Career Profiles Management Consultant
A management consultant can best be defined as an individual who is hired to improve efficiency and profitability for a company. The primary aim of any management consultant is to bring a positive change in the operation of the company that hires him or her. This type of consultant operates in most sectors of the economy. Management consultants work in the financial, technology, information and energy sectors among others.
The basis of being hired and ultimately being successful lies in the fact that the consultant must be able to come out with a workable and quick solution that the client does not know. The greater the problem solving and innovative skills the consultant brings along the more successful one can become.
There are a number of characteristics that a management consultant must possess. They have to be an attentive listener and must be patient to listen to the client so that they can come out with a good outcome .The consultant must fully understand what the client requires before beginning the assignment. Communication skills should never be underestimated; the consultant must be firm and a tactful communicator. During the initial stage of finding the work and presenting the outcome one must be confident and must be able to explain why they have taken a particular course of action.
The management consultant must also be flexible and open to working at odd hours. This is because there is likely to be a rush to beat project deadlines. It can be a big advantage if one is well connected in the particular sector that you envisage to work or alternatively if you have a good reputation in your field.
No specific educational requirements are needed to be a management consultant as the field is so huge. To enhance your reputation though you will need to a have a solid college degree in the particular sector where you intend working. In this highly competitive world having a Masters degree will make one more marketable especially if you wish to look for a job in a consulting company.
One can enter the management consultant field using two paths. The first one is by seeking employment at the well established consulting firms that includeMckinsey & CompanyandAccenture. This is the easiest route for a new graduate who has limited experience in the sector. From there on one can be able to gather experience and move up the ladder. On the other hand you can actually enter the field as a solo management consultant. This is ideally good for someone who already has a reputation and is well known. Typical examples include former senior company executives and newspaper columnists.
Most of the job is centered on problem solving and product enhancement. So a typical day will consist of client meetings with the intention of learning their needs. Then there are likely to be team meetings .The crux of the matter will be when the management consultant does the data gathering and analysis. This stage is important as it will determine the final product that will be offered to the client. There will be the creation of slides and some conference calls to polish up the presentation. Once the package is finished it can then be presented to the client.
Earnings for management consultants differ depending on where one is working and the educational qualifications that you hold. Should one secure a job in a consulting firm then the chances that one can gets to receive a signing-on fee and a performance bonus are high, ensuring a good salary. On the other hand solo management consultants often charge based on the total number of hours worked. So what will mainly determine earnings would be how busy one is.
Besides the monetary benefits there are also some other advantages of being a management consultant. The daily work is not repetitive and should therefore prove to be enjoyable. The job is intellectually challenging, yet one has the chance of learning new skills and ideas everyday.
