Executive Search Firm | Careers & Industry - Consulting Profile

Career Profile: Consulting

In the profession of consulting, your job is to give advice, and be the expert on the advice you are giving. Although this may seem quite simple, your advice comes at a hefty cost. As the number of businesses grow, the need for professional advice increases. Consultants usually offer advice services in company management and innovative strategies to enhance the flow of productivity. Examples of consulting include HR duties such as employee salary and compensation packages, business plans, budget analysis, and marketing improvements. Consulting firms experience a tremendous amount of prestige and respect as they come into companies as ‘the expert.’ Individuals working in large consulting firms such as Bain & Co. enjoy the diversity of their clientele and the challenges each new project brings. Smaller consulting firms may focus on specific industries or certain problems that clients need addressing, such as re-imaging their company in order to attract potential employees of a higher caliber.

Necessary Skills & Credentials:

Whether individuals are looking to work in a large or private firm, an undergraduate degree and MBA are becoming more and more necessary in order to land the job of your dreams. The consulting industry is a highly competitive field because the work is intriguing, the environment is enjoyable, and the salary is plentiful. When applying for a position within a consulting firm, the interview process may be extensive and tedious. Your basic problem solving skills, people skills, or IT knowledge may be put to the test on the spot.

Career Tracks:

Positions in the consulting industry range from administrative assistant and entry level research analyst to project manager or eventually, partner. Consulting is a great industry for professionals of all levels because you can either start at entry level and work up, or come in with your highly valued career specific insight. No matter what the position, the individual will most likely be required to perform extensive research on their clients, their client’s industry, and the tools available to enhance their client’s productivity. Usually the consultant will meet with their clients face-to face and stay for extended amounts of time in order to get the job done, and to get the job done well.

Drawbacks:

The glamour of a consulting position does come at a price. The work can be overwhelming, the hours long, the travel can interrupt your personal life, and the personal satisfaction of the work may be limiting. Many individuals in the consulting industry leave the field in order to work as management within a company where they have the authority to make the executive decisions and see a project through to the end in one company instead of dabbing their feet in a wide range of multiple different companies.

Benefits:

Although some individuals feel they never get to experience the full benefit their work has on a company, most consultants love what they do. They feel energized by the company’s challenge and feel a sense of authority being able to come into the company with a plan for success. Consultants are typically problem solvers and intelligent individuals who were at the top of their class in some of the most prestigious schools. Consultants are highly analytical individuals who are capable of forecasting potential problems from their analysis. Consulting firms looking to hire can afford to be picky in their candidate selection because the jobs are limited and the pool of candidates is large. However, the consulting industry is rapidly growing in the number of businesses and the respect for consultant work is also becoming more valued. Many individuals are able to go out on their own and open up their own independent consulting services company after spending a few years with a large firm. As the IT industry booms, many consultants are being hired strictly for IT advice on how to run the company more efficiently, compile online databases, utilize new computer software, and increase revenue through online marketing. Some companies utilize consulting firms to reorganize their entire infrastructure of how the company is run or just make simple modifications to the company’s internal processes of project management. Consultants are finding more work in the environmental sector advising companies on how to go “Green,” as well as in the healthcare and technology industries.

Consultants are able to see their ideas put into place within companies and feel a sense of accomplishment knowing their plan will help the company run more smoothly. Although the competition is steep, once you land a job in the consulting world, the benefits are bountiful.