Management Consultant

Become A Management Consultant

Do you have an analytical mind and a good head for business? Are you fascinated by exploring the question of what makes a company successful—be it a small start-up web design firm, or a multi-national agri-business? If you are self-motivated, good with people and highly organized, becoming a management consultant might be a good career choice for you.

Management Consulting in a Nutshell

Management consultants are hired to analyze the internal organizational structures of companies and offer recommendations to increase efficiencies and profits. For example, a company considering a merger might ask a management consultant to assess how the merger would affect the company's business model, how they might reorganize their management structure, and which positions they should eliminate or add. A consultant might also be called into a company experiencing unprecedented growth to help advise the best ways to manage their growth.

Education Requirements for Management Consultants

Education requirements vary widely between positions in management consulting, and between private industry and government work:

• Most employers in the private industry sector require consultants to have a master's degree in business administration or a related field, along with experience in their industry.
• Some private-sector employers will hire workers with bachelor's degrees or who have experience as research analysts.
• Similarly, many government agencies will hire promising candidates with bachelor's degrees as entry-level management analysts.

Management consultants often have experience in business management, human resources, information technology or other specialties that hiring companies find attractive. They also routinely attend conferences and classes to stay apprised of new developments in their field.

Day in the Life of a Management Consultant

Roughly 29 percent of management consultants are self-employed, which is more than three times the average of all occupations. The majority of consultants working for the government are employed by the US Department of Defense.

Consultants generally work under their own supervision while splitting time between their office and their client's businesses, which tend to be concentrated in metropolitan areas. Consultants must often travel to their client’s home base and spend several days, or sometimes weeks, there during the consulting process.

Management consultants generally work 40-hours per week, but when nearing a deadline, it is not uncommon to work uncompensated overtime. However, the compensation for successful consultants can be well worth the investment of long hours of travel and work.

Job Growth for Management Consultants

Job opportunities for management consultants are expected to grow faster than the national average for all occupations through 2014. Despite the optimistic job prospects, competition for these positions is expected to be fierce, due to the attractive lure of self-employment and potential for high earnings.

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