“The vision of the Consortium is to increase the representation of African Americans, Hispanic Americans, and Native Americans in management careers in the United States.”
Founded in 1966, the Consortium for Graduate Study of Management is a 501(c)(3) organization dedicated to increasing minority representation in MBA programs. The reality is that on average only 8% of students in a 200-person MBA class are minorities, far below the average graduate enrollment of 12% for Blacks and 9% for Hispanics, according to Bloomberg.
And that’s why the Consortium does what it does.
How Does the Consortium Work?
The Consortium is an alliance of 18 top-tier MBA programs with approximately 75 corporate partners, 800 students, and 8,500 alumni. The goal of the Consortium is to help connect top-tier minority candidates with top-tier MBA programs, while also helping those same candidates save time and money.
Every Consortium Fellow can earn a merit-based fellowship and, last year, 369 full-tuition scholarships were awarded.
Merit-Based Fellowship
For over 50 years, the Consortium has offered more than $325 million in awards to top MBA candidates across the country. The Fellowships can cover just a few thousand dollars up to full-tuition and mandatory fees for two years of full-time study. Just by becoming a member, MBA candidates are entered into the Fellowship pool. Applications reopen August 15, 2016.
The Orientation Program
One of the most compelling aspects of the Consortium is the yearly Orientation Program (The OP). The program is a series of seminars and workshops. The goal is to provide intense, hands-on experience for students, offering career development advice from the best MBA programs and corporations in the country.
Many first-year MBAs who attend The OP leave with an internship offer in hand. The Orientation Program is open to all Consortium members and is held in early-to-mid June each year.
Consortium Member Schools
Currently, 18 MBA programs are part of the Consortium. Consortium Fellows can apply and gain fellowships for any of the following programs:
- University of California, Berkeley Haas School of Business
- UCLA Anderson School of Management
- Carnegie Mellon University Tepper School of Business
- Cornell University Samuel Curtis Johnson Graduate School of Management
- Dartmouth College Tuck School of Business
- Emory University Goizueta Business School
- Georgetown University McDonough School of Business
- Indiana University Kelley School of Business
- University of Michigan Stephen M. Ross School of Business
- New York University Stern School of Business
- The University of North Carolina at Chapel Hill Kenan-Flagler Business School
- University of Rochester Simon Business School
- University of Southern California Marshall School of Business
- The University of Texas at Austin McCombs School of Business
- University of Virginia Darden School of Business
- Washington University in St. Louis Olin Business School
- University of Wisconsin-Madison Wisconsin School of Business
- Yale School of Management
What Are the Benefits of Becoming a Consortium Member?
There are four main benefits to becoming a Consortium Member:
- Network: When you become a member of the Consortium you immediately gain access to 75 corporate partners, 8,500 Consortium alumni, and 18 top-tier MBA programs.
- Fellowships: Consortium members have a 70% chance of receiving a fellowship, and could potentially receive a scholarship covering the cost of tuition for two years.
- Simple Application: By becoming a Consortium member you have the chance to fill out one application to apply for six different schools, saving time and money.
- Cost Savings: MBA students who apply to school through the Consortium can apply to two schools for just $150, three schools for $200, four for $240, five for $275, and six for $300. The usual cost is $275 per application.
How to Become a Consortium Fellow
Becoming a Consortium Fellow is simple. Just as you apply for an MBA program, you can apply to the Consortium. Selection is based on academic records and evidence of commitment to The Consortium’s mission of promoting the inclusion of African Americans, Hispanic Americans, and Native Americans in business. Community activism, professional involvement, and life experience are keys to admission.
Applicants who have spent time in one or more of the following organizations are most likely to be accepted.
- Leadership Education and Development (LEAD)
- Inroads
- Sponsors for Educational Opportunity (SEO)
- Urban League
- National Association for the Advancement of Colored People (NAACP)
- Fraternity or Sorority members activities that align with the mission
- Campus chapters of NAACP, Urban League, or similar organizations
- Local community organizations that align with The Consortium mission
Students looking for admission into the Consortium should start by filling out a general application. After that, students are expected to respond to two required essay questions and to participate in an interview. Admissions open annually on August 15th and close on January 5th.
Learn More About the Consortium
For MBA candidates and students who are not sure if the Consortium is right for them, the Blog is an excellent opportunity to learn more information. The Consortium Blog frequently provides detailed information about anything and everything that matters to the Consortium and is available to members and non-members alike.