As for the credibility of a consultant with only a bachelor's degree, it's not hard for client firms to trust undergraduate level consultants, says Sameer A. Chishty '93 of McKinsey & Co. in New York.

"It's a well-known 'secret' that McKinsey works for IBM. IBM hires the company as a whole, the experienced as well as the freshmen associates," Chishty, a former Crimson executive, says. "If I know nothing about computers, that's okay, because someone here probably does."

Clients may at first be taken aback by consultants' youth, especially since the client knows more than the consultant about the industry. But they come to realize the consultant has many insights to add, says Paresh N. Shah at Monitor Company in Cambridge.

In addition, most beginning consultants are introduced gradually to responsibility.

"We don't throw people to a board of directors their first day of work," Shah says. "We offer training and a support system."

Tough Lifestyle

Students give various reasons for their interest in consulting. But one common explanation offered is the attractiveness of the lifestyle.

"I think a lot of it has to do with lifestyle," Cosentino says. "A typical investment banker put in 80 to 85 hours of work. For consulting, it's around 60 to 65."

While consultant firms hesitate to divulge salary rates, starting salaries typically range from $35,000 to $40,000.

Paolo Abelli, a Business School student, worked for Monitor Co. before returning to academics. He calls consulting the "liberal arts" of business.

"In banking they treat you like a CD-ROM, turning you on and off," Abelli says. "In consulting, you're put in a pretty good position...a good consulting experience will teach you how to ask questions."

Many firms say the educational benefit of being a consultant is one of the profession's biggest attractions.

"Consulting has given a strong impression that you can go in quickly and make an impact," says York M. Eggleston IV '92, who worked for New York-based Booz Allen & Hamilton Inc. "There is the impression that this is where the smart people are. Hey, you can continue to get an education here."

Industry-Wide Growth

The growing number of people entering consulting after college reflects the growth of the industry itself. In 1993, some 80,000 consultants sold $17 billion of advice, a 10 percent increase from 1992, according to a recent issue of Business Week.