Management consulting has been around for a considerable amount of time. It is considered a crucial part in helping businesses and organizations solve problems with outside help. Consultants are usually industry specific in both the public and the private sector.
What is it?
So what is management consulting? According to The Guardian, “Management consultants help businesses improve their performance and grow by solving problems and finding new and better ways of doing things.” This field is all about innovation and finding answers to the big questions companies have. Management Consultants work hard to ensure that they find solutions for their clients in a timely manner. Many consultants also work for consulting firms. These firms provide services for organizations across all types of business including, finance, marketing, and information technology. Larger consultancies have a few hundred to a thousand employees. In this setting, consultants will work to solve problems together for a company. This makes for a highly competitive and thought-provoking atmosphere.
When consultants are first starting out, they are usually junior members of firms working long hours each week. They will also spend a lot of time on the road, solving problems for companies all over the world. Consultants aren’t in their own offices resolving the issues, they are on-site almost all of the time. The majority of the work you face as a consultant is client-facing and you’ll have to meet tough goals on-time, every time.
Within the field of management consulting, there is a lot of room for growth, but it is competitive. After about five years in the industry, successful consultants will rise to team leader roles. At this position, they oversee and manage projects rather than working on-site all the time. The Princeton Review says that “Duties at this stage for management consultants include managing accounts, directing production of reports, and reviewing the analyses of more junior associates.” Consultants will then move into senior level positions after many years in the field. At this level, a consultant works closely with the firm to bring in new hires and direct company policy.