The Evolution of Consulting: A Golden Opportunity for Forward-Thinking MBAs
It may not be news to you that the consulting industry is changing. As the WSJ recently reported, there's nowhere this is more evident than McKinsey. I was struck by the fact that AI-related work now accounts for 40% of revenue.
While many may perceive this as bad news, savvy MBA candidates should see what it truly is: an unprecedented opportunity to get ahead of the curve.
The new reality: Go beyond PPT
The WSJ article shares that McKinsey has deployed 12,000 AI agents (!!) alongside its 40,000 employees. This is a fundamental change to how they work. However, it seems necessary if the firm seeks to boost productivity AND partner with clients to implement AI solutions.
As the article discusses, client organizations don't want consultants to deliver PPTs and bounce. Instead, they want partners who can architect AI solutions, navigate implementation challenges, bridge tech and company strategy, and deliver real ROI.
What AI can't replace: The human edge
AI can analyze data and generate presentations much more quickly than humans can. However, it (currently) struggles to do the following:
Build trust: Client relationships are built on human connection and credibility that algorithms can't replicate.
Navigate organizational politics: Every company or organization has complex interpersonal dynamics that require EQ and a human touch.
Inspire change: You need leaders – generally people – to motivate teams, overcome resistance, and drive true transformation.
Transform complexity to action: While AI models can synthesize complex information, humans ultimately have to understand and implement it.
The skills MBA candidates need NOW
The consulting firms recruiting students at top MBA programs aren't looking for the same profiles they were five years ago. While analytical skills are still important, consulting firms will seek out a broader, more technical skillset:
Tech fluency (Not just awareness)
Aspiring consultants need hands-on experience with AI tools and platforms. That means understanding how these technologies work, their limitations, and their practical applications.
Implementation experience
Clients want candidates who have actually built something, not just conceptualized it. A candidate's ability to show concrete examples of leading projects – from conception to completion – is becoming table stakes.
Cross-functional collaboration
The most valuable consultants can speak two languages: tech and business. This requires candidates to understand the strategic implications of technology decisions and the practical realities of implementation.
Your action plan: Upgrade your skillset
For MBA candidates who are ready to embrace this transformation, here's your roadmap:
1. Develop tech skills
- Take a Python or other programming course
- Explore no-code AI tools
- Consider certifications to supplement your MBA coursework
2. Gain implementation experience
- Lead an AI pilot at your current company
- Join AI implementation projects
- Build a portfolio – before or during your MBA program
3. Communicate your value
- Study successful AI transformations
- Practice explaining complex concepts
- Network across functions
The real opportunity
While everyone else debates whether MBAs and consultants are becoming obsolete, forward-thinking candidates are building the skills that will make them indispensable in the coming years.
McKinsey's transformation illustrates a broader industry trend. Candidates can freak out... or do something about it.
The opportunity is yours to seize. Will you adapt and lead, or will you be left behind? The choice – and the competitive advantage – is entirely in your hands.
