MBA hiring by industry: What we’ve learned about hiring across consulting, tech, and finance

Recently, we collaborated with Alex Hamilton of Live Data Technologies to analyze the post-MBA jobs of 4K+ MBA grads of the class of 2024.  

The overall placement data was just the beginning of our analysis. Now, let’s take a look at what’s happening across consulting, tech, and finance.

MBB or bust? Not exactly

While hoards of consulting candidates target MBB roles, they’re not the only firms hiring MBA grads. 

BCG was the top MBA consulting employer in our sample set, hiring 17.5% of grads, with Deloitte following at 15.3% and McKinsey at 14.4%. This generally tracks with prior cycles.

However, the MBB firms only accounted for 38% of consulting placements in our analysis. That means 62% of MBAs pursuing consulting landed at other firms. These other firms included Deloitte, Accenture, FTI, L.E.K., and many others not listed in this chart.

Alex weighs in: "When people think about consulting jobs, they picture McKinsey, BCG, or Bain as the only destinations. We’ve seen in the hiring data that the reality is different. A lot of MBAs end up at other firms, sometimes smaller consultancies, sometimes big companies you don’t usually associate with consulting. The job skills are transferable, and there are more doors open than people assume."

What this means for aspiring consultants: There are opportunities for MBA grads outside of MBBs. For those dead-set on entering consulting, a non-MBB firm is the more likely (and often less competitive) destination. Build relationships across the ecosystem, create plans A, B, and C, and identify firms where you have a strong shot of getting in. 

In tech, opportunities extend far beyond FAANG companies

If you’re targeting tech roles and are laser-focused on Google or Meta, you might be limiting your opportunities. 

In our sample set, Amazon hired the most MBA grads (at 11%), with Microsoft at 3.4% and Google at 2.4%. Meta lightly registered, hiring just 1.6% of tech-bound grads. 

Other large organizations, like IBM, Salesforce, and Adobe, consistently hire MBAs. However, what’s more interesting about this chart is which companies aren’t on it. Hundreds of companies – many of which you probably haven’t heard of – are hiring MBA grads in all types of tech roles. 

Alex says, “Most MBAs entering tech actually go to Amazon, Microsoft, or mid-sized companies you might not even know by name. The takeaway is that the tech job market is broad. If you focus only on the top 3-4 companies, you miss hundreds of opportunities where MBAs are building careers in product, operations, or strategy roles.”

What this means for aspiring tech professionals: The market for tech roles is much more diverse than FAANG companies. There are hundreds of opportunities across Product Management (even today), product marketing, operations, and other functions at smaller companies. If you’re determined to break into tech, identify your role first, and work from there.  Check out Doug Massa’s framework for more guidance.

The market for finance roles is fragmented

Big banks are still recruiting and hiring MBAs, but our ample data suggests that this market may be even more fragmented than consulting or tech.

In our analysis, JPMorgan, Capital One, and Bank of America hired the most grads – but not in huge numbers. Other banks, like Morgan Stanley, Goldman Sachs, and Wells Fargo hired a similar proportion of the class. 

Overall, the top 10 finance employers accounted for approximately 25% of placements in the sample. That means 75% of MBA grads in finance landed roles at other organizations not on this list.

Alex notes, "We’ve seen in the data that finance industry hiring for MBA grads is even more spread out than consulting or tech. Yes, big banks like JPMorgan and Goldman show up, but they only account for a slice of the placements. Many MBAs go into roles at regional banks, fintech startups, or in corporate finance inside Fortune 500 companies. For students, that means if you’re flexible, you’ll find finance opportunities in many different corners of the market – not just on Wall Street."

What this means for aspiring finance professionals: While the data suggests that the finance market for MBA grads is very fragmented, there are opportunities elsewhere. MBAs can find opportunities in corporate finance, at regional banks, asset management firms, fintech companies, and more. So, if you’re seeking roles in finance, don’t limit yourself to the big names – branch out. 

The bigger story

Across these big industries, a few trends stand out:

• Big companies don’t dominate MBA hiring in ways you might expect
• The long tail exists – even in consulting, tech, and finance
• Brand recognition ≠ market share

If you’re an MBA applicant or even a current student, this data and analysis should open your eyes to other possibilities. The market is much more open than employment reports or headlines might suggest – the challenge is determining where. 

About Live Data Technologies and their data

Live Data Technologies tracks the careers of over 95M white-collar professionals in real time. Every month, we record millions of job changes—both moves between companies and internal promotions.

Our machine learning system uses publicly available information on the internet and translates job titles into consistent levels (Manager, Director, VP, etc.) across 95M+ records, so you can compare roles across industries and companies without the apples-to-oranges problem.

Click here for more information on Live Data Technology data platform and products

About this Insights Study

For this report, we analyzed 4,231 U.S. MBA graduates from the class of 2024, focusing on their first role after graduation at public and private companies. 

Percentages are shown as “% of known” to ensure clarity and transparency.

This dataset gives a near real-time view of where MBAs are actually landing jobs, beyond the handful of brand-name employers usually highlighted in rankings or career brochures.

Explore Company Hiring Trends Data Yourself

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