INSEAD vs. LBS – which is better for a post-MBA consulting career?
The consulting sector is now being restructured to meet new corporate requirements, particularly digitization, data analytics, and sustainability. Consultants are there for major decisions about the firm’s future to guarantee that every inch of data is studied and a solution that assists the organization in emerging from a crisis is developed.
That is why consulting is becoming more popular as a career path for MBA students. Although the term “consulting” might be vague and would easily confuse an applicant, don’t worry, we’ve got you covered.
This article answers most of the questions for these two top tier B-schools when it comes to MBA in consulting, whether it’s deciding between INSEAD vs. LBS, or learning about job opportunities, which school provided better placement and ROI, this article covers all of the major questions one might have about this program. This article summarizes the consulting programs that INSEAD and LBS prepared their students for.
Here is the Snapshot of the article:
INSEAD VS. LBS: MBA IN CONSULTING
Consulting is an excellent professional path for critical thinking, planning, strategic consulting, and communication skills.
Consulting assists individuals in developing these abilities, which are frequently necessary when working in the corporate sector. A consulting position produces a wide range of skills, exposes you to various industries, and opens up doors to a variety of options later in your career.
INSEAD and LBS provide multiple programs in which consulting is the most popular program. There has always been a heated debate about which school is superior between the two regarding the consulting program.
Let’s look at the different types of consulting programs that INSEAD and LBS provide.
TYPES OF CONSULTING FIRMS
|Management in Consulting assists companies in improving their performance by analyzing current organizational issues and developing improvement strategies.
For example – Strategy, marketing, and due diligence have always been solid areas. From automotive to telecommunications, it covers a wide range of industries. As a result of the high daily expenses, fewer projects and smaller teams are needed.
|Within the organization, serve various business divisions and geographies.
– Compete for projects with other consulting businesses.
– Only one or a few offices are available due to the small size.
-Making the switch to business units
|Concentrate on advising the company on leveraging technology to achieve its goals.
For example – Estimating, combining, implementing, deploying, and administering IT systems on behalf of the company.
Due to the nature of projects, they usually have larger teams and longer durations.
|Specialized Boutique Firms
|Provide suggestions for resolving particular issues.
Specialist in one field: finance, healthcare, energy, TMT, operations, brand management, and others.
|Historically strong in audit and tax, its strategy and operations staff have grown over time.
Mergers allowed businesses to provide a more comprehensive service to their customers.
NETWORKING AND JOB POSSIBILITIES
A management consultant’s profession is challenging, with travel needs, rigorous deadlines, and ambitious targets, and INSEAD and LBS both prepare them effectively. Because of INSEAD’s and LBS’s stronghold in teaching consulting, 46 percent of students pursue a career in consulting after graduation.
INSEAD MBA alumni have found employment in over 60 countries across the world. Most stay in Europe, with the majority (38 percent) obtaining jobs in Northern and Western Europe and a further 3% working for enterprises in Eastern Europe. INSEAD offers tremendous prospects for MBAs who want to make a difference, notably in technology, consulting, or finance.
LBS MBA alumni have found employment in over six continents. Most of them stayed in the UK (52%), apart from students staying and working in London, 10% got into the top firm in Europe, 13% in Asia, 9% North America, 9% Latin America, 5% the Middle East/Africa, 2% Australia and New Zealand.
WHICH SCHOOL HAS A HIGH RATE OF PLACEMENT IN CONSULTING?
Numbers speak for themselves, and as you can see, we compared both schools’ recruiters and discovered that recruiters hire more students from INSEAD than from LBS.
The figures in brackets represent the number of students who returned to their previous employment after graduation.
GOT SELECTED BOTH IN INSEAD AND LBS. HOW TO CHOOSE?
It is difficult to pick between the two schools; both are well-known and have extensive international exposure, but what factors should be considered before deciding between them?
1) ROI: LBS – The business newspaper’s annual ranking of MBA programs calculates graduates’ return on investment (ROI) by calculating their “five-year MBA gain.” The statistic compares predicted earnings with and without an MBA over five years, less the cost of fees, tuition, and foregone pay. According to Forbes, LBS’s “five-year MBA gain” is $US93,100. Among two-year foreign MBA programs, this statistic reflects the highest ROI.
The INSEAD is a one-year program, which is advantageous from an investment standpoint because you only need finances to sustain yourself for one year. Compared to what people were making before the program, post-MBA earnings doubled. It benefits you personally from an investing standpoint; you will see the benefits in the next five to 10 years.
2) If we speak about earnings, INSEAD provides more recruitments than LBS. INSEAD is a one-year program, and LBS is a two-year program, which means LBS will cost more than INSEAD, but when we look at average salaries, there isn’t much of a difference, which is where INSEAD is a step ahead of LBS.
So, if one student attends LBS and another attends INSEAD, the INSEAD student will begin earning and covering all debts before the LBS student because of the one-year program, implying that the ROI would be higher.
3) Post-MBA goals – We attempted to discuss all the various aspects that may match the objectives that will help you. Post-MBA goals can be varied and may vary from person to person.
4) Diversity –
5. Tuition fee – While the INSEAD MBA costs over $107k in tuition, the LBS costs around $115,257.
We included a few common factors that applicants consider, but it does not imply you should choose a program or school based on these few factors. Sometimes your profile demands something, and you end up pursuing something else. Going through your profile is the first step before deciding on a school.
And this is why our experts assist you in analyzing your profile and guiding you accordingly, as well as assisting you in determining what would be best for you. Schedule a call with our experts and get a free profile evaluation to get a head start.
Frequently Asked Questions
Which is better, LBS or INSEAD?
Your career objectives will determine it. In general, an MBA from a top school can significantly increase your lifetime earning potential and provide you with access to an alumni network that can assist you in a variety of ways throughout your career. However, choosing the best business school for you depends on your specific career goals and how well they align with the school’s strengths.
Is INSEAD cheaper than LBS?
Yes, While the INSEAD MBA costs over $107k in tuition, the LBS costs around $115,257.
Is LBS good for consulting?
Both LBS and INSEAD are excellent business schools, and to state one is better than the other would be unfair. Your job goals will influence which institution you should go to for your MBA. To specify your goals and select accordingly.