In case you are concerned about how a business operates- its structure, strategy, operation and management, then a career in management consultancy will be the best option for you. The management consultants are really important for improving the growth and performance of the businesses by solving existing issues and finding better and new ways of doing things. It is not only meant for the private sector, but often these consultants’ work with the public organizations to develop the services and make savings while reducing the costs.
Management consultancy firms are well-known for offering services across different areas of business – starting from marketing and HR to finance and IT. The broad area of consulting makes management consulting a lucrative career option, while offering the consultants different types of challenges, opportunities and projects for personal development. This might include working all around the globe with the multinational clients, even if they don’t join any of the big organizations. The biggest consultancies mostly come with several thousand or at least hundreds of employees, but still a growing number of successful niche players between 10 and 100 consultants are there, who also bring some really interesting career opportunities.
Companies mainly hire the management consultants for a number of reasons like gaining access to the specialized experience of those consultants and for getting external advice. Because of the relationship and exposure of these consultants to several clients and companies, they are well aware of the industry best practices. But sometimes, the transferability of these practices may be problematic from organization to another on the basis of the situation under consideration. Demands of management consultancy also show meeting some targets on time. Mostly this job is client facing and therefore the consultants are always under pressure to deliver.
The best part of the job of a management consultant is probably the excitement around various new projects coming along, which offer the scope to learn something new every time. This in turn makes them well equipped for new projects. This is also the thing that the consultants like about their jobs.
Actually, there is no set career path available in this industry. Though most of the large management consultancies directly recruit graduates right from the university, but an aptitude for listening to and dealing with the clients, ability to analysis business, preparing strategic planning and team building attract the consulting employers along with flexibility, strong interpersonal skills and creativity of the candidates.
These days, a number of companies prefer candidates with MBA or MSC degrees, but there is no need of such degrees. Likewise, having degrees in business can also be beneficial, but in reality, this type of consultancy is not one degree specific industry.
In the world of management consulting there is immense scope for expanding one’s skill set, personal development and enhancing the CV. The majority of the consultancies also offer great training opportunities along with the scope to build up other skills. As client work has become more global, the management consultancies are now operating on a global basis and as a result, there is a great opportunity for traveling.