- Management Consultant
Who is a Management Consultant?
"The true measure of the value of any business leader and manager is performance." - Brian Tracy
In a career as management consultant, individuals utilise his or her business skills to provide organizational support to develop any specialist skills where it is lacking. Do you know what is management consulting? The practice to help organisations to improve performance through utilising the services of a management consultant is known as management consulting.
A management consultant is a professional who provides support to employing companies to resolve issues arising on the business front to manage things efficiently. He or she is responsible for creating value, maximising and improving business growth. Students can pursue Economics or Business Administration to become a management consultant. Here we will discuss what is management consulting, management consultant companies, management consultant career path, management consultant courses, management consultant salary in India, how to become a management consultant in India.
Management Consultant in a Nutshell
Management consultant career path helps individuals to oversee the strategy, management, structure and operations of the company. Certified management consultant often suggests recommendations for change such as the addition of resources for the implementation of solutions.
Quick Facts for Management Consultant
Average Salary in India
A career as Management Consultant is suitable for everyone regardless of their gender. A gender does not cause any resistance in acquiring new opportunities and growth in the career as management consultant.
Any special needs
A career as management consultant is suitable for individuals with certain special needs. Communication skills are crucial for this role. Someone who can easily identify the business opportunities using logical thinking and analytical skills can opt for this career.
Table of Contents for Management Consultant
What is the role of Management Consultant?
A management consultant is a trained professional who solves complex problems and devises invaluable strategies to improve the financial and operational performance of the client organisation. A career as management consultant involves application of research and analysing internal data. He or she interviews people, prepares and presents reports. A management consultant works 50 hours per week to develop beneficial business relationships with potential clients and other professionals.
A management consultant works to carry out research and collects data to provide support to organisations by identifying the problem and providing a solution for it.
A management consultant work responsibilities include interviewing employees, management team and other stakeholders. He or she is responsible for understanding their concerns and facilitating workshops to them.
Types of a Management Consultant
There are types of management consultant. We have provided below a list of management consultant jobs with varying roles and responsibilities.
IT Consultant: An IT consultant job responsibilities involve work in partnerships with clients and provide them advice on how to use information technology to meet business objectives. He or she improves the IT structure and efficiency of the organisation
Operations Consultant: An operations consultant is responsible for providing support to clients by improving the efficiency of the value chain. He or she develops and implements service delivery models, executes cost reduction programmes and optimises business processes.
Marketing Consultant: A marketing consultant serves as an outside advisor provider support to individual clients and companies in developing and implementing marketing strategies. He or she determines the target audience.
Hr Consultant: A HR consultant is responsible for resolving needs related to human resources. It involves providing high-level solutions and recommendations to management teams.
What is the workplace/work environment of Management Consultant like?
Individuals who opt for a career as a management consultant often spends his or her working hours in an office environment. He or she is required to attend meetings with managers of the company. Presentational as well as public speaking skills are crucial for this role. Individuals who opt for a career as a management consultant is required to work in collaboration. On several occasions, he or she has to work alone and ensure the timely completion of tasks. A management consultant's work hours often gets stretched. He or she works a minimum 50 hours per week.
Does Management Consultant require travelling?
A management consultant gets numerous travel opportunities including stay and buffet at hotels. Individuals who opt for a career as a management consultant spend most of their working hours at their offices or the offices of their customers. These offices are usually well kept and brightly-lit. Management analysts and consultants spend a lot of time traveling. Individuals who opt for a career as a management consultant and analysts usually work 40 hour weeks, often not being paid for overtime hours since they must meet many deadlines. Working as an analyst can be very stressful since many customers are very demanding and difficult to work with.
Full Time, Work From Home
A management consultant's career falls into certain shifts. Individuals who opt for a career as a management consultant is required to work from early morning to late evenings.
The nature of employment depends on the requirement of the employer. The terms and conditions of the employment are designed by the employer, candidates can negotiate on them.
Office, Work From Home
A certified management consultant works in an office environment. Individuals who opt for a career as a management consultant may often be required to attend meetings. Several consultancies provide work from home employment. On several occasions, work from home can become a norm as it gets shifted from regular office work to home.
Presence in Geographical Area
New Delhi, Bengaluru, Gurugram, Mumbai and Pune provide lucrative job opportunities for the role of management consultant. There are negligible management consultant job opportunities in rural areas.
Yes, a certified management consultant requires to work under frequent time pressure to meet deadlines.
A certified management consultant usually works stretched hours due to exceeded pressure such as providing services to multiple clients in the same time period.
Weekly Hours of Work
Min 40 Hours
A certified management consultant work hours often gets stretched. Individuals who opt for a career as a management consultant is required to meet the deadlines.
How to become a Management Consultant?
