McKinsey Doubles MBA Hires At Duke

by John A. Byrne on

McKinsey & Co., the largest single recruiter of MBAs from top schools, significantly expanded its hires this year at Chicago Booth, Duke Fuqua, Michigan Ross and Berkeley’s Haas School. The global consulting firm’s got its largest supply of recently minted MBAs from Chicago Booth and Columbia Business School where it brought 39 MBAs from each school aboard, according to an analysis by Poets&Quants.

McKinsey’s hires from Booth were up 62.5% from the 24 Chicago MBAs it employed last year. The firm’s hires from both Duke University’s Fuqua School of Business and Berkeley’s Haas School more than doubled, to 15 from 7 at Duke and to 16 from 7 at Haas. The only business school whose McKinsey hires went down this year was Wharton which reported sending 38 MBAs to the firm versus 44 last year. Harvard and Stanford do not release information on their largest MBA hirers.

Rivals Bain & Co. and Boston Consulting Group, meantime, found Northwestern University’s Kellogg School an attractive hunting ground. Bain hired 24 Kellogg MBAs, up from 17 last year, while BCG brought aboard 30 Kellogg MBAs this year, the highest number for any top reporting business school. Bain also hired 18 MBAs each from both Wharton and Chicago Booth and a dozen from Columbia.

The biggest beneficiary of Deloitte Consulting’s increased recruiting of MBAs this year was Duke’s Fuqua. That school sent a whopping 35 MBAs to Deloitte, nearly a six-fold increase over the half dozen MBAs Deloitte hired form Fuqua last year. Deloitte also hired 20 MBAs from Michigan’s Ross School, up from 11 in 2010, and nine from Berkeley’s Haas School.

Most B-schools do not yet have their 2011 employment reports on their websites so this is an early glimpse of the most important employers of the top MBAs. This data was recently reported by the schools to Bloomberg BusinessWeek which asked schools to list their top hirers for the Class of 2011 (see tables below for the results). When the schools publish their full employment reports, we’ll update the story and the tables.

Yet, just counting the MBA recruits by the largest employers from ten top schools, provides a valuable look at the companies that literally make the market for the degree. McKinsey had 248 MBA hires from just ten schools, not including Harvard or Stanford, two favorite hunting grounds. BCG came next with 150 hired MBAS, while Bain & Co. was third with 109 and Deloitte Consulting was fourth with 92 MBA hires.

From the ten schools, Amazon hired more MBAs than any of the big financial service players. Amazon took away 62 MBAs this year, compared to 57 by Goldman Sachs and 54 by J.P. Morgan Chase. Microsoft hired 38 MBAs from these schools, while Google picked up 34 MBAs. In all cases, these are highly conservative numbers because these companies also recruit and hire at schools at which they were not listed among the top ten employers this year.

Among the big prestige finance players, Goldman Sachs seemed to heavily favor Wharton and Columbia. Goldman hired 24 MBAs from Wharton this year and 18 from Columbia, far eclipsing its hires from other business schools. Goldman, for example, hired six from Chicago, five from Duke, and four from Dartmouth’s Tuck School. J.P. Morgan Chase found lots of talent at Wharton, too, hiring 14 from the school, its highest number of hires among the schools reporting this data. Every other school was in single digits: Columbia (9), Chicago (8), Michigan (7), Tuck (5), Duke (5), and Virginia’s Darden School (5).

Among the big tech firms, Amazon continued its MBA hiring binge. The e-commerce giant hired 17 MBAs from the Univeristy of Michigan’s Ross School of Business and 15 from Wharton. Google employed 11 MBAs from Wharton, 10 from MIT Sloan, eight from Berkeley’s Haas School, and five from Kellogg. Apple hired seven from Duke’s Fuqua School and six from Kellogg. Microsoft employed 16 Wharton MBAs this year, 10 Darden MBAs, seven Sloan grads, and five from the Haas School.

(See next page for table of the top consulting firms and where they hired the most MBAs in 2011).

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  • https://www.mbafocus.com Ryan Pratt

    Wow! Great article with a ton of data to consume. Good news is MBA hiring is most definitely up! And it’s nice to see most of our clients and partner schools on this list. Keep up the great work John!

  • Betsy

    Things don’t look so good for Class of 2012 full-time jobs and Class of 2013 internships…

  • AJK

    do you have any of this info for Yale SOM which is right around this peer group even though it is a smaller school

  • Jay

    Amazing article! Saves a ton of time from sifting through individual school employment reports. I only wish MIT was in this list.

