Career as Management Consultant
Business is a complex matter these days and more often than not you need someone to figure out what is best for your business. It could be an international company looking at India or an Indian company looking internationally. Their requirement could be as basic as identifying an office in a new area. Or it could be as complex as identifying a business partner, or looking up industrial or trade investments.
involves advising on corporate-level or business-unit strategies. What business should we be in? How do we compete? Should we diversify or focus on core activities? How do we fight (and win) against our competitors? The work is very conceptual and considered glamorous
consulting is figuring out how to improve the efficiency or productivity. Some even call it reengineering. Whatever the name, there is always a need for practical, results-oriented and detailed consulting .
consulting includes attracting, motivating and retaining high quality employees for a company along with advice on compensation and benefits.
Employment Opportunities of Management Consultant:
If you are really good, you could straight away land yourself a job with big guns like KPMG, Price water house Coopers, Ernst & Young and Deloitte & Touche etc and be a part of their army of consultants. Alternatively, you could work in small and medium firms where you get more opportunities to handle entire projects
How to becoem Management Consultant?
The basic qualification is usually an MBA. In areas like IT consultancy, technical qualifications such as an MCA or a B.E in computers is preferred. Some sort of management background, however, is still necessary. A Ph.D or a Fellowship in Management is also a good qualification for getting a job. Consultants need to excel in relationships with their clients, which must be face-to-face. Communication skills therefore become vital.
Median Pay Scale/salary of Management Consultant :
As a junior consultant, your pay packet would be in the range of Rs 2-4 lakh p.a. If you are from a premier management institute, you may start at Rs 18-24 lakh or even more. As a senior consultant, your salary will also include the commissions on the projects you work on. Top consultants charge as much as 35 - 40 per cent of the entire cost of the project as fees.