Frequently asked questions for the general reader
The following are some of the most common questions we receive about The Consortium:
What does The Consortium do?
We are a nonprofit alliance of top-tier business schools and corporate partners dedicated to increasing the number of underrepresented minorities in business education and corporate leadership. We do this by collaborating with our member schools to recruit MBA candidates who share our mission; most of them receive full-tuition, merit-based fellowships to the MBA programs they attend.
What are the benefits of The Consortium?
Even before they become members of The Consortium, MBA prospects can apply to up to six of our member schools through our website at rates deeply discounted from what it would cost to apply separately.
Once admitted to one of our member schools and to The Consortium, members have the benefit of our network of more than 10,000 alumni, as well as attendance at our annual Orientation Program & Career Forum. There, students attend an intense slate of MBA preparation workshops and networking events, exposing them to job opportunities even before they set foot in the classroom.
How many students are members?
We typically recruit a class of more than 500 students each academic year. In 2019, we recruited a record 500 students. At any one time, 900 to 1,000 Consortium students are attending one of our 20 member schools.
How is The Consortium supported?
The Consortium receives operational support from its 80 corporate partners and from individual donations, which underwrites our operations and the annual Orientation Program & Career Forum. Members schools provide the fellowships.
Do I need to be an underrepresented minority to be a Consortium member?
No. The mission of The Consortium is to increase the ranks of African Americans, Hispanic Americans and Native Americans in business education and corporate leadership. We believe the best way to accomplish that is by recruiting MBA prospects who share a “demonstrated commitment” to that mission — regardless of race, gender or ethnicity.
When it was originally founded, The Consortium only recruited African American men. In 1970, that mission was expanded to include women, as well as Hispanic Americans and Native Americans. That mission further evolved to open eligibility to any U.S. citizen or permanent resident who can show that “demonstrated commitment” to our mission through the application process.
Who is the leader of The Consortium?
Peter J. Aranda III is the executive director and CEO of The Consortium. He is also the first of The Consortium’s leaders to be an alumnus of the program. He received a Consortium fellowship in 1985 to attend Washington University in St. Louis, where he received his MBA in 1987.
The Consortium by the Numbers
- $465 million-plus: Fellowship support provided to Consortium members since our inception
- 10,000-plus: Consortium alumni since 1968
- 1,100-plus: Applications for Consortium membership received annually
- 1,000-plus: Consortium students attending our member schools each year
- 80: Corporate partners supporting The Consortium
- 20: Member schools