  • saul

    Where is harvard !?!?

  • b-school guy

    Betsy – why don’t things look at good for 2012? For consulting at least the numbers should be comparable.

  • http://poetsandquants.com/members/jbyrne/ John A. Byrne

    Saul,

    As noted in the article, Harvard and Stanford do not list the largest employers of their MBAs so those schools don’t provide this information.

  • http://poetsandquants.com/members/jbyrne/ John A. Byrne

    Yale didn’t supply this data to Bloomberg BusinessWeek and doesn’t yet have its full 2011 Employment Report out. We’ll update this as soon as those employment reports come out in December.

  • Jab

    What about NYU Stern, particular given its finance focus/strength?

  • Jack

    I understand the “math” but it’s interesting that most reviewers don’t consider Duke a Top-10 despite stats like this…

  • Tuckie

    Betsy- Here at Tuck, things look pretty good. I’m curious as to why you say things are looking bad.

    I think it’s more interesting to look at these numbers when you adjust for school size.

  • Jay

    Here’s the data from MIT’s 2010-2011 employment report (http://mitsloan.mit.edu/pdf/fullreport10_11.pdf)

    McKinsey & Company 15 graduates
    Boston Consulting Group 14
    Bain & Company 12
    Amazon.com 6
    Apple 6
    Goldman Sachs 6
    Barclays Capital 5
    Booz & Co 5
    Microsoft 6
    Deutsche Bank 5
    Novartis 5

  • http://poetsandquants.com/members/jbyrne/ John A. Byrne

    Jay,

    The data you presented is for the Class of 2010–not the Class of 2011. MIT has not yet released this information for the class that graduated this year, though it has identified the three top employers this year. All of them are consulting firms and are in the updated table accompanying the story.

    Best,
    John

  • b-school

    Tuckie – agreed – things look good here too.

  • Jane

    The data isn’t complete. It uses data released by the schools from the firms who hire the most students. Thus, schools sending one or two kids off to a company aren’t included in the dataset as of this time. The data is conservative and is used to show the big relationships between certain companies and certain schools.

    For example, Wharton has 1700 students. How did Citi not get a single Wharton grad? It’s analyst class has a bunch of Wharton graduates, so their relationship with Wharton seems pretty strong.

  • http://poetsandquants.com/members/jbyrne/ John A. Byrne

    Jane,

    You’re absolutely right. We make this clear in the article and table. Most schools release their full employment reports in mid-December. So this is an early glimpse of only the top six to ten employers at ten schools. Most of these companies hire at all ten schools, but if any of them failed to make the top list because they hired three or four MBAs instead of say six, we won’t know that until December. We will be updating all these lists, by the way, when the full employment reports come out.

  • notaPoraQ

    How about Insead? Heres what I see from their report released in May 2011 – for their classes that graduated in mid-2010 and december 2010: In consulting, excluding sponsored employees who were returning, Mck had 66 new hires, BCG hired 31 and Bain hired 31. And Google had 11 new hires. Not to shabby. Although its useful to keep in mind they have a large class… graduating 1,000 per year.

  • Class of 2013

    Booth clean up with McKinsey compared to last year. It’s now sending almost equal numbers to MBB consulting as Kellogg. Given the weak hiring in Banking this year it makes you wonder if more of the Chicago kids will try and go consulting instead thereby displacing Northwestern as the number one Chicago area feeder into Consulting? All in all great news for all the schools, lets hope hiring stays just as robust.

  • UNCGRAD

    What about UNC? BofA with 19, Deloitte with 14 and J&J with 9 as the top 3 recruiters should put them in some of the tables. Shouldn’t it?

  • shawn

    Fuqua seems to be doing exceptionally well

  • JohnR

    Boothie here, number of internship positions in campus for Class 2013: IB: +5%, Consulting :+10%, IM: -10%
    On the other hand, there is more competition for consulting roles this year. Class’13 is far more interested in consulting than IB. There is no specific reasons for that (AdCom says they didn’t change admission strategy)…

  • mehr

    Fuqua is blowing everyone else out of the water. I will definitely apply there.

  • jay

    John – Do you know when MIT will post its full employment report?

  • David

    I think you need to change the Kellogg numbers. Just looked at the 2011 employment report it has Mckinsey hiring 53, BCG 38, Bain 37.

