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Becoming a management consultant
How to become a management consultant
Management consulting [LINK TO ARTICLE] is a prestigious and remunerative profession, and consulting positions are naturally sought after among new graduates and experienced professionals alike. There are several types of management consulting jobs: large multinational firms, boutique or industry-specific consultancies, and internal consultancies within large corporations. Finally, there is the option of starting one's own firm and becoming a self-employed management consultant.
There are no foolproof methods or guarantees, but a few established paths for entering the management consulting industry exist. Some consultants do come from non-traditional backgrounds, but in general, the industry is fairly conservative and risk averse, so most enter through the main recruiting channels. How to become a management consultant: attend a top university or graduate program and perform well, have some experience in a desirable field such as science, engineering, or business, and do a great job at performing analysis under pressure.
Management consulting work is often academic in nature, with intensive research and analysis involved in every project. Thus it's not surprise that consulting firms look for academic excellence when recruiting. The top firms recruit primarily from the top schools, but even when they look beyond the leading universities, student performance is key. When looking to enter the industry after graduation, attaining top grades in university is how to become a management consultant. Usually, new graduates enter a consulting firm in the role of an analyst.
Since analysis and problem-solving are the skills constantly relied upon by consultants, the academic disciplines that are favored by consulting firms tend to be quantitative in nature. Consultants often deal with large amounts of numerical data in the form of financial information or business statistics. Mathematics, science, and engineering majors are frequently recruited by consulting firms, since these graduates have the aptitude to perform the exhaustive quantitative analysis often required when working on projects of this nature.
How to become a management consultant without entering the industry directly after university? There are several routes into consulting for experienced professionals. One common route is via completing an MBA degree. MBA programs educate students in the art and science of management, and that knowledge can translate directly into employment with a consulting firm. In fact, many consultancies encourage their analysts to complete MBA programs, and most MBA programs serve as "feeders" for consulting firms. During the MBA, consulting recruiting opportunities are built into the program, as is recruiting for other fields suck as industry and finance. MBA career services also provide support and advice to students on how to become a management consultant, from succeeding in the application process to choosing the right firm.
There are many consultants without MBAs, however, and these are usually professionals with experience in a sought after industry - for instance, energy, technology, or pharmaceuticals. These professionals must learn consulting methods but already posses a high level of expertise in their field, and are usually recruited to work on projects for clients in their former industry. MBA graduates and experienced professionals usually enter consulting firms at a level above analysts, as associates or consultants.
And finally, there is the option that remains for professional who choose not to join an existing firm. How to become a management consultant without going through recruiting? Simply start your own firm, or become a freelance consultant. Of course, consultants need clients, and clients will look for specific things - often the same things consulting firms look for in employees. Freelance consultants are usually hired by businesses that need expertise in a specific industry, a specific field such as human resources or marketing, or both. Academic credentials also help, and degrees from respected universities, business schools, and graduate programs can help persuade clients to hire an independent consultant. However, since unlike consulting firms, clients are not looking to provide training, academics are usually not enough, and this route is generally reserved for experienced professionals with substantial domain expertise.
