If you enjoy solving problems, analyzing data, and supporting businesses in their growth, management consulting may be the right profession for you. You will have the opportunity to work with different companies, usually in the same sector. You'll be well compensated, have plenty of networking chances, and even have the possibility to travel.
In the following article, we’ll describe what’s it like to work in a management consulting firm and your day-to-day chores and responsibilities. The article is dedicated to all of the potential management consultants out there, so keep on reading.
If you want to build a career in management consulting, you should go ahead and start studying and gaining knowledge as soon as possible. Experts are always in demand. You can work either solo or with a management consulting firm such as FIRMSconsulting, that can help you learn, grow and prosper. Most importantly, management consultants are always in demand, and the demand will grow in the following 5 years.
All management consultants should have certain qualities and skills. Check out the following list:
Other than the professional skills, you need to have some personal skills as well. One of the most important is stress management. Management consulting is a stressful job, where you work with huge amounts of money, helping different companies. Therefore, it sometimes gets a bit overwhelming. You need to find the right way to release your stress, without it affecting your performance or personal life. Additionally, you must be flexible towards your job requirements. Especially, as you’ll likely work overtime and travel frequently because of the clients' destination.
You should work on improving your skills because only that way you’ll be able to grow as a management consultant. Learn about different strategies, watch a lot of videos, talk to your colleagues, ask for advice, and always think out of the box. Normally, the solution will lie in front of you, and you just need to see it differently.
If you haven’t gotten it already, now it’s the right time. It’s never too late to chase your dreams. Just because you weren’t able to continue your studies when you were younger, that doesn’t necessarily mean that it’s all over. Different majors will teach you valuable things that you’ll need in your management consulting career. This includes IT, economics, accounting, and marketing. Find areas that you have interest in and go for it.
As soon as you start learning and gaining quality skills, it’s time to throw yourself at work. Executives will only hire you if they think you know more than they do. Therefore, having prior experience is a great way to indirectly point that out. The company where you’ll work is not that important, but it needs to relate to your expertise. Remember to include the sectors where you want to focus your career.
Having certificates is equally as important as having a bachelor's degree. You can acquire them online, or you can visit some courses near where you live. Those courses will provide you with even more skills, and they’ll teach you some secrets of the business that you cannot learn at school. Look them up online, see people's reviews, and find both free and paid courses.
Management consultant has to be well–organized, flexible, and relaxed at all times. If you’re a person who has tons of papers on your desk, is constantly stressed, and has no time for the work, then you’ll give out the impression of someone who is not fit for the role of a management consultant. Try to organize your files in different drawers, and find different mechanisms to release stress. Most importantly, put your job first, until you gain enough experience and respect from others.
This is the question we all want the answer to, but still, find it awkward to ask. Well, that’s why this article is written. According to PayScale, a management consultant in their first year will earn around $67,000. After 5 years, the annual salary will jump to $100,000, and it’ll only increase over time. Keep in mind that you’ll be receiving bonuses and you’ll be able to travel because of work. But, annual salaries can vary depending on your country and region. It also varies in terms of your company.
Management consulting can be a stressful job, full of demands. But, if you’re prepared to do whatever it takes to reach among the stars, then you already have your base. You just need to build on it. Focus on having a degree, tons of certificates, work skills, and personal skills to become one of the best. Articles such as this one will help you in your path, so read a lot, talk with others, and most importantly- always think out of the box.