  • http://poetsandquants.com/members/jbyrne/ John A. Byrne

    David,

    The numbers in Kellogg’s employment report include all of the school’s programs: two year, one year, MMM, JD-MBA, EMBA and part-time. The numbers we’re using are for the school’s two-year and MMM programs. That way, we’re comparing apples to apples when we compare these numbers with other schools.

  • bschooler

    Berkeley looks pretty strong in Tech. Quite big numbers for the smallest class size.

  • tiffany

    Fuqua is on a roll ! wow

  • Vladmir

    I cannot agree more. Fuqua is going places. I was in Asia recently for work and the Duke Brand is Grand over there. Asia’s growth will have a positive impact on all busines schools, but particularly Fuqua. An article or even some info on the great stuff happening at the school would be most welcomed!
    On a personal note, if Fuqua was in the top ten, I would most definately pursue it. Hopefully it breaks in the league with a bang!

  • Sticky Nicky

    Is this going to be updated with NYu Cornell etc other schools?

  • Merrill280

    John has this article been updated as you mention in earlier comments. Thanks

  • Please

    Vladmir, please. We can tell that you go to Duke. Duke is not at all a great school. It will never be a top 10. Way too crowded. It will be a second tier bschool at best.

  • http://www.facebook.com/profile.php?id=25503923 Bruce Vann

    Please, I’d like to congratulate you on earning your Certified Hater Acreditation.  It takes hard work to hate so hard on a good school like Duke.  And you hate with such fury and fervor that you almost sound bitter.  Good job.  Now if you could use that energy to actually get into an Elite business school it’ll add more credibility to your rant.

  • JohnAByrne

    Yes, the story has been updated. But when you start writing about stats, you find out the updates can be endless. 

  • Please

    Please. I already graduated from a top 2 bschool. You can get me whatever accreditation you want (it’s spelled with two C’s). It wouldn’t matter because Bruce Vann means nothing. You are accepted to Duke, if you choose to apply. It sounds like you two will get along just fine at such a “fantastic” school. I remember meeting this Chinese American way back from Duke. He hardly spoke any English..such a shame

  • Kylejwillner

    I totally agree….Duke is overated in every ranking no matter what if its done by US News and world….three of my friends were choosing between Duke and Darden this year they all chose Darden…I think that give some insight into Duke’s actual place in the world among matriculants

  • Dukie

    Vladmir, Duke is considering by many to be in the top 10. Probably 10 is an accurate ranking. You should do more research…for your own benefit – I could careless where you end up. Please and Kye, you guys are so immature and ridiculous. Please, there is no way you went to a top 2 business school – stop lying. All of my friends that go to Harvard and Stanford aren’t pricks – like you. They are actually humble yet incredibly accomplished and successful. So, it is hard to believe you convinced Dee Leopoldt or Derek Bolton to let you in – come on now. Stop bu*lsh*ting!

    Kyle, you and your friends shouldn’t apply to Duke – frankly you wouldn’t fit in with the community given your unfounded elitist attitude. I know many amazing people at Darden; It concerns me that you and your friends managed to slip through the Admissions cracks. I guess certain processes aren’t perfect such as Darden Admissions…I just hope this really isn’t indicate of Darden because that would be unfortunate.

  • Dukie

    Yea Kyle, because 3 is such a large sample size. I’m sure I could take 3 from Duke who were exactly in the same predicament as your friends…

    Learn how to argue better with meaningful data points because right now you sound like a certified dumba*s.

  • Dukie

    False Jack, as I mentioned, I think a “10″ ranking is accurate. And, where are you getting your assertion that it is not considered a “top 10″ school? Just out of curiosity…

  • new_guy

    Hi Experts,

    I recently got admitted to the full time MBA program at Yale SOM and Duke Fuqua. I am an international candidate and want to break into investment banking post my MBA. which school would you suggest?

    Thanks

  • mvpnayo

    Poets & Quants has the funniest anti-NYU bias. Never mentions them here and always talks the school down in other posts. Its okay, you were rejected from NYU and are jealous of people who got the unfair advantages of being in NYC during their MBA while you were in Chicago or Hanover or wherever. We forgive you!

  • JohnAByrne

    Not so. I’m a former New Yorker who loves the Stern School. And I don’t have an MBA degree. But thanks very much for forgiving me!

  • Tim

    Neither Yale nor Duke are finance focused, but if you were able to get into those schools I think you would also have a shot at Columbia or NYU, which are definitely more finance based schools and is better for Ibanking.

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