Management Consulting with non-MBA Master's Degree
Hi all,
I will be entering a top-tier MHA (Master of Health Administration) degree program this fall and I'm thinking about going into healthcare management consulting afterwards. By the time I graduate I will have two full years of working experience (1 in my current job and one in the residency I will do for my program). If I'm looking at going to a Deloitte or a Booz Allen, what type of salary do you think I will be offered/what level position will I be eligible for right out of school? I'm assuming it won't be as high as MBA graduates get offered.
Any response would be much appreciated! I know a lot of people wonder about this type of stuff.
What type of work experience do you have if you don't mind me asking? I also look forward the responses since I'm looking into the same degree/career path.
Sounds like you're going to the Hopkins MHA program. If so, Deloitte S&O recruits from the program for the residency year. You would join as a consultant with a starting salary of $85k.
The above sounds right. Other firms would most likely offer a similar salary/level. There are exceptions, for example Huron and PwC. I've seen PwC offer MHA grads positions as associates ($65K), which is the equivalent of a BA at Deloitte. Huron offers MHA grads analyst positions ($60K).
Definitely leverage your industry specific "MBA" to firms or apply to firms (like Deloitte) that recognize the value of your degree. There is no reason a fresh college graduate with a BA in History should be getting paid the same as someone with an advanced degree and industry specific knowledge from a top tier school.
Another thing to keep in mind with Deloitte: apparently career progression for MHA grads isn't quite the same as for others. For example, although you can be promoted to "senior consultant", you will NOT be paid the same as incoming senior consultants that are fresh from MBA programs (industry-specific knowledge etc. be damned). From the current MHA-holding Deloitte types I have spoken to, this variance exists regardless of prior work experience etc.
Thanks for all of the responses, this has been more informative than I anticipated!
HIT14, would you mind elaborating a little bit if you can? Is it more difficult to progress up the ladder or are the salaries just lower? Also, how much lower would the salary be? I appreciate your help!
From what I've heard, it's no more difficult to actually move up the ladder. However, the salary apparently doesn't keep pace. Unfortunately, I dont know how much lower the salary actually is, but you could probably look at ManagementConsulted salaries for MBA hires and pick a point between that salary and the entry-level $85k one. Feel free to PM me if you want additional information about consulting prospects out of the Hopkins MHA program.
I'm about to graduate from a similar program and will be joining Deloitte S&O at the consultant level this fall. However, my starting offer is just over six figures although not as high as the direct MBA hires.
HIT14, I'd be interested to hear anything else your Deloitte types may have mentioned about the discrepancy in salary levels.
remardy, if you don't mind me asking, how many years of work experience do you have?
A couple months shy of 2 years before grad school. Half a year during grad school. Feel free to PM me for details.
Remardy, I unfortunately dont have any further details regarding the issue. Perhaps it was just a function of the amount of work experience they had, but my assumption was that large firms generally try to have standardized "salary bands". In addition, one of the individuals I spoke to had 2 years of experience prior to entering the program, and therefore shouldn't result in the (seemingly) sizable salary discrepancy.
Just wanted to provide another data point. Like remardy I will be graduating from a similar program (I was offered admission to the Hopkins MHA program as well) and will be joining a boutique healthcare consulting firm in the fall. My starting offer is just under six figures (not including bonuses).
I had 3 years of clinical experience prior to graduate school plus a summer internship at a internal consulting group for an integrated healthcare system.
any update on this thread? did you find out anymore on salary progression
Commented in the other thread as well, but I came into graduate school with a little more than 1 year of work exp and was offered six figures at Deloitte. Could be due to the fact that I'm moving to a city with a very high cost of living.
my friend did a MPH and got an offer for $100k at Deloitte.
I know I'm bumping an old thread but I'm interested in the masters program at JHU. Was wondering if anyone else had any information they could share...Also what kind of GMAT is competitive at this program?
I know I'm bumping an old thread but I'm interested in the masters program at JHU. Was wondering if anyone else had any information they could share...Also what kind of GMAT is competitive at this program?
any update on MHA consulting salaries?
Non-MBA Masters for Management Consultant (Originally Posted: 04/11/2016)
Hey all, so I would like to hear other monkey's opinions regarding non-mba masters program. I'm a 1st year consultant with Deloitte's strategy group. (its not named monitor-Deloitte in my country, but offer same services as monitor)
i graduated from top 20 school (non-US) with 2.X GPA and landed a gig here at my home country in Asia. As a new initiative within the firm, they are giving opportunities to attend non-MBA masters' programs with full funding. Most my engagements (6 thus far) have been in the manufacturing sector, but I would like to move to TMT or PE industries. I will most likely be staying at the firm for the foreseeable future as I enjoy my time here.
I was wondering what types of programs would be available to people like me? I have been receiving excellent reviews and have 700+ gmat score on the 2nd try despite low GPA. I would like to hear your opinions monkeys!
Are you looking at schools in Asia or the US? What will the company support you with?
Hey, thanks for the reply. Doesn't matter the location. I can go to Asia, Europe, North America, wherever. Personal preference would be institutions with global pedigree as although my undergraduate institution is a "target" and ranks very well, it is not very well known in the Asian markets.
Company will pay for tuition and half of living cost but I mean tbh, I don't really care about the money that I have to personally spend. It might sound douchebag, but coming from family money, I do put level of education and pedigree over how expensive the education would cost me.
Thanks for the help!
I would go to a school in the US. The US is kind of seen as the "gold standard" for higher education. Maybe look at Master's in management programs or a master's in the field related to the industry you want to be in long term.
Masters in Public Health to consulting (Originally Posted: 03/13/2013)
How hard is it breaking into management consulting (MBB/any other well respected firm) with an MPH degree in health management from a top ranked school? By the time I start recruiting I would have had extensive health economics research experience, multiple publications, an IBD SA internship, job as a business development manager at a law firm, and hopefully an internship at a consulting firm (next summer)
Bump?
Deloitte and PwC's healthcare verticals recruit at top ranked MHA/MPH programs so you should benefit from OCR. Otherwise reach out to alumni working at firms you are aiming for.
Network. Seriously. Nonstop. MBB seems pretty tough if you're coming from the health side without a MD or PhD, so look into more boutique firms. They seem to appreciate the health econ mph background. Accenture, Leerink, IMS, LEK, PwC, Oliver Wyman, ZS, Deloitte, the list goes on.
Deloitte definitely recruits out of MPA/MPH programs. I know people that joined Deloitte S&O from UT (LBJ School) and Arkansas.
Harvard too, but it's Harvard.
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