Healthcare Consulting - Is MBA "Prestige" as big of a deal?
I'm in a [very] low-tier BS/MBA program and have just two classes left from the MBA. Yes I regret this now, as previously was unaware of how important a MBA's brand name was for some careers. Originally my goal was to climb the ladder in hospital administration, where perhaps prestige has less bearing, but recently have become very interested in healthcare consulting. But with my initial research from Oasis and such, I see that prestige counts a lot more, but am curious to know if it is as much of a factor as it is in related industries like finance, banking, etc.
How much does a MBA's brand name play into consulting, specifically healthcare? In both applying to and career progression in a firm? If I were to aim for a mid-level player such as Deloitte or Booze Allen, as I doubt I could make it to MBB.
For reference, I speak more to my line of reasoning in a post I made a few days ago in the B-school forum; wondering if I should drop out of my current no-name MBA altogether and start "fresh" and/or go for a MHA or MPH from an Ivy target that consulting firms actively recruit at. I'd appreciate any input on this topic as well:
[since WSO doesn't allow links...search "Advice needed: Finish low-tier MBA or Drop Out? Healthcare Consulting"]
Thank you for any constructive input as I am very new to this field and could use an "insider" candid viewpoint.
It does when you have a few more bananas.
http://www.wallstreetoasis.com/forums/advice-needed-finish-low-tier-mba…
Of course prestige matters, if you want to go to a good firm it's much easier out of a top 10 MBA. Healthcare is a bit different if you're mostly interested in provider side strategy, firms like Huron and Navigant are more open in terms of schools. I'm going to a boutique consulting firm that focuses on pharma and biotech, of the partners all have top 25 MBAs and the vast majority have top 10. You'll find that background is pretty common on that side of the industry.
See if you can take a leave of absence from your current MBA and network hard / crush it at your FA role for 2 years (assuming they don't require the MBA be completed before you start work). Then reevaluate. If you still want to go for consulting you can apply for some firms and may be able to get in directly.
I worked at a Huron / Navigant competitor and people with non-target backgrounds (myself included) broke in all the time. While it is more difficult to break in without formal on-campus recruiting it is possible through networking and possessing relevant experience. It also wasn't too difficult to jump between firms of the same caliber once you're in one of them.
If you are unable to break into consulting after 2 years then you have a couple options: 1) Continue working in industry and apply for top MBA programs with 3-5 years of total experience. 2) Apply for top MHA/MPH programs with 2 years of experience (these programs tend not to have people with significant experience and you may get pushed into an executive program which won't help with consulting OCR).
If you're not able to take a leave of absence from your current non-target MBA then finish up the last 2 classes and take a look at an MHA or MPH program in a couple years if you feel you need it.
Disclaimer: I will be pursuing a top 15 MBA and also applied to top MHA programs too.
It's not all doom and gloom though, a lot of healthcare consultancies, particularly those at regional CPA firms will look at non-targets
any update on post MHA consulting salaries at Huron / Navigant, i may be attending a target MHA program (UAB)
Huron will hire you as an analyst (same as anyone out of undergrad). $55-60k/year
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