What does a Management Consultant do?
Management consultants help organisations to solve issues, create value, maximise growth and improve business performance. They use their business skills to provide objective advice and expertise, as well as helping organisations to develop any specialist skills that they may be lacking. They are often required to identify options for an organisation, suggest recommendations for change and advise on additional resources to implement solutions.
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What are the different types of consulting?
Consultancy companies range from small consultancy firms specialising in a niche industry, to larger consultancy firms offering end to end solutions.
Types of consulting to specialise in:
- Human resources
- Business strategy
- Financial and management consulting
- Online business and e-commerce
- Information technology
- Supply chain management
How do I become a management consultant?
A bachelor degree is the minimum qualification required by most employers. It would be a great idea to study something that is relevant to the type of consulting you want to study in the future, this can include financial management, business, accounting, and project management among other disciplines. This degree will help you gain the academic skills and competencies that you need to understand organisational management and develop creative problem solving.
You will likely need two to three years work experience to get a management consultancy job. Graduate programs, an internship or part-time work can help you gain relevant experience.
An alternative route could be to start in a junior role at a company, you could then progress to a more senior role and form key connections and network with industry professionals which can be useful later in your career.
You can also pursue professional or advanced qualifications such as MBA or master’s degree.
- BSc Business Management
- MSc Project Management
- MSc Leadership and HR Management
- MSc Strategic Business Management
- MSc Psychology (Conversion)
- MBA Leadership
What skills does a Management Consultant need?
- Interpersonal and team working skills, as well as the ability to build rapport quickly
- Strong oral and written communication skills
- Flexibility, creativity and innovation
- The ability to problem solve and plan strategically
- Analytical skills and the ability to interpret data
- The ability to cope with pressure and face challenges
- Confidence when presenting
- Attention to detail when identifying and investigating issues and planning how to overcome them
- Commercial awareness and understanding of business environments and processes.
How much does a management consultant make?
Graduates and junior consultants can earn up to £35,000 with large companies, depending on the location, type and size of consultancy. Experienced consultants, with a minimum of five years experience, can earn up to £50,000. Senior consultants can reach £125,000. There are many benefits that can be included such as private health insurance, pension schemes, car allowances, childcare vouchers, gym membership and interest-free season ticket loans.
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