Consulting Careers - What to Expect
When you embark on any career, it's nice to know what to expect both in the job market and once you're on the job. Not all jobs or positions are created equal, so you'll also want to know what level you should expect to be at depending on your education and experience. Salaries also vary across companies, so knowing what to ask for and what is too high or too low is helpful as well. By preparing yourself before starting your job search, you increase your chances of finding the best jobs for your skill set and securing the right salary. Take a look at the information below regarding careers in consulting and get a better idea of what to expect.
What is Consulting?
Consulting jobs are a bit different from other jobs. Most businesses sell products or services, whereas consultants sell knowledge. There is a consultant for every facet of business and corporate success. These professionals tell companies how to be more competitive in a particular area. Most companies won't make major decisions without first consulting a professional regarding how a decision will affect their business. The term "consulting" is a catch all term that encompasses any type of professional advice giving. If you are a specialist in your field, you can offer consulting services. However, most people think of management consulting when they encounter the general term and there are plenty of high profile firms that offer consulting services. These companies are often on the lookout for intelligent, innovative people ready to start their careers in consulting.
The Ins and Outs of Consulting Jobs
Most of what you'll spend your time doing as a consultant is research and analysis. You'll have to be creative when looking at business problems for your clients in order to conduct research and test new hypotheses on what might be the best solution for a particular company. Your research might require internal business information from the company's databases or it might require market studies or surveys that you devise and implement to help get more information. Once you've collected this data, you'll need to analyze your results with respect to the company's goals, operations, and the current market. You will then present your findings to your client for implementation. Very few careers in consulting will not experience pushback from clients on implementation. Usually the hardest part of any consulting job is convincing the client to implement your recommendations.
Requirements for Consulting Jobs
Most consulting firms are looking for people who were strong students, are problem solvers, can think creatively, and are very good at communicating. Obviously, it never hurts to be truly interested in business. Usually, top firms want people who already have experience in business, either through previous jobs or through internships during college. If a firm specializes in a specific type of consulting, then a background in that field may also be required. Different career tracks can lead to consulting jobs though; there is no single way to get there. Whatever point you are at, you can start your job search for a consultant position:
- Undergrad - If you are fresh out of undergrad and interested in a consulting position, look for analyst jobs. These jobs can be very demanding and you can expect to work in these positions for 2 to 3 years before your firm will start encouraging you to go to business school. The rewards for working in these positions can be very gratifying: your firm might offer to pay your tuition if you have proven yourself during your time with the company and agree to return to the firm after you have your MBA.
- MBA - MBAs are usually hired as associates in consulting firms. You should expect to stay in this position for 2 to 3 years before moving up. Initially, you'll be working with clients and managing projects, but eventually, you will be selling services. After a significant amount of time with a firm, you might be offered a partner position, where you will have both an increase in salary and in responsibility.
- Changing Careers - If you feel that your knowledge and skills amassed in your current career would better serve in a consulting capacity instead of your current position, you can make the transition to consultant. When applying to a firm, you will want to be able to demonstrate your skill with a few success stories and be able to emphasize your experience. This can be an especially lucrative career change for people with advanced degrees who want to apply their knowledge to the business sector.
Salary Expectations
MBAs can usually expect low six figure salaries, with the added perk of bonuses and benefits. Undergrads can expect mid to high five figure salaries with some bonuses and usually competitive benefits. People making career changes will want to test their own consulting skill by doing some market research to see what their experience and education can currently net them.
Finding Consulting Jobs
The easiest way to find a job in consulting is to visit JobsOnline. Here you'll be able to search consulting jobs by location, so that you can find the right job in the right area. JobsOnline has great job listings from all over the web in a range of positions from entry level on up. Start searching with JobsOnline today and find the consulting job you want.