A career in consulting is the most preferred career aspirant among MBA graduates when pursuing a job. This is due to factors such as the hiring process, hiring preferences, job roles, high salary packages, short promotion timelines, industry exposure, and a strong career growth environment.
Consulting firms prioritize diversity in experience and academic backgrounds, which benefits MBA graduates who have spent two years studying alongside peers from various disciplines. This makes it easier for them to secure a consulting role, regardless of their specialization. Moreover, since consulting does not require a fixed specialization, students from different fields can participate in the placement process. It is therefore great to start a career in consulting with a high-paying job, great exposure, and growing opportunities.
In today’s blog, we will take a closer look at the career in consulting hiring process, why MBA graduates are drawn to it, expected salary ranges, promotion timelines, and the long-term career prospects in the industry.
Career in Consulting: Why do MBA students target consulting jobs in placements?
Better Hiring Process
Continuing the above statement, not only do consulting companies have better hiring processes but also designed their hiring interviews suited to most of the MBA graduates. In detail, consulting job interviews revolve around guestimates, case studies, industry knowledge, and presentation, all the factors that MBA graduates studied in their programs and college duration.
Therefore, looking at all the top IIMs and non-IIMs, most of the job offers accepted are from the consulting industry around the world, providing more opportunities to new hires.
High-Impact Job Roles
Job roles in consulting have a high impact on the growth of a business. It includes all aspects of a business, from marketing to operations, making it a jack-of-all-trades position for new joiners. Below are the common job positions and ascending cycle of seniority in the organization:
- Associate
- Consultant
- Senior Consultant
- Associate Director
- Director/Principal
- Partner/Managing Director
Diverse Industry Exposure
The most important factor after pay, consulting companies don’t let you sit at your desk–they want you to get up, go around, learn many things, and quickly execute strategies for different clientele across various industries. You may be able to expand your work from boutique companies to investment banks, giving you new opportunities for learning and international exposure.
Tough but Career Fulfilling Environment
Everything comes at a cost, and in consulting, the initial months can be demanding. Long hours, frequent travel, and a steep learning curve can create pressure. However, the effort is rewarding due to high salaries, experienced peers who offer guidance, and the quality resources provided by consulting firms. This ensures you don’t have to worry about basic amenities or access to learning materials.
Better High-Paying Salary
Many MBA graduates pursue consulting, and it certainly doesn’t offer low salaries. Even at the associate level, which is typically the entry point for freshers with no prior work experience, consulting pays well. Freshers can expect a salary range of ₹5-20 lakh per annum, with a promotion cycle of 2-3 years, depending on their college, performance, and experience.Â
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Better Promotional Cycle
Unlike roles in finance and marketing, where salaries are high from the start but promotions can be slow, an employee may remain in the same position for up to four years. In consulting, the promotion cycle is shorter—typically around 2-3 years for entry-level roles. Since consultants work with diverse clients on long-term projects, firms often retain talent through timely promotions and appraisals.
Career in Consulting: Consulting Salaries in India – Career Progression and Timeline
| Consulting Role | Experience Level | Average Salary (INR) | Promotion Cycle |
| Analyst/Associate | 0-2 Years | 5-20 LPA | 2-3 Years |
| Consultant | 2-5 Years | 8-40 LPA | 3-4 Years |
| Senior Consultant | 3-8 Years | 15-65 LPA | 4-5 Years |
| Associate Director | 5-12 Years | 30-80 LPA | 5-7 Years |
| Director/Principal | 7-18 Years | 45 LPA – 1.5 Crore per annum | 7-10 Years |
| Partner/Managing Director | 10+ Years | 60 LPA – 5+ Crore per annum | N/A |
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