Management Consultant
What is the work like?
Management consultants use their business skills to help organisations solve problems, improve efficiency and manage change.
Companies might bring in management consultants to provide particular knowledge or skills that they lack, to provide a fresh viewpoint on their problems, or even to help save a struggling business. As a management consultant, you might help your clients with a wide range of business areas, such as:
- planning and strategy
- finance
- improving productivity and processes
- marketing
- personnel
- IT.
Although projects would vary depending on the client and the type of consultancy you worked for, your job would generally involve:
- meeting clients to discuss their needs
- carrying out research to gain an understanding of the client’s business
- interviewing the client’s managers, staff and customers
- collecting and analysing data, and preparing reports
- identifying and investigating issues, and planning how to tackle them
- outlining current procedures, to highlight any inefficiencies
- creating computer models to test possible business solutions
- presenting recommendations to the client
- agreeing a course of action with the client
- providing any support the client might need to put the plan into practice, such as staff training.
Projects may run from one day to several years, depending on the needs of your client.
What qualifications and experience will employers look for?
You could become a management consultant with experience from a variety of backgrounds. Previous experience in business, management, finance, human resources, IT, project management or the armed forces can be especially useful. Alternatively, you could join a management consultancy firm’s graduate training scheme straight from university.
Most management consultants are qualified to at least degree level, and you may have an advantage with a degree in a business-related or maths-based subject. However, other subjects are often acceptable if you can show strong analytical, planning and communication skills during the application process.
Competition for places on graduate training schemes is strong, and you will often need a degree of at least class 2:1. Any relevant work experience gained during placements, internships or temporary work should help your application.
You may find it helpful to have a postgraduate qualification such as a Masters in Business Administration (MBA), although this is not essential.
Foreign language skills are also highly regarded, as many firms work with international clients.
What further training and development can I do?
You will receive comprehensive induction, training and mentoring when you start as a trainee management consultant. You would often begin by supporting experienced consultants with research and report writing, and take on more responsibility as your experience grows.
Your training may include the chance to achieve professional qualifications from the Institute of Business Consulting, such as:
- IBC Certificate in Management Consulting Essentials – for anyone new to consultancy work
- IBC Diploma in Management Consultancy – for consultants with more experience.
As a member of the IBC with at least three years’ experience, you could choose to be assessed for the Certified Management Consultant Award (CMC), in order to have your skills and competence recognised by the industry. See the IBC website for more information.
Your employer may also sponsor you through a part-time MBA degree (or another relevant professional qualification or Masters degree if you work for a specialist firm, for example human resources or financial consultancy).
You should continue to update your industry knowledge and skills throughout your career. Most employers will offer a range of ongoing training opportunities, and you could also take part in short courses, seminars and workshops from the IBC and the Management Consultancies Association.
Where can I go for more information?
3rd Floor17-18 Hayward's Place
London
EC1R 0EQ
Tel: 020 7566 5220
London
WC2N 5DS
Tel: 020 7321 3990
If you would like to discuss your career options with a learning adviser, call 0800 100 900 or use our online enquiry form
Alternatively, you can visit our website at: www.direct.gov.uk/careersadvice
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What salary and other benefits can I expect?
- Starting salaries are normally between £25,000 and £30,000 a year.
- With more experience and responsibility, this can rise to around £50,000.
- Senior consultants, directors and partners can earn much more.
Profit sharing and bonus schemes can greatly increase salaries.
Figures are intended as a guideline only.
What are the hours and working conditions?
You would often work long hours to meet project deadlines – a working week of at least 50 hours is fairly common. The work may be stressful and pressurised, but many employers promote staff welfare and work/life balance by offering benefits such as flexible hours and career breaks.
You would work in an office environment, spending a lot of your time at clients' sites. The work would involve frequent travel (possibly abroad) and spending short periods away from home. Smart business dress is expected.
What skills and knowledge will I need?
- excellent communication and 'people' skills
- analytical thinking and problem solving ability
- a high level of numeracy and IT skills
- the ability to work well as part of a team
- confident presentation skills
- a persuasive manner
- effective written communication skills
- the flexibility and stamina to work long hours when necessary
- integrity and the ability to inspire confidence in clients
- good business awareness.
What opportunities are there?
Management consultancies can range from large generalist firms that offer a variety of services, to smaller practices offering specialist knowledge and skills.
Many leading firms are based in London, with opportunities in smaller consultancies in cities throughout the UK. However, your working location largely depends on where your clients are based.
Jobs are advertised in the national and business press, graduate recruitment fairs and specialist recruitment agencies. Being ‘headhunted’ for senior jobs is common once you are established in your career.
With experience, you could specialise in a particular area of consulting, become a partner in a firm, work freelance or set up your own consultancy firm.
You may find the following links useful for job vacancies and further reading (links open in new window):
Management Consultancy Magazine
Top Consultant
MCA Consultancy Prospects
Mindbench
The Times
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