Consultants work in wide-ranging domains and they generally share some common educational profiles, but each specialty also attracts its own mix of majors and advanced degrees.
In management consulting (including strategy), IT consulting, healthcare consulting, and financial consulting, most professionals hold at least a bachelor’s in a relevant field. Many also pursue master’s degrees or certifications. Please find below the typical undergraduate majors, required advanced degrees, present trends, and firm type differences for each consulting area. Our focus in this article will be on management consultants, IT consultants, healthcare consultants and financial consultants.
Management Consulting (Strategy & Operations)
- Common undergraduate majors: Top firms emphasize quantitative and business backgrounds. Nearly 42% of entry level hires at McKinsey, BCG, Bain (“MBB”) and similar firms studied business or economics, and roughly another 37% came from STEM fields (engineering, computer science, mathematics, etc.) casecoach.com. (Other majors such as political science, liberal arts or humanities do appear, but successful candidates usually demonstrate strong quantitative skills.)
- Advanced degrees: Many consultants earn an MBA or other master’s before or after joining consulting. Data show that 67% of management consultants hold a bachelor’s and 22% a master’s degree coursera.org. Top consulting firms highly value MBA graduates (generally from leading business schools), and specialized Master’s/PhDs (in engineering, economics, etc.) are sought for niche practices (e.g. analytics, AI, R&D). Holding an MBA or MS in a relevant field is seen as a competitive advantage coursera.org.
- Industry trends: There is a growing emphasis on data analytics, AI/digital transformation, and sustainability. STEM and data‐science backgrounds are increasingly prized, reflecting consulting’s shift into technical domains. Recruiters also note a move toward skills based hiring: firms look for demonstrable analytics or coding skills (sometimes outside traditional degrees) in addition to pedigree consultancy.eu. At the same time, business/economics majors remain highly relevant for core strategy and operations work.
- Firm‐type differences: The “Big 3” strategy shops and major Big 4 consulting arms typically require elite academic records and often recruit many MBA graduates. MBB firms in particular source heavily from top universities and prefer candidates with strong quantitative or business coursework and high grades casecoach.comcoursera.org. Smaller or boutique consultancies tend to cast a wider net: they may hire more from non‐target schools or from specialized industry backgrounds. For example, a boutique supply‐chain firm might favor applicants with engineering or logistics experience even without an MBA. In general, MBB/big firms prize brand-name degrees and advanced credentials, whereas boutique/smaller firms often place more weight on niche expertise or past work experience in a sector.
Healthcare Consulting
Common undergraduate majors: Many healthcare consultants start with an undergrad in healthcare related fields (such as healthcare administration, public health or nursing), or in business disciplines (business administration, economics). Pure clinical degrees (MD, pharmacy, nursing) are less typical for general healthcare consulting roles but are quite valuable in specialized health tech or clinical advisory teams. Non-health majors (engineering, IT) do enter healthcare consulting when combined with healthcare experience or training.
Advanced degrees: Advanced degrees are the norm in healthcare consulting. Most firms expect or prefer consultants to hold a master’s degree. Common choices are a Master of Health Administration (MHA), Master of Public Health (MPH), or an MBA (often with a healthcare focus) online.maryville.edu. Some employers explicitly require candidates to have at least a master’s for consultant level roles online.maryville.edu.
Industry trends: Healthcare consulting is expanding in areas like digital health, telemedicine, and data analytics. Consultants who can blend medical knowledge with IT/data skills (e.g. health informatics, biostatistics) are increasingly in demand. As healthcare systems adopt AI and large scale analytics, backgrounds in data science are becoming more prized alongside traditional health/business expertise. There is also growing interest in consultants who understand healthcare policy and population health.
Firm‐type differences: Large strategy and Big 4 firms (McKinsey, BCG, Deloitte, etc.) hire many MBA graduates into healthcare practices, and they run special recruiting tracks for professionals with medical or clinical degrees. These firms typically require high-level academic credentials (MBA/MHA/MD) for consulting roles. Smaller boutique healthcare consultancies or boutique life-science strategy firms may instead recruit more directly from hospital administration, pharma, or biotech backgrounds. They might value specialized domain knowledge (such as a former hospital executive or specialized MS in health informatics) even if the candidate lacks an MBA.