What are the skills and qualities required to become a/an Management Consultant?
You must be wondering that how to become a management consultant? So, in this section, we will be answering the most commonly asked question that how to become a management consultant. In order to make a career as management consultant, one must possess some skills. Some skills required by a management consultant are mentioned below:
Organisational Skills: A management consultant role often involves working at the client site in absence of their superior. He or she has to ensure the timely completion of tasks. Clients depend on management consultants to resolve various business and management issues arising on the work front.
Problem Solving Ability: As a management consultant you may often be required to solve complex problems of clients and provide efficient solutions for them.
Interpersonal Management: A management consultant is required to manage multiple tasks and review various reports and data of the company to analyse the problem and provide effective solutions.
Communication Skills: A management consultant has to interact with numerous people on a daily basis. He or she has to interview employees and clients and provide the necessary support. A management consultant has to review various reports including financial data of the company and provide feedback.
Writing Skills: A management consultant stays involved in documentation. He or she has to prepare and present reports, manuals and other documentation.
Which certifications and internships can be helpful in becoming Management Consultant?
We have provided below a list of certification courses that aspiring individuals may opt to add to their knowledge and upgrade skills for a management consultant career.
There are several corporate organisations that offer management consulting internships. Aspiring students are required to undergo a management consulting internship of a duration of six to twelve weeks. Individuals may also undergo an internship programme of a shorter duration that usually lasts one to two weeks. Such internships are offered by big companies.
A management consulting intern is assigned a project to work on. His or her day to day tasks involve collecting data, conducting research and giving presentations. Management consulting interns are provided with the task of building businesses and lead several activities in the project. Communication and analytical skills are crucial for this role.
Career Path Progression for Management Consultant
We have provided below the management consultant jobs description with varying experience level and responsibilities.
Junior Management Consultant: A junior management consultant jobs comes with the responsibility of providing support to the organisation in improving various aspects of the business to increase the efficiency of resources and productivity for maximum business growth and management.
Senior Management Consultant: A senior consultant may perform several tasks. It includes creating diagrams of various processes of companies and preparing coherent reports after reviewing various systems of the organisation. A senior management consultant spends his or her time attending meetings with the managers.
Management Consultant Salary: The average management consultant salary in India is Rs. 1167704 per annum, according to payscale.com.
Management Consultant Jobs and Salaries
Junior Management Consultant
- Average Salary 75000
A junior management consultant provides assistance in developing objectives, strategies and plans to improve business for the organisation and minimising the production cost and increasing the efficiency of the present resources.
A junior management consultant earns an average monthly salary of Rs. 75,000 per month
Senior Management Consultant
- Average Salary 166000
A senior management consultant is responsible for providing recommendations to resolve the organisational problems of the company. He or she reviews the system of the organisation by studying existing and proposed methods such as clerical and administrative procedures.
A senior management consultant earns an average monthly salary of Rs. 166,000 per month.
What is the job outlook for Management Consultant?
A management consultant career is expected to grow at a rapid rate providing numerous opportunities to aspiring individuals. A management consultant can progress in his or her career and become a senior consultant or manager. One can progress up to the level of director or become a firm partner. In the career as a management consultant, it is easier to take up the role of project management. The employment opportunities for management consultants is expected to grow at the rate of 24 per cent in the decade. It is growing faster than the average of any other occupation. In the healthcare sector, there is an increase in the demand for management analysts. As the competition is increasing in the market, firms are required to utilise their resources efficiently. Therefore, management consultant career path require management consultants to review various systems of the organisation and prepare reports to provide the best recommendations to improve efficiency and productivity.
Frequently Asked Questions for Management Consultant
Que. What is the average fee of B.B.A. course?Ans.
The average fee of the BBA programme ranges Rs. 50,000 to Rs. 200,000 per annum.
Que. Is an M.B.A. required to become a management consultant?Ans.
It is not mandatory to have an MBA degree to become a management consultant. But, an M.B.A. has its own perks as it provides numerous opportunities with lucrative salaries.
Que. What courses one can opt to become a management consultant?Ans.
Successful completion of a bachelor’s degree in finance, business management, economics or maths is required to opt for a career as management consultant.
Que. What is the average starting salary of a management consultant?Ans.
The average starting salary of the management consultant is Rs. 52,000 per month.
Que. Which cities provide good opportunities for a career as management consultant?Ans.
New Delhi, Mumbai, Pune, Bengaluru and Gurugram provides attractive opportunities to management consultants to pursue their career.
Que. What are top management consulting firms?Ans.
Top Management Consulting Firms:
|McKinsey & Company||Bain & Company|
|Deloitte||Booz Allen Hamilton|
|Accenture||The Boston Consulting Group|
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