To improve performance and productivity, consultants, also known as management consultants or analysts, work with companies and organizations. Businesses hire consultants to come and observe their activities, evaluate their budgets, interview their staff, and provide insights. Consultants collect and analyze data to develop a strategy for the company.
Such strategies may include the implementation of new policies and practices, the reorganization of a business structure, or changes in staffing. Often times, struggling companies find these services to be invaluable. It is often a company’s last chance to get on the right track.
Management consultants may specialize in a particular type of consulting, such as health care, engineering, software, government, or education. Their work involves spending long hours away from the office and home, visiting clients and observing their companies. To learn more about this profession, continue reading!
Training to Become a Management Consultant
Consultants can come from a variety of backgrounds in education. There is no one-degree program that prepares students for this profession. As such, management consultants may have bachelor degrees in business, economics, finance, accounting, political science, computer science, or English.
Because management consulting focuses on improving business operations, it can be helpful to have a management or business background. For this reason, some management consultants hold a Master of Business Administration (MBA) degree.
It takes a unique set of skills to be a consultant. You much be able to combine analytical skills with excellent interaction skills. Much of the time, a consultant will be involved in analyzing data, drawing up a client’s story, and ultimately making suggestions. Nonetheless, a significant part of the project will include interviewing staff, presenting information to a manager’s team, and convincing key players that your proposals are sound.
For business analysis, most colleges and universities offer graduate certificate courses. Students in certificate programs for business analysis complete a small number of courses that may include project management, quality assurance, and quality control, as well as other business requirements. A prospective management consultant may combine this education with their background in a particular field. These fields include engineering or computer science.
Average Salary of a Management Consultant
A management consultant’s average salary in the U.S. is $84,828 per year. Salary estimates are based on 518 salaries that have been anonymously submitted to Indeed by management consultants and collected over the past 36 months from past and current job advertisements. A management consultant’s average tenure is 1-3 years.
Where to Find Jobs as a Management Consultant
As they gain experience, management consultants can move beyond their company’s entry-level positions, have more responsibility, and work more directly with customers. Competent consultants can either become partners in their company or even open up their own consulting firms.
Recruiters are used by many consulting firms to locate potential employees to fill openings. Contacting a recruiter can help you get an interview. In addition, attending networking events should be an essential part of your job search.
The Bureau of Labor Statistics estimates that management consultants’ jobs will rise by 19% between 2012 and 2020. This rate is faster than the average increase during that period for other occupations.
While there will be more jobs available for consultants, there will be strong competition for positions. The BLS expects the best job prospects to be open to candidates with graduate certificates or degrees, expertise in another field, fluency in foreign languages, and skills in sales and public relations.
If you are insightful and competent in business management, a career as a management consultant may be the perfect fit for you! In such a position, it is important to be friendly and to network well. For more consultancy-related jobs, click here.