IT/Technology Consulting
Common undergraduate majors: IT consultants almost invariably have technical degrees. Recent data show 64% of IT consultants hold at least a bachelor’s degree research.com, with the largest share majoring in Computer Science (about 21%), and significant portions in Business (16%), Computer/Information Systems (10%), and Information Technology (10%) research.com. In practice, many also come from electrical or software engineering. Business or liberal‐arts majors are less common unless paired with strong IT skills.
Advanced degrees: A majority stop after the undergraduate level, though some later earn technical master’s (e.g. MS in CS, cybersecurity, data science). MBAs are less common in IT consulting than in management consulting, but are sometimes pursued by those moving into IT strategy or project leadership roles. Professional IT certifications (like PMP, AWS, Cisco, or cloud/cybersecurity certifications) are often more important than an MBA in this field.
Industry trends: The field is growing due to digital transformation. Demand for cloud, AI/ML, cybersecurity and data analytics expertise is surging, so graduates with training in these areas (even via bootcamps or certificates) are highly sought. Skills-based hiring is on the rise, so candidates with non‑traditional education (e.g. coding bootcamps or trade certifications) can sometimes enter IT consulting if they demonstrate technical prowess consultancy.eu. Traditional tech degrees remain highly valued, but newer fields (data science, machine learning) are becoming key specializations.
Firm‐type differences: Large IT consultancies (e.g. Accenture, IBM, Deloitte Technology) typically expect recruits to have solid technical degrees; they also run campus programs for computer/IT majors. These firms may favor MBAs for client-facing leadership or strategy tracks, but most entry roles are for tech grads. Smaller/boutique tech consultancies (or startups offering IT consulting) may be even more flexible on formal education. Some hire directly from coding programs or niche tech schools. So, big tech consultancies look for strong credentials (often including internships or proven tech projects), whereas smaller firms might emphasize hands on experience or specialized skills (e.g. a cybersecurity certification).
Financial Consulting
- Common undergraduate majors: Financial consultants (including corporate finance, risk advisory, corporate strategy in financial services) typically major in finance, accounting, or economics investopedia.com. Mathematics, statistics, or engineering majors also appear, especially in quantitative finance roles, but most have a finance/banking background. Business administration degrees with finance concentrations are common as well.
- Advanced degrees: Many financial consultants hold an MBA, often from a top business school, which is seen as key for career advancement investopedia.com. In addition, professional credentials are frequent: CFO-aspirant consultants often earn the Chartered Financial Analyst (CFA) designation or a CPA (especially those focusing on accounting or tax consulting). Specialized master’s degrees (like a Master’s in Finance or Financial Engineering) are also pursued by those entering quantitative finance advisory. In short, an MBA plus relevant professional certifications is the classic profile.
- Industry trends: The financial services sector is rapidly evolving, so consultants with fintech or data analytics skills are increasingly valuable. Degrees in data science, computer science, or financial technology are gaining traction among young hires. Sustainability/ESG credentials are becoming more common as well, given the rise of green finance advisory. However, traditional finance majors remain in demand for core tasks like valuation, M&A advisory, and banking etc.
- Firm‐type differences: Major consulting firms (MBB and Big 4 financial advisory practices) typically recruit many MBAs with finance backgrounds, and often prefer or require certifications like CFA. These large firms also hire from feeder industries (banking, investment firms) and expect strong pedigree. Smaller boutiques accounting firms may place more weight on technical finance credentials. They might require candidates to be CPAs or have master’s in accounting/finance rather than an MBA. In niche finance consulting (e.g. treasury advisory, forensic accounting), an accounting degree or CPA can be even more valuable than an MBA.
The baseline expectation in almost all consulting field, is a bachelor’s degree in a relevant discipline. An internship or industry experience is better. Advanced degrees remain important. Especially MBAs. However, the exact type depends on the specialty. STEM and analytics skills are favoured across the board. Large firms generally set higher academic bars and recruit broad skill sets, while smaller or boutique firms are more likely to hire for specialized knowledge or niche credentials (even without an MBA).
While we tried to include the latest data, things are changing fast as tech and business world are phasing through decisive changes. Please refer to authority sources for more in-depth analysis.
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