we followed showed some definite movement: 71% switched firms at least once whether they stayed in a consulting firm or moved into industry, and of those who moved into industry, 35% have been at two or more companies since their time in the Big Three. Not surprisingly, most consultants who did leave their Big Three firm for industry left after 2-3 years post-MBA, which, with no previous consulting experience, is right around the first expected flight.
For the industry landscape, it will be interesting to see how this changes in years to come. For this specific study, 2006 MBAs who went from consulting to industry most typically went into Technology, Manufacturing, and Financial Services.
*Raines International’s information about the moves of 2006 MBAs was gathered from our internal database and confirmed through online resources (Linkedin, etc.) as of June 2013.